Companies news of 2008-07-25 (page 2)
ICOP Equips Law Enforcement Agencies in Alabama and Ohio With Digital In-car VideoGSA...
Sirit Inc. Notice of First Quarter Results Conference Call
Verizon Wireless Rolls Out Evolutionary Store Design in West Hartford, ConnecticutNew Blue...
DEI Holdings Announces Date of Second Quarter 2008 Conference Call
CCID Consulting Analyzes Characteristics of 2008 China Flash Disk Market
It Takes Two! Pampers(R) Partners With 'The Twin Set Moms,' Authors of a New Book, to Help...
AT&T Enhances Wireless Network for Hampton Roads CustomersNetwork Upgrade Part of Nearly...
Moog's Third Quarter EPS Increased 22%
BIO-key(R) Announces Second Quarter 2008 Earnings Release and Conference Call Schedule
Webcast Alert: Active Power Announces Second Quarter 2008 Conference Call
Photos: This Summer Stephen King's 'N.' is Coming to a Small Screen Near You- Publisher...
Verizon Wireless to Host PDA and Smartphone Workshops at Staten Island Communications...
[video] Paul Egan, CEO of FreeStar Technology Corp., Discusses New Agreement With Chinese...
[video] Jeff Hoffman, President and CEO of uBid.com Holdings, Inc. Discusses RedTag.com in...
Netflix Announces Q2 2008 Financial ResultsSubscribers - 8.4 millionRevenue - $337.6...
AT&T Announces $400 Million Planned Investment to Bring New Technology to Consumers in...
China VoIP & Digital Telecom Inc. Subsidiary Yinquan Technology will Host CIO Seminar
Oracle Names Bruce R. Chizen To Board Of Directors
Verizon Wireless Activates New Cell Site in Marion County, Ohio
ICOP Equips Law Enforcement Agencies in Alabama and Ohio With Digital In-car VideoGSA Schedule and Independent Dealer Network Driving New Customer Sales
LENEXA, Kan., July 25 /PRNewswire-FirstCall/ -- ICOP Digital, Inc. , an industry-leading company engaged in advancing digital surveillance solutions, today announced that the Company has received purchase orders from two new customers in Alabama and Ohio for ICOP Model 20/20(R)-W digital in-car video systems. ICOP has shipped 35 units to a law enforcement agency in Alabama that operates a 40-car patrol fleet and 15 units to an Ohio-based law enforcement agency operating a fleet of 22 patrol cars. The orders totaled $176,000 and $76,000, respectively.
"Similar to the recently announced $203,000 order received from a federal policing agency supporting a U.S. military base, the units shipped to the agency in Ohio were purchased pursuant to our GSA Schedule contract," stated Laura Owen, President and COO of ICOP. "The effort that went into winning ICOP GSA Schedule status is serving us well, giving many new customers freedom to avoid traditional full and open competitive bidding processes."
Continuing, Owen added, "ICOP is also pleased to see that key initiatives focused on expanding and supporting our global network of independent dealers is resulting in material sales opportunities and new customer growth for our Company. This is evidenced by an increasing number of orders originating from our valued dealer network, including this sale of ICOP Model 20/20-W systems to the Alabama agency."
About ICOP Digital, Inc.
ICOP Digital, Inc. operates on the core principle that 'without local security, there is no national security.' It endeavors to protect people, assets and profits for communities with innovative, mission-critical security, surveillance and communication solutions. The Company engineers, manufactures and markets mobile and stationary surveillance products for use in the public and private sectors, and facilitates the delivery of live video to first responders. (GSA Contractor)
The ICOP Model 20/20(R)-W, ICOP's flagship, award-winning product, is the leading digital in-car video recorder system for law enforcement. ICOP LIVE(TM) delivers live streaming video to and from first responder vehicles and headquarters, empowering first responders with enhanced real-time situational awareness and actionable intelligence, optimizing the outcome of a crisis. ICOP LIVE delivers live video wirelessly to first responders over any wireless network and to multiple internet enabled Windows(R) devices simultaneously. The ICOP Model 4000(TM), ICOP's newest advanced surveillance solution, is the next generation transit/rail DVR system. The ICOP Model 4000 uses less power than traditional DVR's, which means less heat and translates into a more reliable unit with less downtime. In addition, the ICOP Model 4000 boasts many advanced and innovative features and capabilities, such as wireless file uploading and wireless video streaming, among many others.
For more information, please view the following video presentations at http://www.icopdigital.com/why_icop.html and http://www.icop.com/veil.html, or visit http://www.icop.com/.
Safe Harbor Statement
This document contains 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 are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the Company and its operations, are included in certain forms the Company has filed with the Securities and Exchange Commission.
For more information, contact: For Investor/Media Relations:
Laura E. Owen, President and COO Elite Financial Communications Group/
16801 West 116th Street Elite Media Group
Lenexa, KS 66219 USA Dodi Handy, President and CEO
Phone: (913) 338-5550 Phone: (407) 585-1080
Fax: (913) 312-0264 ICOP@efcg.net
Lowen@ICOP.com
http://www.icop.com/
ICOP Digital, Inc.
CONTACT: Laura E. Owen, President and COO of ICOP Digital, Inc., +1-913- 338-5550, Fax: +1-913-312-0264, Lowen@ICOP.com; or Dodi Handy, President and CEO of Elite Financial Communications Group/Elite Media Group, +1-407-585- 1080, ICOP@efcg.net
Web site: http://www.icop.com/ http://www.icopdigital.com/why_icop.html http://www.icop.com/veil.html
Sirit Inc. Notice of First Quarter Results Conference Call
TORONTO, July 25 /PRNewswire-FirstCall/ -- Sirit Inc. ("Sirit") (TSX: SI), a leading provider of radio frequency identification ("RFID") technology, will host a conference call on Tuesday, August 5, 2008 @ 10:00 a.m. (EST) to discuss its fiscal 2008 second quarter financial results. Norbert Dawalibi, President and CEO and Anastasia Chodarcewicz, Vice President Finance and CFO, will review Sirit's financial and operating results.
A question-and-answer session will follow, at which time the operator will direct participants as to the correct procedure for submitting questions. Sirit will report its financial results via news release prior to market opening on Tuesday, August 5, 2008.
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DATE: Tuesday, August 5, 2008
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TIME: 10:00 a.m. (EST)
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WEBCAST: A live audio Webcast of the call will be available at
http://www.sirit.com/. The Webcast will be archived on this
site for 90 days.
Please connect to the Web site at least 15 minutes
prior to the conference call to ensure adequate time
for any software download that may be needed to hear
the Webcast.
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TAPED REPLAY: 1-877-289-8525 or 416-640-1917 - Available
approximately 1 hour after the call and then until
Tuesday, August 12, 2008 at midnight.
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REFERENCE NUMBER: 21279165 followed by the number sign
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About Sirit
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 14 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities can be customized to address new and traditional RFID market applications including Supply Chain & Logistics, Cashless Payment (including Electronic Tolling), Access Control, Automatic Vehicle Identification, Near Field Communications, Inventory Control & Management, Asset Tracking and Product Authentication. For more information, visit http://www.sirit.com/.
Sirit Inc.
CONTACT: Anastasia Chodarcewicz, Vice President Finance and CFO, Sirit Inc., (416) 367-1897 x227, achodarcewicz@sirit.com
Verizon Wireless Rolls Out Evolutionary Store Design in West Hartford, ConnecticutNew Blue Back Square Location Provides Enhanced Hands-On Experience for Customers
WEST HARTFORD, Conn., July 25 /PRNewswire/ -- Verizon Wireless is breaking new ground in the U.S. wireless retail experience today with the introduction of its evolutionary store design in West Hartford, Connecticut. The 3,100 square foot store, located at 61 Raymond Road in Blue Back Square, offers consumers a high-tech and hands-on experience with wireless voice, data, music and video services.
The store design -- incorporated in new Verizon Wireless stores around the country in 2008 -- features a bright new design and integrates a number of innovative systems and operational enhancements designed to streamline the sales process and enhance the customer experience, including:
-- Notebook computers demonstrating BroadbandAccess, the company's high-speed wireless Internet service geared toward mobile professionals, business customers, and on-the-go college students. Verizon Wireless cell sites in Connecticut and across New England offer wireless broadband connectivity.
-- More than 55 working models of handsets, PC cards and other devices for customers to try.
-- A greeter kiosk that allows customers to check in once they enter the store and list their wireless needs, so representatives can quickly assist them.
-- A Bill Payment Kiosk that allows customers to make account payments quickly and easily using checks, cash or credit/debit cards.
-- Customer Service and Technical Support departments, making it easy for customers to get account information, customer service and address technical issues from trained in-store staff.
"The new Blue Back Square location provides increased customer service and shopping convenience to our Hartford customers," said Verizon Wireless District Manager Romano Imerini. "Increasing demand for Verizon Wireless products such as wireless broadband Internet, is driving our network and store expansions across New England."
Verizon Wireless has invested more than $45 billion since it was formed to increase the coverage and capacity of its national network. Regionally the company has invested nearly $2.2 billion into its New England network, including over $292 million in 2007 alone.
The new Verizon Wireless Communications Store is open Monday through Saturday 9:00 a.m. to 9:00 p.m. and Sunday from 10:00 a.m. to 6:00 p.m., and can be reached at (860) 231-7035.
The new design has been introduced in more than 100 new locations around the country, including Boston, Massachusetts and North Kingstown, Rhode Island. The new design will be introduced in additional locations -- either new or existing -- throughout the rest of 2008.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 68.7 million customers. Headquartered in Basking Ridge, N.J., with 70,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: Michael Murphy of Verizon Wireless, +1-781-932-1213, Michael.murphy@verizonwireless.com; or David Thomson of Thomson Communications for Verizon Wireless, +1-978-808-7700, David@thomsoncommunications.com
Web site: http://www.verizonwireless.com/
DEI Holdings Announces Date of Second Quarter 2008 Conference Call
VISTA, Calif., July 25 /PRNewswire-FirstCall/ -- DEI Holdings, Inc. announced today that it will report financial results for the second quarter ended June 30, 2008 after the market close on Tuesday, August 5, 2008. The Company also announced that it will host a conference call on the same day at 5:00 p.m. Eastern Time. The Company will discuss its results for the second quarter of 2008. The conference call may include forward-looking statements.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020424/DIRECTLOGO)
To participate in the conference call, investors should dial 800-762-9439 ten minutes prior to the call. International callers should dial 480-629-9572. A telephone replay of the call will be available through 11:59 p.m. Eastern Time on August 19, 2008 by calling 800-406-7325 (passcode: 3904436). International callers should dial 303-590-3030 and use the same passcode.
The call will be open to all interested investors through a live audio Web broadcast via the Internet at http://www.deiholdings.com/. For those who are not available to listen to the live broadcast, the webcast will be archived for a period of 90 days.
About DEI Holdings
Headquartered in Southern California, DEI Holdings, Inc. is the parent company of some of the most respected brands in the consumer electronics industry. DEI Holdings is the largest designer and marketer in North America of premium home theater loudspeakers (sold under the Polk Audio(R) and Definitive Technology(R) brand names), and consumer-branded vehicle security and remote start systems (sold under the Viper(R), Clifford(R), Python(R), Autostart(R) and other brand names). DEI Holdings is also the largest aftermarket supplier of SIRIUS satellite radios and accessories, and a supplier of mobile audio sold principally under both the Polk Audio and Orion brand names. DEI Holdings markets its broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world. Founded in 1982, the company has approximately 500 employees and operations in California, Maryland, Canada, Europe and Asia. For more information, please visit http://www.deiholdings.com/.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020424/DIRECTLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
DEI Holdings, Inc.
CONTACT: Kevin Duffy, Chief Financial Officer of DEI Holdings, Inc., +1-760-598-6200; or John Mills of Integrated Corporate Relations, +1-310-954-1100, for DEI Holdings, Inc.
Web site: http://www.deiholdings.com/
CCID Consulting Analyzes Characteristics of 2008 China Flash Disk Market
BEIJING, July 25 /Xinhua-PRNewswire/ -- CCID Consulting, China's leading research, consulting and IT outsourcing service provider, and the first Chinese consulting firm listed in Hong Kong (Hong Kong Stock Exchange: HK08235), recently analyzed China's flash disk market in 2008.
CCID Consulting's data shows the sales volume of China's flash disk market in 2008Q1 reaches 3.9028 million sets, up 43.5% year-on-year. The good opening in 2008 lead to optimistic forecasts to the market outlook.
In 2008, China's flash disk market reviews three characteristics:
Upgrade of Large Capacity Flash Disks with 2G Now Most Popular
Flash memory capacity upgrading is the most significant change in the market. In 2008, 2G flash memories have been the mainstream products. 4G and 8G flash memories, unattainable products in 2007, are acceptable to most consumers in 2008.
Figure 1: Capability Structure of Flash Disk Market, 2007Q1-2008Q1
(Unit: 10,000 Sets)
http://www.ccidconsulting.com/upload/13375.jpg
Source: CCID Consulting, April, 2008
Aigo Enters Vogue Market with Image Breakthrough
As a leading flash memory producer, Aigo usually focuses on high-end market and industry customers, and has maintained a traditional commercial image. Recently, Aigo's lover vision USB disks obtained good market reaction. About 20% sales volume growth comes from women consumers in 2007.
After the success in personal user market, Aigo pays more attention to this segment market, emphasizing segment product design. For example, Aigo releases a series of products for women users, such as butterfly like USB disk. On the other hand, Aigo adjusts its price strategy. In 2008 Q1, Aigo achieves a satisfactory performance in personal user market.
Kingston Enjoys Most Rapid Growth
In 2008Q1, the sales volume of Kingston is up 360% year-on-year, and Kingston becomes a dark horse in the flash disk market, which impacts on leading brands. Because of the advantages in channel, upstream chip resource and products' performance price ratio, Kingston acquires its great growth in one year.
Similarly, Lenovo's flash disk market is up 270% year-on-year, with sales volume similar to with Aigo, which has the largest sales volume. Lenovo's major advantages are big brand, independent channel, Olympic propaganda and IT industrial sources.
Figure 2: Brand Pattern of Flash Disk Market, 2007Q1-2008Q1
(Unit: 10,000 Sets)
http://www.ccidconsulting.com/upload/13376.jpg
Source: CCID Consulting, April, 2008
About CCID Consulting
CCID Consulting Co., Ltd. (hereinafter known as CCID Consulting), the first Chinese consulting firm listed in the Growth Enterprise Market of the Stock Exchange (GEM) of Hong Kong (stock code: 8235.HK), is directly affiliated with China Center for Information Industry Development (hereinafter known as CCID Group). Headquartered in Beijing, CCID Consulting has so far set up branch offices in Shanghai, Guangzhou, Shenzhen, Wuhan and Chengdu, with over 300 professional consultants after many years of development. The company's business scope has covered over 200 large and medium-sized cities in China.
Based on major areas of competitiveness: industrial resources, information technology and data channels, CCID Consulting provides customers with public policy establishment, industry competitiveness upgrading, development strategy and planning, marketing strategy and research, HR management, IT programming and management. CCID Consulting's customers range from industrial users in electronics, telecommunications, energy, finance, automobile, to government departments at all levels and diversified industrial parks. CCID Consulting commits itself to becoming the No. 1 advisor for enterprise management, the No. 1 consultancy for government decisions and the No. 1 brand for informatization consulting.
For more information, please contact:
Cynthia Liu
Coordinating Manager
CCID Consulting Co., Ltd.
Tel: +86-10-8855-9080
Email: liuyan@ccidconsulting.com
CCID Consulting Co., Ltd.
CONTACT: Cynthia Liu, Coordinating Manager of CCID Consulting Co., Ltd., +86-10-8855-9080, or liuyan@ccidconsulting.com
Web Site: http://www.ccidconsulting.com/upload/13375.jpg http://www.ccidconsulting.com/upload/13376.jpg
It Takes Two! Pampers(R) Partners With 'The Twin Set Moms,' Authors of a New Book, to Help Moms of Multiples Share, Survive and ThrivePampers Will Provide Special Offers and Unique Online Content Aimed at Moms of Twins
CINCINNATI, July 25, 2008 /PRNewswire/ -- There are many resources for new parents who have questions about their babies or want advice and tips from other moms, but few are aimed specifically at parents of twins or multiples. Pampers, a leader in baby care for more than 40 years, is helping to fill this void by partnering with authors Christina Boyle Cush and Cathleen Stahl, known as the "Twin Set Moms," for the launch of their new book "Twin Set," available nationwide starting July 22. Pampers will feature exclusive content from the book on its Web site as well as offer a free copy of Twin Set, along with valuable coupons redeemable for more than $20 worth of Pampers products especially for moms of twins for a limited time only at http://www.pampers.com/twins
(Photo: http://www.newscom.com/cgi-bin/prnh/20080725/CLF018 )
The twin birth rate has increased 74 percent since 1980 and an estimated 1.3 million sets of young twins are expected in the U.S. by 2010*. The twin trend is evident with recent multiple births from celebrities including Angelina Jolie, Julia Roberts, Patrick Dempsey, Sean "Diddy" Combs, Dennis Quaid, Marcia Cross and Jennifer Lopez.
Understanding that parenting is an uplifting and rewarding experience in itself, Pampers also recognizes that parents of multiples face unique joys and challenges -- and that many tried-and-true parenting strategies might not translate to twins. The authors of the new "Twin Set" book are both moms of twins themselves and the book serves as an essential guide to savoring, not just surviving, life as time-crunched moms of multiples. Filled with "real world" advice, tips and a few laughs compiled from national surveys of hundreds of moms of multiples, as well as insight from doctors and specialists, the book provides a parent-to-parent support network in addition to solution-oriented advice in a fun and relatable approach.
"Parents of twins go through twice as many diapers and wipes than parents of single babies, so the products they use really have to stand up to the task," said Kirk Perry, North American vice president and general manager for Pampers. "Pampers is excited to work with the Twin Set Moms and to continue to provide valuable resources for parents and babies -- including parents of twins and multiples -- via Pampers products and Pampers.com ."
According to the Twin Set Moms, many tried-and-true parenting strategies don't translate to twins and even basic tasks like diaper changes can be more challenging with two. However, with the right tools and products, it's one less thing for moms to worry about. New Pampers Swaddlers Sensitive diapers feature a wetness indicator on the outside of the diaper that changes from yellow to blue when the baby has wet the diaper so that mom knows exactly when her child has wet. They are hypoallergenic with a touch of aloe and feature Air Dry for ultra breathability so air gets to baby's skin.
"No one understands what a mom of multiples goes through better than other moms of twins, but even with the twin birth rate soaring, it can be hard to find experts who 'get it,'" said Christina Boyle Cush, co-author of "Twin Set." "Pampers cares about addressing this often overlooked community of moms and we couldn't be more thrilled to partner with them."
The Pampers Web site ( http://www.pampers.com/twins ) will feature tips, more information on the "Twin Set" book and special offers especially for moms of twins, who can request $20 in valuable coupons including one free jumbo pack of Pampers diapers. As a special limited-time offer, Pampers will provide a free copy of Twin Set with every coupon pack.
About Pampers(R)
Pampers is a trademark of Procter & Gamble and the company's largest global brand and is the world's top-selling diaper brand. Our business is inspired by babies and toddlers, created by Pampers. For more information on Pampers and the Pampers Parenting Institute, visit http://www.pampers.com/
About Procter & Gamble
Three billion times a day, P&G brands touch the lives of people around the world. The company has one of the strongest portfolios of trusted, quality, leadership brands, including Pampers(R), Tide(R), Ariel(R), Always(R), Whisper(R), Pantene(R), Mach3(R), Bounty(R), Dawn(R), Pringles(R), Folgers(R), Charmin(R), Downy(R), Lenor(R), Iams(R), Crest(R), Oral-B(R), Actonel(R), Duracell(R), Olay(R), Head & Shoulders(R), Wella, Gillette(R), and Braun. The P&G community consists of over 135,000 employees working in over 80 countries worldwide. Please visit www.pg.com for the latest news and in-depth information about P&G and its brands.
* According to the Centers For Disease Control and the National Center for Health Statistics
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080725/CLF018 AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Procter & Gamble
CONTACT: Lauren Yacker, lyacker@painepr.com, or Cherie Whyte, cwhyte@painepr.com, both of PainePR, +1-949-809-6774, for Pampers
Web site: http://www.pampers.com/twins http://www.pampers.com/ http://www.pg.com/
AT&T Enhances Wireless Network for Hampton Roads CustomersNetwork Upgrade Part of Nearly $100 Million Planned Virginia Investment
RICHMOND, Va., July 25 /PRNewswire-FirstCall/ -- AT&T Inc. is supporting its continued commitment to Hampton Roads with the largest wireless network investment in the region since 2005. With nearly $100 million investment planned for the state this year, the company's four-year territory planned investment total is expected to be more than $350 million.
AT&T has delivered dramatic change in Hampton Roads -- a direct result of the company's ongoing efforts to expand and enhance its network operations and the synergies that come from being part of the world's largest communications company.
"AT&T's network in Hampton Roads is better than ever. This year's planned network investment underscores our dedication to provide high quality wireless service wherever our customers live, work and play," said J. Michael Schweder, President, AT&T Mid-Atlantic Region. "It's all about our customers. Every AT&T wireless call is important to us, whether it's checking in with folks at home, chatting with friends, or making that important business call. These network upgrades bring us closer to our goal of ensuring that customers can call whoever they want, whenever they want in more places."
Part of the 2008 investment plan calls for 76 new cell sites in the state, including 26 planned sites in the Hampton Roads area. Four sites are already beefing up coverage -- one along South Henry Street in Williamsburg, another in Chesapeake City, one west of Elizabeth City, North Carolina and a fourth off US60 between Williamsburg and Yorktown.
The remaining 22 sites will enhance and expand coverage to the following areas later this year:
-- Oak Grove
-- Birdneck Point
-- City of Chesapeake by Johnstown Road
-- Near Douglas Road
-- Between Bell Mills Rd and Rt. 104
-- Area surrounding Honey Bee Golf Club
-- Ferrell Parkway by Virginia Beach
-- North of Western Highway, I-64
-- South Hill Community
-- Aragona Boulevard and North Witchduck Road.
-- West of Old Dominion University community
-- Along Portsmouth (SR-337) and Victory Boulevards (SR-239)
-- Cavalier Boulevard
-- US-13 South
-- Beach Road in Hampton
-- Magruder Blvd
-- Christopher Newport University
-- Crawford Rd in Yorktown
-- US-60
-- Williamsburg
-- Ford's Colony in Williamsburg
-- Severn and Maryus
Planned 2008 investment in the state also calls for enhanced coverage in Richmond with 17 sites, Roanoke with 15 sites, Charlottesville with six sites, Harrisonburg with five sites, Danville with four sites and Lynchburg with three sites. These sites will complement the high speed third generation (3G) wireless network that the company launched in 2007 to boost coverage and capacity in Hampton Roads and Richmond. In addition, the company also completed 61 new cell sites in 2007, including bringing coverage to Norfolk Airport.
"With more smartphones than any other carrier, the largest music library and more than 90,000 choices available on Media Mall, our e-commerce platform, we offer maximum choice for customers to select the wireless experience that best fits their lifestyle," said Erika Thompson, vice president and general manager for AT&T's wireless operations in Virginia and West Virginia. "Our mobile broadband network not only provides a faster more robust wireless experience for local customers, but lets them take advantage of cutting edge applications like Video Share, our one-of-a-kind service that allows users to share live streaming video."
The AT&T 3G network -- the nation's fastest 3G network -- is now available to residents and visitors of the Outer Banks, North Carolina. Extending from Corolla through Kitty Hawk and down through Rodanthe and Avon to Hatteras, AT&T's 3G network is now in 300 U.S. major metropolitan markets with phone mobile download speeds of up to 1.4 Mbps.
The company will deliver 3G service to nearly 350 leading U.S. markets by the end of 2008, including all of the top 100 U.S. cities. AT&T products and services are available in 30 company-owned stores and 198 authorized agent and national retail locations, such as Wal-Mart, Costco and RadioShack in the state.
For the complete array of AT&T offerings, visit http://www.att.com/
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
Cautionary Language Concerning Forward-Looking Statements Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T Inc.
CONTACT: Beth Gautier of AT&T Inc., +1-202-659-5888, wireless, +1-202-270-5724
Web site: http://www.att.com/
Moog's Third Quarter EPS Increased 22%
EAST AURORA, N.Y., July 25 /PRNewswire-FirstCall/ -- Moog Inc. announced today third quarter earnings of $31.1 million, or $.72 per share, an increase of 22% over $.59 per share a year ago. On a year-to-date basis, Moog's earnings per share were $2.02, up 17% from $1.72 in the year previous.
Sales for the quarter of $497 million were up 23% from $404 million last year. Sales year-to-date of $1.412 billion were also up 23%.
Aircraft sales in the quarter of $175 million were up 17%. The increase was all in military aircraft. Sales were up on the F-35 Joint Strike Fighter and the V-22 Tilt Rotor. Military aftermarket sales at $33 million were up 32% from a year ago.
Commercial aircraft sales in the quarter were almost the same as a year ago. Increased sales on business jets offset reduced sales on the Boeing 7-series including the 787 and a 6% reduction in aftermarket revenue.
Space and Defense sales of $63 million were up 33%. Growth in the core business came in the Constellation program. Constellation will develop the systems to replace the Space Shuttle. The recent QuickSet acquisition provided strong sales in Homeland Security and in Driver Vision Enhancer systems for MRAP vehicles. The acquisition of CSA Engineering added $2.4 million in sales in the quarter.
Industrial Segment sales were very strong at $143 million, an increase of 28% from a year ago. Sales were up in almost every major product line with the biggest increase in the motion simulator business. Sales of electric motion bases to CAE and Flight Safety generated a 92% increase to a total of $21 million. Sales were also up in power generation, metal-forming equipment, gauge controls for steel mills, and plastic-making machinery.
Sales in the Components Segment of $87 million were up 20% from a year ago. A major part of the increase was equipment supplied to Northrop Grumman for the Guardian system, a system designed to protect military and commercial aircraft from shoulder-fired missiles. The biggest percentage increase in this segment was in the marine market. Sales of $12 million were up 28%. The Company's products are used by a broad range of customers involved in offshore oil exploration and production.
The Company's Medical Devices segment had sales of $28 million, up 27% from a year ago. Most of the increase was in sales of administration sets that are used in conjunction with the installed base of intravenous and enteral pumps.
The current backlog of $898 million was up 23% from the same quarter a year ago.
The Company revised its guidance for the year ending September '08. Sales are now forecast at $1.887 billion with net earnings of $119 million and earnings per share of $2.75.
The Company also provided its initial projection for fiscal '09. Sales are forecasted in the range of $2.095 billion to $2.125 billion, net earnings in the range of $134 million to $140 million and earnings per share between $3.08 and $3.20. Growth in EPS would, therefore, range between 12% and 16%.
"Our Company is experiencing remarkable sales growth in every segment", said R. T. Brady, Chairman and CEO. "A very strong earnings performance in our Industrial Systems and Components Segments are providing continued earnings growth while our Aircraft Group is investing heavily in the development of new airplane programs. Once again, the diversity and balance in our product portfolio is the key to consistent growth in earnings per share."
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog's high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at http://www.moog.com/.
Cautionary Statement
Information included herein or incorporated by reference that does not consist of historical facts, including statements accompanied by or containing words such as "may," "will," "should," "believes," "expects," "expected," "intends," "plans," "projects," "estimates," "predicts," "potential," "outlook," "forecast," "anticipates," "presume" and "assume," are forward- looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and are subject to several factors, risks and uncertainties, the impact or occurrence of which could cause actual results to differ materially from the expected results described in the forward-looking statements. These important factors, risks and uncertainties include (i) fluctuations in general business cycles for commercial aircraft, military aircraft, space and defense products, industrial capital goods and medical devices, (ii) our dependence on government contracts that may not be fully funded or may be terminated, (iii) our dependence on certain major customers, such as The Boeing Company and Lockheed Martin, for a significant percentage of our sales, (iv) the possibility that the demand for our products may be reduced if we are unable to adapt to technological change, (v) intense competition which may require us to lower prices or offer more favorable terms of sale, (vi) our significant indebtedness which could limit our operational and financial flexibility, (vii) the possibility that new product and research and development efforts may not be successful which could reduce our sales and profits, (viii) increased cash funding requirements for pension plans, which could occur in future years based on assumptions used for our defined benefit pension plans, including returns on plan assets and discount rates, (ix) a write-off of all or part of our goodwill, which could adversely affect our operating results and net worth and cause us to violate covenants in our bank agreements, (x) the potential for substantial fines and penalties or suspension or debarment from future contracts in the event we do not comply with regulations relating to defense industry contracting, (xi) the potential for cost overruns on development jobs and fixed price contracts and the risk that actual results may differ from estimates used in contract accounting, (xii) the possibility that our subcontractors may fail to perform their contractual obligations, which may adversely affect our contract performance and our ability to obtain future business, (xiii) our ability to successfully identify and consummate acquisitions, and integrate the acquired businesses and the risks associated with acquisitions, including that the acquired businesses do not perform in accordance with our expectations, and that we assume unknown liabilities in connection with the acquired businesses for which we are not indemnified, (xiv) our dependence on our management team and key personnel, (xv) the possibility of a catastrophic loss of one or more of our manufacturing facilities, (xvi) the possibility that future terror attacks, war or other civil disturbances could negatively impact our business, (xvii) that our operations in foreign countries could expose us to political risks and adverse changes in local, legal, tax and regulatory schemes, (xviii) the possibility that government regulation could limit our ability to sell our products outside the United States, (xix) product quality or patient safety issues with respect to our medical devices business that could lead to product recalls, withdrawal from certain markets, delays in the introduction of new products, sanctions, litigation, declining sales or actions of regulatory bodies and government authorities, (xx) the impact of product liability claims related to our products used in applications where failure can result in significant property damage, injury or death and in damage to our reputation, (xxi) the possibility that litigation may result unfavorably to us, (xxii) our ability to adequately enforce our intellectual property rights and the possibility that third parties will assert intellectual property rights that prevent or restrict our ability to manufacture, sell, distribute or use our products or technology, (xxiii) foreign currency fluctuations in those countries in which we do business and other risks associated with international operations and (xxiv) the cost of compliance with environmental laws. The factors identified above are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. We disclaim any obligation to update the forward-looking statements made in this report.
MOOG INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(dollars in thousands, except per share data)
Three Months Ended Nine Months Ended
June 28, June 30, June 28, June 30,
2008 2007 2008 2007
Net sales $496,575 $403,789 $1,411,820 $1,144,684
Cost of sales 338,084 261,922 956,064 753,646
Gross profit 158,491 141,867 455,756 391,038
Research and
development 30,518 28,299 80,686 76,192
Selling, general
and administrative 75,413 68,566 219,634 186,061
Interest 9,121 8,348 28,056 20,415
Other (729) 909 (1,746) 985
114,323 106,122 326,630 283,653
Earnings before
income taxes 44,168 35,745 129,126 107,385
Income taxes 13,057 10,169 41,712 33,258
Net earnings $31,111 $ 25,576 $87,414 $74,127
Net earnings per share
Basic $ .73 $.60 $2.05 $1.75
Diluted $ .72 $.59 $2.02 $1.72
Average common shares
outstanding
Basic 42,646,335 42,476,094 42,577,639 42,405,088
Diluted 43,248,903 43,225,110 43,249,953 43,114,907
MOOG INC.
CONSOLIDATED SALES AND OPERATING PROFIT
(dollars in thousands)
Three Months Ended Nine Months Ended
June 28, June 30, June 28, June 30,
2008 2007 2008 2007
Net Sales
Aircraft Controls $175,384 $149,801 $496,581 $426,294
Space and Defense
Controls 63,456 47,835 190,889 138,700
Industrial Systems 142,854 111,694 395,763 324,757
Components 87,276 72,764 251,104 210,514
Medical Devices 27,605 21,695 77,483 44,419
Net sales $496,575 $403,789 $1,411,820 $1,144,684
Operating Profit
and Margins
Aircraft Controls $12,187 $15,825 $41,530 $43,705
6.9% 10.6% 8.4% 10.3%
Space and Defense
Controls 7,455 6,163 23,298 18,663
11.7% 12.9% 12.2% 13.5%
Industrial Systems 20,582 15,395 56,759 43,673
14.4% 13.8% 14.3% 13.4%
Components 15,151 10,877 44,571 33,831
17.4% 14.9% 17.8% 16.1%
Medical Devices 2,978 829 6,914 4,112
10.8% 3.8% 8.9% 9.3%
Total operating profit 58,353 49,089 173,072 143,984
11.8% 12.2% 12.3% 12.6%
Deductions from
Operating Profit
Interest expense 9,121 8,348 28,056 20,415
Equity-based
compensation expense 1,384 530 3,694 2,730
Corporate expenses
and other 3,680 4,466 12,196 13,454
Earnings before
Income Taxes $44,168 $35,745 $129,126 $107,385
MOOG INC.
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
June 28, September 29,
2008 2007
Cash $ 85,092 $83,856
Receivables 523,767 431,978
Inventories 415,963 359,250
Other current assets 72,733 61,767
Total current assets 1,097,555 936,851
Property, plant and equipment 426,014 386,813
Goodwill and intangible assets 645,633 620,349
Other non-current assets 69,584 62,166
Total assets $2,238,786 $2,006,179
Notes payable $4,683 $3,354
Current installments of long-term debt 1,967 2,537
Contract loss reserves 16,844 12,362
Other current liabilities 357,926 301,975
Total current liabilities 381,420 320,228
Long-term debt 682,348 611,633
Other long-term liabilities 212,205 197,106
Total liabilities 1,275,973 1,128,967
Shareholders' equity 962,813 877,212
Total liabilities and
shareholders' equity $2,238,786 $2,006,179
Moog Inc.
CONTACT: Ann Marie Luhr, +1-716-687-4225
Web site: http://www.moog.com/
BIO-key(R) Announces Second Quarter 2008 Earnings Release and Conference Call Schedule
WALL, N.J., July 15 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (BULLETIN BOARD: BKYI) today announced plans to release second quarter 2008 financial results on Monday, July 28, 2008 before the market opens. In conjunction with the release, BIO-key has scheduled a conference call, which will be broadcast live over the Internet on Monday, July 28, 2008 at 10:00 a.m. Eastern Time.
What: BIO-key International, Inc. Second Quarter 2008 Earnings
Conference Call
When: Monday, July 28, 2008 - 10:00 a.m. Eastern Time
Where: Live via phone by dialing 303-205-0033 and asking for the BIO-key
call at least 10 minutes prior to the start time. Or live over
the Internet by logging on to the web address below.
Where: http://www.bio-key.com/
A telephonic replay of the conference call will be available through 11:59 p.m. Eastern Time on August 4, 2008 and may be accessed by calling 303-590-3000 and using the passcode 11117487#. Also, an archive of the webcast will be available shortly after the call on http://www.bio-key.com/ for a period of three months.
About BIO-key
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, and government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 750 police departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for law enforcement. (http://www.bio-key.com/)
Contacts: BIO-key International, Inc.
Mike DePasquale, CEO
732-359-1111
DRG&E
Gus Okwu, Managing Director
404-532-0086
BIO-key International, Inc.
CONTACT: Mike DePasquale, CEO of BIO-key International, Inc., +1-732-359-1111; or Gus Okwu, Managing Director of DRG&E, +1-404-532-0086, for BIO-key International, Inc.
Web site: http://www.bio-key.com/
Webcast Alert: Active Power Announces Second Quarter 2008 Conference Call
AUSTIN, Texas, July 18 /PRNewswire-FirstCall/ -- Active Power, Inc. announces the following Webcast:
What: Active Power, Inc. Webcast
When: July 25, 2008, at 11:00 a.m. (ET)
Where: http://www.videonewswire.com/event.asp?id=49404
How: Live over the Internet. Simply log on to the Web at the address
above.
Contact: John Penver, Active Power, 512-744-9234
If you are unable to listen in on the live Webcast, the call will be archived on the Web site http://www.videonewswire.com/event.asp?id=49404.
About Active Power
Active Power provides efficient, reliable and green critical power solutions and uninterruptible power supply (UPS) systems to enable business continuity in the event of power disturbances. Founded in 1992, Active Power's flywheel-based UPS systems protect critical operations in data centers, healthcare facilities, manufacturing plants, broadcast stations and governmental agencies in more than 40 countries. Active Power also offers CoolAir, the only solution that provides both backup power and backup cooling. With expert power system engineers and worldwide services and support, Active Power ensures organizations have the power to perform. For more information, please visit http://www.activepower.com/.
Audio: http://www.videonewswire.com/event.asp?id=49404
Active Power, Inc.
CONTACT: John Penver of Active Power, +1-512-744-9234
Web site: http://www.activepower.com/
Photos: This Summer Stephen King's 'N.' is Coming to a Small Screen Near You- Publisher Scribner and Simon & Schuster Digital Team Up with Marvel Entertainment and CBS Mobile to Deliver A Previously Unpublished Stephen King Short Story In Unprecedented Graphic, Digital Entertainment Format- Series May Also Be Purchased at Major Online Digital Content Retailers
NEW YORK, July 25 /PRNewswire/ -- Beginning Monday, July 28, mobile phone users and web surfers can enjoy Stephen King's latest work in a groundbreaking series of 25 original video episodes. The series of video episodes was created through a unique partnership between Scribner and Simon & Schuster Digital, Marvel Entertainment, and CBS Mobile and is believed to be the first comic- style book adaptation specifically developed and produced for viewing on today's most popular small screen platforms. Starting today, viewers can go to http://www.nishere.com/ or http://www.simonsays.com/ to see a preview of the episodes, which will also be unveiled at Comic-Con International in San Diego today at a panel event featuring the creators of this pioneering venture.
To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/simonandschuster/34149/
The series will also be available for purchase at major online digital content retailers.
The episodes are based on King's original and previously unpublished story "N.," the tale of a psychiatrist who becomes the victim of the same mysterious and deadly obsession as his patient, and which will be included in his forthcoming collection of short stories Just After Sunset (Scribner, November 11, 2008) and published as a comic book miniseries by Marvel, launching in 2009. Featuring sophisticated production values, the episodes were drawn by award-winning comic-book artist Alex Maleev, whose work has appeared on NBC's "Heroes," and colored by famed comic-book colorist José Villarrubia, best known for his collaborations with Alan Moore. They were adapted by Marc Guggenheim, co-creator of the ABC-TV series "Eli Stone" with creative oversight from Stephen King. The episodes are presented in a highly designed "pan and scan" format, complete with comic book-style graphics, an original score, sound effects, and a full cast of voiceovers that includes Emmy and Golden Globe award nominee actor Ben Shenkman.
Stephen King commented: "I'm always interested in new delivery systems for stories and always curious about how those systems work with the old storytelling verities. This one, it seems to me, works extraordinarily well."
"'N.' combines-cutting edge graphic content with the hot new digital medium for entertainment to showcase Stephen King's unique talent, and we think consumers will be excited to try this never before attempted way of previewing his upcoming story collection," said Carolyn Reidy, President and CEO of Simon & Schuster, Inc. "We are grateful to CBS Mobile and Marvel Entertainment for partnering with us to bring this wonderful Stephen King story to mobile customers and online consumers."
"Stephen King has always been ahead of the curve," said Susan Moldow, Executive Vice President and Publisher of Scribner. "With 'N.' he has once again proven himself to be an innovator of the first order, offering up a classic, chilling, and compelling King story in an entirely new format that can reach on-the-go consumers, and keep them coming back to find out how things unfold. 'N.' re-imagines the notion of the first serial, delivering prepublication content to where the new readers are."
Beginning Monday, July 28, and running through Friday, August 29, the video episodes (each running approximately two minutes), will be released in serial fashion on consecutive weekdays for five weeks, at no additional charge to mobile users, through the largest mobile carriers. As an added bonus for consumers, the episodes will also be available on the web through the CBS Audience Network, capable of reaching 92% of the U.S.-based online audience and consisting of online partners such as TV.com, AOL, Microsoft, Yahoo, Fancast, Joost, Bebo, Netvibes, Sling Media, and Veoh as well as Web sites from CBS's owned television, radio, and affiliated stations, and at http://www.nishere.com/. Visitors to http://www.nishere.com/ will also be able to embed the player and episodes on blogs and social networking sites, and to preorder the book.
At the same time, paid download customers will be able to purchase blocks of 5 episodes for $0.99 or buy a Season Pass for the entire series for $3.99.
A limited-printing collector's edition, featuring the book and a DVD of all the video episodes, will be made available when Just After Sunset goes on sale in November.
"The series of 'N.' mobile episodes is a groundbreaking moment in visual storytelling, multimedia entertainment, and content development," said Ruwan Jayatilleke, Senior Vice President of Strategic Development-Acquisitions, Marvel Entertainment, Inc. "The synergy between Marvel, Scribner, Simon & Schuster Digital and CBS in bringing this venture in entertainment to fruition has been phenomenal. It is only fitting that such collaboration occurs under the auspices and creative inspiration of Stephen King and his infectious storytelling."
"We are excited to be collaborating with partners who share our belief that the mobile device is worthy of content made specifically for it," said Jeff Sellinger, Executive Vice President, CBS Mobile. "A project of this scope and scale speaks to the strength and value of mobile as an entertainment distribution platform. We look forward to bringing these 25 unique episodes to our video partners and users, and applaud our partners for creating quality made-for-mobile content. We hope that many will follow their lead."
Editors/Webmasters: Downloadable video and still images are available upon request.
About Scribner/Simon & Schuster
Scribner is a division of Simon & Schuster, Inc., a part of CBS Corporation. Simon & Schuster, Inc. is a global leader in the field of general interest publishing, dedicated to providing the best in fiction and nonfiction for consumers of all ages, across all printed, electronic and multi-media formats. Its divisions include the Simon & Schuster Adult Publishing Group, Simon & Schuster Children's Publishing, Simon & Schuster Audio, Simon & Schuster Digital, and international companies in Australia, Canada, and the United Kingdom.
About Marvel Entertainment, Inc.
With a library of over 5,000 characters built over more than sixty years of comic book publishing, Marvel Entertainment, Inc. is one of the world's most prominent character-based entertainment companies. Marvel utilizes its character franchises in licensing, entertainment (via Marvel Studios) and publishing (via Marvel Comics), with emphasis on feature films, television, DVD, consumer products, video games, action figures, role-playing toys and promotions. Marvel's strategy is to leverage its franchises in a growing array of opportunities around the world.
About CBS Mobile
CBS Mobile, a division of CBS Interactive Inc., is charged with building CBS Corporation's wireless business across entertainment, sports and news for CBS, The CW, and CBS Paramount Television. As part of this mission, CBS Mobile offers consumers some of the most innovative and best-of wireless content available today, ranging from the nation's first mobile video alerts for CBS Mobile News, CBS Sports Mobile and entertainment properties, to some of the nation's largest mobile Web sites, made-for-mobile video on all major carriers, a 24/7 mobile television network, and partnerships with the world's more leading edge mobile technology and ad targeting companies. CBS Corporation is the parent company of CBS Interactive, Inc.
Video: http://www.prnewswire.com/mnr/simonandschuster/34149
Simon & Schuster, Inc.
CONTACT: Adam Rothberg, Vice President, Corporate Communications of Simon & Schuster, Inc., +1-212-698-1132, or adam.rothberg@simonandschuster.com; Brian Belfiglio, Vice President, Director of Publicity of Scribner, +1-212-632-4945, or brian.belfiglio@simonandschuster.com,; Shannon Jacobs of CBS Mobile, +1-212-975-3161, or sljacobs@cbs.com; Jeff Klein of Dan Klores Communications, +1-212-685-4300, or jeff_klein@dkcnews.com, for Marvel Entertainment, Inc.
Web site: http://www.multivu.com/ http://www.nishere.com/ http://www.simonsays.com/
Verizon Wireless to Host PDA and Smartphone Workshops at Staten Island Communications Store'20 Things a PDA Can Do For You' Teaches Customers Productive New Wireless Applications; Workshop Offered on August 8
ORANGEBURG, N.Y., July 25 /PRNewswire/ -- Ask anyone what they need more of and the answer will most likely be 'time.' It's our most valuable commodity and why so many consumers are turning to Smartphones and PDAs to help manage it. Wireless customers who apply business principles to manage their personal lives can save time, be more productive and, ultimately, carry a lighter load at work and at home.
Now, for the first time, consumers who don't have access to an IT department or a help desk, can turn to Verizon Wireless for help in learning how to maximize all the capabilities new wireless devices have to offer. The company is offering free PDA and Smartphone workshops at Verizon Wireless Communications Stores throughout the New York Metro area to help customers learn how to make these devices work for them. Each class, aptly named "20 Things a PDA Can Do For You," will focus on a particular product and service so customers can get in-depth information, quickly.
The workshop will be offered at the Verizon Wireless Communications Store at 2791 Richmond Avenue Pergament Mall Shopping Center, next to the Staten Island Mall, Friday, August 8, from noon to 3 p.m.
Ideal for everyone from the small business owner to the soccer mom, customers will receive free hands-on tutorials from local Verizon Wireless data experts.
"The traditional business tool has become a life management tool," said Pat Devlin, president of the company's New York Metro Region. "These wireless devices are packed with rich, multimedia capabilities and services, allowing customers to stay connected to work, family and friends while on-the-go. Participants will receive uninterrupted hands-on instruction that will enable them to maximize our wireless products and services to meet their everyday communications needs."
Classes are expected to fill up quickly and seating is limited. The workshop will focus on Palm products such as the new Centro. Topics covered will include text messaging, music synchronization, email management and Internet browsing.
Registration is preferred but walk-ins are welcome. To register, call 718-982-4980 or visit http://www.nympdaworkshops.wds.vzw.com/
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 68.7 million customers. Headquartered in Basking Ridge, N.J., with 70,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: David Samberg of Verizon Wireless, +1-845-365-7212, David.Samberg@VerizonWireless.com; or Gisela Lopez for Verizon Wireless, +1-973-968-7928, gisela.lopez@vivianipr.com
Web site: http://www.verizonwireless.com/ http://www.nympdaworkshops.wds.vzw.com/ http://www.verizonwireless.com/multimedia
[video] Paul Egan, CEO of FreeStar Technology Corp., Discusses New Agreement With Chinese Credit Card Company in Exclusive Interview on WallSt.net's 3-Minute Press Show
SANTO DOMINGO, Dominican Republic, July 25 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (BULLETIN BOARD: FSRT) , an international card payment processing and technology company, today announced that the company's CEO, Paul Egan, is featured in an exclusive interview on WallSt.net's 3-Minute Press Show.
The interview gives viewers an overview of the company, and the significance of the company's latest press release.
To view the clip in its entirety, visit:
http://www.tv.wallst.net/r/3-minute-press/fsrt/175/771
About FreeStar Technology Corporation
FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers. For more information, please visit http://www.freestartech.com/ and http://www.rahaxi.com/.
About WallStreet Direct, Inc.
WallStreet Direct, Inc. operates WallSt.net (http://www.wallst.net/), a leading source of up-to-the-minute business news, comprehensive financial tools and original multimedia content for the investment community. In addition to WallSt.net, WallStreet Direct owns and operates WallStRadio (http://radio.wallst.net/), an online hub for business podcasts from well-known business news personalities and publishers, and WallStTV (http://tv.wallst.net/), a hub for business and finance video content. We have received ten thousand dollars from FreeStar Technology Corp. for media and advertising services. To read our full disclaimer, and for a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.php.
Contact:
WallStreet Direct, Inc.
800-4-WALLST
Freestar Technology Corp.; WallStreet Direct, Inc.
CONTACT: WallStreet Direct, Inc., 1-800-4-WALLST
Web site: http://www.wallst.net/ http://www.freestartech.com/ http://www.rahaxi.com/
[video] Jeff Hoffman, President and CEO of uBid.com Holdings, Inc. Discusses RedTag.com in Exclusive Interview on WallSt.net's 3-Minute Press Show
CHICAGO, July 25 /PRNewswire-FirstCall/ -- uBid.com Holdings, Inc. (BULLETIN BOARD: UBHI) , a leading asset recovery solutions company for the world's most trusted brands, today announced that the company's President & CEO, Jeff Hoffman is featured in an exclusive interview on WallSt.net's 3-Minute Press Show.
The interview gives viewers an overview of the company, and the significance of the company's latest press release.
To view the clip in its entirety, visit:
http://www.tv.wallst.net/r/3-minute-press/ubidholdings-ubhi/175/769
About uBid.com Holdings, Inc.
uBid.com Holdings, Inc. is the world's leading excess inventory solutions company that links brand name sellers with customers around the globe. uBid.com Holdings, Inc. does this through its multi-channel asset-recovery solution that includes an online auction platform located at http://www.ubid.com/, physical facilities liquidation and a business-to-business selling platform. Brand name sellers are able to reduce excess inventory more efficiently and profitably than ever before. And however they choose to buy, shoppers now have an inside connection to the world's most trusted brands at prices far below retail. With more than 10 years experience in online commerce, uBid Holdings, Inc. is headquartered in Chicago, IL.
uBid.com Holdings, Inc. is publicly-traded on the NASD OTC bulletin board (UBHI.OB).
About WallStreet Direct, Inc.
WallStreet Direct, Inc. operates WallSt.net (http://www.wallst.net/), a leading source of up-to-the-minute business news, comprehensive financial tools and original multimedia content for the investment community. In addition to WallSt.net, WallStreet Direct owns and operates WallStRadio (http://radio.wallst.net/), an online hub for business podcasts from well-known business news personalities and publishers, and WallStTV (http://tv.wallst.net/), a hub for business and finance video content. We have received two hundred eighty dollars from uBid.com Holdings, Inc. for the dissemination of this press release. To read our full disclaimer, and for a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.php.
Contact: WallStreet Direct, Inc.
800-4-WALLST
uBid.com Holdings, Inc.; WallStreet Direct, Inc.
CONTACT: WallStreet Direct, Inc., 1-800-4-WALLST
Web site: http://www.ubid.com/ http://www.wallst.net/ http://radio.wallst.net/ http://tv.wallst.net/
Netflix Announces Q2 2008 Financial ResultsSubscribers - 8.4 millionRevenue - $337.6 millionGAAP Net Income - $26.6 millionGAAP EPS - $0.42 per diluted share
LOS GATOS, Calif., July 25 /PRNewswire-FirstCall/ -- Netflix, Inc. today reported results for the second quarter ended June 30, 2008.
"We are pleased to announce another quarter of strong financial results," said Reed Hastings, Netflix co-founder and chief executive officer.
"This quarter we delivered 25 percent year-over-year growth in subscribers, our lowest SAC ever as a public company, and a 14 percent increase in EPS for the quarter. And we made important progress on our strategy of offering our subscribers the option of streaming video directly to their TVs with the introduction of The Netflix Player by Roku(TM) in May and the announcement earlier this month of our agreement with Microsoft to embed Netflix streaming capability in the Xbox 360 video game and entertainment system."
Second-Quarter 2008 Financial Highlights
Subscribers. Netflix ended the second quarter of 2008 with approximately 8,411,000 total subscribers, representing 25 percent year-over-year growth from 6,742,000 total subscribers at the end of the second quarter of 2007 and 2 percent sequential growth from 8,243,000 subscribers at the end of the first quarter of 2008.
Net subscriber change in the quarter was an increase of 168,000, compared to a decrease of 55,000 for the same period of 2007 and an increase of 764,000 for the first quarter of 2008.
Gross subscriber additions for the quarter totaled 1,384,000, representing 35 percent year-over-year growth from 1,028,000 gross subscriber additions in the second quarter of 2007 and 26 percent quarter-over-quarter decline from 1,862,000 gross subscriber additions in the first quarter of 2008.
Of the 8,411,000 total subscribers at quarter end, 98 percent, or 8,235,000 were paid subscribers. The other 2 percent, or 176,000, were free subscribers. Paid subscribers represented 98 percent of total subscribers at the end of the second quarter of 2007 and at the end of the first quarter of 2008.
Revenue for the second quarter of 2008 was $337.6 million, representing 11 percent year-over-year growth from $303.7 million for the second quarter of 2007, and 4 percent sequential increase from $326.2 million for the first quarter of 2008.
Gross margin (1) for the second quarter of 2008 was 31.8 percent, compared to 35.2 percent for the second quarter of 2007 and 31.7 percent for the first quarter of 2008.
GAAP net income for the second quarter of 2008 was $26.6 million, or $0.42 per diluted share, compared to GAAP net income of $25.6 million, or $0.37 per diluted share, for the second quarter of 2007 and GAAP net income of $13.4 million, or $0.21 per diluted share, for the first quarter of 2008. GAAP net income grew 4 percent on a year-over-year basis and GAAP EPS grew 14 percent on a year-over-year basis.
Non-GAAP net income was $28.7 million, or $0.45 per diluted share, for the second quarter of 2008, compared to non-GAAP net income of $27.2 million, or $0.39 per diluted share, for the second quarter of 2007 and non-GAAP net income of $15.2 million, or $0.23 per diluted share, for the first quarter of 2008. Non-GAAP net income grew 5 percent on a year-over-year basis and non- GAAP EPS grew 15 percent on a year-over-year basis.
Non-GAAP net income equals net income on a GAAP basis before stock-based compensation expense, net of taxes.
Stock-based compensation for the second quarter of 2008 was $2.9 million, compared to $2.8 million in the second quarter of 2007 and $3.1 million in the first quarter of 2008. Stock-based compensation is presented in the same lines of the Consolidated Statements of Operations as cash compensation paid to the same individuals.
Subscriber acquisition cost(2) for the second quarter of 2008 was $28.95 per gross subscriber addition, compared to $44.02 for the same period of 2007 and $29.50 for the first quarter of 2008.
Churn(3) for the second quarter of 2008 was 4.2 percent, compared to 4.6 percent for the second quarter of 2007 and 3.9 percent for the first quarter of 2008. Churn includes free subscribers as well as paying subscribers who elect not to renew their monthly subscription service during the quarter.
Free cash flow(4) for the second quarter of 2008 was $12.5 million, compared to $6.5 million in the second quarter of 2007 and $4.7 million for the first quarter of 2008.
Cash provided by operating activities for the second quarter of 2008 was $77.9 million, compared to $65.1 million for the second quarter of 2007 and $77.7 million for the first quarter of 2008.
(1) Gross margin is defined as revenues less cost of subscription and
fulfillment expenses divided by revenues.
(2) Subscriber acquisition cost is defined as the total marketing expense,
which includes stock-based compensation for marketing personnel, on
the Company's Consolidated Statements of Operations divided by total
gross subscriber additions during the quarter.
(3) Churn is defined as customer cancellations in the quarter divided by
the sum of beginning subscribers and gross subscriber additions,
divided by three months.
(4) Free cash flow is defined as cash provided by operating activities
excluding the non-operational cash flows from purchases and sales of
short-term investments, cash flows from investment in business and
cash flows from financing activities.
Business Outlook
The Company's performance expectations for the third and fourth quarters of 2008 and full-year 2008 are as follows:
Third-Quarter 2008
-- Ending subscribers of 8.675 million to 8.875 million
-- Revenue of $343 million to $348 million
-- GAAP net income of $16 million to $21 million
-- GAAP EPS of $0.26 to $0.34 per diluted share
Fourth-Quarter 2008
-- Ending subscribers of 9.1 million to 9.7 million
-- Revenue of $357 million to $367 million
-- GAAP net income of $18 million to $23 million
-- GAAP EPS of $0.29 to $0.37 per diluted share
Full-Year 2008
-- Ending subscribers of 9.1 million to 9.7 million, unchanged from prior
guidance
-- Revenue of $1.364 billion to $1.379 billion, tightened from $1.35
billion to $1.39 billion
-- GAAP net income of $75 million to $83 million, unchanged from prior
guidance
-- GAAP EPS of $1.19 to $1.31 per diluted share, increased from $1.16 to
$1.29 per diluted share
Float and Trading Plans
The Company estimates the public float at approximately 49,996,277 shares as of June 30, 2008, up approximately 1 percent from 49,498,642 shares as of March 31, 2008, based on registered shares held in street name with the Depository Trust and Clearing Corporation. From time to time executive officers of Netflix may elect to buy or sell stock in Netflix. All open market sales by executive officers are made pursuant to the terms of 10b5-1 Trading Plans approved by the Company and generally adopted no less than three months prior to the first date of sale under such plan.
Earnings Call
The Netflix earnings call will be webcast today at 8:30 a.m. Eastern Time / 5:30 a.m. Pacific Time, and may be accessed at http://ir.netflix.com/. The call will consist of prepared remarks, followed by a Q&A with questions submitted via email. Please email your questions to dcrawford@netflix.com. The company will read the questions aloud on the call and respond to as many questions as possible in the hour allotted to the earnings call.
Following completion of the call, a replay of the webcast will be available at http://ir.netflix.com/. The telephone replay of the call will be available from approximately 8:30 a.m. Pacific Time on July 25, 2008 through July 29, 2008 at 9:00 p.m. Pacific Time. To listen to the telephone replay, call (719) 457-0820, access code 4599200.
Use of Non-GAAP Measures
Management believes that non-GAAP net income is a useful measure of operating performance because it excludes the non-cash impact of stock option accounting. In addition, management believes that free cash flow is a useful measure of liquidity because it excludes the non-operational cash flows from purchases and sales of short-term investments, cash flows from investment in business and cash flows from financing activities. However, these non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net income and net cash provided by operating activities, or other financial measures prepared in accordance with GAAP. A reconciliation to the GAAP equivalents of these non-GAAP measures is contained in tabular form on the attached unaudited financial statements.
About Netflix
Netflix, Inc is the world's largest online movie rental service, providing more than eight million subscribers access to over 100,000 DVD titles plus a growing library of over 12,000 titles that can be watched instantly on their PCs. The company offers nine subscription plans, starting at only $4.99 per month. There are no due dates and no late fees -- ever. All Netflix plans include both DVDs delivered to subscribers' homes and, for no additional fee, movies and TV series that can be started in as little as 30 seconds on subscribers' PCs. DVDs are delivered free to members by first class mail, with a postage-paid return envelope, from over 100 U.S. shipping points. Nearly 95 percent of Netflix subscribers live in areas that can be reached with generally one business day delivery. Netflix offers personalized movie recommendations and has more than two billion movie ratings. For more information, visit http://www.netflix.com/.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our subscriber growth, revenue, GAAP net income and earnings per share for the third and fourth quarters of 2008 and the full-year 2008. The forward-looking statements in this release are subject to risks and uncertainties that could cause actual results and events to differ, including, without limitation: our ability to attract new subscribers and retain existing subscribers; impacts arising out of competition; our ability to manage our subscriber acquisition cost as well as the cost of content delivered to our subscribers; changes in pricing; fluctuations in consumer usage of our service; conditions that effect our delivery through the U.S. Postal Service, including regulatory changes and increases in first class postage; increases in the costs of acquiring DVDs or electronic content; customer spending on DVDs and related products; disruption in service on our website or with our computer systems; deterioration of the U.S. economy or conditions specific to online commerce or the filmed entertainment industry; and, widespread consumer adoption of different modes of viewing in-home filmed entertainment. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 28, 2008. We undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Netflix, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands, except per share data)
Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2008 2008 2007 2008 2007
Revenues $337,614 $326,183 $303,693 $663,797 $609,013
Cost of revenues:
Subscription 193,769 187,156 166,838 380,925 332,027
Fulfillment expenses * 36,318 35,649 29,855 71,967 59,638
Total cost of
revenues 230,087 222,805 196,693 452,892 391,665
Gross profit 107,527 103,378 107,000 210,905 217,348
Operating expenses:
Technology and
development * 22,670 20,516 18,907 43,186 34,622
Marketing * 40,062 54,936 45,255 94,998 117,393
General and
administrative * 13,568 13,816 13,847 27,384 26,035
Gain on disposal of
DVDs (2,263) (833) (2,282) (3,096) (3,190)
Gain on legal
settlement - - (7,000) - (7,000)
Total operating
expenses 74,037 88,435 68,727 162,472 167,860
Operating income 33,490 14,943 38,273 48,433 49,488
Other income (expense):
Interest and other
income (expense) 2,404 7,660 4,972 10,064 10,322
Income before income
taxes 35,894 22,603 43,245 58,497 59,810
Provision for income
taxes 9,333 9,225 17,665 18,558 24,366
Net income $26,561 $13,378 $25,580 $39,939 $35,444
Net income per share:
Basic $0.43 $0.21 $0.38 $0.64 $0.52
Diluted $0.42 $0.21 $0.37 $0.62 $0.50
Weighted average common
shares outstanding:
Basic 61,782 62,776 68,031 62,262 68,360
Diluted 63,857 64,840 69,891 64,341 70,276
*Stock-based compensation
included in expense
line items:
Fulfillment expenses $108 $106 $82 $214 $228
Technology and
development 849 996 831 1,845 1,588
Marketing 455 509 521 964 1,052
General and
administrative 1,493 1,519 1,384 3,012 2,753
Reconciliation of Non-
GAAP Financial Measures
(unaudited)
Non-GAAP net income
reconciliation:
GAAP net income $26,561 $13,378 $25,580 $39,939 $35,444
Stock-based
compensation 2,905 3,130 2,818 6,035 5,621
Income tax effect of
stock-based
compensation (755) (1,277) (1,150) (2,032) (2,284)
Non-GAAP net income $28,711 $15,231 $27,248 $43,942 $38,781
Non-GAAP net income per
share:
Basic $0.46 $0.24 $0.40 $0.71 $0.57
Diluted $0.45 $0.23 $0.39 $0.68 $0.55
Weighted average common
shares outstanding:
Basic 61,782 62,776 68,031 62,262 68,360
Diluted 63,857 64,840 69,891 64,341 70,276
Netflix, Inc.
Consolidated Balance Sheets
(unaudited)
(in thousands, except share and par value data)
As of
June 30, December 31,
2008 2007
Assets
Current assets:
Cash and cash equivalents $144,289 $177,439
Short-term investments 169,175 207,703
Prepaid expenses 7,631 6,116
Prepaid revenue sharing expenses 14,861 6,983
Deferred tax assets 3,339 2,254
Other current assets 19,859 16,037
Total current assets 359,154 416,532
Content library, net 126,928 132,455
Property and equipment, net 90,779 77,326
Deferred tax assets 18,988 16,242
Other assets 10,767 4,465
Total assets $606,616 $647,020
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $109,000 $104,445
Accrued expenses 27,462 36,466
Deferred revenue 67,886 71,665
Total current liabilities 204,348 212,576
Other liabilities 11,853 3,695
Total liabilities 216,201 216,271
Stockholders' equity:
Common stock, $0.001 par value;
160,000,000 shares authorized
at June 30, 2008 and December 31,
2007; 61,910,603 and 64,912,915
issued and outstanding at June
30, 2008 and December 31, 2007,
respectively 62 65
Additional paid-in capital 324,865 402,710
Accumulated other comprehensive
(loss) income (814) 1,611
Retained earnings 66,302 26,363
Total stockholders' equity 390,415 430,749
Total liabilities and
stockholders' equity $606,616 $647,020
Netflix, Inc.
Consolidated Statements of Cash Flows
(unaudited)
(in thousands)
Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2008 2008 2007 2008 2007
Cash flows from
operating activities:
Net income $26,561 $13,378 $25,580 $39,939 $35,444
Adjustments to
reconcile net income
to net cash provided by
operating activities:
Depreciation and
amortization of
property, equipment
and intangibles 7,849 6,359 5,151 14,208 9,776
Amortization of
content library 57,012 57,570 50,985 114,582 100,427
Amortization of
discounts and
premiums on
investments 177 139 11 316 (71)
Stock-based
compensation expense 2,905 3,130 2,818 6,035 5,621
Excess tax benefits
from stock-based
compensation (2,554) (820) (12,018) (3,374) (16,094)
Gain on sale of
short-term
investments 78 (4,320) (47) (4,242) (194)
Gain on disposal of
DVDs (4,059) (2,592) (5,197) (6,651) (7,794)
Deferred taxes (2,514) (836) (505) (3,350) (760)
Changes in operating
assets and
liabilities:
Prepaid expenses and
other current
assets (10,659) 2,562 5,660 (8,097) (4,606)
Accounts payable 9,124 (1,199) (17,834) 7,925 (6,435)
Accrued expenses (14,551) 7,827 14,244 (6,724) 21,943
Deferred revenue (489) (3,290) (3,712) (3,779) (9,156)
Other assets and
liabilities 9,035 (161) 1 8,874 65
Net cash provided
by operating
activities 77,915 77,747 65,137 155,662 128,166
Cash flows from
investing activities:
Purchases of short-term
investments (65,937) (91,954) (53,906) (157,891) (318,140)
Proceeds from sale of
short-term investments 21,682 175,319 28,693 197,001 124,115
Purchases of property
and equipment (14,662) (12,431) (8,968) (27,093) (26,981)
Acquisition of
intangible asset (1,000) - - (1,000) -
Acquisitions of content
library (55,175) (65,123) (57,353) (120,298) (125,894)
Proceeds from sale of
DVDs 5,379 4,507 7,370 9,886 12,996
Investment in business - (6,000) - (6,000) -
Other assets 20 8 267 28 164
Net cash (used in)
provided by
investing
activities (109,693) 4,326 (83,897) (105,367) (333,740)
Cash flows from
financing activities:
Proceeds from issuance
of common stock 4,524 8,542 2,681 13,066 3,447
Excess tax benefits
from stock-based
compensation 2,554 820 12,018 3,374 16,094
Repurchases of common
stock - (99,885) (30,215) (99,885) (30,215)
Net cash provided
by (used in)
financing
activities 7,078 (90,523) (15,516) (83,445) (10,674)
Net decrease in cash
and cash equivalents (24,700) (8,450) (34,276) (33,150) (216,248)
Cash and cash
equivalents, beginning
of period 168,989 177,439 218,458 177,439 400,430
Cash and cash
equivalents, end of
period $144,289 $168,989 $184,182 $144,289 $184,182
Non-GAAP free cash flow
reconciliation:
Net cash provided by
operating activities $77,915 $77,747 $65,137 $155,662 $128,166
Purchases of property
and equipment (14,662) (12,431) (8,968) (27,093) (26,981)
Acquisition of
intangible asset (1,000) - - (1,000) -
Acquisitions of content
library (55,175) (65,123) (57,353) (120,298) (125,894)
Proceeds from sale of
DVDs 5,379 4,507 7,370 9,886 12,996
Other assets 20 8 267 28 164
Non-GAAP free cash flow $12,477 $4,708 $6,453 $17,185 $(11,549)
Netflix, Inc.
Consolidated Other Data
(unaudited)
(in thousands, except percentages,
average monthly revenue per paying
subscriber and subscriber
acquisition cost)
As of / Three Months Ended
June 30, March 31, June 30,
2008 2008 2007
Subscriber information:
Subscribers: beginning of period 8,243 7,479 6,797
Gross subscriber additions: during
period 1,384 1,862 1,028
Gross subscriber additions year-
to-year change 34.6% 22.5% (3.9%)
Gross subscriber additions
quarter-to-quarter sequential
change (25.7%) 24.5% (32.4%)
Less subscriber cancellations:
during period (1,216) (1,098) (1,083)
Subscribers: end of period 8,411 8,243 6,742
Subscribers year-to-year change 24.8% 21.3% 30.4%
Subscribers quarter-to-quarter
sequential change 2.0% 10.2% (0.8%)
Free subscribers: end of period 176 141 133
Free subscribers as percentage of
ending subscribers 2.1% 1.7% 2.0%
Paid subscribers: end of period 8,235 8,102 6,609
Paid subscribers year-to-year
change 24.6% 21.4% 31.7%
Paid subscribers quarter-to-
quarter sequential change 1.6% 10.6% (1.0%)
Average monthly revenue per paying
subscriber $13.78 $14.09 $15.24
Churn 4.2% 3.9% 4.6%
Subscriber acquisition cost $28.95 $29.50 $44.02
Margins:
Gross margin 31.8% 31.7% 35.2%
Operating margin 9.9% 4.6% 12.6%
Net margin 7.9% 4.1% 8.4%
Expenses as percentage of revenues:
Technology and development 6.7% 6.3% 6.2%
Marketing 11.9% 16.8% 14.9%
General and administrative 4.0% 4.2% 4.6%
Gain on disposal of DVDs (0.7%) (0.2%) (0.8%)
Gain on legal settlement - - (2.3%)
Total operating expenses 21.9% 27.1% 22.6%
Year-to-year change:
Total revenues 11.2% 6.8% 26.9%
Fulfillment expenses 21.6% 19.7% 35.9%
Technology and development 19.9% 30.6% 57.0%
Marketing (11.5%) (23.8%) (3.8%)
General and administrative (2.0%) 13.4% 104.4%
Gain on disposal of DVDs (0.8%) (8.3%) 136.7%
Total operating expenses 7.7% (10.8%) 5.9%
Netflix, Inc.
CONTACT: IR, Deborah Crawford, VP, Investor Relations, +1-408-540-3712, or PR, Steve Swasey, VP, Corporate Communications, +1-408-540-3947, both of Netflix, Inc.
Web site: http://www.netflix.com/
AT&T Announces $400 Million Planned Investment to Bring New Technology to Consumers in Alabama
BIRMINGHAM, Ala., July 25 /PRNewswire-FirstCall/ -- AT&T Inc. announced plans to invest approximately $400 million over the next several years in fiber network upgrades, further broadband deployment and Internet-based technologies to bring new services, including innovative television, to Alabama consumers, upon approval of agreements being considered by city and county governments.
"We commend the 213 city and county leaders in 34 individual Alabama communities for their vision in helping to ensure that Alabama is not left behind in efforts to give consumers more choices in the video services market," said Fred McCallum, state president of AT&T Alabama. "The local support shown most recently by the Birmingham City Council, including council President Carole Smitherman, and Birmingham Mayor Larry Langford, and the Jefferson County commissioners, including commission President Bettye Fine Collins, will give consumers a new communications and entertainment experience. We look forward to delivering advanced television, voice and Internet services to Alabama."
On July 8, the Birmingham City Council, with support from the mayor, approved an agreement with AT&T that will enable AT&T to provide these new services to local consumers. That same day, the Jefferson County commission approved a similar agreement.
They join 34 communities across the state in approving similar agreements with AT&T, including Hoover, Bessemer, Midfield, Helena, Bay Minette, Vestavia Hills, Clanton, Tuscaloosa County, Jasper, Madison and Albertville.
"We are continuing to work with other cities and counties around the state that are critical to our investment decisions and look forward to completing these negotiations in the near future," said McCallum.
In part, the new technology upgrades being considered by AT&T will support Internet Protocol (IP)-based television, high speed Internet and Voice over Internet Protocol (VoIP) services. AT&T is the only national provider to offer a 100 percent IP-based television service, making AT&T U-verse(SM) TV one of the most robust and feature-rich services available today. The service includes features such as the ability to record up to four programs at once using a digital video recorder (DVR); Web and Mobile Remote Access to a DVR; access to customized weather, sports, traffic and stock information; and built-in picture-in-picture browsing.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. In 2008, AT&T again ranked No. 1 on Fortune magazine's World's Most Admired Telecommunications Company list and No. 1 on America's Most Admired Telecommunications Company list. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T Inc.
CONTACT: Terri Denard of AT&T Inc., +1-205-714-0777, cell, +1-205-915-7493, terri.denard@att.com
Web site: http://www.att.com/
China VoIP & Digital Telecom Inc. Subsidiary Yinquan Technology will Host CIO Seminar
JINAN, Shandong, China, July 24 /Xinhua-PRNewswire-FirstCall/ -- Jinan Yinquan Technology, a wholly-owned subsidiary of China VoIP & Digital Telecom Inc. (BULLETIN BOARD: CVDT) , will jointly host the Shandong Enterprises CIO Net Communications and Virtualization Technology Seminar on July 26, 2008 at Yinquan's conference hall with the co-sponsor, ComputerWorld Magazine.
Participating in the seminar will be 30 CIOs from companies in the industrial manufacturing, energy and electric power industries. The keynote speaker, the CIO of Zhejiang Geely Group, will share with attendees details of its successful implementation of VoIP and its overall progress in developing an enterprise IT information system (Geely's entire VoIP system is provided by Jinan Yinquan Technology). Attendees will discuss and exchange information about VoIP, virtualization solutions and information technology systems in enterprises. Executives from the Shandong Information Industry Office and related departments will also participate in the seminar.
This seminar will help Yinquan assess the level of demand for enterprise communication systems among different companies as well as receive feedback on Yinquan's product offerings. The seminar will also help participating CIOs understand Yinquan's unique technology and the value it provides to a business. The event will showcase Yinquan's products and services and at the same time strengthen its relationships with CIOs from companies in Shandong province.
More information can be found at http://www.chinavoip-telecom.com/ .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Yinquan Investor Contacts:
Michelle Wong
Tel: +86-531-8702-7114
Email: michellewong@yinquan.cn
Great Wall Research LLC
John Armstrong
Tel: +1-203-536-1928
Email: jarmstrong@greatwallresearch.com
China VoIP & Digital Telecom Inc.
CONTACT: Michelle Wong of Yinquan, +86-531-8702-7114, or michellewong@yinquan.cn; or John Armstrong of Great Wall Research LLC for China VoIP & Digital Telecom Inc., +1-203-536-1928, or jarmstrong@greatwallresearch.com
Web site: http://www.chinavoip-telecom.com/
Oracle Names Bruce R. Chizen To Board Of Directors
REDWOOD SHORES, Calif., July 24 /PRNewswire-FirstCall/ -- * Bruce R. Chizen, former Chief Executive Officer of Adobe Systems Incorporated, will join Oracle's Board of Directors.
* Mr. Chizen will become Oracle's thirteenth board member, joining Oracle CEO Lawrence J. Ellison, Jeffrey Berg, Raymond Bingham, Dr. Michael J. Boskin, Safra Catz, George H. Conrades, Hector Garcia-Molina, Jeffrey Henley, Jack Kemp, Don Lucas, Charles Phillips and Naomi Seligman.
* Mr. Chizen, as former CEO of Adobe, brings a wealth of technology industry experience and leadership to his Oracle director role.
* Additionally, he serves as a director of Synopsys, Inc. and is on the Boards of several Bay Area non-profit organizations including The Silicon Valley Education Foundation and 1st Act Silicon Valley.
Supporting Quotes
* "Bruce will be a tremendous addition to our Board," said Oracle Chairman Jeffrey O. Henley. "His extensive technology industry experience and customer-focused vision will be an asset to Oracle as we move forward with our goal to provide our customers with products and services that will help their businesses grow and prosper."
* "Oracle is renowned for its innovative products, visionary business strategy and leadership," said Bruce Chizen. "I look forward to working with the company's excellent management team and actively contributing to Oracle's continued growth and success."
Supporting Resources
Oracle's Board of Directors: http://www.oracle.com/corporate/board.html
Oracle Investor Relations: http://www.oracle.com/investor
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
CONTACT: Deborah Hellinger of Oracle, +1-650-506-5158, deborah.hellinger@oracle.com
Web site: http://www.oracle.com/
Verizon Wireless Activates New Cell Site in Marion County, Ohio
MARION, Ohio, July 24 /PRNewswire/ -- Verizon Wireless, the wireless company with the highest customer loyalty, has activated a new cell site in Marion County that improves its network between Marion and Waldo along portions of State Route 23 and Columbus Sandusky Road South.
With the improved network coverage, more customers can use their wireless phones to make calls; send and receive email and text, picture and video messages; download music, games and ringtones; and view high-quality videos while enjoying clearer reception and fewer dropped calls.
"Network reliability is the No. 1 reason that customers choose and stay with Verizon Wireless," said Roger Tang, president-Ohio/Pennsylvania/West Virginia Region, Verizon Wireless. "Getting through on the first try and maintaining a connection are important to our customers. We continue to optimize our network so that it remains the most reliable in the nation."
This new cell site is part of Verizon Wireless' continual effort to expand coverage, increase capacity and enhance the quality of its wireless voice and data network in Ohio and throughout the country. Verizon Wireless has invested more than $45 billion since it was formed -- $5.5 billion on average every year -- to increase the coverage and capacity of its national network and to add new services. Last year, the company invested nearly $190 million in its Ohio network improvements.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 67.2 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia .
Verizon Wireless
CONTACT: Laura Merritt of Verizon Wireless, +1-614-560-2605, laura.merritt@verizonwireless.com; or George Heddleston for Verizon Wireless, +1-866-667-9110, gheddleston@woh.rr.com
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
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