Companies news of 2008-04-28 (page 6)
Photos: Dr Pepper Gives Consumers the Passport to Explore More of 'Indiana Jones and the...
Irvine Sensors Regains Compliance With Nasdaq Minimum Stockholders' Equity Requirement
RadioShack Corporation Announces Earnings per Share of $0.30 for the First Quarter 2008
ACS to Acquire CompIQ CorporationExpands Healthcare and Insurance Payer Capabilities
MIPS Technologies Launches Company's First European University Program for Design...
ACM and Infosys Foundation Announce Winner of New Award Honoring Contemporary...
ARM and Mindspeed(R) Address Next-Generation Home Gateways With Multiprocessing...
Beautiful to Use: Nokia Unveils Three New Handsets That Merge Modern Functionality With...
ARM and Mindspeed(R) Address Next-Generation Home Gateways With Multiprocessing Technology
ACM and Infosys Foundation Announce Winner of New Award Honoring Contemporary...
China Digital TV to Report First Quarter 2008 Financial Results on May 14, 2008
Emmis Interactive Extends Digital Services to Media CompaniesRadio industry leader in...
freenet to Acquire debitel Group
Bluephoenix Significantly Expands Modernization Collaboration With Microsoft
freenet to Acquire debitel Group
Emmis Interactive Extends Digital Services to Media Companies
MTN Nigeria to Improve Performance With Motorola Optimization Services ContractThree-year...
Premier Farnell Announces the Appointment of Andy King as President of Farnell Europe and...
Premier Farnell annonce la nomination d'Andy King comme président de Farnell Europe et...
March Networks and Sun Microsystems Deliver Integrated IP Video Surveillance Solutions to...
New Versions of ILOG Graphics Products Target Rich Internet Application Development on...
Sohu.com Reports First Quarter Unaudited Financial Results
Photos: Dr Pepper Gives Consumers the Passport to Explore More of 'Indiana Jones and the Kingdom of the Crystal Skull(TM)'Dr Pepper "Passport to Explore with Indiana Jones and the Kingdom of the Crystal Skull" Promotion Gives Indy Fans the Opportunity to Taste the Adventure of this Year's Biggest Film
PLANO, Texas, April 28 /PRNewswire/ -- This year, the crack of Indiana Jones' whip signals the start of summer, as Dr Pepper celebrates the opening of Indiana Jones and the Kingdom of the Crystal Skull by giving fans an exclusive passport to explore more of the long-awaited fourth installment of the Indiana Jones adventures. Through an innovative partnership with this summer's biggest movie release, the Dr Pepper Passport to Explore with Indiana Jones and the Kingdom of the Crystal Skull promotion will help consumers bring the excitement home with them and will even send 23 lucky winners on a globetrotting adventure of their own-Indy-style!
To view the Multimedia News Release, go to:
http://www.prnewswire.com/mnr/drpepper/32938/
(Photo: http://www.newscom.com/cgi-bin/prnh/20080428/NYM041 )
"Dr Pepper is Indiana Jones' biggest fan, so we are thrilled to add even more excitement around an event that is 19 years in the making," said Andrew Springate, vice president of marketing for Dr Pepper. "With the 23 flavors of Dr Pepper, there is always more to explore, and we're bringing fans more ways to explore and experience Indiana Jones this summer."
Dr Pepper will offer consumers a host of exciting opportunities to keep the Indiana Jones fun going all summer long with an integrated marketing campaign that includes national print, television and online advertising; instant win games with exclusive prizes; and limited edition collectible packaging. Everyone who enters an instant win game code at DrPepper.com will be eligible for the grand prize sweepstakes and an opportunity to channel their "inner Indy" on an adventure to one of four exotic destinations: Egypt, India, Jordan or Peru. All places that Indiana Jones himself has visited during his adventures! The 23 grand prize winners will soon learn that their 10-12 day adventure trips, provided through Expedia, are not for the faint of heart-packing in enough horseback riding, boat travel and rigorous hiking to make Dr. Jones himself hold on to his fedora for dear life.
Game codes can be found under the caps or inside the wraps of specially marked 20 oz. and 2-Liter bottles, as well as 12- and 24 -packs of Dr Pepper and Diet Dr Pepper. Additionally, scratch off game codes will be featured in print ads, and codes will be given away in online ads. One-in-six codes will win a prize! Fans can visit DrPepper.com or text in game codes to learn if their codes are instant winners and redeem their prizes. In addition to the adventure trips, prizes include Indiana Jones and the Kingdom of the Crystal Skull/Dr Pepper T-shirts and hats; free movie tickets; free Dr Pepper product; and much more.
Speaking of more, 23 lucky Dr Pepper treasure hunters will also discover that there is even more inside their Dr Pepper can -- quenching their musical thirst with one of 23 iPod(R) Nanos(1) hidden inside specially marked cans randomly placed in 12-packs. The Nanos will be pre-loaded with "Raiders March" -- the Indiana Jones theme song by composer John Williams, as well as an exclusive behind-the-scenes photo from the movie set. Fans will also have the opportunity to collect six limited edition Dr Pepper collector's cans featuring scenes and characters from the new film.
The Dr Pepper Passport to Explore with Indiana Jones and the Kingdom of the Crystal Skull promotion will be supported by a television spot that captures the spirit of the new summer blockbuster and connects the two iconic brands. Additionally, Indiana Jones-inspired Dr Pepper print ads will run in People, US Weekly, Entertainment Weekly, Rolling Stone and In Touch Weekly. Online banner ads will takeover the Yahoo! Movies section on Yahoo.com. The television ads and online media will begin running on May 1, while print ads are scheduled to appear beginning on May 9, 2008.
"By working with Dr Pepper, we wanted to create a rich experience for Indiana Jones fans, both old and new," said Kayleen Walters, director of marketing for Lucasfilm Ltd. "Dr Pepper is an American institution, making it a perfect partner for the new Indiana Jones film."
Consumers can visit DrPepper.com for full contest and sweepstakes rules. The Dr Pepper Passport to Explore with Indiana Jones and the Kingdom of the Crystal Skull promotion ends on July 31, 2008, so consumers should buy a Dr Pepper today to taste the adventure!
About Dr Pepper
Dr Pepper is a leading brand in the beverage portfolio of Plano, Texas-based Cadbury Schweppes Americas Beverages (CSAB), a subsidiary division of Cadbury Schweppes plc . CSAB is one of the largest producers of soft drinks and premium beverages in the Americas. CSAB's brand portfolio includes Dr Pepper, 7UP, Snapple, Accelerade, Mott's Apple Juice and Sauce, RC Cola, A&W Root Beer, Sunkist Soda, Canada Dry, Hawaiian Punch, Schweppes, Diet Rite, Clamato, Mr & Mrs T Mixers, Holland House Mixers, Rose's, Mistic, Yoo- hoo, Orangina, IBC, Stewart's, Nantucket Nectars and other well-known consumer brands. For additional information on CSAB and its products, visit http://www.brandspeoplelove.com/.
INDIANA JONES and related properties, film titles and character names are trademarks and/or copyrights, in the United States and other countries, of Lucasfilm Ltd. and/or its affiliates. TM & (C) 2008 Lucasfilm Ltd. All rights reserved. All other trademarks and trade names are properties of their respective owners.
(1) iPod is a registered trademark of Apple Inc. Apple is not a participant or sponsor of this promotion.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080428/NYM041 AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Video: http://www.prnewswire.com/mnr/drpepper/32938
Dr Pepper
CONTACT: Greg Dauphin, Ketchum Public Relations, for Dr Pepper, +1-646-935-4158
Web site: http://www.brandspeoplelove.com/ http://drpepper.com/
Irvine Sensors Regains Compliance With Nasdaq Minimum Stockholders' Equity Requirement
COSTA MESA, Calif., April 28 /PRNewswire-FirstCall/ -- Irvine Sensors Corporation today announced that it has received notification from the Staff of the Nasdaq Stock Market that, based on the Company's Form 8-K/A dated April 24, 2008, the Company complies with Nasdaq Marketplace Rule 4310(c)(3)(A), which requires stockholders' equity of $2.5 million or greater. The referenced Form 8-K/A disclosed a recent exchange of $4 million of the Company's senior debt and interest for newly-issued preferred stock, resulting in an increase of equity. If the Company fails to provide evidence of this compliance upon filing its next periodic report, it may be subject to delisting. Irvine Sensors intends to include a pro-forma balance sheet reflecting the effects of the debt exchange and the resulting increase in equity in its next Form 10-Q, due to be filed in May.
Irvine Sensors Corporation (http://www.irvine-sensors.com/), headquartered in Costa Mesa, California, is a vision systems company engaged in the development and sale of miniaturized infrared and electro-optical cameras, image processors and stacked chip assemblies, the manufacture and sale of optical systems and equipment for military applications through its Optex subsidiary and research and development related to high density electronics, miniaturized sensors, optical interconnection technology, high speed network security, image processing and low-power analog and mixed-signal integrated circuits for diverse systems applications.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This message may contain forward-looking statements based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "think", "may," "will" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, the review of our proposed accounting treatment of our convertible stock transaction, any unforeseen changes in accounting rules affecting such transactions and Nasdaq's acceptance of our evidence of compliance in our next Form 10-Q. Such statements speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, Further information on Irvine Sensors Corporation, including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website (http://www.sec.gov/).
Irvine Sensors Corporation
CONTACT: Investor Relations of Irvine Sensors Corporation, +1-714-444-8718, investorrelations@irvine-sensors.com; or John Baldissera of BPC Financial, 1-800-368-1217
Web site: http://www.irvine-sensors.com/
RadioShack Corporation Announces Earnings per Share of $0.30 for the First Quarter 2008
FORT WORTH, Texas, April 28 /PRNewswire-FirstCall/ -- RadioShack Corporation today announced reported net income of $38.8 million, or $0.30 per diluted share, for the quarter ended March 31, 2008. Net income for the quarter ended March 31, 2007, was $42.5 million, or $0.31 per diluted share. First quarter 2007 net income was positively impacted by a $14 million benefit to gross profit associated with the recapture of federal telecommunication excise tax and negatively impacted by an $8.5 million charge related to employee separations. These items increased earnings per share in the March 2007 quarter by $0.02.
Revenue
First quarter 2008 comparable store sales declined 4.0% versus the first quarter of 2007. The decline in comparable sales was mainly driven by lower sales in Sprint postpaid wireless partially offset by strong sales increases in GPS units, prepaid wireless sales, video gaming, digital cameras and media storage. But for the Sprint postpaid and related wireless accessory business, comp store sales in the first quarter would have increased 0.7%.
"We are pleased with the overall outcome for the first quarter of 2008, especially in light of the difficult economic environment. After a very challenging month of January, our sales and earnings trends improved significantly during February and March, resulting in an average comp store sales decrease of 1.2% for the two months," said Julian Day, Chairman and Chief Executive Officer.
Total sales in the first quarter of 2008 were down $43.3 million to $949.0 million versus total sales of $992.3 million for the same period last year, driven by the decline in comparable store sales.
Operating Income
First quarter 2008 operating income was $64.2 million as compared to $74.6 million in the prior year. Operating income declined due to the comparable store sales decline and a lower gross margin rate partially offset by a reduction in SG&A. For reference, operating income for the quarter ended March 31, 2007, included both the $14 million gross profit benefit as well as the $8.5 million SG&A charge discussed above. The gross margin rate was impacted by negative mix associated with the strong sales results in some lower margin categories, continued price pressure on GPS units and a shift in wireless towards a higher mix of upgrade versus new subscriber business. The gross margin rate was also negatively impacted by an increase in promotional activity as compared to prior year. Selling, general and administration ("SG&A") expenses decreased $31.2 million to $362.4 million compared to $393.6 million for the same period last year. The reductions were predominantly in headquarters and field payroll expense.
Cash Position
RadioShack's cash balance at the end of the first quarter of 2008 was $469 million which was a slight increase over March 31, 2007, despite the company retiring a total of $318 million in debt and equity during the intervening year.
RadioShack announced that it has filed with the SEC its Form 10-Q for the quarter ended March 31, 2008.
Forward-Looking Statements
This press release contains or may contain forward-looking statements, as referenced in the Private Securities Litigation Reform Act of 1995 ("the Act"). These forward-looking statements reflect management's current views and projections regarding economic conditions, retail industry environments and company performance. Factors that could significantly change results include, but are not limited to, sales performance, economic conditions, product demand, expense levels, competitive activity, interest rates, changes in the company's financial condition, availability of products, the regulatory environment and factors affecting the retail category in general. Additional information regarding these and other factors is described in the company's filings with the SEC, including its most recent annual report on Form 10-K and quarterly report on Form 10-Q.
About RadioShack Corporation
RadioShack Corporation is one of the nation's most experienced and trusted consumer electronics specialty retailers. Operating from convenient and comfortable neighborhood and mall locations, RadioShack stores deliver personalized product and service solutions within a few short minutes of where most Americans either live or work. The company has a presence through almost 6,000 company-operated stores and dealer outlets in the United States, over 150 RadioShack locations in Mexico and nearly 800 wireless phone kiosks. RadioShack's dedicated force of knowledgeable and helpful sales associates has been consistently recognized by several independent groups as providing the best customer service in the consumer electronics and wireless industries. For more information on RadioShack Corporation, or to purchase items online, visit http://www.radioshack.com/.
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income (Unaudited)
(In millions, except per share amounts)
Three Months Ended
March 31,
2008 2007
Net sales and operating revenues $949.0 $992.3
Cost of products sold (includes depreciation
amounts of $2.6 million and $2.7 million,
respectively) 499.4 497.0
Gross profit 449.6 495.3
Operating expenses:
Selling, general and administrative 362.4 393.6
Depreciation and amortization 22.4 26.5
Impairment of long-lived assets 0.6 0.6
Total operating expenses 385.4 420.7
Operating income 64.2 74.6
Interest income 3.6 6.5
Interest expense (7.1) (10.6)
Other loss (1.5) (1.0)
Income before income taxes 59.2 69.5
Income tax provision 20.4 27.0
Net income $38.8 $42.5
Net income per share:
Basic $0.30 $0.31
Diluted $0.30 $0.31
Shares used in computing net income per share:
Basic 131.2 136.2
Diluted 131.3 137.1
Shares outstanding 131.1 135.4
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets (Unaudited)
(In millions)
March 31, March 31,
2008 2007
Assets
Current assets:
Cash and cash equivalents $469.3 $463.2
Accounts and notes receivable, net 182.3 168.8
Inventories 663.4 650.8
Other current assets 98.1 131.1
Total current assets 1,413.1 1,413.9
Property, plant and equipment, net 302.7 365.8
Other assets, net 114.0 104.1
Total assets $1,829.8 $1,883.8
Liabilities and Stockholders' Equity
Current liabilities:
Short-term debt, including current
maturities of long-term debt $26.5 $178.5
Accounts payable 200.6 182.3
Accrued expenses and other current liabilities 295.5 330.6
Income taxes payable 21.3 3.6
Total current liabilities 543.9 695.0
Long-term debt, excluding current maturities 353.5 342.0
Other non-current liabilities 120.8 147.3
Total liabilities 1,018.2 1,184.3
Stockholders' equity 811.6 699.5
Total liabilities and stockholders' equity $1,829.8 $1,883.8
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Three Months Ended
March 31,
2008 2007
Cash flows from operating activities:
Net income $38.8 $42.5
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 25.0 29.2
Impairment of long-lived assets 0.6 0.6
Stock option compensation 2.6 3.0
Reversal of unrecognized tax benefits 0.9 -
Deferred income taxes 0.3 -
Other non-cash items (1.9) (1.4)
Provision for credit losses and bad debts 0.2 0.3
Changes in operating assets and liabilities:
Accounts and notes receivable, net 72.8 79.1
Inventories 41.9 101.4
Other current assets (1.5) (10.0)
Accounts payable, accrued expenses, income
taxes payable and other (172.3) (196.9)
Net cash provided by operating activities 7.4 47.8
Cash flows from investing activities:
Additions to property, plant and equipment (14.1) (10.7)
Proceeds from sale of property, plant and
equipment 0.1 1.3
Other investing activities 0.9 (0.3)
Net cash used in investing activities (13.1) (9.7)
Cash flows from financing activities:
Purchases of treasury stock - (45.2)
Proceeds from exercise of stock options - 19.9
Changes in short-term borrowings and outstanding
checks in excess of cash balances, net (29.7) (21.6)
Reductions of long-term borrowings (5.0) -
Net cash used in financing activities (34.7) (46.9)
Net decrease in cash and cash equivalents (40.4) (8.8)
Cash and cash equivalents, beginning of period 509.7 472.0
Cash and cash equivalents, end of period $469.3 $463.2
RADIOSHACK CORPORATION AND SUBSIDIARIES
(In millions)
FREE CASH FLOW
Three Months Ended Increase/
March 31, (Decrease)
2008 2007 2008 vs 2007
Net cash provided by operating
activities $7.4 $47.8 $(40.4)
Less:
Additions to property, plant and
equipment 14.1 10.7 3.4
Free cash flow $(6.7) $37.1 $(43.8)
Free cash flow, a non-GAAP financial measure, is defined as net cash from operating activities minus additions to property, plant, and equipment (a.k.a. capital expenditures) minus dividends paid. Management believes free cash flow, a non-GAAP financial measure, to be a relevant indicator of RadioShack's ability to repay maturing debt, change dividend payments or fund other uses of capital. Free cash flow should not be used by investors or others as the sole basis for formulating decisions or as a substitute for measures prepared in accordance with GAAP, as it excludes a number of important items. Management also compensates for limitations in free cash flow by using GAAP financial measures as well in managing RadioShack.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000518/DATH047LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
RadioShack Corporation
CONTACT: Martin O. Moad, Vice President and Controller of RadioShack Corporation, +1-817-415-2383, investor.relations@radioshack.com
Web site: http://www.radioshack.com/
ACS to Acquire CompIQ CorporationExpands Healthcare and Insurance Payer Capabilities
DALLAS, April 28 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc. today announced an agreement to acquire CompIQ Corporation (CompIQ), an Irvine, California-based provider of workers' compensation claims review, re-pricing and software solutions for $22 million, plus contingent payments based on future financial performance. The transaction will be funded with a combination of cash on hand and borrowings under ACS' existing credit facility. The acquisition is expected to close in May 2008, subject to customary conditions.
CompIQ is a national provider of medical bill review and cost-containment services for the workers' compensation, group health and liability insurance industries. Utilizing its proprietary web-based software, IQReview, CompIQ enables clients to save money and increase operating efficiency by re-pricing medical bills in accordance with usual and customary rates, state and hospital fee schedules and preferred provider organization discounts.
"This acquisition demonstrates our commitment to helping our clients manage their insurance and healthcare costs by providing technology-enabled medical bill review and recovery services," said Tom Blodgett, group president of ACS Business Process Solutions. "The addition of CompIQ gives us capabilities we do not possess today and helps differentiate ACS as a leading provider of responsive, reliable and flexible solutions to the healthcare and insurance payer markets."
CompIQ's trailing twelve month revenue for the period ending March 31, 2008, was approximately $17 million. The business will be known as ACS CompIQ and will continue to be managed by CompIQ's existing executive team, adding approximately 130 employees to ACS operations.
"The combination of ACS and CompIQ increases our ability to penetrate the bill review market," said Art Zeiner, Jr., founder and chief executive officer of CompIQ. "ACS will be able to leverage our industry expertise to provide end-to-end audit, bill review and recovery services, and we will be able to cross sell the full suite of ACS services to our existing clients. We look forward to helping ACS meet its long-term growth objectives, not only by providing state-of-the-art administrative services, but also by enabling our clients to manage their overall healthcare, insurance and operating costs."
CompIQ was founded in 1997 and has become the premier national provider of medical bill review software and services to the workers' compensation, group health and liability insurance industry. It developed the first paperless workflow for medical bill review, incorporating an innovative web-based tool that allows claims professionals to view medical bills and re-pricing information from their desktop without exiting their claim management software. CompIQ is also an expert in the development of electronic data interface for integration, offering a wide variety of software applications used in the management and adjudication of workers' compensation claims. In addition to its software solutions, CompIQ provides customized offerings designed to fit the unique requirements of every cost-containment program.
ACS, a global FORTUNE 500 company with 62,000 people supporting client operations reaching more than 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." Learn more about ACS at http://www.acs-inc.com/.
The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the company's prior filings with the Securities and Exchange Commission, including our most recent filing. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise.
Affiliated Computer Services, Inc.
CONTACT: Investors, Jon Puckett, Vice President, Investor Relations, +1-214-841-8281, jon.puckett@acs-inc.com, or Media, Tom Clary, Director, Corporate Communications, +1-214-841-8110, tom.clary@acs-inc.com, all of Affiliated Computer Services, Inc.
Web site: http://www.acs-inc.com/
MIPS Technologies Launches Company's First European University Program for Design EngineersTeams with Prestigious Portuguese University to Drive Engineering Design Innovation
PORTO, Portugal, April 28 /PRNewswire-FirstCall/ -- MIPS Technologies, Inc. , a leading provider of industry-standard architectures, processors and analog IP for digital consumer, home networking, wireless, communications and business applications, today announced it is teaming with the Faculdade de Engenharia da Universidade do Porto (FEUP), a leading school of engineering in Portugal, to further innovation and technical advancement in microelectronics. The multi-year agreement provides a foundation for enhanced educational research by the masters and doctoral programs of the school's Electrical and Computer Engineering Department. The agreement will also help prepare engineering students for careers in semiconductor design, where a large number of companies are already leveraging MIPS' IP in a wide array of embedded designs.
Through the program, a distinct group of graduate students will have access to MIPS Technologies' IP to conduct research in the areas of architectural design implementation, back-end synthesis and flows, peripheral interfaces, pipelines, co-processor development, user-defined instruction blocks, and other key areas that impact performance, power dissipation, cost, and critical time-to-market efficiencies in today's semiconductor devices. MIPS Technologies and FEUP will work jointly to create a student package using the MIPS IP. This package will serve as a valuable tool that can be used to enhance the study of architecture, micro-architecture and processor design in university classrooms around the globe.
"We are thrilled to be partnering with a world-class university to expand academic research in micro-architecture and processor design," said Jose Franca, president and general manager of MIPS Technologies' Analog Business Group. "With an impressive number of former FEUP students now employed locally in MIPS' Analog Business Group, we are proud to have such rare talent that is now part of the future of advanced embedded design. Through some bright engineering students, we are increasing awareness of MIPS as an industry-leading architecture -- which is used in many of today's digital consumer, home networking and portable media applications."
"We are honored that MIPS chose FEUP for its first ever European university program," said Professor Jose Silva Matos, chairman of the Department of Electrical and Computer Engineering at FEUP. "We see the partnership with MIPS as helping to enhance education and cutting-edge research, while providing a deep knowledge exchange between MIPS engineers, our students and professors. We are closing the gap between the industry and academia by strengthening ties with one of the world's leading semiconductor IP companies."
According to Radhika Thekkath, MIPS Technologies' Director of Business Development and Strategic Planning, "We selected FEUP as the site for our first European university program because of its renowned curriculum for computer and electrical engineering throughout Portugal. We look forward to continuing to build our relationship with the university and further collaborate on next-generation embedded technologies."
About FEUP
The Faculty of Engineering (FEUP) is one of the 14 Faculties of the University of Porto, the largest Portuguese University with nearly 28,000 students. FEUP has a full-time teaching and research staff of about 370, and a student body of 6,600 (2,000 at the MSC and PhD level). For more information, visit http://www.fe.up.pt/. The Department of Electrical and Computer Engineering (DEEC) of FEUP covers the main areas of modern Electrical Engineering, with emphasis on Power Systems, Automation, Control, Electronics, Digital Systems, and Communications. A staff of 80 PhDs is strongly involved in two main teaching programs: a 5-year Integrated Masters and a Doctoral Program in Electrical and Computer Engineering. Research is carried out within the framework of three associated Research Institutes: INESC Porto (Power Systems, Information Systems, Microelectronics, Optoelectronics, Communications and Multimedia), ISR (Systems and Robotics) and INEB (Biomedical Engineering).
About MIPS Technologies, Inc.
MIPS Technologies, Inc. is the world's second largest semiconductor design IP company and the number one analog IP company worldwide. With more than 250 customers around the globe, MIPS Technologies powers some of the world's most popular products for the digital consumer, broadband, wireless, networking and portable media markets -- including broadband devices from Linksys, DTVs and entertainment systems from Sony, DVD recordable devices from Pioneer, digital set-top boxes from Motorola, network routers from Cisco, 32-bit microcontrollers from Microchip Technology and laser printers from Hewlett-Packard. Today, the company owns more than 400 patent properties (patents and applications) worldwide. Founded in 1998, MIPS Technologies is headquartered in Mountain View, California, with offices worldwide. For more information, contact (650) 567-5000 or visit http://www.mips.com/.
MIPS is a trademark or registered trademark in the United States and other countries of MIPS Technologies, Inc. All other trademarks referred to herein are the property of their respective owners. Chipidea is a trademark or registered trademark in the United States and other countries of Chipidea-Microelectronica, S.A., Inc. All other trademarks referred to herein are the property of their respective owners.
MIPS Technologies, Inc.
CONTACT: Jen Bernier, +1-650-567-5178, jenb@mips.com, or Ana Leal, +351 21 033 63 00, aileal@mips.com, both of MIPS Technologies, Inc.; or Ana Martins of FEUP, Univ. Porto, +351 22 508 14 79, anam@fe.up.pt
Web site: http://www.mips.com/ http://www.fe.up.pt/
ACM and Infosys Foundation Announce Winner of New Award Honoring Contemporary Contributions in Computer Science$150,000 Prize to Stanford's Koller for Groundbreaking Work in Making Computers Intelligent
NEW YORK and BANGALORE, INDIA, April 28 /PRNewswire/ -- ACM (the Association for Computing Machinery) announced today that Daphne Koller, a professor at Stanford University, has been awarded the first-ever ACM-Infosys Foundation Award in Computing Sciences. Koller, 39, is being recognized for her innovative approach to Artificial Intelligence (AI) that allows computers to reason and learn about the world from real-world data. By combining the previously incompatible tools of logic and probability that are the basic principles of intelligent reasoning, she created a new field of learning that has transformed the way computers can process vast amounts of diverse, uncertain, often-conflicting data to solve complex real-world problems.
This new award, announced in August 2007, recognizes personal contributions by young scientists and system developers to a contemporary innovation that exemplifies the greatest recent achievements in the computing field. Financial support for the $150,000 award is provided by an endowment from the Infosys Foundation.
"Professor Koller's advances have been productive not only for computer science, but in a wide variety of applications that use computing to advance society in numerous ways," said Stuart I. Feldman, President of ACM. "Her research has been used as a framework to solve problems in such diverse fields as computational biology and epidemiology; language processing systems; robotics; and computer perception in understanding images. By using her models and algorithms to integrate small bits and pieces of data in systematic ways that produce stronger conclusions, her work offers a powerful way to think about the world. She is an ideal choice for the first recipient of this award, so generously donated by Infosys," said Feldman, who is vice president of Engineering at Google Inc.
Koller's research aims to build intelligent systems using techniques that underlie rational reasoning and learning. It unifies ideas from relational logic, which involves reasoning about objects and the relationships between them, and probability, which provides tools for dealing with uncertainty. Her synthesis of logic and probability is known as probabilistic relational modeling. She has also developed new mathematical and computational tools that allow us to learn from complex data the probabilistic rules that model the world, and to use these rules to reach strong conclusions about the world.
"The ACM-Infosys Foundation Award recognizes young researchers who are currently making sizeable contributions to their fields and furthering computer science innovation. The goal is to identify scientifically-sound breakthrough research with potentially broad implications, and encourage the recipients to further their research," said S. Gopalakrishnan, CEO and managing director, Infosys Technologies. "Daphne Koller is a shining example of a pioneering researcher whose multi-disciplinary work in artificial intelligence is enabling computers to operate at a new level and solve complex problems spanning epidemiology, robotics and language processing systems."
Koller also heads Stanford's undergraduate research program in computer science (CS), which she initiated in 2001. It provides summer research internships to encourage students to get involved in CS research with faculty mentors early in their careers. To date, nearly three hundred students have benefited from this program. In 2003, Koller was awarded the Cox Medal for excellence in fostering undergraduate research at Stanford.
In 2004, Koller was named a MacArthur Fellow. In 2001, she received the Computer and Thought Award from the International Joint Conferences on Artificial Intelligence (IJCAI), and in 1999, she was awarded the Presidential Early Career Award for Scientists and Engineers.
Koller has served the computing community in a variety of professional roles, including Program Chair for the 2007 Conference on Neural Information Processing Systems (NIPS), and the 2001 Conference on Uncertainty in Artificial Intelligence. She was associate editor for the Journal of Artificial Intelligence Research and Machine Learning Journal. She is the author of more than 150 peer-reviewed articles in publications that span Science, Nature Genetics, Proceedings of the National Academy of Sciences, the Journal of Artificial Intelligence Research, Machine Learning, and Games and Economic Behavior.
Koller received a B.Sc. in mathematics and a M.Sc. degree in computer science from Hebrew University in Jerusalem, Israel. She earned a Ph.D. degree from Stanford and was a postdoctoral fellow at the University of California, Berkeley. She joined the Stanford faculty in 1995.
ACM will present the ACM-Infosys Foundation Award at the annual ACM Awards Banquet on June 21, 2008, in San Francisco, CA. For more information, click on http://www.acm.org/membership/infosys_award.
About ACM
ACM, the Association for Computing Machinery http://www.acm.org/, is the world's largest educational and scientific computing society, uniting computing educators, researchers and professionals to inspire dialogue, share resources and address the field's challenges. ACM strengthens the computing profession's collective voice through strong leadership, promotion of the highest standards, and recognition of technical excellence. ACM supports the professional growth of its members by providing opportunities for life-long learning, career development, and professional networking.
About The Infosys Foundation
Established in 1996, the Infosys Foundation is the philanthropic arm of Infosys Technologies Ltd. and has the sole objective of fulfilling the social responsibility of the company by creating opportunities and working toward a more equitable society. The Infosys Foundation has made effective strides in the areas of healthcare, education, social rehabilitation, and the arts. The company contributes up to one percent of its profit to the foundation each year.
About Infosys Technologies
Infosys defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 91,000 employees in over 40 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit http://www.infosys.com/.
ACM
CONTACT: Virginia Gold of ACM, +1-212-626-0505, vgold@acm.org; or Peter McLaughlin of Infosys Technologies, Ltd., +1-213-268-9363, peter_mclaughlin@infosys.com
Web site: http://www.acm.org/ http://www.infosys.com/
ARM and Mindspeed(R) Address Next-Generation Home Gateways With Multiprocessing TechnologyCollaboration Builds on Success of ARM Powered Mindspeed Comcerto(R) 100 Platform
CAMBRIDGE, England and NEWPORT BEACH, California, April 28
/PRNewswire-FirstCall/ -- ARM [; ] and Mindspeed Technologies today announced an ongoing collaboration designed to address the needs of broadband service providers delivering triple- (voice, data, video) and quad-play (+ cellular) applications to homes and small businesses.
The collaboration has already resulted in the successful development and launch last year of the Mindspeed Comcerto 100 series of broadband gateway processors. The Comcerto 100 is a single chip solution based on two ARM1136J-S(TM) processors and provides the best performance-power-cost profile in its class by optimal decomposition of broadband gateway functions among the two processors.
Because the Comcerto 100 is based on the ARM(R) architecture, Mindspeed was able to provide high performance at low cost and with extremely low power. In addition, the scalability of the high-performance ARM processor-based multicore solution enables the Comcerto100 to provide significant application headroom for future service deployments.
"The ARM architecture is the optimal solution to enable us to offer best-in-class quality of service (QoS) for the service delivery platforms that are emerging as broadband gateways evolve into an intelligent access point in the home, managing multiple end-nodes with multimedia capabilities," said Preet Virk, senior vice president and general manager of Mindspeed's enterprise and customer premise equipment. "The need for more bandwidth and sophisticated services within an ever-diminishing power budget can only realistically be met by high-performance multiprocessing. As the leading provider of high-performance embedded multicore processing solutions, ARM is our logical choice for future development."
"Mindspeed is a leading implementer of multicore platforms optimized for gateway applications," said Ian Ferguson, director Enterprise Solutions, ARM. "We look forward to a long term engagement with Mindspeed as they expand their portfolio of innovative multicore-based SoCs utilizing the ARM Cortex(TM)-A9 MPCore multicore processor to address next-generation service provider gateway requirements."
The two companies are already collaborating on next-generation gateway platform solutions for the residential and enterprise market segments and co-marketing these solutions to service providers and OEMs/ODMs.
The Comcerto100 architecture uses optimal decomposition of broadband gateway functions among two high-performance ARM1136J-S processors to ensure QoS for real-time applications. With real-time processing such as voice, video and packet forwarding optimized to reside on one of the processors and non real-time processing such as network monitoring and subscriber management on the second; the Comcerto100 broadband gateway architecture protects the quality and reliability of revenue-bearing services while providing application headroom for future service deployments. Because of this asymmetric multicore partitioning, OEMs and service providers can easily program higher level applications without worrying about the impact to real-time functionality or headroom limitations due to shared processing resources.
With clear demarcation between real-time processing like voice and video and non real-time processing such as monitoring and subscriber management, the Comcerto 100 processor enables a broadband gateway architecture that protects revenue-bearing services while providing application headroom for future service deployments.
About ARM
"ARM designs the technology that lies at the heart of advanced digital products, from wireless, networking and consumer entertainment solutions to imaging, automotive, security and storage devices. ARM's comprehensive product offering includes 32-bit RISC microprocessors, graphics processors, enabling software, cell libraries, embedded memories, high-speed connectivity products, peripherals and development tools. Combined with comprehensive design services, training, support and maintenance, and the company's broad Partner community, they provide a total system solution that offers a fast, reliable path to market for leading electronics companies. More information on ARM is available at http://www.arm.com/."
About Mindspeed Technologies
Mindspeed Technologies, Inc. designs, develops and sells semiconductor networking solutions for communications applications in enterprise, access, metropolitan and wide area networks. The company's three key product families include high-performance analog transmission and switching solutions, multiservice access products designed to support voice and data services across wireline and wireless networks, and WAN communications solutions including T/E carrier physical-layer and link-layer devices as well as ATM/MPLS network processors. Mindspeed's products are used in a wide variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers and digital loop carrier equipment. To learn more, visit http://www.mindspeed.com/.
ARM is a registered trademark of ARM Limited. Cortex, MPCore and ARM1136J-S are trademarks of ARM Limited. All other brands or product names are the property of their respective holders. "ARM" is used to represent ARM Holdings plc; its operating company ARM Limited; and the regional subsidiaries: ARM, Inc.; ARM KK; ARM Korea Ltd.; ARM Taiwan Limited; ARM France SAS; ARM Consulting (Shanghai) Co. Ltd.; ARM Belgium N.V.; AXYS Design Automation Inc.; ARM Germany GmbH; ARM Embedded Technologies Pvt. Ltd.; and ARM Norway, AS.
Safe Harbor Statement
This press release contains statements relating to Mindspeed, and our future results, including certain projections and business trends, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results, and actual events that occur, may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: market demand for our new and existing products and our ability to increase our revenues; our ability to maintain operating expenses within anticipated levels; our ability to further generate cash; availability and terms of capital needed for our business; constraints in the supply of wafers and other product components from our third-party manufacturers; our ability to successfully and cost effectively establish and manage operations in foreign jurisdictions; our ability to attract and retain qualified personnel; successful development and introduction of new products; our ability to successfully integrate acquired businesses and realize the anticipated benefits from such acquisitions; our ability to obtain design wins and develop revenues from them; pricing pressures and other competitive factors; industry consolidation; order and shipment uncertainty; changes in our customers' inventory levels and inventory management practices; fluctuations in manufacturing yields; product defects; and intellectual property infringement claims by others and the ability to protect our intellectual property, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings.
ARM Ltd
CONTACT: Contact Details: ARM PRESS OFFICE: +44-208-846-0797, Wendy Hynes, Text100, +1-415-593-8444, wendyh@text100.com. Alan Tringham, ARM, +44-1223-400947, alan.tringham@arm.com. Erik Ploof, ARM, +1-425-880-6033, erik.ploof@arm.com
Beautiful to Use: Nokia Unveils Three New Handsets That Merge Modern Functionality With Classic and Sophisticated Looks
ESPOO, Finland, April 28 /PRNewswire-FirstCall/ -- Nokia today unveiled a trio of mobile devices that balance stunning and sophisticated looks with the latest in mobile functionality. All three devices, the Nokia 6600 fold, the Nokia 6600 slide and the Nokia 3600 slide present a smooth, minimalist design and an appealing array of easy-to-use features. The devices range in price from 175 EUR to 275 EUR before taxes and subsidies and are expected to start shipping during the third quarter of 2008.
"There is a strong consumer demand for mobile handsets that blend elegant looks with modern features," said Mikkel Drucker, Director, Connect Devices. "Each of the three devices introduced today offers a slightly different take on a core design language. We believe they are both beautiful to use and beautiful to behold - and offer a range of choice."
Nokia 6600 fold - Smart and sophisticated looks
With one touch of a button, the elegant Nokia 6600 fold smoothly opens to reveal a stunningly bright 2.13'' OLED screen displaying up to 16 million colors. With its seamless design, the signature "smooth back" of the Nokia 6600 fold creates a comfortable contour when open, and remains subtle and compact when closed. The high-gloss surface of the Nokia 6600 fold comes to life when tapped twice to "wake up" the hidden outer display that reveals time, incoming messages, missed calls and more. A double tap on the Nokia 6600 fold also snoozes alerts and silences or rejects incoming phone calls.
With a set of contemporary mobile features that belie its compact size, the Nokia 6600 fold is proof positive that beauty can be far more than skin deep. 3G technology allows for fast and easy sharing of pictures and videos snapped with the integrated 2 megapixel camera with double LED flash or swift access to Internet services such as Yahoo! Go or Flickr.
The Nokia 6600 fold easily fits into a pocket or a handbag and has an estimated retail price of 275 EUR excluding taxes and subsidies.
Nokia 6600 slide - Compact and balanced
Being one of Nokia's smallest sliders to date, the Nokia 6600 slide stays true to its name as it smoothly glides open in the hand. The appearance of the Nokia 6600 slide with its glossy, high-quality steel covers and aluminium center key constitute both understated elegance as well as visual simplicity. Its well-balanced feature set is created to be exciting and intuitive. Tapping the Nokia 6600 slide twice conveniently indicates time, snoozes, alerts and silences or rejects incoming phone calls.
The 3.2 megapixel camera takes high quality pictures and videos that can be shared with others via Internet services or multimedia message - directly from the photo menu. The large 2.2" QVGA display with 16 million colors also makes it easy to find your way around town, thanks to the integrated Nokia Maps application which can be enhanced with an optional Nokia Bluetooth GPS Module LD-4W and separate navigation license. The slim, lightweight Nokia Bluetooth GPS Module LD-4W features an innovative design that takes Bluetooth navigation beyond the car and into the hands of urban trekkers and leisure travelers.
The Nokia 6600 slide has an estimated retail price of 250 EUR excluding taxes and subsidies.
Nokia 3600 slide - Contemporary combination
The Nokia 3600 slide aims to win hearts with a blend of tasteful colors, materials and tactile finishes, and minds with a full range of the latest features. Soft ceramic paint and metal combined with high gloss surfaces and gradated colors to make the Nokia 3600 slide beautiful to both touch and see. The Nokia 3600 slide is equally beautiful to hear as it is the first Nokia product to feature background noise cancellation. With a built-in music player the Nokia 3600 slide offers up to 3000 favorite songs on an optional 4 microSD card.
The small, ergonomically shaped Nokia 3600 slide also delivers a 3.2 megapixel camera with autofocus and 2 LED flash and is excellent for taking pictures or videos, even in dim lighting conditions. The TV-out feature, which conveniently connects the Nokia 3600 slide to most television sets, ensures quick and easy sharing of pictures and videos.
While the beauty of the Nokia 3600 slide will tell the world about its owner, the pre-installed Nokia Maps application with an optional Nokia Bluetooth GPS Module LD-4W will tell the owner a lot about the world they are in. The Nokia Maps application holds more than 15 million points of interests, including restaurants, shops, hotels and more.
The Nokia 3600 slide has an estimated retail price of 175 EUR excluding taxes and subsidies.
Complementing the three handsets launched today, the new Nokia Bluetooth Headset BH-803 echos the classic style of the handsets with a sleek design and stainless steel details.An optional ear loop makes it comfortable to wear, while the exceptional voice quality, touch sensitive volume control and voice dialling activation make for easy use of the Nokia Bluetooth Headset BH-803.
Press material can be found at http://www.nokia.com/press/beautifultouse and http://www.nokia.com/press.
About Nokia
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. We make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Developing and growing our offering of consumer Internet services, as well as our enterprise solutions and software, is a key area of focus. We also provide equipment, solutions and services for communications networks through Nokia Siemens Networks.
http://www.nokia.com/
Nokia Corporation
CONTACT: Media Enquiries: Nokia, Communications, Tel. +358-7180-34900, Email: press.services@nokia.com; Nokia, Devices, Communications, Benjamin Lampe, Tel. +358-7180-60992, Email: benjamin.lampe@nokia.com
ARM and Mindspeed(R) Address Next-Generation Home Gateways With Multiprocessing Technology
CAMBRIDGE, England and NEWPORT BEACH, California, April 28 /PRNewswire/ --
- Collaboration Builds on Success of ARM Powered Mindspeed Comcerto(R)
100 Platform
ARM [(LSE: ARM); (Nasdaq: ARMH)] and Mindspeed Technologies
(Nasdaq: MSPD) today announced an ongoing collaboration designed to address
the needs of broadband service providers delivering triple- (voice, data,
video) and quad-play (+ cellular) applications to homes and small businesses.
The collaboration has already resulted in the successful development and
launch last year of the Mindspeed Comcerto 100 series of broadband gateway
processors. The Comcerto 100 is a single chip solution based on two
ARM1136J-S(TM) processors and provides the best performance-power-cost
profile in its class by optimal decomposition of broadband gateway functions
among the two processors.
Because the Comcerto 100 is based on the ARM(R) architecture, Mindspeed
was able to provide high performance at low cost and with extremely low
power. In addition, the scalability of the high-performance ARM
processor-based multicore solution enables the Comcerto100 to provide
significant application headroom for future service deployments.
"The ARM architecture is the optimal solution to enable us to offer
best-in-class quality of service (QoS) for the service delivery platforms
that are emerging as broadband gateways evolve into an intelligent access
point in the home, managing multiple end-nodes with multimedia capabilities,"
said Preet Virk, senior vice president and general manager of Mindspeed's
enterprise and customer premise equipment. "The need for more bandwidth and
sophisticated services within an ever-diminishing power budget can only
realistically be met by high-performance multiprocessing. As the leading
provider of high-performance embedded multicore processing solutions, ARM is
our logical choice for future development."
"Mindspeed is a leading implementer of multicore platforms optimized for
gateway applications," said Ian Ferguson, director Enterprise Solutions, ARM.
"We look forward to a long term engagement with Mindspeed as they expand
their portfolio of innovative multicore-based SoCs utilizing the ARM
Cortex(TM)-A9 MPCore multicore processor to address next-generation service
provider gateway requirements."
The two companies are already collaborating on next-generation gateway
platform solutions for the residential and enterprise market segments and
co-marketing these solutions to service providers and OEMs/ODMs.
The Comcerto100 architecture uses optimal decomposition of broadband
gateway functions among two high-performance ARM1136J-S processors to ensure
QoS for real-time applications. With real-time processing such as voice,
video and packet forwarding optimized to reside on one of the processors and
non real-time processing such as network monitoring and subscriber management
on the second; the Comcerto100 broadband gateway architecture protects the
quality and reliability of revenue-bearing services while providing
application headroom for future service deployments. Because of this
asymmetric multicore partitioning, OEMs and service providers can easily
program higher level applications without worrying about the impact to
real-time functionality or headroom limitations due to shared processing
resources.
With clear demarcation between real-time processing like voice and video
and non real-time processing such as monitoring and subscriber management,
the Comcerto 100 processor enables a broadband gateway architecture that
protects revenue-bearing services while providing application headroom for
future service deployments.
About ARM
"ARM designs the technology that lies at the heart of advanced digital
products, from wireless, networking and consumer entertainment solutions to
imaging, automotive, security and storage devices. ARM's comprehensive
product offering includes 32-bit RISC microprocessors, graphics processors,
enabling software, cell libraries, embedded memories, high-speed connectivity
products, peripherals and development tools. Combined with comprehensive
design services, training, support and maintenance, and the company's broad
Partner community, they provide a total system solution that offers a fast,
reliable path to market for leading electronics companies. More information
on ARM is available at http://www.arm.com."
About Mindspeed Technologies
Mindspeed Technologies, Inc. designs, develops and sells semiconductor
networking solutions for communications applications in enterprise, access,
metropolitan and wide area networks. The company's three key product families
include high-performance analog transmission and switching solutions,
multiservice access products designed to support voice and data services
across wireline and wireless networks, and WAN communications solutions
including T/E carrier physical-layer and link-layer devices as well as
ATM/MPLS network processors. Mindspeed's products are used in a wide variety
of network infrastructure equipment, including voice and media gateways,
high-speed routers, switches, access multiplexers, cross-connect systems,
add-drop multiplexers and digital loop carrier equipment. To learn more,
visit http://www.mindspeed.com.
ARM is a registered trademark of ARM Limited. Cortex, MPCore and
ARM1136J-S are trademarks of ARM Limited. All other brands or product names
are the property of their respective holders. "ARM" is used to represent ARM
Holdings plc; its operating company ARM Limited; and the regional
subsidiaries: ARM, Inc.; ARM KK; ARM Korea Ltd.; ARM Taiwan Limited; ARM
France SAS; ARM Consulting (Shanghai) Co. Ltd.; ARM Belgium N.V.; AXYS Design
Automation Inc.; ARM Germany GmbH; ARM Embedded Technologies Pvt. Ltd.; and
ARM Norway, AS.
Safe Harbor Statement
This press release contains statements relating to Mindspeed, and our
future results, including certain projections and business trends, that are
"forward-looking statements" as defined in the Private Securities Litigation
Reform Act of 1995. Actual results, and actual events that occur, may differ
materially from those projected as a result of certain risks and
uncertainties. These risks and uncertainties include, but are not limited to:
market demand for our new and existing products and our ability to increase
our revenues; our ability to maintain operating expenses within anticipated
levels; our ability to further generate cash; availability and terms of
capital needed for our business; constraints in the supply of wafers and
other product components from our third-party manufacturers; our ability to
successfully and cost effectively establish and manage operations in foreign
jurisdictions; our ability to attract and retain qualified personnel;
successful development and introduction of new products; our ability to
successfully integrate acquired businesses and realize the anticipated
benefits from such acquisitions; our ability to obtain design wins and
develop revenues from them; pricing pressures and other competitive factors;
industry consolidation; order and shipment uncertainty; changes in our
customers' inventory levels and inventory management practices; fluctuations
in manufacturing yields; product defects; and intellectual property
infringement claims by others and the ability to protect our intellectual
property, as well as other risks and uncertainties, including those detailed
from time to time in our Securities and Exchange Commission filings.
ARM Ltd
Contact Details: ARM PRESS OFFICE: +44-208-846-0797, Wendy Hynes, Text100, +1-415-593-8444, wendyh@text100.com. Alan Tringham, ARM, +44-1223-400947, alan.tringham@arm.com. Erik Ploof, ARM, +1-425-880-6033, erik.ploof@arm.com
ACM and Infosys Foundation Announce Winner of New Award Honoring Contemporary Contributions in Computer Science
NEW YORK and Bangalore, INDIA, April 28 /PRNewswire/ --
- US$150,000 Prize to Stanford's Koller for Groundbreaking Work in Making
Computers Intelligent
ACM (the Association for Computing Machinery) announced today that Daphne
Koller, a professor at Stanford University, has been awarded the first-ever
ACM-Infosys Foundation Award in Computing Sciences. Koller, 39, is being
recognized for her innovative approach to Artificial Intelligence (AI) that
allows computers to reason and learn about the world from real-world data. By
combining the previously incompatible tools of logic and probability that are
the basic principles of intelligent reasoning, she created a new field of
learning that has transformed the way computers can process vast amounts of
diverse, uncertain, often-conflicting data to solve complex real-world
problems.
This new award, announced in August 2007, recognizes personal
contributions by young scientists and system developers to a contemporary
innovation that exemplifies the greatest recent achievements in the computing
field. Financial support for the US$150,000 award is provided by an endowment
from the Infosys Foundation.
"Professor Koller's advances have been productive not only for computer
science, but in a wide variety of applications that use computing to advance
society in numerous ways," said Stuart I. Feldman, President of ACM. "Her
research has been used as a framework to solve problems in such diverse
fields as computational biology and epidemiology; language processing
systems; robotics; and computer perception in understanding images. By using
her models and algorithms to integrate small bits and pieces of data in
systematic ways that produce stronger conclusions, her work offers a powerful
way to think about the world. She is an ideal choice for the first recipient
of this award, so generously donated by Infosys," said Feldman, who is vice
president of Engineering at Google Inc.
Koller's research aims to build intelligent systems using techniques that
underlie rational reasoning and learning. It unifies ideas from relational
logic, which involves reasoning about objects and the relationships between
them, and probability, which provides tools for dealing with uncertainty. Her
synthesis of logic and probability is known as probabilistic relational
modeling. She has also developed new mathematical and computational tools
that allow us to learn from complex data the probabilistic rules that model
the world, and to use these rules to reach strong conclusions about the
world.
"The ACM-Infosys Foundation Award recognizes young researchers who are
currently making sizeable contributions to their fields and furthering
computer science innovation. The goal is to identify scientifically-sound
breakthrough research with potentially broad implications, and encourage the
recipients to further their research," said S. Gopalakrishnan, CEO and
managing director, Infosys Technologies. "Daphne Koller is a shining example
of a pioneering researcher whose multi-disciplinary work in artificial
intelligence is enabling computers to operate at a new level and solve
complex problems spanning epidemiology, robotics and language processing
systems."
Koller also heads Stanford's undergraduate research program in computer
science (CS), which she initiated in 2001. It provides summer research
internships to encourage students to get involved in CS research with faculty
mentors early in their careers. To date, nearly three hundred students have
benefited from this program. In 2003, Koller was awarded the Cox Medal for
excellence in fostering undergraduate research at Stanford.
In 2004, Koller was named a MacArthur Fellow. In 2001, she received the
Computer and Thought Award from the International Joint Conferences on
Artificial Intelligence (IJCAI), and in 1999, she was awarded the
Presidential Early Career Award for Scientists and Engineers.
Koller has served the computing community in a variety of professional
roles, including Program Chair for the 2007 Conference on Neural Information
Processing Systems (NIPS), and the 2001 Conference on Uncertainty in
Artificial Intelligence. She was associate editor for the Journal of
Artificial Intelligence Research and Machine Learning Journal. She is the
author of more than 150 peer-reviewed articles in publications that span
Science, Nature Genetics, Proceedings of the National Academy of Sciences,
the Journal of Artificial Intelligence Research, Machine Learning, and Games
and Economic Behavior.
Koller received a B.Sc. in mathematics and a M.Sc. degree in computer
science from Hebrew University in Jerusalem, Israel. She earned a Ph.D.
degree from Stanford and was a postdoctoral fellow at the University of
California, Berkeley. She joined the Stanford faculty in 1995.
ACM will present the ACM-Infosys Foundation Award at the annual ACM
Awards Banquet on June 21, 2008, in San Francisco, CA. For more information,
click on http://www.acm.org/membership/infosys_award.
About ACM
ACM, the Association for Computing Machinery http://www.acm.org, is the
world's largest educational and scientific computing society, uniting
computing educators, researchers and professionals to inspire dialogue, share
resources and address the field's challenges. ACM strengthens the computing
profession's collective voice through strong leadership, promotion of the
highest standards, and recognition of technical excellence. ACM supports the
professional growth of its members by providing opportunities for life-long
learning, career development, and professional networking.
About The Infosys Foundation
Established in 1996, the Infosys Foundation is the philanthropic arm of
Infosys Technologies Ltd. and has the sole objective of fulfilling the social
responsibility of the company by creating opportunities and working toward a
more equitable society. The Infosys Foundation has made effective strides in
the areas of healthcare, education, social rehabilitation, and the arts. The
company contributes up to one percent of its profit to the foundation each
year.
About Infosys Technologies
Infosys (Nasdaq: INFY) defines, designs and delivers IT-enabled business
solutions that help Global 2000 companies win in a Flat World. These
solutions focus on providing strategic differentiation and operational
superiority to clients. With Infosys, clients are assured of a transparent
business partner, world-class processes, speed of execution and the power to
stretch their IT budget by leveraging the Global Delivery Model that Infosys
pioneered. Infosys has over 91,000 employees in over 40 offices worldwide.
Infosys is part of the NASDAQ-100 Index. For more information, visit
http://www.infosys.com.
Web site: http://www.acm.org
http://www.infosys.com
ACM
Virginia Gold of ACM, +1-212-626-0505, vgold@acm.org; or Peter McLaughlin of Infosys Technologies, Ltd., +1-213-268-9363, peter_mclaughlin@infosys.com
China Digital TV to Report First Quarter 2008 Financial Results on May 14, 2008
BEIJING, April 28 /Xinhua-PRNewswire/ -- China Digital TV Holding Co., Ltd. (''China Digital TV'') , the leading provider of conditional access systems to China's rapidly growing digital television market, will announce its financial results for the first quarter ended March 31, 2008 after the U.S. market closes on May 14, 2008. China Digital TV's management will hold a conference call at 8 p.m. on May 14, 2008 U.S. Eastern Time (8 a.m. on May 15, 2008 Beijing/Hong Kong time).
Dial-in details for this conference call are as follows:
United States Toll Free: 1.800.884.5695
International: 1.617.786.2960
Hong Kong: 852.3002.1672
China Toll Free: 10.800.130.0399
Please dial-in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode for all regions is ''China Digital TV Earnings Call.''
Additionally, a live and archived webcast of this conference call will be accessible through the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn/ .
A replay may be accessed by phone at the following number until June 10, 2008:
United States: 1.888.286.8010
International: 1.617.801.6888
Passcode: 20810162
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of conditional access (''CA'') systems to China's rapidly growing digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts its CA-related business through its subsidiary, Beijing Super TV Co., Ltd., and its affiliate, Beijing Novel-Super Digital TV Technology Co., Ltd. and its value-added services business through its subsidiary, Beijing Novel-Super Media Investment Co., Ltd.
For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn/ .
For investor and media inquiries, please contact:
In China:
Eric Yuan
Senior Manager of Investor Relations
Tel: +86-10-6297-1199 x6171
Email: ericyuan@novel-supertv.com
Helen Plummer
Ogilvy Public Relations Worldwide (Beijing)
Tel: +86-10-8520-3090
Email: helen.plummer@ogilvy.com
In the United States:
Jessica Cohen
Ogilvy Public Relations Worldwide (New York)
Tel: +1-646-460-9989
Email: jessica.cohen@ogilvy.com
China Digital TV Holding Co., Ltd.
CONTACT: In China - Eric Yuan, Senior Manager of Investor Relations, +86-10-6297-1199 x6171, or ericyuan@novel-supertv.com; Helen Plummer of Ogilvy Public Relations Worldwide (Beijing), +86-10-8520-3090, or helen.plummer@ogilvy.com; In the United States - Jessica Cohen of Ogilvy Public Relations Worldwide (New York), +1-646-460-9989, or jessica.cohen@ogilvy.com
Web Site: http://ir.chinadtv.cn/
Emmis Interactive Extends Digital Services to Media CompaniesRadio industry leader in interactive revenue now serving other media customers
CHICAGO, April 28 /PRNewswire-FirstCall/ -- Emmis Interactive, the U.S. radio industry's leader in generating interactive revenues, today announced plans to begin marketing its services to radio broadcasters and other local media companies. To that end, Emmis Communications Corporation has announced the formation of Emmis Interactive, Inc., a wholly owned subsidiary of Emmis Operating Company.
Created five years ago and now operating as a stand alone entity, Emmis Interactive has formed partnerships with several broadcast companies and publishers to help them reinvent their brands. Emmis Interactive's ground-breaking technology and approach gives local media a competitive edge in an environment of changing expectations.
Formulated especially for the needs of local media, Emmis Interactive's platform provides high-quality, engaging interactive experiences for advertisers and listeners. In its sixth year of operation, Emmis Radio's interactive revenues already account for nearly five percent of domestic radio revenues and have delivered a compounded annual growth rate of 30 percent over the past three years.
"Emmis Interactive has been a true pioneer and innovator in the interactive space," said Emmis CEO Jeff Smulyan. "I take great pride in what we've built, and we look forward to providing other media companies the benefits of our interactive platform, sales solutions and know-how."
Pittsburgh-based Renda Broadcasting, owner of 25 radio stations in eight medium to small U.S. markets, has a contract with Emmis Interactive to set up their entire interactive operations, including consulting on the organizational setup; designing the web sites and providing the technology to power the sites; and training and developing the entire Renda sales and station management team.
"This is one of the most exciting initiatives to happen at Renda Broadcasting since we first started operations over 25 years ago," said Tony Renda, owner of the privately held Renda Broadcasting. "We chose Emmis Interactive because they understand our needs and have a proven model for success. Emmis Interactive has over-delivered on their commitments to us and is truly acting as a partner in business. They are committed to our success as if they were members of our management team."
"There is a real hunger for the kind of answers Emmis Interactive has found," Smulyan added. "Their expertise could not be more vital to the entire media industry as we all seek to transition our businesses and pursue new revenue streams."
Based in Chicago, Emmis Interactive is led by founders Rey Mena and Deborah Esayian, who have been named co-presidents of the stand-alone operation.
Emmis Interactive has 41 employees, including a full software development team, designers, animators, technology support, an affiliate relations team, interactive sales specialists and an affiliate sales support team.
Emmis Interactive generated considerable attention in June of 2006 when it announced a landmark deal with iTunes, making it the first company in the nation to integrate the iTunes Music Store into its radio station web sites. The integration of the iTunes Music Store reflects the programming of each radio station, allowing listeners to shop from playlists of station artists as well as top picks from on-air talent and celebrity guests.
Emmis Interactive, Inc., an award-winning global software and consulting company, provides local broadcasters and publishers with profitable, sustainable interactive businesses. Combining years of broadcast and publishing experience with cutting-edge technology and unparalleled service, Emmis Interactive empowers local media companies with a comprehensive digital strategy to maximize the value of their media brands. Services include interactive strategy for executive management, interactive sales training, content management consulting, proprietary technology platform and hosting services, custom web-site design and interactive product development.
Emmis Interactive Inc. is an Emmis Communications Company. For more information about Emmis Interactive, visit emmisinteractive.com.
Certain statements included in this report or in the financial statements contained herein which are not statements of historical fact, including but not limited to those identified with the words "expect," "will" or "look" are intended to be, and are, by this Note, identified as "forward-looking statements," as defined in the Securities and Exchange Act of 1934, as amended. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statement. Emmis does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
Emmis Interactive
CONTACT: Chris Campbell, Director of Sales Marketing of Emmis Interactive, +1-312-986-7338, ccampbell@emmisinteractive.com
Web site: http://www.emmis.com/ http://www.emmisinteractive.com/
freenet to Acquire debitel Group
BUDELSDORF and STUTTGART, Germany, April 28 /PRNewswire-FirstCall/ -- freenet AG has today signed an agreement for the acquisition of the debitel Group, mainly consisting of debitel AG, TALKLINE GmbH and _dug telecom ag. The seller is debitel (Netherlands) Holding BV, a holding company controlled by Permira funds. The supervisory board of freenet AG has approved the acquisition.
As consideration for the acquisition of the debitel Group, freenet will issue 32 million new freenet shares (approx. 24.99 % after the capital increase, with a current market value of ca. EUR360 million(*)) and a long-term EUR132.5m interest-bearing loan note to the vendor. On a cash-free basis, the debitel Group will be acquired with financial liabilities in the amount of approx. EUR1,135 million. The consideration payable on a debt free, cash free basis (enterprise value) will be ca. EUR1.63 billion..
The transaction marks a major step in the consolidation of the German telecoms market. freenet AG's takeover of the debitel Group creates Germany's leading network-independent telecoms and Internet company: with a #1 position in mobile services provision (ca. 19 million subscribers at year-end 2007) and the #3 position among all mobile providers in Germany, measured by subscribers. With 1.016 Shops (end of 2007) and leading retail partners such as Electronic Partner, Hertie, Kaufhof, Karstadt and the Media-Saturn Holding, the combined group will also have the strongest distribution channel for telecoms and Internet products in Germany. Together, the two companies grossed over 6 million new customers ("gross adds") in 2007.
"This transaction is a defining moment in the long-discussed consolidation of the German telecoms market," commented freenet CEO Eckhard Spoerr. "freenet has advocated consolidation for a long time and actively explored various options. We are now acting decisively in the best interests of our shareholders, customers and employees to be a driver in this movement." Once the transaction is complete, freenet will possess the necessary corporate size and depth to command a leading position in the German telecoms market. Strengthened by its merger with the debitel Group, freenet will develop its business as a major network-independent, distribution-oriented telecoms player, focused on mobile and Internet, offering businesses and consumers a full and attractive suite of telecoms products. The MSP and portal businesses are core components of this strategy. freenet will also proceed with its already announced review of strategic options for its DSL business.
The debitel Group has operations in both Germany (approx. 93 percent of revenue; 13.2 million customers at 31 Dec 2007) and the Netherlands (approx. 7 percent of revenue, 0.85 million customers at 31 Dec 2007). Approx. 5.8 million of the group's German customers are post-paid or customers of other debitel brands such as the no-frills brand "Callmobile, while approx. 7.4 million are pre-paid." The debitel Group had 641 owned shops at the end of 2007. In 2007, debitel took over _dug telecom ag, one of the largest independent retail chains in the German telecommunications sector. That same year, debitel acquired TALKLINE GmbH, the third largest German service provider. In 2007 Debitel reported revenue of EUR3,369 million and EBITDA of EUR255 million (pro forma, including Netherlands (2)).
"The freenet and debitel Group amalgamation unites Germany's two biggest service providers. The company combining freenet and debitel will position itself at the heart of the mobile value chain. As the biggest independent marketer of mobile services, we will continue to grow and create lasting value - not alone, but in continued close cooperation with our partners," said Oliver Steil, CEO of the debitel Group.
Dr. Jorg Rockenhauser, Managing Partner of Permira Beteiligungsberatung GmbH, said: "The development of the debitel Group is a success story for the company and for the Permira funds. Its growth and combination of service provision and retail have helped the company become one of the major players in the mobile market. The combination of debitel Group with freenet AG follows a clear industry logic - together, debitel and freenet are on eye level with the big mobile operators."
In connection with the transaction, it is planned that freenet's management team be expanded. It is intended that freenet's Supervisory Board appoint Mr. Oliver Steil, currently CEO of debitel Group, as Chief Sales and Customer Marketing Officer, and Mr. Joachim Preisig, currently debitel Group's Chief Financial Officer, as Chief Operations and Integration Officer of freenet AG. Eckhard Spoerr commented: "with the addition of Oliver Steil and Joachim Preisig, the freenet Management Board is once again adding to its effectiveness. We are also setting a signal for continuity in both companies."
Completion of the transaction is subject to anti-trust approval by the German cartel authority (Bundeskartellamt) and establishment of the conditions necessary for listing the new shares. Permira has agreed to a lock-up for 100% of the new shares until the end of the Annual General Meeting 2008 and for 60% of the new shares until the end of the Annual General Meeting 2009, in any event not longer than 31st August 2009.
As a consequence of the transaction, freenet does not intend to pay a dividend in 2008.
freenet's advisors on the transaction were Arma Partners LLP and Deutsche Bank. The seller Permira debitel (Netherlands) Holding BV has been advised by UBS.
*On the basis of freenet's share price of EUR11.27 (based on last 30 days average closing price, as at close of trading on Friday April 25th, 2008)
Selected key figures as at year-end 2007:
freenet AG debitel Group
Mobile phone customers:
Pay monthly customers in
Germany in millions (1) 2.99 5.82
Pay as you go customers in
Germany in millions 2.71 7.39
Total mobile phone
customers in Germany in
millions 5.70 13.21
Mobile phone customers in
the Netherlands in millions 0.00 0.85
Revenues in EUR millions 1,863.3(2) 3,368.6(3)
EBITDA in EUR millions 252.8(2) 255.2(3)
(1) Pay monthly customers in Germany also include Klarmobil customers for freenet as well as callmobile and other customers for debitel (other mobile and other fixed)
(2) freenet Group, according to 2007 annual report, financial data including SAC capitalisation
(3) debitel Group financial data is net of special effects and presented on a pro forma basis (in particular, inclusion of TALKLINE and _dug for the whole year 2007, as well as deduction of foreign subsidiaries which have since been sold)
Contact:
freenet AG
Elke Ruther
Corporate Communications
Phone: +49(0)40-513-06-777
Fax: +49(0)40-513-06-977
Mobile +47-171-7005984
E-mail: pr@freenet.ag
Permira:
Ergo Corporate Communications
Hans Ulrich
Phone +49(0)221-912-887-12
debitel Group
Jorg C. Muller
Corporate Communications
Mobile: +49-173-98-999-88
Phone: +49-711-721-7416
joerg.mueller@de.debitel.com
freenet AG
CONTACT: Contact: freenet AG, Elke Ruther, Corporate Communications, Phone: +49(0)40-513-06-777, Fax: +49(0)40-513-06-977, Mobile +47-171-7005984, E-mail: pr@freenet.ag; Permira: Ergo Corporate Communications, Hans Ulrich, Phone +49(0)221-912-887-12; debitel Group, Jorg C. Muller, Corporate Communications, Mobile: +49-173-98-999-88, Phone: +49-711-721-7416, joerg.mueller@de.debitel.com
Bluephoenix Significantly Expands Modernization Collaboration With Microsoft
HERZLIYA, Israel, April 28 /PRNewswire-FirstCall/ -- BluePhoenix Solutions , the leader in value driven legacy modernization, today announced that it has significantly expanded its collaboration with Microsoft on legacy modernization projects.
The collaboration provides customers moving their applications or databases to .NET-based environments the very best in both modernization services and technical support. BluePhoenix enables organizations to modernize their legacy data stores such as ADABAS, IDMS, IMS and VSAM to SQL Server, and from application languages such as COBOL, Natural, RPG and PowerBuilder to .NET.
"BluePhoenix brings to the table its market leading automated migration tools and services and Microsoft provides deep technical support to enable organizations to benefit from modernizing to the .NET platform," said David Leichner, CMO of BluePhoenix Solutions. "By collaborating with Microsoft we are able to bring even more resources and skills to every customer."
"More and more companies are recognizing the value of modernizing and expanding systems to the .NET Framework," said Brian Goldfarb, group product manager, Developer Division Microsoft Corp. "We are excited to expand our relationship with BluePhoenix. BluePhoenix brings a wealth of technology, experience and success in modernizing legacy applications onto .NET. Working together brings tremendous value to our customers."
About BluePhoenix Solutions
BluePhoenix Solutions is a leading provider of value-driven modernization solutions for legacy information systems. BluePhoenix offerings include a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, re-hosting, and renewal. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.
BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. Among its prestigious customers are: Aflac, CareFirst, Citigroup, Danish Commerce and Companies Agency, Desjardins, Los Angeles County Employees Retirement Association, Merrill Lynch, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS, Toyota and Volvofinans. BluePhoenix has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.
SAFE HARBOR: Certain statements contained in this release may be deemed forward-looking statements, with respect to plans, projections, or future performance of the Company, the occurrence of which involves certain risks and uncertainties that could cause actual plans to differ materially from these statements. These risks and uncertainties include but are not limited to: market demand for the Company's tools, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain additional software personnel, and the ability to develop new business lines. This press release is also available at http://www.bphx.com/. All names and trademarks are their owners' property.
Company Contact
Colleen Pence
BluePhoenix Solutions
+1-210-408-0212, ext. 600
cpence@bphx.com
Investor Contact
Peter Seltzberg
Hayden Communications
+1-646-415-8972
peter@haydenir.com
Financial Media Contact
Jeffrey Stanlis
Hayden Communications
+1-602-476-1821
jeff@haydenir.com
BluePhoenix Solutions Ltd.
CONTACT: Company Contact: Colleen Pence, BluePhoenix Solutions, +1-210-408-0212, ext. 600, cpence@bphx.com; Investor Contact: Peter Seltzberg, Hayden Communications, +1-646-415-8972, peter@haydenir.com; Financial Media Contact: Jeffrey Stanlis, Hayden Communications, +1-602-476-1821, jeff@haydenir.com
freenet to Acquire debitel Group
BUDELSDORF and STUTTGART, Germany, April 28 /PRNewswire/ -- freenet AG has today signed an agreement for the acquisition
of the debitel Group, mainly consisting of debitel AG, TALKLINE GmbH and _dug
telecom ag. The seller is debitel (Netherlands) Holding BV, a holding company
controlled by Permira funds. The supervisory board of freenet AG has approved
the acquisition.
As consideration for the acquisition of the debitel Group,
freenet will issue 32 million new freenet shares (approx. 24.99 % after the
capital increase, with a current market value of ca. EUR360 million(*)) and a
long-term EUR132.5m interest-bearing loan note to the vendor. On a cash-free
basis, the debitel Group will be acquired with financial liabilities in the
amount of approx. EUR1,135 million. The consideration payable on a debt free,
cash free basis (enterprise value) will be ca. EUR1.63 billion..
The transaction marks a major step in the consolidation of the
German telecoms market. freenet AG's takeover of the debitel Group creates
Germany's leading network-independent telecoms and Internet company: with a
#1 position in mobile services provision (ca. 19 million subscribers at
year-end 2007) and the #3 position among all mobile providers in Germany,
measured by subscribers. With 1.016 Shops (end of 2007) and leading retail
partners such as Electronic Partner, Hertie, Kaufhof, Karstadt and the
Media-Saturn Holding, the combined group will also have the strongest
distribution channel for telecoms and Internet products in Germany. Together,
the two companies grossed over 6 million new customers ("gross adds") in
2007.
"This transaction is a defining moment in the long-discussed
consolidation of the German telecoms market," commented freenet CEO Eckhard
Spoerr. "freenet has advocated consolidation for a long time and actively
explored various options. We are now acting decisively in the best interests
of our shareholders, customers and employees to be a driver in this
movement." Once the transaction is complete, freenet will possess the
necessary corporate size and depth to command a leading position in the
German telecoms market. Strengthened by its merger with the debitel Group,
freenet will develop its business as a major network-independent,
distribution-oriented telecoms player, focused on mobile and Internet,
offering businesses and consumers a full and attractive suite of telecoms
products. The MSP and portal businesses are core components of this strategy.
freenet will also proceed with its already announced review of strategic
options for its DSL business.
The debitel Group has operations in both Germany (approx. 93
percent of revenue; 13.2 million customers at 31 Dec 2007) and the
Netherlands (approx. 7 percent of revenue, 0.85 million customers at 31 Dec
2007). Approx. 5.8 million of the group's German customers are post-paid or
customers of other debitel brands such as the no-frills brand "Callmobile,
while approx. 7.4 million are pre-paid." The debitel Group had 641 owned
shops at the end of 2007. In 2007, debitel took over _dug telecom ag, one of
the largest independent retail chains in the German telecommunications
sector. That same year, debitel acquired TALKLINE GmbH, the third largest
German service provider. In 2007 Debitel reported revenue of EUR3,369 million
and EBITDA of EUR255 million (pro forma, including Netherlands (2)).
"The freenet and debitel Group amalgamation unites Germany's
two biggest service providers. The company combining freenet and debitel will
position itself at the heart of the mobile value chain. As the biggest
independent marketer of mobile services, we will continue to grow and create
lasting value - not alone, but in continued close cooperation with our
partners," said Oliver Steil, CEO of the debitel Group.
Dr. Jorg Rockenhauser, Managing Partner of Permira
Beteiligungsberatung GmbH, said: "The development of the debitel Group is a
success story for the company and for the Permira funds. Its growth and
combination of service provision and retail have helped the company become
one of the major players in the mobile market. The combination of debitel
Group with freenet AG follows a clear industry logic - together, debitel and
freenet are on eye level with the big mobile operators."
In connection with the transaction, it is planned that
freenet's management team be expanded. It is intended that freenet's
Supervisory Board appoint Mr. Oliver Steil, currently CEO of debitel Group,
as Chief Sales and Customer Marketing Officer, and Mr. Joachim Preisig,
currently debitel Group's Chief Financial Officer, as Chief Operations and
Integration Officer of freenet AG. Eckhard Spoerr commented: "with the
addition of Oliver Steil and Joachim Preisig, the freenet Management Board is
once again adding to its effectiveness. We are also setting a signal for
continuity in both companies."
Completion of the transaction is subject to anti-trust
approval by the German cartel authority (Bundeskartellamt) and establishment
of the conditions necessary for listing the new shares. Permira has agreed to
a lock-up for 100% of the new shares until the end of the Annual General
Meeting 2008 and for 60% of the new shares until the end of the Annual
General Meeting 2009, in any event not longer than 31st August 2009.
As a consequence of the transaction, freenet does not intend
to pay a dividend in 2008.
freenet's advisors on the transaction were Arma Partners LLP
and Deutsche Bank. The seller Permira debitel (Netherlands) Holding BV has
been advised by UBS.
*On the basis of freenet's share price of EUR11.27 (based on
last 30 days average closing price, as at close of trading on Friday April
25th, 2008)
Selected key figures as at year-end 2007:
freenet AG debitel Group
Mobile phone customers:
Pay monthly customers in
Germany in millions (1) 2.99 5.82
Pay as you go customers in
Germany in millions 2.71 7.39
Total mobile phone
customers in Germany in
millions 5.70 13.21
Mobile phone customers in
the Netherlands in millions 0.00 0.85
Revenues in EUR millions 1,863.3(2) 3,368.6(3)
EBITDA in EUR millions 252.8(2) 255.2(3)
(1) Pay monthly customers in Germany also include Klarmobil customers for
freenet as well as callmobile and other customers for debitel (other mobile
and other fixed)
(2) freenet Group, according to 2007 annual report, financial data
including SAC capitalisation
(3) debitel Group financial data is net of special effects and
presented on a pro forma basis (in particular, inclusion of TALKLINE and _dug
for the whole year 2007, as well as deduction of foreign subsidiaries which
have since been sold)
Contact:
freenet AG
Elke Ruther
Corporate Communications
Phone: +49(0)40-513-06-777
Fax: +49(0)40-513-06-977
Mobile +47-171-7005984
E-mail: pr@freenet.ag
Permira:
Ergo Corporate Communications
Hans Ulrich
Phone +49(0)221-912-887-12
debitel Group
Jorg C. Muller
Corporate Communications
Mobile: +49-173-98-999-88
Phone: +49-711-721-7416
joerg.mueller@de.debitel.com
freenet AG
Contact: freenet AG, Elke Ruther, Corporate Communications, Phone: +49(0)40-513-06-777, Fax: +49(0)40-513-06-977, Mobile +47-171-7005984, E-mail: pr@freenet.ag; Permira: Ergo Corporate Communications, Hans Ulrich, Phone +49(0)221-912-887-12; debitel Group, Jorg C. Muller, Corporate Communications, Mobile: +49-173-98-999-88, Phone: +49-711-721-7416, joerg.mueller@de.debitel.com
Emmis Interactive Extends Digital Services to Media Companies
CHICAGO, April 28 /PRNewswire/ --
- Radio industry leader in interactive revenue now serving other
media customers
Emmis Interactive, the U.S. radio industry's leader in generating
interactive revenues, today announced plans to begin marketing its services
to radio broadcasters and other local media companies. To that end, Emmis
Communications Corporation (Nasdaq: EMMS) has announced the formation of
Emmis Interactive, Inc., a wholly owned subsidiary of Emmis Operating
Company.
Created five years ago and now operating as a stand alone entity, Emmis
Interactive has formed partnerships with several broadcast companies and
publishers to help them reinvent their brands. Emmis Interactive's
ground-breaking technology and approach gives local media a competitive edge
in an environment of changing expectations.
Formulated especially for the needs of local media, Emmis Interactive's
platform provides high-quality, engaging interactive experiences for
advertisers and listeners. In its sixth year of operation, Emmis Radio's
interactive revenues already account for nearly five percent of domestic
radio revenues and have delivered a compounded annual growth rate of 30
percent over the past three years.
"Emmis Interactive has been a true pioneer and innovator in the
interactive space," said Emmis CEO Jeff Smulyan. "I take great pride in what
we've built, and we look forward to providing other media companies the
benefits of our interactive platform, sales solutions and know-how."
Pittsburgh-based Renda Broadcasting, owner of 25 radio stations in eight
medium to small U.S. markets, has a contract with Emmis Interactive to set up
their entire interactive operations, including consulting on the
organizational setup; designing the web sites and providing the technology to
power the sites; and training and developing the entire Renda sales and
station management team.
"This is one of the most exciting initiatives to happen at Renda
Broadcasting since we first started operations over 25 years ago," said Tony
Renda, owner of the privately held Renda Broadcasting. "We chose Emmis
Interactive because they understand our needs and have a proven model for
success. Emmis Interactive has over-delivered on their commitments to us and
is truly acting as a partner in business. They are committed to our success
as if they were members of our management team."
"There is a real hunger for the kind of answers Emmis Interactive has
found," Smulyan added. "Their expertise could not be more vital to the entire
media industry as we all seek to transition our businesses and pursue new
revenue streams."
Based in Chicago, Emmis Interactive is led by founders Rey Mena and
Deborah Esayian, who have been named co-presidents of the stand-alone
operation.
Emmis Interactive has 41 employees, including a full software development
team, designers, animators, technology support, an affiliate relations team,
interactive sales specialists and an affiliate sales support team.
Emmis Interactive generated considerable attention in June of 2006 when
it announced a landmark deal with iTunes, making it the first company in the
nation to integrate the iTunes Music Store into its radio station web sites.
The integration of the iTunes Music Store reflects the programming of each
radio station, allowing listeners to shop from playlists of station artists
as well as top picks from on-air talent and celebrity guests.
Emmis Interactive, Inc., an award-winning global software and consulting
company, provides local broadcasters and publishers with profitable,
sustainable interactive businesses. Combining years of broadcast and
publishing experience with cutting-edge technology and unparalleled service,
Emmis Interactive empowers local media companies with a comprehensive digital
strategy to maximize the value of their media brands. Services include
interactive strategy for executive management, interactive sales training,
content management consulting, proprietary technology platform and hosting
services, custom web-site design and interactive product development.
Emmis Interactive Inc. is an Emmis Communications Company. For more
information about Emmis Interactive, visit emmisinteractive.com.
Certain statements included in this report or in the financial statements
contained herein which are not statements of historical fact, including but
not limited to those identified with the words "expect," "will" or "look" are
intended to be, and are, by this Note, identified as "forward-looking
statements," as defined in the Securities and Exchange Act of 1934, as
amended. Such statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements
of the Company to be materially different from any future result, performance
or achievement expressed or implied by such forward-looking statement. Emmis
does not undertake any obligation to publicly update or revise any
forward-looking statements because of new information, future events or
otherwise.
Web site: http://www.emmis.com
http://www.emmisinteractive.com
Emmis Interactive
Chris Campbell, Director of Sales Marketing of Emmis Interactive, +1-312-986-7338, ccampbell@emmisinteractive.com
MTN Nigeria to Improve Performance With Motorola Optimization Services ContractThree-year agreement expected to reduce network operating costs and increase competitiveness
LAGOS, Nigeria, April 28 /PRNewswire-FirstCall/ -- Motorola, Inc. today announced a three-year network optimization service contract with MTN Nigeria, to improve the performance of the operator's multi-vendor network across its serving area.
The multi-million dollar contract is the first between the two companies, and covers the ongoing enhancement of the African operator's cellular network. It will enable MTN Nigeria to continue to deliver high quality service to its growing number of subscribers and satisfy their increasing demands for new value-added services.
Motorola's optimization services utilize market-leading analytical tools and actual end-user subscriber data, providing an innovative and proven alternative to traditional optimization methods. The services help to improve performance in a single or multi-vendor environment, while ensuring that the network operates at peak performance.
"With the competitive telecommunications landscape in Nigeria, those operators which deliver the best customer experience most consistently will flourish. MTN is demonstrating its commitment to quality by selecting Motorola's proven network optimization solution to ensure that our infrastructure remains current to meet evolving business and customer demand. We trust that Motorola's innovative technology and experienced resources and its clear operational processes will enable us to continue providing high quality services to our subscribers cost-effectively while staying current with global telecoms technology," said Olasoji Obanewa, senior manager, RF planning & optimization, MTN Nigeria.
By using innovative and market leading processes and tools to address such tasks as frequency planning, hardware optimization, traffic and layer management, coverage design and capacity planning, optimization services enable service providers to offer enhanced quality and improved performance to their customers. Motorola's optimization services, delivered through best-in- class professionals, allow service provides to maximizing their return on investment and dedicate themselves to their core business objectives.
"Motorola is delighted to be working with MTN Nigeria and deliver its network optimization services to enable the African operator to continue delivering quality services to its customers. This contract is an endorsement of the proven value which Motorola's optimization services can bring to a network operator both in the reduction in operating costs, and in the continuity and availability of resources," said Eric Pradier, vice president services, Motorola Home & Networks Mobility EMEA.
For more information on Motorola's network optimization services please visit: http://www.motorola.com/services
About Motorola
Motorola is known around the world for innovation in communications. The company develops technologies, products and services that make mobile experiences possible. Our portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Motorola is committed to delivering next generation communication solutions to people, businesses and governments. A Fortune 100 company with global presence and impact, Motorola had sales of US $36.6 billion in 2007. For more information about our company, our people and our innovations, please visit http://www.motorola.com/
MOTOROLA and the stylized M Logo are registered in the US Patent & Trademark Office. All other product or service names are the property of their respective owners. (C) Motorola, Inc. 2008. All rights reserved.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020307/MOTLOGO http://www.newscom.com/cgi-bin/prnh/20020415/MOTNOTAGLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Motorola
CONTACT: Media, Gemma Priscott of Motorola Home & Networks Mobility +44 7970 882994, gemma.priscott@motorola.com
Web site: http://www.motorola.com/
Premier Farnell Announces the Appointment of Andy King as President of Farnell Europe and Global Head of the Electronic Design Engineering (EDE) Segment
LONDON, April 28 /PRNewswire/ -- Andy's industry knowledge, customer experience and proven
leadership make him ideally suited to drive Premier Farnell's strategy for
profitable growth through focusing on the global high service EDE segment
whilst leveraging Premier Farnell's regional multi-channel capabilities.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080428/302310 )
Premier Farnell plc (LSE:pfl), the leading multi-channel, high service
distributor supporting millions of engineers and purchasing professionals
globally, has announced the appointment of Andy King as President of
Farnell Europe and Global Head of EDE, with effect from 16th June 2008.
Most recently Andy was European Vice President of Sales Development at
Arrow Electronics, providing strategic direction to the company's European
sales drive, in particular addressing the various needs of different customer
segments across EMEA. Andy's previous experience includes STC, Farnell and
Arrow. He is an economics graduate with a proven track record for delivering
results in both high service and volume distribution businesses. His broad
industry experience in Asset Management, Product and Supplier Marketing, and
more recently as Sales Director and Managing Director are perfect for
Farnell.
"In line with our strategy to increase our focus on the global electronic
design engineering segment, drive higher levels of business via the web and
continue to internationalise our models into new and emerging markets for
electronics, Andy is an excellent addition to the team to drive our strategy
and deliver the results we need from Farnell," said Laurence Bain, COO of
Premier Farnell. "We are truly excited about his appointment and on behalf of
our employees, suppliers and customers worldwide we give him a warm welcome."
About Premier Farnell
Premier Farnell plc (LSE:pfl) is a leading high service, multi-channel
distributor of electronic, maintenance, repair and operation products and
specialist services throughout Europe, the Americas and Asia Pacific. It goes
to market with a differentiated value proposition, world-class marketing, a
stocked range of 400,000+ products, and access to 4,000,000 more items from
3,000 top manufacturers. The company has group sales of GBP823.1m and 4,100
employees globally.
While global in scope, Premier Farnell recognizes the individual needs of
each market and has continued to internationalize its model accordingly,
trading locally under different brand names. Its primary electronics
businesses trade as Farnell in the UK, Europe, Australia and New Zealand,
Newark in the US, Canada and Mexico, and Premier Electronics in China. In
Singapore, Malaysia, Hong Kong and Brazil the operation is known as Farnell
Newark. For more information visit the website at
http://www.premierfarnell.com
Contact details for publication and editorial enquiries:
Jenny Peters
Head of Corporate Communications
Premier Farnell plc
25-28 Old Burlington Street, London, W1S 3AN
Tel: +44(0)207-851-4102
Mobile:+44(0)792-174-0548
Email: jpeters@premierfarnell.com
Web: http://www.premierfarnell.com
Issued by:
Jonathan Roberts
Account Director
Pinnacle Marketing Communications Ltd,
Prosperity House
Dawlish Drive, Pinner, Middlesex, HA5 5LN, UK
Tel: +44(0)208-869-9339
Email: jonathan@pinnaclemarcom.com
Web: http://www.pinnacle-marketing.com
Premier Farnell plc
Contact details for publication and editorial enquiries: Jenny Peters, Head of Corporate Communications, Premier Farnell plc, 25-28 Old Burlington Street, London, W1S 3AN, Tel: +44(0)207-851-4102, Mobile:+44(0)792-174-0548, Email: jpeters@premierfarnell.com, Web: http://www.premierfarnell.com; Issued by:, Jonathan Roberts, Account Director, Pinnacle Marketing Communications Ltd,, Prosperity House, Dawlish Drive, Pinner, Middlesex, HA5 5LN, UK, Tel: +44(0)208-869-9339, Email: jonathan@pinnaclemarcom.com, Web: http://www.pinnacle-marketing.com
Premier Farnell annonce la nomination d'Andy King comme président de Farnell Europe et directeur mondial du secteur Ingénierie en conception électronique
LONDRES, April 28 /PRNewswire/ -- Les connaissances d'Andy King sur l'industrie, son expérience du service
à la clientèle et son leadership éprouvé font de lui le candidat idéal pour
exécuter la stratégie de croissance rentable de Premier Farnell axée sur le
secteur mondial Ingénierie en conception électronique (EDE, de l'anglais
Electronic Design Engineering) tout en mettant à profit les capacités de
distribution multi-canaux régionales de Premier Farnell.
(Photo : http://www.newscom.com/cgi-bin/prnh/20080428/302310)
Premier Farnell plc (LSE : pfl), le plus important distributeur
multi-canaux de niveau supérieur appuyant des millions d'ingénieurs et
achetant auprès de professionnels du monde entier, a annoncé la nomination
d'Andy King à titre de président de Farnell Europe et de directeur mondial du
secteur EDE, postes qu'il occupera à partir du 16 juin 2008.
Avant de se joindre à Farnell Europe, Andy King était le vice-président
européen du service des ventes chez Arrow Electronics, où il assurait la
direction stratégique des ventes européennes de la société, essentiellement
en répondant aux divers besoins des différents secteurs d'activités dans
l'EMEA. Parmi l'expérience de travail d'Andy King, on compte des postes chez
STC, Farnell et Arrow. Il détient un diplôme en économie et d'excellents
antécédents où il a enregistré de solides résultats dans les secteurs du
service à haut niveau ainsi que de la distribution de masse. Ses expériences
de travail variées au sein de l'industrie, notamment dans les domaines de la
gestion d'actifs, du marketing de produits et de fournisseurs, et plus
récemment en tant que directeur des ventes et directeur général, sont idéales
pour Farnell.
<< En accord avec notre stratégie consistant à nous concentrer davantage
sur le secteur mondial de l'ingénierie de conception électronique, à stimuler
des niveaux d'activités supérieurs par le biais d'Internet, et à continuer à
internationaliser nos modèles dans les marchés nouveaux et émergents de
l'électronique, Andy représente un excellent ajout à l'équipe qui nous
permettra de promouvoir notre stratégie et d'atteindre les résultats dont
nous avons besoin de la part de Farnell >>, a affirmé Laurence Bain,
directeur de l'exploitation de Premier Farnell. << Nous sommes véritablement
enthousiasmés face à cette nomination et, au nom de nos employés,
fournisseurs et clients du monde entier, nous lui souhaitons la plus cordiale
des bienvenues. >>
À propos de Premier Farnell
Premier Farnell plc (LSE : PFL) est un distributeur multi-canaux de
premier plan de produits électroniques, d'entretien, de réparation et
d'exploitation ainsi que de services spécialisés partout en Europe, dans les
Amériques et dans la région de l'Asie-Pacifique. Elle est présente en bourse
avec une proposition de valeur différentiée, du marketing de classe mondiale,
des stocks de plus de 400 000 produits, et un accès à 4 000 000 d'autres
produits de 3 000 fabricants de renom. La société a un chiffre de ventes de
823,1 millions GBP et compte 4 100 employés à l'échelle internationale.
Bien qu'elle ait une présence mondiale, Premier Farnell reconnaît les
besoins individuels de chaque marché et continue d'internationaliser son
modèle en conséquence, soit en négociant à l'échelle locale sous différents
noms de marque. Ses divisions électroniques principales négocient sous
Farnell au Royaume-Uni, en Europe, en Australie et en Nouvelle-Zélande,
Newark aux États-Unis, au Canada et au Mexique, ainsi que Premier Electronics
en Chine. À Singapour, en Malaisie, à Hong Kong et au Brésil, la société est
connue sous le nom de Farnell Newark. Pour de plus amples renseignements,
visitez le site Web de la société au http://www.premierfarnell.com
Contacts à des fins de publication et de révision :
Jenny Peters
Directrice des communications d'entreprise
Premier Farnell plc
25-28 Old Burlington Street, Londres, W1S 3AN
Tél. : +44(0)207-851-4102
Portable : +44(0)792-174-0548
Courrier électronique : jpeters@premierfarnell.com
Site Web : http://www.premierfarnell.com
Émis par :
Jonathan Roberts
Directeur de comptes
Pinnacle Marketing Communications Ltd,
Prosperity House
Dawlish Drive, Pinner, Middlesex, HA5 5LN, Royaume-Uni
Tél. : +44(0)208-869-9339
Courrier électronique : jonathan@pinnaclemarcom.com
Site Web : http://www.pinnacle-marketing.com
Premier Farnell plc
Contacts à des fins de publication et de révision : Jenny Peters, directrice des communications d'entreprise, Premier Farnell plc, 25-28 Old Burlington Street, Londres, W1S 3AN, Tél. : +44(0)207-851-4102, Portable : +44(0)792-174-0548, Courrier électronique : jpeters@premierfarnell.com, Site Web : http://www.premierfarnell.com; Émis par : Jonathan Roberts, directeur de comptes, Pinnacle Marketing Communications Ltd,, Prosperity House, Dawlish Drive, Pinner, Middlesex, HA5 5LN, Royaume-Uni, Tél. : +44(0)208-869-9339, Courrier électronique : jonathan@pinnaclemarcom.com, Site Web : http://www.pinnacle-marketing.com
March Networks and Sun Microsystems Deliver Integrated IP Video Surveillance Solutions to Enterprise Organizations
OTTAWA, April 28 /PRNewswire-FirstCall/ -- March Networks(TM) (TSX:MN; AIM:MNW), a leading provider of intelligent IP video and business analysis applications, announced today that it will collaborate with Sun Microsystems, Inc. to jointly market scalable, end-to-end IP video surveillance solutions to enterprise organizations across North America.
The solutions combine intelligent video management software and systems from the March Networks VideoSphere(TM) portfolio with purpose-built Sun Fire(TM) x64 servers. They enable organizations to deploy advanced surveillance applications, such as video analytics, and intelligently manage the convergence of IP video technologies with high performance IT infrastructure.
Organizations in a wide range of markets are seeking to take advantage of next-generation surveillance technologies optimized to run over IP networks. They are looking for integrated solutions that combine best-in-class software and hardware products with common management software and a flexible architecture that can scale to support the most demanding requirements.
March Networks' VideoSphere Intelligent Video Management portfolio enables customers to deploy all-IP video solutions or hybrid video networks that include both analog and IP cameras and leverage existing cabling infrastructure. In either environment, organizations can install Sun Fire(TM) X4500 and X4150 servers for high density video recording and storage.
The Sun Fire X4500 and X4150 servers are among the fastest and most reliable servers available, and their energy-efficient designs save on power and cooling. Both run on nearly any operating system, including Solaris 10(TM) Operating System, Linux, and Windows. The Sun Fire x64 servers, which work with Sun StorageTek(TM) solutions to deliver up to 48 Terabytes of storage capacity, interoperate with VideoSphere Video Management System software to ensure the cost-effective retention of high resolution video from any number of cameras for extended periods of time.
March Networks and Sun Microsystems will demonstrate the VideoSphere Intelligent Video Management solution in Booth 2301 at Interop Las Vegas, April 27 - May 2, at the Mandalay Bay Convention Center.
"March Networks' video management expertise is well recognized in the surveillance industry," said Joe Heel, Senior Vice President, Global Storage Practice, Sun Microsystems, Inc. "By combining these capabilities with storage systems that deliver the highest storage density available, Sun is leading the industry in enabling customers to easily manage demanding, high-bandwidth applications, reduce system complexity and optimize data storage."
"March Networks is focused on providing organizations with premium solutions that drive efficiency and return on investments regardless of their position on the IP adoption curve," said Peter Strom, President and CEO, March Networks. "Partnering with Sun - one of the IT industry's leading server storage providers - creates an excellent offering for organizations that require comprehensive and intelligent video management."
About March Networks
March Networks(TM) (TSX:MN; AIM:MNW) is a leading provider of intelligent IP video and business analysis applications that enable organizations to reduce losses, mitigate risks and improve security and operational efficiency. The Company's advanced software suite includes enterprise-class video management, powerful analytics and comprehensive managed and professional services. Our software and systems are used by leading financial institutions, retailers, transportation authorities and other organizations in more than 50 countries. For more information, please visit http://www.marchnetworks.com/.
About Sun Microsystems
Sun Microsystems develops the technologies that power the global marketplace. Guided by a singular vision - "The Network is the Computer" - Sun drives network participation through shared innovation, community development and open source leadership. Sun can be found in more than 100 countries and on the Web at http://sun.com/.
Forward-Looking Statements
This release contains certain forward-looking information, including expectations of future business. This information is based on the company's current expectations and assumptions that are subject to a variety of risks and uncertainties that are difficult to predict and that may be beyond March Networks' control. Actual results could differ materially from those expressed in any forward-looking statements due to factors such as customer demand and timing of purchasing decisions, increased levels of competition, technological changes and the successful development of new products, dependence on third-party manufacturers, risks relating to intellectual property infringement claims, and other risks and factors identified in March Networks' public filings with regulatory authorities in Canada. March Networks assumes no obligation to update these forward-looking statements as a result of new information or future events.
(x) MARCH NETWORKS, VideoSphere and the MARCH NETWORKS and VideoSphere logos are trademarks of March Networks Corporation. Sun, Sun Microsystems, the Sun logo, Solaris, Sun Fire, Solaris and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.
MARCH NETWORKS CORPORATION
CONTACT: Peter Wilenius, March Networks Corporation, (613) 591-8181, pwilenius@marchnetworks.com; Geoffrey Morgan, Maverick for Sun Microsystems of Canada, Sun Microsystems, (416) 640-5525, x228, geoffreym@maverickpr.com
New Versions of ILOG Graphics Products Target Rich Internet Application Development on .NET PlatformILOG Diagrammer for .NET Supports Windows Presentation Foundation, ILOG Gantt for .NET Supports ASP.NET AJAX
PARIS and SUNNYVALE, Calif., April 28 /PRNewswire-FirstCall/ -- ILOG(R) today announced that its latest graphics toolkits for the .NET platform are aimed at helping Microsoft developers create rich internet applications (RIA), specifically interactive and visually-rich diagrams and Gantt charts. ILOG Diagrammer for .NET(R) 1.5 and ILOG Gantt for .NET 3.5, ILOG's graphics toolkits for creating diagrams and Gantt charts for the .NET platform, now support Windows Presentation Foundation (WPF) and ASP.NET AJAX for RIA development. Developers are also expected to benefit from support for Microsoft Visual Studio 2008(R), which will ensure increased productivity. Developers do not have to leave their familiar development environment to generate code and can access the dedicated designers, toolboxes and wizards, and the on-line documentation in the new product without having to learn another tool or language.
ILOG Diagrammer for .NET 1.5 helps developers quickly and easily configure and integrate sophisticated diagram and dashboard displays inside their Windows Forms (desktop) and Web Forms applications. This new release includes out-of-the-box WPF elements that ease the creation of graphical representations, such as entity-relation diagrams, network topologies or business processes. With support for WPF, it now is possible to create appealing graphics using both the template features of WPF and the product's Graph Layout library. ILOG Diagrammer for .NET 1.5 will enable developers to leverage the benefits of WPF using Microsoft Visual Studio, Expression Design, Expression Blend, XAML, videos, animations, and other WPF tools.
ILOG Gantt for .NET 3.5, with support for ASP.NET Ajax technology, allows developers to further ease the creation of RIAs through integrated ASP.NET AJAX controls for planning and scheduling, enabling a more engaging collaboration between the various stakeholders of complex projects for building, managing, and correcting such projects. Browser-based project editing and visualizing represent a core constituent of collaborative project management and project portfolio management solutions.
Diagrammer for .NET already supported that technology which brought a list of controls to visualize and edit diagrams in RIAs and Web applications, and to manage smooth refresh when zooming, panning or interacting with the user interface.
ILOG Diagrammer for .NET 1.5 and ILOG Gantt for .NET 3.5 are available immediately. For more information, please visit http://www.ilog.com/products/diagrammernet and http://www.ilog.com/products/ganttnet.
Through its Flex, Java(TM), .NET and C++ graphics libraries and components, ILOG provides the industry's most comprehensive set of graphics tools for creating sophisticated, interactive user displays. ILOG's graphics products enhance decision-making speed and ability by making vast quantities of complex data more comprehensible and manageable for users. With each of ILOG's visualization products, developers can save 50 to 80 percent of development time in creating displays. For more information on these products, please visit http://www.ilog.com/products/visualization.
ILOG is a member of the OpenAjax Alliance(TM) and participates in several standards initiatives in the graphics world.
About ILOG
ILOG delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 3,000 corporations and more than 465 leading software vendors rely on ILOG's market-leading business rule management system (BRMS), supply chain planning and scheduling applications, and optimization and visualization software components, to achieve dramatic returns on investment, create market-defining products and services, and sharpen their competitive edge. ILOG was founded in 1987 and employs more than 860 people worldwide. For more information, please visit http://www.ilog.com/.
ILOG, ILOG Diagrammer for .NET and ILOG Gantt for .NET are registered trademarks of ILOG S.A. and ILOG Inc. All other trademarks are the properties of their respective owners.
ILOG
CONTACT: Monika Raj of ILOG, +1-408-991-7128, mraj@ilog.com
Web site: http://www.ilog.com/
Sohu.com Reports First Quarter Unaudited Financial Results
First Quarter 2008 Total Revenues Reach US$84.8 Million, Exceeding High End of
Company Guidance by US$16.3 Million, Up 156% Year-on-Year and 30%
Quarter-on-Quarter;
First Quarter 2008 Non-GAAP Fully Diluted EPS of US$0.64, Exceeding High End
of Company Guidance by 19 US Cents
BEIJING, April 28 /Xinhua-PRNewswire/ -- Sohu.com Inc. , China's leading online media, communications, search, online games and mobile value-added services company, today reported unaudited financial results for the first quarter ended March 31, 2008.
First Quarter Highlights
-- Record high total revenues and record high for each revenue category:
brand advertising, advertising, online game, and non-advertising
revenues as well as net income. All such operating parameters exceed
company guidance.
-- Brand advertising revenues of US$33.2 million, up 41% year-on-year and
3% quarter-on-quarter.
-- Advertising revenues of US$34.8 million, up 36% year-on-year and 3%
quarter-on-quarter.
-- Online game revenues of US$41.0 million, up 24 times year-on-year and
71% quarter-on-quarter. In-house developed massive multiplayer online
role-playing game Tian Long Ba Bu ("TLBB") further solidified its
success with revenue up 77% quarter-on-quarter to US$38.9 million.
-- Non-advertising revenues of US$50.1 million, up 570% year-on-year and
58% quarter-on-quarter.
-- Total revenues of US$84.8 million, up 156% year-on-year and 30%
quarter-on-quarter, exceeding the high end of company guidance by
US$16.3 million.
-- Non-GAAP net income (i.e. excluding share-based compensation expenses)
of US$25.1 million or US$0.64 per fully diluted share, exceeding the
high end of guidance by 19 US cents. Non-GAAP net income increased by
261% year-on-year and 48% quarter-on-quarter.
-- GAAP net income of US$21.6 million or US$0.55 per fully diluted share.
GAAP net income increased by 383% year-on-year and 43%
quarter-on-quarter.
-- Explanation of the Company's non-GAAP financial measures and the
related reconciliations to GAAP financial measures are included in the
accompanying "Non-GAAP Disclosure" and the "Reconciliations to
Unaudited Condensed Consolidated Statements of Operations."
Dr. Charles Zhang, Chairman and CEO of Sohu.com, stated, "We are very pleased with our first quarter of 2008, which was our third consecutive quarter in which we reported record total revenues and record revenues in each category, as well as record non-GAAP net income. We believe that these results are made possible only by our long-term strategic vision regarding the Chinese Internet space, such as our sponsorship of the 2008 Beijing Olympics, and by our continued technological development and advancement, such as with our in-house developed online game Tian Long Ba Bu. All of these achievements demonstrate the strength and power of the Sohu brand and our ability to continue to execute on our plan to lead the Chinese Internet space."
Ms. Belinda Wang, Co-President and Chief Marketing Officer of Sohu.com, said, "Despite a generally weak season in the industry for the first quarter of the year, we were able to achieve yet another record in terms of brand advertising revenues. We can squarely attribute these results to the continued shifting of advertising from offline to online and the robust momentum in advertisers' spending as the 2008 Beijing Olympic Games quickly draw near. And looking ahead at the remainder of 2008, we believe the growth of our brand advertising business will be even stronger, primarily driven by the increasing Olympic-related advertising spending and our growing penetration in the overall market."
Dr. Gong Yu, Chief Operating Officer of Sohu.com, added, "The impact and the reach of our online reporting abilities across China are well-respected by the industry, and have further positioned Sohu as one of the most authoritative and powerful online media sources in China. We have worked continuously to provide premier content and innovative products to our users."
First Quarter Financial Results
Total revenues for the first quarter ended March 31, 2008 were US$84.8 million, compared to revenues of US$65.3 million for the fourth quarter ended December 31, 2007, and US$33.1 million for the first quarter ended March 31, 2007.
Gross margin for the first quarter of 2008 was 76%, increased from 71% in the previous quarter and 60% in the same period of 2007. Non-GAAP gross margin was 76% in the first quarter of 2008, up from 72% in the previous quarter and 61% in the same period of 2007. The gross margin expansion was primarily due to the contribution from TLBB.
Net income for the first quarter of 2008 was US$21.6 million or US$0.55 per fully diluted share. Non-GAAP net income for first quarter of 2008 was US$25.1 million or US$0.64 per fully diluted share. This compares to non-GAAP net income of US$17.0 million or US$0.43 per fully diluted share for the fourth quarter of 2007 and US$7.0 million or US$0.18 per fully diluted share for the first quarter of 2007.
Advertising revenues for the first quarter of 2008 totaled US$34.8 million, a 3% quarter-on-quarter increase and a 36% year-on-year increase. Advertising revenues, consisting of US$33.2 million in brand advertising and US$1.6 million in sponsored search, accounted for 41% of total revenues in the first quarter of 2008. Brand advertising revenues for the first quarter of 2008 increased 3% quarter-on-quarter and 41% year-on-year. Sponsored search revenues for the first quarter of 2008 were up 5% quarter-on-quarter and down 23% year-on-year. Advertising gross margin for the first quarter of 2008 was 63%, flat with the previous quarter and up from 62% in the first quarter of 2007. Non-GAAP advertising gross margin for the first quarter of 2008 was 64%, flat with the previous quarter and the first quarter of 2007.
For the first quarter of 2008, Sohu's non-advertising revenues, which are derived mainly from online game and wireless value-added services, were US$50.1 million, representing 59% of total revenues. Online game revenues for first quarter of 2008 increased 71% quarter-on-quarter and 24 times year-on-year. Wireless revenue increased 17% quarter-on-quarter and 54% year-on-year. Non-advertising gross margin was 85%, compared to 79% in the previous quarter and 52% in first quarter of 2007. Non-GAAP non-advertising gross margin was 85%, compared to 79% in the previous quarter and 52% in first quarter of 2007. Those increases were due to the contribution from TLBB.
For first quarter of 2008, Sohu's operating expenses totaled US$34.0 million. Non-GAAP operating expenses totaled US$30.8 million, up 3% from the previous quarter and up 125% year-on-year. The year-on-year increase was primarily due to continued investment in product development, marketing expenses for Sohu branding and TLBB, as well as an increase in bonuses to reward employees for their contribution to good results.
For first quarter of 2008, income tax expense was US$ 9.2 million, compared to US$0.7 million for the previous quarter and US$0.3 million for the same period last year.
On January 1, 2008, the newly introduced Corporate Income Tax Laws, which unify the statutory income tax rate of enterprises in China to 25%, became effective. On April 14, 2008, relevant governmental regulatory authorities released qualification criteria, application procedures and assessment processes for "New Technology Enterprises," which will be entitled to a favorable statutory tax rate of 15%. Solicitation of actual applications has not yet commenced, however. In addition, there are still divergent views on whether there will be any preconditions for allowing grandfather treatment for the unexpired tax holidays of New Technology Enterprises previously qualified under the old tax laws as of December 31, 2007. Due to uncertainties on (a) whether any of Sohu's major operating entities in China will eventually be approved for New Technology Enterprise status and (b) whether theses entities will be able to enjoy grandfather treatment for their unexpired tax holidays unconditionally, for the first quarter of 2008, Sohu has accounted for its income tax based on the statutory tax rate of 25%, assuming that it would not enjoy any of the preferential tax treatment mentioned above. Sohu will account for lower tax charges in future quarters if and when confirmation is received from the Chinese tax authorities that any of these operating entities is entitled to be taxed at preferential rates.
Ms. Carol Yu, Co-President and CFO of Sohu.com, commented, "Sohu's outstanding results for the first quarter were driven largely by our focus on innovation, the execution of our strategic goals, and our desire to grow our market share and be the leading Internet provider in China. Considering the growing Chinese Internet population and Sohu's strategic vision, we believe that we will continue to enjoy material growth of our businesses in 2008 and beyond. We clearly have the vision and necessary disciplines in place to continue to return value to our shareholders."
Business Outlook
Sohu estimates total revenues for the second quarter of 2008 to be between US$93 million to US$96 million, with advertising revenues of US$40 million to US$41 million and non-advertising revenues of US$53 million to US$55 million.
Sohu estimates brand advertising revenues for the second quarter of 2008 to be between US$38.5 million to US$39.5 million.
Sohu estimates online game revenues for the second quarter of 2008 to be between US$43 million to US$45 million.
Sohu estimates non-GAAP fully diluted earnings per share for the second quarter of 2008 to be between US$0.72 and US$0.75, assuming statutory income tax rate for our major operating entities in China to be 25%.
Assuming no new grants of share-based awards, Sohu estimates share-based compensation expense for the second quarter of 2008 to be between US$2.0 million and US$2.5 million. The estimated impact of this expense is expected to reduce Sohu's fully diluted earnings per share for the second quarter of 2008, under US GAAP, by US$0.05 to US$0.06.
To supplement the unaudited consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Sohu's management uses non-GAAP measures of cost of revenues, operating expenses, net income and net income per share, which are adjusted from results based on GAAP to exclude the compensation cost of share-based awards granted to employees under Statement of Financial Accounting Standard 123R. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.
Sohu's management believes excluding the share-based compensation expense from its non-GAAP financial measure is useful for itself and investors. Further, the amount of share-based compensation expense cannot be anticipated by management and business line leaders and these expenses were not built into the annual budgets and quarterly forecasts, which have been the basis for information Sohu provides to analysts and investors as guidance for future operating performance. As share-based compensation expense does not involve any upfront or subsequent cash outflow, Sohu does not factor this in when evaluating and approving expenditures or when determining the allocation of its resources to its business segments. As a result, the monthly financial results for internal reporting and any performance measure for commission and bonus are based on non-GAAP financial measures that exclude share-based compensation expense.
The non-GAAP financial measures are provided to enhance the investors' overall understanding of Sohu's current financial performance and prospects for the future. A limitation of using non-GAAP cost of revenues, operating expenses, net income and net income per share, excluding share-based compensation expenses is that the share-based compensation charge has been and will continue to be a significant recurring expense in our business for the foreseeable future. In order to mitigate these limitations we have provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between GAAP financial measures that are most directly comparable to the non-GAAP financial measures we have presented.
Notes to Financial Information
Financial information in this press release other than the information indicated as being non-GAAP is extracted from Sohu's unaudited financial statements prepared in accordance with generally accepted accounting principles in the United States.
On June 20, 2006, Sohu discontinued its own e-commerce platform of physical consumer goods. While processing the disposal of its e-commerce business, Sohu is reporting the related business activities as discontinued operations. Sohu's income statement separates out discontinued operations for both current and prior periods in order to focus on continuing operations and provide a consistent basis for comparing financial performance over time.
In those quarters prior to April 1, 2007, most of costs and expenses for the game department were related to product development and research. Accordingly, Sohu recorded all such costs and expenses in product development expenses in its statements of operations. Beginning April 1, 2007, in order to better present operation results to enhance comparability with industry peers, Sohu reclassified expenses related to game operations, mainly salary and benefits of game masters, from product development expense to cost of online game revenues. To conform with current period presentations, the relevant amounts for prior periods have been reclassified. Such reclassification amounted to US$275,000 for the three months ended March 31, 2007.
Safe Harbor Statement
This announcement contains forward-looking statements. It is currently expected the Business Outlook will not be updated until release of Sohu's next quarterly earnings announcement; however, Sohu reserves right to update its Business Outlook at any time for any reason.
Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the uncertain regulatory landscape in the People's Republic of China, fluctuations in Sohu's quarterly operating results, Sohu's historical and possible future losses and limited operating history, and the company's reliance on online advertising sales, online games and wireless services (most wireless revenues are collected from a few mobile network operators) for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 10-K for the year ended December 31, 2007, and other filings with the Securities and Exchange Commission.
Conference Call and Webcast
Sohu's management team will host a conference call today at 8:00 AM ET, April 28, 2008 (or 8:00 PM, April 28, 2008 Beijing/Hong Kong time). To listen to the conference call, please use the dial in numbers below:
USA Toll Number: 1-800-240-4186
International: 1-303-262-2142
A replay of the call will be available for two weeks following the call and can be accessed by dialing the numbers below:
USA Toll Number: 1-800-405-2236
International: 1-303-590-3000
PASSCODE: 11112454#
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About Sohu.com
Sohu.com Inc. is China's premier online brand and indispensable to the daily life of millions of Chinese, providing a network of web properties and community based/web 2.0 products which offer the vast Sohu user community a broad array of choices regarding information, entertainment and communication. Sohu has built one of the most comprehensive matrices of Chinese language web properties and proprietary search engines, consisting of the mass portal and leading online media destination http://www.sohu.com/; interactive search engine http://www.sogou.com/; #1 online alumni club http://www.chinaren.com/; #1 games information portal http://www.17173.com/; the top real estate website http://www.focus.cn/; wireless value-added services provider http://www.goodfeel.com.cn/; and leading online mapping service provider http://www.go2map.com/.
Sohu corporate services consist of brand advertising on its matrix of websites as well as paid listing and bid listing on its in-house developed search directory and engines. Sohu also offers two types of consumer services. The company operates two massive multi-player online role-playing games, namely Tian Long Ba Bu and Blade Online, and a casual game platform. Sohu also offers wireless value-added services such as news, information, music, ringtone and picture content sent over mobile phones. Sohu.com, established by Dr. Charles Zhang, one of China's Internet pioneers, is in its twelfth year of operation.
Sohu.com Contact Information
Erin Sheng
Manager
Investor Relations and Corporate Communications
Tel: +86 10 6272 6596
E-mail: ir@contact.sohu.comhttp://corp.sohu.com
SOHU.COM INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
Three Months Ended
Mar. 31, Dec. 31, Mar. 31,
2008 2007 2007
Revenues:
Advertising
Brand advertising $33,155 $32,166 $23,527
Sponsored search 1,614 1,532 2,086
Subtotal of advertising revenues 34,769 33,698 25,613
Non-advertising
Online game 40,955 23,961 1,617
Wireless 8,593 7,341 5,576
Others 506 342 280
Subtotal of non-advertising
revenues 50,054 31,644 7,473
Total revenues 84,823 65,342 33,086
Cost of revenues:
Advertising
Brand advertising (includes
share-based compensation
expense under SFAS 123(R) of
$309, $363 and $412,
respectively) 11,252 11,049 8,144
Sponsored search (includes
share-based compensation
expense under SFAS 123(R)
of $6, $6 and $19,
respectively) 1,520 1,353 1,578
Subtotal of advertising
cost of revenues 12,772 12,402 9,722
Non-advertising
Online game (includes
stock-based compensation
expense under SFAS 123 (R)
of $5, $4 and $16,
respectively) 3,208 2,765 869
Wireless 3,931 3,238 2,610
Others (includes share-
based compensation
expense under SFAS 123(R)
of $2, $2 and $4,
respectively) 381 530 99
Subtotal of non-advertising
cost of revenues 7,520 6,533 3,578
Total cost of revenues 20,292 18,935 13,300
Gross profit 64,531 46,407 19,786
Operating expenses:
Product development
(includes share-based
compensation expense
under SFAS 123(R) of
$2,263, $612 and $780,
respectively) 11,479 8,395 4,679
Sales and marketing
(includes share-based
compensation expense
under SFAS 123(R) of
$280, $319 and $447,
respectively) 16,140 17,186 7,290
General and administrative
(includes share-based
compensation expense
under SFAS 123(R) of $645,
$579 and $806,
respectively) 6,185 5,746 3,358
Amortization of intangibles 196 202 379
Total operating expenses 34,000 31,529 15,706
Operating profit 30,531 14,878 4,080
Other income (expense) 43 552 (120)
Interest income and exchange difference 166 359 769
Income before income tax expense 30,740 15,789 4,729
Income tax expense (9,185) (720) (282)
Income from continuing operations 21,555 15,069 4,447
Minority Interests 8 5 12
Net income from continuing operations 21,563 15,074 4,459
(Loss) gain from discontinued
E-commerce operations (1) (2) 7
Net income $21,562 $15,072 $4,466
Basic net income per share $0.57 $0.40 $0.12
Shares used in computing
basic net income per share 37,759 37,589 36,722
Diluted net income per share $0.55 $0.39 $0.12
Shares used in computing
diluted net income per share 39,037 39,034 38,986
SOHU.COM INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED, IN THOUSANDS)
As of Mar. 31, As of Dec. 31,
2008 2007
(Audited)
ASSETS
Cash and cash equivalents $160,391 $122,706
Accounts receivable, net 36,193 27,058
Prepaid and other current assets 10,012 7,551
Fixed assets, net 68,356 65,027
Goodwill 55,550 55,542
Intangible assets, net 6,575 7,041
Restricted cash 3,260 4,324
Other assets, net 2,986 1,268
$343,323 $290,517
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued liabilities $92,610 $71,607
Zero coupon convertible senior notes 6 6
Total liabilities 92,616 71,613
Minority interests 2,207 7
Shareholders' equity 248,500 218,897
$343,323 $290,517
SOHU.COM INC.
RECONCILIATIONS TO UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
NON-GAAP NET INCOME EXCLUDING SHARE-BASED COMPENSATION EXPENSE
Three Months Ended Mar. 31, 2008
Non-GAAP
GAAP Adjustments Non-GAAP
Advertising revenues $34,769 $- $34,769
Less: Cost of advertising revenues 12,772 (315)(a) 12,457
Advertising gross profit $21,997 $315 $22,312
Advertising gross margin 63% 64%
Non-advertising revenues $50,054 $- $50,054
Less: Cost of non-advertising
revenues 7,520 (7)(a) 7,513
Non-advertising gross profit $42,534 $7 $42,541
Non-advertising gross margin 85% 85%
Total revenues $84,823 $- $84,823
Less: Total cost of revenues 20,292 (322)(a) 19,970
Gross profit $64,531 $322 $64,853
Gross margin 76% 76%
Operating expenses $34,000 $(3,188)(a) $30,812
Net income $21,562 $3,510 $25,072
Diluted net income per share $0.55 $0.64
Shares used in computing diluted
net income per share 39,037 39,220
Three Months Ended Dec. 31, 2007
Non-GAAP
GAAP Adjustments Non-GAAP
Advertising revenues $33,698 $- $33,698
Less: Cost of advertising revenues 12,402 (369)(a) 12,033
Advertising gross profit $21,296 $369 $21,665
Advertising gross margin 63% 64%
Non-advertising revenues $31,644 $- $31,644
Less: Cost of non-advertising
revenues 6,533 (6)(a) 6,527
Non-advertising gross profit $25,111 $6 $25,117
Non-advertising gross margin 79% 79%
Total revenues $65,342 $- $65,342
Less: Total cost of revenues 18,935 (375)(a) 18,560
Gross profit $46,407 $375 $46,782
Gross margin 71% 72%
Operating expenses $31,529 $(1,510)(a) $30,019
Net income $15,072 $1,885 $16,957
Diluted net income per share $0.39 $0.43
Shares used in computing diluted
net income per share 39,034 39,237
Three Months Ended Mar. 31, 2007
Non-GAAP
GAAP Adjustments Non-GAAP
Advertising revenues $25,613 $- $25,613
Less: Cost of advertising revenues 9,722 (431)(a) 9,291
Advertising gross profit $15,891 $431 $16,322
Advertising gross margin 62% 64%
Non-advertising revenues $7,473 $- $7,473
Less: Cost of non-advertising
revenues 3,578 (20)(a) 3,558
Non-advertising gross profit $3,895 $20 $3,915
Non-advertising gross margin 52% 52%
Total revenues $33,086 $- $33,086
Less: Total cost of revenues 13,300 (451)(a) 12,849
Gross profit $19,786 $451 $20,237
Gross margin 60% 61%
Operating expenses $15,706 $(2,033)(a) $13,673
Net income $4,466 $2,484 $6,950
Diluted net income per share $0.12 $0.18
Shares used in computing diluted
net income per share 38,986 39,582
Note:
(a) To eliminate share-based compensation expense as measured using the fair value method under SFAS 123(R).
Sohu.com
CONTACT: Erin Sheng of Sohu.com, Manager, Investor Relations and Corporate Communications, +86-10-6272-6596, ir@contact.sohu.comhttp://corp.sohu.com
Web site: http://corp.sohu.com/ http://www.sogou.com/ http://www.chinaren.com/ http://www.17173.com/ http://www.goodfeel.com.cn/ http://www.go2map.com/
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