Companies news of 2008-06-19 (page 3)
RELM Wireless Reports Upon Annual Meeting- Directors Reelect George N. Benjamin III as...
Tri-S Security Makes Top 40 List of Security Companies in the U.S.; Also Selected as One...
China Technology Development Corporation to Present at the Collins Stewart Fourth Annual...
iTunes Store Tops Over Five Billion Songs SoldApple Renting & Selling Over 50,000 Movies...
Brocade to Present at a Conference and Host a Technology Day
eRT Announces the Availability of the Suicidality Monitoring System(TM) For Clinical...
Pixelplus Announces KC Uppertech to Distribute New Third Generation PlusPixel2(TM)...
MasterCard Partners with Obopay to Offer Industry-leading Person-to-Person Mobile Payment...
Automobili Lamborghini S.p.A Signs Exclusive Agreement With Sirius Satellite Radio- 2009...
Gerber Scientific Announces Fiscal 2008 Fourth Quarter and Full Year Results
RFMD(R) Introduces Single and Dual Junction Isolators for Cellular Base Stations
Stanley to Present at Wachovia 18th Annual Nantucket Equity Conference
Genworth Financial Chairman and CEO Michael D. Fraizer to Speak at the UBS Global...
CACI International to Release FY09 Annual Guidance After Market Close on June 25, 2008To...
Optimum Lightpath Receives NPRG Communications Innovators Award(R) for 'Most Innovative...
CSC Launches OmniLocation Suite of Visibility Service OfferingsInnovative Technologies...
Ingram Micro Named Distributor of the Year by Samsung Information Technology...
Telestone Announces Latest Business Progress in Russia and Middle East
ProLink's ProStar GPS Now in Play at Green Valley Ranch Golf ClubAward-Winning Denver...
Harris Corporation Selected for Potential $58 Million Contract for New NASA Space Suit...
Steelcase Inc. Annual Meeting of Shareholders to be Webcast
Spansion Broadens Strategy for Partnerships in Technology Development and ManufacturingTo...
Tri Palm International Turns to Oracle for Business Intelligence InitiativeManufacturer...
WD's Third-Generation High Capacity Enterprise SATA Hard Drives Offer New and Enhanced...
Circuit City Stores, Inc. Reports First Quarter Results- Company Exceeds Pre-tax Guidance...
RT Logic Announces Certification and Accreditation of RTGuard Cross Domain SolutionNew...
Energy Conversion Devices Upsizes and Prices Offering of 4.7 Million Shares of Common...
Alliance Data Signs Long-Term Agreement to Provide Private Label Credit Card Services for...
Sonic Foundry Unveils Mediasite 5.0, the Next Generation Lecture Capture Platform for...
Sonic Foundry Unveils Mediasite 5.0 and its Next Generation of Mediasite RecordersLatest...
RELM Wireless Reports Upon Annual Meeting- Directors Reelect George N. Benjamin III as Chairman of the Board -- Mandatory Retirement Age for Directors Eliminated -
WEST MELBOURNE, Fla., June 19 /PRNewswire-FirstCall/ -- At the Company's Annual Meeting on May 21, 2008 directors of RELM Wireless Corporation reelected George N. Benjamin III to his sixth one-year term as Chairman of the Board and amended the company's corporate governance guidelines to eliminate the provision for mandatory retirement of directors at age 72.
Mr. Benjamin has served on the Board of Directors at RELM Wireless (http://www.relm.com/) since January 1996. A longtime business leader, his career has included senior executive experience with The Marmon Group; BICC Cables, NA; TIE/Communications, Inc.; Ericsson, Inc.; and TRIG Systems.
Currently, Mr. Benjamin is a Director of Stonebridge Financial Corporation, the parent company of Stonebridge Bank (http://www.stonebridgebank.com/), an Internet-based bank focused on national customer accounts while directing its lending practice in the Delaware Valley from its headquarters in West Chester, PA. Mr. Benjamin serves as Chairman of the Compensation Committee, and as a member of the Asset and Liability Committee of Stonebridge Financial Corporation.
In addition, Mr. Benjamin continues to serve as the Lead Independent Director of Seattle-based AuBeta Networks Corporation (http://www.aubeta.net/), a Secured Wide Area Networks (SWAN) company serving the commercial and financial industry, and as Chairman of the Corporate Strategy Committee and a member of the Audit and Capital Committees.
In recent years Mr. Benjamin has specialized in consulting on acquisitions and mergers, restructuring and turnarounds, entrepreneurial startups, and new business expansion for domestic and international companies in the telecommunications technology, electronic instrumentation, electro-mechanical equipment, and wire and cable industries through TRIG Systems, a worldwide management consulting company. From 1997 to 1999 he served as President of BICC Brand-Rex and from 1998 to 1999 as President and Chief Executive Officer of BICC Cables Corp., N.A. From 1988 to 1995 he was Group Vice President of The Marmon Group, Inc.; from 1992 to 1995 he was President and Chief Executive Officer of TIE/Communications, Inc.; and from 1985 to 1987 he was President of Ericsson, Inc., a wholly owned subsidiary of Ericsson, N.A.
Mr. Benjamin holds three U.S. patents involving solid dielectric insulated high-voltage cable design and manufacturing equipment and processes.
Additionally, the Board amended the company's corporate governance guidelines to eliminate a provision that no individual will be eligible to be nominated for election or reelection as a director upon attaining the age of 72.
The full text of the company's corporate governance guidelines may be found in the corporate governance section of the Company's web site at http://www.relm.com/.
About RELM Wireless
For more than 60 years, RELM Wireless Corp. has manufactured and marketed high-specification two-way communications equipment for use by public safety professionals and government agencies, as well as radios for use in a wide range of commercial and industrial applications, including disaster recovery. Advances include new interoperable, low-cost digital two-way radios compliant with APCO Project 25 technical specifications. Products are manufactured and distributed under BK Radio, RELM/BK and RELM product lines. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at http://www.relm.com/ or directly at 1-800-821-2900.
This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act Of 1995. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, the following: reliance on contract manufacturers; heavy reliance on sales to the U.S. Government;; federal, state and local budget deficits and spending limitations; limitations in available radio spectrum for use by land mobile radios; general economic and business conditions; changes in customer preferences; competition; changes in technology; changes in business strategy; the debt and inventory levels of the Company; quality of management, business abilities and judgment of the Company's personnel; and the availability, terms and deployment of capital. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company's Annual Report on Form 10-K for the year 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 the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
RELM Wireless Corporation
CONTACT: Company Contact, David Storey, President & CEO of RELM Wireless Corporation, +1-321-984-1414; or Investor Relations Contact, R Jerry Falkner, CFA of R J Falkner & Company, Inc., 1-800-377-9893
Web site: http://www.relm.com/
Tri-S Security Makes Top 40 List of Security Companies in the U.S.; Also Selected as One of Georgia's Top 100 Public Companies
ATLANTA, June 19 /PRNewswire-FirstCall/ -- Tri-S Security Corp. , a provider of security services and equipment for government and private entities, has announced that the company has been listed in the Security Letter's "Top 40 Security Companies in the United States." Security Letter, published in New York City, is the oldest privately circulated newsletter concerning the protection of assets from loss. This is the second year in a row that Tri-S has made the list and was ranked 20th for 2007.
Tri-S also announced the company has been honored as one of Georgia's top 100 public companies. This is Tri-S's second year on this list, and the company is ranked 86th for 2007. The "Georgia Top 100" is published by the Atlanta Journal Constitution.
According to Ronald G. Farrell, CEO of Tri-Security, "This acknowledgement indicates how quickly we are growing and gaining recognition as a public company in the security industry. With revenues estimated at approximately $140-150 million for 2008 compared to $88.9 million for 2007, we expect to move up even further on both lists in 2008. We are pleased to have gained attention in both national security circles and in our own state as a growth company," commented Farrell.
About Tri-S Security Corporation
Based in Atlanta, GA, Tri-S Security Corp. is a provider of security services and equipment for government and private entities spanning a wide range of industries. The government sector is serviced through its wholly-owned subsidiary Paragon Systems and the private sector through its subsidiary Cornwall Group. Security services include uniformed guards, electronic monitoring systems, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities. As a leading aggregator of elite security companies, Tri-S Security is designed to build a strong enterprise in which to service a unique customer base that ensures America's safety at home and work. Tri-S Security assumes responsibility for the marketing, infrastructure and overall operational performance for its subsidiaries. Tri-S Security's management leverages highly trained government officers, experienced industry leaders, proven financial executives and infrastructure experts to consolidate the fragmented security industry into one efficient and effective security force.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Federal securities laws. Forward-looking statements are commonly identified by such terms and phrases as "should", "expects", "plans", "anticipates", "believes", "estimates", "projects" and other terms with similar meaning indicating potential impact on our business. Although we believe that the assumptions upon which such forward-looking statements are based are reasonable, we can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from our projections and expectations are disclosed in our filings with the Securities and Exchange Commission, including the "Risk Factors" section set forth in our Annual Report on Form 10-K for the year ended December 31, 2006. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to their underlying assumptions. We do not undertake to publicly update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a results of new information, future events or otherwise. You may obtain and review our filings with the Securities and Exchange Commission by visiting http://www.sec.gov/.
Tri-S Security Corp.
CONTACT: Ron Farrell, President of Tri-S Security Corporation, +1-678-808-1540
Web site: http://www.trissecurity.com/
China Technology Development Corporation to Present at the Collins Stewart Fourth Annual Growth Conference on July 8th, 2008
HONG KONG, June 19 /Xinhua-PRNewswire-FirstCall/ -- China Technology Development Group Corporation (Nasdaq: CTDC; "CTDC"; "the Company"), a provider of solar energy products and solutions in China focusing on a-Si thin-film technology, announced today that it will be attending and presenting at the Collins Stewart Fourth Annual Growth Conference. The conference is being held at the Mandarin Oriental Hotel in New York City.
Alan Li, Chief Executive Officer and Charlene Hua, Chief Financial Officer of CTDC will provide an overview of the Company's current business strategy and its expansion in the thin-film solar sector during a presentation scheduled on July 8th, 2008.
About CTDC:
CTDC is a provider of solar energy products and solutions in China focusing on a-Si thin-film technology. CTDC's ultimate principal shareholder is China Merchants Group ( http://www.cmhk.com/ ), one of the biggest state- owned conglomerates in China.
For more information, please visit our website at http://www.chinactdc.com/ .
Forward-Looking Statement Disclosure:
This press release of the Company, which is a foreign private issuer, on Form 6-K 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 statements relate to future events or the Company's future financial performance. The Company has attempted to identify forward-looking statements by terminology including "anticipates", "believes", "expects", "can", "continue", "could", "estimates", "expects", "intends", "may", "plans", "potential", "predict", "should", or "will" or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company's actual results, level of activity, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this Report on Form 6-K is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward- looking statements are reasonable, the Company does not guarantee future results, level of activity, performance or achievements. The Company's expectations are as of the date this Form 6-K is filed, and the Company does not intend to update any of the forward-looking statements after the date this Report on Form 6-K is filed to conform these statements to actual results, unless required by law.
Enquiries:
Company Contact
Selina Xing
PR/IR Department
Tel: +852-3112-8461
Email: ir@chinactdc.com
Investor Relations
Peter Schmidt, FD (Beijing)
Tel: +86-10-8591-1953
Email: peter.schmidt@fd.com
China Technology Development Group Corporation
CONTACT: Selina Xing, PR and IR Department of CTDC, +852-3112-8461, or ir@chinactdc.com or Investor Relations, Peter Schmidt, FD of Beijing, +86-10- 8591-1953, or peter.schmidt@fd.com
Web site: http://www.cmhk.com/ http://www.chinactdc.com/
iTunes Store Tops Over Five Billion Songs SoldApple Renting & Selling Over 50,000 Movies Per Day
CUPERTINO, Calif., June 19 /PRNewswire-FirstCall/ -- Apple(R) today announced that music fans have purchased and downloaded over five billion songs from the iTunes(R) Store (http://www.itunes.com/). iTunes is the number one music retailer in the US* and features the largest music catalog with over eight million songs. Also, iTunes customers are now renting and purchasing over 50,000 movies every day, making iTunes the world's most popular online movie store.
iTunes features movies from all of the major movie studios including 20th Century Fox, The Walt Disney Studios, Warner Bros., Paramount, Universal Studios Home Entertainment, Sony Pictures Entertainment, Metro-Goldwyn-Mayer (MGM), Lionsgate and New Line Cinema. Users can rent movies and watch them on their Macs or PCs, all current generation iPods**, iPhone(TM) and on a widescreen TV with Apple TV(R). iTunes Store customers can also purchase new movie releases from major film studios and premier independent studios on the same day as their DVD release.
The iTunes Store is the world's most popular online music, TV and movie store with a catalog of over eight million songs, over 20,000 TV episodes and over 2,000 films including over 350 in stunning high definition video. With Apple's legendary ease of use, pioneering features such as iTunes Movie Rentals, integrated podcasting support, iMix playlist sharing, the ability to turn previously purchased tracks into complete albums at a reduced price, and seamless integration with iPod(R) and iPhone, the iTunes Store is the best way for Mac(R) and PC users to legally discover, purchase and download music and video online.
*Based on data from market research firm the NPD Group's MusicWatch survey that captures consumer reported past week unit purchases and counts one CD representing 12 tracks, excluding wireless transactions. The iTunes Store became the largest music retailer in the US based on the amount of music sold during January and February 2008.
**Movie rentals work on iPod classic, iPod nano with video and iPod touch.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
(C) 2008 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iTunes, iPhone, Apple TV and iPod are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
Apple
CONTACT: Tom Neumayr, +1-408-974-1972, tneumayr@apple.com, or Christine Monaghan, +1-408-974-8850, cmonaghan@apple.com, both of Apple
Web site: http://www.apple.com/
Brocade to Present at a Conference and Host a Technology Day
SAN JOSE, Calif., June 19 /PRNewswire-FirstCall/ -- Brocade(R) , the leader in networked storage solutions that help enterprises connect and manage their information, today announced that it will present at an upcoming financial conference and will host a Technology Day. The presentations will be available via a live webcast at http://www.brcd.com/.
-- Brocade Vice President and General Manager of the Data Center Infrastructure Business Unit, Ian Whiting, will speak at the Wachovia Securities 18th Annual Nantucket Equity Conference on Tuesday, June 24, 2008, at the White Elephant Hotel on Nantucket Island, MA. The presentation will be webcast starting at 10:15 a.m. EDT.
-- Brocade CEO, Michael Klayko, CFO, Richard Deranleau, and other company executives will host the Brocade Technology Day in front of investors, customers, analysts and the media on Thursday, June 26, 2008 at the Waldorf Astoria Hotel, New York. Brocade executives will discuss the company's vision and plans for current and future businesses and technologies. The event will be available via webcast starting at 1:00 p.m. EDT.
All presentations will also be available at http://www.brcd.com/.
About Brocade
Brocade is a leading provider of data center networking solutions that help organizations connect, share, and manage their information in the most efficient manner. Organizations that use Brocade products and services are better able to optimize their IT infrastructures and ensure compliant data management. For more information, visit the Brocade Web site at http://www.brocade.com/ or contact the company at info@brocade.com.
Brocade, Fabric OS, File Lifecycle Manager, MyView, and StorageX are registered trademarks and the Brocade B-wing symbol, DCX, and SAN Health are trademarks of Brocade Communications Systems, Inc., in the United States and/or in other countries. All other brands, products, or service names are or may be trademarks or service marks of, and are used to identify, products or services of their respective owners.
Brocade
CONTACT: Media, John Noh, +1-408-333-5108, jnoh@brocade.com, or Investors, Alex Lenke, +1-408-333-6758, alenke@brocade.com, both of Brocade; or Ian Yellin of Ogilvy PR, +1-415-677-2714, ian.yellin@ogilvypr.com, for Brocade
Web site: http://www.brocade.com/
eRT Announces the Availability of the Suicidality Monitoring System(TM) For Clinical Trials
PHILADELPHIA, June 19 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), , a leading provider of centralized ECG and eClinical technology, ePRO and other services to the pharmaceutical, biotechnology, medical device and related industries, announced today the availability of the EXPeRT(R) ePRO Suicidality Monitoring System(TM) (SMS). Suicidality screening is required in a growing number of drug development programs as a part of effective drug profiling and subject safety monitoring in clinical trials. The SMS was developed to address regulatory concerns and reduce the cost and time associated with clinician-administered suicidality assessments. It will also improve the quality of suicidality assessments compared to those performed by clinicians alone. SMS was developed in conjunction with Drs. John Greist, Alan Gelenberg, James Mundt, David Katzelnick and Jeff Jefferson. It is the most recent addition to a growing line of telephone-based assessments within the EXPeRT(R) ePRO services offered by eRT.
SMS is a simple patient monitoring and alert tool. It enhances subject comfort while generating critical information for site research staff and investigators in evaluating suicidality risk factors. It is easily added to any clinical trial. If a potential suicidality signal is detected for a subject, the SMS promptly alerts the investigator site to permit more in-depth clinical follow-up and evaluation.
Dr. John Greist, an eRT consultant with decades of experience and research on computer interviewing, described some of the benefits of SMS: "SMS provides a user-friendly telephone interface as a computer terminal to collect sensitive suicidality data directly from trial subjects. Advantages of Interactive Voice Response (IVR) technology are: constant availability; reliable, consistent, and complete presentation of every question; electronic recording of respondents' answers; documentation of the assessment completion; and prompt feedback and reporting to the study sites. Patients are more likely to disclose sensitive subject matter, including suicidality, in computer interviews than they will to human interviewers. The SMS models the ideal human interviewer, comprehensively and consistently covering every relevant topic while efficiently branching around irrelevant questions. Sound science requires standardization of measurement; the SMS provides a standard of procedural reliability that surpasses the reliability of human investigators performing such assessments."
"Just as the use of digital ECGs in assessing cardiac safety has become an essential part of drug development, we believe that the use of SMS in assessing suicidality will also become an integral part of the drug development process," said Jeffrey S. Litwin, M.D., eRT's Chief Medical Officer.
EXPeRT(R) ePRO was launched by eRT in conjunction with Healthcare Technology Systems (HTS), a leading authority in the research, development and validation of computer administered clinical rating instruments. It leverages HTS' expertise and eRT's existing infrastructure and role as a leading provider of clinical solutions to the pharmaceutical, biotechnology, medical device and related industries. Electronic patient reported outcome (ePRO) assessments are standardized, with all questions asked and scored by direct automated methods from trial subjects at any location with telephone access. Additionally, ePRO assessments provide subject response checking during interviews, offer immediate data storage to prevent potential data loss, and improve the accuracy and timeliness of subject data entry and increased clinical study efficiencies.
About eResearchTechnology, Inc.
Philadelphia-based eResearchTechnology (http://www.ert.com/) delivers technology-based products and services that enable pharmaceutical, biotechnological and medical device companies to collect, interpret and distribute cardiac safety and clinical data more efficiently. eRT is a market leader in centralized electrocardiographic (ECG) services-a core diagnostic capability-and a leading provider of technology and services that allow customers to automate and streamline data-based components of clinical trials, helping them bring new drugs to market faster.
Forward-looking statements
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to 2008 financial guidance, involve a number of risks and uncertainties such as the company's ability to obtain new contracts and accurately estimate net revenues due to uncertain regulatory guidance, variability in size, scope and duration of projects, and internal issues at the sponsoring client, integration of acquisitions, competitive factors, technological development, and market demand. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the company's financial results can be found in the company's Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
eResearchTechnology, Inc.
CONTACT: Greg Sadowski, Senior Vice-President, ePRO, eResearchTechnology, Inc. +1-908-252-4999, gsadowski@ert.com
Web site: http://www.ert.com/
Pixelplus Announces KC Uppertech to Distribute New Third Generation PlusPixel2(TM) 'System-on-a-Chip' Image Sensors in China
SEOUL, South Korea, June 19 /PRNewswire-FirstCall/ -- Pixelplus Co., Ltd. , a fabless semiconductor company in Korea that designs, develops, and markets CMOS image sensors for various consumer electronics applications, today announced that the Company signed an agreement for KC Uppertech to become the Company's distributor in China, as well as Taiwan, Hong Kong, and Macao. KC Uppertech will be responsible for marketing, distributing, and sales of the Company's new line of products, most notably Pixelplus' PO4010 CIF and PO6030 VGA 'System-on-a-Chip' ("SoC") third generation image sensors.
The PO4010 is designed to be embedded in mobile devices such as third generation ("3G") mobile phones with dual camera functionality. The sensor is based on the Company's PlusPixel2(TM) technology and is one of the industry's smallest and most compact with an optical size of 1/11 inch. The Company developed the PO4010 in response to the increasing demand for ultra-compact camera modules which utilize two image sensors, a CIF image sensor for videoconferencing and a higher megapixel image sensor for digital photos.
The PO6030 is also based on the Company's PlusPixel2(TM) technology (0.13 micron CMOS process). The PO6030 integrates advanced ISP algorithms and refined 3.6 micron pixel array in a 1/6.2 inch optical format, and delivers enhanced image quality in low light conditions. Compared to the Company's earlier generation VGAs, the PO6030's more efficient and ultra-compact chip-size and cutting-edge pixel architecture enable this product to reduce image noise and distortion, display greater color uniformity and consistency, and improve dynamic range and optical performance. With a two-wire serial interface, the PO6030 can be easily programmed to control operating modes with respect to exposure time, frame rate, window size, scaling, sub-sampling, and color matrix to produce high quality images in any operating environment.
Dr. S.K. Lee, Founder and CEO of Pixelplus, commented, "We are excited by the growth prospects for both our PO4010 and PO6030 in Greater China over the coming years. Demand is growing for our cutting-edge products and we are ready to meet the needs of this very attractive market. Our third generation sensors, based on PlusPixel2(TM) technology, provide mobile phone manufacturers with a great sensor for a good value, and we will continue to look for new sales opportunities and new markets for these products."
About Pixelplus Co., Ltd.
Pixelplus is a South Korea-based developer of high-performance, high-resolution, and cost-effective CMOS image sensors for use primarily in mobile camera phones. In addition to mobile phones, Pixelplus provides CMOS image sensors and SoC solutions for use in webcams and notebook embedded cameras, toys and games, and security and surveillance system applications.
As a fabless semiconductor company, Pixelplus is focused on creating proprietary design technologies to develop CMOS image sensors with sharp, colorful and enhanced image quality, size efficiency, and low power consumption.
Forward Looking Statement
This press release contains certain statements that are not historical in nature but are "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project," or "continue" or the negative of such words or other similar words. Pixelplus cautions readers that forward-looking statements are based on the Company's current expectations, estimates and assumptions about our company and our industry, and are subject to a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Investors are directed to Pixelplus' reports and documents filed from time to time with the U.S. Securities and Exchange Commission for a description of various factors that should be considered before investing in Pixelplus' securities. These factors may cause Pixelplus' results to differ materially from the forward-looking statements made in this release. The forward-looking statements speak only as of the date of this press release, and Pixelplus assumes no duty or obligation to update them to reflect new, changing, or unanticipated events or circumstances.
Contact:
Shane Y. Hong
Pixelplus Co., Ltd.
6th Floor, Gyeonggi R&DB Center
906-5 Iui-dong, Yeongtong-gu
Suwon-si, Gyeonggi-do, 443-766
Republic of Korea
+82-31-888-5300
OR
Taylor Rafferty:
London - Emilia Whitbread at +44 (0) 20 7614 2900
New York - Jessica McCormick at +1 212 889 4350
Tokyo - Jason Wagers at +81 (0) 3 3221 9513
E-mail pixelplus@taylor-rafferty.com
Pixelplus Co., Ltd.
CONTACT: Shane Y. Hong, Pixelplus Co., Ltd., +82-31-888-5300; or Taylor Rafferty: London - Emilia Whitbread at +44 (0) 20 7614 2900, New York - Jessica McCormick at +1 212 889 4350, Tokyo - Jason Wagers at +81 (0) 3 3221 9513, pixelplus@taylor-rafferty.com
MasterCard Partners with Obopay to Offer Industry-leading Person-to-Person Mobile Payment ServiceMasterCard MoneySend(TM) will be offered to MasterCard issuing banks through the Obopay mobile payment service
PURCHASE, N.Y., June 19 /PRNewswire-FirstCall/ -- MasterCard today announced an agreement with Obopay, Inc. to offer a fully-integrated on-demand person-to-person mobile payment service in the United States. The service, offered via MasterCard MoneySend, will give new and existing MasterCard issuing customers the ability to provide an innovative mobile payments service to their MasterCard cardholders on all credit, debit and prepaid MasterCard-branded products.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061031/MCLOGO )
The announcement of this service comes at a time when consumers are increasingly seeking to use their mobile phones to streamline and simplify their day-to-day activities, including banking and payment transactions. TowerGroup estimates that in the United States, adoption of consumer mobile banking has quintupled in the past 12 months from 1.1 million active users in 2007 to 5.7 million active users today. As mobile consumers become increasingly comfortable with converging technologies on their mobile devices, the opportunity to develop mobile payments systems will continue to grow. The new Mobile MasterCard MoneySend Person-to-Person service will give participants the freedom and flexibility to directly, easily and securely send and receive funds through any registered cardholder's mobile phone. The service will make mobile money transfer seamless for millions of consumers. Participants will use mobile numbers to send and receive funds, keeping their payment account numbers private.
"Our strong partnership with Obopay takes the development of the mobile person-to-person payments framework to the next level," said Art Kranzley, Chief Emerging Technology Officer, MasterCard Worldwide. "The power and breadth of the MasterCard network combined with the account relationships of MasterCard issuers and Obopay's mobile payment technology enable us to offer valuable new services for consumers throughout the U.S., allowing consumers to easily transfer funds to their friends and families. We will launch this new service with our financial institution customers and Obopay in the near future."
Kranzley also noted, "The development of this service underscores our commitment to driving commerce and industry innovation. We will continue to develop solutions that combine payments and communications onto 'anywhere,' 'anytime' consumer devices that provide a positive business model for all parties in the mobile payments value chain."
"Obopay is proud to establish this partnership with MasterCard, and we look forward to developing a service that will build on MasterCard's history of delivering mobile services to their cardholders" said Obopay President, U.S.-based Operations, Gregory Holmes. "With more consumers clamoring for services that fit their mobile lifestyles, we're confident that MasterCard cardholders will welcome the option of quickly and easily sending money to other cardholders via mobile phone."
Driving Innovation in the Payments Industry
The U.S. is an important market for MasterCard innovation. The highly developed marketplace and sophisticated consumer preferences demand the most advanced payments solutions. MasterCard's focus on products and services that are directly related to payments, such as MasterCard(R) PayPass(TM) will propel continued innovation for the industry in the mobile space delivering value for all parties in the value chain including financial institutions, operators, merchants and consumers.
With over 28 million MasterCard PayPass cards and devices in use at more than 109,000 merchant locations worldwide, and multiple in-market mobile PayPass trials taking place in the U.S. and globally, MasterCard is committed to delivering fast, convenient and secure transaction experiences for consumers at the point of interaction.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com/.
About Obopay
Obopay, Inc. (http://www.obopay.com/) is a pioneering service that lets consumers and small businesses purchase, pay, and transfer money through any mobile phone using Obopay's mobile application, text message, mobile Web, widget, or Obopay.com. As the first U.S. mobile payment service created exclusively for the mobile phone, only Obopay works on any phone and any carrier to empower consumers and businesses with the convenience of mobile payments. Obopay is bringing mobile payments to more consumers through industry-first alliances and is headquartered in Redwood City, California.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20061031/MCLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
MasterCard
CONTACT: Erica Harvill of MasterCard Worldwide, +1-914-249-6848, Erica_harvill@mastercard.com; or Kaitlin Jaxheimer of Weber Shandwick, +1-212-445-8261, kjaxheimer@webershandwick.com, for MasterCard Worldwide; or Erin Mitchell of RLM Public Relations, +1-646-712-3050, erin@RLMpr.com, for Obopay
Web site: http://www.mastercard.com/
Automobili Lamborghini S.p.A Signs Exclusive Agreement With Sirius Satellite Radio- 2009 Model Year Launch- Standard on all Murcielago Models- Lifetime Subscription included in every vehicle
NEW YORK and SANTA AGATA, Italy, June 19 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio and Automobili Lamborghini S.p.A. today announced that Automobili Lamborghini will offer SIRIUS as its exclusive satellite radio provider in Lamborghini vehicles. The first Lamborghini to include SIRIUS as standard factory installed equipment will be the Murcielago beginning with the 2009 model year in the U.S.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125 )
"We are very pleased to have Automobili Lamborghini as a partner." said Mel Karmazin, CEO SIRIUS. "We look forward to working closely with Automobili Lamborghini to offer its customers the best in audio entertainment available for its prestigious vehicles."
"SIRIUS was the natural choice for Automobili Lamborghini's exclusive supercars," stated Stephan Winkelmann, President and CEO of Automobili Lamborghini S.p.A. "Satellite radio gives our customers easy access to endless music options, therefore enhancing their ability to enjoy their vehicle on the road or track."
SIRIUS will be standard equipment in each Murcielago and will include a lifetime subscription to SIRIUS Satellite Radio with every vehicle purchase.
About SIRIUS
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL and NASCAR, and broadcasts live play-by-play games of the NFL as well as live NASCAR races. All SIRIUS programming is available for a monthly subscription fee of only $12.95.
SIRIUS Internet Radio (SIR) is an Internet-only version of the SIRIUS radio service, without the use of a radio, for the monthly subscription fee of $12.95. SIR delivers more than 80 channels of talk, entertainment, sports, and 100% commercial free music.
SIRIUS Backseat TV (TM) is the first ever live in-vehicle rear seat entertainment featuring three channels of children's programming, including Nickelodeon, Disney Channel and Cartoon Network, for the subscription fee of $6.99 plus applicable audio subscription fee.
SIRIUS products for the car, truck, home, RV and boat are available at shop.sirius.com and in more than 20,000 retail locations, including Best Buy, Circuit City, Crutchfield, Target, Wal-Mart, Sam's Club and RadioShack.
As of December 31, 2007, SIRIUS radios were available as a factory and dealer-installed option in 116 vehicle models and as a dealer only-installed option in 37 vehicle models.
SIRIUS has agreements with Aston Martin, Audi, Bentley, BMW, Chrysler, Dodge, Ford, Jaguar, Jeep, Kia, Land Rover, Lincoln, Maybach, Mazda, Mercedes-Benz, Mercury, MINI, Mitsubishi, Rolls-Royce, Volvo, and Volkswagen to offer SIRIUS radios as factory or dealer-installed equipment in their vehicles. SIRIUS has relationships with Toyota and Scion to offer SIRIUS radios as dealer-installed equipment, and a relationship with Subaru to offer SIRIUS radios as factory or dealer-installed equipment. SIRIUS radios are also offered to renters of Hertz vehicles at airport locations nationwide.
Click on http://www.sirius.com/ to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission. Among the significant factors that could cause our actual results to differ materially from those expressed are: our pending merger with XM Satellite Radio Holdings, Inc. ("XM"), including related uncertainties and risks and the impact on our business if the merger is not completed; any events which affect the useful life of our satellites; our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming providers; and our competitive position versus other audio entertainment providers.
About Lamborghini
Founded in 1963, Automobili Lamborghini S.p.A is headquartered in Sant' Agata Bolognese, in Northeastern Italy and manufactures some of the world's most sought after super sports cars. With 34 dealerships in North America and 114 worldwide, Automobili Lamborghini has created a succession of dynamic and elegant super sports cars including the Miura, Islero, Urraco, 350GT, Espada, Countach, Diablo, Murcielago LP640, Murcielago LP640 Roadster, Gallardo Coupe, Gallardo Spyder, Gallardo SE, Gallardo Superleggera, Reventon and the recently launched 2009 Gallardo LP560-4. For more information on Automobili Lamborghini, please visit the website at http://www.lamborghini.com/.
O-SIRI
MEDIA CONTACT:
Sal Resendez
SIRIUS
646 313 2405
sresendez@siriusradio.com
SIRIUS Satellite Radio
CONTACT: Sal Resendez, SIRIUS, +1-646-313-2405, sresendez@siriusradio.com
Web site: http://www.sirius.com/ http://www.lamborghini.com/
Gerber Scientific Announces Fiscal 2008 Fourth Quarter and Full Year Results
SOUTH WINDSOR, Conn., June 19 /PRNewswire-FirstCall/ -- Gerber Scientific, Inc. today reported net income for the quarter ended April 30, 2008 of $6.1 million, or $0.26 per diluted share, on revenue of $173.7 million, compared with net income of $5.6 million, or $0.24 per diluted share, on revenue of $155.1 million for the fourth quarter ended April 30, 2007. A decline in the exchange rates of the US dollar to other currencies had the effect of increasing revenue by approximately $12.9 million in the fourth quarter of fiscal 2008 as compared with the fourth quarter of fiscal 2007.
For the fiscal year ended April 30, 2008, the Company reported net income of $14.5 million, or $0.61 per diluted share, on revenue of $640.0 million. For the fiscal year ended April 30, 2007, the Company reported net income of $13.5 million, or $0.58 per diluted share, on revenue of $574.8 million. A decline in the exchange rates of the US dollar to other currencies had the effect of increasing revenue by approximately $37.1 million for the year ended April 30, 2008 as compared with the year ended April 30, 2007.
The Company generated $1.6 million in cash flows provided by operations, less capital expenditures, for fiscal 2008 as compared with a cash usage of $3.7 million in fiscal 2007.
Gerber Scientific President and Chief Executive Officer, Marc T. Giles, commented, "Gerber delivered solid fourth quarter and full year fiscal 2008 financial results, growing both revenue and earnings from the prior year. Excluding the favorable impact of foreign currency translation, revenue growth was driven by strong organic growth in our Spandex distribution business, success of new products, our acquisition of Data Technology and continued expansion in Asia. We were able to improve our business performance despite some key new product delays, most notably the Solara ion(TM), not fully achieving our expected targeted cost reductions through lean initiatives and challenging market conditions particularly in the Ophthalmic segment."
Giles continued, "Looking ahead, although global economic uncertainty is evident, we currently expect significant growth in both revenue and profitability in fiscal year 2009. We expect this growth to be achieved through the anticipated success of the recently commercialized Solara ion and other new products, as well as gaining momentum and traction against our manufacturing cost reduction initiatives through the execution of lean principles under the direction of our new leadership in this area."
About Gerber Scientific, Inc.
Gerber Scientific, Inc. (http://www.gerberscientific.com/) is a leading international supplier of sophisticated automated manufacturing systems for the sign making and specialty graphics, apparel and flexible materials, ophthalmic lens processing, and print and packaging industries. Headquartered in South Windsor, Connecticut, the Company operates through four primary business units: Gerber Scientific Products, Spandex, Gerber Technology and Gerber Coburn.
Cautionary Note Concerning Factors That May Affect Future Results
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements contained in this news release regarding the Company's expected financial condition, results of operations, cash flows and product launches are forward-looking statements that involve risks and uncertainties. For information identifying other important economic, political, regulatory, legal, technological, competitive and other risks and uncertainties, readers are referred to the Company's filings with the Securities and Exchange Commission, including but not limited to, the information included in Gerber Scientific's Annual Report on Form 10-K for the fiscal year ended April 30, 2007 under the headings "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Cautionary Note Concerning Factors That May Influence Future Results," as well as information included in subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, which outline certain important risks regarding the Company's forward-looking statements. These risks include, but are not limited to, delays in the Company's new product development and commercialization, intense competition in markets for each of the Company's operating segments, rapid technological advances, availability and cost of raw materials, volatility in foreign currency exchange rates and fluctuations in interest rates. Actual future results or events may differ materially from those expressed or implied in the Company's forward-looking statements. The Company expressly disclaims any obligation to update any of these forward-looking statements, except as required by law.
GERBER SCIENTIFIC, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Quarter Ended Year Ended
April 30, April 30,
In thousands, except per share data 2008 2007 2008 2007
Revenue:
Product sales $154,923 $138,365 $565,945 $509,141
Service sales 18,745 16,772 74,072 65,657
173,668 155,137 640,017 574,798
Costs and Expenses:
Cost of products sold 109,474 97,814 403,776 362,215
Cost of services sold 12,971 10,287 49,708 40,209
Selling, general and
administrative expenses 36,275 32,244 136,247 124,460
Research and development 6,704 6,089 26,187 24,282
165,424 146,434 615,918 551,166
Operating income 8,244 8,703 24,099 23,632
Other income (expense), net 914 549 818 524
Loss on early extinguishment of debt --- --- (343) ---
Interest expense (705) (817) (3,822) (3,530)
Income before income taxes 8,453 8,435 20,752 20,626
Income tax expense 2,350 2,870 6,248 7,118
Net income $6,103 $5,565 $14,504 $13,508
Earnings per share of common stock:
Basic $0.26 $0.24 $0.62 $0.59
Diluted $0.26 $0.24 $0.61 $0.58
Weighted average shares outstanding:
Basic 23,175 23,105 23,320 22,896
Diluted 23,372 23,509 23,598 23,446
GERBER SCIENTIFIC, INC.
CONSOLIDATED SUMMARY BALANCE SHEETS
(Unaudited)
April 30, April 30,
In thousands 2008 2007
Assets
Current Assets:
Cash and cash equivalents $13,892 $8,052
Accounts receivable, net 120,752 106,421
Inventories 76,927 65,299
Prepaid expenses and other current assets 13,429 15,106
Total current assets 225,000 194,878
Property, plant and equipment, net 39,852 36,982
Goodwill 61,844 54,825
Deferred income taxes 34,354 34,893
Other assets 17,489 14,384
Total assets $378,539 $335,962
Liabilities and Shareholders' Equity
Current Liabilities:
Current portion of long-term debt $--- $1,773
Accounts payable 51,253 48,772
Accrued and other liabilities 67,742 63,208
Total current liabilities 118,995 113,753
Long-term debt 42,000 31,603
Other long-term liabilities 47,981 46,125
Shareholders' equity 169,563 144,481
Total liabilities and shareholders'
equity $378,539 $335,96
Gerber Scientific, Inc.
CONTACT: Michael Elia, or John Krawczynski, both of Gerber Scientific, Inc., +1-860-644-1551
Web site: http://www.gerberscientific.com/
RFMD(R) Introduces Single and Dual Junction Isolators for Cellular Base Stations
ATLANTA, June 19 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. , a global leader in the design and manufacture of high-performance semiconductor components, today announced the introduction of nine single junction and dual junction isolators for wireless infrastructure applications. The new products include the PIxxxxAG-21H line of 30W reverse power single junction isolators and the PDxxxxAQ-21H line of 100W reverse power dual junction isolators designed for the high-power, linear amplification sections of cellular base stations.
Both the PIxxxxAG-21H line and the PDxxxxAQ-21H line of isolators are constructed with samarium cobalt (SmCo) magnets packaged in aluminum housings, providing immediate improvements in reliability and performance as well as a "green" environmentally friendlier application, versus existing generations of isolators. Each new product delivers excellent electrical performance and rugged construction developed to meet the more demanding operational requirements of the new highly-integrated dual- and quad-density platforms utilized in next-generation cellular base stations.
Features of the PIxxxxAG-21H line include:
-- Tuned to cover the five major cellular frequency bands from 869MHz to 2190MHz: PI0882AG-21H, PI0940AG-21H, PI1843AG-21H, PI1960AG-21H and PI2140AG-21H
-- Forward IMD performance of -75 dBc
-- Insertion loss of 0.2 dB nominal
-- Isolation equal to 20 dB minimum
-- Industry standard 1x1 inch "drop-in", lead-free and RoHS compliant package
Features of the PDxxxxAQ-21H line include:
-- Tuned to cover the four major cellular frequency bands from 869MHz to 1990MHz: PD0882AQ-21H, PD0940AQ-21H, PD1843AQ-21H, and PD1960AQ-21H
-- IMD performance of -70 dBc Forward and -90 dBc Reverse
-- Insertion loss of 0.35 dB nominal
-- Isolation equal to 50 dB minimum
-- Industry standard 1x2 inch "drop-in", lead-free and RoHS compliant package
"RFMD's two new lines of single junction and dual junction Samarium Cobalt isolators are designed to meet the stringent performance requirements of next-generation integrated base station platforms and are highly complementary to RFMD's industry-leading portfolio of high-performance integrated RF components," said, Bob Pinato, general manager of RFMD's Standard Products Business Unit.
Samples are immediately available for both the PIxxxxAG-21H and PDxxxxAQ-21H lines of isolators. Based upon existing customer design activity, RFMD(R) anticipates volume shipments will commence in the third quarter of this year.
RFMD's wireless infrastructure product portfolio includes base station products for the WCDMA, EDGE, GSM/GPRS, CDMA and TD-SCDMA air interface standards, as well as microwave point-to-point radios. RFMD's portfolio of products includes gain blocks, LNAs, VCO modules, PLL modules, pre-driver and driver amplifiers, modulators, isolators and circulators, LDMOS and GaN high power devices and custom, multi-chip modules for up-conversion and down-conversion blocks.
RFMD will showcase its industry-leading portfolio of high-performance semiconductor components at the 2008 IEEE International Microwave Symposium (IMS 2008) in Atlanta, Georgia, June 16-18, 2008, Booth 1311.
About RFMD: RF Micro Devices, Inc. is a global leader in the design and manufacture of high-performance semiconductor components. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's web site at http://www.rfmd.com/.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. RF Micro Devices' business is subject to numerous risks and uncertainties, including variability in quarterly operating results, the rate of growth and development of wireless markets, risks associated with our planned exit from our wireless systems business, including cellular transceivers and GPS solutions, the risk that restructuring charges may be greater than originally anticipated and that the cost savings and other benefits from the restructuring may not be achieved, risks associated with the operation of our wafer fabrication facilities, molecular beam epitaxy facility, assembly facility and test and tape and reel facilities, our ability to complete acquisitions and integrate acquired companies, including the risk that we may not realize expected synergies from our business combinations, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers, and dependence on third parties. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES(R) and RFMD(R) are trademarks of RFMD, LLC. All other trade names, trademarks and registered trademarks are the property of their respective owners.
RF Micro Devices, Inc.
CONTACT: At RFMD, Doug DeLieto, VP, Investor Relations, +1-336-678-7968, or Jerry Neal, Executive Vice President, +1-336-678-7001
Web site: http://www.rfmd.com/
Stanley to Present at Wachovia 18th Annual Nantucket Equity Conference
ARLINGTON, Va., June 19 /PRNewswire-FirstCall/ -- Stanley, Inc. , a leading provider of systems integration and professional services to the U.S. federal government, today announced its participation at the Wachovia 18th Annual Nantucket Equity Conference in Nantucket, Mass. The company will present on Thursday, June 26, 2008, at 8:00 a.m. EDT.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/DCTU010LOGO )
The company's presentation will be webcast and may be heard on the Investor Relations page of Stanley's website, http://www.stanleyassociates.com/, beginning at the time of the presentation and available through July 25, 2008.
About Stanley
Stanley is a provider of information technology services and solutions to U.S. defense and federal civilian government agencies. Stanley offers its customers systems integration solutions and expertise to support their mission-essential needs at any stage of program, product development or business lifecycle through five service areas: systems engineering, enterprise integration, operational logistics, business process outsourcing, and advanced engineering and technology. Headquartered in Arlington, Va., the company has approximately 3,700 employees at over 100 locations in the U.S. and worldwide. In 2008 and 2007, Stanley was recognized by FORTUNE(R) magazine as one of the "100 Best Companies to Work For." Please visit http://www.stanleyassociates.com/ for more information.
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Stanley, Inc.
CONTACT: Lawrence Delaney, Jr., Investor Relations Counsel of Stanley, +1-703-739-7410, Larry.Delaney@stanleyassociates.com
Web site: http://www.stanleyassociates.com/
Genworth Financial Chairman and CEO Michael D. Fraizer to Speak at the UBS Global Insurance Conference
RICHMOND, Va., June 19 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. Chairman and CEO, Michael D. Fraizer, will present at the UBS Global Insurance Conference in London on Thursday, June 26, 2008 beginning approximately at 10:45 a.m. GMT (5:45 a.m. ET).
The presentation and a link to the webcast will be publicly available on Genworth's website at http://investor.genworth.com/. To participate in the webcast, register at least 15 minutes prior to the presentation to download and install any necessary software. The presentation will be archived on Genworth's website.
About Genworth Financial
Genworth Financial, Inc. is a leading public Fortune 500 global financial security company. Genworth has $114 billion in assets and employs approximately 7,000 people in 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of over 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit genworth.com.
Genworth Financial, Inc.
CONTACT: Investors, Cass English, +1-804-662-2614, cass.english@genworth.com; or Media, Tom Topinka, +1-804-662-2444, thomas.topinka@genworth.com
Web site: http://www.genworth.com/
CACI International to Release FY09 Annual Guidance After Market Close on June 25, 2008To Hold Conference Call and Webcast Before Market Open on June 26, 2008
ARLINGTON, Va., June 19 /PRNewswire-FirstCall/ -- CACI International Inc will issue its Fiscal Year 2009 (FY09) Annual Guidance at 4:05 p.m. Eastern Time on Wednesday, June 25, 2008. Following the release of this information, the company has scheduled a conference call for Thursday, June 26th at 8:30 a.m. Eastern Time, during which management will be making a brief presentation focusing on the FY09 guidance. A question-and-answer session will follow to further discuss the guidance and management's performance expectations during FY09.
Interested parties can listen to the conference call and view accompanying exhibits over the Internet by logging on to CACI's Internet site at http://www.caci.com/ at the scheduled time. Or they may dial in to 877-627-6580, confirmation code 3404635. Slides of the presentation will be available on CACI's website during the call. A replay of the call will also be available over the Internet beginning on June 26th at 1:00 p.m. Eastern Time, and can be accessed through CACI's homepage (http://www.caci.com/).
CACI International Inc provides the professional services and IT solutions needed to prevail in today's defense, intelligence, homeland security, and federal civilian government arenas. We deliver enterprise IT and network services; data, information, and knowledge management services; business system solutions; logistics and material readiness; C4ISR integration services; information assurance, information operations, and cyber security services; integrated security and intelligence solutions; and program management and SETA support services. CACI services and solutions help our federal clients provide for national security, improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. We add value to our clients' operations, increase their skills and capabilities, and enhance their missions. CACI is a member of the Fortune 1000 Largest Companies of 2007 and the Russell 2000 index. CACI provides dynamic careers for approximately 12,000 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/.
For investor information contact:
David Dragics
Senior Vice President, Investor Relations
(866) 606-3471, ddragics@caci.com
For media 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 Media, 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/
Optimum Lightpath Receives NPRG Communications Innovators Award(R) for 'Most Innovative Competitive Carrier' and '2008 Carrier Ethernet Service Provider of the Year' Award from MEF
JERICHO, N.Y., June 19 /PRNewswire/ -- Optimum Lightpath(SM), an industry leader in providing advanced Ethernet-based communications services, today announced that it has been awarded the "Most Innovative -- Competitive Carrier" Communication Innovators Award(R), from New Paradigm Resources Group, Inc. (NPRG) and Pipeline Magazine, and a "2008 Carrier Ethernet Service Provider of the Year" award from the MEF (Metro Ethernet Forum). Both awards were presented at NXTcomm08 in Las Vegas this week.
The NPRG Communications Innovators Awards(R) recognize service providers that implement cutting-edge solutions and demonstrate forward-thinking innovation. The award was presented by NPRG, a leading strategic consulting and research firm for innovators within the communications industry.
"NPRG continues to recognize companies that drive the communications industry forward," said NPRG's Executive Vice President Craig Clausen. "Optimum Lightpath stood out for the innovation and competitive spirit the company has introduced into the dynamic communications market. We're pleased to honor Optimum Lightpath with this Award and recognize the Company for its ingenuity and diligence."
Optimum Lightpath was also a recipient of the "2008 Carrier Ethernet Service Provider of the Year, Services Innovations Category" among North American Carrier Ethernet providers by the MEF, a global industry alliance whose mission is dedicated to accelerating the worldwide adoption of Carrier Ethernet networks and services. This is the third consecutive year that Optimum Lightpath was honored by the MEF.
"Optimum Lightpath has been recognized again this year because of its continued commitment to service leadership and dedication to simplifying the adoption of Carrier Ethernet networks and services," said Nan Chen, President of the Metro Ethernet Forum.
"We are honored to receive these two prestigious industry awards, a testament to the ongoing dedication and innovation exhibited by the Optimum Lightpath team," said Dave Pistacchio, Executive Vice President and General Manager, Optimum Lightpath. "Our successful innovations are based on truly listening and responding to the needs of medium and large size businesses in the largest business market in the world."
Optimum Lightpath's Metro Ethernet service is helping to increase productivity, streamline operations and lower the total cost of ownership (TCO) for enterprise customers across the New York metropolitan area, resulting in high customer satisfaction, specifically among hospitals, financial institutions and major corporations using its services.
Businesses interested in learning more about Optimum Lightpath's Metro Ethernet services can visit http://www.optimumlightpath.com/ or call 1-877- LIGHTPATH.
About Optimum Lightpath
Optimum Lightpath, a division of Cablevision Systems Corporation , and an industry leader in providing advanced Ethernet-based data, Internet, voice, video transport solutions and managed services over its Intelligent Enterprise Network, uses the power of its reliable and resilient fully fiber optic network to deliver these solutions to businesses throughout the New York metropolitan area. Since its formation almost 20 years ago, Optimum Lightpath has built an advanced fiber-to-the-business-premises network extending more than 2,750 route miles throughout the tri-state area with more than 2,800 fiber lit buildings. As a result of owning and maintaining this state-of-the-art network, Optimum Lightpath is able to reliably provide scalable, high-capacity IP-based Metro Ethernet services that support high bandwidth data, Internet, voice and video applications that dramatically improve the enterprise customer's quality of experience.
Optimum Lightpath has been recognized for ten straight years by the New York State Public Service Commission with its Commendation for Excellent Customer Service. This year, the Company was named 2008 Frost & Sullivan North American Ethernet Service Emerging Company of the Year. In 2007, Optimum Lightpath was named Heavy Reading's North American Ethernet Service Provider of the Year for Regional Innovation and named Best North American Regional Service Provider of the Year by the Metro Ethernet Forum (MEF). Optimum Lightpath was one of the first service providers in the world and the only North American MSO to earn Carrier Ethernet certification from the MEF. For more information, visit http://www.optimumlightpath.com/.
About Cablevision
Cablevision Systems Corporation is one of the nation's leading entertainment and telecommunications companies. Its cable television operations serve more than 3 million households in the New York metropolitan area. The company's advanced telecommunications offerings include its iO TV(SM) digital television, Optimum Online(R) high-speed Internet, Optimum Voice(R) digital voice-over-cable, and its Optimum Lightpath integrated business communications services. Cablevision's Rainbow Media Holdings LLC operates several successful programming businesses, including AMC, IFC, WE tv and other national and regional networks. In addition to its telecommunications and programming businesses, Cablevision owns Madison Square Garden and its sports teams, the New York Knicks, Rangers and Liberty. The company also operates New York's famed Radio City Music Hall, and owns and operates Clearview Cinemas.
Media Contacts:
Jennifer Moritz
Zer0 to 5ive for Optimum Lightpath
917-748-4006
jmoritz@0to5.com
Jim Maiella
Cablevision
516-803-3947
jmaiella@cablevision.com
Optimum Lightpath
CONTACT: Jennifer Moritz of Zer0 to 5ive, +1-917-748-4006, jmoritz@0to5.com, for Optimum Lightpath; or Jim Maiella of Cablevision, +1-516-803-3947, jmaiella@cablevision.com
Web site: http://www.optimumlightpath.com/
CSC Launches OmniLocation Suite of Visibility Service OfferingsInnovative Technologies Provide New Level of Visibility into Operations
FALLS CHURCH, Va., June 19 /PRNewswire/ -- CSC announced today the launch of its OmniLocation suite of enterprise visibility solutions. The offering will provide public and private sector companies with a new level of visibility to improve the safety, security and efficiency of their employees and operations.
OmniLocation integrates location-based systems data, such as GPS and RFID, with static and dynamic information about people, equipment, vehicles, assets and infrastructure. Organizations can monitor the real-time location and status of assets in motion or at rest through a single, interactive, real-world Web interface using Google Earth products and Web 2.0 methods. In addition, the interface can integrate multiple location and mobile asset tracking systems, including inventory management, vehicle tracking, access control, and status and maintenance schedules of infrastructure.
OmniLocation is available in three service offerings designed for specific needs: Location Object Field Tracking (LOFT), Location Intelligence Safety Application (LISA), and Chain of Custody Asset Tracking (CoCAT).
OmniLocation's LOFT solution is designed to help organizations visualize, protect and account for mobile assets including lone workers (e.g., pipeline inspectors) and vehicles in the field. It provides a contextual, user-friendly view of objects tracked from three sources -- overall perspective, current data reports and historical background. LOFT underwent a test drive during the Amgen Tour of California professional cycling race, giving cycling fans a "bird's-eye view" of the race by tracking riders online during the race.
LISA enables organizations to visualize people, vehicles and assets that are moving or dispersed throughout a facility. The solution integrates indoor (RFID) and outdoor (GPS) location information data, object attributes, communications, and context and association information to track, map and model enterprise operations in real-time. LISA combines situation awareness with location information to help improve safety and security, prevent accidents and can be used to account for personnel in an emergency.
CoCAT provides companies with reliable accountability and a visible chain of custody during the transportation of high value, hazardous or dangerous materials to help eliminate fraud and comply with materials handling legislation. The solution combines fleet, asset and identity management, and biometrics with location tracking information (GPS and RFID) to verify and monitor truck, trailer, driver-custodian, shipper and receiver authentication.
"Lack of visibility of people, assets, vehicles and infrastructure blinds organizations to safety, security and efficiency issues, and can be measured in unrealized profitability as well as lost revenue, productivity and theft," said Daniel Munyan, Logistics Solution Architect for CSC's North American Public Sector business unit. "OmniLocation integrates real-time location technology, sensor data, context information and legacy enterprise applications to create useful communications and presentation tools for our clients. In addition, CSC's commitment to ongoing research and development ensures that OmniLocation implementations are scalable and support a high degree of customization."
About CSC
CSC is a leading information technology (IT) services company. CSC's mission is to be a global leader in providing technology-enabled business solutions and services.
With approximately 90,000 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. Headquartered in Falls Church, Va., CSC reported revenue of $16.5 billion for the 12 months ended March 28, 2008. For more information, visit the company's Web site at http://www.csc.com/.
CSC
CONTACT: Rich Venn, Media Relations, Corporate, +1-310-615-3926, rvenn@csc.com, or Janet Herin, Manager, Media Relations, Corporate, +1-310-615-1693, jherin@csc.com, both of CSC
Web site: http://www.csc.com/
Ingram Micro Named Distributor of the Year by Samsung Information Technology DivisionDistributor's new Digital Signage Division and best-in-class Solution Centers recognized as instrumental to Samsung's growth in 2007
SANTA ANA, Calif., June 19 /PRNewswire/ -- Ingram Micro today announced it was named the 2007 Pro AV Distributor of the Year by Samsung Electronics America for the second year in a row.
According to Samsung's vice president of commercial sales and marketing Christopher Franey, Ingram Micro was awarded the 2007 Pro AV Distributor of the Year for its ongoing investment in digital signage and putting in place programs and offerings that more than doubled its year-over-year sales revenues with Samsung. Franey also called out Ingram Micro's partner enablement resources including its dedicated Digital Signage Division and bi-coastal Solution Centers, which hosted several training events and boot camps for more than 700 existing and potential Samsung partners throughout 2007.
"Samsung is proud to have Ingram Micro once again earn the honor of being named our Large Format Display distributor of the year award," said Franey. "Samsung is dedicated to fostering successful partnerships within the channel and we're proud to recognize Ingram Micro's integral part in taking Samsung large format displays to market."
"Samsung is a leading innovator in the Digital Signage market and valued manufacturer to us and our channel partners," says Kevin Prewett, vice president, Digital Signage Division and vendor management, Ingram Micro U.S. "We are pleased to once again be awarded the Pro AV Distributor of the Year by Samsung and look forward to building upon our successes and enabling more partner growth through our dedicated Digital Signage Division and Solution Centers."
About Samsung's Information Technology Division
Samsung's Information Technology Division (ITD) markets a complete line of award-winning LCD monitor products, including professional large format LCD and Plasma displays. ITD also markets an award-winning line of color and monochrome laser printers and multifunction devices and the family of Samsung Q1 Ultra-Mobile Personal Computers (UMPC). Samsung ITD is committed to supporting the needs of its channel partners. Based in Irvine, California, ITD is a division of Samsung Electronics America (SEA), a U.S. subsidiary of Samsung Electronics Company, Ltd. (SEC). The SEA organization oversees the North American operations of Samsung including Samsung Telecommunications America, LP, Samsung Electronics Canada, Inc. and Samsung Electronics Mexico, Inc. Please visit http://www.samsung.com/ for more information or call 1-800-SAMSUNG for more information.
About Ingram Micro's Digital Signage Division
The Digital Signage Division of Ingram Micro Inc. is the leading distributor within the digital signage market offering the complete digital signage solution via existing technologies. Solution providers and vendors benefit from the Digital Signage Division as it offers premier support through a dedicated team of professionals. With offices and distribution centers across North America, Ingram Micro's Digital Signage Division delivers a comprehensive portfolio of products and services to technology integrators around the world. For more information, visit http://www.ingrammicro.com/digitalsignage.
About Ingram Micro
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves 150 countries and is the only broad-based global IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.
Ingram Micro
CONTACT: Marie Meoli of WhiteFox Marketing & Communications, +1-714-680-0335, marie.meoli@whitefoxpr.com, for Ingram Micro
Web site: http://www.ingrammicro.com/ http://www.ingrammicro.com/digitalsignage http://www.samsung.com/
Telestone Announces Latest Business Progress in Russia and Middle East
BEIJING, June 19 /Xinhua-PRNewswire-FirstCall/ -- Telestone Technologies Corporation Ltd. ("Telestone" or the "Company") , a leading developer and provider of wireless communication coverage solutions based in the People's Republic of China, today announced it had participated in two international Telecom exhibitions in Russia and the Middle East in May and made business progress in these areas.
SVYAZ-EXPOCOM exhibition held in Moscow is the most famous and important exhibition in Russia. Through attending this exhibition, Telestone improved brand popularity in Russia and the Commonwealth of Independent States. Telestone not only developed a closer relationship with current clients but also explored a bunch of partners, as well as obtained contacts with several large local carriers, which has provided a good foundation for cooperation with local carriers.
During the exhibition, Wang Jianjun, President of Beijing Telestone Communication Technology Corp. Ltd, accepted an interview with IKS, the most famous local communication magazine. IKS released this interview on their website right after the exhibition.
Since 2005, Telestone has started to expand its business into international markets, and has established its first representative office in Vietnam. After that, overseas offices were gradually built in Latin America, South Africa and Russia, and there are plans to establish the European office by the end of 2008.
Mr. Wang commented, "The business from these representative offices account for 10% now, and we believe that the proportion can reach up to 30% in the end of 2008 and 50% in the same time of 2009. I am sure the revenue from the international market will be more than that from the domestic market, and international business will be the most important support to Telestone one day."
Telestone intended to promote the Base Station to the Russian market during this exhibition. Base stations of Telestone are applied to various telecom systems such as GSM, WCDMA, CDMA1X, CDMA-EVDO. In addition, Telestone is also promoting its Passive Products including all types of antennas, power splitters, couplers, filters and so on.
Mr. Wang talked about the promotion plan in the Russian market, "Before entering the market, we had delineated two directions to move forward in. Firstly, through close cooperation with business partners, we gained a large market share in the Russian market, and we also spent lots of effort promoting our wireless coverage solutions; Secondly, we tried to build good and close relationships with main carriers in Russia, providing advanced products and solutions.
For more information please refer to:
http://www.svyazexpo-online.ru/news/2197739s465887.html
MECOM 2008
After the exhibition in Moscow, on 26th May Telestone attended the second Middle East telecom exhibition in Abuzabi (MECOM 2008), which is one of the most influential professional exhibitions in the Middle East. Many international companies as well as two of the biggest mobile carriers, Etisalat and Du, attended this exhibition.
Lots of companies started to know Telestone through this exhibition. WFDS- TM, which is one of the most advanced products and solutions, had particularly attracted local companies' attention and positive remarks from them. Through this exhibition, Telestone investigated the Middle East Telecom markets, especially in the United Arab Emirates.
Telestone had already built initial cooperation intentions with many local companies, which cleared the road of expanding to the markets of the United Arab Emirates. In addition to the United Arab Emirates, Telestone has built a partnership with Iranian companies and companies from other countries to explore the local telecom markets. In particular, Iranian companies and Telestone had already progressed to the essential bidding to get started on the bidding together phase.
About Telestone Technologies Corporation
Telestone provides wireless communications coverage solutions primarily in the PRC. These solutions include products such as repeaters, antennas and radio accessories. Telestone also provides services that include project design, project management, installation, maintenance and other after-sales services. Telestone currently has approximately 800 employees. For more information please visit http://www.telestone.com/ .
Safe Harbor Statement
Statements about the Company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward-looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The Company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the Company undertakes no obligation to update forward-looking statements.
For further information please contact:
Telestone Technologies Corporation Ltd.
Fang Cui
Tel: +86-10-8367-0088 x1202
Email: cuifang@telestone.com
Nick Lee
Secretary of The Board
Tel: +86-10-8367-0088 x1002
Email: nickl@telestone.com
Telestone Technologies Corporation Ltd.
CONTACT: Telestone Technologies Corporation Ltd. - Fang Cui, +86-10- 8367-0088 x1202, or cuifang@telestone.com; Nick Lee, Secretary of The Board, +86-10-8367-0088 x1002, or nickl@telestone.com
Web Site: http://www.telestone.com/ http://www.svyazexpo-online.ru/news/2197739s465887.html
ProLink's ProStar GPS Now in Play at Green Valley Ranch Golf ClubAward-Winning Denver Jewel Chooses Industry Leader in Customer Support, Revenue Generation
CHANDLER, Ariz., June 19 /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 announces the Green Valley Ranch Golf Club (Denver, Colo.) now features the ProLink Solutions ProStar GPS system used at many of the world's most famous golf courses.
The Perry Dye-designed Green Valley Ranch Golf Club consistently earns rave reviews and accolades. In 2007, the readers of Colorado Avid Golfer named it the Most Family-Friendly Course, Most Female-Friendly Course and Best Overall Value while calling the 639-yard, par-5 18th the Best Finishing Hole. Green Valley Ranch blends natural wetlands, creeks and giant cottonwoods into a stirring golf experience.
Green Valley Ranch previously featured ProLink's GameStar GPS system. Last year, ProLink posted a renewal rate of approximately 90 percent on expiring leases.
"We're excited to add ProLink's ProStar GPS to the amenities at Green Valley Ranch. Our guests will enjoy and appreciate the excellent graphics and strategic help the system provides," says Matt Bryant, Director of Golf at Green Valley Ranch. "On the operations side, we rely on ProLink to keep the pace of play moving, promote restaurant and pro shop specials, and attract extra tournament play with the scoring software. We consider it a necessity for managing the course and maximizing revenue."
"Green Valley Ranch Golf Club ranks among Denver's premier golf operations, and we are proud to call the club a trusted partner," says Lawrence D. Bain, CEO of ProLink Solutions. "We've forged and maintained long-term relationships with upscale courses like Green Valley Ranch thanks to our superior technology, reliability and commitment to customer support. The return on investment our system delivers makes ProLink the clear choice for golf course GPS."
With ProLink's patented, 10.4" high-resolution color screen -- the industry's largest -- Green Valley Ranch'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 Green Valley Ranch will also be able to order food and beverage items with a touch of a button on the ProLink screen.
For more information on Green Valley Ranch Golf Club, visit http://www.gvrgolf.com/ or call 303.371.3131.
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, for ProLink Holdings Corp.
Web site: http://www.goprolink.com/ http://www.gvrgolf.com/
Harris Corporation Selected for Potential $58 Million Contract for New NASA Space Suit Communications SystemSoftware-defined Radios Are Key Component of Constellation Program Extravehicular Activity
MELBOURNE, Fla., June 19 /PRNewswire-FirstCall/ -- Harris Corporation , an international communications and information technology company, has been selected for a potential seven-year, $58 million contract to provide the RF communications/navigation system for the next-generation space suit supporting NASA's Constellation program. Harris is a member of the Oceaneering International, Inc. team.
The primary goals of NASA's Constellation Program are to maintain an American presence in low Earth orbit, to return to the moon for purposes of establishing an outpost, and to lay a foundation to explore Mars and beyond in the first half of the 21st century.
Under the new Constellation Space Suit System (CSSS) contract, Harris will supply a radiation-hardened, software-defined radio (SDR); a voice-only contingency radio; and low profile antennas. The SDR provides the flexibility and adaptability required to accommodate evolving voice and data networking requirements of future lunar missions with the goal of future-proofing the space suit's communications system.
The new modular space-suit system will include two configurations for individual crewmembers during Orion missions: one for low Earth orbit, and a second for lunar surface extravehicular activity. It is the first new U.S. space suit to be developed since those designed for the Space Shuttle program. NASA awarded the contract to the Oceaneering International team last week to design, build, test, certify, produce, process, and integrate the new space suit system.
"This award represents a strategic win for Harris in a market that we have targeted for growth. Harris technology will help NASA realize its vision for the next generation of space exploration," said Frank Van Rensselaer, vice president and senior executive account manager for NASA Programs at Harris Government Communications Systems. "We are very pleased to be working with Oceaneering International on this important initiative that helps to ensure the comfort and safety of our nation's astronauts, while providing them the most advanced communications technology available."
Harris has supported major NASA programs since the 1960s, including the Space Shuttle and the International Space Station. As NASA began Project Constellation, which includes a new generation of spacecraft and other space platforms, Harris launched a strategic growth initiative to pursue new opportunities with NASA. Harris is very pleased to join the contractor team that will support future missions to the Moon and beyond.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of more than $5 billion and 16,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com/.
Harris Corporation
CONTACT: Sleighton Meyer, Harris Government Communications Systems, +1-321-727-6514, sleighton.meyer@harris.com, Jim Burke, Harris Corporation, +1-321-727-9131, jim.burke@harris.com, or Marc Raimondi, Harris Corporation - Washington, D.C., +1-202-729-1738, marc.raimondi@harris.com
Web site: http://www.harris.com/
Steelcase Inc. Annual Meeting of Shareholders to be Webcast
GRAND RAPIDS, Mich., June 19 /PRNewswire-FirstCall/ -- Steelcase Inc. will webcast their Annual Meeting of Shareholders on Thursday, June 26, 2008, beginning at 11:00 am EDT. Details and links to the webcast are available at http://www.steelcase.com/ir. A replay of the webcast will be available on the company's website shortly following the conclusion of the meeting.
About Steelcase Inc.
Steelcase, the global leader in the office furniture industry, helps people have a better work experience by providing products, services and insights into the ways people work. The company designs and manufactures architecture, furniture and technology products. Founded in 1912 and headquartered in Grand Rapids, Michigan, Steelcase serves customers through a network of over 600 independent dealers and approximately 13,500 employees worldwide. Fiscal 2008 revenue was $3.4 billion. Learn more at http://www.steelcase.com/.
Steelcase Inc.
CONTACT: Investor Contact, Raj Mehan, Investor Relations, Media Contact, Jeanine Holquist, Public Relations, both of Steelcase Inc., +1-616-698-3765
Web site: http://www.steelcase.com/ http://www.steelcase.com/ir
Spansion Broadens Strategy for Partnerships in Technology Development and ManufacturingTo Focus Capital on Leading-Edge Technology and Resources for Margin Enhancing Opportunities
SUNNYVALE, Calif., June 19 /PRNewswire-FirstCall/ -- Spansion Inc. , the world's largest pure-play provider of Flash memory solutions, today announced the broadening of its corporate strategy to create strategic alliances, with plans to transfer certain assets to third parties and establish manufacturing and technology partnerships. Spansion plans to focus its own capital investments on the accelerated development of leading-edge MirrorBit(R) Flash memory technology, the development of value-added, high margin solutions, as well as its state of the art 300-millimeter SP1 Flash memory manufacturing facility in Aizu-Wakamatsu, Japan.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060118/SFW077LOGO)
Spansion initiated this strategy in September 2006 when the company entered into an agreement to divest its JV1 and JV2 manufacturing facilities to Fujitsu. This transaction resulted in approximately $150 million in cash to Spansion.
"The plan to partner through strategic alliances is a deliberate program to focus investments and resources on strategic, differentiated and value- added business opportunities," said Bertrand Cambou, CEO of Spansion. "At the same time, we can focus our investments and support the right mix of assets to maintain and increase our competitive advantage."
The strategic partnerships are initially anticipated to cover three primary focus areas: development of new technologies; final test and assembly; and mature and trailing-edge wafer manufacturing. As part of the strategy, Spansion plans to continue to partner with foundries for the production of high volume commodity products, enabling Spansion to benefit from the scale of much larger players. In addition, the company plans to transfer some of its world-class manufacturing, test and assembly assets to third parties, who can leverage those capabilities to address a broader diversified customer base, while providing Spansion the same level of service and support at a competitive cost. As a result, Spansion expects to focus its capital on its own core competency, the manufacturing and development of leading-edge MirrorBit Flash memory technology while leveraging the expertise of its partners.
About Spansion
Spansion is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing and selling Flash memory solutions. For more information, visit http://www.spansion.com/.
Cautionary Statement
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding including plans to transfer certain manufacturing and technology development assets to third parties and establish related partnerships, plans to focus capital investments on: (i) the accelerated development of leading-edge MirrorBit(R) Flash memory technology; (ii) the development of value-added, high margin solutions; and (iii) the company's 300-millimeter SP1 Flash memory manufacturing facility in Aizu- Wakamatsu, Japan, the expectation that planned strategic partnerships will cover three primary focus areas: (i) development of new technologies; (ii) final test and assembly; and (iii) mature and trailing-edge wafer manufacturing, plans to continue to partner with foundries for the production of high volume commodity products and the expectation to benefit from the scale of much larger players, plans to transfer manufacturing, test and assembly assets to third parties, while providing the company the same level of service and support at a similar cost. Investors are cautioned that the forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from the company's current expectations. Risks that the company considers to be the important factors that could cause actual results to differ materially from those set forth in the forward-looking statements include the possibility that the company is unable to identify qualified and interested strategic partners or, if such partners are identified, negotiate favorable agreements with such partners, that prospective partners are unable to obtain necessary financing to complete any proposed transactions, that the planned outsourcing of certain services does not generate the expected cost savings, demand for the company's Flash memory products will be lower than currently expected; that average selling prices may decline; loss of key intellectual property arrangements creates a greatly increased risk of patent or other intellectual property infringement claims; the high cyclicality of the Flash memory market which has experienced severe downturns; that adverse financial market conditions may impeded access to or increase the cost of financing operations and investments; that Spansion may not be effective in expense reduction efforts; that OEMs will increasingly choose NAND-based Flash memory products over the company's MirrorBit architecture-based Flash memory products for their applications; that the company has a significant amount of debt, and such debt could subject us to restrictive covenants; that the company may not achieve facilities and capacity implementation schedules as a result of factors such as insufficient cash flows and unavailable external financing; that the company may lose a key customer, or experience a reduction of demand from a key customer; that the company will not successfully develop, introduce and commercialize new products and technologies or to accelerate our product development cycle; that competitors may introduce new memory or other technologies that may make our Flash memory products uncompetitive or obsolete; that the company may fail to successfully develop next generation products; customers' ability to change booked orders may lead to excess inventory; that the company's investments in research and development may not lead to timely improvements in technology; that the company may experience manufacturing constraints or fail to achieve manufacturing efficiencies; the company may experience manufacturing disruptions of suppliers interrupt supply or increase prices for raw materials; that Spansion may not realize the expected value of Saifun's NROM technology; the merger with Saifun may not result in benefits that Spansion anticipates as a result of integration or other challenges; and intellectual property claims or litigation could cause the company to incur substantial costs or pay substantial damages or prohibit sales of its products. The company urges investors to review in detail the risks and uncertainties in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2007 and the company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 30, 2008. The company assumes no obligation to update any forward-looking statements or information included in this press release.
Spansion(R), the Spansion Logo(R) , MirrorBit(R), MirrorBit(R) Eclipse(TM), ORNAND(TM), ORNAND2(TM), HD-SIM(TM) and combinations thereof, are trademarks of Spansion LLC. Spansion, the Spansion Logo and MirrorBit are registered in the US and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060118/SFW077LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Spansion Inc.
CONTACT: Press, Courtney Brigham of Spansion Inc., +1-408-616-5056; or investors, Linda Rothemund, +1-415-445-3236, linda@marketstreetpartners.com, for Spansion Inc.
Web site: http://www.spansion.com/
Tri Palm International Turns to Oracle for Business Intelligence InitiativeManufacturer Consolidates Reporting from Oracle's JD Edwards World in Four Weeks with Oracle Business Intelligence Suite Enterprise Edition and Oracle Data Integrator
REDWOOD SHORES, Calif., June 19 /PRNewswire-FirstCall/ --
-- Oracle today announced that Tri Palm International has deployed
Oracle(R) Business Intelligence Suite Enterprise Edition (Oracle BI
Suite EE) and Oracle Data Integrator as the foundation for its
corporate business intelligence initiative.
-- Tri Palm International, headquartered in Columbus, Ohio, manufactures
and distributes a wide range of water dispensing equipment under the
OASIS and Sunroc brands.
-- Following a six month evaluation process, Tri Palm International
selected Oracle BI Suite EE and Oracle Data Integrator, both components
of Oracle Fusion Middleware, to help consolidate financials and sales
reporting from Oracle's JD Edwards World Release A7.3 in the U.S. and
Europe.
-- The company chose Oracle BI software for its ease-of-use, ability to
extend intelligence capabilities to JD Edwards World, and for its rapid
deployment capability.
-- With the help of Oracle Consulting, Tri Palm International deployed
Oracle BI Suite EE and Oracle Data Integrator in the span of four weeks
(September 2007) delivering comprehensive working financial and sales
reports to executive management, financial and sales organizations.
-- Tri Palm International expects to extend their BI system to
manufacturing, engineering, accounts receivable and accounts payable
departments this calendar year.
Supporting Quote
"Ease of use and support for JD Edwards World were major factors in selecting Oracle for our BI initiative," said Michael Leibold, Corporate Controller, Tri Palm International. "Oracle BI Suite EE users have ability to easily drill down to transactional details, customize reports and conduct ad hoc queries as needed. The point and click nature of the software allows users to quickly pick up and go with limited training -- taking a load off of IT in the process."
Supporting Resources
Related Resources
About Oracle Enterprise Performance Management and Business Intelligence:
http://www.oracle.com/epm
About Oracle Data Integrator:
http://www.oracle.com/products/middleware/oracle-data-integrator.html
About Oracle's JD Edwards World:
http://www.oracle.com/applications/jdedwards-world.html
To download a free, evaluation version of Oracle Data Integrator:
http://www.oracle.com/technology/software/products/ias/htdocs/101310.html
To download a free, evaluation version of Oracle BI Suite EE Plus, go to: http://www.oracle.com/technology/software/products/ias/htdocs/101320bi.html
Terms, conditions and restrictions apply.
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/.
Trademarks
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 Corporation
CONTACT: Eloy Ontiveros of Oracle Corporation, +1-650-607-6458, eloy.ontiveros@oracle.com; or Kristin Reeves of Blanc & Otus, +1-415-856-5145, kreeves@bando.com, for Oracle Corporation
Web site: http://www.oracle.com/
WD's Third-Generation High Capacity Enterprise SATA Hard Drives Offer New and Enhanced Features and New Electronics for Reliability in Demanding Environments
LAKE FOREST, Calif., June 19 /PRNewswire-FirstCall/ -- Addressing the growing enterprise market for highly reliable high-capacity storage, WD(R) today announced it is now shipping the new WD RE3 SATA hard drives, the company's latest generation of "RE" family drives. As data centers become larger and more complex, WD's third-generation high capacity enterprise SATA hard drives enhance vibration and shock tolerance and deploy new electronics to increase performance approximately 20 percent and by as much 60 percent in high-vibration environments.
"WD has continued to leverage its extensive experience gained from previous generation enterprise drives, as well as our enterprise-class WD VelociRaptor(TM) drives, to develop a hard drive perfectly suited for servers, network attached storage and storage networks," said Tom McDorman, vice president and general manager of enterprise storage solutions for WD. "WD's RE3 family offers the best combination of enhanced features, superior reliability, and optimum performance for enterprise applications."
In line with the WD RE drive heritage, WD RE3 drives feature 1.2 million hours MTBF, native command queuing (NCQ), time limited error recovery (TLER), and an extensive and enhanced testing process to ensure long-term reliability for demanding enterprise applications.
WD RE3 Features
Dual processor -- Twice the processing power that results in a 20
percent performance improvement over the previous generation.
RAFF(TM) technology -- Resulting in up to 60 percent performance
improvement over previous generation drives, WD's fourth-generation RAFF
technology includes sophisticated electronics to monitor the drive and
correct both linear and rotational vibration simultaneously, in real
time for maximum performance in high vibration environments.
IntelliSeek(TM) technology -- Calculates optimum seek speeds to lower
power consumption, noise, and vibration in active seek modes without
degrading performance.
Multi-axis shock sensor -- An additional third sensor has been added to
RE3 models to automatically detect the subtlest shock events and
compensates to protect the data.
RAID-specific, Time-Limited Error Recovery (TLER) -- Prevents drive
fallout caused by the extended hard drive error-recovery processes
common to desktop drives.
Third-generation dynamic fly height -- With this next generation dynamic
fly height technology, each read-write head's fly height is adjusted in
real time for optimum reliability.
Thermal extended burn-in test -- Extended burn-in testing with thermal
cycling added to ensure only the most robust drives are produced as RAID
Edition.
NoTouch(TM) ramp load technology -- The recording head never touches the
disk media ensuring significantly less wear to the recording head and
media as well as better drive protection in transit.
Price and Availability
WD RE3 500 GB (model WD5002ABYS), 320 GB (model WD3202ABYS) and the 250 GB (model WD2502ABYS) hard drives are available now through select distributors and resellers. Manufacturer's Suggested Retail Price (MSRP) for the WD RE3 500 GB is $119, the 320 GB is $89 and the 250 GB is $79 USD. WD RE3 drives are covered by a five-year limited warranty. More information about WD RE3 enterprise drives may be found on the company's Web site at http://www.wdc.com/en/products/Products.asp?DriveID=489.
About WD
WD, one of the storage industry's pioneers and long-time leaders, provides products and services for people and organizations that collect, manage and use digital information. The company produces reliable, high-performance hard drives that keep users' data accessible and secure from loss. WD applies its storage expertise to consumer products for external, portable and shared storage applications.
WD was founded in 1970. The company's storage products are marketed to leading systems manufacturers, selected resellers and retailers under the Western Digital and WD brand names. Visit the Investor section of the company's Web site (http://www.westerndigital.com/) to access a variety of financial and investor information.
WD is a registered trademark in the U.S. and other countries; WD RE, WD Velociraptor, IntelliSeek, NoTouch and RAFF are trademarks of Western Digital Technologies, Inc. All other trademarks herein are property of their respective owner. One gigabyte (GB) = 1 billion bytes. One terabyte (TB) = one trillion bytes. Total accessible capacity varies depending on operating environment.
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Western Digital Technologies
CONTACT: Heather Skinner, Public Relations, +1-949-672-7920, heather.skinner@wdc.com, or Bob Blair, Investor Relations, +1-949-672-7834, robert.blair@wdc.com, both of Western Digital Technologies
Web site: http://www.westerndigital.com/
Circuit City Stores, Inc. Reports First Quarter Results- Company Exceeds Pre-tax Guidance and Reaffirms Fiscal 2009 Outlook -
RICHMOND, Va., June 19 /PRNewswire-FirstCall/ -- Circuit City Stores, Inc. today reported results for the first quarter ended May 31, 2008.
"In the first quarter, we continued to see improvement in many of our operating performance measures," said Philip J. Schoonover, chairman, president and chief executive officer of Circuit City Stores, Inc. "We are rebuilding our selling culture and focusing on creating a good first and last impression with the customer. We have seen improved trends in our store close rate and in our services and accessories attachments, and we are delivering a better customer experience in our stores as evidenced by the upward trends in our third-party mystery shop scores. In short, the quarter represented improved execution and solid, steady progress towards our goals, and we expect to start to see year-over-year improvements in our financial results beginning in the second half of the year. I want to thank our associates for maintaining a sharp focus on expense controls, in order to build a more competitive cost structure, as well as for their hard work and dedication throughout the quarter."
Statements of Operations Highlights
Three Months Ended May 31
2008 2007
(Dollar amounts in millions % of % of
except per share data) $ Sales $ Sales
Net sales $2,301.1 100.0% $2,485.5 100.0%
Gross profit $478.7 20.8% $560.2 22.5%
Selling, general and
administrative
expenses $640.0 27.8% $648.4 26.1%
Loss from continuing
operations before
income taxes $(161.8) (7.0)% $(82.5) (3.3)%
Net loss from continuing
operations $(164.8) (7.2)% $(54.8) (2.2)%
Net loss $(164.8) (7.2)% $(54.6) (2.2)%
Loss from continuing
operations per share $(1.00) - $(0.33) -
Loss per share $(1.00) - $(0.33) -
Balance Sheets Highlights
May 31
(Dollar amounts in millions) 2008 2007 % Change
Cash, cash equivalents and
short-term investments $92.2 $364.1 (75)%
Merchandise inventory $1,686.3 $1,745.9 (3)%
Merchandise payable $933.2 $923.0 1%
Long-term debt, including
current installments $72.6 $55.9 30%
Stockholders' equity $1,332.7 $1,700.2 (22)%
Schoonover added, "As we previously announced, the board of directors is leading a process to explore strategic alternatives to enhance shareholder value, and that review continues. The board has not determined any course of action. As part of that process, today we filed a shelf registration statement with the Securities and Exchange Commission in order to give us greater flexibility to respond to strategic opportunities as they arise. Separately, during the quarter, we settled the potential proxy contest with Wattles Capital Management.
"In addition, the board of directors has suspended future dividend payments. We continue to believe that we have adequate liquidity to fund our turnaround but would prefer to conserve capital.
"Crisp execution of our retail turnaround efforts remains our primary focus. The outcome of those efforts will position Circuit City well for the future and help us to capitalize on the anticipated improvement in the macroeconomic climate during the second half of the fiscal year," concluded Schoonover.
A summary of results by segment is shown in Table 1.
Sales
For the first quarter ended May 31, 2008, net sales decreased 7.4 percent to $2.30 billion from $2.49 billion in the same period last year, with consolidated comparable store sales decreasing 11.3 percent. A summary of net sales results is shown in Table 2.
Domestic Segment Sales
For the first quarter, net sales for the domestic segment decreased 8.8 percent to $2.17 billion from $2.38 billion in the same period last year, with comparable store sales decreasing 12.2 percent. For the quarter, direct channel sales, including Web- and call center-originated sales, grew 3.0 percent. The direct channel sales growth was lower than historical year-over- year growth due primarily to a less aggressive promotional stance in categories such as PC hardware and televisions as the company seeks to maximize gross profit.
During the first quarter, the domestic segment opened five incremental Superstores and closed two other locations. Of these incremental Superstore openings, three were in the company's the city(TM) format.
The net sales represented by each major category for the periods ended May 31, 2008 and 2007, are shown in Table 3.
In the video category, Circuit City generated a slight double-digit comparable store sales decrease in the first quarter. Comparable store sales of flat panel televisions increased by a high-single digit. Total television comparable store sales experienced a single-digit decrease, as significant comparable store sales decreases in projection and tube televisions more than offset the flat panel television increase. Comparable store sales of digital imaging products and accessories and camcorders decreased by double digits.
In the information technology category, Circuit City generated a high- single-digit comparable store sales decrease in the first quarter. Comparable store sales of desktop computers declined by double digits, and comparable store sales of notebook computers increased by a low-single digit.
In the audio category, Circuit City generated a double-digit comparable store sales decrease in the first quarter. Comparable store sales of navigation products increased by a low-single digit. Comparable store sales of portable digital audio, mobile and home audio products declined by strong double digits.
In the entertainment category, Circuit City generated a high-single-digit comparable store sales decrease in the first quarter. Comparable store sales of video gaming products increased by double digits. Comparable store sales of video software and music software declined by double digits.
Domestic segment extended warranty net sales were $53.8 million, or 2.5 percent of domestic segment net sales, in the first quarter, compared with $73.7 million, or 3.1 percent of domestic segment net sales, in the same period last year. Firedog(SM) PC services and home theater installation revenues decreased 16 percent to $54.3 million in the first quarter from $64.4 million last year. Firedog(SM) PC services and home theater installation revenue performance in the prior year period was the second highest year-over- year dollar increase in the company's history due primarily to an effective home theater installation bundle offer and the benefits of the launch of Microsoft Windows Vista.
International Segment Sales
For the first quarter, net sales for the international segment increased 23.6 percent to $134.3 million from $108.6 million in the same period last fiscal year. The increase was driven by the favorable impact of fluctuations in foreign currency exchanges rates of 14 percent and the comparable store sales increase of 10.5 percent in local currency. These increases were partially offset by the impact of the year-over-year net decrease of 25 retail stores and dealer outlets.
Gross Profit
The consolidated gross profit margin was 20.8 percent in the first quarter compared with 22.5 percent in the same period last fiscal year, a decline of 174 basis points.
Domestic segment gross profit margin decreased 186 basis points from the prior year. A decrease in product margins was driven primarily by negative mix shifts within imaging and notebook computers as well as clearance activities and an increase in the mix of sales of notebook computers. Also contributing to the gross profit margin decrease was a decrease in extended warranty net sales. The year-over-year change in the gross margin rate was the smallest decline in five quarters as we saw improved performance in the television category, primarily driven by assortment and promotional mix shifts within the category as well as better retail execution.
The international segment's first quarter gross profit margin declined 337 basis points from the prior year period. The decrease resulted primarily from an increased mix of sales from clearance product across many categories as well as a mix shift from higher-margin categories.
Selling, General and Administrative Expenses
Selling, general and administrative (SG&A) expenses were 27.8 percent of consolidated net sales in the first quarter, compared with 26.1 percent in the same period last year, an increase of 173 basis points.
The domestic segment's expense-to-sales ratio increased 162 basis points from the prior year's rate. The increase primarily reflects the overall de- leveraging impact of lower sales. Also contributing to the increase was an increase of 124 basis points in expenses related to the 65 domestic segment Superstores that have opened during the past twelve months. Partially offsetting these increases was a decrease of 81 basis points in compensation costs that resulted primarily from the company's expense reduction initiatives.
The international segment's SG&A expense-to-sales ratio increased 171 basis points primarily due to a $7.5 million recovery related to a former subsidiary that was recorded in fiscal 2008. The recovery, which was not repeated in fiscal 2009, negatively impacted the expense-to-sales ratio increase by 691 basis points of international segment net sales.
A summary of SG&A expenses by category is shown in Table 4.
Income Tax Expense (Benefit)
For the first quarter of fiscal 2009, the company recorded an income tax expense of $3.0 million primarily related to discrete items. Due to the company's valuation allowance against the deferred tax assets of its U.S. operations, the company does not expect to incur income tax expense or benefit, excluding discrete items, associated with the domestic segment during fiscal 2009.
Net Loss from Continuing Operations
The fiscal 2009 first quarter net loss from continuing operations totaled $164.8 million, or $1.00 per diluted share, compared with $54.8 million, or 33 cents per diluted share, for the first quarter of fiscal 2008.
Financial Condition
At May 31, 2008, Circuit City had cash, cash equivalents and short-term investments of $92.2 million, compared with $364.1 million at May 31, 2007. The $271.9 million year-over-year decline in the cash position primarily reflects purchases of property and equipment and cash used in operations.
Merchandise inventory decreased 3.4 percent to $1.69 billion from $1.75 billion last year, driven primarily by continued focus on matching inventory levels to sales trends. Merchandise payable increased 1.1 percent to $933.2 million from $923.0 million. Consolidated and domestic segment net-owned inventory decreased by $69.8 million and $83.6 million, respectively, from the prior year.
At May 31, 2008, Circuit City had $72.6 million in long-term debt, primarily related to capital leases, and $55.0 million in short-term debt under the asset-based credit facility.
Capital expenditures, net of landlord reimbursements, for the first quarter totaled $38.1 million.
Stock Buyback
Circuit City did not repurchase stock during the first quarter. As of May 31, 2008, $233.7 million remained available for repurchase under the current authorization.
Fiscal 2009 Outlook
The company reaffirmed the following expectations for fiscal 2009:
-- Consolidated net sales relatively unchanged from the prior year
-- A mid-single digit domestic segment comparable store sales decline
-- Improvement in earnings from continuing operations before income taxes (EBT) as a percentage of consolidated net sales of 50 basis points to 100 basis points
-- No tax expense or benefit, excluding discrete items, associated with the domestic segment
-- Depreciation and amortization expense of approximately $185 million
-- A reduction in domestic segment net-owned inventory from February 29, 2008, to February 28, 2009, of $50 million to $100 million
-- 45 to 55 domestic segment Superstore openings, including 6 to 8 relocations
The company updated its forecast for capital expenditures, net of landlord reimbursements, to $120 million to $140 million, down from $130 million to $150 million.
The fiscal 2009 outlook is based on the following assumptions:
-- A continuation of current operating trends through the first half of fiscal 2009 and an improvement in second half trends
-- A continuation of weak macroeconomic trends, particularly in the first half of the fiscal year
-- Improved retail execution, leading to higher close rates and improved basket, offsetting a decline in store traffic
-- Sales growth in key product areas including LCD televisions, notebook computers and video gaming products, offset by sales declines in projection and tube televisions, desktop computers and portable audio products
-- Improvements in merchandise margins, shrink and markdowns
-- Low-single-digit percentage growth in SG&A dollars compared with fiscal 2008 driven by incremental and relocated store openings and increased compensation costs
For the second quarter, the company expects to record a loss from continuing operations before income taxes of $170 million to $185 million, compared with a loss of $128.2 million in the prior year second quarter. While the expected loss is larger than the prior year period, the year-over- year increase in the loss is significantly smaller than the increase in the first quarter loss. The primary driver of the difference in expected second quarter results from actual first quarter results is higher expenses associated with more store openings.
Due to operating improvements, traction against current sales- and gross margin-driving initiatives, and more favorable year-over-year comparisons, the company expects a gradual recovery in the second half of fiscal 2009. The company expects to see year-over-year improvements in operating results beginning in the third quarter and improved pre-tax profit from continuing operations in the fourth quarter as compared to fiscal 2008 results. The company believes that it has adequate cash and borrowing capacity to complete the next phase of the turnaround plan.
Domestic segment Superstore opening estimates are shown in Table 5. The timing of store openings depends upon a number of factors and can change during the year. All of the company's remaining openings for fiscal 2009 will be in the new the city(TM) format.
Conference Call Information
Circuit City will host a conference call for investors at 10:00 a.m. EDT today. Investors in the United States and Canada may access the call at (800) 399-0127. Other investors may access the call at (706) 634-7512. A live Web cast of the conference call will be available on the company's investor information home page at http://investor.circuitcity.com/.
A replay of the call will be available by approximately noon EDT today and will remain available through June 26. Investors in the United States and Canada may access the recording at (800) 642-1687, and other investors may dial (706) 645-9291. The access code for the replay is 48433262. A replay of the call also will be available on the Circuit City investor information home page.
About Circuit City Stores, Inc.
Circuit City Stores, Inc. is a leading specialty retailer of consumer electronics and related services. At May 31, the domestic segment operated 687 Superstores and 9 outlet stores in 158 U.S. media markets. At May 31, the international segment operated through 775 retail stores and dealer outlets in Canada. Circuit City also operates Web sites at http://www.circuitcity.com/, http://www.thesource.ca/ and http://www.firedog.com/.
Forward-Looking Statements
Statements made in this release, other than those concerning historical financial information, may be considered forward-looking statements, which are subject to risks and uncertainties, including without limitation: (1) the impact of pricing and promotional activities of the company's competitors and the company's response to those actions, (2) the pace of commoditization of consumer electronics, (3) the ability of vendors to fulfill merchandise orders and allocation commitments, (4) the impact of a significant change in the relationships with key vendors, (5) the company's ability to control and leverage expenses as a percentage of sales, (6) general economic conditions, including, without limitation, changes in interest rates, consumer sentiment and commodity pricing, (7) the company's ability to generate sales and margin growth through expanded service offerings, (8) the company's ability to continue to generate strong sales growth in key product categories and through its direct sales channel, (9) the impact of initiatives related to transforming retail processes and upgrading merchandising, point-of-sale and information systems on revenue and margin and the costs associated with these investments, (10) the availability of real estate that meets the company's criteria for new and relocating stores, (11) regulatory and litigation matters, (12) the availability of sources of liquidity to fund capital expenditures and working capital, (13) the company's strategic evaluation of the international segment, including the impact of changes in credit markets, (14) the company's ability to recover its deferred tax assets through future profitability and (15) the impact of any strategic alternatives that the company may pursue. Discussion of additional factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is set forth under Management's Discussion and Analysis of Results of Operations and Financial Condition in the Circuit City Stores, Inc. annual report on Form 10-K for the fiscal year ended February 29, 2008, and in the company's other SEC filings. A copy of the annual report is available on the company's investor information Web site at http://investor.circuitcity.com/.
CIRCUIT CITY STORES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
PERIODS ENDED MAY 31 (UNAUDITED)
(Amounts in thousands except per share data)
Three Months
2008 2007
NET SALES $2,301,074 $2,485,537
Cost of sales, buying and warehousing 1,822,400 1,925,352
GROSS PROFIT 478,674 560,185
Selling, general and administrative
expenses 640,009 648,354
OPERATING LOSS (161,335) (88,169)
Interest income 1,168 5,737
Interest expense 1,682 43
Loss from continuing operations
before income taxes (161,849) (82,475)
Income tax expense (benefit) 2,966 (27,663)
NET LOSS FROM CONTINUING OPERATIONS (164,815) (54,812)
EARNINGS FROM DISCONTINUED
OPERATIONS, NET OF TAX - 246
NET LOSS $(164,815) $(54,566)
Weighted average common shares:
Basic 164,949 165,842
Diluted 164,949 165,842
LOSS PER SHARE:
Basic:
Continuing operations $(1.00) $(0.33)
Discontinued operations $- $0.00
Basic loss per share $(1.00) $(0.33)
Diluted:
Continuing operations $(1.00) $(0.33)
Discontinued operations $- $0.00
Diluted loss per share $(1.00) $(0.33)
CIRCUIT CITY STORES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Amounts in thousands)
May 31
2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $90,848 $112,309
Short-term investments 1,329 251,789
Accounts receivable, net of allowance
for doubtful accounts 307,033 342,243
Merchandise inventory 1,686,314 1,745,934
Deferred income taxes, net of
valuation allowance 28,571 28,210
Income tax receivable 161,765 107,179
Prepaid expenses and other current
assets 73,698 80,619
Total Current Assets 2,349,558 2,668,283
Property and equipment, net of
accumulated depreciation 1,037,808 941,662
Deferred income taxes - 27,345
Goodwill 116,928 133,299
Other intangible assets, net of
accumulated amortization 17,551 19,839
Other assets 127,478 37,486
TOTAL ASSETS $3,649,323 $3,827,914
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Merchandise payable $933,190 $923,032
Expenses payable 287,448 242,810
Accrued expenses and other current
liabilities 325,270 358,292
Accrued compensation 60,558 52,007
Accrued income taxes 17,427 10,782
Short-term debt 55,000 4,675
Current installments of long-term
debt 11,801 6,905
Total Current Liabilities 1,690,694 1,598,503
Long-term debt, excluding current
installments 60,831 48,961
Accrued straight-line rent 150,241 135,471
Deferred rent credits 163,893 142,271
Accrued lease termination costs 75,640 71,694
Deferred income taxes, net of
valuation allowance 25,543 -
Other liabilities 149,750 130,825
TOTAL LIABILITIES 2,316,592 2,127,725
Stockholders' Equity:
Common stock 84,256 84,261
Additional paid-in capital 322,929 307,335
Retained earnings 809,624 1,266,534
Accumulated other comprehensive
income 115,922 42,059
TOTAL STOCKHOLDERS' EQUITY 1,332,731 1,700,189
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $3,649,323 $3,827,914
Table 1: Segment Performance Summary
Domestic Segment Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ Sales $ Sales
Net sales $2,166.8 100.0% $2,376.9 100.0%
Gross profit $434.1 20.0% $520.5 21.9%
Selling, general and administrative
expenses $593.4 27.4% $612.5 25.8%
Loss from continuing operations
before income taxes $(159.9) (7.4)% $(86.4) (3.6)%
International Segment Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ Sales $ Sales
Net sales $134.3 100.0% $108.6 100.0%
Gross profit $44.6 33.2% $39.7 36.6%
Selling, general and administrative
expenses $46.6 34.7% $35.9 33.0%
(Loss) earnings from continuing
operations before income taxes $(1.9) (1.5)% $3.9 3.6%
Table 2: Net Sales Summary
Three Months Ended May 31
Year- Comparable
Over- Store
(Dollar amounts in millions) Year Sales
2008 2007 Change Change(a)
Domestic segment net sales $2,166.8 $2,376.9 (8.8)% (12.2)%
International segment net sales 134.3 108.6 23.6% 10.5%
Net sales $2,301.1 $2,485.5 (7.4)% (11.3)%
(a) A store's sales are included in comparable store sales after the store has been open for a full 12 months. In addition, comparable store sales include Web- and call center-originated sales and sales from relocated and remodeled stores. The calculation of comparable store sales excludes the impact of fluctuations in foreign currency exchange rates.
Table 3: Net Sales by Category
Domestic Segment Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ sales $ sales
Video $889.4 41.0% $934.0 39.3%
Information technology 591.4 27.3 628.6 26.4
Audio 262.6 12.1 334.9 14.1
Entertainment 262.1 12.1 272.5 11.5
Warranty, services and other(a) 161.3 7.5 206.9 8.7
Total net sales $2,166.8 100.0% $2,376.9 100.0%
(a) Warranty, services and other includes extended warranty net sales; revenues from PC services, mobile installations, home theater installations and product repairs; net financing; and revenues from third parties for services subscriptions.
International Segment Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ sales $ sales
Video $25.6 19.0% $20.0 18.5%
Information technology 47.3 35.3 39.8 36.6
Audio 44.0 32.8 36.5 33.6
Entertainment 9.3 7.0 5.0 4.6
Warranty, services and other(a) 8.0 5.9 7.3 6.7
Total net sales $134.3 100.0% $108.6 100.0%
(a) Warranty, services and other includes extended warranty sales and product repair revenue.
Table 4: Selling, General and Administrative Expenses
Consolidated Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ Sales $ Sales
Store expenses $529.7 23.0% $556.7 22.4%
General and administrative expenses 99.1 4.3 85.5 3.4
Stock-based compensation expense 3.7 0.2 4.5 0.2
Remodel expenses 0.0 0.0 (0.0) (0.0)
Relocation expenses 1.0 0.0 1.1 0.0
Pre-opening expenses 6.4 0.3 0.5 0.0
Total $640.0 27.8% $648.4 26.1%
Domestic Segment Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ Sales $ Sales
Store expenses $492.1 22.7% $524.2 22.1%
General and administrative expenses 90.3 4.2 82.4 3.5
Stock-based compensation expense 3.5 0.2 4.3 0.2
Remodel expenses 0.0 0.0 (0.0) (0.0)
Relocation expenses 1.0 0.0 1.1 0.0
Pre-opening expenses 6.4 0.3 0.5 0.0
Total $593.4 27.4% $612.5 25.8%
International Segment Three Months Ended May 31
2008 2007
% of % of
(Dollar amounts in millions) $ Sales $ Sales
Store expenses $37.6 28.0% $32.6 30.0%
General and administrative expenses 8.8 6.6 3.1 2.9
Stock-based compensation expense 0.2 0.1 0.2 0.1
Total $46.6 34.7% $35.9 33.0%
Table 5: Domestic Segment Superstore Openings Estimates
Q1(a) Q2 Q3 Q4 FY09
Incremental Superstores 5 13-17 21-23 0-2 39-47
Relocated Superstores - 6-7 0-1 - 6-8
Total Superstore openings 5 19-24 21-24 0-2 45-55
(a) First quarter openings are actual. In February 2008, the company closed one store in advance of opening a replacement store in the second quarter of fiscal 2009. The replacement store is included in relocations for the second quarter of fiscal 2009.
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Circuit City Stores, Inc.
CONTACT: Bill Cimino, Director of Corporate Communications, +1-804-418-8163, or Jessica Clarke, Investor Relations, +1-804-527-4038, or Patty Whitten, Investor Relations, +1-804-527-4033, all of Circuit City Stores, Inc.
Web site: http://www.circuitcity.com/
RT Logic Announces Certification and Accreditation of RTGuard Cross Domain SolutionNew Product Enhances Security in Satellite Control Center Applications
COLORADO SPRINGS, Colo., June 19 /PRNewswire-FirstCall/ -- RT Logic, a wholly owned subsidiary of Integral Systems, Inc. , today announced the successful PL4 (Protection Level 4) C&A (Certification and Accreditation) of the RTGuard Cross Domain Solution product.
RT Logic's RTGuard(TM) is a cost-effective, low-risk, CDS (Cross Domain Solution). The PL4 C&A allows RTGuard to be quickly deployed in satellite control centers. The system provides secure, bi-directional transfer of control and status information across red/black boundaries for satellite control center applications connected to the AFSCN (Air Force Satellite Control Network) and/or dedicated remote tracking stations. RTGuard offers a transparent, high-assurance CDS for existing and new satellite programs using RT Logic's Telemetrix(R) systems such as the T505 and T508, and newer systems including the T501 and T500GT.
"To achieve centralized control and status of remote ground equipment, network-based control and status messages must eventually cross security boundaries," said Rob Andzik, RT Logic's Product Manager for RTGuard. He continued saying, "Past approaches include 'sneaker net,' firewalls, optical isolation, and even waivers that often solve only part of the problem and are no longer the most effective solutions. RT Logic's RTGuard represents a significant leap forward by providing an accredited, low-cost, off-the-shelf solution with direct application in numerous control center environments. RTGuard's turn-key design means that there is little to no impact to existing hardware and software."
RTGuard employs a single, proven AFSCN Core Rule-Set to monitor formatted message traffic between security domains. High-performance RTGuard components enable efficient and complete validation of all messages from multiple, concurrent front-end strings. Rule-sets for other message protocols such as scheduling, switch control, and file transfer may be added adjacent to the AFSCN core rule set, thereby creating a full-system guard solution tailored to an individual control center's requirements.
ABOUT RT LOGIC
RT Logic is a leading provider of products for ground-based applications, primarily for satellite and launch range operations. Known for exceptional innovation, performance, and support, RT Logic has delivered more than 2000 systems since its inception in 1997. RT Logic offers a complete line of Telemetrix(R) products used in systems for widely varied control center, ground antenna, and range applications. Since October 2002, RT Logic has operated as a wholly-owned subsidiary of Integral Systems, Inc.
ABOUT INTEGRAL SYSTEMS
Founded in 1982, Integral Systems is a leading provider of satellite ground systems and has supported more than 205 different satellite missions for communications, science, meteorological, and earth resource applications. Integral Systems was the first company to offer an integrated suite of COTS (Commercial Off-the-Shelf) software products for satellite command and control: the EPOCH IPS (Integrated Product Suite) product line. EPOCH IPS has become the world market leader in commercial applications with successful installations on five continents.
Through its wholly-owned subsidiary, SAT Corporation, Integral Systems provides satellite and terrestrial communications signal monitoring systems to satellite operators and users throughout the world. Through its Newpoint Technologies, Inc., subsidiary, Integral Systems also provides software for equipment monitoring and control to satellite operators and telecommunications firms. Integral Systems' Lumistar, Inc., subsidiary provides system- and board-level telemetry acquisition products. Integral Systems has approximately 500 employees working at its headquarters in Lanham, MD, and at other locations in the U.S. and Europe. For more information, visit http://www.integ.com/.
RT Logic
CONTACT: Steve Gills, Director of Business Development of RT Logic, +1-719-598-2801, sgills@rtlogic.com or Shany Seawright of Strategic Communications Group, +1-240-485-1081, sseawright@gotostrategic.com
Web site: http://www.rtlogic.com/ http://www.integ.com/
Energy Conversion Devices Upsizes and Prices Offering of 4.7 Million Shares of Common Stock and $275.0 Million of Convertible Senior Notes
ROCHESTER HILLS, Mich., June 19 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. , a global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, today announced the pricing of its public offering of 4,714,975 shares of common stock at $72.00 per share, and the pricing of its $275.0 million aggregate principal amount of 3.00% convertible senior notes due in 2013. The offering commenced on June 12, 2008 at 4,708,500 shares of common stock and $225.0 million aggregate principal amount of notes. ECD has also granted the underwriters of the offering of common stock an option to purchase up to an additional 190,500 shares of common stock and the underwriters of the offering of notes an option to purchase up to an additional $41.25 million aggregate principal amount of notes.
The notes will bear interest at a rate of 3.00% per year, payable on June 15 and December 15 of each year, commencing on December 15, 2008. The notes will mature on June 15, 2013. Holders of the notes may, under certain circumstances at their option, convert the principal amount of their notes into cash and, with respect to any amounts in excess of the principal amount, shares of ECD's common stock initially at a conversion rate of 10.8932 shares (equivalent to an initial conversion price of approximately $91.80 per share) per $1,000 principal amount of notes. The notes are also convertible on this basis at any time on or after March 15, 2013 and prior to the close of business on the business day immediately proceeding the maturity date. The applicable conversion rate will be subject to adjustments in certain circumstances. The notes will be senior unsecured obligations of ECD and will rank equal in right of payment with any future senior unsecured debt of ECD, and senior in right of payment to all of ECD's existing and future debt, if any, that is subordinated to the notes.
Concurrently with the notes offering, ECD is offering 4,714,975 shares of common stock. Of these, 3,444,975 shares will be lent by ECD to Credit Suisse International, or CSI, an affiliate of Credit Suisse Securities (USA) LLC, pursuant to a share lending agreement among ECD, Credit Suisse Securities (USA) LLC and CSI. Under the agreement, CSI is entitled to offer and sell such shares in order to facilitate the establishment of hedge positions by investors in the notes and potentially other securities ECD may issue in the future. Up to 721,675 of the shares borrowed may be used to facilitate such transactions on a delayed basis. ECD will not receive any of the proceeds from the sale of shares pursuant to the share lending agreement but will receive a nominal lending fee. The completion of the lending of shares pursuant to the share lending agreement is conditioned on the completion of the convertible notes offering. ECD expects that delivery of the shares of common stock pursuant to the share lending agreement will be made concurrently with the closing of the note offering.
While the borrowed shares will be considered issued and outstanding for corporate law purposes, because the shares lent pursuant to that agreement must be returned to ECD prior to June 15, 2013, the company believes that under U.S. generally accepted accounting principles, the borrowed shares will not be considered outstanding for the purpose of computing and reporting earnings per share.
Closing of the public offerings of shares and notes is expected to occur on June 24, 2008, and will be subject to the satisfaction of various customary closing conditions. ECD intends to use the net proceeds from the offering of convertible notes and the underwritten equity offering for the expansion of its solar laminate production in connection with its plan to reach 1 GW of capacity by 2012 and for general corporate purposes.
Credit Suisse Securities (USA) LLC and UBS Securities LLC are acting as the representatives of the underwriters and the book-running managers for the common stock offering and the convertible note offering, and JPMorgan Chase & Co., Deutsche Bank Securities, and Lazard Ltd. are serving as co-managers.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
A registration statement relating to these securities (including a prospectus and two prospectus supplements) has been filed with the Securities and Exchange Commission. Prospective investors should read the prospectus, prospectus supplements, the registration statement and other documents Energy Conversion Devices has filed with the SEC for more complete information about Energy Conversion Devices and this offering. These documents are available at no charge by visiting EDGAR on the SEC Web site at http://www.sec.gov/. Alternatively, a prospectus and prospectus supplement for the common stock offering and/or for the convertible notes offering may be obtained by contacting the prospectus department of Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010, (tel: 1 800-221-1037) or UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171, (tel: 1-212-821-3000).
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the offering, the use of the net proceeds from the offering and the belief that the borrowed shares will not be considered outstanding for the purpose of computing and reporting earnings per share. These forward-looking statements involve risks and uncertainties. Factors that could cause actual events to differ materially from those predicted in such forward-looking statements include market conditions, potential fluctuations in Energy Conversion Devices' stock price, management's broad discretion over the use of the net proceeds of the offering, or changes in U.S. generally accepted accounting principles or in their interpretation. Certain of these risks and others are detailed from time to time in Energy Conversion Devices' periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K for the year ended June 30, 2007, its quarterly report on Form 10-Q for the quarter ended March 31, 2008 and in the registration statement.
Energy Conversion Devices, Inc.
CONTACT: Mark T. Trinske, Vice President, Investor Relations & Corporate Communications, of Energy Conversion Devices, Inc., +1-248-299-6063
Web site: http://www.ovonic.com/
Alliance Data Signs Long-Term Agreement to Provide Private Label Credit Card Services for Fast-Growing Web and Catalog Retailer Peach DirectPrivate Label Credit Card Program Launch to Coincide with Re-branding Effort
DALLAS, June 19 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation , a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced it has signed a long-term agreement with PD Financial Corporation, which currently operates under the trade name PeachDirect, to provide private label credit card services for its catalog and web channels. In early fall 2008, PD Financial plans to launch its new brand identity as VENUE for both its catalog and web channels, with the private label credit card program launch coinciding with the new brand. Headquartered in Los Angeles, PD Financial is a fast-growing retailer of luxury merchandise, including high-end brands of electronics (e.g., Panasonic, Sony, Bose, Toshiba); beauty/fashion accessories (Lancome, Prada, Yves Saint Laurent), jewelry and watches (TAG Heuer, Movado, ESQ, Armani, Gucci), and home products (Capresso coffee makers, luxury bedding/linens, Italian leather furniture), among others. PD Financial's sales in 2007 reached $200 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051024/ADSLOGO )
Under terms of the agreement, Alliance Data will provide private label credit card services including account acquisition and activation; receivables funding; card authorization; private label credit card issuance; statement generation; remittance processing; customer service functions; and marketing services. The card program will build customer loyalty and drive repeat purchasing through a customer rewards program, which will provide incentives that recognize and reward cardholders for their patronage.
"We selected Alliance Data to be our private label program partner not only for their retail and credit expertise, but for their sophisticated analytics and extensive marketing insights," said Ron Drori, chief executive officer of PD Financial Corporation. "Working with Alliance Data to understand better our customers' needs and purchasing behaviors, we have the ability to communicate more effectively, while also recognizing and rewarding our customers for their purchases. We're focused on engaging customers and building a loyal, long-term relationship with them, and this private label program is absolutely critical to making that happen."
"We are excited to be working with PD Financial, as we will leverage our extensive multi-channel retail expertise and tools to help them cultivate strong customer relationships and reinforce their new brand, VENUE," said Ivan Szeftel, president of Alliance Data Retail Services. "Together, we will drive their sales by providing value to the customer."
About PD Financial Corp.
PD Financial Corporation, a privately-held information-based direct retailer of brand-name consumer products is "making luxury affordable" by offering consumers financing and low monthly payments through its private label credit card. Headquartered in Los Angeles, PD Financial uses proprietary models and data mining techniques to target consumers through its catalogs and the web. PD Financial offers leading brand-name consumer electronics, computers, home products, fashion accessories, cosmetics, jewelry, home entertainment and other luxury products.
About Alliance Data
Alliance Data is a leading provider of marketing, loyalty and transaction services, managing over 120 million consumer relationships for some of North America's most recognizable companies. Using transaction-rich data, Alliance Data creates and manages customized solutions that change consumer behavior and that enable its clients to create and enhance customer loyalty to build stronger, mutually beneficial relationships with their customers. Headquartered in Dallas, Alliance Data employs over 9,000 associates at more than 60 locations worldwide. Alliance Data's brands include AIR MILES(R), North America's premier coalition loyalty program, and Epsilon(R), a leading provider of multi-channel, data-driven technologies and marketing services. For more information about the company, visit its website, http://www.alliancedata.com/.
Alliance Data's Safe Harbor Statement/Forward Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may use words such as "anticipate," "believe," "estimate," "expect," "intend," "predict," "project" and similar expressions as they relate to us or our management. When we make forward-looking statements, we are basing them on our management's beliefs and assumptions, using information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, these forward-looking statements are subject to risks, uncertainties and assumptions, including those discussed in our filings with the Securities and Exchange Commission.
If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements contained in this presentation reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. These risks, uncertainties and assumptions include those made with respect to and any developments related to the termination of the proposed merger with an affiliate of The Blackstone Group, including risks and uncertainties arising from actions that the parties to the merger agreement or third parties may take in connection therewith. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this presentation regarding Alliance Data Systems Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year. Risk factors may be updated in Item 1A in each of the Company's Quarterly Reports on Form 10-Q for each quarterly period subsequent to the Company's most recent Form 10-K.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051024/ADSLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Alliance Data Systems Corporation
CONTACT: Alliance Data, Julie Prozeller - Analysts-Investors, Financial Dynamics, +1-212-850-5721, alliancedata@fd.com; or Shelley Whiddon - Media, +1-972-348-4310, Shelley.whiddon@alliancedata.com; or PD Financial Corp., Robert Malina, President, +1-310-478-2177, bmalina@pdfinancialcorp.com
Web site: http://www.alliancedata.com/
Sonic Foundry Unveils Mediasite 5.0, the Next Generation Lecture Capture Platform for Higher EducationFrom Recording to Reporting, 5.0 Provides Superior Lecture Capture and Management Capabilities for the 600 colleges and Universities Using Mediasite
LAS VEGAS, June 19 /PRNewswire-FirstCall/ -- Sonic Foundry, Inc. (EduComm booth #20, InfoComm booth #N5560), the recognized market leader for lecture capture, today introduced Mediasite 5.0, its next-gen rich media communication and knowledge management platform for higher education, from the show floor at EduComm 2008. Complementing this release are the latest models in its family of award-winning Mediasite Recorders.
Mediasite 5.0 enhances student playback of course material and strengthens faculty and administration's management of recorded content. Mediasite 5.0 includes nearly 100 enhancements and new capabilities such as:
-- All new Mediasite Players including an on-slide magnifier to see close-up detail in any portion of a presented graphic
-- An updated Mediasite Catalog with flexible content organization hierarchies and RSS feeds allowing authorized users to subscribe to content of interest
-- Revamped tracking and reporting capabilities with access to more viewing statistics and graphics of key viewing trends
-- vCal support for Mediasite presentation invitations, allowing recipients to add the event to their Outlook calendar with a single click
-- Ability for users to forward clips to other authorized users while watching a presentation
Customers who received a sneak-peek of Mediasite 5.0 at UNLEASH 2008, the annual Mediasite User Conference, are anticipating an even greater user experience coupled with increased content flexibility and control. "We are looking forward to deploying Mediasite 5.0. It is the single-source platform with the proven ability to reliably scale campus-wide, consistently helping us to deliver a quality product to faculty and students," said Bob Hillhouse, director of IT at the University of Tennessee. "Mediasite is an established and vital service for the University of Tennessee system. We're looking forward to what's coming next."
With the 5.0 release, Sonic Foundry also announces the latest Mediasite RL and ML Recorders for automated rich media lecture capture. Features include DVI support for image capture, the ability to pause live or on-demand recordings to accommodate breaks, high motion video support for presentation images, video center-cut editing capabilities, widescreen image capture and a smaller rack-mount requirement for the RL Recorder.
"Student expectations for online course content -- be it distance learning or blended, live or on-demand -- are growing. With Mediasite 5.0, Sonic Foundry has shown that we're not only responding to those expectations, we're anticipating them by setting the standard for the next generation lecture capture platform," said Rimas Buinevicius, chairman and CEO of Sonic Foundry. "We are excited to introduce these enhancements to our customers in higher education and look forward to continuing to grow our position as the innovative leader in this market."
Since its introduction in 2003, Sonic Foundry's Mediasite has set the standard as a transformational communication medium for delivering and sharing knowledge. Mediasite's patented lecture capture technology and content management platform automate the recording, delivery, management, and search of multimedia presentations (combining audio, video and accompanying graphics) for live or on-demand viewing. With upwards of 600 higher education customers, Sonic Foundry is dedicated to advancing the convergence of technology and elearning. For an overview of Mediasite please visit http://www.sonicfoundry.com/mediasite-educomm.
Mediasite 5.0 will be available late summer, with the new Mediasite Recorders available mid-July.
About Sonic Foundry(R), Inc.
Founded in 1991, Sonic Foundry is the recognized market leader for rich media webcasting and knowledge management, providing education and training solutions and services that link an information-driven world. Based in Madison, Wisconsin, the company has received numerous awards including the 2007 Frost & Sullivan Global Market Leadership Award, Ziff Davis Media's Baseline Magazine's sixth fastest-growing software company with sales under $150 million and Deloitte's Technology Fast 500. Named a Bersin & Associates 2007 Learning Leader, Sonic Foundry's webcasting and knowledge management solutions are trusted by education institutions, Fortune 500 companies and government agencies for a variety of critical communication needs. Sonic Foundry is changing the way organizations communicate via the web and how people around the globe receive vital information needed for education, business, professional advancement and safety. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Sonic Foundry's products, its ability to succeed in capturing significant revenues from media services and/or systems, the effect of new competitors in its market, integration of acquired business and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.
Sonic Foundry, Inc.
CONTACT: Tammy Kramer of Sonic Foundry, Inc., +1-608-237-8592, tammyk@sonicfoundry.com
Web site: http://www.sonicfoundry.com/
Sonic Foundry Unveils Mediasite 5.0 and its Next Generation of Mediasite RecordersLatest Enhancements Announced at InfoComm 2008
LAS VEGAS, June 19 /PRNewswire-FirstCall/ -- Sonic Foundry, Inc. (InfoComm booth #N5560, EduComm booth #20), the recognized market leader for rich media webcasting and knowledge management, today introduced the next generation in its family of award-winning webcasting appliances, the Mediasite RL and ML Recorders, from the InfoComm 2008 show floor. Complementing this release is Mediasite EX Server 5.0, the next-gen rich media platform to stream, archive, secure and manage recorded webcasts.
The updated Mediasite Recorders feature a number of enhancements, most notably:
-- Capture any VGA presentation source, such as a laptop, projector, e-board or document camera, via DVI (Digital Video Interface) input
-- Pause live or on-demand recordings to accommodate breaks with no post-production editing
-- High-motion video support allowing an operator to switch video from the image window to the video window without additional external switching equipment
-- VGA pass-through to immediately redirect an incoming image signal to another output like a projector or monitor
-- Video center-cut editing capabilities
-- Smaller 2U rack-mount size (for the RL recorder)
Mediasite EX Server 5.0 delivers greater playback options for students and workers while strengthening administration's management of recorded content. Among Mediasite 5.0's enhancements are revamped Mediasite Players, an updated Mediasite Presentation Catalog with flexible content organization hierarchies and RSS feeds, access to more viewing statistics and reports including graphics of key viewing trends, vCal support to add Mediasite events to Outlook calendars and the ability to forward content clips to authorized users while watching a presentation.
Customers who attended UNLEASH 2008, the annual Mediasite User Conference, received a sneak-peek of the almost 100 new features included in Mediasite 5.0 and are anticipating even greater benefits with the new releases. "With Mediasite, we reach thousands of people around the world with ease. Our faculty capture their presentations and share them immediately without changing the way they present, and without content-authoring and post-production work. The new Recorders and Mediasite 5.0 will only make our job easier, and we look forward to what's coming," said Octavio Heredia, Associate Director-Global Outreach and Extended Education, the Ira A. Fulton School of Engineering at Arizona State University.
"Expectations for communicating online are growing in every sector. With Mediasite 5.0 and the new family of Recorders, Sonic Foundry has shown that we're not only responding to those expectations, we're anticipating them by setting the standard for the next generation rich media platform," said Rimas Buinevicius, chairman and CEO of Sonic Foundry. "We are excited to introduce these enhancements to our customers and look forward to continuing to grow our position as the innovative leader in this market."
Since its introduction in 2003, Sonic Foundry's Mediasite has set the standard as a transformational communication medium to deliver and share critical information live or on-demand for more than 1000 organizations worldwide. The patented Mediasite webcasting and content management system quickly and cost-effectively automates the recording, delivery, management and search of rich media presentations that combine audio, video and accompanying graphics for live or on-demand viewing. The Mediasite Recorders' simple workflow allows presenters to share their knowledge online without changing how they normally present, while organizations eliminate costly, time-consuming content authoring and post-production work. The room-based, rack-mountable Mediasite RL Recorder is designed for presentation facilities like lecture halls, auditoriums, classrooms and conference and training rooms. The mobile Mediasite ML Recorder is designed for portability to off-site events, conferences, trade shows or multiple venues throughout an organization. For more information view http://www.sonicfoundry.com/mediasite-infocomm.
The new Mediasite Recorders will be available mid-July, with Mediasite EX Server 5.0 available late summer.
About Sonic Foundry(R), Inc.
Founded in 1991, Sonic Foundry is the recognized market leader for rich media webcasting and knowledge management, providing education and training solutions and services that link an information-driven world. Based in Madison, Wisconsin, the company has received numerous awards including the 2007 Frost & Sullivan Global Market Leadership Award, Ziff Davis Media's Baseline Magazine's sixth fastest-growing software company with sales under $150 million and Deloitte's Technology Fast 500. Named a Bersin & Associates 2007 Learning Leader, Sonic Foundry's webcasting and knowledge management solutions are trusted by education institutions, Fortune 500 companies and government agencies for a variety of critical communication needs. Sonic Foundry is changing the way organizations communicate via the web and how people around the globe receive vital information needed for education, business, professional advancement and safety. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Sonic Foundry's products, its ability to succeed in capturing significant revenues from media services and/or systems, the effect of new competitors in its market, integration of acquired business and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.
Sonic Foundry, Inc.
CONTACT: Tammy Kramer of Sonic Foundry, Inc., +1-608-237-8592, tammyk@sonicfoundry.com
Web site: http://www.sonicfoundry.com/
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