Companies news of 2008-07-30 (page 1)
RightNow Technologies Announces Second Quarter 2008 Financial Results
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RightNow Technologies Announces Second Quarter 2008 Financial Results
BOZEMAN, Mont., July 30 /PRNewswire-FirstCall/ -- RightNow(R) Technologies, Inc. today announced results for the second quarter ended June 30, 2008. Total revenue in the second quarter of 2008 was $35.2 million, compared to $26.5 million in the second quarter of 2007, reflecting 33% growth in revenue over the second quarter of 2007. Net loss in the second quarter of 2008 was $(3.1) million or $(0.09) per share, compared to a net loss of $(5.7) million or $(0.17) per share, in the second quarter of 2007. Non-GAAP net loss per share in the second quarter of 2008, which excludes stock-based compensation charges of $1.9 million, was $(1.2) million or $(0.04) per share, as compared to Non-GAAP net loss of $(3.8) million or $(0.11) per share, in the second quarter of 2007.
Revenue for the six months ended June 30, 2008 was $68.1 million, compared to $52.2 million for the comparable period in 2007. Net loss for the six months ended June 30, 2008 was $(6.5) million or $(0.19) per share, as compared to $(11.7) million or $(0.36) per share, for the comparable period in 2007. Non-GAAP net loss for the six months ended June 30, 2008, which excludes stock-based compensation charges of $3.2 million, was $(3.4) million or $(0.10) per share, as compared to Non-GAAP net loss of $(8.5) million or $(0.26) per share, for the comparable period in 2007.
New, renewed and expanded customer relationships during the second quarter of 2008 included Activision, Beretta USA, Department of Homeland Security, Enterprise Rent-A-Car, Hertz Europe, LifeLock, NutriSystem, NVIDIA, RealNetworks, Sovereign Bank, and Virgin Mobile Australia.
"We remain focused on execution and believe we are positioned well to take advantage of a tremendous market opportunity," stated Greg Gianforte, founder and CEO. "Our success is being driven by the strength of our solutions which enable our clients to retain and enhance relationships with existing customers, provide great customer experiences, and demonstrate a quick and measurable return on investment. This core value proposition resonates at the highest executive levels within our enterprise target market."
"We are pleased to report another strong quarter with revenue and earnings above guidance," said Jeff Davison, CFO. "This quarter was our sixth consecutive quarter of operating margin improvement as we continue to gain operating leverage through our land and expand strategy. We remain positive about the growth opportunities we see in the second half of 2008 and are raising our full year revenue guidance."
Guidance
-- For the full year 2008, revenue is expected to be in the range of $141 to $143 million, with recurring revenue growth of approximately 25%.
-- Net loss per share for the full year 2008 is expected to be in the range of $(0.30) to $(0.26). Non-GAAP net loss per share, which excludes stock-based compensation, is expected to be in the range of $(0.11) to $(0.07) for the full year 2008.
-- Cash from operations for the full year 2008 is expected to be in the range of $25 to $30 million.
-- For the third quarter of 2008, revenue is expected to be in the range of $36 to $37 million. Third quarter net loss per share is expected to be in the range of $(0.08) to $(0.06). Non-GAAP net loss per share, which excludes stock-based compensation, is expected to be in the range of $(0.03) to $(0.01) for the third quarter of 2008.
Quarterly Conference Call
RightNow Technologies will discuss its quarterly results today via teleconference at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time.) To access the call, please dial 877-440-5786, or outside the U.S. 719-325-4873, at least five minutes prior to the 2:30 p.m. MT start time. A live webcast of the call will also be available at http://investor.rightnow.com/events.cfm under the Investor Webcasts menu. An audio replay will be available between 5:30 p.m. MT on July 30, 2008 and 12:00 a.m. MT on August 14, 2008 by calling 888-203-1112 or 719-457-0820, with passcode 9046901. The replay will also be available on our website at http://investor.rightnow.com/events.cfm.
About RightNow Technologies
RightNow delivers the high-impact technology solutions and services organizations need to cost-efficiently deliver a consistently superior customer experience across their frontline service, sales and marketing touch-points. Approximately 1,900 corporations and government agencies worldwide depend on RightNow to achieve their strategic objectives and better meet the needs of those they serve. RightNow is headquartered in Bozeman, Montana. For more information, please visit http://www.rightnow.com/.
RightNow is a registered trademark of RightNow Technologies, Inc. NASDAQ is a registered trademark of The NASDAQ Stock Market LLC.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management's future strategic plans. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
The risks and uncertainties referred to above include, but are not limited to, risks associated with our business model; our ability to develop or acquire, and gain market acceptance for, new products in a cost-effective and timely manner; the market success of our RightNow 8 product; the gain or loss of key customers; competitive pressures; our ability to expand operations; fluctuations in our earnings as a result of the impact of stock-based compensation expense; interruptions or delays in our hosting operations; breaches of our security measures; our ability to protect our intellectual property from infringement, and to avoid infringing on the intellectual property rights of third parties; our ability to manage and expand our partner relationships; our ability to expand, retain and motivate our employees and manage our growth, and general economic conditions. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, quarterly reports of Form 10-Q, and in other filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. FRNOW
RightNow Technologies, Inc.
Consolidated Balance Sheets
(In thousands) (Unaudited)
June 30, Dec 31,
2008 2007
Assets
Cash and cash equivalents $52,781 $43,681
Short-term investments 41,540 52,644
Accounts receivable 26,722 29,480
Term receivables, current 8,814 13,069
Allowance for doubtful accounts (2,177) (1,918)
Net receivables 33,359 40,631
Deferred commissions 3,970 3,336
Prepaid and other current assets 3,112 2,643
Total current assets 134,762 142,935
Long-term investments 11,925 --
Property and equipment, net 10,798 10,856
Term receivables, non-current 5,728 9,859
Intangible assets, net 7,206 7,996
Deferred commissions, non-current 2,305 1,680
Other 514 460
Total Assets $173,238 $173,786
Liabilities and Stockholders' Equity
Accounts payable $5,982 $4,386
Commissions and bonuses payable 4,279 5,044
Other accrued liabilities 11,937 11,404
Current portion of long-term debt 44 43
Current portion of deferred revenue 76,693 76,995
Total current liabilities 98,935 97,872
Long-term debt, less current portion 45 68
Deferred revenue, net of current portion 39,289 37,665
Stockholders' equity:
Common stock 34 33
Additional paid-in capital 99,187 95,377
Accumulated other comprehensive loss (787) (292)
Accumulated deficit (63,465) (56,937)
Total stockholders' equity 34,969 38,181
Total Liabilities Stockholders' Equity $173,238 $173,786
RightNow Technologies, Inc.
Consolidated Operating Statements
(In thousands, except per share amounts) (Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2008 2007 2008 2007
Revenue:
Software, hosting
and support
Recurring* $25,459 $20,341 $49,871 $39,566
Perpetual 114 352 258 946
Professional services 9,648 5,772 17,990 11,655
Total revenue 35,221 26,465 68,119 52,167
Cost of revenue:
Software, hosting
and support 5,043 4,565 10,078 8,959
Professional
services 7,810 5,036 15,095 10,207
Total cost of
revenue 12,853 9,601 25,173 19,166
Gross profit 22,368 16,864 42,946 33,001
Operating expenses:
Sales and marketing 17,627 15,788 34,445 31,515
Research and
development 4,507 4,343 8,993 8,639
General and
administrative 3,890 3,178 7,406 6,038
Total operating
expenses 26,024 23,309 50,844 46,192
Loss from operations (3,656) (6,445) (7,898) (13,191)
Interest and other
income (expense), net 519 885 1,457 1,713
Loss before income
taxes (3,137) (5,560) (6,441) (11,478)
Benefit (provision)
for income taxes 5 (181) (87) (265)
Net loss $(3,132) $(5,741) $(6,528) $(11,743)
Net loss per share:
Basic $(0.09) $(0.17) $(0.19) $(0.36)
Diluted $(0.09) $(0.17) $(0.19) $(0.36)
Shares used in the
computation:
Basic 33,582 32,983 33,557 32,921
Diluted 33,582 32,983 33,557 32,921
Supplemental
information of
stock-based
compensation
expense
included in:
Cost of software,
hosting and support $79 $79 $156 $137
Cost of professional
services 165 149 318 274
Sales and marketing 595 731 1,133 1,389
Research and
development 242 289 477 515
General and
administrative 816 743 1,079 978
Total stock-based
compensation $1,897 $1,991 $3,163 $3,293
* Recurring revenue includes software, hosting and support revenue from
term license and subscription agreements, and post contract support
services.
RightNow Technologies, Inc.
Consolidated Statements of Cash Flow
(In thousands) (Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
2008 2007 2008 2007
Operating
activities:
Net loss $(3,132) $(5,741) $(6,528) $(11,743)
Non-cash
adjustments:
Depreciation
and amortization 1,943 1,880 3,886 3,555
Stock-based
compensation 1,897 1,991 3,163 3,293
Provision
(recoveries)
for losses on
accounts receivable 26 13 115 (56)
Changes in operating
accounts:
Receivables 4,062 8,224 11,509 23,651
Prepaid expenses 5 (412) (443) (983)
Deferred commissions (809) (1,200) (1,213) (2,100)
Accounts payable (174) (60) 1,584 (1,193)
Commissions and
bonuses payable 742 (1) (781) (1,172)
Other accrued
liabilities (83) 870 451 3,751
Deferred revenue 4,001 (814) 567 (6,870)
Other 96 13 (66) (10)
Cash provided by
operating activities 8,574 4,763 12,244 10,123
Investing activities:
Net change in
short-term investments 748 (15,333) (1,222) (13,784)
Acquisition of property
and equipment (1,524) (1,351) (3,033) (3,338)
Other (12) (32) (27) (61)
Cash used by investing
activities (788) (16,716) (4,282) (17,183)
Financing activities:
Proceeds from issuance
of common stock 234 536 648 1,179
Excess tax benefit of
stock options exercised (53) 160 - 209
Payments on long-term
debt (11) (8) (22) (15)
Cash provided by
financing activities 170 688 626 1,373
Effect of foreign
exchange rates on
cash and cash
equivalents 234 208 512 321
Increase (decrease) in
cash and cash
equivalents 8,190 (11,057) 9,100 (5,366)
Cash and cash
equivalents at
beginning of period 44,591 44,899 43,681 39,208
Cash and cash
equivalents at end
of period $52,781 $33,842 $52,781 $33,842
RightNow Technologies, Inc.
Reconciliation of Non-GAAP Measurements
(Amounts in thousands, except per share amounts) (Unaudited)
Diluted Earnings Per Share Reconciliation
Three Months Ended Six Months Ended
June 30, June 30,
2008 2007 2008 2007
Net loss as reported $(3,132) $(5,741) $(6,528) $(11,743)
Add stock-based
compensation ("SBC") 1,897 1,991 3,163 3,293
Net loss before SBC $(1,235) $(3,750) $(3,365) $(8,450)
Net loss per share,
as reported $(0.09) $(0.17) $(0.19) $(0.36)
Net loss per share,
before SBC $(0.04) $(0.11) $(0.10) $ (0.26)
Shares outstanding,
as reported 33,582 32,983 33, 557 32,921
Shares outstanding,
excluding the effect
of SBC 33,582 32,983 33,557 32,921
Forward-Looking Guidance Reconciliation
Third quarter
ending
September GAAP Guidance Non-GAAP Guidance
30, 2008 From To Adjustment From To
Net loss $(2,000) $(2,600) $1,500[a] $(500) $(1,100)
Net loss
per share $(0.06) $(0.08) $(0.01) $(0.03)
Shares 33,800 33,800 33,800 33,800
Year ending
December 31,
2008
Net loss $(8,700) $(10,000) $6,200[a] $(2,500) $(3,800)
Net loss
per share $(0.26) $(0.30) $(0.07) $(0.11)
Shares 33,800 33,800 33,800 33,800
[a] Estimated stock-based compensation expense to be recorded for the
periods indicated in accordance with Statement of Financial Accounting
Standards No. 123R, Share-Based Payments, ("SFAS 123R") which is
effective for periods beginning January 1, 2006.
About Non-GAAP Financial Measures
Non-GAAP net loss and diluted net loss per share are supplemental measures of our performance that are not required by, or presented in accordance with GAAP. These non-GAAP financial measures are not intended to be used in isolation and should not be considered a substitute for net loss and net loss per share or any other performance measure determined in accordance with GAAP. We present non-GAAP net loss and net loss per share because we consider each to be an important supplemental measure of our performance.
Management uses these non-GAAP financial measures to make operational decisions, evaluate the Company's performance, prepare forecasts and determine compensation. Further, management believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the Company's performance when planning, forecasting and analyzing future periods. Our stock-based compensation expenses are expected to vary depending on the number of new grants issued, changes in our stock price, stock market volatility, expected option lives and risk-free rates of return, all of which are difficult to estimate. In calculating non-GAAP net loss and net loss per share, management excludes stock-based compensation expenses to facilitate its review of the comparability of the Company's operating performance on a period-to-period basis because such expenses are not, in management's view, related to the Company's ongoing operating performance. Management uses this view of its operating performance for purposes of comparison with its business plan and individual operating budgets and resource allocation.
Management further believes that these non-GAAP financial measures are useful to investors in providing greater transparency to the information used by management in its operational decision making. We believe that the use of non-GAAP net loss and net loss per share also facilitate a comparison of RightNow's underlying operating performance with that of other companies in our industry, which use similar non-GAAP financial measures to supplement their GAAP results.
Calculating non-GAAP net loss and net loss per share have limitations as an analytical tool, and readers should not consider these measures in isolation or as substitutes for GAAP net loss and GAAP net loss per share. In the future, we expect to incur additional stock-based compensation expenses and the exclusion of these expenses in the presentation of our non-GAAP financial measures should not be construed as an inference that these costs are unusual, infrequent or non-recurring. Investors and potential investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool, which include:
-- Other companies inside and outside of our industry may calculate non-GAAP net loss and net loss per share differently than we do, limiting their usefulness as a comparative tool; and
-- The Company's income tax expense or benefit will be ultimately based on its GAAP taxable income and actual tax rates in effect, which may differ significantly from the effective tax rate used in our non-GAAP financial measures.
In addition, the adjustments to our GAAP financial measures reflect the exclusion of stock-based compensation expenses that are recurring and will be reflected in the Company's financial results for the foreseeable future. The Company compensates for these limitations by providing specific information regarding the GAAP amount excluded from the non-GAAP financial measures. The Company further compensates for the limitations of our use of non-GAAP financial measures by presenting comparable GAAP measures more prominently. The Company evaluates the non-GAAP financial measures together with the most directly comparable GAAP financial measures.
Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures contained within this press release with our GAAP net loss and net loss per share. For more information, see the consolidated operating statements and reconciliation of non-GAAP measurements contained in this press release.
RightNow Technologies, Inc.
CONTACT: Investors, Todd Friedman, todd@blueshirtgroup.com, or Stacie Bosinoff, stacie@blueshirtgroup.com, both of The Blueshirt Group, +1-415-217-7722, for RightNow Technologies, Inc.; or Kathleen O'Boyle of RightNow Technologies, +1-406-556-3428, Cell, +1-415-407-8308, kathleen.oboyle@rightnow.com
Web site: http://www.rightnow.com/ http://investor.rightnow.com/events.cfm
Harris Stratex Networks Provides Business UpdateRestatement to Impact Current and Prior Year Financials Strong Revenue Performance on Record Order Intake
RESEARCH TRIANGLE PARK, N.C., July 30 /PRNewswire-FirstCall/ -- Harris Stratex Networks, Inc. , the leading independent supplier of turnkey wireless network solutions, today provided a business update on selected unaudited GAAP financial results for the fourth quarter of fiscal year 2008, which ended June 27, 2008. The company filed a report with the SEC on Form 8-K regarding management's determination that the company will need to restate prior period financial statements. The company also announced that the earnings release for the fourth quarter of fiscal 2008 will be rescheduled.
Strong revenue performance was achieved in the fourth quarter of fiscal 2008 and is expected to be approximately $188 million. Total revenue for the year is expected to increase by approximately 10 percent compared to previously reported combined company results for fiscal 2007. All three business segments -- North America Microwave, International Microwave and Network Operations -- generated increased revenues in fiscal 2008 compared with fiscal 2007.
The company achieved record booking levels in the fourth quarter with a 1.6 book-to-bill ratio. Increased orders came from Africa, Europe, Middle East and Russia as well as North America. Demand for the company's Eclipse(TM) product line was particularly strong when compared with prior periods.
However, expense levels in the quarter increased by approximately $13 million to $14 million compared with previous estimates, as a result of higher orders-based sales compensation expense, increased allowance for doubtful accounts charges, project charges, and outside professional services. As a result, non-GAAP earnings per share for fiscal 2008 will not meet the company's previously announced target of $0.82 per diluted share.
Operating cash flow for Q4 is expected to be positive and the year-end cash and short-term investment balance was $98.0 million.
Accelerated Technology Transition
The company continues to focus on the acceleration of the transition from higher cost legacy products to lower cost next-generation IP-based technologies. This transition, which is underway at a pace faster than originally contemplated at the time of the merger, resulted in a charge of $11 million in the fourth quarter for integration related inventory impairment of raw materials and finished goods for some of the legacy products.
Prior Period Restatement
During the course of the year-end close, accounting errors were identified by the company, which caused previously reported financial statements to be incorrect. The majority of the required adjustments related to project work- in-process accounts within the cost accounting system at one location. The total amount of these charges, which will reduce previously reported pre-tax income, is estimated to be in the range of $18 million to $25 million, and will affect the current and prior years. As a result, the company has determined that the financial statements for the first three quarters of fiscal 2008 and the fiscal years 2005 -- 2007 should no longer be relied upon.
Outlook
"The company achieved significant top line growth in all segments in fiscal 2008, and our cash position has remained strong in the second half of the year," said Harald Braun, President and Chief Executive Officer of Harris Stratex Networks. "While the additional expenses incurred in the fourth quarter delayed the expansion of our earnings, the company is well-positioned for achievement of our growth objectives as we enter the new fiscal year. The company has added customers, achieved meaningful top line growth, and developed a significantly enhanced foundation for long-term competitiveness. We must, however, continue to take action to reduce costs and expenses in the business through increased product outsourcing activities and process related restructuring actions at certain global locations. This will have associated costs in order to implement, and we expect additional restructuring and integration charges to be incurred in fiscal 2009."
"The complexities of merging the two companies has been significant, resulting in financial process and controls issues," added Braun. "New processes are being adopted and operational controls are being strengthened to address this going forward."
"As a result of the strong bookings, we believe we will carry our revenue momentum into the first quarter of fiscal 2009. We estimate that we will achieve Q1 revenues in the range of $175 million to $185 million, compared with Q1 FY 08 revenue of $172 million," said Braun.
Conference Call
Harris Stratex Networks will host a conference call today to discuss the company's business update at 5:00 p.m. Eastern Time. Those wishing to join the call should dial 303-262-2130, (no pass code required) at approximately 4:50 p.m. A replay of the call will be available starting one hour after the call's completion until August 6. To access the replay, dial 303-590-3000 (pass code: 11118063 #). A live and archived webcast of the conference call will also be available via the company's Web site at http://www.harrisstratex.com/investors/conference-call .
About Harris Stratex Networks
Harris Stratex Networks, Inc. is the world's leading independent supplier of turnkey wireless transmission solutions. The company offers reliable, flexible and scalable wireless network solutions, backed by comprehensive professional services and support. Harris Stratex Networks serves all global markets, including mobile network operators, public safety agencies, private network operators, utility and transportation companies, government agencies and broadcasters. Customers in more than 135 countries depend on Harris Stratex Networks to build, expand and upgrade their voice, data and video solutions. Harris Stratex Networks is recognized around the world for innovative, best-in-class wireless networking solutions and services. For more information, visit http://www.harrisstratex.com/ .
Forward-Looking Statements
The information contained in this document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act and Section 27A of the Securities Act. All statements, trend analyses and other information contained herein about the markets for the services and products of Harris Stratex Networks and trends in revenue, as well as other statements identified by the use of forward-looking terminology, including "anticipated", "believe", "plan", "estimate", "expect", "goal", "will", "see", "continues", "delivering", and "intend", or the negative of these terms or other similar expressions, constitute forward-looking statements. These forward-looking statements are based on estimates reflecting the current beliefs of the senior management of Harris Stratex Networks. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should therefore be considered in light of various important factors, including those set forth in this document. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include the following:
-- the volume, timing and customer, product and geographic mix of our product orders may have an impact on our operating results;
-- the failure to obtain and retain expected cost synergies from the merger;
-- continued price erosion as a result of increased competition in the microwave transmission industry;
-- the ability to achieve business plans for Harris Stratex Networks;
-- the ability to manage and maintain key customer relationships;
-- the effect of technological changes on Harris Stratex Networks' businesses;
-- the ability to maintain projected product rollouts, product functionality, anticipated cost reductions or market acceptance of planned products;
-- unanticipated future costs and expenses associated with the integration of our previously separate operations and businesses;
-- the ability of our subcontractors to perform or our key suppliers to manufacture or deliver material;
-- customers may not pay for products or services in a timely manner, or at all;
-- the failure of Harris Stratex Networks to protect its intellectual property rights and its ability to defend itself against intellectual property infringement claims by others;
-- currency and interest rate risks;
-- the impact of political, economic and geographic risks on international sales;
-- the impact of slowing growth in the wireless telecommunications market combined with supplier and operator consolidations; and
-- supplier pricing pressure.
For more information regarding the risks and uncertainties for our business as well as risks relating to the combination of the former Harris Corporation Microwave Communications Division and the former Stratex Networks, see "Risk Factors" in our form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") on August 27, 2007, as well as other reports filed by Harris Stratex Networks with the SEC from time to time. Harris Stratex Networks undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
Harris Stratex Networks, Inc.
CONTACT: Investors, Mary McGowan, Summit IR Group Inc., +1-408-404-5401, Mary@summitirgroup.com; or Media, Tonya Loggains, Harris Stratex Networks, Inc., +1-919-767-3278, Tonya.Loggains@hstx.com
Web site: http://www.harrisstratex.com/
DATATRAK International Management to Host Conference Call on August 6, 2008 to Discuss Second Quarter and First-Half Operating Results for 2008
CLEVELAND, July 30 /PRNewswire-FirstCall/ -- DATATRAK International, Inc. , a technology and services company focused on global eClinical solutions for the clinical trials industry, today announced that it will host a conference call to discuss second quarter and first-half operating results for 2008 at 4:30 p.m. ET on Wednesday, August 6, 2008.
To participate via phone, participants are asked to dial 412-858-4600 a few minutes before 4:30 p.m. ET. The conference call will also be available via live web cast on DATATRAK International, Inc.'s web site by clicking the button labeled "Click here for Live Web Cast, 2nd Quarter Earnings Call" on the Company's homepage at http://www.datatrak.net/ a few minutes before 4:30 p.m. ET.
A replay of the phone call and web cast will each be available at approximately 6:30 p.m. ET on August 6, 2008 and will run until 9:00 a.m. ET on August 14, 2008. The phone replay can be accessed by dialing 412-317-0088 (access code 421971). To access the web cast replay go to the Company's homepage at http://www.datatrak.net/ and click the button labeled "Click here for Replay of Web Cast, 2nd Quarter Earnings Call."
DATATRAK International, Inc. is a worldwide technology company focused on the provision of multi-component eClinical solutions and related services for the clinical trials industry. The Company delivers a complete portfolio of software products that were created in order to accelerate clinical research data from investigative sites to clinical trial sponsors and ultimately the FDA, faster and more efficiently than manual methods or loosely integrated technologies. The DATATRAK eClinical(TM) software suite can be deployed worldwide through an ASP offering or in a licensed Enterprise Transfer ASP model that fully empowers clients to design, set up and manage their clinical trials independently. The DATATRAK software suite and its earlier versions have successfully supported hundreds of international clinical trials involving thousands of clinical research sites and encompassing tens of thousands of patients in 59 countries. DATATRAK International, Inc.'s product suite has been utilized in some aspect of the clinical development of 16 separate drugs and one medical device that have received regulatory approval from either the United States Food and Drug Administration or counterpart European bodies. DATATRAK International, Inc. has offices located in Cleveland, Ohio and Bryan, Texas. Its common stock is listed on the NASDAQ Stock Market under the ticker symbol "DATA". Visit the DATATRAK International, Inc. web site at http://www.datatrak.net/ .
Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management's expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond the control of the Company. Factors that may cause actual results to differ materially from those in the forward-looking statements include the limited operating history on which the Company's performance can be evaluated; the ability of the Company to continue to enhance its software products to meet customer and market needs; fluctuations in the Company's quarterly results; the viability of the Company's business strategy and its early stage of development; the timing of clinical trial sponsor decisions to conduct new clinical trials or cancel or delay ongoing trials; the Company's dependence on major customers; government regulation associated with clinical trials and the approval of new drugs; the ability of the Company to compete in the emerging EDC market; losses that potentially could be incurred from breaches of contracts or loss of customer data; the inability to protect intellectual property rights or the infringement upon other's intellectual property rights; the Company's success in integrating its acquisition's operations into its own operations and the costs associated with maintaining and/or developing two product suites; and general economic conditions such as the rate of employment, inflation, interest rates and the condition of capital markets. This list of factors is not all-inclusive. In addition, the Company's success depends on the outcome of various strategic initiatives it has undertaken, all of which are based on assumptions made by the Company concerning trends in the clinical research market and the health care industry. The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.
DATATRAK International, Inc.
CONTACT: Jeffrey A. Green, Pharm.D., FCP, President and Chief Executive Officer, +1-440-443-0082 x112, or Raymond J. Merk, Chief Financial Officer, +1-440-443-0082 x181, both of DATATRAK International, Inc.; or Neal Feagans, Investor Relations, Feagans Consulting, Inc., +1-303-449-1184
Web site: http://www.datatrak.net/
SoftBrands to Webcast Third Quarter Fiscal 2008 Conference Call August 6
MINNEAPOLIS, July 30 /PRNewswire-FirstCall/ -- SoftBrands, Inc. , a global supplier of enterprise application software, will hold its quarterly conference call to discuss third quarter results on Wednesday, Aug. 6, 2008, at 5:00 pm Eastern Time (4:00 pm Central Time).
This call is being webcast and can be accessed at SoftBrands' website at http://www.softbrands.com/ . Interested parties may also listen to the call by dialing 866-831-6267 or international 617-213-8857 (passcode: 89825725). The replay number is 888-286-8010 and international 617-801-6888 (passcode: 55377240). The audio replay will be available through Aug. 13, 2008 and a replay of the call will also be available on SoftBrands' website.
About SoftBrands
SoftBrands, Inc. is a leader in providing software solutions for businesses in the manufacturing and hospitality industries worldwide. The company has established a global infrastructure for distribution, development and support of enterprise software, and has approximately 5,000 customers in more than 100 countries actively using its manufacturing and hospitality products. SoftBrands, which has approximately 775 employees, is headquartered in Minneapolis, Minn., with branch offices in Europe, India, Asia, Australia and Africa. Additional information can be found at http://www.softbrands.com/ .
SoftBrands, Inc.
CONTACT: Susan Eich of SoftBrands, Inc., +1-612-851-6205, susan.eich@softbrands.com
Web site: http://www.softbrands.com/
Hollywood Media Corp. Schedules Release of Second Quarter 2008 Results and Teleconference
BOCA RATON, Fla., July 30 /PRNewswire-FirstCall/ -- Hollywood Media Corp. , a leading provider of news, information and ticketing covering the entertainment and media industries, today announced that it will host a teleconference to discuss the Company's second quarter 2008 financial results. The conference call is scheduled for Wednesday, August 6, 2008 at 10:00 a.m. Eastern time. Hollywood Media will release second quarter 2008 financial results Wednesday morning prior to the start of the conference call.
To access the teleconference, please dial 888-562-3654 (U.S.) or 973-582-2703 (international) approximately 10 minutes prior to the start of the call. The reference passcode for the call is 57215840. The teleconference will also be available via live Web cast on the investor relations portion of Hollywood Media's Web site, located at http://www.hollywood.com/corporate_profile/about_us/468707 . http://www.acmecommunications.com/ Following prepared remarks, management will take questions from the audience via phone and e-mail. To ask a question via e-mail, please send your questions to questions@exec.hollywood.com in advance of, or during, the live call.
If you are unable to listen to the live teleconference at its scheduled time, a replay will be available through September 4, 2008 and can be accessed by dialing 800-642-1687 or 706-645-9291 (international), passcode 57215840. An archived version of the Web cast will also be available on the investor relations portion of Hollywood Media's Web site.
About Hollywood Media Corp.
Hollywood Media Corp. is a leading provider of news, information and ticketing covering the entertainment and media industries. Hollywood Media's businesses include: its Broadway Ticketing division including Broadway.com, 1-800-Broadway and Theatre Direct International; and its Ad Sales division including Hollywood.com and the U.K.-based CinemasOnline. Other Hollywood Media businesses include Hollywood.com Television, a free VOD cable TV network, and Hollywood Media's minority interest in MovieTickets.com.
Statements in this press release may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous potential risks and uncertainties, including, but not limited to, the need to manage our growth and integrate new businesses, our ability to realize anticipated revenues, cost efficiencies and sources of capital, the impact of potential future dispositions or other strategic transactions by Hollywood Media, our ability to develop and maintain strategic relationships, our ability to compete with other media, data and internet companies, technology risks, the volatility of our stock price, and other risks and factors described in Hollywood Media Corp.'s filings with the Securities and Exchange Commission including our Form 10-K for 2007. Such forward-looking statements speak only as of the date on which they are made.
Hollywood Media Corp.
CONTACT: L. Melheim, Investor Relations Department, Hollywood Media Corp., +1-561-998-8003, ir@boca.hollywood.com
Web site: http://www.hollywood.com/ http://www.acmecommunications.com/ http://movietickets.com/ http://www.broadway.com/
Company News On-Call: http://www.prnewswire.com/comp/094769.html
First Web 2.0 Summit 'Web Meets World' Auction Benefits CharityLance Armstrong to Participate in Live Auction
SAN FRANCISCO, July 30 /PRNewswire/ -- TechWeb (formerly CMP) and O'Reilly Media, Inc., co-producers of the annual Web 2.0 Summit, announce the Web Meets World Auction at Web 2.0 Summit on the evening of Wednesday, November 5, at the Palace Hotel in San Francisco. The first Summit auction illustrates this year's theme of applying what we've learned from the Web to help solve our world's most pressing limits. Keynote speaker Lance Armstrong, the cancer survivor, seven-time Tour de France winner and founder of the Lance Armstrong Foundation who recently joined with Demand Media to launch LIVESTRONG.COM, will autograph a Trek road bike that will be auctioned off with other priceless items during Web 2.0 Summit's Web Meets World Auction. All proceeds from the auction will benefit charity. Complete information about the Web Meets World Auction can be found here http://en.oreilly.com/web2008/public/content/auction.
"In planning for the Web 2.0 Summit event this year, we have been inspired to look beyond our immediate needs and into a space that transforms limits into opportunities," said John Battelle, Web 2.0 Summit's Program Chair. "With that in mind, we've asked our speakers, including Lance Armstrong and others, to help us host this auction and provide the Summit community at least one concrete way to support change."
The Web 2.0 Summit team will solicit donations, and donation ideas, from individuals and companies within the community and then choose the 10 most promising and unique offerings to auction after the conference dinner. Lance Armstrong, the seven time Tour de France winner and founder of the Lance Armstrong Foundation and LIVESTRONG.COM, will donate an autographed bicycle that he signs on-stage during his interview with John Battelle. All proceeds from the event will benefit three charities, including WITNESS.org, which uses video and online technologies to open the eyes of the world to human rights violations.
Members of the Web community can contribute to the success of the Web Meets World auction by joining the Web 2.0 Summit Facebook community and suggest which charities should benefit from the auction and what you would consider a priceless donation. Individuals or companies who would like to offer auction items should email auction@techweb.com.
Web 2.0 Summit takes place November 5-7, 2008 at the Palace Hotel in San Francisco. The event is produced by partners O'Reilly Media, Inc. and TechWeb and is moderated by John Battelle, Program Chair. Attendance is limited to maintain an intimate setting and foster dialog among participants. General attendee registration is by invitation only; requests for invitations are being accepted through mid-September. Media credentials are also extended by invitation only.
-- For more information on Web 2.0 Summit and to apply for an invitation,
please visit:
http://web2summit.com/
-- To read coverage from Summit 2007, please visit:
http://conferences.oreillynet.com/pub/w/62/news.html
-- To view select video from last year's Summit, please visit:
http://web2summit.blip.tv/
About TechWeb
TechWeb, the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events Interop, Web 2.0, Black Hat and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, Wall Street & Technology magazines. TechWeb also provides end-to-end services ranging from next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.
*13.3 million business decision-makers: based on # of monthly connections
About O'Reilly
O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly has been a chronicler and catalyst of leading-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An active participant in the technology community, the company has a long history of advocacy, meme-making, and evangelism. For more information, visit: http://www.oreilly.com/.
O'Reilly is a registered trademark of O'Reilly Media, Inc. Other products mentioned may be trademarks of their respective companies.
TechWeb
CONTACT: Natalia Wodecki, PR Manager of TechWeb, nwodecki@techweb.com; or Maureen Jennings, Conferences Publicist of O'Reilly Media, Inc., maureen@oreilly.com
Web site: http://web2summit.com/ http://www.oreilly.com/
Atmel Reports Second Quarter 2008 Financial ResultsMicrocontroller Revenues Reach New RecordRise 9% Sequentially and 29% Compared to the Year-Ago Quarter
SAN JOSE, Calif., July 30 /PRNewswire-FirstCall/ -- Atmel(R) Corporation today announced financial results for the quarter ended June 30, 2008.
Revenues for the second quarter of 2008 were $420.9 million, a 2.4% increase compared to $411.2 million for the first quarter of 2008 and a 4.1% increase compared to $404.2 million for the second quarter ended June 30, 2007. Microcontrollers, a core business, continued to deliver solid revenue growth rising 9% sequentially and 29% compared to the year-ago quarter, driven by the Company's proprietary AVR(R), standard ARM(R) and touch sensing products.
Net loss for the second quarter of 2008 totaled $(4.9) million or $(0.01) per diluted share. This compares to net income of $6.8 million or $0.02 per diluted share for the first quarter of 2008 and net income of $0.7 million or $0.00 per diluted share for the year-ago quarter.
Non-GAAP net income for the second quarter of 2008 totaled $17.3 million or $0.04 per diluted share compared to $13.3 million or $0.03 per diluted share for the first quarter of 2008 and $1.3 million or $0.00 per diluted share for the year-ago quarter. Non-GAAP net income excludes charges (credits) related to restructuring activities, acquisitions, grant repayments, and stock-based compensation, as well as the loss (gain) on sale of assets and the income tax effect of these excluded items. A reconciliation of GAAP results to non-GAAP results is included following the financial statements below.
"We are pleased to have reached the upper end of our revenue guidance in spite of the challenging macroeconomic environment," said Steven Laub, Atmel's President and Chief Executive Officer. "In addition to achieving record microcontroller revenues, gross profit continued to increase. The restructuring initiatives and manufacturing disciplines we've implemented are enabling Atmel to drive technological leadership with innovative and cost- effective products that offer the best opportunity for profitable growth."
Gross profit, as a percent of revenue, was 36.5% for the second quarter of 2008. This compares to gross profit of 35.5% for the first quarter of 2008 and 35.0% for the year-ago quarter. Gross profit for the second quarter of 2008 was influenced by a favorable mix of higher margin core products as well as improved wafer fab utilization following the closure of the North Tyneside, United Kingdom manufacturing facility.
Operating profit was $0.2 million for the second quarter of 2008, or 0.1% of revenue, which includes charges of $16.5 million primarily related to restructuring and charges resulting from the Quantum Research Group acquisition completed in March of this year. This compares to an operating profit of $15.4 million for the first quarter of 2008 and $7.1 million for the second quarter of 2007. Included in the prior period operating results were net charges of $0.7 million for the first quarter related to the North Tyneside restructuring and Quantum Research acquisition and a benefit of $2.6 million for the second quarter of 2007 for restructuring related adjustments. Stock-based compensation expense was $6.4 million for the second quarter of 2008, compared to $6.3 million for the first quarter of 2008 and $3.3 million for the year-ago quarter.
Income tax provision was $4.3 million for the second quarter of 2008. This compares to an income tax provision of $3.2 million for the first quarter of 2008 and $7.1 million for the second quarter of 2007.
Combined cash balances (cash and cash equivalents plus short-term investments) totaled $375.8 million at the end of the second quarter of 2008, an increase of $39.0 million from the end of the prior quarter and a $54.2 million decrease from $429.9 million at December 31, 2007. Cash provided from operations totaled approximately $50.0 million for the second quarter of 2008 compared to cash used in operations of $40.2 million for the first quarter of 2008 and $1.5 million for the second quarter of 2007. In the first quarter of 2008, cash used in operations included approximately $54.0 million of cash used for repayment of grants and for restructuring charges that required cash payments related to the closure of North Tyneside. Also, in the first quarter of 2008, the Company received approximately $82.0 million of proceeds from the sale of North Tyneside fabrication equipment, which was classified as proceeds from investing activities.
The Company's effective average exchange rate in the second quarter of 2008 was approximately $1.56 to the euro, compared to $1.47 to the euro in the first quarter of 2008 and $1.35 to the euro in the year-ago period. A $0.01 increase in the dollar/euro exchange rate reduced operating income by approximately $0.5 million during the second quarter of 2008, which was an improvement over the $1.0 million impact to operating income at the end of 2007 as a result of the dollar/euro exchange rate.
Second Quarter 2008 and Recent Highlights
-- Achieved Highest Level of Gross Profit Since the First Quarter of 2001
-- Appointed Stephen Cumming as Vice President Finance and Chief Financial
Officer
-- Introduced a Touch Controller for Slider and Buttons with Integrated
LED Control and GPIO Functions
-- Introduced a Family of AVR Microcontrollers for Automotive LIN
Networking Applications
-- Introduced picoPower tinyAVR Microcontrollers for Battery-based and
Cost-sensitive Applications
-- Won Reader's Choice Award in Indian Electronics Magazine for AVR
Microcontrollers
-- Introduced 800/900 MHz IEEE 802.15.4 Compliant Transceiver for Zigbee
-- Won the Electron d'Or Award for CAP Customizable Microcontroller
Business Outlook
To better manage distribution resources, on July 1, 2008 Atmel implemented a change in revenue recognition with regards to its independent distributors in Europe converting from a sell-in to a sell-through revenue model. As a result, the Company expects that there will be a one time revenue reduction of approximately $28 million to $34 million to third quarter revenues. Including this one time accounting adjustment, third quarter 2008 revenues are expected to be down 3% to 7% sequentially. Exclusive of this change and consistent with business seasonality and macro economic trends, the Company anticipates third quarter 2008 revenues would be up 1% to 4% on a sequential basis.
Atmel is continuing to evaluate ways to safeguard its ability to compete in the market. In this context, the French management is commencing a consultation procedure with the works councils in France in relation to potential redundancies in the operations in Rousset and Nantes, France. Atmel is also continually reviewing potential changes in its business and asset portfolio throughout its worldwide operations, including those located in Europe in order to enhance its overall competitiveness and viability.
Conference Call
Atmel will hold a teleconference at 2:00 p.m. PT today to discuss the second quarter 2008 financial results. The conference call will be webcast live and can also be monitored by dialing 1-800-374-0405 or 1-706-634-5185. The conference ID number is 55624651 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 2:00 p.m. PT start time to ensure a timely connection. The webcast can be accessed at http://www.atmel.com/ir/ and will be archived for 12 months.
A replay of the July 30, 2008 conference call will be available today at approximately 5:00 p.m. PT and will run for 48 hours. The replay access numbers are 1-800-642-1687 within the U.S. and 1-706-645-9291 for all other locations. The access code is 55624651.
About Atmel
Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel provides the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.
Safe Harbor for Forward-Looking Statements
Information in this release regarding Atmel's forecasts, outlook, expectations and beliefs are forward-looking statements that involve risks and uncertainties. These statements include statements about new product introductions, markets for our products, restructuring initiatives, manufacturing disciplines, strategies and third quarter business outlook. All forward-looking statements included in this release are based upon information available to Atmel as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or Company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, the inability to realize the anticipated benefits of our recent strategic transactions, restructuring plans and other initiatives in a timely manner or at all, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, the market price of our common stock and other risks detailed from time to time in Atmel's SEC reports and filings, including our Form 10-K for the year ended December 31, 2007, filed on February 29, 2008, and our subsequent Form 10-Q reports.
Investor Contact: Media Contact:
Robert Pursel Barrett Golden / Sharon Stern
Director of Investor Relations Joele Frank, Wilkinson Brimmer Katcher
408-487-2677 212-355-4449
Atmel Corporation
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
June 30, March 31, December 31,
2008 2008 2007
Current assets
Cash and cash equivalents $354,003 $308,365 $374,130
Short-term investments 21,786 28,455 55,817
Accounts receivable, net 220,956 223,615 209,189
Inventories 336,415 348,603 357,301
Assets held for sale - 47,414 -
Prepaids and other current assets 94,215 99,665 88,781
Total current assets 1,027,375 1,056,117 1,085,218
Fixed assets, net 471,569 499,717 579,566
Goodwill and intangible assets, net 109,395 112,623 19,552
Other assets 42,118 45,150 18,417
Total assets $1,650,457 $1,713,607 $1,702,753
Current liabilities
Current portion of long-term debt $133,654 $135,558 $142,471
Trade accounts payable 127,596 113,335 191,856
Accrued and other liabilities 227,225 291,885 266,987
Deferred income on shipments to
distributors 19,541 21,334 19,708
Total current liabilities 508,016 562,112 621,022
Long-term debt less current portion 18,641 20,251 20,408
Other long-term liabilities 245,738 253,809 237,844
Total liabilities 772,395 836,172 879,274
Stockholders' equity 878,062 877,435 823,479
Total liabilities and stockholders'
equity $1,650,457 $1,713,607 $1,702,753
Atmel Corporation
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2008 2008 2007 2008 2007
Net revenues $420,908 $411,237 $404,247 $832,145 $795,560
Operating expenses
Cost of revenues 267,382 265,183 262,605 532,565 513,981
Research and development 68,218 66,377 69,266 134,595 136,565
Selling, general and
administrative 68,573 63,562 67,881 132,135 125,940
Acquisition-related
charges 6,709 3,711 - 10,420 -
Charges for (credit
from) grant repayments 292 (119) - 173 -
Restructuring charges
(credits) 8,676 27,908 (2,640) 36,584 (858)
Loss (gain) on sale of
assets 810 (30,758) - (29,948) -
Total operating expenses 420,660 395,864 397,112 816,524 775,628
Income from operations 248 15,373 7,135 15,621 19,932
Interest and other
(expense) income, net (859) (5,387) 610 (6,246) 1,589
(Loss) income from
continuing operations
before income taxes (611) 9,986 7,745 9,375 21,521
Provision for income
taxes (4,296) (3,198) (7,067) (7,494) 8,097
Net (loss) income $(4,907) $6,788 $678 $1,881 $29,618
Basic net (loss) income
per share:
Net (loss) income $(0.01) $0.02 $0.00 $0.00 $0.06
Weighted-average shares
used in basic net
(loss) income per share
calculations 445,793 444,670 488,916 445,225 488,879
Diluted net (loss)
income per share:
Net (loss) income $(0.01) $0.02 $0.00 $0.00 $0.06
Weighted-average shares
used in diluted net
(loss) income per share
calculations 445,793 447,643 494,244 450,337 494,285
Atmel Corporation
Reconciliation of GAAP Net (Loss) Income to Non-GAAP Net Income
(In thousands, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
June 30, March 31, June 30, June 30, June 30,
2008 2008 2007 2008 2007
GAAP net (loss) income $(4,907) $6,788 $678 $1,881 $29,618
Special items:
Stock-based
compensation expense 6,353 6,307 3,310 12,660 6,620
Acquisition-related charges 6,709 3,711 - 10,420 -
Charges for (credit from)
grant repayments 292 (119) - 173 -
Restructuring charges
(credits) 8,676 27,908 (2,640) 36,584 (858)
Loss (gain) on sale
of assets 810 (30,758) - (29,948) -
Income tax effect of
non-GAAP items (658) (500) - (1,158) (300)
Total special items 22,182 6,549 670 28,731 5,462
Non-GAAP net income $17,275 $13,337 $1,348 $30,612 $35,080
Diluted non-GAAP net
income per share:
Net income $0.04 $0.03 $0.00 $0.07 $0.07
Notes to Non-GAAP Financial Measures
To supplement its consolidated financial results presented in accordance with GAAP, Atmel uses non-GAAP financial measures, including non-GAAP net income and non-GAAP net income per diluted share, which are adjusted from the most directly comparable GAAP financial measures to exclude certain items, as shown above and described below. Management believes that these non-GAAP financial measures reflect an additional and useful way of viewing aspects of Atmel's operations that, when viewed in conjunction with Atmel's GAAP results, provide a more comprehensive understanding of the various factors and trends affecting Atmel's business and operations.
Atmel uses each of these non-GAAP financial measures for internal purposes and believes that these non-GAAP measures provide meaningful supplemental information regarding operational and financial performance. Management uses these non-GAAP measures for strategic and business decision making, internal budgeting, forecasting and resource allocation processes.
Atmel believes that providing these non-GAAP financial measures, in addition to the GAAP financial results, is useful to investors because the non-GAAP financial measures allow investors to see Atmel's results "through the eyes" of management as these non-GAAP financial measures reflect Atmel's internal measurement processes. Management believes that these non-GAAP financial measures enable investors to better assess changes in each key element of Atmel's operating results across different reporting periods on a consistent basis. Thus, management believes that each of these non-GAAP financial measures provides investors with another method for assessing Atmel's operating results in a manner that is focused on the performance of its ongoing operations. In addition, these non-GAAP financial measures facilitate comparisons to Atmel's historical operating results and to competitors' operating results.
There are limitations in using non-GAAP financial measures because they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. In addition, non-GAAP financial measures may be limited in value because they exclude certain items that may have a material impact upon Atmel's reported financial results. Management compensates for these limitations by providing investors with reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP financial measures. The non-GAAP financial measures supplement, and should be viewed in conjunction with, GAAP financial measures. Investors should review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in above.
As presented in the "Reconciliation of GAAP Net (Loss) Income to Non-GAAP Net Income" tables above, each of the non-GAAP financial measures excludes one or more of the following items:
-- Stock-based compensation expense.
Stock-based compensation expense relates primarily to equity awards such as stock options and restricted stock units. Stock-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Atmel's control. As a result, management excludes this item from Atmel's internal operating forecasts and models. Management believes that non-GAAP measures adjusted for stock-based compensation provide investors with a basis to measure Atmel's core performance against the performance of other companies without the variability created by stock-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used.
-- Acquisition-related charges.
Acquisition-related charges include: (1) in-process research and development, which relates to projects in process as of the acquisition date that have not reached technological feasibility and are immediately expensed, (2) amortization of intangibles, which include acquired intangibles such as customer relationships, backlog, core developed technology, trade name and non-compete agreement, and (3) contingent compensation expense, which include compensation resulting from the employment retention of certain key employees established in accordance with the terms of the acquisitions. In most cases, these acquisition-related charges are not factored into management's evaluation of potential acquisitions or Atmel's performance after completion of acquisitions, because they are not related to Atmel's core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related charges from non-GAAP measures provides investors with a basis to compare Atmel against the performance of other companies without the variability caused by purchase accounting.
-- Charges for (credit from) grant repayments.
Grant repayments primarily relate to contractual obligations to repay incentive amounts received from various government entities recorded in prior periods (including interest) as a result of restructuring activity. Atmel excludes these amounts from non-GAAP financial measures primarily because these costs are not incurred on an on-going basis, consistent with restructuring charges and other non-recurring types of charges included in the condensed consolidated statements of operations.
-- Restructuring charges (credits).
Restructuring charges (credits) primarily relate to expenses necessary to make infrastructure-related changes to Atmel's operating costs. Restructuring charges (credits) are excluded from non-GAAP financial measures because they are not considered core operating activities and such costs have not historically occurred in each year. Although Atmel has engaged in various restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. Management believes that it is appropriate to exclude restructuring charges (credits) from Atmel's non-GAAP financial measures, as it enhances the ability of investors to compare Atmel's period-over-period operating results from continuing operations.
-- Loss (gain) on sale of assets.
Atmel recognizes losses (gains) resulting from the sale of certain non- strategic business assets that no longer align with Atmel's long-term operating plan. Atmel excludes these items from its non-GAAP financial measures primarily because these losses (gains) are one-time in nature and generally not reflective of the ongoing operating performance of Atmel's business and can distort the period-over-period comparison.
-- Income tax effect of non-GAAP items.
Atmel adjusts for the income tax effect resulting from the non-GAAP adjustments as described above.
Atmel Corporation
CONTACT: Investors, Robert Pursel, Director of Investor Relations of Atmel Corporation, +1-408-487-2677; or Media, Barrett Golden or Sharon Stern, both of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, for Atmel Corporation
Web site: http://www.atmel.com/
Tavant Technologies Collaborates With Electronic Arts for the Launch of TheSimsCarnival.com - A New Games Destination WebsiteDifferentiated web technology capabilities and an onshore-offshore agile development approach allows Electronic Arts to rapidly launch revolutionary online gaming experience
SANTA CLARA, Calif., July 30 /PRNewswire-FirstCall/ -- Tavant Technologies, a leading provider of specialized IT solutions and services, today announced successful launch of The Sims Carnival(TM), a new creative endeavor in online casual gaming by the The Sims(TM) Label at Electronic Arts Inc. . Electronic Arts retained Tavant Technologies to provide offshore enabled services for TheSimsCarnival.com in an agile, onshore-offshore development approach.
TheSimsCarnival.com is a new online community and gaming experience from The Sims that makes game creation and sharing more accessible and fun than ever before. The introduction of this new creative endeavor from The Sims is designed to convert millions of players into game designers, with no programming skills required!
"TheSimsCarnival.com project allowed Tavant to showcase two of its core differentiating capabilities: use of web technology in complex application environments and rapid, agile solution development with an onshore-offshore approach," said Sarvesh Mahesh, CEO of Tavant Technologies. "We are very proud to have supported Electronic Arts in bringing a new online gaming experience to market in a short time frame while leveraging offshore development expertise."
Tavant's core expertise is in web-technologies and the development of web-technology based e-Business applications. This includes user experience design leveraging latest Web 2.0 technologies and the use of emerging open source web technologies. Having used this expertise across many industries and eBusiness contexts, Electronic Arts has now extended these core capabilities successfully to the gaming industry.
"Our team developed the web portal and helped Electronic Arts design the overall solution," said Manish Arya, CTO at Tavant Technologies. "Our expertise in system integration and open source web technologies allowed us to rapidly develop and deploy a robust and scalable solution for the highly demanding and complex online gaming environment."
About Tavant Technologies:
Tavant Technologies, headquartered in Santa Clara, California and a SEI-CMMI Level 4, ISO 27001 & SAS-70 compliant organization, is a specialized IT solutions and services provider. Since its inception in 2000, Tavant focuses on the development and maintenance of portals, applications and solutions for customers in the eBusiness, Consumer Lending and Manufacturing verticals. Tavant differentiates itself through its ability to reliably apply technology to the most complex and highest performing application environments, in-depth industry domain expertise and a superior outsourcing experience. Founded in 2000, Tavant has quickly grown to a company of over 750 professionals delivering highest customer and employee satisfaction. For further information please visit http://www.tavant.com/.
About The Sims
The Sims franchise celebrates an impressive over 100 million units sold since its launch in February 2000. Now translated into 22 different languages in 60 different countries, The Sims has quickly become a universal gaming and cultural phenomenon. For the latest information about The Sims and to check out the hottest creations for The Sims 2 made by our community members, please visit http://www.thesims2.com/. To stay up-to-date on The Sims 3 news and information, check out http://www.thesims3.com/.
About Electronic Arts
Electronic Arts Inc. (EA), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, the Company develops, publishes, and distributes interactive software worldwide for video game systems, personal computers, cellular handsets and the Internet. Electronic Arts markets its products under four brand names: EA SPORTS(TM), EA(TM), EA SPORTS Freestyle(TM) and POGO(TM). In fiscal 2008, EA posted GAAP net revenue of $3.67 billion and had 27 titles that sold more than one million copies. EA's homepage and online game site is http://www.ea.com/. More information about EA's products and full text of press releases can be found on the Internet at http://info.ea.com/.
EA, EA SPORTS, EA SPORTS Freestyle, POGO, The Sims, SimCity, The Sims Carnival, SimCity 2000 and SimCity 3000 are trademarks or registered trademarks of Electronic Arts Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners.
Tavant Technologies
CONTACT: Vibhor Mishra of Tavant Technologies, +1-408-519-5400, Ext. 5385, vibhor.mishra@tavant.com
Web site: http://www.tavant.com/lending http://www.thesimscarnival.com/
Bank of America and the National Center for Women & Information Technology Honor 28 High School Women for Aspirations in Technology
CHARLOTTE, N.C. and BOULDER, Colo., July 30 /PRNewswire/ -- As part of an effort to encourage more young women to choose careers in technology, Bank of America and the National Center for Women & Information Technology (NCWIT) will be honoring 28 high school women for their accomplishments and aspirations in computing and technology.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )
The young women from across the United States will be honored at the 2008 Stars of the Future Technology Showcase and Awards Ceremony in Charlotte, N.C., on August 2 with the prestigious NCWIT Award for Aspirations in Computing, which recognizes young high school women for their computing- related achievements and interests.
"Encouraging young women's interest in technology careers is critical: our workforce needs their creativity and their innovation," said Lucy Sanders, CEO and Co-founder of NCWIT. "Bank of America's sponsorship for this award helps us recognize and encourage talent that might otherwise be overlooked."
The award-winners are being acknowledged for their outstanding aptitude and interest in information technology and computing, solid leadership ability, good academic history and plans for post-secondary education. Winners were selected from metro-area Atlanta, Boston, Charlotte, Chicago, Dallas and New York City high schools.
"Technology innovation differentiates Bank of America", said Chief Technology Officer Marc Gordon. "We believe these young women may one day develop innovative products and services such as mobile banking and Keep the Change. This partnership with NCWIT is one way we can develop and tap into this critical talent pipeline".
The NCWIT Award was created to acknowledge the computing aspirations of young women, introduce them to leadership opportunities in the field and generate visibility for women's participation in computing-related pursuits.
"Bank of America is pleased to partner with NCWIT to help more young women pursue technology-related careers," said Mary Ellen Baker, senior vice- president and Consumer and Small Business Bank Technology and Operations executive at Bank of America. "These skills are in demand across the world, so it's imperative we invest in our students and give them the resources and opportunities they need to compete and thrive in the global economy."
The winners are:
Natalia Alvarez: The Lawrenceville School, Lawrenceville, New Jersey
Wendy Cheang: Trinity School, New York, New York
Paulina Karpis: Stuyvesant High School, New York, New York
Diana Liskovich: Stuyvesant High School, New York, New York
Connie Liu: Stuyvesant High School, New York, New York
Katherine Argueta: School of Business & Management, Dallas, Texas
Lillybeth Garza: The Academy of Irving ISD, Irving, Texas
Elizabeth Lass: School for the Talented and Gifted, Dallas, Texas
Gracie Saunders: TAG Magnet at Yvonne A. Ewell Townview Center, Dallas,
Texas
Lauren Yew: Prosper High School, Prosper, Texas
Meredith Derr: Barrington High School, Barrington, Illinois
Dessirree Gray: Simeon Career Academy, Chicago, Illinois
Aimee Lucido: University of Chicago Laboratory High School, Chicago,
Illinois
Elisabeth Morant: University of Chicago Laboratory High School, Chicago,
Illinois
Kathryn Vanderwater: Plainfield North High School, Plainfield, Illinois
Khalia Braswell: Phillip O. Berry Academy of Technology, Charlotte, North
Carolina
Jennifer Dudeck: METS at Olympic High School, Charlotte, North Carolina
Chasity Holt : Zebulon B. Vance High School, Charlotte, North Carolina
Monique Jones: Garinger High School, Charlotte, North Carolina
Ranika Kejriwal: Cannon School, Concord, North Carolina
Connie Chan: Boston Latin Academy, Dorchester, Massachusetts
Symaj Davis: Cambridge Rindge and Latin School, Cambridge, Massachusetts
Noelle Devoe: Haverhill High School, Haverhill, Massachusetts
Courtney Edwards: Brookwood High School, Snellville, Georgia
Brittany Freeman: Creekside High School, Fairburn, Georgia
Nina Henry: Creekside High School, Fairburn, Georgia
Laura Stahley: Morrow High School, Morrow, Georgia
Nichole Wiggins: Frederick Douglass High School, Atlanta, Georgia
Each award winner will receive:
-- $500 in cash
-- A laptop computer to enhance their future in technology
-- An engraved award for both the student and the student's school
-- Inclusion in a video highlighting her accomplishments in computing, her
future aspirations and her participation in the awards ceremony
-- The opportunity to apply for a three-year internship with Bank of
America beginning the summer following her freshman year of college
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
National Center for Women & Information Technology
The National Center for Women & Information Technology (NCWIT) is a coalition of over 120 prominent corporations, academic institutions, government agencies, and non-profits working to increase women's participation in information technology (IT). Member organizations include Apple, Avaya, Bank of America, Catalyst, Cisco, Girl Scouts of the USA, Girls Inc., Georgia Tech, Google, Harvard, HP, Intel, IBM, Kauffman Foundation, Lehman Brothers, MIT, Microsoft, Motorola, National Science Foundation, University of Texas at El Paso, University of Illinois UC, Pfizer, Princeton, Qualcomm, Sally Ride Science, Spelman, Stanford, Sun, University of Colorado, UC Berkeley, UC Irvine, University of Washington, Wal-Mart, and many more. To find out more visit http://www.ncwit.org/
Photo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Bank of America
CONTACT: Kelly Sapp of Bank of America, +1-980-386-9514, Kelly.e.sapp@bankofamerica.com; or Jenny Slade of NCWIT, +1-303-735-6600, jslade@ncwit.org
Web site: http://www.bankofamerica.com/ http://www.ncwit.org/
Cyberlux Expands Military and Government Sales Capability with New Channel PartnershipCyberlux Enlists A and A Logistics to Accelerate Critical Military and Government Agency Sales including the Special Operations Command and FEMA
RESEARCH TRIANGLE PARK, N.C., July 30 /PRNewswire-FirstCall/ -- Cyberlux Corporation, (BULLETIN BOARD: CYBL) , a leading provider of LED lighting solutions, announced today that it has entered into a business development, sales and product solutions relationship with A and A Logistics, Inc. For over 17 Years, the founders of A and A Logistics, Inc. have delivered solutions on demand to the U.S. military, U.S. government agencies such as the Federal Emergency Management Agency (FEMA) and the U.S. Postal Service (USPS), state and local municipal government agencies, and foreign military organizations.
In addition to the consultative relationship A and A Logistics has with the U.S. Special Operations Command (USSOCOM), the Company has recently been appointed to the Task Force on the Reconstruction of Afghanistan. Selected for the diversity of experience and the expertise of the A and A Logistics management team, the Company will focus on business development in Afghanistan and on accelerating the development of essential businesses and services for the mutual benefit of the people and government of Afghanistan and the private sector.
In representing Cyberlux Corporation in business development and sales efforts A and A Logistics will assist customers such as USSOCOM and FEMA with requirements, concept and solution development, along with product delivery services including logistics support. With a focus on technology solutions that provide critical life-sustaining support for the Warfighter and the Emergency Responder, A and A Logistics currently provides customers with portable lighting products and generators, solar powered electrical systems, self-powered IED detection products, and water purification systems.
"I am excited that our company has been chosen to represent Cyberlux. A and A Logistics has an in-depth understanding of the field requirements that the USSOCOM, FEMA and USPS organizations must have in order to properly execute their missions, and the WatchDog and BrightEye suite of products will fulfill those covert and visible portable lighting needs," said Robert "Ed" Atchley, Vice President/Marketing and Co-Founder of A and A Logistics. "Having done our due diligence on Cyberlux, we strongly feel that with our assistance and with the established sales relationships we have with USSOCOM, FEMA, USPS and the federal, state and local emergency response organizations, we will be extremely successful in placing a large number of these systems," added Atchley.
"We are pleased to have the A and A Logistics team engaged in the business development and sales growth of Cyberlux Corporation. Ed Atchley has the knowledge, experience and relationships required to successfully partner with complex customers such as USSOCOM and FEMA. Most importantly, A and A Logistics has a demonstrated track record on delivering solutions that meet customer requirements and solve complex problems," said Mark Schmidt, president and chief executive officer for Cyberlux. "Our technology know-how and our WatchDog and BrightEye tactical lighting systems, in conjunction with the expertise of A and A Logistics, will significantly contribute to our military and government sales growth and extend our revenue beyond the $8.0 million 2008 DOD budget level going forward."
The Cyberlux Portable Illumination Systems are designed as visible and night-vision compatible illumination systems for mission-critical tactical lighting that requires rapidly deployable, high-intensity lighting capability. Using advanced optics, advanced solid-state lighting technology, and light-weight advanced battery power, all contained in easily transportable wheeled cases, the WatchDog and BrightEye tactical lighting systems provide broad area visible white lighting and night-vision compatible IR lighting capable of operating all night on an advanced battery power system, capabilities not available in traditional lighting systems.
The 2008 Department of Defense Appropriations legislation established a National Program of $8.0 million for the equipping of the United States Air Force (USAF) with Cyberlux Portable Illumination Systems during Fiscal Year 2008 ending September 30th. The USAF has identified over $8 million in requirements and is actively procuring WatchDog and BrightEye products to meet these requirements with the National Program funding.
About Cyberlux Corporation
Cyberlux Corporation (BULLETIN BOARD: CYBL) , a leader in solid-state lighting innovation, has developed breakthrough LED lighting technology that provides the most energy efficient and cost effective portable lighting solutions available today for military and commercial uses. The Military and Homeland Security products provide tactical covert and visible lighting capability and are designed as highly mobile, battery-powered lighting systems ideal for threat detection, force and asset protection and general expeditionary lighting needs. For more information, please visit http://www.cyberlux.com/ .
This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors, including, but not limited to, the Company's ability to expand its production capabilities concurrent with product orders. The Company's business is subject to significant risks and uncertainties discussed more thoroughly in Cyberlux Corporation's SEC filings, including but not limited to, its report on Form 10-KSB for the year ended December 31, 2007 and its 10-Q for the quarter ended March 31, 2008. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Contact:
Richard Brown, rbrown@cyberlux.com / 617-314-7379
Cyberlux Corporation
CONTACT: Richard Brown of Cyberlux, +1-617-314-7379, rbrown@cyberlux.com
Web site: http://www.cyberlux.com/
PECO II to Broadcast Its Second-Quarter 2008 Conference Call on the Web
GALION, Ohio, July 30 /PRNewswire-FirstCall/ -- PECO II, Inc. will broadcast its second-quarter 2008 earnings conference call live over the Internet on Wednesday, August 13, 2008 at 10 a.m. Eastern time with Chairman, President, Chief Executive Officer, Chief Financial Officer and Treasurer, John G. Heindel.
This call is being webcast by CCBN and can be accessed through the Company's Web site, http://www.peco2.com/ . The webcast is also being distributed over CCBN's Investor Distribution Network. Individual investors can listen to the call through CCBN's individual investor center at http://www.fulldisclosure.com/ or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (http://www.streetevents.com/).
If you are unable to listen to the live webcast, a replay will be archived on the Web site http://www.peco2.com/ . You may also listen to a taped replay of the conference call by dialing 1-617-801-6888, and referencing passcode #37171781, beginning at 1 p.m. Eastern time, Wednesday, August 13, 2008 until 11:59 p.m. Eastern time, Wednesday, August 20, 2008.
PECO II, headquartered in Galion, Ohio, provides engineering and on-site installation services and designs, manufactures and markets communications power systems and power distribution equipment. As the largest independent full-service provider of telecommunications power systems, the Company provides total power quality/reliability solutions and supports power infrastructure needs of communications service providers in the local exchange, long-distance, wireless, broadband and Internet markets. Additional information about PECO II can be found at http://www.peco2.com/ .
Contact:
John G. Heindel
Chairman, President, Chief Executive Officer,
Chief Financial Officer and Treasurer
Tel: 419-468-7600
PECO II, Inc.
CONTACT: John G. Heindel, Chairman, President, Chief Executive Officer, Chief Financial Officer and Treasurer, PECO II, Inc., +1-419-468-7600
Web site: http://www.peco2.com/ http://www.streetevents.com/
Verizon's Industry-Leading FiOS Services Now Available to More Than 700,000 Consumers, Businesses in MarylandTransformational All-Fiber-Optic Network Brings Innovative Services, Improved Reliability
BALTIMORE, July 30 /PRNewswire/ -- More than 700,000 homes and businesses in five Maryland counties now can choose unmatched broadband speeds and some much-desired competition for their pay-TV services, via Verizon's transformational, reliable all-fiber-optic network.
Verizon currently offers FiOS Internet and FiOS TV services to dozens of communities in Anne Arundel, Baltimore, Howard, Montgomery and Prince George's counties, and the company continues to upgrade its network to all fiber in these areas. (NOTE: See end of release for a list of communities where FiOS services are currently available.)
In addition, Verizon currently is placing its all-fiber network in Charles and Harford counties, and the company is negotiating cable franchises with these two counties that would authorize it to offer FiOS TV to residents.
"We started our fiber network deployment project in 2004 with a promise to provide next-generation technology and superior competitive choice to Maryland consumers," said William R. Roberts, Verizon's regional president for Maryland and Washington, D.C. "Our FiOS Internet and FiOS TV services have been an extraordinary hit across the country, and more Marylanders are joining the FiOS family each day.
"Verizon is winning customers by providing the best, most reliable network available at a competitive price for voice, data and video services -- all backed by the best employees in the business and a name consumers can trust," said Roberts.
Companies that install all-fiber networks gain other advantages in addition to new and superior services for customers. For example, fiber offers reliable service in stretches of wet weather that can affect copper-based networks.
"This new network will have greater reliability and lower maintenance costs," Roberts added.
Marylanders who are FiOS TV-eligible can trim their monthly bills by bundling FiOS TV service, FiOS Internet service and the Verizon Freedom Essentials unlimited calling plan, all for $104.99 a month with a one-year commitment. These consumers also can add a Verizon Wireless calling plan for a grand slam of communications and entertainment services.
Small and medium-sized businesses now can also combine unparalleled broadband FiOS Internet speeds with FiOS TV and Verizon's always-reliable voice service.
FiOS TV Service Highlights
FiOS TV service highlights include:
-- More than 400 all-digital channels grouped by genres such as entertainment, sports, news, shopping, movies and family, making it easy for audiences to find their favorite programming.
-- Approximately 30 high-definition (HD) channels in Maryland, with extraordinary clarity and theater-quality sound. The company will add approximately 25 more HD channels in the near future, and plans to expand its lineup to offer all available major HD programming by year-end.
-- An industry-leading library of more than 10,000 video-on-demand (VOD) titles each month, 70 percent of which are free. In addition, an increasing number of on-demand titles in high definition, with 1,000 HD VOD titles per month by the end of the year.
-- An easy-to-use interactive media guide that integrates HD programming, on-demand content and the digital video recorder along with broadcast television into a seamless user experience.
-- Set-top boxes ranging from a standard-definition box for $5.99 per month to the Home Media DVR, featuring a multi-room DVR that enables up to three simultaneous viewings of recorded programs without requiring customers to set up a complex home network or buy extra equipment. The recorder is bundled with Media Manager, a new feature that lets customers easily access photos and music from their personal computer and play them on their entertainment center where they look and sound the best. A standard definition Home Media DVR is $17.99 per month.
-- FiOS TV Widgets, a free interactive feature that provides local weather and traffic information.
Programming choices for Hispanic, African-American, Asian, Russian and other multicultural audiences are available in every market, making FiOS TV an outlet for emerging and independent networks to showcase their diverse programming.
Sports fans subscribing to FiOS TV Premier in Maryland also will receive a host of sports channels -- including Mid-Atlantic Sports Network, several ESPN channels and the NFL Network -- at no extra charge.
FiOS TV is delivered over Verizon's all-fiber-optic network, which brings the power and capacity of fiber optics directly into people's homes and has industry-leading quality and reliability. To date, Verizon has placed more than 57 million feet of fiber in its Maryland service territory.
Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. Fiber also delivers Internet download speeds of up to 50 Mbps* (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice services.
FiOS Internet Highlights
Verizon's 50/20 FiOS Internet connection is the fastest available to U.S. consumers, and the company's 20/20 symmetrical service is the first of its kind commercially available to U.S. consumers on a mass scale. Pioneering a new category of broadband for the American consumer, Verizon's symmetrical FiOS service provides the ultra-fast, two-way speeds crucial for such burgeoning online activities as video conferencing, social networking and super-fast uploading of electronic photo albums or home videos, as well as multi-player gaming and online work collaboration.
At 50 Mbps, downloading a 5 GB (gigabyte) file, such as 112-minute, high-definition movie purchased online, takes approximately 13.3 minutes, while a 50 MB (megabyte) or 60-minute Web video takes 8 seconds, and a 5 MB MP3 music file takes less than eight-tenths of a second.
Using a 20 Mbps upstream broadband connection, a consumer could upload a 250 megabyte (MB) file of 200 photos in about 90 seconds, instead of the roughly 47 minutes it takes over a 768 kilobit-per-second (Kbps) upstream connection. A 500 MB file, such as 400 digital photos or a medical imaging data file, could upload in less than four minutes, compared with about 90 minutes over a 768 Kbps connection. A 3 gigabyte (GB) file, such as a one-hour family video shot with a high-definition video camera, can be uploaded in around 20 minutes, compared with more than nine hours with 768 Kbps upstream.
FiOS Internet 50/20 Mbps service is available for $139.95 a month with an annual service plan. The 20/20 Mbps FiOS Internet service is available for $64.99 a month with an annual service plan FiOS Internet service is also available as part of a discounted bundle of multiple Verizon services.
Consumers can check online at http://www.verizon.com/fios for more information or to request that Verizon contact them when FiOS services become available in their neighborhoods. Customers also can call their local Verizon sales office or 888-GET FiOS (888-438-3467).
In addition to Maryland, Verizon currently provides FiOS TV in parts of California, Delaware, Florida, Indiana, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Texas and Virginia.
At the end of the second quarter 2008, nearly 2 million Verizon customers received their broadband service over Verizon's all-fiber network, and nearly 1.4 million customers had subscribed to FiOS TV.
* NOTE: actual (throughput) speeds will vary based on factors including computer configuration and network/Internet congestion.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
FiOS TV and Internet services are currently available in parts of the
following Maryland communities:
Anne Arundel County
Annapolis
Armiger
Crofton
Dorrs Corner
Glen Burnie
Mayo
Odenton
Parole
Piney Orchard
Severna Park
St. Margaret's
Baltimore County
Catonsville
Cockeysville
Owings Mills
Parkville
Pikesville
Towson
Reisterstown
Randallstown
Howard County
Clarksville
Columbia
Elkridge
Ellicott City
Owen Brown
Snowden River
Montgomery County
Bethesda
Bradley
Colesville
Damascus
Germantown
Montrose
Northwood
Oakdale
Silver Spring
Wheaton
Wildwood
Wood Acres
Prince George's County
Allentown
Beltsville
Berwyn
Bowie
Brandywine
Central Avenue
Chapel Hill
Church Road
Clinton
Hyattsville
Landover
Lanham
Laurel
Marlboro
Oxon Hill
Suitland
Temple Hills
Verizon
CONTACT: Sandra Arnette of Verizon, +1-410-393-7109, sandra.u.arnette@verizon.com
Web Site: http://www.verizon.com/ http://www.verizon.com/fios http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Clarke Havener Joins Korn/Ferry International to Lead Global Aerospace & Defense Sector
WASHINGTON, July 30 /PRNewswire-FirstCall/ -- Korn/Ferry International , a premier global provider of talent management solutions, today announced that Clarke Havener has joined the firm's Washington, D.C. office as a Senior Client Partner and Global Leader of the Aerospace & Defense Sector.
Thomas Colella, who has held the role since 2004, will continue client work in the aerospace and defense sector as a Senior Client Partner in the Washington, D.C. office, focusing his attention on client engagements and the market.
Mr. Havener joins Korn/Ferry from Russell Reynolds Associates, where he was leader of the firm's Airlines, Aerospace and Defense Practice in the Americas. He has more than two decades of experience in executive search and formed the firm's Airlines, Aerospace and Defense Practice when he joined Russell Reynolds in 1999.
Mr. Havener serves aerospace and defense companies, government and commercial systems integrators, software companies, and electronic product companies that sell into government and commercial markets. He has extensive experience in leading international assignments and has led numerous engagements in national security, space, surveillance and reconnaissance, and similar markets both in the U.S. and abroad.
"I am very pleased that Clarke has decided to join us, a move that adds a very strong, well-known market leader to our global team," said Scott Kingdom, Managing Director, Global Industrial Market. "Aerospace & Defense is a sector with significant growth opportunity around the world, and Clarke's leadership and expertise will surely make a deep and immediate impact."
Prior to joining Russell Reynolds, Mr. Havener was President of The Abbott Group, which he co-founded in 1988 to serve clients across Europe and the U.S., concentrating on executive recruiting assignments within aerospace, defense, systems integration, software, hardware, and related areas of technology. His earlier experience included positions with several other executive search firms, a consulting firm that worked on business restructuring, and in sales and marketing with Prentice Hall.
Mr. Havener is a board member of the Wharton Aerospace & Defense Forum, a member of the American Institute of Aeronautics and Astronautics, and the Armed Forces Communications & Electronics Association.
Mr. Havener received his A.B. degree from The College of William and Mary in Virginia.
Korn/Ferry's Aerospace & Defense Sector, which falls within the firm's Global Industrial Market, assists clients in a wide range of specialized areas including: airframes, aircraft engines, aviation electronics, systems, aircraft components, missiles, ground stations, launch vehicles, space systems & services, DOD Contractors, MRO (maintenance, repair, overhaul), and aviation/aerospace services.
About Korn/Ferry International
Korn/Ferry International, with 89 offices in 38 countries, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information on the Korn/Ferry International family of companies, visit http://www.kornferry.com/.
Korn/Ferry International
CONTACT: Kevin Oates, +1-310-584-8331, kevin.oates@ketchum.com, for Korn/Ferry International
Web site: http://www.kornferry.com/
William B. Petersen Chosen to Lead Verizon's Legal Team for State Regulatory Matters in Northeast
PHILADELPHIA, July 30 /PRNewswire/ -- Verizon Communications has named William B. Petersen vice president and associate general counsel for state regulatory matters in the Northeast, effective immediately. Petersen also will maintain his role as president of Verizon Pennsylvania until a successor is named, and he will continue to be based in Philadelphia.
In his new position, Petersen is responsible for Verizon's legal strategy on regulatory matters in Pennsylvania, Delaware, Maryland and New Jersey. He will assume responsibility for New York and the New England states by mid-September.
"Bill's extensive experience on the legal and public policy sides of telecommunications and competitive marketplace issues will serve him well as he returns to lead Verizon's legal team in the Northeast," said Michael E. Glover, Verizon senior vice president and deputy general counsel.
Colleen A. McCloskey, senior vice president-state public affairs, policy and communications, said, "While Bill is returning to his legal roots, we're happy that he'll continue to have strong ties to Pennsylvania in his new position, and he'll continue as state president until a successor is named."
Under Petersen, Verizon has continued its transformation into the leading communications, broadband and entertainment provider in Pennsylvania amid unprecedented competition. The company has obtained 256 cable franchises to date across Pennsylvania and is offering its industry-leading FiOS TV and FiOS Internet services to hundreds of thousands of consumers and businesses.
Petersen said, "Verizon and its Pennsylvania employees have made great strides in telecommunications -- be it in the marketplace or the public policy arena. I'm eager to help bring that success to other states."
Prior to becoming president of Verizon Pennsylvania in May 2006, Petersen was Verizon's general counsel for Delaware, Maryland and Pennsylvania. Before joining the company's legal department in 2000, he was an assistant United States attorney in the Eastern District of Pennsylvania and also worked in private practice. Petersen graduated from the University of Pennsylvania Law School, where he was editor-in-chief of the school's Law Review.
Petersen serves on the boards of the Greater Philadelphia Chamber of Commerce and its CEO Council for Growth; the Independence Visitor Center Corporation; The Kimmel Center for the Performing Arts; WHYY; and the Pennsylvania Chamber of Business and Industry.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Lee Gierczynski, +1-412-633-5574, lee.j.gierczynski@verizon.com, or Sharon Shaffer, +1-215-963-6200, sharon.b.shaffer@verizon.com, both of Verizon
Web Site: http://www.verizon.com/ http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Expert Available: How to Safeguard From DNS WeaknessZixCorp Security Expert Available to Discuss Latest Information Released on DNS Attacks
DALLAS, July 30 /PRNewswire-FirstCall/ -- Zix Corporation (ZixCorp(R)), , the leader in hosted services for email encryption and e-prescribing, today announced that Nigel Johnson, Vice President of Business Development & Product Management for ZixCorp, is available to discuss the critical DNS (domain name server) flaw that was recently announced by penetration tester, Dan Kaminsky, which exposed the security threat that allows hackers to reroute emails and web connections to rogue servers.
There are two ways in which this DNS flaw, called a cache poisoning attack, can be exploited. DNS translates the human readable addresses on the Internet into the numeric addresses that computers use. Hackers can now tell a browser to go to a website that looks like a person's banking site, even though it isn't. For example, when a browser looks up the IP address for a bank, it will get the wrong address and point to a site that looks identical to that bank's website. This powerful attack can grab personal banking information, including passwords.
There is a more insidious attack involving email. Once again, DNS translates the domain name of the email address into computer readable form. With this cache poisoning attack, the emails are routed to a false email server where the messages are copied and then forwarded to the original recipient. Nobody knows that their personal information has just been copied, searched and the relevant information sold on the black market.
Johnson can discuss the specific mechanisms that can be used to attack email content, as well as the black market value of the information that can be garnered from email.
In addition he can discuss the benefits of encrypting email so that this style of attack cannot be used to gather personal information. This attack was first discovered 8 months ago -- how many more attacks have not been published yet?
To schedule a conversation with Mr. Johnson, please contact ZixCorp Public Relations at 214-370-2175 or for ZixCorp Email Encryption Service sales, please call 866-257-4949.
About Zix Corporation
ZixCorp is the leading provider of easy-to-use-and-deploy email encryption and e-prescribing services that Connect entities with their customers and partners to Protect and Deliver sensitive information in the healthcare, finance, insurance and government industries. ZixCorp's hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript(R) e-prescribing service saves lives and saves money by automating the prescription process between payors, doctors and pharmacies. For more information, visit http://www.zixcorp.com/.
Zix Corporation
CONTACT: Public Relations, Farrah Corley, +1-214-370-2175, publicrelations@zixcorp.com, or Investor Relations, Peter Wilensky, +1-214-515-7357, invest@zixcorp.com, both of Zix Corporation
Web site: http://www.zixcorp.com/
L-1 Identity Solutions to Hold Supplemental Second Quarter 2008 Financial Results Q&A Conference Call at 2:00p.m. (ET) Today
STAMFORD, Conn., July 30 /PRNewswire-FirstCall/ -- L-1 Identity Solutions, Inc., , a leading provider of identity solutions and services, will hold a supplemental conference call for Q&A with the investment community regarding second quarter and six months ended June 30, 2008 financial results at 2:00 p.m. (ET) today. Due to technical difficulties, conference participants in the initial 11:00 a.m. (ET) call today were unable to queue for questions. To participate in the conference call, please dial 888-823-7459 using the passcode 58476973. A recording of the conference call will be available starting one hour after the completion of the call. To access the replay, please dial 800-642-1687 and use passcode 58476973.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. , together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit http://www.l1id.com/.
ID-L
CONTACTS:
Doni Fordyce
L-1 Identity Solutions
203-504-1109
dfordyce@L1ID.com
Steve Lipin
Brunswick Group
212-333-3810
L-1 Identity Solutions, Inc.
CONTACT: Doni Fordyce of L-1 Identity Solutions, +1-203-504-1109, dfordyce@L1ID.com; or Steve Lipin of Brunswick Group, +1-212-333-3810
Web site: http://www.l1id.com/
Bothell and Edmonds, Wash., Award Video Franchises to VerizonVotes Pave the Way for Innovative, Competitive Choice for TV Service, Delivered Over the Nation's Most Advanced, All-Fiber-Optic Network Straight to Consumers' Homes
EVERETT, Wash., July 30 /PRNewswire/ -- Residents of Bothell and Edmonds are a major step closer to having an innovative, reliable and competitive alternative for their television services, thanks to unanimous votes by their respective city councils Tuesday (July 29) authorizing Verizon to offer its fiber-optic-powered FiOS TV.
Bothell and Edmonds are the fifth and sixth communities in the state to grant video franchises to Verizon, following similar votes earlier this month in Lynnwood, Everett, Kenmore and Marysville. The company plans to begin offering FiOS TV in Washington later this year.
FiOS TV offers consumers a broad range of programming choices and superior picture quality from the only TV service delivered over the nation's most advanced all-fiber network directly connecting to millions of individual homes and businesses.
"Approval of Verizon's video franchise is great news for the residents of Bothell and Everett, who will soon have more choice for their video entertainment," said David S. Valdez, senior vice president for Verizon's Pacific Northwest region. "We commend the mayors, the city councils and city staffs for their dedication and hard work throughout this process. They recognize and support the technological advantage and competitive benefits, as well as the distinctive edge in economic development and quality of life, that fiber will bring to their communities.
"We look forward to reaching similar agreements with other Washington communities," said Valdez.
The franchise votes give Verizon the authority to offer FiOS TV to up to 13,500 households in Bothell and up to 17,500 households in Edmonds. Many Verizon customers in Washington are already enjoying FiOS Internet service, which delivers ultra-fast download speeds up to 50 Mbps (megabits per second).*
Verizon already provides FiOS TV in parts of California, Delaware, Florida, Indiana, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Texas and Virginia.
FiOS TV Service Highlights
FiOS TV service highlights include:
-- More than 400 all-digital channels grouped by genres such as entertainment, sports, news, shopping, movies and family, making it easy for audiences to find their favorite programming.
-- A wide array of high-definition channels, with extraordinary clarity and theater-quality sound. The company plans to significantly expand the HD lineup to include all available major HD programming by year-end.
-- An industry-leading library of more than 10,000 video-on-demand (VOD) titles each month, 70 percent of which are free. In addition, an increasing number of on-demand titles in high definition, with 1,000 HD VOD titles per month by the end of the year.
-- An easy-to-use interactive media guide that integrates HD programming, on-demand content and the digital video recorder along with broadcast television into a seamless user experience.
-- Set-top boxes ranging from a standard-definition box to the Home Media DVR, featuring a multi-room DVR that enables up to three simultaneous viewings of recorded programs without requiring customers to set up a complex home network or buy extra equipment. The recorder is bundled with Media Manager, a feature that lets customers easily access photos and music from their personal computer and play them on their entertainment center where they look and sound the best.
-- FiOS TV Widgets, a free interactive feature that provides local weather and traffic information.
Programming choices for Hispanic, African-American, Asian, Russian and other multicultural audiences are available in every market, making FiOS TV an outlet for emerging and independent networks to showcase their diverse programming.
Everett consumers can check online at http://www.verizon.com/fios for more information or to request that Verizon contact them when FiOS TV becomes available. Customers also can call their local Verizon sales office or 888-GET FiOS (888-438-3467).
FiOS TV is delivered over Verizon's all-fiber-optic network, which brings the power and capacity of fiber optics directly into people's homes and has industry-leading quality and reliability. Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. It also delivers Internet download speeds of up to 50 Mbps* (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice services.
* NOTE: actual (throughput) speeds will vary.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Jon Davies, +1-805-372-6969, jon.davies@verizon.com
Web Site: http://www.verizon.com/ http://www.verizon.com/fios http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Media Group International Gets Films Products Placement Contract Valued at $1 Million
FOSHAN, China, July 30 /Xinhua-PRNewswire-FirstCall/ -- MyStarU.com, Inc. (OTC Bulletin Board: MYST; Frankfurt Stock Exchange: TQF), is pleased to announce that its majority owned subsidiary, Subaye.com, Inc.'s ( http://www.subaye.com/ ) wholly owned subsidiary Media Group International Limited (MGI), a premier media and marketing management firm, announced that it got a contract of $1 million for product placement advertising in three movies.
MGI will be involved in product placement for three of MyStarU's films: ''Paobu'' is a sports feature film to be shot at the Beijing Olympics Games, Hong Kong film ''Stockbrokers'' and ''True?'' for a sports goods brand, digital electronic and car.
''This contract is very helpful for production and promotion of MyStarU's movies. In the meantime, MGI will receive revenue of $300,000 in advertising,'' said COO of MGI, Eric Tang.
About Media Group International Limited
A premier media and marketing management firm, wholly owned by Subaye.com, Inc., MGI's product line includes converged TV/movie DVD distributions, corporate video presentations, a TV programming agency, video-on-demand media systems (VOD), digital advertising systems, product placement in movies, sponsorship management for TV programming, and service assurance. The Company is a leading provider of product placement in movies, which provides filmmakers and advertisers with a cost-effective solution to increase forward capacity and enable future flexibility on existing cinema lines, DVD sales networks, and VOD online. MGI was founded in 2000, and its corporate headquarters are in Hong Kong.
About Subaye.com, Inc.
Subaye.com, Inc. is a Delaware corporation. MyStarU.com, Inc. (OTC Bulletin Board: MYST) currently owns 69% interests of the Company. The Company, http://www.subaye.com/ , is a video web development, hosting, marketing and e- commerce service provider, offering a unique corporate video sharing platform for both users and customers. Target clients include potential users in the PRC that demand publishing and sharing abilities for their online corporate videos. The platform consists of the Company's websites and the Subaye alliance network, which is the Company's network of third-party websites.
The services are designed to enable Internet users to find relevant online video from the Company's video database, which currently consists of thousands of corporate video profiles, as visible video showcases for presentation. The service provided is distribution through more than 3,000 alliance members (distributors) in China. The alliance members carry out marketing and sales. Subaye Internet Corporate Video serves as a commission base. Alliance members assist corporate users in the studio, including with DV recording, and deliver videos to Subaye video storage and post to video sharing websites, including YouTube.com. Most of the new distributors are the business partners and agents of Baidu and Google, and they will bid for search keywords for online promotion with Baidu.com and other search engines from time to time. The potential users of the Internet Corporate Video service are the 5 million small and medium sized Enterprises in China.
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward- looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
MyStarU.com, Inc.
CONTACT: Ms. Helen Wang, MyStarU.com, Inc. at +86-10-6702-6968 or IR@MyStarU.com
Web site: http://www.subaye.com/
MH-60R Helicopter Departs Lockheed Martin to Complete First Operational Navy Squadron
OWEGO, N.Y., July 30 /PRNewswire/ -- Lockheed Martin completed its initial deliveries of aircraft to the U.S. Navy's first operational MH-60R helicopter maritime strike squadron, the HSM-71 Raptors, ensuring the squadron is ready for its deployment with an aircraft carrier strike group. The San Diego-based pilot and crew departed with the aircraft July 24 for the three-day journey home from Owego, NY.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080730/NYW016 )
Lockheed Martin Systems Integration - Owego is the prime air weapons systems integrator for the MH-60R, the Navy's most advanced submarine hunting and surface warfare helicopter. The team has integrated and delivered 11 aircraft to HSM-71.
Cmdr. Michael Nortier, HSM-71 commanding officer, personally accepted delivery of the squadron's final MH-60R helicopter after addressing industry and government team members in the hangar.
"The new systems and sensors on the MH-60R have expanded the support the helicopter community can provide to the Navy by an order of magnitude," said Cmdr. Nortier. "The visual presentations this technology provides enable us to deploy quickly and effectively, putting our people where they need to be exactly when they need to be there."
The HSM-71 squadron will deploy with the USS John C. Stennis aircraft carrier strike group next year. It will be the first time the MH-60R will take the leading aircraft role in anti-submarine warfare.
The MH-60R replaces the Navy's current fleet of SH-60B and SH-60F Seahawk helicopters and is designed primarily for anti-submarine and anti-surface warfare. Secondary missions include search and rescue, vertical replenishment, naval surface fire support, logistics support, personnel transport, medical evacuation and communications and data relay.
In August 2007, the Navy awarded Lockheed Martin a $1.065 billion multi-year contract to integrate an additional 139 MH-60R helicopters with advanced mission systems and avionics.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.
For additional information, visit our Web site: http://www.lockheedmartin.com/
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080730/NYW016 AP Archive: http://photoarchive.ap.org/ AP PhotoExpress Network: PRN2 PRN Photo Desk, photodesk@prnewswire.com
Lockheed Martin
CONTACT: Monica Hallman, +1-607-751-3200, monica.hallman@lmco.com
Web site: http://www.lockheedmartin.com/
Motorola Provides TETRA Digital Trunked Radio Communications System to Beijing Police Bureau
BEIJING, July 30 /PRNewswire-FirstCall/ -- Motorola, Inc. today announced an agreement with the Beijing Police Bureau to provide its 350MHz TETRA digital trunked radio communications system to support the security needs of the Olympic Games. Beijing is the first city in China to implement a 350MHz TETRA digital trunked radio communication system.
Under the agreement, Motorola will provide the Beijing Police Bureau with a comprehensive TETRA digital trunked radio communication solution that includes 30 base stations, switches, terminals, and additional products and services. The Bureau's plans to establish a new wireless communication system alongside with its existing wireless network was based on a stringent assessment findings conducted to strengthen, safeguard, and to ensure the complete success of the Olympic Games. As this project involves Olympic Games security tasks, the system is strictly required to provide efficient and reliable support for the Olympic Games.
As the pioneer and global leader in the digital trunked radio communication industry, Motorola has strong capabilities to provide a complete line of products for 350MHz TETRA digital trunked systems, including base stations, switches, terminals and other related accessories. Over the years, Motorola has established several long-term relationships serving many Chinese local entities within the sector and is very experienced in China's public safety industry. Motorola is a trusted partner and reputable in the industry for providing its customers with a range of customized solutions that include single cluster stations, multi-slot packet data processing, and mobile base stations, among other products and services.
The communications' department of the Beijing Police Bureau stated, "It is important to use high-quality communications solutions and services to ensure we dispatch effective and reliable radio communications solutions during the Olympic Games. I am pleased that Motorola is able to meet all our needs as it has tremendous experience and sophisticated communications capabilities."
"We are delighted to collaborate with the Beijing Police Bureau to provide wireless communication systems and solutions to enhance the Olympics' security. Motorola has been supporting the needs of mission critical users for Olympics dispatch radio communications since 1972. We provide the most advanced products and services and are highly experienced in digital trunked radio communications for the public security sector worldwide, meeting the stringent needs required by the Beijing Police for a secure Olympics event. We would like to take this opportunity to wish the Beijing Police Bureau a successful mission in handling their security assignments during the Olympic Games. It is our hope for Beijing to succeed in this global event," said Mr. Chew Hock Siong, General Manager, Government & Public Safety, Enterprise Mobile Solutions, Motorola (China) Electronics Ltd.
As an industry leader, Motorola initiated and strongly advocates the TETRA digital trunked radio communications standard. Motorola has served customers in China's public security sector for many years. As early as March 2001, Motorola implemented the first 800MHz TETRA digital trunked radio command and communication system on a full IP platform for the Shanghai Metropolitan Police Bureau. With the support of Motorola's TETRA digital trunked system, the Shanghai Police carried out safe and successful law enforcement for the 2007 Special Olympics World Games, garnering subsequent praise by China's Ministry of Public Security. In January 2008, Motorola signed a contact with Beijing Central Station of Exit and Entry Frontier Inspection to provide a 350MHz TETRA digital trunked system to support radio communications for exit and entry inspection at the Beijing International Airport.
About Motorola
Motorola is known around the world for innovation in communications. The company develops technologies, products and services that make mobile experiences possible. Our portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Motorola is committed to delivering next generation communication solutions to people, businesses and governments. A Fortune 100 company with global presence and impact, Motorola had sales of US $36.6 billion in 2007. For more information about our company, our people and our innovations, please visit http://www.motorola.com/.
MOTOROLA and the Stylized M Logo are registered in the US Patent & Trademark Office. All other product or service names are the property of their respective owners. (C) Motorola, Inc. 2008. All rights reserved.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020307/MOTLOGO http://www.newscom.com/cgi-bin/prnh/20020415/MOTNOTAGLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Motorola, Inc.
CONTACT: Wayne Wang of Motorola China, +86-10-6564-1127, gvkh36@motorola.com; or Daniel Li of Insight Consulting China, +86-10-88865353-8956, danielli@insightpr.com.cn
Web site: http://www.motorola.com/
Ingram Micro Appoints John Soumbasakis to Senior Vice President and General Manager of Strategic Divisions, North AmericaSoumbasakis Ready to Replicate Success within Distributor's High-growth Divisions AVAD and DBL Distribution
SANTA ANA, Calif., July 30 /PRNewswire/ -- Ingram Micro today appointed John Soumbasakis to Senior Vice President and General Manager of Strategic Divisions, North America.
In this new role, Soumbasakis will continue to serve as General Manager of Ingram Micro's high-growth Data Capture/Point-of-Sale (POS) Division, as well as lead the company's emerging consumer electronics divisions which include AVAD and DBL Distributing. The executive leadership within all three Ingram Micro divisions will work directly with Soumbasakis who ultimately reports to Ingram Micro's President of North America Keith Bradley.
"John's leadership and track record for success is proven and we are pleased to have him at the helm of our strategic growth initiatives," says Bradley. "The Data Capture/POS Division continues to grow profitably under John's watch and brings tremendous value and opportunity to our channel partners. We are eager to replicate this success within AVAD and DBL Distributing and build stronger synergies between these high-growth divisions."
Prior to his new role, Soumbasakis served as vice president and general manager of Ingram Micro's Data Capture/POS Division, a position he has held since September 2005. Under his leadership, Ingram Micro's Data Capture/POS Division has experienced record-setting year-over-year growth and is now recognized as one of the IT industry's top channel partners for sourcing all-in-one POS, AIDC and RFID technology solutions.
Early on in his career at Ingram Micro, which started in 2003, Soumbasakis served as vice president, corporate business development where he was responsible for supporting a broad North America restructuring program by managing 36 cross-functional implementation teams. In that role, Soumbasakis also led Ingram Micro's search for new, high-growth market opportunities and analysis of potential acquisition targets which resulted in Ingram Micro's purchase of Nimax (Data Capture/POS Division) in 2004 and AVAD in 2005.
Soumbasakis holds a master's degree in business administration from the Wharton School at the University of Pennsylvania and received his bachelor of arts in economics from Yale University. He resides in Irvine, California with his family.
About Ingram Micro
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves 150 countries and is the only broad-based global IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.
Ingram Micro
CONTACT: Press, Marie Meoli of WhiteFox Marketing & Communications, +1-714-680-0335, marie.meoli@whitefoxpr.com, for Ingram Micro
Web site: http://www.ingrammicro.com/
John Hancock Funds Launches Redesigned Adviser CenterAccessible at www.jhfunds.com
BOSTON, July 30 /PRNewswire-FirstCall/ -- John Hancock Funds announced the launch of its newly redesigned Adviser Center on its award-winning web site http://www.jhfunds.com/. This section of the web site, available to financial advisers who register with John Hancock Funds, provides services and tools to help advisers build their business.
The redesign enables advisers to quickly and easily find information anywhere on the site, typically in two clicks or less.
"We recognize that financial professionals are busy and that their time is valuable. When they come to our site, our goal is to make it fast and simple for them to get what they need to build their business," said Carey Foran Hoch, Vice President of Marketing, John Hancock Funds. "Registering on the site takes two minutes, and allows advisers to instantly gain access to all our popular, customizable tools including Proposal Builder, and interactive, value-added programs such as 12 Great New Client Connections."
The new Adviser Center includes a large, rotating ad module that highlights the latest product solutions, marketing campaigns and resources John Hancock Funds has to offer. Advisers can also access special support in the IRA and tax centers on the site. The 'Find a Fund' section allows advisers to quickly find John Hancock mutual funds by typing in ticker symbols or fund names. The 'Hypotheticals' section identifies specific client concerns in today's economic environment and provides step-by-step instructions, along with Morningstar(TM) illustrations, to help address them. 'Key Adviser Resources' provides instant access to performance information, sales tools, client brochures, and more, via quick links that may be personalized by advisers to fit their needs.
"Since the initial launch of the Adviser site two years ago, we have listened to our advisers and also incorporated feedback from consultants in improving the overall experience on our site," said Ms. Hoch.
John Hancock Funds continues to garner accolades for its web efforts including receiving the 2007 "Best Financial Services Website" and "Best Mutual Fund Website" awards from the Web Marketing Association, and being named one of the "Top 10 Web Sites for Financial Intermediaries" by kasina. Earlier this year, John Hancock Funds launched cutting-edge technology on its Adviser site, including Flip Book technology and video commentary by portfolio managers.
About John Hancock Funds
The Boston-based mutual fund business unit of John Hancock Financial Services, John Hancock Funds manages more than $54.1 billion in open-end funds, closed-end funds, private accounts, retirement plans and related party assets for individual and institutional investors at March 31, 2008. John Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. For more information, please visit http://www.jhfunds.com/.
John Hancock Financial Services is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$400 billion (US$389 billion) at March 31, 2008. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife Financial may be found on the Internet at http://www.manulife.com/.
John Hancock Funds
CONTACT: Beth McGoldrick of John Hancock Funds, +1-617-663-4751, bmcgoldrick@jhancock.com
Web site: http://www.jhfunds.com/ http://www.jhancock.com/ http://www.manulife.com/
Allin Honored as Microsoft's Partner of the Year in Northwest Area
PITTSBURGH, July 30 /PRNewswire-FirstCall/ -- Today, Allin Consulting proudly announced it was awarded the Partner of the Year for the Northwest Area at Microsoft's Worldwide Partner Conference in Houston. The Northwest Area includes partners from Alaska, Washington, Idaho, Oregon and Northern California. The award was presented by Chris Weber, vice president of Enterprise for the Western Region at Microsoft.
"Allin continues to do a tremendous job with our customers," stated Jill Archer, Allin's Microsoft Partner Account Manager. "Allin not only consistently delivers projects to highly satisfied customers, they also stay on the leading edge, adopting new technologies ahead of the curve and leading the way with customer education and deployment."
This follows another prestigious award that Allin received at the Northern California Quarterly Partner Briefing in May where Allin was presented with the General Manager's Award. The award was presented by Jane Dickson, Northwest Area general manager for SMS&P (Small Medium Business Solutions & Partners). The General Manager's Award is the top quarterly prize given to the partner who demonstrates outstanding work in multiple areas that are broad reaching in the district and can be extended outward to other areas of Microsoft. This brings the total to five awards that Allin has received during Microsoft's FY 08 fiscal year in the Northwest Area.
"Microsoft's FY08 was a tremendous year for Allin. We are honored to be recognized by Microsoft amongst so many great partners in the Northwest Area," said Mark Cabot, Managing Director for Allin Consulting in Northern California. "Even in these difficult economic times, our business has continued to grow. We continue to invest in new technologies such as the Microsoft Universal Communications Platform, Surface, FAST and PerformancePoint. We clearly see where Microsoft is headed in the SaaS space and expect to capitalize on it through our recent acquisition of SharePointHosting.com. We anticipate continuing to build on our momentum in Microsoft's FY 09."
About Allin Corporation
Allin Corporation (BULLETIN BOARD: ALLN) is a leading provider of solutions-oriented application development and technology infrastructure consulting and systems integration services. Allin specializes in Microsoft- based technologies and was recently recognized as Worldwide Partner of the Year for Competing to Win: Search and Partner of the Year for Microsoft's Western region. These awards were in addition to being recognized as Partner of the Year for the Eastern Region in Microsoft's prior fiscal year. Allin's operations are centered on four practice areas: Technology Infrastructure, Collaborative Solutions, Business Process and Interactive Media. Allin leverages its experience in these areas to work with clients through a disciplined project delivery framework to ensure that solutions are delivered on time and on budget. Allin delivers these services through the trade names Allin Consulting, Allin Interactive, CodeLab Technology Group and SharePoint Hosting.com. The Company maintains offices in Pittsburgh and Philadelphia, Pennsylvania; Ft. Lauderdale, Florida; Wakefield, Massachusetts; and San Jose and Walnut Creek, California. For additional information about Allin, visit the Company's Internet sites on the World Wide Web at http://www.allin.com/, http://www.codelabtech.com/ and http://www.sharepointhosting.com/ .
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are based on current expectations and projections about future events and financial trends. The words or phrases "continue," "capitalize," "anticipate" and similar words or expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations or other characterizations of future events or circumstances are forward-looking statements. The forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including, among other things, a concentration in the Company's revenue from certain services and clients, a limited backlog, the Company's ability to expand its markets, limited financial resources, dependence on key personnel and competitive market conditions. These are representative of factors which could affect the outcome of the forward-looking statements. In addition, such statements could be affected by general industry and market conditions and growth rates, general domestic and international economic conditions and future incidents of terrorism or other events that may negatively impact the markets where the Company competes. The Company undertakes no obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
Allin Corporation
CONTACT: Dean C. Praskach, Chief Financial Officer of Allin Corporation, Phone: +1-412-928-2022, Telefax: +1-412-928-0225, Dean.Praskach@allin.com
Web site: http://www.allin.com/ http://www.sharepointhosting.com/ http://www.codelabtech.com/
Dover Signs Agreement to Sell Triton Systems
NEW YORK, July 30 /PRNewswire-FirstCall/ -- Dover Corporation announced today that its Engineered Systems segment has signed an agreement to sell Triton Systems of Delaware, Inc., a global provider of ATMs, to Nautilus Hyosung Inc., a subsidiary of Hyosung Corporation, a diversified $7 billion revenue company based in Seoul, Korea. Nautilus Hyosung is a global manufacturer of complete ATM solutions, including hardware, software and services to the entire ATM market.
This transaction is anticipated to close during the third quarter of 2008, pending regulatory approval. Terms of the transaction were not disclosed.
"Triton offers an ideal fit with Nautilus Hyosung as we expand our global footprint," said P. K. Ryou, CEO and President of Nautilus Hyosung. "We look forward to adding Triton's strong brand and outstanding customer service with Nautilus Hyosung to provide our customers with the most comprehensive ATM offering in the marketplace," continued Ryou.
Bill Johnson, Triton's CEO added, "We are very excited about Triton's future with Nautilus Hyosung. We believe the complementary cultures of innovation and customer service will provide a strong platform for growth to compete effectively in the ATM marketplace as well as benefit customers both domestically and globally."
Triton Systems of Delaware, Inc., a Dover company, is a global producer of ATMs. It has been a trusted name in the ATM industry, providing reliable and affordable products, for over 20 years.
Dover Corporation, with over $7 billion in annualized revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
READ IT ON THE WEB
http://www.dovercorporation.com/
Dover Corporation
CONTACT: Paul Goldberg, Director of Investor Relations of Dover Corporation, +1-212-922-1640
Web Site: http://www.dovercorporation.com/
Next Inning Technology Previews Earnings for O2Micro International, Atmel, Taiwan Semiconductor Manufacturing Company, and Monolithic Power Systems
PRINCETON, N.J., July 30 /PRNewswire/ -- Next Inning Technology Research (http://www.nextinning.com/), a subscription service focused on semiconductor and technology stocks, announced it has updated outlooks for O2Micro International , Atmel , Taiwan Semiconductor Manufacturing Company and Monolithic Power Systems .
In a series of reports released in March, Editor Paul McWilliams advised readers it was time to buy specific tech stocks. His selections went up considerably with one very near doubling. However, in May and early June, he warned readers it was time to take some profits and prepare for the summer swoon he saw coming. Now that tech stocks have taken a significant hit, is it time to start buying again? Click to read his updated thoughts and enjoy a 21-day free trial of Next Inning:
https://www.nextinning.com/subscribe/index.php?refer=prn698
In his earnings preview, McWilliams wrote: "The drive towards 450mm wafers is being orchestrated by three companies, Intel, Samsung, and TSMC. By the time we get there, it is doubtful that there will be any other companies able to afford the capital investment necessary to play..."
McWilliams also looks at these topics:
-- Is TSMC poised to benefit from trends in the semiconductor fabrication sector? Does McWilliams view TSMC as a core long-term investment?
-- Has O2Micro been unfairly sold off? Does the potential exist for a rebound?
-- On May 13th, when Monolithic Power was trading for over $25, McWilliams suggested investors take some profits or hedge positions using covered calls. Now that the stock has dropped, what's the next move?
-- Is Atmel likely to outperform its peers in the event of a market turnaround?
Founded in September 2002, Next Inning's model portfolio has returned 206% since its inception versus 80% for the Nasdaq.
About Next Inning:
Next Inning is a subscription financial newsletter focused on technology stocks. Editor Paul McWilliams is a 20+-year industry veteran.
NOTE: This release was published by Indie Research Advisors, LLC, a registered investment advisor with CRD #131926. Interested parties may visit adviserinfo.sec.gov for additional information. Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
CONTACT: Marcie Martin, Next Inning Technology Research, +1-888-278-5515
Indie Research Advisors, LLC
CONTACT: Marcie Martin of Next Inning Technology Research, +1-888-278-5515
Web site: http://www.nextinning.com/ https://www.nextinning.com/subscribe/index.php?refer=prn698
TiVo Launches Power||Watch(TM) Ratings Service, Teams With Starcom to Release Initial Findings- No meaningful difference in Timeshifting or ad fast-forwarding between DVR 'early adopters' and more recent TiVo subscribers -- First look at demographic segmentation proves all viewers are fast- forwarding ads at high rates, though specific commercials skipped vary by segment -
ALVISO, Calif. and CHICAGO, July 30 /PRNewswire-FirstCall/ -- TiVo Inc. , the creator of and a leader in advertising solutions and television services for DVRs, and media planning and buying company Starcom USA, today unveiled the first data from TiVo's Power||Watch(TM) ratings service for the broadcast month of May 2008. TiVo's Power||Watch(TM) ratings service provides advertisers access to second-by-second program and commercial ratings data, with demographic segmentations, for 20,000 households who have volunteered to take part in a "passive" consumer panel -- all subscribers have to do is watch TV, and there are no special logins or separate devices needed to participate.
The Power||Watch(TM) ratings service provides TiVo's Stop||Watch(TM) ratings service subscribers the ability to look at TV viewing broken down by standard household demographics including income, geography, ethnicity, number of children and tenure of TiVo subscriber, among others. Given that these 20,000 TiVo subscribers have expressly consented to TiVo's collection of their personally identifiable viewing information, TiVo can associate household data with the viewership data then produce program and commercial viewership reports by aggregate demographic and behavioral audience groups. All reports prepared by TiVo using this data are anonymous.
TiVo's Power||Watch(TM) ratings service is a companion tool to the Stop||Watch(TM) ratings service, which compiles second-by-second behavioral and viewership data from a separate anonymous sample of 20,000 TiVo units. The information is offered via an easily sortable database of ratings for nationally run programs and advertisements from cable and broadcast networks dating back to September 2006.
May 2008 Power||Watch(TM) Ratings Service Highlights
-- The Power||Watch(TM) ratings service research indicated that, contrary to popular perception, subscribers who have used the TiVo(R) service for more than three years, the "early adopters," are no more likely to avoid commercials than those who have only been TiVo subscribers for one to three years. Essentially, there is no meaningful difference in the amount of Timeshifted viewing or fast-forwarding between these subscriber groups.
-- All demographic segments Timeshift and fast-forward commercials at a high rate, although the specific commercials viewers choose to skip varies. For example, there are significant variances in the amount of time households with children under 12 spent watching commercials for certain product categories during Timeshifted viewing compared to households with adults over 50.
Todd Juenger, Vice President & General Manager, TiVo Audience Research & Measurement said, "DVRs have changed every aspect of television viewing. For the past year and a half, the Stop||Watch(TM) ratings service has helped the industry better understand how DVRs are impacting viewing behavior, especially Timeshifting and commercial fast-forwarding. Nonetheless, questions remained about who is watching or fast-forwarding what commercials and how it relates to household demographics. The Power||Watch(TM) ratings service provides answers to these questions."
Product Category Comparison:
Households with Children Under 12 vs. Households with Adults Over 50
More Watched Product Categories: Households with Children Under 12
Average Seconds Viewed in
Timeshifted Mode
HH with HH with
Product Category Children < 12 Adults 50+ Variance
Children's Skincare Products 18.55 11.64 -37%
Toys & Games 19.82 15.49 -22%
Cakes, Pies, Pastries, Donuts 19.33 15.22 -21%
Computer Games & Educational
Software 28.29 22.60 -20%
Schools & Camps 28.35 22.81 -20%
*Source: Power||Watch Data, May 2008 -- All dayparts
More Watched Product Categories: Households with Adults Over 50
Average Seconds Viewed in
Timeshifted Mode
HH with HH with
Product Category Children < 12 Adults 50+ Variance
Political Parties 25.99 29.86 15%
Collectibles, Art & Galleries 30.11 33.40 11%
Hair Restoration Products & Wigs 12.04 13.30 10%
Floor Furniture Polish 22.50 23.92 6%
Foreign Tourism 22.09 23.29 5%
*Source: Power||Watch Data, May 2008 -- All dayparts
"This preliminary look at TiVo's second-by-second viewing data points toward the growing availability of new insights that were unimaginable only a few years ago," said Tracey Scheppach, Starcom USA SVP/Video Innovation Director. "New viewing behaviors revealed by correlations between household demographic, product category and ad fast-forwarding shows that while everyone is fast-forwarding through ads, effective message delivery can help make an ad resonate more. The Power||Watch(TM) ratings service will continually enable us to more accurately measure viewer behavior by specific demographic segments, which in turn can help us adjust our strategy and maximize return for our clients. The future looks promising."
Starcom was the first media agency to purchase the Stop||Watch(TM) ratings service, TiVo's flagship research product, and assisted TiVo in its development of the Power||Watch(TM) ratings service -- currently available to all Stop||Watch(TM) ratings service clients. Starcom also purchased the inaugural custom survey of the Power||Watch(TM) ratings service panelists, which will provide viewership segmentations based on responses to client- driven questions. The survey is expected to be fielded later this year.
About TiVo Inc.
Founded in 1997, TiVo pioneered a brand new category of products with the development of the first commercially available digital video recorder (DVR). Sold through leading consumer electronic retailers and our website, TiVo has developed a brand which resonates boldly with consumers as providing a superior television experience. Through agreements with leading satellite and cable providers, TiVo also integrates its DVR service features into the set-top boxes of mass distributors. TiVo's DVR functionality and ease of use, with such features as Season Pass(TM) recordings and WishList(R) searches and TiVo KidZone, have elevated its popularity among consumers and have created a whole new way for viewers to watch television. With a continued investment in its patented technologies, TiVo is revolutionizing the way consumers watch and access home entertainment. Rapidly becoming the focal point of the digital living room, TiVo's DVR is at the center of experiencing new forms of content on the TV, such as broadband delivered video, music and photos. With innovative features, such as TiVoToGo(TM) transfers and online scheduling, TiVo is expanding the notion of consumers experiencing "TiVo, TV your way(R)." The TiVo(R) service is also at the forefront of providing innovative marketing solutions for the television industry, including a unique platform for advertisers and audience research measurement.
TiVo, 'TiVo, TV your way.', Season Pass, WishList, TiVoToGo, Stop||Watch, Power||Watch, and the TiVo Logo are trademarks or registered trademarks of TiVo Inc. or its subsidiaries worldwide. (C) 2008 TiVo Inc. All rights reserved. All other trademarks are the property of their respective owners.
About Starcom USA
Starcom (http://www.starcomworldwide.com/) is a full-service media division of Starcom MediaVest Group, which is ranked one of the largest media communications agencies in the world and encompasses an integrated network of highly specialized consumer contact companies. Consistently recognized by third-party sources as an industry powerhouse, Starcom was named Media Agency of the Year by Advertising Age two years in a row and Media magazine the last five years. Starcom's organization includes strategic marketing communication architects who are highly specialized in media management, response media, internet and digital communications, as well as multicultural, entertainment, sports sponsorship and event marketing and media. With over 900 employees and over $8 billion in billings in the U.S. alone, Starcom delivers brand-building results for many of the world's leading companies.
TiVo Inc.
CONTACT: Mike Boccio, +1-212-446-1867, mboccio@sloanepr.com, for TiVo Inc.; or Graham Eason Nolan of Starcom USA, +1-312-220-5382, graham.nolan@starcomworldwide.com
Web site: http://www.tivo.com/ http://www.starcomworldwide.com/
Panic At The Disco and Dashboard Confessional to Co-Headline the First Ever ROCK BAND LIVE TOUR This FallTour Includes Special Guests Plain White T's and The CabTickets Go On Sale on Friday, August 8th
NEW YORK, July 30 /PRNewswire/ -- The musical video game phenomenon of Rock Band(TM) is coming to a city near you. This fall Rock Band Live (http://www.rockbandlivetour.com/) will travel across the country with headline acts Panic At The Disco and Dashboard Confessional, together on stage, with very special guests Plain White T's, The Cab, and possibly YOU!
The concert tour will let Rock Band bands rock their way onto the main stage with a truly interactive experience that allows fans to compete in head-to-head competitions for the chance to play on the main stage in-between the tour acts' sets. Bands will be selected through local radio promotions, national contests and on-site at each show.
Tickets for the tour will go on sale to the public on Friday, August 8th at 10:00AM local time. The tour will kick off on October 5th in San Diego, CA and continue through November 14th ending in Houston, TX.
"Rock Band Live brings together a terrific combination of artists for a night of rock 'n roll love," said Paul DeGooyer, MTV's Senior Vice President of Electronic Games & Music. "The bands are fantastic, the timing dovetails perfectly with the release of Rock Band 2, and the events will be tons of interactive fun for families."
"We're huge fans of Rock Band and feel honored to join the Rock Band 2 game disc setlist with some of our favorite artists like The Who, Bob Dylan and Journey!" said Panic At The Disco's Brendon Urie. "And what better way to celebrate our involvement with the game than joining the first Rock Band tour. We're definitely excited to be a part of things."
"I'm practicing my Rock Band drumming," deadpanned Dashboard Confessional singer Chris Carrabba, "With any luck I'll win a spot on stage to show what I can REALLY do."
Panic At The Disco will be featured on the Rock Band 2 game disc coming out this September. In addition, all Rock Band Live tour acts will be featured in a forthcoming downloadable content pack for the game.
About the Tour
The Rock Band Live tour will visit the following locations:
Date City Venue
Sunday, October 05, 2008 San Diego, CA San Diego Sports Arena
Wednesday, October 08, 2008 Phoenix, AZ Jobing.com Arena
Thursday, October 09, 2008 Las Vegas, NV Hard Rock Outdoors
Friday, October 10, 2008 Los Angeles, CA Staples Center
Saturday, October 11, 2008 San Jose, CA SJ Events Center
Sunday, October 12, 2008 Sacramento, CA Arco Arena
Tuesday, October 14, 2008 Seattle, WA Everett Event Center
Thursday, October 16, 2008 Salt Lake City, UT The E Center
Friday, October 17, 2008 Denver, CO Broomfield Events Center
Saturday, October 18, 2008 Lincoln, NE Pershing Center
Sunday, October 19, 2008 St. Louis, MO Scott Trade Center
Tuesday, October 21, 2008 Minneapolis, MN Target Center
Wednesday, October 22, 2008 Chicago, IL Allstate Arena
Thursday, October 23, 2008 Detroit, MI EMU
Friday, October 24, 2008 Toronto, Canada Arrow Hall
Tuesday, October 28, 2008 Bridgeport, CT Harbor Yard
Wednesday, October 29, 2008 Lowell, MA Tsongas Arena
Friday, October 31, 2008 Washington, DC Patriot Center
Saturday, November 01, 2008 Philadelphia, PA Spectrum
Sunday, November 02, 2008 Newark, NJ Prudential Center
Tuesday, November 04, 2008 Atlanta, GA Gwinnett Center
Thursday, November 06, 2008 Tampa, FL USF Sundome
Friday, November 07, 2008 Miami, FL U of Miami -- Bank
United
Saturday, November 08, 2008 Gainesville, FL U of F -- O'Connell
Center
Sunday, November 09, 2008 Orlando, FL UCF Arena
Tuesday, November 11, 2008 Bossier City, LA Century Tel
Wednesday, November 12, 2008 Dallas, TX Nokia Theatre
Thursday, November 13, 2008 Austin, TX Frank Erwin Center
Friday, November 14, 2008 Houston, TX Reliant Arena
Rock Band Live is an MTV event and sponsored by Hot Topic and Pepsi Stuff. Each will offer exclusive consumer promotions later this fall. For more information on the tour and ticket sales, please visit http://www.rockbandlivetour.com/.
Rock Band Live is being produced by MTV and AEG Live.
About the Artists
Panic At The Disco released their sophomore album, Pretty. Odd. on March 25, 2008 through Decaydance/Fueled By Ramen. While the album is equally as catchy and infectious as their debut, A Fever You Can't Sweat Out, the new album was created as an expansive pop album that channels the ghosts of Brian Wilson, The Beatles and The Zombies. The band's previous album sold over 2.2 million copies, and their single "I Write Sins Not Tragedies" became a #1 hit on MTV, snagging the Best Video award in 2006.
Dashboard Confessional, led by critically acclaimed singer-songwriter Chris Carrabba, has had three consecutive gold records -- The Places You Have Come to Fear the Most (2001), A Mark A Mission A Brand A Scar (2003), and Dusk and Summer (2006). The band toured with U2 and wrapped up their last headline run in 2006 with a sold out Madison Square Garden show. They are putting the finishing touches on a new album, which was produced by Fountains of Wayne's Adam Schlesinger.
Joining Panic At The Disco and Dashboard Confessional are very special guests Plain White T's and The Cab. Plain White T's are about to release Big Bad World the highly anticipated follow-up to the band's platinum-plus-selling breakthrough release Every Second Counts. On the strength of mega-hit single "Hey There Delilah," which rocketed to No. 1 in 10 countries and was the fourth song in history to sell over 3 million digital downloads, Every Second Counts sold over a million and a half copies worldwide and earned the Chicago quintet not one, but two Grammy nominations. The Cab are the next up-and-coming band that will soon become a household name. They released their debut album, Whisper War, on April 29th through Decaydance/Fueled By Ramen.
About MTV Networks
MTV Networks, a unit of Viacom , is one of the world's leading creators of programming and content across all media platforms. MTV Networks, with more than 150 channels worldwide, owns and operates the following television programming services -- MTV: MUSIC TELEVISION, MTV2, VH1, mtvU, NICKELODEON, NICK at NITE, COMEDY CENTRAL, TV LAND, SPIKE TV, CMT, NOGGIN/THE N, VH1 CLASSIC, MTVN INTERNATIONAL and THE DIGITAL SUITE FROM MTV NETWORKS, a package of 13 digital services, all of these networks trademarks of MTV Networks. MTV Networks connects with its audiences through its robust consumer products businesses and its more than 300 interactive properties worldwide, including online, broadband, wireless and interactive television services and also has licensing agreements, joint ventures, and syndication deals whereby all of its programming services can be seen worldwide.
About MTV Games
MTV Games is dedicated to creating, marketing and publishing high-quality, innovative interactive products that are relevant to the MTV audience and complement the core values of the MTV Networks brands.
About Harmonix Music Systems, Inc.
Harmonix Music Systems, Inc., based in Cambridge, MA, and established in 1995, is the leading developer of groundbreaking music-oriented videogames. Harmonix was founded by Alex Rigopulos and Eran Egozy, who formed the company to invent new ways for non-musicians to experience the unique joy that comes from making music and have pioneered music and rhythm gaming in the US. For more information please visit: http://www.harmonixmusic.com/ .
About AEG Live:
AEG Live, the live-entertainment division of Los Angeles-based AEG, is dedicated to all aspects of live contemporary music performance, touring for a variety of programming and multi-media production. AEG Live, the nation's second largest concert promotion and touring company is comprised of special event, broadcast and exhibition divisions, fourteen regional offices and numerous state of the art venues nationwide.
MTV Networks
CONTACT: Mariana Agathoklis for MTV, +1-212-846-5755, or Mariana.Agathoklis@mtvstaff.com; or Amy Troendly for AEG, +1-323-930-7126, or ATroendly@goldenvoice.com
Web site: http://www.mtv.com/ http://www.rockbandlivetour.com/ http://www.harmonixmusic.com/
Verizon Wireless Enhances Services in Ocala, Florida, With New Advanced Cell Site Near CFCC
OCALA, Fla., July 30 /PRNewswire/ -- Verizon Wireless has installed a new advanced digital cell site along College Road in Ocala to provide enhanced coverage and wireless services to students, faculty and staff at Central Florida Community College, as well as to businesses and residences in the area.
With the new site, which utilizes high-speed Evolution-Data Optimized (EV-DO) Revision A (Rev. A) technology, customers will enjoy clearer call reception and faster speeds when downloading music and games and sending text, picture and video messages. Customers using BroadbandAccess, the company's high-speed business data service, can now expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps.
The new cell site is part of the company's continuing investment to expand coverage, increase capacity and enhance the quality of its wireless voice and data network in Florida and throughout the country. Verizon Wireless has invested more than $1.7 billion in Florida and more than $45 billion nationally since the company was formed. The company spent $178 million to enhance services and coverage throughout Florida during 2007 alone.
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: Chuck Hamby of Verizon Wireless, +1-813-615-4803, Chuck.Hamby@verizonwireless.com
Web site: http://www.verizonwireless.com/
TechWeb Announces TransformationEnablers.comResearch, Best Practices and Expert Commentary to Help Businesses Succeed Amid Rapid Change
MANHASSET, N.Y., July 30 /PRNewswire-FirstCall/ -- TechWeb, a division of United Business Media LLC, in conjunction with Satyam, Computer Services, Ltd. , a leading global consulting and information technology services provider, launched TransformationEnablers.com, a new source of research, insights and expert commentary on how businesses can apply technology to transform their processes, practices and technologies for strategic advantage.
"Businesses thrive in today's global economy if they can adapt quickly to change and transform to meet new market imperatives," said Elliot Kass, Managing Director, TechWeb Content Services. "TransformationEnablers.com is an information resource for business technology managers who are working to optimize their infrastructures and business processes."
"TransformationEnablers.com provides Satyam with a platform for sharing our knowledge, expertise and strategic thinking for the benefit of those companies seeking to re-invent their business processes," said Samir Bagga, Vice President, Global Marketing and Communications, Satyam.
Central to the new site (http://www.transformationenablers.com/) are a series of blogs dealing with industry-specific challenges and best practices in the new global environment. The industries addressed include: banking, financial services and insurance; telecommunications and media; manufacturing; healthcare and pharma; transportation and logistics and retail. Other site content includes original market research, transformational case studies and reports on best practices.
"The site explores different transformation enablers each month," said Site Editor Jennifer Zaino, a veteran business technology journalist and former executive editor of InformationWeek and Network Computing. "Our initial focus is on business process outsourcing, but upcoming areas of coverage include application services, business intelligence and data warehousing."
Throughout the remainder of the year and early 2009, a series of webcasts and in-person educational seminars will be hosted by the site.
About United Business Media LLC
United Business Media LLC (http://www.ubmtechnology.com/), formerly known as CMP, has four separate and distinct technology divisions -- Everything Channel, TechInsights, TechWeb and Think Services -- which produce the leading online, event and print brands, and provide business tools and integrated media solutions for technology marketers. Its respected media brands include InformationWeek, the TechWeb Network, ChannelWeb, CRN, EE Times and TechOnline; major industry events such as Interop, Web 2.0 Expo, XChange, Game Developers Conference and the Embedded Systems Conferences; and business information and marketing services such as the Institute for Partner Education and Development, International Customer Management Institute and Semiconductor Insights. United Business Media LLC is a subsidiary of United Business Media Limited (http://www.unitedbusinessmedia.com/), a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.
About Satyam
Satyam , a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in 20* industries and 63* countries.
Satyam leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company's 51,127* professionals excel in engineering and product development, supply chain management, client relationship management, business process quality, business intelligence, enterprise integration, and infrastructure management, among other key capabilities.
Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve 654* clients, including more than one third of the Fortune 500. For more information, see http://www.satyam.com/ .
*As of March 31, 2008
CONTACT:
Scott Vaughan
VP, Marketing Services
United Business Media/TechWeb
svaughan@techweb.com
949-223-3662
TechWeb
CONTACT: Scott Vaughan, VP, Marketing Services of United Business Media-TechWeb, +1-949-223-3662, svaughan@techweb.com
Web site: http://www.transformationenablers.com/ http://www.ubmtechnology.com/ http://www.unitedbusinessmedia.com/ http://www.satyam.com/
Company News On-Call: http://www.prnewswire.com/comp/141755.html
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