Companies news of 2008-04-30 (page 4)
First Quarter Net Income Rises 934% on 150% Sales Gain at Digital Ally, Inc.DILUTED E.P.S....
XFMedia to Hold Earnings Conference Call One Hour Earlier
ATK Delivers Second Advanced Anti-Radiation Guided Missile (AARGM) Test Bed...
TIBCO SOA Management Platform Adopted By Business Service Management Market LeaderTIBCO...
TIBCO ActiveMatrix to Provide Predictive Service Level Agreement Management for Service...
TIBCO Expands Leadership in Ultra-Low Latency Messaging With Its First Integrated...
TIBCO Advances Service Oriented Architecture (SOA) With Closer Microsoft IntegrationTIBCO...
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ShengdaTech Schedules Conference Call to Discuss 2008 First Quarter Results
McAfee, Inc. Announces Investor Day 2008
Sensata Technologies B.V. Announces First Quarter 2008 Results- Record high net revenue...
EFJ, Inc. Announces First Quarter 2008 Financial ResultsCompany On Track with Strategic...
Digital Ally, Inc. to Host the First Quarter 2008 Conference Call on April 30, 2008
First Quarter Net Income Rises 934% on 150% Sales Gain at Digital Ally, Inc.DILUTED E.P.S. OF $0.10 COMPARES WITH $0.01 IN FIRST QUARTER OF 2007
OVERLAND PARK, Kan., April 30 /PRNewswire-FirstCall/ -- Digital Ally, Inc. , which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, today reported record revenue and net income for the first quarter of 2008. An investor conference call is scheduled for 11:00 a.m. EDT today, April 30, 2008 (see details below).
For the three months ended March 31, 2008, revenue increased 150% to approximately $8.6 million when compared with revenue of approximately $3.4 million in the first quarter of 2007. Revenue during the first quarter of 2008 increased 22% when compared with approximately $7.0 million in the fourth quarter of 2007.
Gross profits improved 178% to $5,320,894 (61.9% of revenue) in the quarter ended March 31, 2008, compared with gross profits of $1,914,246 (55.7% of revenue) in the corresponding period of the previous year. Pretax income rose 1,456% to $2,522,787 in the most recent quarter, versus $162,150 in the prior-year quarter. After an income tax provision of $846,000, the Company recorded net income of $1,676,787 in the first quarter of 2008. This compared with no income tax provision and net income of $162,150 in the quarter ended March 31, 2007. Basic earnings per share increased 1,100% to $0.12 in the quarter ended March 31, 2008, compared with $0.01 per basic share in the prior-year period. Diluted earnings per share rose 900% to $0.10 in the quarter ended March 31, 2008, versus $0.01 in the first quarter of 2007.
Adjusted EBITDA (net income before interest, income taxes, depreciation, amortization, and stock-based compensation), a non-GAAP financial measure, increased 272% to $2,751,566 in the most recent quarter when compared with $739,803 in the quarter ended March 31, 2007. (Adjusted EBITDA is described in greater detail in a table at the end of this news release).
"We have achieved revenue growth in every sequential quarter since we began delivering our advanced digital video surveillance products to law enforcement agencies in March 2006, and I am very pleased to report our eighth consecutive quarter of record sales during the first quarter of 2008," stated Stanton E. Ross, Chief Executive Officer of the Company. "We continue to see follow-on orders with larger quantities from many existing customers, while converting a high percentage of opportunities with new customers to our product. Our DVM-500 In-Car Video Rearview Mirror System has achieved increasing acceptance among law enforcement agencies throughout the United States and within a growing number of foreign countries."
"Our gross profit margins improved to 61.9% of revenues in the most recent quarter, versus 55.7% a year earlier and 57.8% in the fourth quarter of 2007, reflecting higher productivity and efficiencies as we have significantly increased production rates and improved costs related to our supply chain. Operating income of approximately $2.5 million in the first quarter of 2008 was equivalent to 87% of the Company's operating income for the full year ended December 31, 2007. Even though we provided for income taxes at a 33.5% rate in the quarter ended March 31, 2008, our after-tax earnings increased 934%, when compared with the prior-year period, when no income tax provision was necessary."
"We have continued to pursue an aggressive research and development program targeting new market opportunities, with our R&D expenses increasing 250% to $432,033 in the first quarter of 2008, compared with $123,532 in the year-earlier quarter," continued Ross. "We are developing new products and line extensions for our current products, some of which we expect to bring to market during 2008. R&D projects on several new products designed for the school bus, mass transit, taxi cab and other markets, along with upgrades to our existing products, are currently underway."
"Other notable accomplishments during the first quarter of 2008 included the listing of our common stock on The Nasdaq Capital Market and an increase in the size of our production/assembly facility in order to accommodate anticipated revenue growth during 2008. We ended the quarter with approximately $4.9 million of cash and equivalents in the bank, a current ratio of 5.9-to-1.0, no long- or short-term bank debt outstanding and stockholders' equity of $12.0 million, and we are well-positioned to fund our operating requirements for the balance of the year. Based upon our performance during the first quarter and other information currently available, we reaffirm our previous guidance that revenue for the year ending December 31, 2008 should more than double, to approximately $40 million, compared with $19.4 million during 2007."
Non-GAAP Financial Measures
Digital has provided financial information in this release that has not been prepared in accordance with GAAP. This information includes non-GAAP adjusted EBITDA. Digital uses such non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating Digital's ongoing operational performance. Digital believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial measures with other companies in Digital's industry, many of which present similar non-GAAP financial measures to investors. As noted, the non-GAAP financial measures discussed above exclude interest income/expense, income taxes, depreciation and amortization and share-based compensation expense pursuant to SFAS 123(R).
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measure as detailed above. As previously mentioned, a reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release.
Investor Conference Call
The Company will host an investor conference call at 11:00 a.m. Eastern Time today, April 30, 2008, to discuss its first quarter operating results and other topics of interest. Shareholders and other interested parties may participate in the conference call by dialing 800-860-2442 (international/local participants dial 412-858-4600) and asking to be connected to the Digital Ally, Inc. conference call a few minutes before 11:00 a.m. EDT on April 30, 2008. The call will also be broadcast live on the Internet at http://www.videonewswire.com/event.asp?id=47996. A replay of the conference call will be available one hour after the completion of the conference call from April 30, 2008 until June 30, 2008 by dialing 877-344-7529 (international/local participants dial 412-317-0088) and entering the conference ID 418912.
The call will also be archived on the Internet through July 29, 2008, at http://www.videonewswire.com/event.asp?id=47996 and on the Company's website at http://www.digitalallyinc.com/.
About Digital Ally, Inc.
Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial security applications. The Company's primary focus is digital video imaging and storage. For additional information, visit http://www.digitalallyinc.com/
The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol "DGLY".
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company's ability to have all of its new product offerings perform as planned or advertised; whether there will be a commercial market, domestically and internationally, for one or more of its new products; its ability to commercialize its products and production processes, including increasing its production capabilities to satisfy orders in a cost-effective manner; its ability to continue to increase revenue and profits, including the achievement of approximately $40 million in revenues in 2008; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; its ability to obtain patent protection on any of its products and, if obtained, to defend such intellectual property rights; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
For Additional Information, Please Contact:
Stanton E. Ross, CEO at (913) 814-7774
or
RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or
via email at info@rjfalkner.com
DIGITAL ALLY, INC.
CONDENSED BALANCE SHEETS
MARCH 31, 2008 AND DECEMBER 31, 2007
March 31, 2008 December 31, 2007
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $4,881,435 $4,255,039
Accounts receivable-trade, less allowance
for doubtful accounts of $30,000 - 2008
and $28,224 - 2007 3,017,804 523,011
Accounts receivable-other 259,593 211,687
Inventories 3,239,414 2,964,098
Prepaid expenses 153,621 232,901
Deferred taxes 425,000 795,000
Total current assets 11,976,867 8,981,736
Furniture, fixtures and equipment 1,349,539 1,180,318
Less accumulated depreciation 383,956 301,632
965,583 878,686
Deferred taxes 1,035,000 980,000
Other assets 72,002 65,007
Total assets $14,049,452 $10,905,429
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $897,931 1,008,831
Accrued expenses 886,240 507,695
Income taxes payable 213,500 26,000
Customer deposits 20,680 243,171
Total current liabilities 2,018,351 1,785,697
Unearned income 4,834 3,864
Commitments and contingencies
Stockholders' equity:
Common stock, $0.001 par value;
75,000,000 shares authorized;
Shares issued and outstanding:
14,891,485 - 2008; 14,092,260- 2007 14,891 14,092
Additional paid in capital 13,343,703 12,110,890
Accumulated deficit (1,332,327) (3,009,114)
Total stockholders' equity 12,026,267 9,115,868
Total liabilities and stockholders' equity $14,049,452 $10,905,429
DIGITAL ALLY, INC.
CONDENSED STATEMENTS OF INCOME
FOR THE THREE MONTHS ENDED
MARCH 31, 2008 AND 2007
Three months ended
March 31, 2008 March 31, 2007
(unaudited) (unaudited)
Revenue $8,601,923 $3,439,729
Cost of revenue 3,281,029 1,525,483
Gross profit 5,320,894 1,914,246
Operating expenses 2,825,054 1,736,799
Operating income 2,495,840 177,447
Financial income (expense):
Interest income 26,947 2,787
Interest expense -- (18,084)
26,947 (15,297)
Income before income tax provision 2,522,787 162,150
Income tax provision 846,000 --
Net income $1,676,787 $162,150
Net income per share information:
Basic $0.12 $0.01
Diluted $0.10 $0.01
Weighted average shares outstanding:
Basic 14,474,062 13,309,027
Diluted 17,280,460 14,437,208
DIGITAL ALLY, INC.
RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA
FOR THE THREE MONTHS ENDED
MARCH 31, 2008 AND 2007
Three months ended
March 31, 2008 March 31, 2007
(unaudited) (unaudited)
Net income $1,676,787 $162,150
Non-GAAP adjustments:
Interest (income) expense (26,947) 15,297
Income tax provision 846,000 --
Stock-based compensation 173,402 521,913
Depreciation and amortization 82,324 40,443
Total Non-GAAP adjustments 1,074,779 577,653
Non-GAAP adjusted EBITDA $2,751,566 $739,803
DIGITAL ALLY, INC.
CONDENSED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2008 AND 2007
Three months ended
March 31, 2008 March 31, 2007
(unaudited) (unaudited)
Cash Flows From Operating Activities:
Net income $1,676,787 $162,150
Adjustments to reconcile net income to net
cash flows (used in) provided by operating
activities:
Depreciation 82,324 40,443
Stock based compensation 173,402 521,913
Reserve for inventory obsolescence 70,309 --
Reserve for bad debts 1,776 --
Deferred tax provision 315,000 --
Change in assets and liabilities:
(Increase) decrease in:
Accounts receivable - trade (2,496,569) (584,878)
Accounts receivable - other (47,906) 16,507
Inventories (345,625) 249,598
Prepaid expenses 79,280 (15,561)
Other assets (6,995) (28,277)
Increase (decrease) in:
Accounts payable (110,900) (347,570)
Accrued expenses 378,545 (98,576)
Income taxes payable 187,500 --
Customer deposits (222,491) 164,423
Unearned income 970 --
Net cash (used in) provided by operating
activities (264,593) 80,172
Cash Flows from Investing Activities:
Purchases of furniture, fixtures and
equipment (169,221) (33,197)
Other assets - deposits -- (6,305)
Net cash (used in) investing activities (169,221) (39,502)
Cash Flows from Financing Activities:
Proceeds from exercise of stock options
and warrants 757,710 --
Excess tax benefits related to stock-based
compensation 302,500 --
Net cash provided by financing activities 1,060,210 --
Increase in cash and cash equivalents 626,396 40,670
Cash and cash equivalents, beginning of
period 4,255,039 57,160
Cash and cash equivalents, end of period $4,881,435 $97,830
Supplemental disclosures of cash flow
information:
Cash payments for interest $-- $18,084
Cash payments for income taxes $41,000 $--
Supplemental disclosures of non-cash investing
and financing activities:
Common stock surrendered as consideration
for cashless exercise of stock options $356,178 $--
(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE COMPANY'S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31, 2008 TO BE FILED WITH THE SEC)
Digital Ally, Inc.
CONTACT: Stanton E. Ross, CEO of Digital Ally, Inc., +1-913-814-7774; or Investor Relations Counsel, RJ Falkner & Company, Inc., 1-800-377-9893, info@rjfalkner.com, for Digital Ally, Inc.
Web site: http://www.digitalallyinc.com/
XFMedia to Hold Earnings Conference Call One Hour Earlier
Earnings Conference Call to be Held on May 12, 2008
at 8:00 PM (New York Time) (May 13, 2008 at 8:00 AM Beijing Time)
BEIJING, April 30 /Xinhua-PRNewswire-FirstCall/ -- Xinhua Finance Media Limited ("XFMedia"; Nasdaq: XFML), a leading media group in China, today announced that its first quarter earnings conference call will be rescheduled one hour earlier to May 12, 2008 at 8:00 PM (New York time) (May 13, 2008 at 8:00AM Beijing time) following the earnings announcement, in order to facilitate more participation due to daylight saving time.
The call-in details remain unchanged. Interested parties may dial into the conference call at (US) +1 800 510 0178 or +1 617 614 3450/ (UK) +44 207 365 8426 / (Asia Pacific) +852 3002 1672, Passcode: XFML. A telephone replay will be available shortly after the call for one week at (US Toll Free) +1 888 286 8010 and (International) +1 617 801 6888, Passcode: 68168556.
A real-time webcast and replay will also be available at: http://www.xinhuafinancemedia.com/earnings-webcast .
XFMedia's earnings release and related materials will be available on the investor relations page of its website at http://www.xinhuafinancemedia.com/earnings .
About Xinhua Finance Media Limited
Xinhua Finance Media ("XFMedia"; NASDAQ: XFML) is a leading media group in China with nationwide access to the upwardly mobile demographic. Through its five synergistic business groups, Advertising, Broadcast, Print, Production and Research, XFMedia offers a total solution empowering clients at every stage of the media process and connecting them with their target audience. Its unique platform covers a wide range of media assets, including television, radio, newspaper, magazine, outdoor, online and other media assets.
Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit http://www.xinhuafinancemedia.com/ .
For more Information:
Media Contact
Ms Joy Tsang,
Tel: +86-21-6113-5999
Email: joy.tsang@xinhuafinancemedia.com
IR Contact
Ms Jennifer Chan Lyman,
Tel: +86-21-6113-5960
Email: jennifer.lyman@xinhuafinancemedia.com
Xinhua Finance Media Limited
CONTACT: Media Contact - Ms Joy Tsang, +86-21-6113-5999, or joy.tsang@xinhuafinancemedia.com; IR Contact - Ms Jennifer Chan Lyman, +86-21- 6113-5960, or jennifer.lyman@xinhuafinancemedia.com
Web site: http://www.xinhuafinancemedia.com/
ATK Delivers Second Advanced Anti-Radiation Guided Missile (AARGM) Test Bed AircraftModified King Air Aircraft Developed for the Italian Air Force is a Key Asset in United States-Italy Cooperative AARGM Development Program
MINNEAPOLIS, April 30 /PRNewswire-FirstCall/ -- Alliant Techsystems , the U.S. Navy, the Italian Air Force, and Vitrociset S.p.A., have fielded a second Beechcraft King Air test aircraft supporting development and testing of the Advanced Anti-Radiation Guided Missile (AARGM). The test bed aircraft was developed for the Italian Air Force as part of the AARGM System Development and Demonstration (SD&D), a Cooperative Development Program between the U. S. Navy and Italian Air Force. The aircraft and its integrated AARGM guidance section will be delivered to Italy to conduct tests on Italian ranges. Captain Giorgio Dessi, the Italian Air Force representative at the U.S. Navy - Italian Air Force AARGM Program Management Integrated Product Team (PM IPT) flew on the first test flight February 28th from Van Nuys, Cal. celebrating the completion of aircraft modifications.
"This is a great day for the AARGM cooperative development program," said Capt. Dessi at a ribbon cutting ceremony in the Van Nuys hangar. "This key asset will serve to optimize AARGM lethality against ground-based air defense targets, and it is another big achievement that demonstrates the successful cooperation in this great program. I look forward to the aircraft's delivery to Italy."
This second AARGM test aircraft is identical to the first King Air test aircraft which has been operating on U.S. ranges over the past few years. Each aircraft has a modified nose assembly carrying the AARGM guidance section to support airborne testing of the sophisticated sensor suite. AARGM sensors include an advanced digital, anti-radiation homing (ARH) receiver for passive detection, tracking, and location of threat emitter systems and an active millimeter wave (MMW) radar for terminal guidance. The test aircraft carries a wide array of avionics and data recording equipment. A crew consisting of a pilot and up-to-four test engineers monitor and evaluate system performance real time during airborne test profiles.
"The first Beech King Air flight testing is an essential element of our AARGM test program and has been critical to our program's success to-date," said Gordon Turner, ATK's Strike Weapons Director. "As we complete the developmental and operational testing, this second test aircraft will fulfill a critical role in our overall system evaluation and will specifically support sensor characterization against a wide array of air defense targets. This aircraft shall contribute to the program well beyond the development phase by supporting on-going threat file development efforts."
When the aircraft is delivered to Italy, it will commence testing against threat-representative targets located on an Italian Test Range in Sardinia. Under the AARGM cooperative development, a number of threat representative systems have been developed and deployed to the Sardinia Test Range. The planned testing allows for optimization of sensor performance in various clutter environments and characterization of target signatures to improve the fidelity of the MMW seeker database.
ATK developed the test aircraft in partnership with Vitrociset S.p.A. and the U.S. Navy / Italian Air Force Integrated Test Team, led by the Direct and Time Sensitive Strike Program Office (PMA-242). The team also includes members from the Naval Air Warfare Center Weapons Division - China Lake. The cooperative test program, conducted on ranges in both countries, is symbolic of the spirit of cooperation between the U.S. Navy and the Italian Air Force with the AARGM Program. "I am very pleased with our continued progress in developing lethal destruction of enemy air defense (DEAD) capability for our U.S. and Italian warfighters," said navy Capt. Larry Egbert, the Department of Defense program manager Direct and Time Sensitive Strike programs. "I continue to be exceptionally proud of the achievements of our international government- industry team."
AARGM is in the final year of a 5-year System Development and Demonstration (SD&D) phase. The program is on track for a Milestone C decision later this fiscal year and entry into Low Rate Initial Production. In addition to these King Air test flights, the program has conducted extensive lab and field testing, multiple F/A-18C/D Captive Carriage tests, seven successful advanced concept technology demonstrations (ACTD) launches, and two direct-hit developmental test firings.
AARGM is a supersonic, air-launched tactical missile that will be integrated on the F/A-18 C/D, F/A-18 E/F, EA-18G and Tornado IDS/ECR aircraft. The missile is also being designed to be compatible with the F-35, EA-6B and U.S. and Allied F-16 aircraft. Its advanced multi-sensor system, including a Millimeter Wave (MMW) terminal seeker, advanced digital Anti-Radiation Homing (ARH) receiver and a GPS/INS, is capable of rapidly engaging traditional and advanced enemy air defense targets as well as non-radar time-sensitive strike targets. The AARGM MMW seeker can operate in concert with the ARH to counter RF shutdown tactics, or in a stand-alone mode to guide to non-emitting time sensitive targets. AARGM is a network-enabled weapon that directly receives tactical intelligence information via an embedded data link and transmits real-time Weapon Impact Assessment (WIA) reports. AARGM, the successor to the U.S. Navy AGM-88 HARM system, is a U.S. and Italian international cooperative major acquisition program with the U.S. Navy as the executive agent.
ATK is a premier advanced weapon and space systems company with annual revenues in excess of $4.1 billion that employs more than 17,000 people in 21 states. News and information can be found on the Internet at http://www.atk.com/.
Certain information discussed in this press release constitutes forward- looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the challenges of developing next-generation missile technology; changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
Media Contact: Investor Contact:
Tracy Imm Steve Wold
Phone: 410-864-4824 Phone: 952-351-3056
E-mail: tracy.imm@atk.com E-mail: steve.wold@atk.com
ATK
CONTACT: Tracy Imm, +1-410-864-4824, tracy.imm@atk.com; or Investor Contact, Steve Wold, +1-952-351-3056, steve.wold@atk.com, both of ATK
Web site: http://www.atk.com/
TIBCO SOA Management Platform Adopted By Business Service Management Market LeaderTIBCO ActiveMatrix to Provide SOA Foundation for BMC Software's BSM Platform
SAN FRANCISCO, April 30 /PRNewswire-FirstCall/ -- TUCON(R) -- TIBCO Software Inc. today announced that BMC Software will embed TIBCO ActiveMatrix(TM) in its Business Service Management (BSM) platform. BMC selected TIBCO ActiveMatrix because of its ease of use and ability to provide service enablement and management on a single platform.
ActiveMatrix(TM) will provide BMC and its customers with a powerful solution that combines the TIBCO's independent infrastructure software with BMC's market-leading IT management offerings. Spanning enterprise systems, applications, databases and service management, BSM empowers the world's largest and most sophisticated companies to automate their IT and align it with the needs of the business.
ActiveMatrix includes capabilities for service integration, composite application development and governance under a single platform to better manage heterogeneous service oriented architectures (SOAs).
Matt Quinn, TIBCO's senior vice president of engineering and technology strategies, said: "BMC has a clear understanding of SOA in a Business Service Management environment and is the leader in that market. BMC's use of the ActiveMatrix platform delivers significant customer benefits that no other company provides. TIBCO is delighted to be a part of such a market-leading offering."
Tom Bishop, BMC's chief technology officer, added: "BMC Software chose to work with TIBCO because of their commitment to, and participation in, the creation and support of open standards. ActiveMatrix will power a SOA-enabled solution that will position BMC far ahead of our competitors and will provide our customers with deeper governance and management capabilities."
Bob Beauchamp, BMC's president and chief executive officer, will outline details of the partnership in his keynote speech at TIBCO's User Conference today.
About TIBCO
TIBCO digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now(R). TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at http://www.tibco.com/.
TIBCO, the TIBCO logo, The Power of Now, TUCON, ActiveMatrix and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and
marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
TIBCO Software Inc.
CONTACT: Philip Tree of TIBCO Software Inc., +1-650-846-8576, ptree@tibco.com; or Bill Bourdon of Bateman Group for TIBCO, +1-415-602-1491, bbourdon@bateman-group.com
Web site: http://www.tibco.com/
TIBCO ActiveMatrix to Provide Predictive Service Level Agreement Management for Service Oriented Architecture (SOA)New Capability Automatically Solves Performance Issues Before They Occur
SAN FRANCISCO, April 30 /PRNewswire-FirstCall/ -- TUCON(R) -- TIBCO Software Inc. today announced it has added new functionality to its ActiveMatrix(TM) Service Oriented Architecture (SOA) platform to automatically predict and fix IT service problems before they slow down access to mission critical business information. The new TIBCO ActiveMatrix(TM) Service Performance Manager capabilities mark the next wave of SOA infrastructure software technology from TIBCO by moving into the realm of predicatively taking action to solve technology problems before they occur.
As SOA continues to grow in use and sophistication with expanded use of individual services across the enterprise, customers have the unique challenge of understanding and managing the dependency and re-use of services that may have originally been built for one specific use and are now depended on by multiple services, creating potential weak points in the system.
ActiveMatrix(TM) Service Performance Manager understands business Service Level Agreements (SLA) and can monitor actual latency within context and time. It proactively predicts and solves problems by taking action to, for example, replicate an SOA service module or bring on-line additional servers to automatically head off slowdowns and service interruptions and sends a notice of the action taken.
This improves IT agility by enabling automatic and proactive, rather than reactive, response to the time-consuming task of tracking, finding and fixing glitches that naturally occur in today's heterogeneous IT systems. The new ActiveMatrix Service Performance Manager allows all kinds of businesses to proactively predict and completely manage their SOA's.
"Business and IT users need the agility to immediately scale resources to meet the ever increasing loads and demands of SOA services," said Matt Quinn, senior vice president of engineering and technology strategies at TIBCO. "The expanded functionality of ActiveMatrix Service Performance Manager allows companies to prevent IT problems automatically and behind the scenes, so they can focus on strategic projects that are valuable to their business."
Availability
The TIBCO ActiveMatrix(TM) Service Performance Management module is scheduled for release in calendar Q2 of 2008.
About TIBCO
TIBCO digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now(R). TIBCO serves more than 3,000 customers around the world with offices in 20 countries and an ecosystem of over 200 partners. Learn more at http://www.tibco.com/.
The foregoing document includes a description of certain planned future availability of TIBCO product(s) or product functionality. Such description and projected timing is provided for informational purposes only and is subject to change without notice.
TIBCO, The Power of Now, TUCON, ActiveMatrix, ActiveMatrix Service Performance Management and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
TIBCO Software Inc.
CONTACT: Phillip Tree of TIBCO Software Inc., +1-650-846-8529, ptree@tibco.com; or Bill Bourdon of Bateman Group for TIBCO, +1-415-602-1491, bbourdon@bateman-group.com
Web site: http://www.tibco.com/
TIBCO Expands Leadership in Ultra-Low Latency Messaging With Its First Integrated Messaging Appliance- New Addition to TIBCO Rendezvous Product Family- Helps Cut Data Center Power Use and Optimizes Space Utilization- Industry's Only Appliance To Implement TIBCO Rendezvous(R) Software
SAN FRANCISCO, April 30 /PRNewswire-FirstCall/ -- TUCON(R) -- TIBCO Software Inc. today announced a significant addition to the company's market-leading messaging technology, unveiling a hardware messaging appliance specifically designed to accelerate the capabilities and performance of TIBCO Rendezvous(R) software. Building on TIBCO Rendezvous' breakthrough reliability, predictability and manageability, this tightly integrated hardware/software combination will offer improved application-to-application, ultra-low latency messaging throughput for mission critical data.
With TIBCO's integrated hardware/software messaging solution in place, organizations will also be able to reduce the amount of server space required to run the Rendezvous(R) software by a 10 to 1 ratio, cutting data center power use and optimizing space and resource utilization.
"For financial services organizations such as exchanges, brokerages and hedge funds, every microsecond counts when it comes to accessing and disseminating mission-critical data," said Denny Page, chief engineer for TIBCO. "TIBCO is answering this industry need with a company first: a powerful integrated solution that combines the performance, reliability and manageability of our Rendezvous software with a cost and energy efficient dedicated hardware messaging appliance. TIBCO Messaging Appliance(TM) will provide the improvements in latency and throughput needed to drive increased business responsiveness and competitive advantage."
Rendezvous users will be able to take advantage of the performance improvements enabled by the appliance without any code changes to their existing applications that are already enabled by Rendezvous.
This appliance is TIBCO's first foray into hardware and TIBCO has chosen experienced hardware vendor Solace Systems to act as its manufacturing partner in bringing its new messaging appliance to market. The product is scheduled for release in late calendar year 2008, with pricing to be announced.
About TIBCO
TIBCO digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now(R). TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at http://www.tibco.com/.
The foregoing document includes a description of certain planned future availability of TIBCO product(s) or product functionality. Such description and projected timing is provided for informational purposes only and is subject to change without notice.
TIBCO, The Power of Now, Rendezvous, TIBCO Messaging Appliance, TUCON and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
TIBCO Software Inc.
CONTACT: Philip Tree of TIBCO Software Inc., +1-650-846-8576, ptree@tibco.com; or Bill Bourdon of Bateman Group, +1-415-602-1491, bbourdon@bateman-group.com, for TIBCO
Web site: http://www.tibco.com/
TIBCO Advances Service Oriented Architecture (SOA) With Closer Microsoft IntegrationTIBCO Selects Silverlight for Rich Internet Application Development
SAN FRANCISCO, April 30 /PRNewswire-FirstCall/ -- TUCON(R) -- TIBCO Software Inc. today announced that the company is working closely with Microsoft to make it easier for customers to use their respective technologies together - giving them more power and flexibility over their service-oriented architectures.
The new technology integration and support announcements are focused on:
-- TIBCO and Microsoft Windows Communication Foundation - enables
Microsoft .NET Framework services and applications to easily
communicate using TIBCO's industry-leading Enterprise Message
Service(TM) platform, giving these applications a degree of reliability
and scalability not previously possible.
-- TIBCO's selection of Microsoft Silverlight for Rich Internet
Application development - Delivers the best experience for customers
that have large-scale deployment and scalability requirements and
complements what can be done using AJAX.
Today's announcement is the first wave of commitments focused on making it easier for customers to take advantage of their existing IT investments in software from Microsoft and TIBCO.
"We want to help customers make the most of their existing technology investments and provide them with the tools and infrastructure to continue to innovate," said Burley Kawasaki, director of the Connected Systems Division at Microsoft Corp. "By working with TIBCO to enhance interoperability with Windows Communication Foundation, we will make it easier for developers to create services across platforms."
TIBCO and Microsoft Windows Communication Foundation
Interoperability between TIBCO and Microsoft environments is enhanced by the new TIBCO(R) EMS Transport Channel for WFC. TIBCO EMS Transport Channel for WFC enables .NET Framework services and applications to easily communicate using TIBCO's industry-leading messaging platform.
Joint customers can more easily build fully integrated applications using a mix of development tools from Microsoft and other third parties. The majority of today's large-scale enterprise IT and SOA projects are heterogeneous in nature, and thus it is critical that these initiatives can integrate multiple systems on an independent platform, such as TIBCO.
Advanced Web services support in TIBCO EMS Transport Channel for WFC provides secure, reliable and transacted messaging along with interoperability. The service-oriented programming model of TIBCO EMS Transport Channel for WFC is built on the Microsoft .NET Framework and simplifies development of connected systems. These features coupled with the speed and scalability of TIBCO's Enterprise Messaging Service allows for message-based applications that span global organizations.
Silverlight Commitment
The second pillar in Microsoft and TIBCO's expanded relationship is TIBCO's commitment to use Microsoft Silverlight in future products where the need for extremely rich browser-based interactions complements what can be done using AJAX.
"We chose Microsoft Silverlight to complement our AJAX strategy because we feel it delivers the best user experience while providing an extremely rich set of authoring and developer tools. This means we get the best experience in the shortest time to market which is great for our customers," said Matt Quinn, senior vice president of Engineering and Technology Strategies at TIBCO Software Inc. "What's more, Silverlight enhances our overall user experience product strategy by taking advantage of existing .NET developer skills. It is modern, light, developers love it and it holds great market potential."
About TIBCO
TIBCO digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now(R). TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at http://www.tibco.com/.
TIBCO, the TIBCO logo, The Power of Now, TUCON, TIBCO EMS Transport Channel for WFC, Enterprise Message Service, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
TIBCO Software Inc.
CONTACT: Philip Tree of TIBCO Software Inc., +1-650-846-8576, ptree@tibco.com; or Bill Bourdon of Bateman Group for TIBCO, +1-415-602-1491, bbourdon@bateman-group.com
Web site: http://www.tibco.com/
TIBCO Expands Strategic Alliance With Infosys- Kris Gopalakrishnan, Infosys CEO, To Keynote TUCON- Infosys And TIBCO Open Concept Center At The Infosys Campus In Bangalore
SAN FRANCISCO, April 30 /PRNewswire-FirstCall/ -- TUCON(R) -- TIBCO Software Inc. today announced that it has expanded its existing eight-year relationship with Infosys Technologies , the global IT consulting company. Infosys CEO, Kris Gopalakrishnan, will use his keynote speech at TUCON to outline how the strategic alliance has enabled TIBCO and Infosys to win new customers by delivering a unique value proposition based on the two companies' combined experience and market knowledge.
By combining their respective best practices to create a best-of-breed alliance partnership, TIBCO and Infosys assist companies in testing, building and optimizing high-quality software solutions that create a competitive advantage. Infosys brings a unique value proposition to its customers because of its Integrated Competency Center based delivery model for its TIBCO customers. Customers benefit from the frameworks and accelerators developed by Infosys that leverage the TIBCO product capabilities.
Demonstrating their commitment to customer excellence, TIBCO and Infosys recently opened a Concept Center at the Infosys campus in Bangalore, India. Serving as a valuable educational resource, the Concept Center showcases joint solutions offered by TIBCO and Infosys to the global market. Customers and prospects that visit the Concept Center will gain an in-depth understanding of project methodologies and relevant industry standards, as well as access to resources for modernizing and integrating legacy systems and business processes within a service-oriented architecture (SOA).
"As the industry's leader in platform-independent infrastructure software, TIBCO enables lower cost of ownership and faster time-to-value for organizations who want the ability to customize an approach in line with their specific business needs," said Abhishek, associate vice-president and head of the BPM-EAI practice at Infosys Technologies. "Our alliance partnership with TIBCO directly addresses the challenges we are hearing from our customers."
The expanded Concept Centre will also offer customers implementation guidelines based on real-world experiences using state-of-the-art digital communication and video conferencing technologies, enabling joint customers around the world to benefit from learning about the companies' latest offerings for driving value from their IT infrastructure.
TIBCO executive vice president, Ram Menon commented: "This deepened alliance partnership allows Infosys and TIBCO to leverage their respective strengths to jointly and proactively address customer needs, showcasing product and solution collateral and best-of-breed delivery practices for customers." He continued: "This will help customers realize real-time visibility, understanding, and action at optimal costs, and gain an in-depth understanding of project methodologies and relevant industry standards."
About TIBCO
TIBCO digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now(R). TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at http://www.tibco.com/.
TIBCO, The Power of Now, TUCON, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
TIBCO Software Inc.
CONTACT: Phillip Tree of TIBCO Software Inc., +1-650-846-8529, ptree@tibco.com; or Bill Bourdon of Bateman Group for TIBCO, +1-415-602-1491, bbourdon@bateman-group.com
Web site: http://www.tibco.com/
SonicWALL Accelerates Network Performance With Enhanced Deep Packet Inspection EngineEnd Users Access Web 2.0 and Other Internet-Based Applications Without Security or Performance Constraints
SUNNYVALE, Calif. and LAS VEGAS, April 30 /PRNewswire-FirstCall/ -- SonicWALL, Inc. , a leading secure network infrastructure company, today announced the availability of the SonicWALL Re-assembly Free Deep Packet Inspection (RFDPI) 8 engine. The breakthrough inspection engine, now optimized for SonicWALL's network security appliance (NSA) multi-core architecture, provides IT administrators with increased insight into inbound and outbound network content without compromising security or performance. This is particularly important as Web 2.0 applications continue to push their way into the business environment introducing new threats and taxing organizations' network bandwidth.
The new inspection engine is part of SonicWALL's overall Unified Threat Management (UTM) strategy, a layered security approach that addresses an increasingly complicated threat landscape. Using the RFDPI 8 engine's speed and intelligent inspection capabilities, SonicWALL UTM solutions allow administrators to inspect network traffic against malware, viruses and other threats while still maintaining the flow of information.
"Employees are increasingly deploying and using Web 2.0 applications such as social networks and streaming media in the workplace," said Jon Kuhn of SonicWALL. "For the IT administrator, the challenge is balancing access to these applications with security. SonicWALL's RFDPI 8 engine puts the control back into the hands of the administrators by providing deep inspection capabilities of all network traffic to provide uncompromised security, without sacrificing bandwidth -- it's no longer an either/or situation."
With the wide array of potential internal and external risks, organizations need security at every level -- from email signatures to the desktop. SonicWALL UTM solutions offer businesses comprehensive multi-layered protection with gateway anti-virus, gateway intrusion prevention, firewall, anti-spam, and content filtering.
"Customers where we have deployed SonicWALL's UTM solutions have seen a significant decrease in losses due to viruses, spyware and other malicious activity," said Mike Johnson of Cerdant. "In addition, they have seen increases in productivity due to the additional content management features. The new DPI engine has resulted in a tremendous improvement in performance. It has allowed our customers greater flexibility in deciding how and where it is deployed while maintaining their budget objectives."
The new RFDPI 8 engine features:
-- Universal security engine and signature language designed to protect
all network protocols, malware and content inspection
-- High performance engine that scales from single core to multi-core
processors
-- Ability to support any platform memory size without limitation of flow
size (content length/size) or number of concurrent connections and no
restriction or limit on numbers of flows protected
For more information please visit: http://www.sonicwall.com/.
About SonicWALL, Inc.
SonicWALL is committed to improving the performance and productivity of businesses of all sizes by engineering the cost and complexity out of running a secure network. Over one million SonicWALL appliances have been shipped through its global network of ten thousand channel partners to keep tens of millions of worldwide business computer users safe and in control of their data. SonicWALL's award-winning solutions include network security, secure remote access, content security, backup and recovery, and policy and management technology. For more information, visit the company web site at http://www.sonicwall.com/.
Safe Harbor Regarding Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements include but are not limited to statements regarding the benefits associated with the RFDPI 8 engine and SonicWALL UTM solutions generally and the ability of our solutions to allow administrators to inspect network traffic while maintaining the flow of information. These forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. In addition, please see the "Risk Factors" described in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2006, for a more detailed description of the risks facing our business. All forward-looking statements included in this release are based upon information available to SonicWALL as of the date of the release, and we assume no obligation to update any such forward-looking statement.
NOTE: SonicWALL is a registered trademark of SonicWALL, Inc. Other product and company names mentioned herein may be trademarks and/or registered trademarks of their respective companies.
SonicWALL, Inc.
CONTACT: Colleen Nichols of SonicWALL, Inc., +1-408-962-6131, cnichols@sonicwall.com; or Ben White of Bite Communications, +1-415-365-0392, ben.white@bitepr.com, for SonicWALL, Inc.
Web site: http://www.sonicwall.com/
China Fire & Security Group Wins New Contracts With Datang International Totaling $4.7 Million
BEIJING, April 30 /Xinhua-PRNewswire-FirstCall/ -- China Fire & Security Group, Inc. ("China Fire" or "the Company"), a leading industrial fire protection products and solutions provider in China, announced today that the Company has won contracts for five regional power plants of Datang International Power Generation Co. Ltd. ("Datang International"). The aggregate contract value is approximately $4.7 million.
Datang International, headquartered in Beijing, is one of the largest power generation companies in China with annual power output of 118 billion kilowatt-hours in 2007.
China Fire will serve as a product provider with total contract value of approximately $3.7 million for four power plants of Datang International, located in Jinzhou of Liaoning province, Chaozhou of Guandong province, Ningde of Fujian province and Lvsi of Jiangsu province. The contracts call for China Fire to provide products including the Company's linear heat detectors, automatic fire-alarm monitoring and control systems, water mist fire- extinguishing system and gas-based fire extinguishing system. Revenues from these projects will be recognized within the next 6 months.
China Fire will also serve as a total solution provider of fire protection system for Datang International in Pingwang of Shanxi province, valued at approximately $1 million. The Company will provide a turn-key fire protection system including detectors, automatic fire-alarm monitoring and control system, and various fire-extinguishing systems. The revenue from this project will be recognized over the next 15 months.
"Datang International has been our long-term customer in power generation industry. The recent contract wins demonstrate our continuous success in providing our superior products and services to our first tier clients. In addition to Datang International, we have also signed contracts with other power plants since the beginning of the year. With the recent snowstorm damage to the power plants in the southern China, the Chinese government has increased expenditure for building new power plants. As a leader in China industrial fire protection industry, we are well positioned to benefit from these opportunities," commented Mr. Brian Lin, CEO of China Fire.
About China Fire & Security Group, Inc.
China Fire & Security Group, Inc. , through its wholly owned subsidiaries, Sureland Industrial Fire Safety Limited ("Sureland") and Tianjin Tianxiao Fire Safety Equipment ("Tianxiao"), is a leading total solution provider of industrial fire protection systems in China. Leveraging on its proprietary technologies, China Fire is engaged primarily in the design, manufacture, sale and maintenance services of a broad product portfolio including detectors, controllers, and fire extinguishers. Via its nationwide direct sales force, China Fire has built a solid client base including major companies in the iron and steel, power generation and petrochemical industries throughout China. China Fire has a seasoned management team with strong focus on industrial standards and technologies. Currently, China Fire has 52 issued patents covering fire detection, system control and fire extinguishing technologies. Founded in 1995, China Fire is headquartered in Beijing with about 500 employees in more than 30 sales and project offices throughout China. Cautionary Statement Regarding Forward Looking Information
This presentation may contain forward-looking information about China Fire & Security Group, Inc. and its wholly owned subsidiary Sureland which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward- looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Fire & Security Groups' future performance, operations and products. This and other "Risk Factors" are contained in China Fire & Security Groups' public filings with the SEC.
For more information, please contact:
China Fire & Security Group, Inc.
Robert Yuan, Chief Accounting Officer
Tel: +86-10-84417848
Email: ir@chinafiresecurity.com
Web: http://www.chinafiresecurity.com/
China Fire & Security Group, Inc.
CONTACT: China Fire & Security Group, Inc. - Robert Yuan, Chief Accounting Officer, +86-10-84417848, or ir@chinafiresecurity.com
Web Site: http://www.chinafiresecurity.com/
Cisco and Nokia Gain Momentum in Mobile Unified CommunicationsMore Than 100 Customers in Commercial use and More Than 600 customers in Trials for Mobile Business Solution From Cisco and NokiaCisco and Nokia Have Certified More Than 95 Channels Partners on Combined Solution
SAN JOSE, California and ESPOO, Finland, April 30 /PRNewswire-FirstCall/ -- Cisco and Nokia today announced growing customer and partner acceptance of their combined mobile unified communications solution. The Mobile Business Solution from Cisco and Nokia extends the rich Cisco(R) Unified Internet Protocol (IP) Phone capabilities to Nokia Eseries smartphones over Cisco Unified Wireless Networks to offer users a seamless mobile experience in the enterprise environment and public cellular networks. The two companies also announced that they are beginning to deploy each other's mobile solutions. Cisco is beginning to deploy Nokia Eseries smartphones for its sales organization in the United States, Europe and Asia Pacific theaters, while Nokia will begin with Cisco Unified Wireless Network in its offices, labs, and manufacturing sites.
"We are a leading public research university producing more than $530 million in annual research, and we are a diverse community of people who thrive on innovation and collaboration," said Tom Magrini, assistant director of Network Services, University Information Technology Services (UITS), University of Arizona (UA), which will offer Nokia Eseries smartphones as a standard voice offering. "The solution from Cisco and Nokia allows the UA to take advantage of our campus-wide Cisco Unified Wireless Network to provide single-number reach while saving on cellular costs by routing calls through our Cisco Unified Communications Manager. With over 186 buildings across a 378-acre campus, a dual-mode cellular and WiFi solution allows UITS to deliver voice services to areas where cellular coverage is problematic. The solution from Cisco and Nokia is a major component of UA's future unified communications strategy and we view Nokia Eseries smartphones as a potential desktop phone replacement to enhance both mobility and productivity."
The Mobile Business Solution from Cisco and Nokia is currently being commercially deployed with more than 100 customers, including the city of Biel, Switzerland; the city of Maastrich, The Netherlands; Millipore, United States; Omicron, Austria; SESCAM, Spain; Tifco Hotels, Ireland; and University of Arizona, United States. Additionally the combined solution is in trials with more than 600 enterprise and small and medium-sized business customers.
The Mobile Business Solution from Cisco and Nokia is an IP-based Cisco Unified Communications solution, featuring Nokia's latest dual-mode business-optimized Eseries smartphones and Cisco Unified Wireless Network family of wireless LAN controllers and access points. The Cisco and Nokia combined mobile unified communication solution helps businesses improve productivity and efficiency across their enterprise and mobile workspaces by extending the rich set of communications features from the Cisco Unified Communications family of products to Nokia Eseries smartphones.
"Voice and data connectivity with best-in-class devices - that's what organizations want for their increasingly mobile employees and operations," said Tom Furlong, senior vice president, Services & Software, Nokia. "The combined number of large enterprises and small-medium businesses who have either deployed this solution or are trialing it - coupled with the distribution footprint that we have to bring this solution to the market - is testimony to its success and acceptance by our customers."
To meet the market demands for seamless mobile convergence solutions, more than 95 reseller partners have received dual certification from Cisco and Nokia on the combined mobile unified communication solution. Certified channel partners include Telindus, Computacenter, Dimension Data, E2E, Lutech NextiraOne Italia, Touchbase, and T-systems.
"By joining forces with Nokia and Cisco, Telindus now has the opportunity to extend desktop applications and security out to the mobile device, responding to customer demand," commented Mark Hutchinson, UK managing director at Telindus. "With unified communications, employees have the ability to be more efficient and increase their productivity whilst 'dead time' and costs are reduced."
To deliver a rich on-campus voice and data mobility experience, Cisco is currently in pilot with the Mobile Business Solution from Cisco and Nokia with 3,500 sales employees across the globe. Nokia has deployed the Cisco Unified Communication solution based on Cisco Unified Communications, Cisco Unified IP Phones and Cisco Unified Wireless Networks in several flagship stores around the world.
"Cisco and Nokia are committed to helping enhance the mobile workspace to give organizations more control, security and increased flexibility for mobile workspaces - at home, at work and on the move," said Rick McConnell, vice president and general manager of the Unified Communications business unit for Cisco. "Customers have the benefit of using the device of their choice to best suit their user experience needs - whether that's a wideband audio IP phone with rich color and XML services, or a business-optimized mobile device, or both - all on a robust network built for real-time communications."
About Cisco
Cisco is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com/. For ongoing news, visit http://newsroom.cisco.com/.
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.
Cisco, the Cisco logo and Cisco Systems are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.
http://www.nokia.com/
Nokia Corporation
CONTACT: Contact Information: Press Contact, Pamela Ferrill, Cisco, +1-408-527-9076, pamfe@cisco.com; Nokia, Americas Communications, +1-972-894-4573, communication.corp@nokia.com; Analyst Contact, Nicole Hall, Cisco, +1-408-853-7868, nzewe@cisco.com; Nokia Industry Analyst Relations, Industry.analyst@nokia.com; Investor Contact, Marilyn Mora, Cisco, +1-408-527-7452, marilmor@cisco.com
ECtel Expected to Strengthen IRM(TM) Market Position with Acquisition of Compwise's AssetsThe Deal, Valued at Approximately $1.3m., Will Increase ECtel's Ability to Address Revenue and Profit Margin Management for Communication Service Providers
ROSH HA'AYIN, Israel, April 30 /PRNewswire-FirstCall/ -- ECtel Ltd. , a leading provider of Integrated Revenue Management(TM) (IRM(TM)) solutions, announced today that it acquired substantially all assets of Israel-based Compwise, a provider of business analytic solutions for telecommunication operators, for approximately $1.3 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/FLTU015LOGO )
The acquisition is expected to expand and strengthen ECtel's market leading Integrated Revenue Management(TM) product suite, as well as expand its customer base. The acquisition is expected to be accretive to earnings.
Compwise's products provide innovative business intelligence solutions for telecommunications service providers. Their unique analytical approach enables operators to maximize tariff profitability, improve retention of profitable customers and detect revenue leakage.
ECtel will merge Compwise's products into ECtel's leading IRM(TM) platform, further enhancing the Company's offering as a one-stop revenue management solution. Under terms of the acquisition, ECtel will continue to provide revenue management services and support to Compwise's current clients, which include some of the leading and most well-known telecom service providers around the world.
"By incorporating Compwise's product offering, ECtel will further improve its ability to assist telcos with their revenue management efforts," said Itzik Weinstein, CEO of ECtel. "This transaction showcases our long-term commitment to provide our customers with the most innovative and complete revenue management solution available in the market today."
"The acquisition is well aligned with our long-term growth strategy, which focuses on solid execution, innovation and M&A activity," Weinstein added. "Compwise's products add a set of business intelligence capabilities that will enable the operator to address pricing and profitability, customer retention, marketing campaigns and rating & billing assurance."
About ECtel
ECtel is a leading global provider of Integrated Revenue Management(TM) (IRM(TM)) solutions for communications service providers. A pioneering market leader for nearly 20 years, ECtel offers carrier-grade solutions that enable wireline, wireless, converged and next generation operators to fully manage their revenue and cost processes. ECtel serves prominent Tier One operators, and has more than 100 implementations in over 50 countries worldwide. Established in 1990, ECtel maintains offices in the Americas and Europe. For more information, visit http://www.ectel.com/
Certain statements contained in this release contain forward-looking information with respect to benefits of the proposed acquisition, expectations that the acquisition will be accretive to ECtel's results and plans, projections or future performance and products of the Company, the occurrence of which involves certain risks and uncertainties, including, but not limited to, difficulties encountered in integrating the acquired business, approval of the transaction by the stockholders of Compwise, the satisfaction of closing conditions to the transaction, the risk that liabilities assumed in this acquisition will be greater than anticipated, the reoccurrence of sales to existing customers, the ability to recognize revenue in future periods as anticipated, the possible slow-down in expenditures by telecom operators, the unpredictability of the telecom market, product and market acceptance risks, ability to complete development and market introduction of new products, the impact of competitive pricing and offerings, fluctuations in quarterly and annual results of operations, dependence on several large customers, commercialization and technological difficulties, risks related to our operations in Israel and other risks detailed in the Company's annual report on Form 20-F and other filings with the Securities and Exchange Commission. ECtel undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Photo: http://www.newscom.com/cgi-bin/prnh/20010807/FLTU015LOGO
ECtel Ltd
CONTACT: Company Contacts: Michael Neumann, Senior Vice President and CFO, Renee Van-Oostveen, MarCom Manager, Tel: +972-3-9002115, Fax: +972-3-9002103, Email: mickeyne@ectel.com; ir@ectel.com. Media Contact: Ruder Finn Israel for ECtel, Matthew Krieger, Tel: +972-544-676-950, Email: matthew@ruderfinn.co.il. Investor Relations Contacts: GK Investor Relations for ECtel, Ehud Helft\Kenny Green, Tel: + 1-617-418-3096 \ + 1-646-201-9246, Email: info@gkir.com
ROFIN-SINAR Reports Results for Second Quarter Fiscal Year 2008
PLYMOUTH, Mich. and HAMBURG, Germany, April 30 /PRNewswire-FirstCall/ -- ROFIN-SINAR Technologies Inc. , one of the world's leading developers and manufacturers of high-performance laser beam sources and laser-based solutions, today announced results for its second fiscal quarter and six months ended March 31, 2008.
The Company reported solid second quarter results in terms of sales and order entry as well as gross profit. Net income was impacted by the first time consolidation of the Company's recent acquisition, which was closed at the end of January, and by the greater than anticipated weakening of the US-Dollar mainly against the Euro.
Net sales totaled $136.6 million for the second quarter ended March 31, 2008, a 18%, or $20.5 million increase over the comparable quarter of fiscal 2007. The impact of the weakening US-dollar, mainly against the Euro, resulted in an increase in net sales of $15.5 million in the second quarter. Gross profit totaled $60.7 million, or 44% of net sales, compared to $49.2 million, or 42% of net sales, in the same period of fiscal year 2007. Net income amounted to $10.8 million, or 8% of net sales, compared to $13.1 million, or 11% of net sales, in the same period last year. Diluted earnings per share equaled $0.35 for the quarter based upon 30.5 million weighted-average common shares outstanding, compared to diluted earnings per share of $0.41 based upon 31.7 million weighted-average common shares outstanding for the same period last fiscal year. The second quarter net income was negatively impacted by $0.6 million net loss contribution and $2.7 million intangibles amortization from the recent acquisition. In addition, the revaluation of certain foreign currency balance sheet items at March 31, 2008, resulted in unrealized exchange losses of $3.7 million.
SG&A increased by $6.0 million to $27.6 million, representing 20% of net sales. In addition, the amortization expense in the second quarter of fiscal year 2008 increased by $2.7 million over the comparable period last year to $3.7 million (3% of net sales) because of the recent acquisition. Also, net R&D expenses increased by $3.1 million to $10.2 million, representing 7% of net sales.
Compared to the second quarter in 2007, sales of laser products used for macro applications increased by 19% to $59.6 million, accounting for 43% of total sales. Sales of lasers for marking and micro applications increased by 12% to $62.4 million and represented 46% of total revenues. Sales for components increased 46% to $14.6 million and represented 11% of total revenues.
For the six months ended March 31, 2008, net sales totaled $271.3 million, an increase of $43.5 million or 19% over the comparable period in 2007. Net income for the six month period ended March 31, 2008, totaled $27.7 million, with diluted earnings per share of $0.90 based upon the weighted average of 30.9 million common shares outstanding.
On a geographical basis, net sales in North America in the first six months showed an increase of 6% and totaled $60.7 million (2007: $57.1 million). In Europe, net sales increased by 17% to $149.3 million (2007: $127.2 million) and in Asia net sales increased by 41% to $61.3 million (2007: $43.6 million).
Order entry for the second quarter was $143.9 million, which resulted in an record order backlog on March 31, 2008, of $147.2 million mainly for laser products.
The full text of the press release and further information including comprehensive financial data is available online at http://www.rofin.com/ -- Investor Relations -- Press Releases.
Contact: Katharina Manok
Gunther Braun
Rofin-Sinar
734-416-0206
- or -
011-49-40-733-63-256
ROFIN-SINAR Technologies Inc.
CONTACT: Katharina Manok or Gunther Braun, both of Rofin-Sinar, +1-734-416-0206, or +011-49-40-733-63-256
Web site: http://www.rofin.com/
ROFIN-SINAR Reports Results for Second Quarter Fiscal Year 2008
PLYMOUTH, Mich. and HAMBURG, Germany, April 30 /PRNewswire-FirstCall/ -- ROFIN-SINAR Technologies Inc. , one of the world's leading developers and manufacturers of high-performance laser beam sources and laser-based solutions, today announced results for its second fiscal quarter and six months ended March 31, 2008.
FINANCIAL HIGHLIGHTS
(dollars in thousands, except per share data)
Three months ended Six months ended
03/31/08 03/31/07 % Change 03/31/08 03/31/07 % Change
Net sales $136,600 $116,061 + 18% $271,289 $227,806 + 19%
Net income $10,779 $13,076 - 18% $27,675 $24,569 + 13%
Earnings per share
"Diluted" basis $0.35 $0.41 - 15% $0.90 $0.78 + 15%
The diluted earnings per share calculation reflects the stock split of December 5, 2007, and is based on the weighted-average shares outstanding and the potential dilution from common stock equivalents (stock options) for each period presented, which was 30.5 million and 31.7 million for each of the fiscal quarters and 30.9 million and 31.6 million for the six month period ending March 31, 2008 and 2007.
"We are pleased with our second quarter results in terms of sales and order entry as well as gross profit margin. Net income reflects the consolidation of our recent acquisition for the first time this quarter, which closed at the end of January, and the greater than anticipated weakening of the US-Dollar mainly against the Euro," commented Gunther Braun, CEO and President of RSTI. "Despite the effect of these factors to bottom-line results in the quarter, our record backlog combined with ongoing sales activities and focused efforts in the Asian markets should result in a successful fiscal year 2008."
FINANCIAL REVIEW
Second Quarter
Net sales totaled $136.6 million for the second quarter ended March 31, 2008, an 18%, or $20.5 million increase over the comparable quarter of fiscal 2007. The impact of the weakening US-dollar, mainly against the Euro, resulted in an increase in net sales of $15.5 million in the second quarter. Gross profit totaled $60.7 million, or 44% of net sales, compared to $49.2 million, or 42% of net sales, in the same period of fiscal year 2007. Net income amounted to $10.8 million, or 8% of net sales, compared to $13.1 million, or 11% of net sales, in the same period last year. Diluted earnings per share equaled $0.35 for the quarter based upon 30.5 million weighted-average common shares outstanding, compared to diluted earnings per share of $0.41 based upon 31.7 million weighted-average common shares outstanding for the same period last fiscal year. The second quarter net income was negatively impacted by $0.6 million net loss contribution and $2.7 million intangibles amortization from the recent acquisition. In addition, the revaluation of certain foreign currency balance sheet items at March 31, 2008, resulted in unrealized exchange losses of $3.7 million.
SG&A increased by $6.0 million to $27.6 million, representing 20% of net sales. In addition, the amortization expense in the second quarter of fiscal year 2008 increased by $2.7 million over the comparable period last year to $3.7 million (3% of net sales) because of the recent acquisition. Also, net R&D expenses increased by $3.1 million to $10.2 million, representing 7% of net sales.
Compared to the second quarter in 2007, sales of laser products used for macro applications increased by 19% to $59.6 million, accounting for 43% of total sales. Sales of lasers for marking and micro applications increased by 12% to $62.4 million and represented 46% of total revenues. Sales for components increased 46% to $14.6 million and represented 11% of total revenues.
Six Months
For the six months ended March 31, 2008, net sales totaled $271.3 million, an increase of $43.5 million or 19% over the comparable period in 2007. The weakening of the US-Dollar, mainly against the Euro, resulted in an increase in net sales of $26.6 million in the six month period. Gross profit for the period was $119.3 million, $24.2 million higher than in 2007. Net income for the six month period ended March 31, 2008, totaled $27.7 million, with diluted earnings per share of $0.90 based upon the weighted average of 30.9 million common shares outstanding.
Net sales of lasers for macro applications increased by $26.9 million or 28% to $121.4 million and net sales of lasers for marking and micro applications increased by $11.8 million or 10% to $125.1 million. Sales of components increased by $4.8 million or 24% to $24.8 million from the comparable period in fiscal year 2007.
On a geographical basis, net sales in North America in the first six months showed an increase of 6% and totaled $60.7 million (2007: $57.1 million). In Europe, net sales increased by 17% to $149.3 million (2007: $127.2 million) and in Asia net sales increased by 41% to $61.3 million (2007: $43.6 million).
Order entry for the second quarter was $143.9 million, this resulted in an record order backlog on March 31, 2008, of $147.2 million mainly for laser products.
OUTLOOK
"While the demand for our lasers for Macro applications has softened due to the adverse macroeconomic conditions, our laser solutions for Marking and Micro applications should gain further momentum and continue to benefit from emerging industries such as photovoltaic or consumer electronics," commented Peter Wirth, Executive Chairman of the Board of RSTI. "Based on our backlog, which reached another record high, we are confident about the next quarter. In addition, our ongoing commitment to the Asian region should further enhance ROFIN's growth."
With operational headquarters in Plymouth, Michigan, and Hamburg, Germany, ROFIN-SINAR Technologies Inc. designs, develops, engineers and manufactures laser sources and laser-based system solutions for a wide range of applications. With production facilities in the US, Germany, UK, Sweden, Finland, Singapore and Japan, ROFIN-SINAR is one of the world's leading designers and manufacturers of industrial lasers and currently has more than 28,000 laser units installed worldwide and serves more than 3,000 customers. ROFIN-SINAR's shares trade on the NASDAQ Global Select Market under the symbol RSTI and are listed in Germany in the "Prime Standard" segment of the Frankfurt Stock Exchange under ISIN US7750431022. Additional information is available on ROFIN-SINAR's home page: http://www.rofin.com/ .
A conference call is scheduled for 11:00 AM EST, today, Wednesday, April 30, 2008. This call is also being broadcast live over the internet in listen-only mode. A replay of the webcast will be made available for approx. 90 days following the call. For a live webcast, please go to http://www.rofin.com/ at least 10 minutes prior to the call in order to download and install any necessary software. (For more information, please contact Reema Parikh at +1-212-889-4350 or Emilia Whitbread at +44(0) 207 614 2900).
ROFIN-SINAR TECHNOLOGIES INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(in thousands, except per share data)
Three months Six months
Ended Ended
(unaudited) (unaudited)
3/31/08 3/31/07 3/31/08 3/31/07
- Macro $59,617 $50,336 $121,426 $94,530
- Marking/Micro 62,335 55,731 125,098 113,285
- Components 14,648 9,994 24,765 19,991
Net Sales 136,600 116,061 271,289 227,806
Costs of goods sold 75,943 66,833 151,978 132,706
Gross profit 60,657 49,228 119,311 95,100
Selling, general and
administrative expenses 27,600 21,631 51,591 42,295
Intangibles amortization 3,689 969 4,646 1,895
Research and development
expenses 10,158 7,060 18,940 13,258
Income from operations 19,210 19,568 44,134 37,652
Other expenses (income) 2,400 (1,368) 2,136 (2,073)
Income before income tax and
minority interest 16,810 20,936 41,998 39,725
Income tax expense 5,928 7,672 14,029 14,757
Income before minority interest 10,882 13,264 27,969 24,968
Minority interest 103 188 294 399
Net income 10,779 13,076 27,675 24,569
Net income per common share
*"diluted" basis $0.35 $0.41 $0.90 $0.78
**"basic" basis $0.36 $0.42 $0.92 $0.80
* The diluted earnings per share calculation reflects the stock split of
December 5, 2007, and is based on the weighted-average shares
outstanding and the potential dilution from common stock equivalents
(stock options) for each period presented, which was 30.5 million and
31.7 million for each of the fiscal quarters and 30.9 million and 31.6
million for the six month periods ending March 31, 2008 and 2007.
** The basic net income per common share calculation is based on the
weighted-average shares outstanding for each period presented, which
was 29.7 million and 30.9 million for the fiscal quarters ending
March 31, 2008 and 2007, and 30.2 million and 30.9 million for the six
month periods.
ROFIN-SINAR TECHNOLOGIES INC.
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
At At
03/31/08 9/30/07
ASSETS
Cash, cash equivalents and short-term
investments $127,058 $228,209
Trade accounts receivable, net 108,485 103,660
Inventories net 172,090 135,806
Other current assets 22,267 19,561
Total current assets 429,900 487,236
Net property and equipment 59,474 43,843
Other non-current assets 119,276 95,145
Total non-current assets 178,750 138,988
Total assets $608,650 $626,224
LIABILITIES AND STOCKHOLDERS' EQUITY
Short-term debt 29,632 27,952
Accounts payable, trade 28,131 18,197
Other current liabilities 85,235 96,179
Total current liabilities 142,998 142,328
Long-term debt 6,851 12,639
Other non-current liabilities 22,241 22,334
Total liabilities 172,090 177,301
Net stockholders' equity 436,560 448,923
Total liabilities and stockholders' equity $608,650 $626,224
The Company's conference call will include discussions relative to the current quarter results and some comments regarding forward-looking guidance on future operating performance.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act.
Certain information in this press release that relates to future plans, events or performance, including statements such as our record backlog combined with ongoing sales activities and focused efforts in the Asian markets should result in a successful fiscal year 2008, or our laser solutions for Marking and Micro applications should gain further momentum and continue to benefit from emerging industries such as photovoltaic or consumer electronics, or based on our backlog we are confident about the next quarter, or our ongoing commitment to the Asian region should further enhance ROFIN's growth is forward-looking and is subject to important risks and uncertainties that could cause actual results to differ. Actual results could differ materially based on numerous factors, including currency risk, competition, risk relating to sales growth in CO2, diode, and solid-state lasers, cyclicality, conflicting patents and other intellectual property rights of fourth parties, potential infringement claims and future capital requirements, as well as other factors set fourth in our annual report on form 10-K. These forward-looking statements represent the Company's best judgment as of the date of this release based in part on preliminary information and certain assumptions which management believes to be reasonable. The Company disclaims any obligation to update these forward-looking statements.
Contact: Katharina Manok
Gunther Braun
Rofin-Sinar
734-416-0206
- or -
011-49-40-733-63-256
ROFIN-SINAR Technologies Inc.
CONTACT: Katharina Manok, +1-734-416-0206 or Gunther Braun, +011-49-40-733-63-256, both of Rofin-Sinar
Web site: http://www.rofin.com/
Verizon to Invest $86 Million to Expand Network in Rhode Island in 2008Company to Offer Revolutionary Fiber Network, FiOS TV and High-Speed Internet Services in More Communities; Hire 50 More Employees
PROVIDENCE, R.I., April 30 /PRNewswire/ -- Consumers in Rhode Island can expect to see Verizon's exciting new FiOS TV services and faster High Speed Internet services in more places this year.
Verizon Wednesday (April 30) announced a major capital investment of approximately $86 million in new network technology for Rhode Island in 2008. The plan extends Verizon's revolutionary new FiOS TV service to an additional 10 communities and expands its Providence-based Fiber Solutions Center, where at least 50 more union-represented technicians and customer service representatives will be hired. A total of 350 new jobs have been created since the center opened in 2006.
The company also will upgrade its Verizon High Speed Internet Service, based on DSL technology, to eight communities in the Ocean State: Cranston, Hope Valley, Jamestown, Narragansett, Pawtucket, Providence, Tiverton and Weekapaug.
The new service, featuring download speeds of up to 7 megabits per second, more than doubles the speed of Verizon's current highest speed DSL offering and is designed to leapfrog speeds offered by cable companies.
Earlier this year, Verizon Wireless announced that it spent $292 million to upgrade its New England voice and data networks and hired more than 500 employees in the region in 2007. With this investment, every Verizon Wireless cell site in New England offers wireless broadband connectivity.
Expanding the revolutionary All-Fiber Network
In Rhode Island, FiOS TV is currently available in Coventry, Cranston, East Greenwich, Exeter, Foster, Hopkinton, Johnston, Narragansett, North Kingstown, North Providence, Providence, South Kingstown, Warwick, West Greenwich, and West Warwick. The company also has approval to offer the service in Charlestown, Richmond, Scituate and Westerly and is seeking licenses to offer FiOS TV in Burrillville, Central Falls, Cumberland, East Providence, Glocester, Lincoln, North Smithfield, Pawtucket, Smithfield and Woonsocket. By the end of this year, Verizon expects to offer FiOS TV in all 29 of these communities, reaching an estimated 80 percent of Rhode Island households and businesses.
Donna Cupelo, Verizon region president for Massachusetts and Rhode Island, credited the state's political leadership for "being willing partners in economic development" by focusing on fostering competition and capital investment.
The company will work with Gov. Donald L. Carcieri's administration and state legislators to explore ways to leverage new investments in Verizon's revolutionary fiber-to-the-home network into expanded coverage throughout the state.
"With this capital investment plan we are making a major commitment to our customers and our employees in Rhode Island," Cupelo said. "We believe the time and the climate are right for growing our investments and expanding our technology deployment. We will continue to make significant investments in the Ocean State to expand our world-class network and deliver the innovative and reliable services that Rhode Island residents and businesses have come to expect."
Bill McGowan, business manager for IBEW Local 2323, which represents Verizon workers in Rhode Island, said, "We have the best technology and workforce to deliver broadband and cutting-edge cable TV services to customers across Rhode Island. We've demonstrated we can compete and win over customers with our people and our services."
In the past year, Verizon has brought new competition to the cable TV market in Rhode Island as it expands and upgrades its network, which carries the company's FiOS TV, FiOS Internet and phone services over new fiber-optic connections directly to homes.
Cupelo said that while competition for phone, super-fast Internet and cable TV service in Rhode Island is at an all-time high, customer interest in Verizon's triple-play and quadruple-play (phone, TV, Internet and wireless) bundles continues to rise.
Said Cupelo, "Our customers appreciate the reliability of our networks; they trust in the company; and they want the convenience of obtaining all of these services from us in a package that's priced competitively. Rhode Island continues to be an important market for us, and we will continue to serve it well."
Verizon's continued investment in its networks and increasing deployment of broadband and TV services "has created a robust marketplace in Rhode Island that has resulted in the development of innovative new technologies, competitive pricing, and a sharpened focus on customer service, all of which bodes well for Rhode Island consumers and the state's economy," Cupelo said.
FiOS TV, provided over the nation's most advanced all-digital, fiber-optic network straight to customers' homes, has become Verizon's flagship product. It offers a better-quality picture, plus a wide variety of high-definition and on-demand programs, and more reliable service at competitive prices.
Introduced in Rhode Island last June, FiOS TV is now available to more than 170,000 households. When the service expands to the new communities this year, it will be available to more than 350,000 households -- more than double the current total.
"There is tremendous customer demand for the service," said Cupelo. "FiOS TV customers rave about it and are telling their family and friends to get it. It's a must-have. We are trying to make it available to as many customers as we can, as quickly as we can."
In addition to FiOS TV, Verizon's fiber network also allows the company to offer consumers and businesses high-speed FiOS Internet service, the fastest in the marketplace, at download speeds up to 50 Mbps (megabits per second) and upload speeds up to 20 Mbps.*
* NOTE: actual (throughput) speeds will vary.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Lillian McGee, +1-401-525-2134, lillian.m.mcgee@verizon.com; or Phil Santoro, +1-617-743-4760, philip.g.santoro@verizon.com
Web site: http://www.verizon.com/ http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/094251.html
CACI Chairman Dr. J.P. (Jack) London and Chief Financial Officer Thomas Mutryn Honored by Association for Corporate GrowthLondon Receives Lifetime Achievement Award for Contributions to Regional Growth; Mutryn Named Corporate Executive Dealmaker of the Year
ARLINGTON, Va., April 30 /PRNewswire-FirstCall/ -- CACI International Inc announced today that CACI Executive Chairman and Chairman of the Board Dr. J.P. (Jack) London and Chief Financial Officer, Executive Vice President, and Treasurer Thomas A. Mutryn have been honored by the Association for Corporate Growth (ACG) National Capital chapter. Dr. London was presented with the ACG National Capital Lifetime Achievement Award and Mr. Mutryn was named Corporate Executive Dealmaker of the Year. They accepted the awards at the ACG gala at the Ritz Carlton hotel in Tysons Corner, Virginia on April 24, 2008. The awards honor both CACI's business success and Dr. London's contribution to the growth of the region's information technology (IT) sector as a key asset for increased government efficiency and enhanced national security.
Dr. London's Lifetime Achievement Award recognizes his achievement in growing CACI from a small consulting firm into a worldwide professional services and IT company serving vital national needs. A market visionary, Dr. London was the architect of CACI strategies that continually positioned the company for growth in rapidly changing business climates, while also helping to expand the region's IT capabilities. London's creation and leadership of a robust mergers and acquisition (M&A) program brought 38 acquisitions to CACI, strengthening the company's capabilities in managed networks and integrated security and intelligence solutions, and helping to grow revenue of $1.6 million in 1972, the year London joined CACI, to well over $2 billion in revenue today.
As Corporate Executive Dealmaker of the Year, Tom Mutryn was honored for his superior financial accomplishments and his key role in CACI's successful M&A program. This includes Mr. Mutryn's vision and success in the structuring and sale of $300 million in convertible senior subordinated notes that provided CACI with additional financial flexibility to pursue its M&A program. It also includes Mr. Mutryn's leadership role in completing four CACI acquisitions in 2007: the Institute for Quality Management, Wexford Group International, Dragon Development Corporation, and Athena Innovative Solutions.
Commenting on his award, Dr. London said, "On behalf of everyone at CACI, I am honored to receive this recognition. In being a member of the national capital area's information technology industry, and in serving our company as CEO for 23 years, and for more than 36 years overall, I have been privileged to work with some of the finest professionals in our business -- talented men and women united in delivering quality service and best value to clients who support the nation's highest priorities."
Tom Mutryn said, "I am delighted to accept this award, and thank everyone on our M&A and Finance teams for their excellent support and contributions. CACI's growth goals remain firmly fixed on increasing the services and solutions we offer to help clients complete their critical missions. I am grateful to play a role in this dedicated effort to meet our country's vital goals and to provide increasing value to our shareholders."
According to CACI President and CEO Paul Cofoni, "Jack London and Tom Mutryn have made exceptional contributions to CACI's growth, and the growth of the region's information technology industry as a critical resource for our federal government. With more than 11,800 dedicated individuals serving clients worldwide, CACI continues to expand our service as a national asset for national missions. We proudly support our nation with honesty, excellence, and ethics, and provide solutions with the greatest value in helping our clients improve government services and defeat global terrorism."
ACG is the premier global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions, and ACG National Capital is the leading authority on corporate growth in the mid-Atlantic region.
CACI International Inc provides the IT and network solutions needed to prevail in today's new era of national security, intelligence, and e-government. From systems integration and managed network solutions to knowledge management, engineering, simulation, and information assurance, we deliver the IT applications and infrastructures our federal customers use to improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. Our solutions lead the transformation of national security and intelligence, assure homeland security, enhance decision-making, and help government to work smarter, faster, and more responsively. CACI is a member of the Fortune 1000 Largest Companies of 2007 and the Russell 2000 index. CACI provides dynamic careers for approximately 11,800 employees working in over 120 offices in the U.S. and Europe. CACI is the IT provider for a networked world. Visit CACI on the web at http://www.caci.com/.
There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the following: regional and national economic conditions in the United States and the United Kingdom, including conditions that result from terrorist activities or war; failure to achieve contract awards in connection with recompetes for present business and/or competition for new business; the risks and uncertainties associated with client interest in and purchases of new products and/or services; continued funding of U.S. Government or other public sector projects in the event of a priority need for funds, such as homeland security, the war on terrorism or rebuilding Iraq; government contract procurement (such as bid protest, small business set asides, etc.) and termination risks; the results of government investigations into allegations of improper actions related to the provision of services in support of U.S. military operations in Iraq; individual business decisions of our clients; paradigm shifts in technology; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); material changes in laws or regulations applicable to our businesses, particularly in connection with (i) government contracts for services, (ii) outsourcing of activities that have been performed by the government, and (iii) competition for task orders under Government Wide Acquisition Contracts ("GWACs") and/or schedule contracts with the General Services Administration; our own ability to achieve the objectives of near term or long range business plans; and other risks described in the company's Securities and Exchange Commission filings.
For investor information contact:
David Dragics, Senior Vice President, Investor Relations
(866) 606-3471, ddragics@caci.com
For other information contact:
Jody Brown, Executive Vice President, Public Relations
(703) 841-7801, jbrown@caci.com
CACI International Inc
CONTACT: Investors: David Dragics, Senior Vice President, Investor Relations, +1-866-606-3471, ddragics@caci.com, or Jody Brown, Executive Vice President, Public Relations, +1-703-841-7801, jbrown@caci.com, both of CACI International Inc
Web site: http://www.caci.com/
ProLink GPS Now in Play at Stunning Oak Quarry Golf ClubStar Southern California Course Aids Players, Collects Ad Revenue
CHANDLER, Ariz., April 30 /PRNewswire-FirstCall/ -- ProLink Solutions, a wholly-owned subsidiary of ProLink Holdings Corp. (BULLETIN BOARD: PLKH) and the world's leading provider of Global Positioning Satellite ("GPS") golf course management systems and digital out-of-home on-course advertising, today announced that Oak Quarry Golf Club (Riverside, Calif.) now features the ProLink Solutions GPS system used at many of the world's most famous golf courses and plans to participate in ProLink's exclusive national advertising opportunity.
Oak Quarry Golf Club has been ranked the No. 1 course in golf-rich Inland Southern California for its amazing scenery, dramatic elevation changes and strategic values. The course was designed by PGA and Champions Tour stalwart Gil Morgan with the renowned team of Schmidt-Curley Design, who routed it through historic Jensen Quarry. The much-photographed 14th hole requires a carry over the quarry to a peninsula green and is routinely rated among the region's best par 3s.
"The ProLink system is a big boost to our golfers, who will appreciate having precise yardages and realistic hole depictions close at hand," said Hank Schiller, General Manager at Oak Quarry. "The system has numerous benefits for the course as well. We expect the food-and-beverage and tournament-scoring functions and the advertising program to provide an excellent return on our investment."
"Oak Quarry is truly one of Southern California's must-play courses, and we are proud to call the club a trusted partner," said Lawrence D. Bain, CEO of ProLink Solutions. "Golfers at upscale courses now expect to see ProLink GPS on their carts, while course operators consider our system a necessity for management and revenue generation. ProLink's unparalleled ability to reach high-end consumers viewing our screens makes us an integral element of comprehensive advertising campaigns."
With ProLink's patented, 10.4" high-resolution color screen -- the industry's largest -- Oak Quarry's cart-mounted units display dynamic, easy-to-read graphics including distances to the pin and hazards, pro tips, pace-of-play timer and radial arc for cart-path-only holes. Golfers at Oak Quarry will also be able to order food and beverage items with a touch of a button on the ProLink screen.
For more information on Oak Quarry Golf Club, visit http://www.oakquarry.com/ or call 951.685.1440.
About ProLink
ProLink Solutions is the world's leading provider of GPS golf course management systems and revenue-generating on-course advertising. ProLink Solutions' core philosophy is to be a "Trusted Partner" to its golf-course customers. From enhancing golfers' overall experience and improving pace-of- play, to increasing current revenue streams and creating new profit centers for golf courses, ProLink Solutions' products and services have captured markets both nationally and globally. For more information about ProLink, visit http://www.goprolink.com/, call 480.753.2337 or email info@goprolink.com.
CONTACT:
Daniel Mitchell
Buffalo Communications
253.312.4536
dmitchell@billycaspergolf.com
Investor Relations Contact:
CEOcast, Inc.
Gary Nash
212.732.4300
gnash@ceocast.com
ProLink Holdings Corp.
CONTACT: Daniel Mitchell of Buffalo Communications, +1-253-312-4536, dmitchell@billycaspergolf.com; or Investor Relations, Gary Nash of CEOcast, Inc., +1-212-732-4300, gnash@ceocast.com, both for ProLink Holdings Corp.
Web site: http://www.goprolink.com/
China Display Technologies Appoints New CFO
SHENZHEN, China, April 30 /Xinhua-PRNewswire-FirstCall/ -- China Display Technologies, Inc. (BULLETIN BOARD: CDYT) (''China Display'', or ''the Company''), a leading manufacturer of optoelectronic products, specializing in small- to mid-sized LED and CCFL backlight units for LCD displays in China, today announced the appointment of Mr. Jason Ye as its Chief Financial Officer. Mr. Ye replaced the previous CFO, Mr. Kam Ming Yip, who left to pursue other interests.
Mr. Jason Ye has served as the Company's Finance Manager since October 2007. Prior to joining China Display, he acted as the financial advisor for several foreign capital corporations and Hong Kong exchange listed banking companies. From 2003 to 2004, he was Senior Client Manager in the Credit Department of China Minsheng Banking Co., Ltd. Shenzhen Xiangmi Sub-Branch. Mr. Ye holds a Bachelor's degree in International Finance from South China Normal University.
''I am honored to be a part of China Display during this time of rapid growth and strong performance,'' commented Mr. Ye. ''I look forward to adding my experience and expertise to an already impressive management team.''
''After his previous service with us, we are pleased to promote Jason Ye to the CFO position,'' commented Mr. Lawrence Chan, CEO of China Display. ''His in-depth accounting experience enhances our finance, operations and business strategies and continues to make him a valuable part of our team.''
About China Display Technologies, Inc.
China Display Technologies, Inc. through its wholly-owned subsidiary Suny Electronics (Shenzhen) Company Limited (''SUNY'') in China, designs, manufactures and markets small- to mid-sized Light Emitting Diode (LED) and Cold Cathode Fluorescent Lamp (CCFL) backlights for various types of Liquid Crystal Displays (LCDs). Its products have applications in electronic consumer products, such as mobile phones, PDAs, GPS systems, portable DVD/VCD players, MP3s and MP4s, medical equipment and household appliances with displays. SUNY was organized in November 2004 and started operations in 2005. It has experienced rapid growth and became a publicly-traded company, listed on the OTC market, through a reverse merger in September 2007. The Company has 800 employees, with manufacturing facilities and management located in Shenzhen, China.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Jason Wong
Executive Vice President
China Display Technologies, Inc.
Tel: +852-9257-8928
Email: jason@suny.hk
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
China Display Technologies, Inc.
CONTACT: Mr. Jason Wong, Executive Vice President of China Display Technologies, Inc., +852-9257-8928, or jason@suny.hk; or Investor Relations Contact, Mr. Crocker Coulson, President of CCG Elite Investor Relations, +1- 646-213-1915 (NY office), or crocker.coulson@ccgir.com, for China Display
China Education Alliance Launches New Corporate and Investor Relations Website
HARBIN, Heilongjiang, China, April 30 /Xinhua-PRNewswire-FirstCall/ -- China Education Alliance, Inc. (BULLETIN BOARD: CEUA) ("China Education Alliance" or "the Company"), a leading distributor of educational resources, offering high-quality programs and training both through online networks and an on-site training center in China, today announced that it has launched a new corporate and investor relations website under the domain name of http://www.chinaeducationalliance.com/ .
The new website provides key information on China Education Alliance, including a corporate overview, description of products and services, management team and board of directors, corporate news, and important investor information such as access to SEC filings, investor presentations and events calendar. The website enhances the Company's corporate branding efforts and strengthens communications with investors, customers and business partners.
"We believe the launch of this website is an important step to present us to customers and the investment community," commented Mr. Xiqun Yu, Chairman and CEO of China Education Alliance. "As a U.S. publicly-traded company, the site will help us to deliver on our commitment of enhancing transparency and visibility in the marketplace."
About China Education Alliance, Inc.
The Company is an educational resource company offering high-quality educational programs and training through both online networks and an on-site training center. The Company's products include online test preparation materials, researchers' materials, study guides, and audio recordings, vocational training services and vocational certifications. The Company conducts educational services through three main channels: a large educational online portal, educational software and media, and education and vocational training centers. The Company is currently selling educational products and services to families, provincial education officials, administrators, schools and teachers in China.
Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our ability to prepare the company for growth, the Company's planned expansion in 2008 and predictions and guidance relating to the Company's future financial performance. We have based these forward- looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs and are not a guarantee of future performance but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the education industry, pricing and demand trends for the Company's products, changes to government regulations, risk associated with operation of the Company's new facilities, risk associated with large scale implementation of the company's business plan, the ability to attract new customers, ability to increase its product's applications, cost of raw materials, downturns in the Chinese economy, the adoption by consumers of its new game business, the unproven advertising model that is dependent on attracting a large game user base, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. Investors are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release, readers are cautioned not to place undue reliance on any of them and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
For more information, please contact:
Company Contact:
Mr. Xiqun Yu
Chairman and CEO
China Education Alliance, Inc.
Tel: +86-451-8233-5794
Email: yxq@edu-chn.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
China Education Alliance, Inc.
CONTACT: Company Contact: Mr. Xiqun Yu, Chairman and CEO of China Education Alliance, Inc., +86-451-8233-5794, or yxq@edu-chn.com; Or Investor Relations Contact: Mr. Crocker Coulson, President of CCG Elite Investor Relations, +1-646-213-1915 (NY Office), or crocker.coulson@ccgir.com
Web site: http://www.chinaeducationalliance.com/
CCID Consulting: China's Communication Equipment Manufacturers' Global Expansion Entered a New Stage
BEIJING, April 30 /Xinhua-PRNewswire/ -- CCID Consulting, China's leading research, consulting and IT outsourcing service provider, and the first Chinese consulting firm listed in Hong Kong (Hong Kong Stock Exchange: HK08235), recently released through its Communications Industry Research Center, an article on the global development trend of China's communication equipment manufacturers.
Global wireless communications users reached three billion in 2007, with rapid growth in both 2G and 3G fields. The growth constitutes a steady growth in the equipment's market, and provides a stable environment to the development of value-added service.
In the global wireless communications market, the major equipment providers are ZTE, Huawei, Ericsson, Nokia Siemens Networks, Nortel, Alcatel- Lucent and Motorola. Compared with foreign manufacturers, China's manufacturers tend to provide the complete set of equipments: Huawei and ZTE provides not only GSM equipments, WCDMA equipments, but also CDMA equipments, CDMA 2000 equipments and TD-SCDMA equipments, which cover 2G, 2.5G and 3G fields.
The global expansion of Chinese manufacturers remain steady for the last ten years. In global wireless communications market, Huawei has excellent presentation in G network and C network, and has become one of the most important global important wireless communications equipment providers. After many years' effort, on the premise of consolidating CDMA's advantage position, ZTE joins in global GSM equipment suppliers, whose GSM equipments serve global 60 carriers in fifty countries and its network scale exceeding 150 million lines. Meanwhile, its WCDMA equipments have successfully penetrated into the European market and realize that its income in overseas market has exceeded that of its domestic market in 2007.
With breakthroughs in overseas market, China's manufacturers' global expansion has entered a new stage. No longer relying on low cost as the major advantage, their incomes now come from a variety of markets including Asian, African and Latin American markets. They begin to focus on high-end fields. They compete with BT, France Telecom, Deutsche Telecom AG and KPN in South Europe. ZTE's MTO stands for the direction of this change. A key expansion market being Europe, with transnational carriers playing a breakthrough role. Therefore, CCID Consulting considers that China's communications equipment manufacturers have entered the new stage.
Facing a new competitive environment, China's communications equipment manufacturers are facing more and more challenges and pressures. In the European market, the competitive focuses are not only product and price, but also the comprehensive strength, which includes service ability, networking capability, response ability, elasticity to master the development trend of communications market and guiding ability to customers. Only China's manufacturers could live through the competitions in this high-end market, can they become the first-class communications equipment suppliers.
About CCID Consulting
CCID Consulting Co., Ltd. (hereinafter known as "CCID Consulting"), the first Chinese consulting firm listed in the Growth Enterprise Market of the Stock Exchange (GEM) of Hong Kong (stock code: HK08235), is directly affiliated to the China Center for Information Industry Development (hereinafter known as "CCID Group"). Headquartered in Beijing, CCID Consulting has set up branch offices in Shanghai, Guangzhou, Shenzhen, and Harbin, with over 300 professional consultants and industry experts. The company's business covers over 200 large and medium-sized cities in China. Apart from home market development, CCID Consulting establishes international cooperation links across the United States, the Asia-Pacific region and Europe with agents in the U.S., Japan, South Korea, Australia, Singapore, Italy and Russia, with the aim of going global.
Based on four major competitive areas: powerful data channels, industrial resources, intense knowledge and a deep understanding of information technology, CCID Consulting provides customers with consulting, research and IT outsourcing services covering strategic planning, IT applications, marketing strategies, human resources and information technology outsourcing. Customers range from industrial IT users, telecommunications companies, energy companies, finance companies, and automobile companies, to government departments at all levels and diversified industrial parks. CCID Consulting commits itself to be the number 1 consultant in strategy consulting, the number 1 advisor for enterprise management and the number 1 consultant for government decision-making.
For more information, please contact:
Cynthia Liu
Coordinating Manager
CCID Consulting Co., Ltd.
Tel: +86-10-8855-9080
Email: liuyan@ccidconsulting.com
CCID Consulting Co., Ltd.
CONTACT: Cynthia Liu, Coordinating Manager of CCID Consulting Co., Ltd., +86-10-8855-9080, or liuyan@ccidconsulting.com
Darby Bank & Trust Lowers Communications Costs and Enhances Customer Service with ShoreTel Unified CommunicationsEasy-to-manage distributed unified communications solution reduces maintenance costs and long distance charges, and lets operators handle calls more efficiently
SUNNYVALE, Calif., April 30 /PRNewswire-FirstCall/ -- ShoreTel(R), Inc. , a leading provider of Pure IP Unified Communications solutions, today reported on the deployment of a ShoreTel distributed unified communications solution at Darby Bank & Trust Company headquartered in Vidalia, Georgia. With ShoreTel, Darby Bank is saving between $2,500 and $3,000 each month in long distance charges while eliminating costly truck rolls for moves, adds, and changes, which can now be done easily by a network administrator. With ShoreTel's UC solution, operators can handle incoming calls more quickly and efficiently, significantly enhancing customer service and the bank's employees are more productive, thanks to easy access to telephone numbers and desktop integration features.
In operation since 1927, Darby Bank serves Toombs and Chatham Counties and surrounding areas in Georgia through 10 locations -- seven branches and mortgage, loan administration and operations offices. Recognizing the bank's existing PBX telephone system was outdated and at maximum capacity, the bank looked at IP-based solutions from ShoreTel, Avaya and Cisco. Based on demonstrations and customer references, Darby Bank chose ShoreTel and its reseller partner CNP Technologies.
"With ShoreTel, we didn't need to overhaul the network, like with Cisco," said Shan Venable, vice president and technology manager at Darby Bank. "And managing the system is easy. We don't have engineers on staff to dedicate to a complex telephone system, but with other solutions, that's what you need. ShoreTel also blew away the rest when it came to features for both users and administrators."
Darby Bank has deployed more than 160 ShorePhone(R) IP 530 telephones and 13 ShoreGear(R) voice switches. Three of the switches are ShoreGear T1 voice switches, which provide a T1 interface for high-density trunking to support Primary Rate Interface (PRI) signaling. Today, Darby Bank employees at all the branches are on the same phone and voicemail system, using 4-digit dialing to reach employees at any branch and dialing co-workers by name. The least-cost routing capabilities allow the bank to minimize costs by avoiding toll charges.
ShoreTel's rich features, including Microsoft Outlook(R) integration, desktop dialing from online directories, and contact screen pops, are so easy to use, the system has created raving fans. Said Venable, "Everybody has learned it quickly and effortlessly, and you'd never be able to pry the ShorePhone IP telephones out of their hands now." ShoreTel's ShoreWare(R) Operator Call Manager has also improved customer service. Before answering a call, operators can see a call-routing log and employee availability, allowing them to provide far more personalized service.
"In the current economic climate, we believe that financial institutions are particularly interested in leveraging their investments in technology to improve employee productivity and drive further cost savings," said Steve Timmerman, vice president of marketing at ShoreTel. "As Darby Bank has discovered, ShoreTel's distributed unified communications solution is a cost-effective way to use the data network for voice communications, reducing long distance charges and maintenance costs, while providing unmatched features for helping employees be more productive and collaborate more effectively with their colleagues."
About ShoreTel, Inc.
ShoreTel, Inc., is a leading provider of Pure IP Unified Communications solutions. ShoreTel enables companies of any size to seamlessly integrate all communications -- voice, video, messaging and data -- with their business processes. Independent of device or location, ShoreTel's distributed software architecture eliminates the traditional costs, complexity and reliability issues typically associated with other solutions. ShoreTel continues to deliver the highest levels of customer satisfaction, ease of use and manageability while driving down the overall total cost of ownership. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in the United Kingdom, Sydney, Australia and Munich, Germany. For more information, visit http://www.shoretel.com/ or call 1-877-80SHORE.
Press Contacts:
Kim Rose
ShoreTel, Inc.
408-331-3357
krose@shoretel.com
ShoreTel, Inc.
CONTACT: Kim Rose of ShoreTel, Inc., +1-408-331-3357, krose@shoretel.com
Web site: http://www.shoretel.com/
Oracle Launches Siebel Personalized Content Delivery to Empower Life Sciences Companies With a Single Solution to Improve Sales and Marketing EffectivenessClosed Loop Marketing Solution Delivers Industry's First CRM and Detailing Platform
REDWOOD SHORES, Calif., April 30 /PRNewswire-FirstCall/ --
-- Today at its Pharmaceutical & Biotechnology Industry Forum 2008 in
Parsippany, NJ, Oracle announced the availability of Oracle's Siebel
Personalized Content Delivery, a comprehensive closed loop marketing
(CLM) solution that helps life sciences organizations plan, develop and
execute more effective customer communication strategies that deliver
increased value for customers.
-- In recent years, the annual rate of increase among physicians has
remained relatively flat while the number of pharmaceutical sales
representatives has grown considerably overall, even accounting for
recent reductions in field force sizes. As a result, detailing
effectiveness has waned in the face of a changing market and
physicians' increasingly busy schedules, forcing life sciences
organizations to transform their sales and marketing capabilities.
-- Siebel Personalized Content Delivery offers a powerful solution for
closing the loop at multiple levels using a customer-centric approach
that helps gather unique, actionable insight. The application makes it
easier for sales representatives to deliver high impact presentations
that are tailored to individual customer needs by leveraging multimedia
visualization content provided by marketing teams.
-- As a result, sales teams are better positioned to deliver the right
message to the right customer at the right time, helping to optimize
each selling opportunity and improve customer acquisition,
satisfaction, and retention.
-- Siebel Personalized Content Delivery leverages Siebel Life Sciences CRM
capabilities such as workflow, business rules and real-time decisioning
technology while offering superior marketing measurement through
cross-enterprise analytics.
-- Siebel Personalized Content Delivery is the industry's only solution
combining world-class CRM and closed loop marketing capabilities into a
single product. This reduces the need for duplicate infrastructure,
costly integration and ongoing maintenance of custom code.
Supporting Quotes
-- "Today's competitive environment is forcing life sciences organizations
to transform their commercial models and redefine sales and marketing
processes to maximize the value of every interaction with customers.
Siebel Personalized Content Delivery offers companies a complete closed
loop marketing solution to dramatically improve the quality of customer
interactions and help grow revenues and market share," said Rajan
Krishnan, Vice President, Product Strategy, Oracle Life Sciences.
-- "Interactive detailing is yielding positive results for the biopharmas
that have invested there. Personalizing content to be able to market to
a segment of one through multiple channels including face-to-face, Web
and kiosk will improve the impact because it broadens the delivery
capabilities while honing the message," said Dale Hagemeyer, Research
Vice President, Gartner.
Supporting Resources
Oracle Enhances Siebel CRM for Life Sciences:
http://www.oracle.com/corporate/press/2007_mar/sebl8-lifesciences.html
Siebel Life Sciences 8.0 Overview:
http://tiny.cc/JPHDS
Improving Pharmaceutical Marketing Effectiveness:
http://tiny.cc/lNe6R
Oracle Life Sciences Applications:
http://www.oracle.com/industries/life_sciences/index.html
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO)
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Oracle
CONTACT: Kevin Ruane, +1-650-506-6610, kevin.ruane@oracle.com, or Susie Penner, +1-650-506-1973, susanne.penner@oracle.com, both of Oracle
Web site: http://www.oracle.com/
The Brink's Company Reports Higher First-Quarter EarningsLatin American Operations and Brink's Home Security Unit Drive Strong Profit Growth
RICHMOND, Va., April 30 /PRNewswire-FirstCall/ -- The Brink's Company , a global leader in security-related services, reported first-quarter income from continuing operations of $48.0 million or $1.02 per share, up from $31.1 million or 66 cents per share in last year's first quarter.
First-quarter revenue was $920.6 million, up 24% (16% on a constant currency basis) from $740.5 million in the first quarter of 2007. Operating profit rose 51% to $97.3 million, up from $64.3 million last year and was driven mainly by strong profit growth at Brink's, Incorporated's Latin American operations and Brink's Home Security. The effect of changes in currency values on operating profit was insignificant.
This year's first-quarter results include approximately $35 million of additional revenue from one-time currency conversion operations, which are expected to decline sharply in the second quarter and be completed during the third quarter.
Corporate expense in the first quarter of 2008 includes approximately $6 million related to its strategic review, proxy matters and the initial steps supporting the planned execution of the previously announced spin-off of Brink's Home Security.
Michael T. Dan, chairman, president and chief executive officer of The Brink's Company, said: "Solid growth across the board in Latin America, including the temporary effects of the currency conversion project, and improvement in several European countries combined to sharply increase Brink's, Incorporated's profits in the recent quarter. Our focus for the rest of the year will be to maintain improvements in Europe and look for ways to combat tougher competitive environments and higher costs in our operations in the United States and France. Our full-year goal for this business in 2008 is to deliver organic revenue growth in the high-single-digit percentage range with an operating profit margin of approximately 9%."
"In a difficult housing market, Brink's Home Security once again achieved solid growth in revenue, operating profit, cash flow and subscribers. Despite current economic headwinds, we still expect Brink's Home Security to deliver 10% or better annual growth in revenue and operating profit while growing the subscriber base in the high-single-digit percentage range."
Business Unit Performance: First-Quarter 2008 Versus 2007
Brink's, Incorporated ("Brink's")
Brink's, the company's secure transportation and cash management unit, had first-quarter revenue of $792.8 million, up 27% (17% on a constant currency basis) from $625.8 million in the year-ago quarter. Operating profit rose 61% to $82.0 million, for a margin of 10.3%, up from $51.0 million last year and a margin of 8.1%. The increase in operating profit was due primarily to solid growth in Latin American operations, including the effect of temporarily higher volumes related to our support of customers during the currency conversion process. Due to inflationary pressures, especially those related to wage increases in Latin America, and less currency conversion work, the second-quarter 2008 operating profit margin is expected to be approximately 7%.
Capital expenditures during the quarter totaled $31.5 million. Capital spending at Brink's in 2008 is expected to be between $155 million and $165 million.
Brink's North America
First-quarter revenue in North America was $230.3 million, up 9% from $211.2 million last year. Operating profit was $13.4 million, down 27% from $18.3 million in the year-ago quarter due to higher costs for labor, transportation and selling activities and lower volumes in the higher-margin U.S. Global Services operations. The operating profit margin for the quarter was 5.8%, down from 8.7% in last year's first quarter.
Brink's International
First-quarter revenue from international operations was $562.5 million, up 36% (22% on a constant currency basis) from $414.6 million in 2007, reflecting increases in all regions. First-quarter operating profit more than doubled to $68.6 million, up from $32.7 million last year. The improvement was due primarily to higher profits in several Latin American countries. The operating profit margin for international operations was 12.2%, up from 7.9% in last year's first quarter.
EMEA (Europe, Middle East, Africa): First-quarter revenue for EMEA was $332.4 million, up 23% (8% on a constant currency basis) from $270.4 million in 2007. Operating profit declined slightly versus the year-ago quarter as improved performance in several countries was offset by weakness in the French operations.
Latin America: First-quarter revenue in Latin America increased 63% (51% on a constant currency basis) to $211.0 million, up from $129.5 million in 2007. Growth in the first quarter of 2008 included approximately $35 million related to the currency conversion in Venezuela. Revenues from conversion operations are expected to decline to approximately $10 million in the second quarter. Operating profit was up significantly over last year as profit growth in Venezuela was supplemented by strong performance in Brazil, Colombia, Chile and Argentina.
Asia-Pacific: First-quarter revenue in Asia-Pacific was $19.1 million versus $14.7 million last year. Operating profit increased over the year-ago period due to improved results from Global Services.
Brink's Home Security ("BHS")
First-quarter revenue at BHS was $127.8 million, up 11% from $114.7 million in 2007 due primarily to continued growth in the subscriber base and higher average monitoring rates. BHS ended the quarter with approximately 1.25 million subscribers, up 8.4% from the year-ago level. Monthly recurring revenue rose 12% to $38.3 million (see Non-GAAP Reconciliations for a reconciliation of monthly recurring revenue to reported revenue).
Operating profit was $32.0 million, up 14% from $28.2 million last year as higher profits from recurring services offset increased investment in new subscribers. The first-quarter operating profit margin was 25.0%, up slightly from 24.6% in 2007.
BHS installed approximately 44,600 systems for new customers during the quarter, a decline of 3% from the year-ago level, and had 18,900 disconnects. The decline in installations reflects the effects of ongoing weakness in the housing market.
The annualized disconnect rate was 6.1% in both periods. The full-year disconnect rate in 2008 is expected to range between 6.5% and 7.0%.
First-quarter capital expenditures at BHS totaled $45.8 million. Total capital spending at BHS in 2008 is expected to be between $185 million and $195 million.
Recent Events
On February 25, the company announced its intent to pursue a tax-free spin-off of BHS into a separate publicly traded company. The spin-off is expected to be completed in the fourth quarter of this year. The initial filing of Form 10 with the Securities and Exchange Commission, which will include preliminary details regarding the spin-off, is expected to occur during the second quarter.
During the first quarter of 2008, the company purchased 594,300 shares of its common stock for $36.9 million or $62.16 per share under the $100 million share repurchase authorization announced in 2007. From April 1 through April 25, an additional 204,000 shares were purchased for $13.9 million or $68.00 per share.
Corporate Expenses
Total corporate expense in the first quarter was $16.1 million, up from $11.6 million in 2007. In the 2008 quarter, the company incurred approximately $6 million of expenses related to its strategic review, proxy matters and the initial steps towards the planned execution of a tax-free spin-off of its BHS subsidiary. An additional $10 million to $15 million of expenses related to the spin-off are expected to be incurred during the balance of 2008.
Costs Related to Former Operations Included in Continuing Operations
First-quarter expenses related to former operations totaled $0.6 million, down from $3.3 million in 2007 due primarily to lower postretirement medical and pension expenses.
Taxes
The effective income tax rate of 35.1% for the first quarter of 2008 was lower than the year-ago rate of 39.9%, which included the recording of valuation allowances on expected benefits in non U.S. jurisdictions. The company expects the effective tax rate for full-year 2008 to be in the range of 34% to 36%.
Discontinued Operations
First-quarter income from discontinued operations was $2.1 million or 4 cents per share versus a loss of $2.4 million or 5 cents per share in the first quarter of 2007.
Net Income
First-quarter net income, which includes results from continuing and discontinued operations, was $50.1 million or $1.07 per share versus $28.7 million or 61 cents per share in 2007.
This release contains both historical and forward-looking information. Words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in this document includes, but is not limited to, expected revenue growth, cash flow and earnings for The Brink's Company and its subsidiaries in 2008, including organic revenue growth and operating profit margin at Brink's and revenue, operating profit and subscriber growth at BHS, maintaining improvements in Europe, combating competitive environments and higher costs in the United States and France, anticipated revenues from currency conversion operations, expected capital expenditures for 2008, ongoing weakness in the housing market, the disconnect rate at BHS, the strategic decision to spin-off BHS, the tax free nature, timing and other expected characteristics of the spin-off, expected additional expenses in 2008 related to the spin-off and the anticipated annual effective tax rate for 2008. The forward-looking information in this release is subject to known and unknown risks, uncertainties and contingencies, which could cause actual results, performance or achievements to differ materially from those that are anticipated.
These risks, uncertainties and contingencies, many of which are beyond the control of The Brink's Company and its subsidiaries, include, but are not limited to the ability of the Company to complete a successful spin-off of BHS, the satisfaction of all conditions in order to complete a spin-off of BHS, demand for the services of Brink's and BHS, the ability to identify and execute further cost and operational improvements and efficiencies in the core businesses, the impact of continuing initiatives to control costs and increase profitability, the ability of the businesses to cost effectively match customer demand with appropriate resources, the willingness of Brink's and BHS' customers to absorb future price increases and the actions of competitors, the Company's ability to identify strategic opportunities and integrate them successfully, acquisitions and dispositions made in the future, Brink's ability to integrate recent acquisitions, corporate expenses due to the implementation of the spin-off decision and shareholder initiatives, decisions by the Company's Board of Directors, Brink's ability to perform currency conversion cash handling services in Venezuela successfully and without adverse operational issues, regulatory and labor issues and higher security threats in European countries, the impact of actions responding to current market conditions in the United States, France and other European countries, the return to profitability of operations in jurisdictions where Brink's has recorded valuation adjustments, the input of governmental authorities regarding the non-payment of customs duties and value-added tax, the stability of the Venezuelan economy and changes in Venezuelan policy regarding exchange rates for dividend remittances, variations in costs or expenses and performance delays of any public or private sector supplier, service provider or customer, the ability of the Company and its subsidiaries to obtain appropriate insurance coverage at reasonable prices, positions taken by insurers with respect to claims made and the financial condition of insurers, safety and security performance, Brink's loss experience, changes in insurance costs, risks customarily associated with operating in foreign countries including changing labor and economic conditions, political instability, restrictions on repatriation of earnings and capital, nationalization, expropriation and other forms of restrictive government actions, costs associated with information technology and other ongoing contractual obligations, BHS' ability to maintain subscriber growth, the number of household moves, the level of home sales or new home construction, potential instability in housing credit markets, the performance of BHS' equipment suppliers and dealers, BHS' ability to cost-effectively develop or incorporate new systems in a timely manner, decisions regarding continued support of the developing commercial business, the ability of the home security industry to dissuade law enforcement and municipalities from refusing to respond to alarms, the willingness of BHS' customers to pay for private response personnel or other alternatives to police responses to alarms, estimated reconnection experience at BHS, costs associated with the purchase and implementation of cash processing and security equipment, changes in the scope or method of remediation or monitoring of the Company's former coal operations, the timing of the pass-through of certain costs to third parties and the timing of approvals by governmental authorities relating to the disposal of the coal assets, changes to estimated liabilities and assets in actuarial assumptions due to payments made, investment returns, annual actuarial revaluations, and periodic revaluations of reclamation liabilities, the funding levels, accounting treatment, investment performance and costs of the company's pension plans and the VEBA, whether the Company's assets or the VEBA's assets are used to pay benefits, projections regarding the number of participants in and beneficiaries of the Company's employee and retiree benefit plans, black lung claims incidence, the number of dependents of mine workers for whom benefits are provided, actual retirement experience of the former coal operation's employees, actual medical and legal expenses relating to benefits, changes in inflation rates (including medical inflation) and interest rates, changes in mortality and morbidity assumptions, mandatory or voluntary pension plan contributions, discovery of new facts relating to civil suits, the addition of claims or changes in relief sought by adverse parties, the cash, debt and tax position and growth needs of the Company, the demand for capital by the Company and the availability and cost of such capital, the satisfaction or waiver of limitations on the use of proceeds contained in various of the Company's financing arrangements, the nature of the Company's hedging relationships, the financial performance of the Company, utilization of third-party advisors and the ability of the Company to hire and retain corporate staff, changes in employee obligations, overall domestic and international economic, political, social and business conditions, capital markets performance, the strength of the U.S. dollar relative to foreign currencies, foreign currency exchange rates, changes in estimates and assumptions underlying the Company's critical accounting policies, anticipated return on assets, inflation, the promulgation and adoption of new accounting standards and interpretations, seasonality, pricing and other competitive industry factors, labor relations, fuel and copper prices, new government regulations and interpretations of existing regulations, legislative initiatives, judicial decisions, issuances of permits, variations in costs or expenses and the ability of counterparties to perform. The information included in this release is representative only as of the date of this release, and The Brink's Company undertakes no obligation to update any information contained in this release.
About The Brink's Company
The Brink's Company is a global leader in security-related services that operates two businesses: Brink's, Incorporated and Brink's Home Security. Brink's, Incorporated is the world's premier provider of secure transportation and cash management services. Brink's Home Security is one of the largest and most successful residential alarm companies in North America. For more information, please visit The Brink's Company website at http://www.brinkscompany.com/ or call toll free 877-275-7488.
Conference Call
The Brink's Company will host a conference call today, April 30, at 11:00 a.m. eastern time to discuss this press release. Interested parties can listen to the conference call by dialing (877) 407-0778 (domestic) or (201) 689-8565 (international), or via live webcast at http://www.brinkscompany.com/. Please dial in at least five minutes prior to the start of the call. Dial-in replay will be available through May 14, 2008, by calling (877) 660-6853 (domestic) or (201) 612-7415 (international). The conference account number is 286 and the conference ID for the replay is 282475. A webcast replay will also be available at http://www.brinkscompany.com/.
Contact:
Investor Relations
804.289.9709
The Brink's Company
and subsidiaries
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended
March 31,
(In millions, except per share amounts) 2008 2007
Revenues $ 920.6 740.5
Expenses:
Operating expenses 681.7 564.7
Selling, general and administrative expenses 140.6 112.4
Total expenses 822.3 677.1
Other operating income (expense), net (1.0) 0.9
Operating profit 97.3 64.3
Interest expense (2.5) (2.5)
Interest and other income, net 2.1 1.6
Income from continuing operations
before income taxes and minority interest 96.9 63.4
Provision for income taxes 34.0 25.3
Minority interest 14.9 7.0
Income from continuing
operations 48.0 31.1
Income (loss) from discontinued
operations, net of tax 2.1 (2.4)
Net income $ 50.1 28.7
Basic earnings per common share:
Continuing operations $ 1.03 0.67
Discontinued operations 0.05 (0.05)
Net income 1.08 0.62
Diluted earnings per common share:
Continuing operations $ 1.02 0.66
Discontinued operations 0.04 (0.05)
Net income 1.07 0.61
Weighted-average common shares outstanding:
Basic 46.5 46.3
Diluted 46.9 46.9
THE BRINK'S COMPANY
and subsidiaries
(Unaudited)
Three Months Ended
March 31,
(In millions) 2008 2007
Segment Information
Revenues:
Brink's $ 792.8 625.8
Brinks Home Security 127.8 114.7
Revenues $ 920.6 740.5
Operating profit:
Brink's $ 82.0 51.0
Brinks Home Security 32.0 28.2
Business segments 114.0 79.2
Corporate (16.1) (11.6)
Former operations (0.6) (3.3)
Operating profit $ 97.3 64.3
Supplemental Financial Information
Brink's:
Revenues:
North America $ 230.3 211.2
International 562.5 414.6
Revenues $ 792.8 625.8
Operating profit:
North America $ 13.4 18.3
International 68.6 32.7
Operating profit $ 82.0 51.0
Brink's Home Security:
Revenues $ 127.8 114.7
Operating profit:
Recurring services $ 56.8 50.8
Investment in new subscribers (24.8) (22.6)
Operating profit $ 32.0 28.2
Monthly recurring revenues (a) 38.3 34.2
Annualized disconnect rate 6.1% 6.1%
Number of subscribers (in thousands):
Beginning of period 1,223.9 1,124.9
Installations 44.6 45.8
Disconnects (18.9) (17.5)
End of period 1,249.6 1,153.2
Average number of subscribers 1,236.4 1,138.1
(a) see "Non-GAAP Reconciliations" below.
THE BRINK'S COMPANY
and subsidiaries
Supplemental Financial Information (continued)
(Unaudited)
COSTS OF FORMER OPERATIONS INCLUDED IN CONTINUING OPERATIONS
Three Months Ended
March 31,
(In millions) 2008 2007
Company-sponsored postretirement benefits
other than pensions $ 0.3 1.5
Black lung 0.9 0.9
Pension (1.8) (0.1)
Administrative, legal and other expenses, net 1.2 1.0
Costs of former operations $ 0.6 3.3
INCOME (LOSS) FROM DISCONTINUED OPERATIONS
Three Months Ended
March 31,
(In millions) 2008 2007
Results of Brink's United Kingdom domestic
cash handling operations $ - (2.5)
Adjustments to contingent liabilities
of former operations 2.9 0.4
Income (loss) from discontinued operations
before income taxes 2.9 (2.1)
Provision for income taxes 0.8 0.3
Income (loss) from discontinued operations $ 2.1 (2.4)
THE BRINK'S COMPANY
and subsidiaries
Supplemental Financial Information (continued)
(Unaudited)
SELECTED CASH FLOW INFORMATION
Three Months Ended
March 31,
(In millions) 2008 2007
Depreciation and amortization:
Brink's $ 29.7 24.7
Brink's Home Security 20.6 18.5
Corporate 0.1 0.2
Depreciation and amortization $ 50.4 43.4
Capital expenditures:
Brink's $ 31.5 26.2
Brink's Home Security:
Security systems 43.2 41.1
Other 2.6 2.3
Corporate - 0.1
Capital expenditures $ 77.3 69.7
Other Brink's Home Security cash flow
information:
Impairment charges from subscriber
disconnects $ 11.9 11.2
Amortization of deferred revenue (8.6) (8.0)
Deferral of subscriber acquisition
costs (current year payments) (6.3) (5.8)
Deferral of revenue from new subscribers
(current year receipts) 12.0 12.1
THE BRINK'S COMPANY
and subsidiaries
NON-GAAP RECONCILIATIONS
(Unaudited)
Monthly Recurring Revenues
A reconciliation of monthly recurring revenues to reported Brink's Home Security revenues follows:
Three Months Ended
March 31,
(In millions) 2008 2007
March:
Monthly recurring revenues ("MRR") (a) $ 38.3 34.2
Amounts excluded from MRR:
Amortization of deferred revenue 2.9 2.7
Other revenues (b) 1.6 1.7
Revenues on a GAAP basis $ 42.8 38.6
Revenues (GAAP basis):
March $ 42.8 38.6
January - February 85.0 76.1
January - March $ 127.8 114.7
(a) MRR is calculated based on the number of subscribers at period end
multiplied by the average fee per subscriber received in the last
month of the period for contracted monitoring and maintenance
services.
(b) Revenues that are not pursuant to monthly contractual billings.
The company uses MRR as one factor in the evaluation of BHS' performance and believes the presentation of MRR is useful to investors because the measure is widely used in the industry to assess the amount of recurring revenues from subscriber fees that a monitored security business produces. This supplemental non-GAAP information should be reviewed in conjunction with the company's consolidated statements of operations.
Net Debt (Cash) reconciled to GAAP measures
March 31, December 31,
(In millions) 2008 2007
Short-term debt $ 17.4 12.4
Long-term debt 162.2 100.2
Debt 179.6 112.6
Less cash and cash equivalents (207.2) (196.4)
Net Debt (Cash) $ (27.6) (83.8)
Net Debt (Cash) is utilized by management as a measure of the company's financial leverage and the company believes that investors also may find Net Debt (Cash) to be helpful in evaluating the financial leverage of the company. This supplemental non-GAAP information should be reviewed in conjunction with the company's consolidated balance sheets in the company's report on Form 10-Q for the period ended March 31, 2008.
The Brink's Company
and subsidiaries
NON-GAAP RECONCILIATIONS (continued)
(Unaudited)
Brink's, Incorporated Organic Revenue Growth
Three Months % change
Ended from prior
(In millions) March 31, period
2006 revenues $ 548.4 10
Effects on revenue of:
Organic Revenue Growth 47.7 9
Acquisitions and dispositions, net 6.3 1
Changes in currency exchange rates 23.4 4
2007 revenues 625.8 14
Effects on revenue of:
Organic Revenue Growth 95.9 16
Acquisitions and dispositions, net 7.7 1
Changes in currency exchange rates 63.4 10
2008 revenues $ 792.8 27
The supplemental Brink's, Incorporated Organic Revenue Growth information presented above is non-GAAP financial information that management uses to evaluate results of existing operations without the effects of acquisitions, dispositions and currency exchange rates. The company believes that this information may be helpful to investors in understanding the performance of the company's operations. The limitation of this measure is that the effects of acquisitions, dispositions and changes in values of foreign currencies cannot be completely separated from changes in prices (which include the effects of inflation) and volume of a unit's base business. This supplemental non-GAAP information does not affect net income or any other reported amounts. This supplemental non-GAAP information should be reviewed in conjunction with the company's consolidated statements of operations.
The Brink's Company
CONTACT: The Brink's Company, Investor Relations, +1-804-289-9709
Web site: http://www.brinkscompany.com/
CSC's Dr. Robert M. Wah Makes Top 10 in 50 Most Powerful Physician Executives List
FALLS CHURCH, Va., April 30 /PRNewswire/ -- Computer Sciences Corporation today announced that Dr. Robert M. Wah, chief medical officer and vice president of its North American Public Sector business unit, has been ranked number 10 in Modern Physician and Modern Healthcare magazines' annual ranking of the 50 Most Powerful Physician Executives, published in April. Readers from both magazines nominated 7,300 physician executives for the fourth annual ranking. Of the top 100 most-nominated candidates, nearly 20,000 ballots were cast to determine the top 50. This year, Dr. Wah advanced four places in his ranking from number 14 in last year's poll.
"This ranking reflects Dr. Wah's commitment and leadership to transform healthcare with better information for better decisions," said Raymond E. Henry, president of CSC's North American Public Sector Government Health Services division. "We congratulate Dr. Wah on this recognition of his many accomplishments. He is an expert in health information systems and his successes show our customers that they can count on us to improve the quality of patient care through the use of information technology."
Dr. Wah's focus is on managing and growing business with federal and state government agencies responsible for healthcare, and working closely with CSC's commercial and international business units that serve the healthcare sector.
Since joining CSC in 2007, Dr. Wah has applied his insights and expertise to many of the company's client programs, including occupational healthcare in high-risk locations such as the Hanford Nuclear facility; claims processing for eMedNY, the New York Medicaid system which handled 600 million transactions last year with no downtime; and bringing new discoveries from the lab to patients at DynPort Vaccine Company LLC. He is also working on bioinformatics harnessing technology to extract value from data and connecting data islands around the globe with CSC projects such as the Nationwide Health Information Network trial implementation in the United States, and projects in the United Kingdom, the Netherlands and Denmark.
Dr. Wah continues to be an active leader within the overall healthcare industry, serving on multiple boards and teaching at educational institutions. He is also often sought by the media for his expertise and regularly speaks at industry conferences.
Prior to joining CSC, Dr. Wah served as acting deputy national coordinator for health information technology (IT) at the U.S. Department of Health and Human Services. He also worked for the Military Health System in the Office of the Secretary of Defense as the associate chief information officer and director of information management. In addition, he served 23 years in the Navy Medical Corps, most recently at the rank of captain.
About CSC
Computer Sciences Corporation is a leading global IT services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 91,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. CSC reported revenue of $16.1 billion for the 12 months ended Dec. 28, 2007. For more information, visit the company's Web site at http://www.csc.com/.
Computer Sciences Corporation
CONTACT: Michelle Herd, Senior Manager, Communications, North American Public Sector, +1-703-641-3235, mherd@csc.com, or Mike Dickerson, Director, Media Relations, Corporate, +1-310-615-1647, mdickers@csc.com, both of Computer Sciences Corporation
Web site: http://www.csc.com/
eFuture Launches bfuture.com.cn B2B Website
Company Deploys Service for Wangfujing Group and its Nearly 20,000 Suppliers
BEIJING, April 30 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. ("eFuture"), a leading front-end supply chain management software and service company in China and Beijing bFuture Information Technology Co., Ltd. ("bFuture"), one of China's leading Sales-as-a-Service ("SaaS") providers in the retail and consumer goods industry, today announced the launch of http://www.bfuture.com.cn/ , a jointly-designed business-to- business ("B2B") SaaS website to connect retailers to their suppliers, enabling them to more efficiently and effectively share information and manage work processes. The company also announced that Beijing Wangfujing Department Store (Group) Co. Ltd. ("Wangfujing Group"), one of China's largest retail chains, has become the first client to adopt its bFuture online supply chain management platform.
The Web platform will connect Wangfujing Group to its nearly 20,000 suppliers and streamline supply chain management operations by allowing them to exchange business information, arrange payment online and access purchase orders, returns, payment status, inventory levels and sales data analysis.
"IT spending in China's retail industry is relatively low compared to developed markets, but the rapid emergence of consumers in China is driving the demand for more competitively priced and sophisticated supply chain tools," said Adam Yan, eFuture's chairman and chief executive officer. "Our bFuture SaaS model is the ideal solution for Chinese retailers and their suppliers looking to avoid expensive up-front costs while still enjoying the advantages of high-quality supply chain management solutions. We're able to increase the efficiency and competitiveness of our extensive network of leading retailers by offering them a platform to connect directly to their suppliers."
In November 2007, eFuture acquired a 51 percent stake in Beijing bFuture Information Technology, Inc. bFuture's B2B supply chain management solution offers online supply chain visibility and control for retailers and suppliers, and provides increased sales productivity, improved warehouse management, simplified billing requisition, direct access to customer data, enhanced decision-making capabilities, product recommendations and market information and feedback.
"SaaS is a scalable application delivery model that allows us to provide advanced supply chain management service at a fraction of the cost of traditional software licenses," said Peter Jiang, bFuture's chief executive officer. "With an Internet connection and a browser, our retail clients can connect to tens of thousands of suppliers to exchange and manage information, make orders and arrange payments. Suppliers benefit from the sharing of information, which helps them optimize their production and inventory management."
The bFuture on-demand SaaS delivery model offers retailers and suppliers faster payback, higher returns on investment and reduced risk while requiring fewer IT and business resources. eFuture charges suppliers a monthly subscription fee for the use of the bFuture platform.
eFuture began co-developing the B2B SaaS website with IBM China Research Lab and IBM Global Service Team in October 2007. The website, running on IBM's hardware, middleware and Internet data center infrastructure, utilizes eFuture's B2B supply chain management solution.
About Software as a Service ("SaaS")
SaaS is a model of software delivery where the software company provides maintenance, daily technical operations, and support for an online software platform. Software can be delivered using this method to any market segment including home consumers, small businesses, as well as medium and large businesses.
bFuture SaaS is an application delivery model under which eFuture develops and deploys Web-based software that its clients can access for a monthly subscription fee. SaaS allows eFuture's retail clients to forego the significant costs surrounding the hardware, software licenses, IT personnel, installation, maintenance and upgrades involved in traditional software delivery models. Through a Web-based interface, bFuture's SaaS platform gives retailer clients and their suppliers access to equivalent service and data security with minimal installation time and no up-front costs.
About Beijing bFuture Information Technology, Inc.
bFuture is a leading SaaS provider in the retail and consumer goods industry in China with a mission to connect retailers to their suppliers, enabling them to more efficiently and effectively share information and manage work processes. bFuture currently has more than 40 employees dedicated to increasing the efficiency and effectiveness of the company's clients. The company's bfuture.com.cn makes purchase orders, returns, payment status, inventory levels and sales statistics available online for suppliers to access and control in real-time.
For more information about bFuture, please visit http://www.bfuture.com.cn/.
About Beijing Wangfujing Department Store (Group) Co. Ltd.
Wangfujing Group is one of the largest department store chain enterprises in China and is listed on the Shanghai Stock Exchange (SSE: 600859). Established in 1955, Wangfujing Group is known as the "first store of New China." In 2004, Wangfujing Group was selected as one of 20 key, large-scale retail enterprises supported by the Ministry of Commence of China. The company currently operates over 17 stores and ranks 26th in Mainland China with turnover of RMB 10.6 billion in 2007.
Wangfujing Group's chain store expansion began in 1996. The company has since recruited the leading global management consulting firm, McKinsey & Company Inc. to design its chain store strategy, business systems and business processes and to conduct market analysis.
Wangfujing Group's network of chain stores, centered in Beijing, has expanded to key cities throughout China. After merging with Beijing Dong An Group Co. Ltd in 2000, Wangfujing Group accelerated its chain store strategy, and now has 17 large-scale department stores located in many of China's large urban centers including Beijing, Guangzhou, Wuhan, Chengdu, Chongqing, Nanning, Guiyang, Baotou, Changsha, Luoyang, Hohhot and Urumqi.
For more information about Wangfujing, please visit http://www.wfj.com.cn/ENG/index.html
About eFuture Information Technology Inc.
eFuture is a leading provider of front-end supply chain management software and services in China. eFuture provides one-stop-shop software and service solutions to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain market, especially in the retail and Fast Moving Consumer Goods (''FMCG'') industries. eFuture currently serves more than 950 clients, including Fortune 500 companies, over 750 retailers and over 200 distributors operating in China. eFuture is also one of IBM's premier business partners in Asia Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and Samsung Network China. The company has over 600 people and 20 branch offices across China.
For more information about eFuture, please visit http://www.e-future.com.cn/.
Safe Harbor
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, 2008 financial outlook and quotations from management in this announcement, as well as strategic and operational plans, contain forward- looking statements. eFuture may also make written or oral forward-looking statements in periodic reports to the Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to first parties. Statements that are not historical facts, including statements about the company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: eFuture's anticipated growth strategies; eFuture's future business development, results of operations and financial condition; expected changes in the company's revenues and certain cost or expense items; eFuture's ability to attract customers and leverage its brand; trends and competition in the software industry; the company's ability to hire, train and retain qualified managerial and other employees; the company's ability to develop new software's and pilot new business model at desirable locations in a timely and cost-effective manner; the expected growth of the Chinese economy software market in retail and consumer goods industries; and Chinese governmental policies relating to private managers and operators of software and applicable tax rates.
Further information regarding these and other risks is included in eFuture's annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release and in the attachments is as of April 30, 2008, and the company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
eFuture Information Technology Inc.
CONTACT: eFuture Information Technology Inc., +86-10-5165-0998 ext. 8804, or ir@e-future.com.cn; or Andrew Keller of Ogilvy Public Relations Worldwide, Beijing, +86-10-8520-3112, or andrew.keller@ogilvy.com
Web Site: http://www.e-future.com.cn/
ShengdaTech Schedules Conference Call to Discuss 2008 First Quarter Results
TAI'AN, Shandong, China, April 30 /Xinhua-PRNewswire-FirstCall/ -- ShengdaTech Inc. ("ShengdaTech") a leading manufacturer of nano precipitated calcium carbonate (NPCC) in the People's Republic of China (PRC) and a major manufacturer of coal-based chemical products in Tai'an City, Shandong Province, PRC, today announced it will host a conference call at 9:00 a.m. EST on Wednesday, May 7, 2008, to discuss the 2008 first quarter financial results.
Joining Mr. Xiangzhi Chen, ShengdaTech's Chief Executive Officer, will be Ms. Anhui Guo, Chief Financial Officer, and Mr. Crocker Coulson, President of CCG Elite. The Company plans to release its earnings earlier that same day.
To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 866-800-8648. International callers should dial 617-614-2702. The pass code for the call is 57707021.
If you are unable to participate in the call at this time, a replay will be available on Wednesday, May 7, 2008 at 11:00 a.m. EST through Wednesday, May 21, 2008. To access the replay, dial 888-286-8010, international callers should dial 617-801-6888. The conference pass code is 21762813.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on http://www.shengdatechinc.com/ . Please access the link at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a 90-day replay will be available shortly after the call by accessing the same link.
About ShengdaTech, Inc.
ShengdaTech Inc. is engaged in the business of manufacturing, marketing and selling nano-precipitated calcium carbonate ("NPCC") and coal-based chemicals for use in various applications. The Company converts limestone into NPCC using its proprietary technology. The unique chemical and physical attributes make NPCC a valuable ingredient in tires, paints, polyvinyl chloride ("PVC") building materials and other products. NPCC enhances the durability of many products by increased strength, heat resistance, and dimension stabilization. The Company is also engaged in the manufacture and sale of coal-based chemical products namely ammonium bicarbonate, liquid ammonia, melamine and methanol. The Company markets and sells its coal-based products mainly for chemical fertilizers and raw materials in the production of organic and inorganic chemical products, including formaldehyde and pesticides. For more information, contact CCG Elite directly or go to ShengdaTech's website at http://www.shengdatechinc.com/ .
For more information, please contact:
Crocker Coulson, President
CCG Elite
Tel: +1-646-213-1916
Email: crocker.coulson@ccgir.com
ShengdaTech Inc.
CONTACT: Crocker Coulson, President of CCG Elite, +1-646-213-1916, or crocker.coulson@ccgir.com
Web Site: http://www.shengdatechinc.com/
McAfee, Inc. Announces Investor Day 2008
SANTA CLARA, Calif., April 30 /PRNewswire-FirstCall/ -- McAfee, Inc. today announced the company will host Investor Day 2008 on Wednesday, May 7 at 8:30 a.m. Eastern Time in New York.
McAfee's executive management team will present the company's strategic goals, product roadmap and key milestones, as well as review the company's financials.
The event will be available to the public via a live webcast. Interested parties may access the event at http://investor.mcafee.com/. To listen to the live event, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. For those unable to listen to the live event, an audio archive will be available for two weeks following the live presentation.
About McAfee, Inc.
McAfee, Inc., headquartered in Santa Clara, California, is the world's largest dedicated security technology company. It delivers proactive and proven solutions and services that secure systems and networks around the world, allowing users to browse and shop the Web securely. With its unmatched security expertise and commitment to innovation, McAfee empowers home users, businesses, the public sector and service providers by enabling them to comply with regulations, protect data, prevent disruptions, identify vulnerabilities and continuously monitor and improve their security. http://www.mcafee.com/.
McAfee and/or other noted McAfee related products contained herein are registered trademarks or trademarks of McAfee, Inc., and/or its affiliates in the U.S. and/or other countries. McAfee Red in connection with security is distinctive of McAfee brand products. Any other non-McAfee related products, registered and/or unregistered trademarks contained herein are only by reference and are the sole property of their respective owners.
(C) 2008 McAfee, Inc. All rights reserved.
McAfee, Inc.
CONTACT: Investors, Brandie Claborn, +1-972-987-2124, Brandie_Claborn@mcafee.com, or Media, Tracy Ross, +1-408-346-5965, Tracy_Ross@mcafee.com, both of McAfee, Inc.
Web site: http://www.mcafee.com/
Sensata Technologies B.V. Announces First Quarter 2008 Results- Record high net revenue and Adjusted EBITDA(1).- First quarter 2008 net revenue grew to $388.5 million, which is an increase of 18.4% from $328.0 million in the same period in 2007.- First quarter 2008 Adjusted EBITDA(1) grew to $98.5 million, which is an increase of 16.2% from $84.8 million in the same period in 2007.
ALMELO, The Netherlands, April 30 /PRNewswire-FirstCall/ -- Sensata Technologies B.V. announces results of its operations for the first quarter, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070227/CLTU192LOGO )
Highlights of the Quarter Ended March 31, 2008
First quarter 2008 net revenue was a record $388.5 million, an increase of $60.5 million, or 18.4%, from the first quarter of 2007 net revenue of $328.0 million.
First quarter 2008 Adjusted EBITDA(1) was also strong at $98.5 million, which is $13.7 million or 16.2% higher than the first quarter 2007 Adjusted EBITDA(1) of $84.8 million.
Quarter ending cash balances grew to $83.6 million from $60.1 million at December 31, 2007.
Tom Wroe, Chairman and Chief Executive Officer, said, "We experienced a strong first quarter despite the continued slowness of the U.S. economy. Slower growth in automotive and housing end markets in North America was offset by our strength outside of the U.S. We continue to pursue strategies which will broaden our product portfolio and grow our business. These strategies include targeted investment in research and development and the continued evaluation of acquisition opportunities."
Jeff Cote, Chief Financial Officer added, "Our business from a financial standpoint is strong and our cash generation is on target for 2008. We continue to expect cash generation, after debt service and capital expenditures, of over $100 million for the year."
(1) See Non-GAAP Measures for discussion of EBITDA and Adjusted EBITDA,
including a reconciliation of these measures to GAAP Net Loss.
Company Earnings Conference Call
The Company will conduct a conference call on Wednesday, April 30, 2008 at 10:30 AM (EDT) to discuss the financial results for its first quarter 2008. The U.S. dial in number is 888-208-1617 and the non-U.S. number is 913-312- 1234. The conference code number is 2400898. For those unable to participate in the conference call, a replay will be available for two weeks following the call. To access the replay, the U.S. dial in number 888-203-1112 and the non- U.S. dial in number is 719-457-0820. The replay passcode is 2400898. The replay will also be available for one year on our website, http://www.sensata.com/.
About Sensata Technologies B.V.
On April 27, 2006, Sensata Technologies B.V., a company owned by an affiliate of Bain Capital Partners, LLC, a leading global private investment firm, completed the acquisition of the Sensors & Controls business of Texas Instruments Incorporated.
Sensata is a leading designer and manufacturer of sensors and controls in each of the key applications in which it competes. Sensata has business and product development centers in Massachusetts, Maryland, Maine, the United Kingdom, the Netherlands and Japan; and manufacturing operations in Brazil, China, Korea, Malaysia, Mexico, and the Dominican Republic, as well as sales offices around the world. Sensata employs approximately 9,000 people worldwide.
The Company manufactures over 20,000 different products that are highly engineered and application specific and ships over one billion units each year.
Safe Harbor Statement
This earnings release and our statements on our earnings calls contain forward-looking statements, which may involve risks or uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Factors that might cause these differences include, but are not limited to: changes in general economic conditions; continued pricing and other pressures from our customers; the threat of material costs associated with product liability, warranty and recall claims; increases in labor and material costs and nonperformance by our suppliers; increased competition in the key markets in which we operate; interest rate and foreign currency changes and various other risks associated with our non- U.S. operations; our ability to develop and protect intellectual property and know-how; our ability to integrate acquired businesses, including our ability to realize synergies related to our integration of acquisitions; changes in tax laws in the jurisdictions where we operate; and the risk that the interests of our sponsors may conflict with those of the holders of our notes. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made; and we undertake no obligation to publicly update or revise any forward- looking statements, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our filings are available from our Investor Relations department or from the SEC website, http://www.sec.gov/.
Non-GAAP Measures
EBITDA and Adjusted EBITDA are non-GAAP measures of profitability. Adjusted EBITDA is a required measure in our bank reporting. We define EBITDA as earnings before interest, taxes, depreciation and amortization. We calculate Adjusted EBITDA by adjusting EBITDA to exclude non-cash expenses, one-time charges associated with becoming a stand-alone company and charges associated with becoming a public company, expenses associated with realizing synergies on acquisitions, and significant nonrecurring items. We believe Adjusted EBITDA provides investors with helpful information with respect to our operations and cash flows. We include it to provide additional information with respect to our ability to meet our future debt service, capital expenditures and working capital requirements. See the table below which reconciles Net Loss to EBITDA and Adjusted EBITDA.
The following (unaudited) table reconciles Net Loss to EBITDA and Adjusted EBITDA for first quarter 2008 and 2007:
($ in 000s) Three Months Three Months
Ended Ended
March 31, 2008 March 31, 2007
Net Loss $(126,888) $(40,655)
Provision for income taxes 15,890 13,553
Interest expense, net 50,803 43,435
Depreciation and amortization 52,345 44,940
EBITDA (7,850) 61,273
Acquired in-process research and development - 5,700
Acquisition, transition and significant
non-recurring items 21,558 6,234
Write-off of inventory step-up - 2,158
Currency translation losses on debt 84,334 7,965
Stock compensation, management fees
and other 502 1,490
Adjusted EBITDA $98,544 $84,820
SENSATA TECHNOLOGIES B.V.
Consolidated Statement of Operations
(Unaudited)
($ in 000s)
Three Months Three Months
Ended Ended
March 31, 2008 March 31, 2007
Net revenue $388,514 $328,004
Operating costs and expenses:
Cost of revenue 273,320 221,280
Research and Development 12,933 9,798
Acquired in-process research and development - 5,700
Selling, general and administrative 82,239 67,889
Total operating costs and expenses 368,492 304,667
Profit from operations 20,022 23,337
Interest expense, net (50,803) (43,435)
Currency translation (loss)/gain and other (80,217) (7,004)
Loss before taxes (110,998) (27,102)
Provision for income taxes 15,890 13,553
Net Loss $(126,888) $(40,655)
Adjusted EBITDA* $98,544 $84,820
* See accompanying basis of presentation and discussion of Non-GAAP
Measures
SENSATA TECHNOLOGIES B.V.
Notes to (unaudited) Consolidated Statement of Operations
Basis of Presentation
The accompanying (unaudited) Consolidated Statement of Operations does not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. The accompanying financial information reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair presentation of the results of our operations for the interim periods presented. The results of operations for the three months ended March 31, 2007 and 2008 are not necessarily indicative of the results to be expected for the full year. This information should be read in conjunction with the consolidated and combined financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and the interim financial statements to be included in the Company's Form 10-Q for the period ended March 31, 2008.
U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070227/CLTU192LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Sensata Technologies B.V.
CONTACT: Investors, Patty Campanile, +1-508-236-3147, pcampanile@sensata.com, or Media, Linda Megathlin, +1-508-236-1761, lmegathlin@sensata.com, both of Sensata Technologies B.V.
Web site: http://www.sensata.com/
EFJ, Inc. Announces First Quarter 2008 Financial ResultsCompany On Track with Strategic Plan, Technology Roadmap and Profitability Goal for 2008; Reports Quarterly Revenues of $33.9 Million and Gross Margin of 33%
IRVING, Texas, April 30 /PRNewswire-FirstCall/ -- EFJ, Inc. today announced its results for the quarter ended March 31, 2008. Revenues were $33.9 million for the three months ended March 31, 2008, and the gross margin was 33%.
"This quarter's performance is on track with our plan to bring this company back to profitability in 2008," said Michael E. Jalbert, chairman and chief executive officer. "I believe that the steps we have taken over the last months have put us squarely on the path for meeting that goal. These include streamlining the organization by combining the three businesses into one; developing new products; seeking new partnerships; strengthening our marketing efforts to new federal, state and local government customers; and adding other customers seeking to use wireless solutions for monitoring and control."
Revenues were down as compared to last year's first quarter of $38.9 million which included large deliveries against Department of Defense contracts, which as expected, were not replicated in the first quarter of 2008. The decline in federal revenue was partially offset by increases associated with the Federal Communications Commission (FCC) rebanding initiative.
Gross profit decreased $1.3 million, or 10%, to $11.3 million in the three months ended March 31, 2008, from $12.6 million for the same period in 2007. Gross profit as a percentage of revenues ("Gross Margin") increased to 33% for the three months ended March 31, 2008, versus 32% for the same period a year ago.
The net loss was $2.1 million, or $0.08 per share, for the three months ended March 31, 2008, compared to net loss of $363,000, or $0.01 per share, for the same period last year. The increased loss was due to the combination of lower gross profits in the current quarter coupled with higher general and administrative expenses, which totaled $6.4 million in the 2008 first quarter versus $5.6 million for the same quarter of 2007.
Jalbert noted that the Company has launched two new major products since the beginning of the year, including the Rapid Response Video-to-Vehicle (R2V2) Starter Kit and the final bands of the ES portable platform product. He noted, "We're especially pleased with early customer response to R2V2, which enables first responders to set up real-time video surveillance and send live footage of the scene to a command and control vehicle.
"We booked a new $1.8 million task order against the $16 million contract from the U.S. Department of Homeland Security announced last October and a $4.0 million follow-on order from a Department of Defense customer. We are actively cultivating business and technology partners, with plans to announce one new partnership by the end of this quarter. We continued to strengthen our sales and marketing program, which included our leadership of the first Interoperability Seminar held in Irving during February. Our new internal performance excellence program is designed to stimulate and reward employee achievements in generating process, operations, and design/engineering improvements throughout the organization," he said.
The Company's management plans to discuss the financial results and provide an operational progress report on its investor call today at 9:00 a.m. (EDT). The investor conference call will be available via live webcast on the EFJ, Inc. website at http://www.efji.com/ under the tab "Investor Relations." Investors are advised to go to the website at least 15 minutes prior to the call to register, download and install any necessary audio software. The webcast will be archived for 90 days.
To participate by telephone, the domestic dial-in number is 877-407-8031 and the international dial-in number is 201-689-8031. Participants are urged to call in to the conference call at least 10 minutes prior to the start time.
About EFJ, Inc.
Headquartered in Irving, Texas, EFJ, Inc. focuses on innovating, developing and marketing the highest quality secure communications solutions to organizations whose mission is to protect and save lives. The Company's customers include first responders in public safety and public service, the federal government, and industrial organizations. The Company's products are marketed under the EFJohnson, 3e Technologies International, and Transcrypt International trade names. For more information, visit http://www.efji.com/.
Safe Harbor
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward- looking statements due to a number of risk factors including, but not limited to, the level of demand for EFJ's products and services, reliance on contract manufacturers, the timely procurement of necessary manufacturing components, implementation of application software, successful integration of the system components, dependence on continued funding of governmental agency programs, general economic and business conditions, and other risks detailed in EFJ's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the period ended December 31, 2007 and in the company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release and EFJ undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
EFJ, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the three months ended March 31, 2008 and 2007
(Unaudited and in thousands, except share and per share data)
2008 2007
Revenues $ 33,899 $ 38,948
Cost of sales 22,601 26,374
Gross profit 11,298 12,574
Operating expenses:
Research and development 3,255 3,459
Sales and marketing 3,166 3,406
General and administrative 6,401 5,646
Amortization of intangibles 407 421
Total operating expenses 13,229 12,932
Loss from operations (1,931) (358)
Interest expense, net (181) (5)
Loss before income taxes (2,112) (363)
Income tax benefit (expense) - -
Net loss $ (2,112) $ (363)
Net loss per share - Basic $ (0.08) $ (0.01)
Weighted average common shares
- Basic 26,062,748 26,030,067
EFJ, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
March 31, 2008 and December 31, 2007
(Unaudited and in thousands, except share and per share data)
March 31, December 31,
ASSETS 2008 2007
Current assets:
Cash and cash equivalents $ 8,447 $ 15,636
Accounts receivable, net of
allowance for returns and
doubtful accounts of $1,914
and $1,642, respectively 28,461 21,345
Receivables - other 7,163 6,944
Cost in excess of billings on
uncompleted contracts 4,762 3,275
Inventories, net 33,918 33,871
Prepaid expenses 1,479 1,109
Total current assets 84,230 82,180
Property, plant and equipment, net 6,795 7,096
Goodwill 20,040 20,040
Other intangible assets, net of
accumulated amortization 13,414 13,821
Other assets 430 352
TOTAL ASSETS $ 124,909 $ 123,489
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Revolving line of credit $ 6,500 $ -
Current portion of long-term debt
obligations 8 8
Accounts payable 10,673 13,411
Accrued expenses 10,321 11,232
Billings in excess of cost on
uncompleted contracts 676 221
Deferred revenues 588 1,010
Total current liabilities 28,766 25,882
Long-term debt obligations, net of
current portion 15,013 15,015
Deferred income taxes 1,489 1,489
Other liabilities 1,134 737
TOTAL LIABILITIES 46,402 43,123
Stockholders' equity
Preferred stock ($0.01 par value;
3,000,000 shares authorized;
none issued) - -
Common stock ($0.01 par value;
50,000,000 voting shares authorized,
26,213,128 and 26,210,232 issued and
outstanding as of March 31, 2008
and December 31, 2007, respectively) 262 262
Additional paid-in capital 154,006 153,356
Accumulated other comprehensive loss (1,107) (710)
Accumulated deficit (74,654) (72,542)
TOTAL STOCKHOLDERS' EQUITY 78,507 80,366
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ 124,909 $ 123,489
EFJ, Inc.
CONTACT: Sally Beerbower of EFJ, Inc., +1-703-744-7800, sally@qorvis.com
Web site: http://www.efji.com/
Digital Ally, Inc. to Host the First Quarter 2008 Conference Call on April 30, 2008
OVERLAND PARK, Kan., April 23 /PRNewswire-FirstCall/ -- Digital Ally, Inc. , which develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications, today announced that the Company will host an investor conference call to discuss its first quarter 2008 operating results at 11:00 a.m. Eastern Time (EDT) on Wednesday, April 30, 2008. The Company will release its operating results for the quarter ended March 31, 2008 earlier the same day.
Shareholders and other interested parties may participate in the conference call by dialing 800-860-2442 (international/local participants dial 412-858-4600) and asking to be connected to the Digital Ally, Inc. conference call a few minutes before 11:00 a.m. EDT on April 30, 2008. The call will also be broadcast live on the Internet at http://www.videonewswire.com/event.asp?id=47996.
A replay of the conference call will be available one hour after the completion of the conference call from April 30, 2008 until 5:00 pm on Monday, June 30, 2008 by dialing 877-344-7529 (international/local participants dial 412-317-0088) and entering the conference ID 418912.
The call will also be archived on the Internet through July 29, 2008, at http://www.videonewswire.com/event.asp?id=47996 and on the Company's website at http://www.digitalallyinc.com/.
About Digital Ally, Inc.
Digital Ally, Inc. develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications. The Company's primary development focus involves the field of Digital Video Imaging and Storage. For additional information, visit http://www.digitalallyinc.com/
The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol "DGLY".
For Additional Information, Please Contact:
Stan Ross, CEO at (913) 814-7774
Or
RJ Falkner & Company, Inc., Investor Relations Counsel at (830) 693-4400 or
via email at info@rjfalkner.com
Audio: http://www.videonewswire.com/event.asp?id=47996
Digital Ally, Inc.
CONTACT: Stan Ross, CEO of Digital Ally, Inc., +1-913-814-7774 or, Investor Relations Counsel of RJ Falkner & Company, Inc., +1-830-693-4400, info@rjfalkner.com, for Digital Ally Inc.
Web site: http://www.digitalallyinc.com/
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