Companies news of 2008-08-04 (page 4)
University of Southern California School of Architecture Earns Autodesk Revit BIM...
Tides Center Builds Custom Grant Tracking, Contract Management and Financial Operations...
Autodesk Contributes Coordinate System Software to the Open Source CommunityOpen Source...
Oracle Offers Clinical Applications That Support Study-Based Requirements#1 Enterprise...
Dana-Farber Cancer Institute Extends Value of Clinical and Research Data With...
Integral Systems Expands Offices to Support Government Customers
Anixter International Inc. Announces the Acquisition of the Assets and Operations of QSN...
Gameloft Releases Wild West Guns for WiiWare
Nam Tai Electronics, Inc.: Q2 2008 Sales Down 26.1%, Gross Profit Margin Improves to 14.2%...
Texas Instruments DLP Press Invitation: Discover the Latest DLP Innovations at IFA 2008
[video] NetSymphony COO, Dan Ference Discusses New Product Release on WallSt.net's...
Yucheng Technologies Announces Conference Call on August 18, 2008 for Unaudited Financial...
Yucheng Technologies Provides Leading E-Banking Solution to Bank of Ningbo
Giant Wireless Technology Selects DSP Group's New XpandR Platform for its Digital Home...
CEVA, Inc. Announces Stock Repurchase Program
Scopus Enters into Term Sheet to Acquire the Business of Optibase
MIPS Technologies to Hold Fourth Quarter and Fiscal 2008 Earnings Call August 13, 2008
EchoStar Reports Second Quarter 2008 Financial Results
DISH Network(R) Reports Second Quarter 2008 Financial Results
KPN Deploys Amdocs OSS for the Fulfillment of Broadband Services
Ralink Announces Industry's First Single Chip 802.11n 1x1 PCIe Solution
Etelcharge Retains TransMedia Group to Publicize New Way to Pay OnlineMedia Campaign to...
Spansion Announces Plans to Support New OMTP Handset Security Requirements for Safer...
Stronger, Better, Faster - Orange Improves 3G Network Performance in North East England,...
Telepath Collaborated with Infineon and SMIC to Successfully Enable Diverse Mobile TV...
Encore Payment Systems (U.S.) Secures Remote Access With DIGIPASS GO 3 and VACMAN...
Washington State's Edmonds Community College Selects Autonomy's Business Process...
Cellcom Israel Schedules Second Quarter 2008 Results Release for August 13, 2008Conference...
Jet Airways Opts for International Payment Solutions From Wirecard AG
QUANTEL: Emission d'actions à bons de souscription d'actions avec maintien du droit...
University of Southern California School of Architecture Earns Autodesk Revit BIM Experience AwardSchool Honored for Integrating Revit Architecture Software for Building Information Modeling into Curriculum and Encouraging Sustainable Design Skills
SAN RAFAEL, Calif., Aug. 4 /PRNewswire-FirstCall/ -- Autodesk, Inc. , announced that it has presented the University of Southern California's School of Architecture with a Revit BIM Experience Award. The award honors the school for teaching building information modeling (BIM) to graduate and undergraduate students to give them the skills highly sought after by leading architectural firms. The award also recognizes the school's ongoing efforts to promote BIM, including the recent BIM BOP 2008 symposium, which brought together practicing architects, students and faculty to discuss BIM, sustainable design and other key trends in the building industry.
"BIM, and its ability to facilitate integrated project delivery and sustainable design, are transforming the architecture and construction professions," said Karen Kensek, associate professor of the practice of architecture for USC's School of Architecture. "Offering our students experience with BIM helps them think in 3D so they can fully understand the entire building and start to come to terms with issues of constructability. We also know from our annual architecture career fair that experience using Revit Architecture for BIM makes our students very attractive job candidates."
BIM is an integrated process built on coordinated, reliable information about a project from design through construction and into operations. By adopting BIM, architects, engineers, contractors and owners can easily create coordinated, digital design information and documentation; use that information to more accurately visualize, simulate and analyze performance, appearance and cost; and reliably deliver the project faster, more economically and with reduced environmental impact.
BIM Courses at USC School of Architecture
USC's School of Architecture teaches Revit Architecture software to introduce students to the principles of BIM and 3D design. The school also uses the Autodesk Sustainable Design Curriculum to instruct students in the use of BIM for sustainable design. Students can export their Revit models to a wide variety of energy-performance analysis software tools, such as Autodesk Ecotect, Autodesk Green Building Studio and IES Virtual Environment, to conduct daylight and shading studies. The architecture students also learn how to create stunning, photo-real animations and renderings of their projects using Autodesk 3ds Max Design software.
"We applaud USC's efforts to provide students with highly marketable, real-world skills based on a curriculum that includes Revit Architecture for BIM and sustainable design tools," said Jay Bhatt, senior vice president, Autodesk AEC Solutions. "We hope that as they enter the workforce they will evangelize BIM and sustainable design practices."
About the Revit BIM Experience Award
The Revit BIM Experience Award celebrates building industry professionals and educators around the world who are helping to transform the building industry through building information modeling. Autodesk honors organizations with this award for innovation and excellence in implementing the Revit platform (including Revit Architecture, Revit Structure and Revit MEP software applications) for building information modeling on one or more projects.
About Autodesk
Autodesk, Inc., is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art Digital Prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit http://www.autodesk.com/.
Autodesk, AutoCAD, Ecotect, Green Building Studio, Revit and 3ds Max are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates, in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
(C) 2008 Autodesk, Inc. All rights reserved.
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Contact: Noah Cole, 503-707-3872
Email: noah.cole@autodesk.com
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Autodesk, Inc.
CONTACT: Noah Cole of Autodesk, Inc., +1-503-707-3872, noah.cole@autodesk.com
Web site: http://www.autodesk.com/
Tides Center Builds Custom Grant Tracking, Contract Management and Financial Operations Applications Using the Force.com Platform-as-a-Service from Salesforce.comSalesforce.com's 1% product donation program helps innovative nonprofit transform its organization to better serve others
SAN FRANCISCO, Aug. 4 /PRNewswire/ -- The Salesforce.com Foundation, the global leader in integrating philanthropy and business, today announced that Tides Center, a sector-leading nonprofit that provides back-office services to over 200 socially innovative projects across the country, has completely transformed its business using donated and discounted licenses of Salesforce CRM and Force.com as part of salesforce.com's 1% Product Donation Program. Using the Force.com Platform-as-a-Service, Tides Center built a set of custom, Software-as-a-Service applications to improve services to its projects by streamlining processes, reducing redundancies, eliminating paperwork, and minimizing data entry error. Salesforce.com partner CASA Customer Solutions helped design and deploy the Force.com applications for Tides Center.
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"With projects across the country and around the globe, we operate with a unique set of business challenges; and, as a nonprofit, we have tight budgets and limited IT resources. We wanted a way to drastically improve our services to our projects and create a replicable model for the nonprofit sector without investing in implementing and maintaining a bunch of software applications," said Ellen Friedman, Executive Vice President of Tides. "Salesforce.com gave us exactly what we needed -- a cost-effective way to create a completely customized solution for our unique model."
Tides Center used Force.com to design and deploy a custom portal for potential new projects to initiate, manage and submit applications. The portal is integrated directly with Salesforce CRM, so staff has a complete view into the pipeline of new project applications in process as well as those that have been submitted for review. This insight helps Tides Center manage the application review and tracking process more effectively, and also keep applicants informed along the way.
Vendor contract management was another area Tides Center addressed with its Force.com deployment. The organization wanted to eliminate the myriad of emails, faxes and paper involved in managing vendor contracts for over 200 projects. With Force.com, Tides Center created a fully automated workflow and approval mechanism that significantly streamlined contract approvals and kept all relevant contract information in a single, central location.
Full integration of Tides Center's accounting system with the Force.com platform is expected to give staff and projects direct access to real-time financial information as well as more timely, accurate, and customizable financial reports. The full deployment is expected to enhance the projects' visibility into the management of their financial resources.
"Force.com has been a tremendous asset. We have been able to create our own applications, extend the value of our Salesforce CRM deployment, and easily add additional features from AppExchange that helped with our marketing efforts," said Tom Shaffer, Tides Center's CRM Program Director. "Looking to the future, we know we have the right platform in place to support our organization as our needs grow and change."
About the Salesforce.com Product Donation Program
The salesforce.com 1% Product Donation Program is a key component of salesforce.com's 1/1/1 Model where 1% Time, 1% Equity, 1% Product are given to nonprofits around the world to help them better serve their social missions. The 1% Product Donation Program provides qualified nonprofits with unprecedented access to state of the art, enterprise-class technology to fuel innovation in their organizations. Today, more than 4,000 nonprofits are using Salesforce to manage a wide range of organizational needs including managing constituent relationships, fundraising campaigns, volunteers, program delivery, and much more. Salesforce.com donates 10 licenses to qualified nonprofits. Additional licenses are offered at an 80 percent discount. For more information on this program, please visit http://www.salesforcefoundation.org/product.
Developers interested in creating applications for nonprofits can get started for free by joining the Salesforce Developer Network http://www.salesforce.com/developer/, which provides instant access to software development tools and information on how to develop on the Salesforce platform.
About the Force.com Platform and AppExchange
The Force.com platform (http://www.force.com/) reinvents the traditional development, deployment and distribution of any business application. Developers, customers and partners can use Force.com to easily create and deliver a new generation of Software-as-a-Service applications. Force.com allows applications to be easily shared, exchanged and installed with a few simple clicks via the Force.com AppExchange marketplace, enabling all the innovation that Force.com unleashes to be easily distributed to the entire Software-as-a-Service community.
The Force.com AppExchange economy continues to expand, with thousands of customers installing applications via the AppExchange. Customers of all sizes can quickly and easily extend Salesforce with additional Software-as-a-Service business applications available on the Force.com AppExchange, found at http://www.salesforce.com/appexchange/.
About Tides
Tides partners with philanthropists, activists, foundations, and organizations to promote economic justice, a robust democracy, and the opportunity to live in a healthy and sustainable environment where human rights are preserved and protected. Tides Foundation, Tides Center and Tides Shared Spaces have collaborated with over 15,000 individuals and organizations that have touched millions of lives across the country and around the globe. Founded in 1976, and with offices in San Francisco and New York City, Tides provides fiscal sponsorship to over 200 groups across the country, operates and supports green nonprofit centers and has granted more than $550 million since 2000 alone. For more information, visit http://www.tides.org/.
About the Salesforce.com Foundation
The Salesforce.com Foundation is the leader in pioneering, evangelizing and implementing the 1/1/1 Model to improve the lives of people around the world. The 1/1/1 Model harnesses the power of people and technology through 1% Time, 1% Equity, 1% Product to build deep relationships with communities around the world and increase the effectiveness of nonprofit organizations in achieving their goals. The Foundation concentrates on the use of technology, specifically as it relates to organizations with youth development programs. It has supported technology projects around the world that help kids in bereft urban and rural areas access technology to create better futures for themselves. The 1/1/1 Model has had a profound effect on salesforce.com and its communities: Since July of 2000, salesforce.com employees have given over 80,000 hours of their time and expertise back to the community. More than 4,000 nonprofits in 56 countries around the world are using donated licenses of Salesforce to run their businesses more efficiently; and numerous organizations are benefiting from technology related grants from the Foundation. For more information on the 1/1/1 Model, please visit http://www.sharethemodel.org/. For more information on the Salesforce.com Foundation, please visit http://www.salesforcefoundation.org/.
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The Salesforce.com Foundation
CONTACT: Erin O'Keeffe of salesforce.com, +1-415-536-6150, eokeeffe@salesforce.com
Web site: http://www.salesforcefoundation.org/ http://www.force.com/ http://www.tides.org/
Autodesk Contributes Coordinate System Software to the Open Source CommunityOpen Source Technology Continues to Gain Momentum with Geospatial Professionals
SAN RAFAEL, Calif., Aug. 4 /PRNewswire-FirstCall/ -- Autodesk, Inc., today announced that it has donated the source code for CS-Map coordinate system technology to the open source community and is seeking to establish it as part of an official OSGeo Foundation project for coordinate reference systems. The contribution represents Autodesk's third major contribution to the open source community, following its MapGuide Open Source and Feature Data Object (FDO) Data Access Technology donations.
"This contribution advances OSGeo's mission of supporting and building the highest quality open source geospatial software," said Frank Warmerdam, president of the OSGeo Foundation. "Opening the CS-Map source code will ensure that all organizations and developers have access to this industrial-quality comprehensive library of map projections and coordinate systems, including several capabilities not previously available in open source."
"Autodesk recognizes the central values of open source community and enterprise development, including faster innovation, more frequent product updates and lower overall cost of ownership," said Lisa Campbell, vice president, Autodesk Geospatial. "By contributing the code for CS-Map, Autodesk hopes to meet users' needs while continuing to encourage community participation in software and application development."
Coordinate System Technology Integral to Geospatial Analysis
CS-Map is a coordinate system and map projection library that enables users to more easily support geographic coordinate conversions and allow accurate and precise geospatial analysis. It currently supports a library of more than 3,000 map projections and coordinate systems. Coordinate systems are fundamental pieces of any mapping or geospatial application and are constantly being added and updated. With open source code, the open source community will be able to develop coordinate conversions as needed and give organizations and developers access to this critical piece of technology.
Autodesk acquired CS-Map through its acquisition of Mentor Software in September 2007. CS-Map is currently embedded in most Autodesk geospatial products, including AutoCAD Map 3D and Autodesk MapGuide Enterprise.
Open Source Geospatial Projects See Further Adoption
OSGeo currently hosts 15 open source geospatial projects, including MapGuide Open Source and FDO Data Access Technology. Since the organization's founding in 2006, its projects now represent code contributions from more than 200 developers including a base of more than 6 million lines of code.
The MapGuide Open Source project also announced the addition of MapGuide Maestro to the project, which is a new map authoring tool for MapGuide Open Source. MapGuide Maestro is a free application that eases the management of spatial data in MapGuide Open Source and has specialized interfaces for editing the following components of MapGuide Open Source: feature sources, Layer definitions, Map Definitions, Web Layouts and Fusion Layouts.
Organizations large and small are reaping the benefits of the continual updates from the community. The Resort Municipality of Whistler, British Columbia has adopted MapGuide Open Source to help promote Whistler2020 -- a program aimed at preserving Whistler's environment with sustainable, eco-friendly practices. KidsGIS, an eco-friendly GIS portal developed by volunteers from the geospatial field to teach children about the environment, includes an online mapping application built on MapGuide Open Source. Both projects also draw on FDO Data Access Technology to incorporate data from multiple sources.
About Autodesk
Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit http://www.autodesk.com/.
Autodesk, AutoCAD and Autodesk MapGuide are registered trademarks of Autodesk, Inc., in the USA and/or other countries. OSGeo and Open Source Geospatial Foundation are trademarks of the Open Source Geospatial Foundation in the USA and/or other countries. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. All other brand names, product names, or trademarks belong to their respective holders.
(C) 2008 Autodesk, Inc. All rights reserved.
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Contact: Brett Smith (415) 547-2405
Email: brett.smith@autodesk.com
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Autodesk, Inc.
CONTACT: Brett Smith of Autodesk, Inc., +1-415-547-2405, brett.smith@autodesk.com
Web site: http://www.autodesk.com/
Oracle Offers Clinical Applications That Support Study-Based Requirements#1 Enterprise Software Company Helps Global Health Sciences Organizations Accelerate Insights for Better Health
REDWOOD SHORES, Calif., Aug. 4 /PRNewswire-FirstCall/ -- -- Demonstrating its understanding of the unique needs of health sciences organizations, Oracle today announced that Oracle(R) Remote Data Capture, Oracle Clinical and Oracle Thesaurus Management System are helping to meet customers' study-based requirements.
-- By accommodating study-based requirements when that is preferred by customers, Oracle is making it easier for health sciences organizations to leverage Oracle's best-in-class clinical applications for electronic data capture, clinical trial management and thesaurus management.
-- Oracle has built the health sciences sector's most comprehensive suite of applications for clinical development and safety. The applications provide a streamlined system for managing large volumes of patient data collected during clinical trials and offer flexible features for modeling any kind of clinical study.
-- Recently, Oracle announced the formation of a new Global Business Unit -- http://tinyurl.com/6s3g5w -- focused on software applications for the health sciences industry. Today, 20 of the 20 top pharmas and 14 of the 15 top U.S. hospitals run Oracle.
Supporting Quote
"As part of our commitment to accelerate insights for better health, it is critical that we maximize customer value and deliver the industry's best ownership experience for Oracle clinical applications. We believe offering applications that can accommodate study-based requirements helps fulfill this commitment by providing increased flexibility for our life sciences customers," said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences Global Business Unit.
Supporting Resources
Oracle in Health Sciences
http://www.oracle.com/industries/health_sciences/index.html
Oracle Remote Data Capture
http://www.oracle.com/industries/life_sciences/remote-data-capture.html
Oracle Clinical
http://www.oracle.com/industries/life_sciences/oracle-clinical.html
Oracle Thesaurus Management System
http://tinyurl.com/5aj7kt
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
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Oracle
CONTACT: Kevin Ruane of Oracle, +1-650-506-6610, kevin.ruane@oracle.com
Web site: http://www.oracle.com/
Dana-Farber Cancer Institute Extends Value of Clinical and Research Data With OracleOracle(R) Healthcare Transaction Base and Oracle Fusion Middleware Form Foundation for Translational Research Infrastructure Created to Improve Disease Understanding and Treatment
REDWOOD SHORES, Calif., Aug. 4 /PRNewswire-FirstCall/ -- -- Dana-Farber Cancer Institute, one of the leading cancer research and care centers in the United States, is using Oracle(R) Healthcare Transaction Base (HTB) and Oracle Fusion Middleware components as the foundation for its new translational research infrastructure.
-- The new infrastructure is designed to maximize the value of clinical and research data, and help improve disease understanding and patient care.
-- Dana-Farber, through its research, collects large amounts of patient and clinical data, as well as thousands of biological samples. It also relies on outside data sources to advance its research and understanding of complex diseases.
-- To design new studies and address complex questions, Dana-Farber researchers need to aggregate clinical, sample and genomic data from within and beyond the organization's collections.
-- Dana-Farber, like many research organizations, lacked a single, integrated data infrastructure that enables aggregation and provides a comprehensive view.
-- Using Oracle Healthcare Transaction Base, Dana-Farber created an integrated data repository that enables researchers to access clinical and sample data using a single platform and seamlessly connect it with experimental data.
-- The new data infrastructure helps researchers investigate clinical data more thoroughly, make complex queries and more complete data analysis, and improve experiment design. It also enables more rapid queries, providing researchers with answers in minutes to queries that previously required days to process.
-- To help ensure compliance with Health Insurance Portability and Accountability Act (HIPAA) requirements, Oracle infrastructure software enables Dana-Farber to match clinical data and samples from specific patients and then remove identifying information from the data before presenting it to a researcher.
-- Dana-Farber deployed Oracle Identity Management and Oracle Access Manager, components of the Oracle Fusion Middleware suite, to enable researchers to securely access data from any location.
-- Oracle BPEL Process Manager enables Dana-Farber to manage complex clinical data transfers securely as well as replicate processes that require multiple deployments across the infrastructure.
-- Dana-Farber uses Oracle Fusion Middleware to build and manage web services that facilitate integration with third-party applications for advanced analytics and data mining across the various data sets.
-- Dana-Farber worked with Oracle Consulting to identify requirements, design and, ultimately, deploy the solution using off-the-shelf products -- going live within five months after completion of the solution design.
Supporting Quotes
-- "Oracle Healthcare Transaction Base enabled us to securely integrate our clinical, sample and genomic data -- helping us to maximize the use of this information in our quest to develop a better understanding of and treatments for serious diseases," said John Quackenbush, Ph.D., Professor of Biostatics and Computational Biology, Dana-Farber Cancer Institute. "We leveraged Oracle's extensive offerings to create a solution that helps our researchers work more securely and with greater insight. And because we leveraged Oracle's existing technology, we have a system that we could rapidly implement, that is scalable and extensible, and one that can serve as a framework for other organizations facing similar challenges."
-- "Health sciences organizations require advanced data integration capabilities, combined with analytical power and process flexibility, to effectively support emerging translational medicine initiatives," said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences Global Business Unit. "Oracle solutions, such as Oracle Healthcare Transaction Base, facilitate powerful enterprise-wide data integration that helps organizations enable the critical flow of information from the bedside to the bench, and vice versa."
Supporting Resources
Oracle in Health Sciences
http://www.oracle.com/industries/health_sciences/index.html
Oracle Healthcare Transaction Base
http://www.oracle.com/industries/healthcare/htb.html
Oracle Identity Management
http://www.oracle.com/technology/products/id_mgmt/index.html
Oracle Access Manager
http://www.oracle.com/technology/products/id_mgmt/coreid_acc/index.html
Oracle BPEL Process Manager
http://www.oracle.com/technology/products/ias/bpel/index.html
Dana-Farber Cancer Institute
http://www.dana-farber.org/
Dr. Quackenbush's Laboratory
http://compbio.dfci.harvard.edu/
About Dana-Farber Cancer Institute
Dana-Farber Cancer Institute provides expert, compassionate care to children and adults with cancer, while advancing the understanding, diagnosis, treatment, cure, and prevention of cancer and related diseases. Founded in 1947, it is a principal teaching affiliate of the Harvard Medical School and is among the leading cancer research and care centers in the United States. It is a founding member of the Dana-Farber/Harvard Cancer Center, which is designated as a comprehensive cancer center by the National Cancer Institute. It also provides training for new generations of physicians and scientists; designs programs that promote public health; and disseminates innovative patient therapies and scientific discoveries to its target community across the United States and throughout the world.
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
Trademarks
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
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Oracle
CONTACT: Kevin Ruane of Oracle, +1-650-506-6610, kevin.ruane@oracle.com; or Kelli Davis of O'Keeffe & Company, +1-757-966-1676, kdavis@okco.com, for Oracle
Web site: http://www.oracle.com/
Integral Systems Expands Offices to Support Government Customers
LANHAM, Md., Aug. 4 /PRNewswire-FirstCall/ -- Integral Systems , today announced that it is leasing additional office space in Colorado Springs, CO, El Segundo, CA, and Chantilly, VA, to accommodate the satellite ground system company's government business growth.
The new 15,000 square feet of office space in Colorado Springs is located across the street from its current location at 980 Technology Court. The expansion brings Integral's Colorado Springs total office space to more than 48,000 square feet, with roughly half of Integral's worldwide employees located in Colorado Springs.
"We are very excited about our expansion as it demonstrates that we've been able to recruit and retain good, talented people to serve our customers," said Jeff Benesh, Vice President for Western Operations in Integral Systems' Government Division. "With the increase in demand we're seeing from our government customers, this new space will allow us to continue to support this demand by hiring more qualified engineers and software designers with defense contracting experience."
The new office space is being leased from Corporate Office Properties Trust (COPT), which is managing the company's headquarters move to Howard County, Maryland, in February 2009. "We are extremely pleased to continue our relationship with Integral Systems so that we can meet its commercial real estate needs nationwide," said Randall M. Griffin, President and CEO of COPT.
Integral has also worked with COPT to open a new 7,000 square feet space in Chantilly, VA. In addition, Integral has executed a 3,500 square foot lease in El Segundo, CA.
"This office expansion is attributed to our ability to deliver high quality ground systems to government customers on time and on budget," said Jim Schuetzle, Executive Vice President for Integral's Government Division. Having facilities located in close proximity to major government centers makes us more responsive to our customers' needs."
About Integral Systems
Founded in 1982, Integral Systems is a leading provider of satellite ground systems and has supported more than 205 different satellite missions for communications, science, meteorological, and earth resource applications. Integral Systems was the first company to offer an integrated suite of COTS (Commercial-Off-the-Shelf) software products for satellite command and control: the EPOCH IPS (Integrated Product Suite) product line. EPOCH IPS has become the world market leader in commercial applications with successful installations on five continents.
Through its wholly-owned subsidiary, SAT Corporation, Integral Systems provides satellite and terrestrial communications signal monitoring systems to satellite operators and users throughout the world. Through its Newpoint Technologies, Inc., subsidiary, Integral Systems also provides software for equipment monitoring and control to satellite operators, broadcasters, and telecommunications firms. Integral Systems' RT Logic subsidiary builds telemetry processing systems for military applications, including tracking stations, control centers, and range operations. Integral Systems' Lumistar, Inc., subsidiary provides system- and board-level telemetry acquisition products. Integral Systems has approximately 500 employees working at its headquarters in Lanham, MD, and at other locations in the U.S. and Europe. For more information, visit http://www.integ.com/
Integral Systems
CONTACT: William Bambarger, Jr., of Integral Systems, Chief Financial Officer, +1-301-731-4233; or Media, Shany Seawright of Strategic Communications Group, +1-240-485-1081, sseawright@gotostrategic.com, for Integral Systems
Web site: http://www.integ.com/
Anixter International Inc. Announces the Acquisition of the Assets and Operations of QSN Industries, Inc. and Quality Screw de Mexico SA
GLENVIEW, Ill., Aug. 4 /PRNewswire-FirstCall/ -- Anixter International Inc. , a leading global distributor of communication products, electrical and electronic wire & cable, fasteners and other small parts today announced that it had acquired the assets and operations of QSN Industries, Inc. ("QSN") and all of the outstanding shares of Quality Screw de Mexico SA ("QSM").
QSN, based near Chicago, Illinois, is a distributor and manufacturer of fasteners for the OEM marketplace. QSN operates 13 facilities in Alabama, Arizona, Georgia, Illinois, Michigan, Ohio, South Carolina, Tennessee and Texas. Its sole manufacturing facility is located in Wood Dale, Illinois.
Headquartered in Aguascalientes, Mexico, QSM is a distributor of fasteners with a total of five operational sites in Mexico. The QSN and QSM operations will complement Anixter's product offering with a broad array of value-added services and supply chain management programs to Original Equipment Manufacturers ("OEMs") in a number of vertical markets.
As a part of this transaction, Anixter will pay approximately $80 million in cash and assume trade liabilities, for all of the assets and operations of the two companies. Combined annualized sales for these businesses are expected to be over $100 million in 2008.
Commenting on the acquisition, Bob Eck, President and CEO of Anixter, said, "We are pleased to have acquired the QSN and QSM operations as well as the excellent team that has successfully led these businesses. These acquisitions leverage our existing infrastructure and bring an important new critical mass to our North American OEM Supply business by adding locations in Mexico as well as manufacturing capacity. The manufacturing capabilities acquired with the QSN operations will provide Anixter with enhanced flexibility to meet supply chain commitments where quick turnaround times are important to rapidly changing customer requirements. This strong and robust operational model will better position us to drive future organic growth."
"We anticipate that this acquisition will be immediately accretive to earnings and add 7 to 9 cents to diluted earnings per share during our first full year of ownership," said Eck. "When combined with our existing business in North America, we anticipate annual OEM Supply revenues of over $600 million in this region over the next year."
About Anixter
Anixter International is a leading global distributor of communication products, electrical and electronic wire & cable, fasteners and other small parts. The company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs, 2) more than 400,000 products and over $1 billion in inventory, 3) 214 warehouses with more than 6 million square feet of space, and 4) locations in 248 cities in 50 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on The New York Stock Exchange under the symbol AXE.
Safe Harbor Statement
The statements in this news release that use such words as "believe," "expect," "intend," "anticipate," "contemplate," "estimate," "plan," "project," "should," "may," or similar expressions are forward-looking statements. They are subject to a number of factors that could cause the company's actual results to differ materially from what is indicated here. These factors include general economic conditions, technology changes, changes in supplier or customer relationships, commodity price fluctuations, exchange rate fluctuations, new or changed competitors and risks associated with integration of recently acquired companies. Please see the company's Securities and Exchange Commission filings for more information. Additional information about Anixter is available on the Internet at http://www.anixter.com/
Anixter International Inc.
CONTACT: Dennis Letham, Chief Financial Officer of Anixter International Inc., +1-224-521-8601; or Investor and Media Inquiries, Chris Kettmann of Ashton Partners, +1-312-553-6716, for Anixter International Inc.
Web site: http://www.anixter.com/
Gameloft Releases Wild West Guns for WiiWare
PARIS, August 4 /PRNewswire-FirstCall/ -- Gameloft(R), a leading developer and publisher of console and mobile games, announced today the launch of Wild West Guns, a fun compilation of shooting mini-games set in a Western environment made exclusively for Nintendo's new downloadable games service: WiiWare(TM). Wild West Guns is the second Gameloft title developed just for WiiWare and is available now for 1000 Wii Points(TM).
Wild West Guns allows players to experience the Gold Rush Days where danger awaits at every corner. Players face a variety of shooting challenges that tests their accuracy and swiftness by shooting at multiple targets including objects and outlaws to earn medals, points and rewards. The title is created to complement the Wii Zapper(TM), a device combining together the Wii RemoteTM and NunchuckTM to provide an ideal grip for shooting games.
Game Features:
- A realistic shooting experience that immerses players into a wild west environment:
- Wii Zapper compatibility for more accurate shootings
- Choose to earn points by making shooting combos or exploring the rich settings to discover what objects will reward you with more points
- Play through six levels that feature three different challenges to unlock newer environments and enemies
- Choose to play alone and achieve your best score or in two-player mode and go head-to-head to find out who is the best shooter
- Mini-games that perfectly suit the Wii's casual players expectations of short-but-fun-and-challenging playing sessions
- 3D environments and lively Western music and sound effects for a truly immersive experience
Nintendo trademarks are used under license. WiiWare is available only through the Wii console.
For further information, please contact:
Anne-Laure Descleves +33-1-5816-2082, anne-laure.descleves at gameloft.com
For more information, visit http://www.gameloft.com/
Gameloft
CONTACT: Anne-Laure Descleves +33-1-5816-2082, anne-laure.descleves at gameloft.com
Nam Tai Electronics, Inc.: Q2 2008 Sales Down 26.1%, Gross Profit Margin Improves to 14.2% and EPS at 26 Cents
MACAO, China, Aug. 4 /PRNewswire-FirstCall/ -- Nam Tai Electronics, Inc. ("Nam Tai" or the "Company") today announced its unaudited results for the second quarter ended June 30, 2008.
KEY HIGHLIGHTS
(In thousands of US Dollars, except per share data, percentages and as otherwise stated)
Quarterly Results Half-Year Results
Q2 2008 Q2 2007 YoY(%) 1H2008 1H2007 YoY(%)
Net sales $146,168 $197,830 (26.1) $293,297 $389,401 (24.7)
Gross profit $20,762 $22,745 (8.7) $40,292 $39,946 0.9
% of sales 14.2% 11.5% - 13.7% 10.3% -
Operating income $8,608 $11,834 (27.3) $16,420 $19,051 (13.8)
% of sales 5.9% 6.0% - 5.6% 4.9% -
per share
(diluted) $0.19 $0.26 (26.9) $0.37 $0.43 (14.0)
Net income $11,804 $38,805 (69.6) $40,170 $47,204 (14.9)
% of sales 8.1% 19.6% - 13.7% 12.1% -
Basic earnings
per share $0.26 $0.87 (70.1) $0.90 $1.06 (15.1)
Diluted earnings
per share $0.26 $0.87 (70.1) $0.90 $1.05 (14.3)
Weighted average
number of
shares ('000')
Basic 44,804 44,804 - 44,804 44,360 -
Diluted 44,811 44,806 - 44,807 44,805 -
In addition to disclosing results determined in accordance with accounting principles generally accepted in the United States ("US GAAP") as set forth in the table above, management utilizes a measure of operating income, net income and earnings per share on a non-GAAP basis that excludes certain income and expenses to better assess operating performance. Those non-GAAP financial measures exclude certain items, such as share-based compensation expenses and infrequent or unusual items such as gain on disposal of subsidiaries' shares and gain on disposal of marketable securities. By disclosing the non-GAAP information, management intends to provide investors with additional information to analyze the Company's performance, core results and underlying trends. Non-GAAP information is not determined using US GAAP; therefore, the information is not necessarily comparable to other companies and should not be used to compare the Company's performance over different periods. Non-GAAP information should not be viewed as a substitute for, or superior to, net income or other financial data prepared in accordance with US GAAP as measures of our operating results or liquidity. Users of this financial information should consider the types of events and transactions for which adjustments have been made. See the table below for a reconciliation of non-GAAP amounts to amounts reported under US GAAP.
GAAP TO NON-GAAP RECONCILIATION
(In millions of US Dollars, except for per share (diluted) and numbers of shares)
Three months ended
June 30,
2008 2007
per share per share
millions (diluted) millions (diluted)
GAAP Operating Income $8.6 $0.19 $11.8 $0.26
Add back:
-share-based compensation
expenses(a) 0.2 0.01 0.2 0.01
Non-GAAP Operating Income $8.8 $0.20 $12.0 $0.27
GAAP Net Income $11.8 $0.26 $38.8 $0.87
Add back/(Less):
-share-based compensation
expenses(a) 0.2 0.01 0.2 0.01
-gain on sale of
subsidiaries' shares (b) - - (0.4) (0.01)
-other income recovered
from Tele-Art Inc. (in
liquidation)(c) (2.9) (0.07) - -
-gain on disposal of
marketable securities - - (28.0) (0.63)
Non-GAAP Net Income $9.1 $0.20 $10.6 $0.24
Weighted average number of
shares - diluted ('000) 44,811 44,806
Six months ended
June 30,
2008 2007
per share per share
millions (diluted) millions (diluted)
GAAP Operating Income $16.4 $0.37 $19.1 $0.42
Add back:
-share-based compensation
expenses(a) 1.2 0.03 0.3 0.01
Non-GAAP Operating Income $17.6 $0.40 $19.4 $0.43
GAAP Net Income $40.2 $0.90 $47.2 $1.06
Add back/(Less):
-share-based compensation
expenses(a) 1.2 0.03 0.3 0.01
-gain on sale of
subsidiaries' shares (b) (20.2) (0.45) (0.4) (0.01)
-other income recovered
from Tele-Art Inc. (in
liquidation)(c) (2.9) (0.07) - -
-gain on disposal of
marketable securities - - (28.0) (0.63)
Non-GAAP Net Income $18.3 $0.41 $19.1 $0.43
Weighted average number of
shares - diluted ('000) 44,807 44,805
Note:
(a) The share-based compensation expenses included approximately $0.2 million attributable to options to purchase 75,000 shares granted in the second quarter of 2008 to non-employee directors in accordance with the Company's practice of making annual option grants to its non-employee directors upon their election for the ensuing year and approximately $1.0 million principally attributable to options to purchase approximately 20 million shares granted by the Company's Hong Kong Stock Exchange- listed subsidiary, Nam Tai Electronic & Electrical Products Limited ("NTEEP")(Stock Code : 2633), to certain of its executive directors and employees in the first quarter of 2008.
(b) On March 4, 2008, Nam Tai completed the sale of its entire equity interest in J.I.C. Technology Company Limited ("JIC"), a Hong Kong Stock Exchange listed subsidiary (Stock Code: 00987), to an independent third party. In this transaction, Nam Tai sold 572,594,978 shares of JIC, representing 74.99% of its outstanding share capital for cash of approximately $51 million, which resulted in a gain on disposal of approximately $20 million.
(c) A total amount of approximately $2.9 million of other income in the Company's financial statements for the second quarter of 2008. This amount represents Nam Tai's share of proceeds realized from the disposal for the account of Tele-Art, Inc.'s liquidator of 477,319 Nam Tai shares owned by Tele-Art, Inc. (in liquidation)("Tele-Art") and was paid in settlement of amounts previously funded by Nam Tai in connection with Tele-Art's liquidation and in partial satisfaction of judgments in favor of Nam Tai against Tele-Art.
SECOND QUARTER REVIEW
The business environment in Nam Tai's product sectors remains difficult and extremely competitive. Net sales in the second quarter of 2008 were $146.2 million, a decrease of 26.1% as compared to the sales of $197.8 million in the second quarter of 2007, mainly as a consequence of the continuing decline in business from the Company's telecommunication components assembly ("TCA") segment. Net sales in the TCA segment for the second quarter of 2008 decreased by 48.0% compared to the same quarter of 2007. Our TCA segment is primarily dependent on the mobile phone market. The Company suffered another substantial drop in sales volume of its devices used in mobile phones, a trend Nam Tai began experiencing in 2007 and which has continued and accelerated as a result of declining demand experienced in the mobile phone market and persistent pressure to lower unit prices. The challenging environment in the TCA segment is expected to continue and may increase in the coming quarters. Sales of products in our liquid crystal display product ("LCDP") segment and sales from our consumer electronics and communication products ("CECP") segment also dropped by 6.1% and 3.1% respectively, during the second quarter of 2008 as compared to sales of the corresponding quarter of 2007. The decrease in sales in our LCDP segment was mainly a consequence of the drop of sales of our LCD modules products. Sales in our CECP segment were affected by a decrease in sales of mobile phone accessories of approximately 28% from comparable sales in the second quarter of 2007, offset by the increase in sales of our home entertainment devices amounting to approximately 22% from 2007 second quarter sales.
The Company's gross profit margin in the second quarter of 2008 improved by approximately 2.7 %, to 14.2% in the second quarter of 2008 compared to 11.5% in the second quarter of 2007. Management attributes this increase in gross profit margins to it's program selectivity, with strong emphasis on profitability, and the effect of efforts to improve manufacturing efficiencies. We will continue our efforts in improving manufacturing efficiencies, broadening our product offerings and diversifying our customer base which we expect will help to manage operations in the ongoing tough business environment. Gross profit in the second quarter of 2008 was $20.8 million, a decrease of 8.7% as compared to $22.7 million in the second quarter of 2007, primarily resulting from the decline in 2008 sales.
Operating income in the second quarter of 2008 was $8.6 million, or $0.19 per share (diluted), compared to operating income of $11.8 million, or $0.26 per share (diluted) in the second quarter of 2007. Net income in the second quarter of 2008 was $11.8 million, compared to net income of $38.8 million (of which, approximately $28.0 million resulted from a net gain on disposal of marketable securities) in the second quarter of 2007. Basic and diluted earnings per share in the second quarter of 2008 were $0.26 per share, compared to $0.87 in the second quarter of 2007.
For the six months ended June 30, 2008, Nam Tai's net sales were $293.3 million, a decrease of 24.7% as compared to $389.4 million in the same period last year. Gross profit was $40.3 million, an increase of 0.9% as compared to $40.0 million in the same period last year. Operating income for the first six months in 2008 decreased 13.8% to $16.4 million, or $0.37 per share (diluted), compared to $19.1 million, or $0.43 per share (diluted), in the same period last year. Net income was $40.2 million, or $0.90 per share (diluted), a decrease of 14.9% as compared to $47.2 million or $1.05 per share (diluted) in the same period last year.
The Company's financial position remains strong and net cash provided by operating activities in the second quarter was $30.8 million. The Company ended the quarter with $271.9 million cash and cash equivalents on June 30, 2008 even after capital expenditures of $5.8 million and cash dividends of $9.8 million paid to shareholders of the Company and $6.0 million paid to minority shareholders of NTEEP.
NON-GAAP FINANCIAL INFORMATION
Non-GAAP operating income for the second quarter of 2008 was $8.8 million, or $0.20 per share (diluted), compared to non-GAAP operating income of $12.0 million, or $0.27 per share (diluted), in the second quarter of 2007. Non-GAAP net income for the second quarter of 2008 decreased by 14.2% over the second quarter of 2007 to $9.1 million, or $0.20 per share (diluted), compared to $10.6 million, or $0.24 per share (diluted), in the second quarter of 2007.
Non-GAAP operating income for the first six months in 2008 was $17.6 million, or $0.40 per share (diluted), compared to non-GAAP operating income of $19.4 million, or $0.43 per share (diluted) for the same period last year. Non-GAAP net income for the first six months in 2008 was $18.3 million or $0.41 per share (diluted), a decrease of 4.2% as compared to $19.1 million, or $0.43 per share (diluted), for the same period last year.
COMPANY OUTLOOK
Recent global adverse economic conditions (which, we believe, have been primarily driven by the sub-prime crisis in the US) aggravated the Company's results in the past quarter and may exacerbate the difficult business environment we currently face and could result in negative effects to our results of operations over the next several quarters. Additionally, we also face issues such as the continuing appreciation of the exchange rate of the renminbi to the US dollar, the effects of changing tax and labor laws in the People's Republic of China ("PRC"), shortages of electricity supply and increases in overhead expenses resulting from inflation.
To respond to the challenges surfacing from the current business environment, management has continued to focus efforts to optimize operating efficiencies by realigning production capacity to higher margin product offerings and has sought to diversify Nam Tai's customer base. Management believes that Nam Tai has begun to realize limited benefits from the Company's simpler organizational structure implemented at the beginning of 2008, which management believes has fostered, and will continue to, foster a more efficient and effective exchange of know-how and technology among our group companies, reduced overhead costs and facilitated stronger management controls.
During the second quarter of 2008, the foundation of the first of the Company's planned new factories in Wuxi in the Jiangsu Province of China was completed and the Company had, according to its schedule, selected a contractor for the mechanical and electrical construction required for the expansion project. Management is optimistic that Nam Tai will be in a position to begin mass production at the new Wuxi facility in early to mid- 2009.
SUPPLEMENTARY INFORMATION (UNAUDITED) IN THE SECOND QUARTER OF 2008
1. Quarterly Sales Breakdown
(In thousands of US Dollars, except percentage information)
Quarter YoY(%)
YoY(%) (Quarterly
2008 2007 (Quarterly) accumulated)
1st Quarter 147,129 191,571 (23.2) (23.2)
2nd Quarter 146,168 197,830 (26.1) (24.7)
3rd Quarter - 204,485 - -
4th Quarter - 186,936 - -
Total 293,297 780,822
2. Breakdown of Net Sales by Product Segment (as a percentage of Total Net Sales)
2008 2007
Segments Q2 YTD Q2 YTD
(%) (%) (%) (%)
Consumer Electronic and
Communication Products 50% 49% 38% 33%
Telecommunication Component 36% 38% 51% 57%
Assembly
LCD Products 14% 13% 11% 10%
100% 100% 100% 100%
3. Key Highlights of Financial Position
As at June 30, As at December 31,
2008 2007 2007
Cash on hand (a) $271.9 million $268.3 million $272.5 million
Ratio of cash (a) to
current liabilities 2.28 1.79 1.87
Current ratio 3.29 2.74 2.83
Ratio of total assets
to total liabilities 4.37 3.61 3.70
Return on equity 23.6% 28.9% 21.5%
Ratio of total
liabilities to equity 0.34 0.45 0.45
Debtors turnover 50 days 48 days 45 days
Inventory turnover 16 days 19 days 17 days
Average payable period 56 days 58 days 56 days
Note: (a) Includes cash equivalents.
4. Claims against Tele-Art
We reported a total of approximately $2.9 million as other income in our financial statements for the second quarter of 2008. This amount represents the Company's share of proceeds realized from the sales on behalf of Tele- Art's liquidator of 477,319 Nam Tai shares for the benefit of unsecured creditors of Tele-Art and was paid to Nam Tai in settlement of amounts previously funded by Nam Tai in connection with Tele-Art's liquidation proceedings and in partial satisfaction of judgments in favor of Nam Tai against Tele-Art. Total net proceeds from sales of such 477,319 shares were approximately $4.9 million, which together with approximately $300,000 in cash dividends that had accrued on the shares prior to their sale, were, in addition to the aforementioned payment to the Company, used as follows (amounts are approximate):
-- $200,000 to satisfy claims of unsecured creditors of Tele-Art other than Nam Tai;
-- $400,000 to satisfy the claims of Tele-Art's former liquidator;
-- $600,000 in payment of professional fees and expenses, including expenses relating to the sale of the shares, incurred through June 30, 2008; and
The balance of the sale proceeds, amounting $1,100,000 at June 30, 2008, have been reserved for on-going legal and professional costs expected in connection with efforts to locate and recover additional assets of Tele-Art's liquidation estate.
5. Increase the equity interest in NTEEP
At March 31, 2008, Nam Tai owned 645,229,470 shares of Nam Tai Electronic & Electrical Products Limited ("NTEEP"), its operating subsidiary that is listed on the Hong Kong Stock Exchange (Stock Code: 2633). During the period from April 1 to June 30, 2008, the Company made open-market purchases of 11,116,000 shares of NTEEP at prices per share ranging from HK$1.47 to HK$1.53 (or approximately $0.188 to $0.196), increasing the Company's equity interest in NTEEP's outstanding share capital by 1.26%, from 73.18% to 74.44%, at June 30, 2008. From July 1 through July 25, 2008, Nam Tai made purchases of an additional 3,870,000 shares of NTEEP increasing its equity interest in NTEEP to 74.88%, which is the maximum level permitted by the Hong Kong Stock Exchange in order to allow a minimum of 25% public float pursuant to the Rules governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
SECOND QUARTER RESULTS ANALYST CONFERENCE CALL
The Company will hold a conference call on Monday, August 4, 2008 at 8:00 a.m. Eastern Time for analysts to discuss the second quarter results with Nam Tai's management. Shareholders, media, and interested investors are invited to listen to the live conference over the Internet by going to http://www.namtai.com/ and clicking on the conference call link (under events) or over the phone by dialing (612) 332-0107 just prior to its start time.
DIVIDENDS
The second quarter dividend of $0.22 per share was paid on or about July 21, 2008. The record date for the third quarter dividend of $0.22 per share is September 30, 2008 and the payment date is on or before October 21, 2008. The payment dates for the fourth quarter is scheduled to be on or before January 21, 2009.
The schedule for quarterly dividends paid and payable for fiscal year 2008 are as follows:
Quarterly Dividend
Payment Record Date Scheduled Payment Date (per share)
Q1/08 March 31, 2008 Paid on or before April 21, 2008 $0.22
Q2/08 June 30, 2008 Paid on or before July 21, 2008 $0.22
Q3/08 September 30, 2008 On or before October 21, 2008 $0.22
Q4/08 December 31, 2008 On or before January 21, 2009 $0.22
Full Year 2008 $0.88
FORWARD-LOOKING STATEMENTS AND FACTORS THAT COULD CAUSE OUR SHARE PRICE TO DECLINE
Statements in this press release, such as management's assessment of the effects of management's efforts to improve Nam Tai's profitability and profit margins, benefits expected from the Company's internal reorganization that was completed at the end of 2007 and management's estimates of when Nam Tai will be in a position to begin mass production at its new facility in Wuxi, Jiangsu Province, PRC, among other statements in this press release, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by the use of words like "believes," "intends," "expects," "plans" or "planned," "may," "will," "should" or "anticipates," or the negative equivalents of those words or comparable terminology, and involve risks and uncertainties. Such statements are based on current expectations and assumptions and reflect management's views with respect to future events and may not actually occur during the periods indicated or at all and are not a guarantee of Nam Tai's future performance. These forward-looking statements are, by their nature, subject to risks, uncertainties and other factors that could cause the actual results to differ materially from future results expressed or implied by the forward-looking statements in this press release.
Whether the effects of management's efforts to improve Nam Tai's profitability have resulted or will result in improved profitability or profit margins or overcome the perceived onset of adverse global economic conditions generally or the ongoing weakness in the mobile phone supply chain, specifically, increasing taxes and labor costs from new tax and labor legislation in the PRC, whether material additional benefits expected from the Company's internal reorganization that was completed at the end of 2007 will actually be realized, whether management's estimates of when construction of Nam Tai's new manufacturing faciliy in Wuxi, Jiangsu Province, PRC will be available for production will prove true, and whether revenues expected when production at Nam Tai's new Wuxi facility commences will materialize will depend upon future sales orders and on Nam Tai's actual ability to contain manufacturing costs and the level of capital expenditures required for each of the planned expansion projects. Product orders and Nam Tai's growth, operating income, available cash, cash flows and levels of capital expenditures may be adversely affected by numerous factors including Nam Tai's dependence on a few large customers; intense competition in the electronics industry in which the Company participates, particularly in the mobile phone market that places constant pressure on the Company to reduce unit prices; continuing competitive pressures that adversely affect its profit margins; its operating results fluctuating and lacking predictability; risks relating to its doing business in the PRC such as arising from changes in governmental policies, trade regulation, currency exchange rates, particularly from the appreciation of the renminbi to the U.S. dollar which has occurred since June 2005 and has shown no signs of abating, inflation in the PRC; the timing and amount of significant orders from customers; delays in product development and related product release schedules; obsolete inventory or product returns; warranty and other claims on products; technological shifts; the availability of competitive products of comparable quality at prices below Nam Tai's prices; maturing product life cycles of the products manufactured by Nam Tai; concessions Nam Tai may make on product sale terms and conditions; implementation of operating cost structures that align with revenue growth, if any; the financial condition of Nam Tai's customers and vendors; the availability and increasing costs of materials and other components needed to manufacture its products; potential shortages of materials or skilled labor needed for its planned expansion projects or for its existing facilities; unforeseen engineering problems, work stoppages, weather interference, flood, earthquake or other acts of God, delays in obtaining or failure to obtain necessary permits from regulatory authorities needed for completion of its expansion projects or continue existing operations, other unexpected project delays or unanticipated cost increases; risks of expanding into new areas of the PRC where Nam Tai's has not yet conducted business, diversion of management's attention to expansion and its management to new locations and to other business concerns; the impact of legislative actions, higher insurance costs and potential new accounting pronouncements; a worsening of relations between the PRC and the United States or Taiwan; the effects of terrorist activity and armed conflict such as disruptions in general economic activity and changes in Nam Tai's operations and security arrangements; the effects of travel restrictions and quarantines associated with major health problems, such as the Severe Acute Respiratory Syndrome or Bird Flu, on general economic activity; or other changes in general economic conditions, including an exacerbation of the current global economic weaknesses that continue adversely affecting, or further reduce, demand for Nam Tai's products. In addition, factors, among others, that could cause the market price of our shares to decline in the future could include further decreases in our revenues from those we reported in earlier periods, the operating results or those of our competitors or customers to meet the expectations of public market analysts and investors who follow the electronics manufacturing services, or EMS, industry, or one or more of the factors discussed in "Item 3. Key Information - Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2007 as filed on March 17, 2008 with the Securities and Exchange Commission ("SEC").
For further information regarding risks and uncertainties associated with Nam Tai's business, please refer to the "Management's Discussion and Analysis of Results of Operations and Financial Condition" and "Risk Factors" sections of Nam Tai's SEC filings, including, but not limited to, its annual reports on Form 20-F, copies of which may be obtained from Nam Tai's website at http://www.namtai.com/.
All information in this press release is as of August 1, 2008 in Macao, Special Administrative Region of the People's Republic of China. Nam Tai does not undertake any duty, and should not be expected, to update any forward- looking statement to conform the statement to actual results or changes in Nam Tai's expectations.
ABOUT NAM TAI ELECTRONICS, INC.
We are an electronics manufacturing and design services provider to a select group of the world's leading OEMs of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, RF modules, DAB modules, FPC subassemblies and image-sensor modules and PCBAs for headsets containing Bluetooth(R) wireless technology.(1) These components are used in numerous electronic products, including mobile phones, laptop computers, digital cameras, electronic toys, handheld video game devices, and entertainment devices. We also manufacture finished products, including mobile phone accessories, home entertainment products and educational products. We assist our OEM customers in the design and development of their products and furnish full turnkey manufacturing services that utilize advanced manufacturing processes and production technologies.
Nam Tai's operations are conducted by its subsidiary, Nam Tai Electronic & Electrical Products Limited ("NTEEP"), a Hong Kong Stock Exchange-listed company, in which Nam Tai owns approximately 74.88% of the outstanding share capital. In addition to reports that Nam Tai files with the SEC, which may accessed through the SEC's EDGAR database at http://www.sec.gov/, interested investors may review the website of The Stock Exchange of Hong Kong at http://www.hkex.com.hk/ to obtain information that NTEEP is required to file under applicable rules of the Hong Kong Stock Exchange. The stock code of NTEEP on The Stock Exchange of Hong Kong is 2633. Investors are reminded to exercise caution when assessing information from the Hong Kong Stock Exchange and not to deal with the shares of Nam Tai based solely upon reliance on such information.
(1) The Bluetooth(R) word mark and logos are owned by the Bluetooth SIG, Inc. and any use of such marks by Nam Tai is under license.
NAM TAI ELECTRONICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE PERIODS ENDED JUNE 30, 2008 AND 2007
(In Thousands of US Dollars except share and per share data)
Unaudited Unaudited
Three months ended Six months ended
June 30 June 30
2008 2007 2008 2007
Net sales $146,168 $197,830 $293,297 $389,401
Cost of sales 125,406 175,085 253,005 349,455
Gross profit 20,762 22,745 40,292 39,946
Costs and expenses
Selling, general and
administrative expenses 9,480 8,486 18,831 16,293
Research and development
expenses 2,674 2,425 5,041 4,602
12,154 10,911 23,872 20,895
Operating Income 8,608 11,834 16,420 19,051
Other income, net 5,101 789 6,487 323
Gain on disposal of marketable
securities - 43,815 - 43,815
Gain on sales of subsidiaries'
shares - 390 20,206 390
Interest income 1,575 2,303 3,290 4,474
Interest expense (69) (109) (143) (210)
Income before income taxes
and minority interests 15,215 59,022 46,260 67,843
Income taxes (1,242) (5,502) (1,501) (3,914)
Income before minority interests 13,973 53,520 44,759 63,929
Minority interests (2,169) (14,715) (4,589) (16,725)
Net income $11,804 $38,805 $40,170 $47,204
Earnings per share
Basic $0.26 $0.87 $0.90 $1.06
Diluted $0.26 $0.87 $0.90 $1.05
Weighted average number of
shares ('000')
Basic 44,804 44,804 44,804 44,360
Diluted 44,811 44,806 44,807 44,805
NAM TAI ELECTRONICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
AS AT JUNE 30, 2008 AND DECEMBER 31, 2007
(In Thousands of US Dollars)
Unaudited Audited
June 30 December 31
2008 2007
ASSETS (Note)
Current assets:
Cash and cash equivalents $271,854 $272,459
Accounts receivable, net 81,095 95,802
Entrusted loan receivable (Note 1) 8,166 -
Inventories 22,257 32,356
Prepaid expenses and other receivables 3,717 5,803
Income tax recoverable 3,544 5,483
Deferred tax assets - current 568 54
Total current assets 391,201 411,957
Property, plant and equipment, net 90,668 94,669
Land use right 13,742 3,930
Deposits for property, plant and equipment 1,280 536
Prepayment for land use right - 9,019
Goodwill 20,296 20,296
Deferred tax assets 3,426 3,192
Other assets 1,219 1,219
Total assets $521,832 $544,818
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Notes payable $2,571 $4,580
Long-term bank loans - current portion - 1,990
Entrusted loan payable (Note 1) 8,166 -
Accounts payable 77,700 107,326
Accrued expenses and other payables 19,534 21,690
Dividend payable 9,857 9,509
Income tax payable 1,157 556
Total current liabilities 118,985 145,651
Long-term bank loans - non-current portion - 1,558
Deferred tax liabilities 379 -
Total liabilities 119,364 147,209
Minority interests 50,919 67,428
Shareholders' equity:
Common shares 448 448
Additional paid-in capital 282,807 281,895
Retained earnings 68,302 47,846
Accumulated other comprehensive income (Note 2) (8) (8)
Total shareholders' equity 351,549 330,181
Total liabilities and shareholders' equity $521,832 $544,818
Note: Information extracted from the audited financial statements included in the 2007 Form 20-F of the Company filed with the Securities and Exchange Commission on March 17, 2008.
NAM TAI ELECTRONICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE PERIODS ENDED JUNE 30 2008 AND 2007
(In Thousands of US Dollars)
Unaudited Unaudited
Three months ended Six months ended
June 30 June 30
2008 2007 2008 2007
CASH FLOWS FROM OPERATING
ACTIVITIES
Net income $11,804 $38,805 $40,170 $47,204
Adjustments to
reconcile net income
to net cash provided
by operating activities:
Depreciation and
amortization of property,
plant and equipment and
land use right 5,616 5,289 11,311 10,313
Net (gain) loss on disposal
of property, plant and
equipment (2) 37 2 44
Dividend withheld (305) - (305) -
Gain on disposal of
marketable securities - (43,815) - (43,815)
Gain on sales of
subsidiaries' sales - (390) (20,206) (390)
Share-based compensation
expenses 158 230 1,158 317
Minority interests 2,169 14,715 4,589 16,725
Deferred income taxes 126 112 (369) (1,871)
Unrealized exchange (gain)
loss (1,066) 93 (3,771) (58)
Changes in current assets
and liabilities:
Decrease in accounts
receivable 8,717 6,802 14,556 16,009
Decrease (increase) in
inventories 6,230 (5,773) 10,099 (5,963)
Decrease (increase) in
prepaid expenses and
other receivables 545 (33) 2,005 (291)
Decrease in income taxes
recoverable 23 3,019 1,895 2,821
(Decrease) increase in
notes payable (1,288) 4,671 (2,009) 5,577
(Decrease) increase in
accounts payable (634) 3,338 (29,626) (14,678)
(Decrease) increase in
accrued expenses and
other payables (1,689) (141) (2,249) 1,732
Increase in income tax
payable 362 1,766 755 1,766
Total adjustments 18,962 (10,080) (12,165) (11,762)
Net cash provided by
operating activities $30,766 $28,725 $28,005 $35,442
CASH FLOWS FROM INVESTING
ACTIVITIES
Net cash (outflow)
inflow from disposal
of subsidiaries (104) - 6,671 -
Purchase of property,
plant and equipment (5,780) (5,672) (7,668) (7,720)
Increase in deposits for
purchase of property,
plant and equipment (1,258) (481) (949) (324)
Increase in prepayment for
purchase of land - (731) (663) (736)
Increase in entrusted loan
receivable (8,166) - (8,166) -
Acquisition of additional
shares in subsidiaries (2,030) (13,808) (2,030) (13,808)
Proceeds from disposal
of property, plant and
equipment 22 14 30 14
Proceeds from disposal of
marketable securities - 53,914 - 53,914
Proceeds from sales of
subsidiaries shares - 7,287 - 7,287
Net cash (used in) provided
by investing activities $(17,316) $40,523 $(12,775) $38,627
CASH FLOWS FROM FINANCING
ACTIVITIES
Cash dividends paid $(15,815) $(9,409) $(25,124) $(26,048)
Proceeds from entrusted
loan 8,166 - 8,166 -
Repayment of bank loans (2,225) (437) (2,648) (875)
Net cash used in
financing activities $(9,874) $(9,846) $(19,606) $(26,923)
Net increase in cash and
cash equivalents 3,576 59,402 (4,376) 47,146
Cash and cash equivalents
at beginning of period 267,212 208,979 272,459 221,084
Effect of exchange rate
changes on cash and cash
equivalents 1,066 (93) 3,771 58
Cash and cash equivalents
at end of period $271,854 $268,288 $271,854 $268,288
NAM TAI ELECTRONICS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
FOR THE PERIODS ENDED JUNE 30, 2008 AND 2007
(In Thousands of US Dollars)
1. The entrusted loan represents the loan arrangement between two subsidiaries, Namtai Electronic (Shenzhen) Co. Ltd. (the "entrusting party") and Jetup Electronic (Shenzhen) Co. Ltd. (the "borrower"), via HSBC Bank (China) Company Limited, Shenzhen Branch (the "lender").
2. Accumulated other comprehensive income represents foreign currency translation adjustments and unrealized gain on marketable securities. The comprehensive income of the Company was $40,170 and $37,124 for the six months ended June 30, 2008 and June 30, 2007, respectively.
3. Business segment information - The Company operates primarily in three segments, the Consumer Electronic and Communication Products ("CECP") segment, Telecommunication Component Assembly ("TCA") segment, and the LCD Products ("LCDP") segment.
Unaudited Unaudited
Three months ended Six months ended
June 30 June 30
2008 2007 2008 2007
NET SALES :
- CECP $73,391 $75,732 $143,178 $130,291
- TCA 51,876 99,846 111,158 220,008
- LCDP 20,901 22,252 38,961 39,102
Total net sales $146,168 $197,830 $293,297 $389,401
NET INCOME :
- CECP $7,284 $35,397 $14,942 $39,980
- TCA 2,088 3,140 4,201 7,161
- LCDP (135) 369 (98) 564
- Corporate 2,567 (101) 21,125 (501)
Total net income $11,804 $38,805 $40,170 $47,204
Unaudited Audited
June 30, Dec. 31,
2008 2007
IDENTIFIABLE ASSETS BY SEGMENT:
- CECP $216,740 $212,098
- TCA 113,769 150,963
- LCDP 69,046 64,628
- Corporate 122,277 117,129
Total assets $521,832 $544,818
4. A summary of the net sales, net income and long-lived assets by geographic areas is as follows:
Unaudited Unaudited
Three months ended Six months ended
June 30 June 30
2008 2007 2008 2007
NET SALES FROM OPERATIONS
WITHIN:
-PRC, excluding Hong Kong
and Macao:
Unaffiliated customers $146,168 $197,830 $293,297 $389,401
Intercompany sales 38 42 118 149
-Intercompany eliminations (38) (42) (118) (149)
Total net sales $146,168 $197,830 $293,297 $389,401
NET INCOME FROM OPERATIONS
WITHIN:
-PRC, excluding Hong Kong $6,377 $33,370 $11,253 $37,370
and Macao
-Hong Kong & Macao 5,427 5,435 28,917 9,834
Total net income $11,804 $38,805 $40,170 $47,204
Unaudited Audited
June 30, Dec. 31,
2008 2007
LONG-LIVED ASSETS WITHIN:
-PRC, excluding Hong Kong and Macao $104,216 $98,441
-Hong Kong and Macao 194 158
Total long-lived assets $104,410 $98,599
Nam Tai Electronics, Inc.
CONTACT: Investors, John Farina, +853-2835-6333, or Fax, +853-2835-6262, shareholder@namtai.com
Web site: http://www.namtai.com/
Texas Instruments DLP Press Invitation: Discover the Latest DLP Innovations at IFA 2008
BERLIN, August 4 /PRNewswire/ -- Texas Instruments DLP Products will be showcasing the latest
in DLP projector technology at IFA this year in Berlin. We would like to
invite you to attend the Texas Instruments stand in Hall 26, Booth 102, where
exciting innovations in products and technology await you.
Texas Instruments DLP Products will offer exclusive interviews
with DLP experts in the field of home theatre projectors, pico projection,
HDTV and DLP Cinema, as well as providing journalists with the opportunity to
discuss the following topics with us:
- The industry's first DLP home theatre lamp-free projector
- Leading 3D projectors innovated from DLP's foundation in digital
Cinema
- Stand-alone pico projector for mobile applications
- The latest and greatest projectors capable of reproducing 200
trillion colours
To arrange a briefing please contact one of the following
Weber Shandwick offices:
If you are based in the UK:
Weber Shandwick London
Lydia Curtis
LCurtis@webershandwick.com or +44-207-067-0513
All other countries:
Weber Shandwick Hamburg
Hanif Shangama
dlp@webershandwick.com or +49-40-35-74-60-15
We look forward to seeing you at IFA 2008!
Kind regards,
Hanif Shangama
DLP(R) PRESS OFFICE
c/o Weber Shandwick
Kehrwieder 10
20457 Hamburg
Germany
Tel: +49-40-35-74-60-15 /-41
Fax: +49-40-35-74-60-60
E-mail: dlp@webershandwick.com
Texas Instruments DLP
If you are based in the UK: Weber Shandwick London, Lydia Curtis, LCurtis@webershandwick.com or +44-207-067-0513. All other countries: Weber Shandwick Hamburg, Hanif Shangama, dlp@webershandwick.com or +49-40-35-74-60-15. We look forward to seeing you at IFA 2008! Kind regards, Hanif Shangama, DLP(R) Press Office, c/o Weber Shandwick, Kehrwieder 10, 20457 Hamburg, Germany, Tel: +49-40-35-74-60-15 /-41, Fax: +49-40-35-74-60-60, E-mail: dlp@webershandwick.com
[video] NetSymphony COO, Dan Ference Discusses New Product Release on WallSt.net's 3-Minute Press Show
NEW YORK, Aug. 4 /PRNewswire-FirstCall/ -- NetSymphony, a subsidiary of Datameg Corp. (BULLETIN BOARD: DTMG) , today announced that the company's Chief Operating Officer, Dan Ference, is featured in an exclusive interview on WallSt.net's 3-Minute Press Show.
The interview gives viewers an overview of the company, and the significance of the company's latest press release.
To view the clip in its entirety, visit:
http://www.tv.wallst.net/r/3-minute-press/DataMegCorp-DTMG/189/817
About Datameg Corp.:
Headquartered in Salt Lake City, Datameg Corp. is a diversified holding company with subsidiaries in the technology sector and in food packaging and other injection-molded products industries. Datameg's wholly owned subsidiaries -- Net Symphony and QoVox Corporation -- design, develop and offer network-wide fault identification, fault isolation and voice quality assurance products as well as critical, real-time network health and performance monitoring services for both providers and end users of Internet telephony -- now commonly referred to as Voice over Internet Protocol (VoIP). ComputerCtr.com, Inc. provides a wide range of technology solutions and is a strategic technology supplier to QoVox and Net Symphony. American Marketing and Sales, Inc. (d/b/a Innovative Designs) markets finished food packaging products nationwide to major supermarkets and food retailers. For more information on Datameg's subsidiaries, visit the Company's Web site at http://www.datameg.com/ir.html.
About WallStreet Direct, Inc.
WallStreet Direct, Inc. operates WallSt.net (http://www.wallst.net/), a leading source of up-to-the-minute business news, comprehensive financial tools and original multimedia content for the investment community. In addition to WallSt.net, WallStreet Direct owns and operates WallStRadio (http://radio.wallst.net/), an online hub for business podcasts from well-known business news personalities and publishers, and WallStTV (http://tv.wallst.net/), a hub for business and finance video content. We have received two hundred eighty dollars from NetSymphony for the dissemination of this press release. To read our full disclaimer, and for a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.php.
Contact:
WallStreet Direct, Inc.
800-4-WALLST
WallStreet Direct, Inc.; Datameg Corp.
CONTACT: WallStreet Direct, Inc., 1-800-4-WALLST
Web site: http://www.wallst.net/ http://www.datameg.com/ir.html
Yucheng Technologies Announces Conference Call on August 18, 2008 for Unaudited Financial Results of the Three-Month Period Ended June 30, 2008
BEIJING, Aug. 4 /Xinhua-PRNewswire-FirstCall/ -- Yucheng Technologies Limited , a leading provider of IT solutions and services to China's banking industry, today announced that it will hold its second quarter earnings conference call to discuss results for the three-month period ended June 30, 2008 on Monday, August 18, 2008 at 8:00AM EDT/ 8:00PM Beijing.
To participate, please call one of the following local access numbers ten minutes prior to the scheduled start of the call and provide the conference call identification 58449239:
1-866-519-4004 (USA)
1-800-407-1908 (Canada)
0-808-234-6646 (UK)
10-800-650-0419 (NetCom Users in China)
10-800-265-0432 (Telecom Users in China)
65-6735-7955 (Other countries)
The record of this call will be accessible and downloadable http://www.intercallapac.com/ftp/conf58449239.zip for 48 hours starting two hours after the end of the call. The record will also be accessible on Yucheng's website at http://www.yuchengtech.com/english/front/main17.jsp?path=1766%3E1770 .
About Yucheng Technologies Limited
Yucheng Technologies Limited is a leading IT service provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has more than 2,000 employees and has established an extensive network for serving its banking clients nationwide, with subsidiaries and representative offices in eighteen cities. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks including: (i) channel-related IT solutions, such as web banking and call centers; (ii) business-related processing solutions, such as core banking systems, foreign exchange and treasury management; and (iii) management-related IT solutions, such as risk analytics and business intelligence. Yucheng is also a leading third party provider of POS merchant acquiring services in partnership with banks in China.
For further information, please contact:
US:
Mr. Jim Preissler
Tel: +1-646-383-4832
Email: jpreissler@yuchengtech.com
Beijing:
Ms. Rebecca Alexander
Tel: +86-10-5913-7998
Email: investors@yuchengtech.com
Yucheng Technologies Limited
CONTACT: US, Mr. Jim Preissler, +1-646-383-4832, or jpreissler@yuchengtech.com; Beijing, Ms. Rebecca Alexander, +86-10-5913-7998, or email, investors@yuchengtech.com, both for Yucheng Technologies Limited
Yucheng Technologies Provides Leading E-Banking Solution to Bank of Ningbo
BEIJING, Aug. 4 /Xinhua-PRNewswire-FirstCall/ -- Yucheng Technologies Limited , a leading provider of IT solutions and services to China's banking industry, announced today it will provide its industry-leading e-banking solution to the Bank of Ningbo (BoN), a leading, publicly listed city commercial bank. Yucheng's e-banking platform will replace the bank's existing system and provide significantly enhanced functionalities and operating efficiencies.
Due to the growth potential and revenue opportunities, Yucheng is actively diversifying into the small and medium-sized banking (SMB) sector. SMBs typically value total solution providers en lieu of a multitude of single- product vendors. As a premium solution provider capable of servicing a wide spectrum of SMB needs, Yucheng has successfully leveraged its brand name, its proven experience and its deep IT knowledge of the banking sector in China to extend its customer base beyond top-tier banks. At present, Yucheng has already established working relationships with many leading regional and city commercial banks in China, including Bank of Beijing, Bank of Shanghai, Hangzhou City Commercial Bank, and Bank of Nanjing.
"We are pleased to have BoN as a new client," stated Weidong Hong, CEO of Yucheng. With the IPO of many leading city commercial banks, and the introduction of more strategic investors, an increasing number of SMBs have greater access to capital and are making significant investments in IT infrastructure to remain competitive. We expect the percentage of our revenue from SMBs will continue to grow, and we will be able to enjoy more favorable contract terms than those with our tier-one bank customers."
About Yucheng Technologies Limited
Yucheng Technologies Limited is a leading IT service provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has more than 2,000 employees and has established an extensive network for serving its banking clients nationwide, with subsidiaries and representative offices in eighteen cities. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks including: (i) channel- related IT solutions, such as web banking and call centers; (ii) business- related processing solutions, such as core banking systems, foreign exchange and treasury management; and (iii) management-related IT solutions, such as risk analytics and business intelligence. Yucheng is also a leading third party provider of POS merchant acquiring services in partnership with banks in China.
About Bank of Ningbo
Founded in April 1997 with registered capital of RMB 2.05 billion, BoN is among one of the best performing city commercial banks in China. As of June 30, 2008, BoN had USD13 billion in assets and operates 78 branches in Ningbo and Shanghai, two highly affluent cities in China. Listed on the Shenzhen Stock Exchange in July 2007, the Bank was awarded "The Best Chinese City Commercial Bank" by The Chinese Banker magazine in 2006 and 2007.
Safe Harbor Statement
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project" or "continue" or the negative thereof or other similar words. Such forward- looking statements, based upon the current beliefs and expectations of Yucheng's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: current dependence on the PRC banking industry demand for the products and services of Yucheng; competition from other service providers in the PRC and international consulting firms; the ability to update and expand product and service offerings; retention and hiring of qualified employees; protection of intellectual property; creating and maintaining quality product offerings; operating a business in the PRC with its changing economic and regulatory environment; and the other relevant risks detailed in Yucheng filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Yucheng assumes no obligation to update the information contained in this press release.
For further information, please contact:
US:
Mr. Jim Preissler
Tel: +1-646-383-4832
Email: jpreissler@yuchengtech.com
Beijing:
Ms. Rebecca Alexander
Tel: +1-212-202-1453 / +86-10-5913-7998
Email: investors@yuchengtech.com
Yucheng Technologies Limited
CONTACT: US, Mr. Jim Preissler, +1-646-383-4832, or jpreissler@yuchengtech.com; Beijing, Ms. Rebecca Alexander, +1-212-202-1453, or +86-10-5913-7998, or email, investors@yuchengtech.com, both for Yucheng Technologies Limited
Giant Wireless Technology Selects DSP Group's New XpandR Platform for its Digital Home Multimedia ProductsXpandR, a wireless multimedia SoC solution, to drive Giant's innovative multimedia terminals for the digital home
SAN JOSE, Calif., and HONG KONG, Aug. 4 /PRNewswire-FirstCall/ -- DSP Group, Inc. , a worldwide leader in developing and providing chipset solutions for residential wireless connectivity, and Giant Wireless Technology Ltd., a leading wireless technology creation company, announced today that Giant has selected DSP Group's XpandR platform to drive its next generation of multimedia wireless products for the residential market.
XpandR, a wireless multimedia-enabled system-on-a-chip (SoC) solution, enables unmatched quality of wireless multimedia services from a single platform. XpandR empowers a broad range of digital home applications, including HD voice, picture, music streaming and sharing, email, and web browsing. XpandR integrates Wi-Fi, DECT and a powerful application processor on a single IC.
XpandR is uniquely positioned to drive multimedia terminals, including communication tablets, wireless picture frames, Internet radios, portable multimedia players, Wi-Fi/DECT multimedia phones and fixed multimedia phones with DECT handsets.
"We see growing demand for a new generation of residential home terminals that combine voice over DECT and a variety of innovative multimedia applications over Wi-Fi. DSP Group's XpandR was selected for its broad application capabilities and its high level of integration," said C.P. Chan, General Manager (Marketing) of Giant Wireless Technology.
"We are pleased that Giant Wireless Technology, a leading manufacturer of wireless consumer electronics and a leading innovator in the field of consumer devices targeted for the digital home, chose to partner with us, having realized the unique value proposition of our XpandR platform," said Ofer Elyakim, President for South East Asia of DSP Group.
About DSP Group
DSP Group, Inc. is a fabless semiconductor company, offering advanced chipsets solutions for a variety of applications. DSP Group is a world leader in the short-range wireless communication market, enabling home networking convergence for voice, video & data. By combining its in-house technologies of Digital Signal Processors (DSP's), portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP IC's. DSP Group is a world leader and a one- stop-shop for a wide range of applications. These applications include, but are not limited to: ISM band digital 900MHz, 2.4GHz, 5.8GHz telephony, European DECT (1.9GHz) telephony, Bluetooth systems for voice, data and video communication and are deployed in residential, SOHO, SME, enterprise and automotive applications. DSP Group ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices (IAD's) and are widely used in Digital Voice Recorders (DVR's). More information about DSP Group is available at http://www.dspg.com/ .
About Giant Wireless Technology Limited
Since commencing its operations in 1988, Giant Wireless Technology has grown to become a leading wireless technology creation company skilled in design, manufacturing, marketing, distribution and brand management. Listed on the Main Board of the Singapore Exchange Securities Trading Limited on May 5, 2000, the Group has its headquarters in Hong Kong, with its three manufacturing facilities location in Shenzhen and Dongguan, PRC. To date, it has 7 Application and Development centres located in Hong Kong, Singapore, New Jersey, Vancouver, Shanghai, Shenzhen and Dongguan. Customers include global brands like Motorola, Plantronics, Cobra, Avaya, Thomson, ShoreTel and Olympia.
CONTACT:
DSP Group, Inc.
Ofer Elyakim
+852-3965-5745
ofere@dsp.co.il
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020715/SFM118LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
DSP Group, Inc.
CONTACT: Ofer Elyakim of DSP Group, Inc., +852-3965-5745, ofere@dsp.co.il
Web site: http://www.dspg.com/
CEVA, Inc. Announces Stock Repurchase Program
SAN JOSE, Calif., Aug. 4 /PRNewswire-FirstCall/ -- CEVA, Inc. ; , a leading licensor of silicon intellectual property (SIP) DSP cores and platform solutions for mobile handsets, consumer electronics and storage applications, today announced that its Board of Directors has authorized the Company to repurchase up to 1,000,000 shares of the Company's common stock, which represents approximately 5% of the currently outstanding common stock. The Company intends to use available cash to effect any stock repurchases. As of June 30, 2008, the Company had approximately 21 million fully diluted shares of common stock outstanding and $43.1 million in cash and cash equivalents. As of June 30, 2008, CEVA's cash balances and marketable securities were $86.5 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051010/CEVALOGO )
"The decision to implement a stock repurchase program reflects the confidence of both management and our board of directors in the company's continued business strength," said Gideon Wertheizer, CEO of CEVA. "We believe that the purchase of our own shares is a solid investment in the company and will add to shareholder value."
Under the board-approved repurchase program, share purchases may be made from time to time in the open market or through privately negotiated transactions depending on market conditions, share price, trading volume and other factors, and such purchases, if any, will be made in accordance with applicable insider trading and other securities laws and regulations. These repurchases may be commenced or suspended at any time or from time to time without prior notice.
About CEVA, Inc.
Headquartered in San Jose, Calif., CEVA is a leading licensor of silicon intellectual property (SIP) platform solutions and DSP cores for mobile, consumer electronics and storage applications. CEVA's IP portfolio includes comprehensive solutions for multimedia, audio, voice over packet (VoP), Bluetooth and Serial ATA (SATA), and a wide range of programmable DSP cores and subsystems with different price/performance metrics serving multiple markets. In 2007, CEVA's IP was shipped in over 225 million devices. For more information, visit http://www.ceva-dsp.com/
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051010/CEVALOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
CEVA, Inc.
CONTACT: Yaniv Arieli, CFO, +1-408-514-2941, yaniv.arieli@ceva-dsp.com, or Richard Kingston, Director of Marketing & Investor Relations, +1-408-514-2976, richard.kingston@ceva-dsp.com, both of CEVA, Inc.
Web site: http://www.ceva-dsp.com/
Scopus Enters into Term Sheet to Acquire the Business of Optibase
TEL AVIV, Israel, August 4 /PRNewswire-FirstCall/ -- Scopus Video Networks Ltd. , a provider of digital video networking products, today announced that it has entered into a non-binding Term Sheet to acquire the business of Optibase Ltd. (NASDAQ & TASE: OBAS), the Company's principal shareholder. Optibase, based in Herzliya, Israel, provides professional encoding, decoding, video server upload and streaming solutions for telecom operators, service providers, broadcasters and content creators. According to its audited financial statements, Optibase reported revenue of approximately $23 million for 2007.
Pursuant to the Term Sheet, Scopus will acquire certain assets and liabilities related to the digital video and streaming business of Optibase, in consideration for 2.6 million ordinary shares of Scopus plus an earn-out of up to 0.9 million additional shares based on the achievement of sales goals. Upon completion of the transaction, Optibase, currently a 36% shareholder of Scopus, will own approximately 46% of Scopus's outstanding ordinary shares, or 49%, if taking into account the full attainment of the additional earn-out shares.
As part of the Term Sheet, the parties agreed that all necessary corporate actions will be taken in order to amend Scopus' articles of association such that Scopus will no longer have a staggered board and Scopus shall adopt instead standard provisions regarding the appointment of directors at Scopus' general meeting by an ordinary majority and agreed on the composition of the board of directors of Scopus following the closing.
The proposed transaction is subject to the completion of due diligence, negotiation and execution of definitive agreements and the satisfaction of customary closing conditions, including approval of the respective shareholders of Scopus and Optibase. In accordance with Israeli law, the approval of the transaction by Scopus shareholders would require a special majority because it is a transaction with a principal shareholder. The transaction is expected to close in the fourth quarter of 2008. However, there is no assurance that definitive agreements providing for the transaction as contemplated by the Term Sheet will be executed or that the transaction will be consummated at such time or at all.
"The acquisition of the digital video and streaming business of Optibase is a positive step for Scopus," commented Dr. Yaron Simler, CEO of Scopus. "We have identified what we believe to be potential synergies and cost savings associated with this transaction. In addition to our current portfolio, Optibase's products extend the breadth of our offering to our customers, opening up new markets for Scopus. Finally, it should enable us to become a more prominent player in the digital video networking market."
Dr. Simler concluded, "While there are still a few major steps ahead, this is an important development that we expect will accelerate the growth of our business in 2008 and beyond."
A copy of the Term Sheet described in this press release will be included as an exhibit to the Form 6-K to be filed today by Scopus with the U.S. Securities and Exchange Commission (SEC).
About Scopus Video Networks
Scopus Video Networks develops, markets and supports digital video networking solutions that enable network operators to offer advanced video services to their subscribers. Scopus' solutions support digital television, HDTV, live event coverage and content distribution.
Scopus' comprehensive digital video networking solution offerintelligent video gateways, encoders, decoders and network management products. Scopus' solutions are designed to allow network operators to increase service revenues, improve customer retention and minimize capital and operating expenses.
Scopus' customers include satellite, cable and terrestrial operators, broadcasters and telecom service providers. Scopus' products are used by hundreds of network operators worldwide.
For more information visit: http://www.scopus.net/
FORWARD-LOOKING STATEMENTS
This press release and the letter quoted herein may include "forward-looking statements" that are not purely historical regarding our intentions, hopes, beliefs, expectations and strategies for the future. Forward-looking statements that are based on various assumptions may be identified by the use of forward-looking terminology, such as "may," "expects," "intends," "believes," "view" and similar words and phrases. Such forward-looking statements are inherently subject to known and unknown risks and uncertainties. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, (1) risks in product and technology development, (2) market acceptance of new products and continuing product demand, (3) the impact of competitive products and pricing, (4) changes in domestic and foreign economic and market conditions, (5) risks and uncertainties relating to the acquisition of Optibase's business and (6) the other risk factors set forth in our most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Except as required by law, Scopus does not undertake any obligation to update forward-looking statements made herein.
Company Contact: Investor Relations Contact
Moshe Eisenberg Ehud Helft / Kenny Green
Chief Financial Officer GK Investor Relations
Tel: +972-3-900 7100 Tel: (US) +1-646-201-9246
Moshee@scopus.net info@gkir.com
Scopus Video Networks Ltd
CONTACT: Company Contact: Moshe Eisenberg, Chief Financial Officer, Tel: +972-3-900-7100, Moshee@scopus.net; Investor Relations Contac: Ehud Helft / Kenny Green, GK Investor Relations, Tel: (US) +1-646-201-924, info@gkir.com
MIPS Technologies to Hold Fourth Quarter and Fiscal 2008 Earnings Call August 13, 2008
MOUNTAIN VIEW, Calif., Aug. 4 /PRNewswire-FirstCall/ -- MIPS Technologies, Inc., , a leading provider of industry-standard architectures, processors and analog IP for digital consumer, home networking, wireless, communications and business applications, will hold its fourth quarter and fiscal 2008 earnings conference call on Wednesday, August 13, 2008 at 1:45 p.m. Pacific time / 4:45 p.m. Eastern time.
MIPS Technologies invites you to listen to management's discussion of Q4 and fiscal 2008 results, as well as guidance for Q1 fiscal 2009 in a live conference call. The conference call number is 210-839-8502 and the replay number is 402-998-1520. The replay will be available for 30 days shortly following the end of the conference call. The password for both calls is MIPS. An audio replay of the conference call will be posted on the company's website at http://www.mips.com/company/investor-relations/ soon thereafter.
About MIPS Technologies, Inc.
MIPS Technologies, Inc. is the world's second largest semiconductor design IP company and the number one analog IP company worldwide. With more than 250 customers around the globe, MIPS Technologies is the only company that provides a combined portfolio of processors, analog IP and software tools for the embedded market. The company powers some of the world's most popular products for the digital entertainment, home networking, wireless, and portable media markets-including broadband devices from Linksys, DTVs and digital consumer devices from Sony, DVD recordable devices from Pioneer, digital set-top boxes from Motorola, network routers from Cisco, 32-bit microcontrollers from Microchip Technology and laser printers from Hewlett-Packard. Founded in 1998, MIPS Technologies is headquartered in Mountain View, California, with offices worldwide. For more information, contact (650) 567-5000 or visit http://www.mips.com/.
MIPS is a trademark or registered trademark of MIPS Technologies, Inc. in the United States and other countries.
MIPS Technologies, Inc.
CONTACT: Jen Bernier, +1-650-567-5178, jenb@mips.com, or Investors, Mark Tyndall, +1-650-567-5100, ir@mips.com, both of MIPS Technologies, Inc.
Web site: http://www.mips.com/
EchoStar Reports Second Quarter 2008 Financial Results
ENGLEWOOD, Colo., Aug. 4 /PRNewswire-FirstCall/ -- EchoStar Corporation today reported total revenue of $483 million for the quarter ended June 30, 2008, a 46.2 percent increase compared with $331 million for the corresponding period in 2007.
EchoStar reported net income of $48 million for the quarter ended June 30, 2008, compared with net losses of $15 million during the corresponding period in 2007. Basic earnings per share were $0.53 for the quarter ended June 30, 2008, compared with a basic loss per share of $0.16 during the corresponding period in 2007.
Detailed financial data and other information are available in EchoStar's Form 10-Q for the quarterly period ended June 30, 2008, filed today with the Securities and Exchange Commission.
About EchoStar Corporation
EchoStar Corporation operates two primary businesses: equipment sales and digital broadcast operations and satellite services. The equipment sales and digital broadcast operations business includes the Sling Media business; designs, develops and distributes set-top boxes and related products for direct-to-home satellite television service providers; and includes a network of seven full-service digital broadcast centers and leased fiber optic capacity with points of presence in approximately 150 cities. The satellite services business provides service on nine owned and leased in-orbit satellites and includes related FCC licenses. Visit http://www.echostar.com/ for more information.
EchoStar will host its Second Quarter 2008 earnings conference call today at 1 p.m. ET. The dial-in number is (877) 500-5931.
EchoStar Corporation
CONTACT: Press, Kathie Gonzalez, +1-720-514-5351, press@echostar.com, or Investor Relations, Jason Kiser, +1-303-723-2210, Jason.Kiser@echostar.com, both of EchoStar Corporation
Web site: http://www.echostar.com/
DISH Network(R) Reports Second Quarter 2008 Financial Results
ENGLEWOOD, Colo., Aug. 4 /PRNewswire-FirstCall/ -- DISH Network Corporation today reported total revenue of $2.91 billion for the quarter ended June 30, 2008, a 5.6 percent increase compared with $2.76 billion for the corresponding period in 2007.
Net income totaled $336 million for the quarter ended June 30, 2008, compared with $224 million during the corresponding period in 2007. Basic earnings per share were $0.75 for the quarter ended June 30, 2008, compared with basic earnings per share of $0.50 during the corresponding period in 2007.
DISH Network lost approximately 25,000 net subscribers during the quarter ended June 30, 2008, ending the quarter with approximately 13.79 million subscribers.
Detailed financial data and other information are available in DISH Network's Form 10-Q for the quarterly period ended June 30, 2008, filed today with the Securities and Exchange Commission.
About DISH Network Corporation
DISH Network Corporation , the nation's third largest pay-TV provider and the leader in digital television, provides approximately 13.79 million satellite TV customers with industry-leading customer satisfaction which has surpassed major cable TV providers for eight consecutive years. DISH Network also provides customers with award-winning HD and DVR technology including the ViP722(TM) HD DVR, which received the Editors' Choice awards from both CNET and PC Magazine. In addition, subscribers enjoy access to hundreds of video and audio channels, the most International channels in the U.S., industry-leading Interactive TV applications, Latino programming, and the best sports and movies in HD. DISH Network offers a variety of package and price options including the lowest all-digital price in America, the DishDVR Advantage Package, high-speed Internet service, and a free upgrade to the best HD DVR in the industry. DISH Network is included in the Nasdaq-100 Index (NDX) and is a Fortune 300 company. Visit http://www.dishnetwork.com/aboutus or call 1-800-333-DISH (3474) for more information.
DISH Network will host its Second Quarter 2008 earnings conference call today at noon ET. The dial-in number is (800) 616-6729.
DISH Network Corporation
CONTACT: Press, Kathie Gonzalez, +1-720-514-5351, press@echostar.com, or Investor Relations, Jason Kiser, +1-303-723-2210, Jason.Kiser@echostar.com
Web site: http://www.dishnetwork.com/
KPN Deploys Amdocs OSS for the Fulfillment of Broadband Services
ST. LOUIS, Aug. 4 /PRNewswire-FirstCall/ -- Amdocs , the leading provider of customer experience systems, today announced that KPN, the largest service provider in the Netherlands, has deployed Amdocs Operations Support Systems (OSS) for the fulfillment of its broadband services.
KPN is a longstanding Amdocs OSS customer and has deployed several products from the Amdocs Cramer OSS Suite. To accelerate the roll out of its residential broadband services, KPN has deployed Amdocs Automation and Activation Packs. These Packs have enabled KPN to productize the business processes associated with the broadband component of its triple-play roll out to decrease time to market for deploying new broadband elements and reduce on-going operational costs.
KPN can now automate the service fulfillment process which will be used to deliver the large number of broadband orders it receives every hour. Additionally, the Packs support specific network devices such as IP DSLAMs (Internet Protocol Digital Subscriber Line Access Multiplexer) to deliver faster broadband connections to customers.
"KPN understands the need to further simplify and consolidate fulfillment and service processes. To achieve this, we needed a single centralised architecture and Amdocs OSS fulfillment solutions play an important role in the roadmap towards that simplified and consolidated architecture," said John Quist, vice president of All-IP at KPN. "Amdocs pre-integrated solution for broadband fulfillment offers a great advantage for faster and more accurate service deployment, and the Broadband Automation Pack provided more than 85 percent of the required broadband process functionality out of the box. Amdocs continues to develop products that combine process automation and industry standards for 'right first time' service activation. These new solutions for activation and fulfillment will support our growing volume of orders and provide a foundation for future growth of our broadband business."
"KPN is one of the world's leading service providers that continue to work with Amdocs to design and deploy strategic OSS transformation initiatives," said Charles Born, vice president of corporate communications for Amdocs. "As service providers build and deploy new next generation networks, they need integrated OSS that can automate processes that span the customer order through to activation on the network. This automation reduces the long-term cost of ownership of the OSS and helps deliver a high-quality customer experience."
About Amdocs Customer Experience Systems
Amdocs Customer Experience Systems (CES), introduced in January 2008, is an integrated portfolio that delivers the operating environment service providers need to transform from providers of utility voice, data and video services into purveyors of the digital lifestyle. Amdocs CES allows providers to deliver an optimal customer experience-personalized, participatory and timely across any service, location and device. The Amdocs CES portfolio leverages Amdocs business process best practices based on real-world scenarios, and transcends traditional business support systems (BSS), operations support systems (OSS) and service delivery platforms (SDPs) to enable service providers to address both current and emerging customer experience business processes. Amdocs' unique business model focuses on enabling its customers to create differentiation and build brand, loyalty, profitability and competitive leadership.
About Amdocs
Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and intentional customer experience(TM) at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $2.84 billion in fiscal 2007, Amdocs has more than 17,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at http://www.amdocs.com/ .
Amdocs Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs' ability to grow in the business segments it serves, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future, however the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2007, filed on December 3, 2007, and in our quarterly 6-K furnished on February 11 and May 6, 2008.
Amdocs
CONTACT: Garland Harwood of Weber Shandwick, +1-212-445-8373, gharwood@webershandwick.com, for Amdocs
Web site: http://www.amdocs.com/
Ralink Announces Industry's First Single Chip 802.11n 1x1 PCIe Solution
Wi-Fi Provider Rolls Out Complete Line of PCIe and USB Single Chips
HSINCHU, Taiwan, Aug. 4 /Xinhua-PRNewswire-FirstCall/ -- Ralink Technology Corporation , a leading developer of 802.11x chips, announced today a complete line of single chip USB and PCIe solutions, including the RT3090, the industry's first single chip 802.11n 1x1 PCIe solution. The RT3090 (1T1R)/RT3091 (1T2R)/RT3092 (2T2R) enable the latest Wi-Fi technology in PC/notebook devices with PCIe interfaces and theRT3070 (1T1R)/ RT3071 (1T2R)/RT3072 (2T2R) are the industry's smallest 802.11n USB single chips for PCs and embedded devices. Both product families aim to deliver the high- performance of 802.11n at optimized price points, for notebook platforms, USB dongles and embedded devices.
The RT309X series integrates a CMOS RF Front end, MAC, Baseband and PCIe interface into a single-chip. It fully complies with IEEE 802.11n draft 4.0 and IEEE 802.11b/g, featuring rich wireless connectivity at high speed, delivering reliable throughput from an extended distance. Ralink's optimized RF architecture and patented baseband algorithms provide superb performance with low power consumption.
"The new RT3090 is the first 1x1 802.11n single chip PCIe solution in the industry, catapulting Wi-Fi performance from 802.11g to 802.11n with minimum cost impact" said Kenny Chiu, Vice President of the World Wide Business Development department. "The RT309X series is designed for high performance and low power to address all segments of the thriving notebook industry, from the entry level or ultra mobile PC to the high end gaming machine. With these solutions, all end customers will be able to enjoy the enhanced throughput delivered by 802.11n technology."
The RT3071 (1T2R) and RT3072 (2T2R) are the industry's leading 802.11n USB single chip solutions with tiny 9mm x 9mm QFN 76-pin packages. The technology packed, all CMOS, low power designs are ideal for the next generation of consumer electronics, Wireless broadband gateways and PC WLAN solutions.
"Ralink extends its leadership as a provider of 802.11 USB solutions with the introduction of the RT307X, the world's smallest 802.11n single chip solutions" says Chiu. "The USB client is the highest volume 802.11 adapter in the market, and these chips enable our customers to build USB clients with a reduced RBOM, and at nearly half the size. Furthermore these solutions are a popular choice when embedding Wi-Fi into broadband devices due to the ubiquity of the USB interface on embedded and network processors."
Both the RT309X and RT307X single-chip solutions offer security with WPA(TM), WPA2(TM), Wi-Fi Protected Set-Up(TM) and QoS (802.11e and WMM) which present a rich feature set to support secure voice, video and data. The reference design kit provides complete turnkey Wi-Fi solutions, including software driver support for Microsoft Windows Vista, XP, 2K, Mac OS X and Linux.
About Ralink
Ralink Technology Corporation is a leading innovator and developer of wireless LAN chipset solutions. Ralink 802.11x chipsets are recognized for superior throughput, extended range and the consistent reliability demanded by Wi-Fi, mobile and embedded applications. These feature-rich chipsets have a high level of chip integration for client and AP solutions for CB, miniPCI, PCIe and USB interfaces, enabling customers to build smaller and more sophisticated mobile wireless products cost-effectively. Ralink's patented MIMObility(TM) technology extends Wi-Fi applications from traditional PC networking to a range of digital multimedia and handheld devices including cell phones, PDAs, cameras, HDTV and video game consoles. Ralink Technology Corporation's headquarters are in Hsinchu, Taiwan, with an R&D center in Cupertino, California. For more information, visit Ralink at http://www.ralinktech.com/ or send email to info@ralinktech.com .
Media Contact:
Vivien Huang
Ralink Technology Corporation
Tel: +886-3-5600868 ext. 1605
Ralink Technology Corporation
CONTACT: Vivien Huang of Ralink Technology, +886-3-5600868 ext. 1605
Web site: http://www.ralinktech.com/
Etelcharge Retains TransMedia Group to Publicize New Way to Pay OnlineMedia Campaign to Target Some 70 Million Consumers Without Credit Cards
BOCA RATON, Fla., Aug. 4 /PRNewswire/ -- Etelcharge.com (OTC Bulletin Board: ETLC), the leader in proprietary payment technologies that is opening a vast new market for online merchants, has retained TransMedia Group for public relations. (http://www.transmediagroup.com/)
For shoppers without credit cards, banking relationships or who wish to keep personal information off the Internet, the company provides a way to charge home phone accounts for purchases made online through http://www.etelcharge.com/ .
TransMedia Group will kick off a national media campaign centered on a definitive agreement the company has signed to acquire PaymentOne, which has billed over $2.5 billion in client transactions through telco billing.
"Our publicity will explain that with the acquisition, Etelcharge.com gets a mature company whose estimated annual revenue of $13 million will establish a significant revenue base for Etelcharge," said Glen Calder, TransMedia's President. "We're excited to represent a company with an amazing concept and under the strong leadership of Rob Howe as CEO, who has over 20 years of experience running high tech and consumer electronics businesses."
Prior to joining Etelcharge.com, Howe was President of CompUSA PC, Sr. VP of Dell North America, where he ran Dell Direct and the Dell Sales, Marketing and Service Organizations. He has also held executive positions with AT&T-GIS, IBM and NEC/Packard Bell Computer Systems. Howe is credited with having invented the "virtual logistics" model which is the standard for online retailing today and has brought numerous successful breakthrough products to market including the first PC with telecommunications built in.
"We are confident that we have the right PR firm to represent a company emerging as rapidly as Etelcharge, which will soon dominate an emerging market comprising an estimated 25 million households in America who want to shop online, but lack the traditional means to do so until our proprietary payment technology made it possible," said Rob Howe, Chairman and CEO of Etelcharge.
"We expect TransMedia, with its vast experience in promoting telecom and technology, will best promote our brand as the most versatile and powerful bill-through-phone-bill platform in the U.S., but also include new features like Etelcharge Version 3.0's Electronic Online Gift Cards and Social Networking with this Payment One acquisition."
TransMedia Group
CONTACT: Glen Calder, TransMedia Group, +1-561-750-9800 x 216
Web site: http://www.transmediagroup.com/ http://www.etelcharge.com/
Company News On-Call: http://www.prnewswire.com/comp/133897.html
Spansion Announces Plans to Support New OMTP Handset Security Requirements for Safer Mobile Transactions
SUNNYVALE, Calif., Aug. 4 /PRNewswire-FirstCall/ -- Spansion Inc. , the world's largest pure-play provider of Flash memory solutions, today announced plans to support Open Mobile Terminal Platform's (OMTP) newly released handset security standards that are designed to meet the growing demands for trusted mobile transactions and handling sensitive data.
"The pace of innovation in the world of portable and affordable consumer devices is creating strong demand from manufacturers for more secure storage memory," said Marco Roveda, vice president of Marketing in the Security and Advanced Technology Division (SATD) at Spansion. "Spansion's roadmap includes security solutions designed to meet the recently announced OMTP standards to bring added value to our customers."
The OMTP recommendations are published in "Advanced Trusted Environment" (TR1) (http://www.omtp.org/Publications.aspx), a new document focusing on security requirements that will enable new trusted services. TR1 presents security recommendations that will allow a device to provide better protection for new mobile payment solutions and trusted services, such as mobile TV.
"The new TR1 recommendations come at a time when analysts are predicting that mobile payments and banking will soar," said Tim Raby, Managing Director at OMTP. "By embracing the OMTP requirements, Spansion can provide much of the enhanced security network operators around the world are asking for, while creating greater confidence in and wider adoption of mobile payment services."
Spansion supports the OMTP recommendations and plans to have its security controllers undergo compliance efforts in 2009. Memory controllers take valid commands and allow memory to be written to, read from, or set into. A security controller adds another level of protection to the memory by allowing only authorized users access to specific data from the memory.
Supporting the new security standards will allow consumers to store and access their favorite personal data, pictures, music, audio-books and videos on a broad range of portable devices more securely.
About Spansion
Spansion is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing and selling Flash memory solutions. For more information, visit http://www.spansion.com/.
About OMTP
OMTP is a forum funded by companies from across the mobile phone value chain, set up with the aim of gathering and driving mobile terminal requirements to ensure consistent and secure implementations, thereby reducing fragmentation and simplifying the customer experience of mobile data services across mobile terminals. OMTP is backed by many of the largest mobile operators and has members from hardware and software vendors across the value chain. OMTP recommendations benefit carriers, content providers, middleware vendors and handset manufacturers to develop open and compatible mobile devices. For more information, visit http://www.omtp.org/.
Cautionary Statement
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Introduction of a new technology carries both technical and market acceptance risk. Investors are cautioned that the forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from the company's current expectations. The company urges investors to review in detail the risks and uncertainties in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2007. The company assumes no obligation to update any forward-looking statements or information included in this press release.
Spansion(R), the Spansion logo, MirrorBit(R), MirrorBit(R) Eclipse(TM), ORNAND(TM), ORNAND2(TM), HD-SIM(TM), Spansion(R) EcoRAM(TM) and combinations thereof, are trademarks of Spansion LLC in the U.S. and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.
Spansion Inc.
CONTACT: EMEA, Anne Decours, +33 1 74 22 07 92, or US, Holly Burkhart, +1-408-616-1170, both of Spansion Inc.
Web site: http://www.spansion.com/ http://www.omtp.org/
Stronger, Better, Faster - Orange Improves 3G Network Performance in North East England, Northern Ireland and Scotland
LONDON, August 4 /PRNewswire/ --
- Major Future Proof Network Investment in the Regions
- Improved 3G Voice and Data Coverage
Orange today announced it will be transforming its 3G network
across Scotland, Northern Ireland and North-East England. The improved 3G
network infrastructure will bring faster and even more reliable voice and
data services to the different locations.
The enhanced network in Scotland, Northern Ireland and
North-East England will enable Orange customers, living, working or
travelling across these areas to experience faster 3G data service. Further
enhancements include:
- More reliable combined voice and data service
- 99% call set-up success rate
- Faster variant of 3G/HSDPA will be rolled out and will support mobile
broadband in the very near future
The Orange 3G network includes cities and towns, as well as
major roads, rail routes, business parks, conference centres, hotels and
airports. 3G access is really important to Orange and its customers as more
and more people rely on both voice and data communications while out and
about for work or pleasure.
"A robust and reliable network is at the heart of everything
we do at Orange and we are dedicated to ensuring our customers in each and
every region of the UK feel the benefit of this. We are investing heavily to
improve our network and this investment is one step closer to our goal of
becoming the best UK network for coverage and reliability by 2009," said
Peter Marsden, vice president IT & Networks.
Orange 2G/3G and HSDPA network need to knows:
- Orange has the largest integrated 3G/2.5G network in the UK covering
99% of the UK population
- Orange invests over GBP1million every working day to develop the
network
- Orange will be installing over 450 new 2G and 3G sites over the next 12
months to ensure customers can make calls, send texts and access mobile
broadband
- Orange is working towards its 3G/HSDPA network speed targets of up to
7.2Mbps in the top 30 UK cities; 2Mbps for 80% of entire UK population
and will start rolling out a staggering 14.4Mbps by the end of 2009
While the 3G network improvement takes place any vital
downtime in each of the regions will be fully communicated to all customers
well in advance. The 2G network will still be available throughout the
process and the changes will have limited affect on 2G access or voice calls.
Orange network engineers will be hard at work to ensure there is minimum
disruption to customers and once complete, customers will not have to do a
thing apart from enjoy an even better 3G service from Orange.
About Orange
Orange is a key brand of the France Telecom Group, providing mobile,
broadband, fixed, business and entertainment services across Europe. It is
one of the world's leading telecommunications operators with more than 170
million customers on five continents.
In June, 2006, Orange became the single brand for mobile, broadband and
multi-play offers. In addition, Orange Business Services became the new
banner for business communications solutions. Orange Business Services is
present in 166 countries with network reach in 220.
In the UK, Orange provides high quality GSM coverage to 99% of the UK
population. At the end of December 2007, Orange had over 16.8 million
customers in the UK - 15.6 million active mobile customers and nearly 1.14
million broadband customers.
Orange and any other Orange product or service names included in this
material are trade marks of Orange Personal Communications Services Limited.
Further information about Orange and France Telecom can be found on the
Orange website at www.orange.co.uk or the France Telecom website at
http://www.francetelecom.com
LONDON, August 4 /PRNewswire/ --
Orange Business Services
For further information, call the Orange press office on +44(0)870-373-1500 or email: orangepr@golinharris.com
Telepath Collaborated with Infineon and SMIC to Successfully Enable Diverse Mobile TV Devices for the 2008 Summer Olympic Games
BEIJING, Aug. 4 /Xinhua-PRNewswire/ -- Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981), the leading integrated silicon-manufacturing foundry in China, today announced that Telepath Technologies Co., Ltd. a fabless IC company that provides solutions based on the China Multimedia Mobile Broadcasting (CMMB) standard, successfully integrated its demodulator chip, TP3001, in a majority of mobile TV phones distributed at the 2008 Beijing Olympics.
(Logo: http://www.xprn.com/xprn/sa/200611101605.jpg )
The TP3001 enables on-the-go digital television reception for universal multimedia broadcasting on mobile handhelds, personal media players, and other portable electronic devices. The mobile TV phones distributed at the Olympics can receive seven TV channels, including CCTV and the Olympics Channel, with a clear picture and excellent signal. It integrates both China's 3G standard, Time Division-Synchronous Code Division Multiple Access (TD-SCDMA), and CMMB, into the same product.
The development of the TP3001 was a joint effort between Telepath, Infineon Technologies, and SMIC. Telepath created the system level designs and front end circuit model, Infineon ADS -- Infineon's ASIC and Data Security division -- supplied ASIC services, and SMIC provided the 0.13um CMOS process and silicon foundry services for prototypes and turnkey mass production, as well as a commitment to volume production support. This three-company technical and business collaboration model, dubbed "Collaborative Innovation," was a complete IP-Design-Fab innovation chain that enabled the product realization of China-controlled intellectual property, greatly lowered the barriers of commercialization, and sped up time to market, allowing for a timely entry during the 2008 Olympic Games. The relationship also provides a foundation for potential future projects.
"The wide adoption of TP3001 by so many terminal vendors within a short time span speaks volumes on the successful commercialization of the product, and we thank our strategic partners SMIC and Infineon for their support throughout the process," said Ms. Kathy Li, CEO of Telepath. "As the leading chipset provider, Telepath is proud to contribute to the launching of the domestically developed CMMB mobile TV network for the 2008 Beijing Olympic Games. In anticipation of the significant ramp up of the CMMB industry, Telepath will be introducing a series of new products with more advanced features. Together with SMIC, we are committed to providing the best chipset solutions for all CMMB mobile device vendors."
"We believe in the Collaborative Innovation model for the China market," said Mr. Vince Wang, Director of Infineon's ASIC Design and Security division in China. "SMIC's support was indispensable to the timely launch and rapid mass production of the CMMB demodulator IC. We expect continual commitment from SMIC to the pending ramp up as well as future product migrations, to ensure our customer's sustained competitiveness. We will continue to keep Infineon strategically positioned in China's market and supply chain."
"SMIC congratulates Telepath for its achievement and for the success of CMMB, a home-grown Chinese satellite TV innovation created under the leadership of many government and industry organizations," said Dr. Richard Chang, President and CEO of SMIC. "The mass production of the CMMB demodulator chip and the successful commercial launch of mobile TVs and handsets during a highly visible event such as the Olympics showcases the significant role that Chinese innovations can play in creating technology solutions for China and provides the international community an opportunity to consider adoption. Chinese solutions such as the TP3001 are the product of leadership and cooperation, and SMIC is proud to have been involved in and supporting this project since day one. By enabling its success, SMIC demonstrates its continued support for Chinese innovation and the development of China- controlled intellectual property and standards."
About SMIC
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) manufacturing service at 0.35um to 65nm and finer line technologies. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) under pilot production and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, and an in-house assembly and testing facility in Chengdu. SMIC also has customer service and marketing offices in the U.S., Europe, and Japan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 200mm wafer fab in Chengdu owned by Cension Semiconductor Manufacturing Corporation and a 300mm wafer fab under construction in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation. For more information, please visit http://www.smics.com/
For press contact inquiries:
Reiko Chang
SMIC Corporate Relations
Tel: +86-21-50802000 x10544
Email: Reiko_Chang@smics.com
Semiconductor Manufacturing International Corporation
CONTACT: Reiko Chang of SMIC Corporate Relations, +86-21-50802000 x10544, or Reiko_Chang@smics.com
Web site: http://www.smics.com/
Encore Payment Systems (U.S.) Secures Remote Access With DIGIPASS GO 3 and VACMAN MiddlewareEnhanced security driven by PCI DSS (Payment Card Industry Data Security Standard)
OAKBROOK TERRACE, Ill. and ZURICH, Switzerland, Aug. 4
/PRNewswire-FirstCall/ -- VASCO Data Security International, Inc. (http://www.vasco.com/), a leading software security company specializing in authentication products, and Encore Payment Systems, an electronic payments processing provider (http://www.encoreps.com/), today jointly announced that Encore Payment Systems will use VASCO's DIGIPASS G0 3 and VACMAN Middleware to provide secure remote access to its critical data.
Encore Payment Systems, based in Addison (TX) provides custom credit card processing and merchant solutions to retail, restaurants, lodging, mail order, telephone order and e-commerce businesses. Their merchant services include credit card processing, debit card processing, EBT (Electronics Benefits Transfer) card processing, gift and loyalty card programs, electronic check conversion and guarantee and e-commerce.
Encore Payment Systems implemented VASCO's market leading two-factor authentication solution to secure their VPN connection that the company utilizes to gain access to mission-critical data such as merchant and business partners' contact information and employee records.
PCI DSS (the Payment Card Industry Data Security Standard), that ensures security of the cardholder data whenever it's stored, processed or transmitted, served as a driving force for implementing VASCO's strong authentication solution at Encore. Among other measures, the PCI DDS calls for two-factor authentication for remote access to the network by employees, administrators and third parties accessing cardholder data. In order to meet this PCI compliance requirement, Encore Payment Systems turned to VASCO.
"We will be using the VASCO solution to enable secure 24/7 remote support of our enterprise-based applications," said John Crouch, Chief Information Officer at Encore Payment Systems. "These systems are essential to the operation of our sales force, support of our merchants, and prospective customers. We are always looking for ways to increase the level of support for our customers with an emphasis on security. VASCO's two-factor authentication solution was a perfect match that enabled us to do just that."
"We are glad that Encore Payment Systems chose VASCO to secure their credit card processing and merchant solutions," said Jan Valcke, VASCO's President and COO. "VASCO offers a secure and flexible authentication solution and provides user-friendly password management, helping companies achieve compliance with PCI's requirements."
About Encore Payment Systems:
Encore Payment Systems was established for the purpose of providing electronic payment processing solutions and other value-added services to small and medium-sized retail merchants throughout the United States. Encore is a leader in the electronic payment processing field providing credit card, debit card, ATM card, gift card, prepaid card, EBT and check processing services.
With over seventy years of combined experience in the electronic transaction processing industry, Encore's management team set forth a goal of creating a company with a sincere dedication to superior customer service and an honest and ethical approach to acquiring new customers. This vision has enabled Encore to become one of the fastest growing companies in the industry excelling in all aspects of merchant services.
Encore Payment Systems is located at 3801 Arapaho, Addison, Texas 75001. Visit Encore on the web at http://www.encoreps.com/.
About VASCO:
VASCO is a leading supplier of strong authentication and e-signature solutions and services specializing in Internet Security applications and transactions. VASCO has positioned itself as a global software company for Internet Security serving a customer base of close to 7,600 companies in more than 100 countries, including more than 1150 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," "expects," and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
Reference is made to the Company's public filings with the US Securities and Exchange Commission for further information regarding the Company and its operations.
For more information contact:
VASCO: Jochem Binst, +32 2 609 97 00, jbinst@vasco.com
Encore: Jessica Bryant, 214-442-1700.
VASCO Data Security International, Inc.
CONTACT: Jochem Binst of VASCO Data Security International, Inc., +32 2 609 97 00, jbinst@vasco.com; or Jessica Bryant of Encore Payment Systems, +1-214-442-1700
Web site: http://www.vasco.com/ http://www.encoreps.com/
Washington State's Edmonds Community College Selects Autonomy's Business Process Management SolutionLiquidOffice Solution to Streamline Approvals and Reduce Processing Costs for Complex Personnel Action Forms
CAMBRIDGE, England and SAN FRANCISCO, August 4 /PRNewswire-FirstCall/ -- Autonomy Corporation plc , a global leader in infrastructure software for the enterprise, today announced that Edmonds Community College (the College) has selected Cardiff's Business Process Management solution to enhance its administration's efficiency and improve employees' productivity. LiquidOffice will enable the College to effectively create, deploy, route, approve and manage thousands of digital forms each year. Edmonds Community College, one of the 34 colleges that comprise the Washington State Community and Technical College System, serves about 19,000 students per year.
The LiquidOffice solution will initially be used by the College to streamline and automate the processing of thousands of forms, such as the "Personal Action Forms" (PAFs), that are typically initiated by Human Resources to process a number of activities, including cost of living adjustment and salary increases. The College estimates that approximately 5,000 to 10,000 PAFs are processed each year and these forms must be routed to multiple departments for approval. PAFs also contain sensitive information, including employees' Social Security numbers; as a result, securely routing the forms at each step in a business process is a priority for the College. Moving forward, the College's staff will be able to electronically fill out HR-related forms and intelligently route them throughout the organization. Consequently, delays inherent in paper-based processes will be eliminated, and authorized users will have access to valuable "in-flight" process reporting to track the status of a particular business process, allowing instant accountability to be achieved.
"Previously, all of our administrative information was managed using paper-based processes that were labor intensive and prone to error," said Victor Portolese, manager, Application Development Services at Edmonds Community College. "We required a solution that would reduce the time and costs associated with the management of forms while also integrating easily with our existing system framework. The LiquidOffice solution provides us with out-of-the-box robust capabilities that can be rapidly tailored and deployed by our staff with little to no programming. With Autonomy Cardiff, we will be able to automate and streamline our HR-related business processes that have historically been paper based, helping to decrease the time it takes to process our digital forms, while increasing our employees' productivity."
"Administrative processes within colleges and universities can be very complex and time-consuming, involving a significant number of staff members and processes in the approval process," said Mark Seamans, Autonomy Cardiff's CEO. "Automating these types of processes - where approvers may be geographically distributed across a large campus or regional environments - is an area of strength for our Business Process Automation solution. We are pleased to help Edmonds Community College improve its employees' productivity by eliminating manual data entry and providing immediate access to data and forms from within a unified online portal environment. The solution will undoubtedly deliver process acceleration and hard cost savings immediately."
The Cardiff Intelligent Document suite automates all aspects of both paper-based and Web-based document-centric business processes. It delivers significant cost reduction, accelerated processes and an improved customer experience by taking formerly static documents and enabling them to 'process themselves' through the introduction of embedded intelligence. For more information on the LiquidOffice solution, please visit http://www.cardiff.com/products/liquidoffice/index.html.
About Autonomy
Autonomy Corporation plc is a global leader in infrastructure software for the enterprise and is spearheading the meaning-based computing movement. Autonomy's technology allows computers to harness the full richness of human information, forming a conceptual and contextual understanding of any piece of electronic data including unstructured information, be it text, email, voice or video. Autonomy's software powers the full spectrum of mission-critical enterprise applications including information access technology, pan-enterprise search, information governance, end-to-end eDiscovery and archiving, records management, business process management, customer interaction solutions, and video and audio analysis, and is recognized by industry analysts as the clear leader in enterprise search.
Autonomy's customer base comprises of more than 17,000 global companies and organizations including: 3, ABN AMRO, AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler Chrysler, Deutsche Bank, Ericsson, Ford, GlaxoSmithKline, Lloyd TSB, NASA, Nestle, the New York Stock Exchange, Reuters, Shell, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. More than 350 companies OEM Autonomy technology, including BEA, Citrix, EDS, H-P, Novell, Oracle, Sybase and TIBCO, and the company has over 400 VARs and Systems Integrators. The company has offices worldwide.
Autonomy and the Autonomy logo are registered trademarks or trademarks of Autonomy Corporation plc. All other trademarks are the property of their respective owners.
Autonomy Editorial Contacts:
Winifred Shum
Autonomy (US)
+1-408-771-6668
wshum@autonomy.com
Tania Kempf
Cohn & Wolfe (US)
+1-650-281-7556
Tania_Kempf@sfo.cohnwolfe.com
David Vindel
Red (UK)
+44(0)207-0256529
david.vindel@redconsultancy.com
Edward Bridges
Financial Dynamics (UK)
+44(0)207-831-3113
edward.bridges@fd.com
Autonomy Corporation plc
CONTACT: Autonomy Editorial Contacts: Winifred Shum, Autonomy (US), +1-408-771-6668, wshum@autonomy.com; Tania Kempf, Cohn & Wolfe (US), +1-650-281-7556, Tania_Kempf@sfo.cohnwolfe.com; David Vindel, Red (UK), +44(0)207-0256529, david.vindel@redconsultancy.com; Edward Bridges, Financial Dynamics (UK), +44(0)207-831-3113, edward.bridges@fd.com
Cellcom Israel Schedules Second Quarter 2008 Results Release for August 13, 2008Conference Call Scheduled for August 13, 2008 at 8:30 am ET
NETANYA, Israel, August 4 /PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (hereinafter: the "Company"), announced today that it will be releasing its financial results for the second quarter 2008 on Wednesday, August 13, 2008, before the US markets open.
The Company will be hosting a conference call later that day, at 8:30am ET. On the call, management will review and discuss the results and will be available to answer questions.
To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
US Dial-in Number: 1-888-668-9141
UK Dial-in Number: 0-800-032-3367
ISRAEL Dial-in Number: 03-918-0688
International Dial-in Number: +972-3-918-0688
at:
8:30 am Eastern Time; 5:30 am Pacific Time;
1:30 pm UK Time; 3:30 pm Israel Time
The conference will be broadcasted live on the investor relations section of the Company's website: http://investors.ircellcom.co.il/. After the call, a replay of the call will be available under the same investor relations section.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its 3.096 million subscribers (as at March 31, 2008) with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an HSPA 3.5 Generation network enabling the fastest high speed content transmission available in the world, in addition to GSM/GPRS/EDGE and TDMA networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers its customers technical support, account information, direct to the door parcel services, internet and fax services, dedicated centers for the hearing impaired, etc. In April 2006 Cellcom Israel, through Cellcom Fixed Line Communications L.P., a limited partnership wholly-owned by Cellcom Israel, became the first cellular operator to be granted a special general license for the provision of landline telephone communication services in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://investors.ircellcom.co.il/
Company Contact
Shiri Israeli
Investor Relations Coordinator
investors@cellcom.co.il
Tel: +972-52-998-9755
Investor Relations Contact
Ehud Helft / Ed Job
CCGK Investor Relations
ehud@gkir.com / ed.job@ccgir.com
Tel: (US) +1-866-704-6710 / +1-646-213-1914
Cellcom Israel Ltd.
CONTACT: Company Contact: Shiri Israeli, Investor Relations Coordinator, investors@cellcom.co.il, Tel: +972-52-998-9755; Investor Relations Contact: Ehud Helft / Ed Job, CCGK Investor Relations, ehud@gkir.com / ed.job@ccgir.com, Tel: (US) +1-866-704-6710 / +1-646-213-1914
Jet Airways Opts for International Payment Solutions From Wirecard AG
GRASBRUNN, Germany, August 4 /PRNewswire/ -- The largest private Indian airline, Jet Airways (India)
Limited, has opted for IATA-BSP payment solutions from Wirecard AG.
Established in 1992, Jet Airways is among the world's
fastest-growing airlines today and carries millions of passengers. Jet
Airways has 64 destination airports in Asia, Europe and North America.
V Janakiraman, Head of Revenue Accounting, Jet Airways says:
"The reason for our decision for Wirecard AG was the high reputation Wirecard
enjoys in the airline industry. We chose Wirecard because our partner
airlines were impressed with the efficiency and performance of their payment
solutions."
"The combination of technical expertise, a banking license and
customer oriented flexibility represents our unique selling point not only
for this industry," says Jörg Möller, Head of Sales Travel and Transport at
Wirecard AG.
The range on offer from technology services provider Wirecard
comprises individually tailored, industry- and customer-specific payment and
risk management solutions, ranging from BSP in the airline sector and PoS
terminal solutions in the stationary segment all the way through to fraud
protection solutions for tele-shopping and Internet commerce. The services of
Wirecard Bank AG complement and extend the range of products and services for
business customers to include credit card acceptance agreements, banking
services and innovative prepaid card products.
About Jet Airways (India) Limited:
Jet Airways currently operates a fleet of 85 aircraft, which includes 10
Boeing 777-300 ER aircraft, 10 Airbus A330-200 aircraft, 54 classic and next
generation Boeing 737-400/700/800/900 aircraft and 11 modern ATR 72-500
turboprop aircraft. With an average fleet age of 4.28 years, the airline has
one of the youngest aircraft fleet in the world. Jet Airways operates over
385 flights daily.
Flights to 64 destinations span the length and breadth of India and
beyond, including New York (both JFK and Newark), San Francisco, Toronto,
Brussels, London (Heathrow), Hong Kong, Singapore, Shanghai, Kuala Lumpur,
Colombo, Bangkok, Kathmandu, Dhaka, Kuwait, Bahrain, Muscat, Doha and Abu
Dhabi. The airline plans to extend its international operations to other
cities in North America, Europe, Africa and Asia in phases with the
introduction of additional wide-body aircraft into its fleet.
Jet Airways with the acquisition of Jet Lite, today has a combined fleet
strength of 109 aircraft and offer customers a schedule of over 526 flights
daily.
Jet Lite:
Jet Lite is a wholly owned subsidiary of Jet Airways India Ltd. and was
acquired by Jet Airways in April 2007. Positioned as a value based Airline,
Jet Lite promises to offer value for money fares. Jet Lite currently operates
a fleet of 24 aircraft, which includes 17 Boeing 737 series and 7 Canadian
Regional Jets 200 Series. Jet Lite operates 141 flights every day to 30
domestic destinations and 2 international destinations (Kathmandu and
Colombo).
http://www.jetairways.com
About Wirecard AG:
Wirecard AG is one of the leading international providers of electronic
payment and risk management solutions. Worldwide, Wirecard supports over
9,000 companies from many and various industry segments in automating their
payment processes and minimizing cases of default. Wirecard Bank AG provides
account and credit card services both for business and private customers and
is a Principal Member of VISA, MasterCard and JCB. The Internet payment
service Wirecard enables consumers to make secure payments at millions of
MasterCard acceptance outlets worldwide. In addition, registered users can
send or receive money orders to each other on a real-time basis. Wirecard AG
is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060,
WDI).
http://www.wirecard.com
http://www.wirecardbank.de
http://www.mywirecard.com
Wirecard Media Contact:
Wirecard AG
Iris Stöckl
Bretonischer Ring 4
D-85630 Grasbrunn / Munich
Germany
Ph.: +49(0)89-4424-0424
Fax: +49(0)89-442400524
e-mail: iris.stoeckl@wirecard.com
Internet: http://www.wirecard.com
Jet Airways Media Contacts:
Jet Airways (India) Ltd Jet Airways (India) Ltd
RAGINI CHOPRA A.K. SIVANANDAN
Vice President - Sr. General Manager - PR
Corporate Communications & PR New Delhi, India
New Delhi, India Ph.: +91-11-2652-3357
Ph.: +91-11-4164-5080 Fax: +91-11-2652-3348
Fax: +91-11-4609-5084 e-mail: asivanandan@jetairways.com
e-mail: raginic@jetairways.com http://www.jetairways.com
http://www.jetairways.com
Jet Airways (India) Ltd
SRIRUPA SEN
Manager - PR
Mumbai, India
Ph.: +91-22-2852-3648
Fax: +91-22-2920-4437
e-mail: ssen@jetairways.com
http://www.jetairways.com
Wirecard AG
Wirecard Media Contact: Wirecard AG, Iris Stöckl, Bretonischer Ring 4, D-85630 Grasbrunn / Munich, Germany, Ph.: +49(0)89-4424-0424, Fax: +49(0)89-442400524, e-mail: iris.stoeckl@wirecard.com; Jet Airways Media Contacts: Jet Airways (India) Ltd, RAGINI CHOPRA, Vice President - Corporate Communications & PR, New Delhi, India, Ph.: +91-11-4164-5080, Fax: +91-11-4609-5084, e-mail: raginic@jetairways.com; Jet Airways (India) Ltd, A.K. SIVANANDAN, Sr. General Manager - PR, New Delhi, India, Ph.: +91-11-2652-3357, Fax: +91-11-2652-3348, e-mail: asivanandan@jetairways.com; Jet Airways (India) Ltd, SRIRUPA SEN, Manager - PR, Mumbai, India, Ph.: +91-22-2852-3648, Fax: +91-22-2920-4437, e-mail: ssen@jetairways.com
QUANTEL: Emission d'actions à bons de souscription d'actions avec maintien du droit préférentiel de souscription des actionnaires
LES ULIS, France, August 4 /PRNewswire/ -- Emission avec maintien du droit préférentiel de souscription
(les << DPS >>) des actionnaires d'un maximum de 979.330 actions nouvelles
(les << Actions Nouvelles >>) assorties de bons de souscription d'actions
(les << BSA >>) (ensemble, les << ABSA >>) (hors exercice éventuel d'une
faculté d'extension de 15% maximum - la << Faculté d'Extension >>) au prix
unitaire de 4 euros pour un montant brut total maximum de 3.917.320 EUR, à
raison de deux (2) ABSA pour cinq (5) DPS
Admission sur Euronext Paris de NYSE Euronext des DPS, des
Actions Nouvelles et des BSA, et des actions à provenir de leur exercice.
Un prospectus visé par l'Autorité des Marchés Financiers (AMF)
(ci-après le << Prospectus) a été établi à l'occasion de l'émission et de
l'admission sur le marché Euronext Paris de NYSE EURONEXT d'un maximum de
979.330 ABSA. Ce Prospectus est composé :
- du document de référence de la société QUANTEL déposé auprès
de l'AMF le 23 mai 2008 conformément à l'article 212-13 du Règlement général
de l'AMF sous le ndegrees D. 08-0438 ;
- d'une note d'opération visée par l'AMF le 31 juillet 2008
sous le numéro 08-162 ; et
- du résumé du prospectus (inclus dans la présente note
d'opération).
- Objectifs de l'opération
Restructurer le haut de son bilan et recueillir des fonds supplémentaires
nécessaires au financement de son exploitation.
Renforcer les fonds propres du Groupe pour lui permettre de poursuivre
son développement par croissance interne sur ses marchés stratégiques.
Le Groupe n'exclut pas la possibilité de procéder à toutes opérations
d'acquisition ou de cession pour accroître son efficacité sur ses métiers
stratégiques et optimiser ses ressources financières.
- Autorisation de l'émission
Décision du Conseil d'administration du 15 juillet 2008 prise sur
délégation de l'Assemblée générale mixte du 21 juin 2007 (8ème
résolution).
Décision du Président du Conseil d'administration du 30 juillet 2008
prise sur délégation du Conseil d'administration du 15 juillet 2008.
- Nombre maximum d'ABSA à émettre
979.330 actions nouvelles (les << Actions Nouvelles >>) assorties d'un
bon de souscription d'actions (<< BSA >>) chacune (ensemble, les << ABSA
>>) à raison de deux (2) ABSA pour cinq (5) droits préférentiels de
souscriptions (<< DPS >>) correspondant à une augmentation de capital
immédiate d'un montant nominal maximum de 2.937.990 EUR (hors exercice de
la Faculté d'Extension visée ci-dessous).
- Prix de souscription des ABSA
4 EUR par ABSA, soit 3 EUR de nominal et 1 EUR de prime d'émission, à
libérer intégralement à la souscription, soit une décote de 28% par
rapport au cours de clôture de l'action de la Société sur Euronext Paris
de NYSE Euronext le 29 juillet 2008 (5,35 EUR), dernière séance de bourse
précédant la fixation du prix par le Conseil d'administration.
- Produit brut et produit net de l'émission d'ABSA
En cas de réalisation à 100% de l'émission d'ABSA, le produit brut de
l'émission serait de 3.917.320 EUR et le produit net d'environ 3.763.974
EUR (hors exercice de la Faculté d'Extension visée ci-dessous).
En cas d'exercice de la Faculté d'Extension, le produit brut de
l'émission serait de 4.504.916 EUR et le produit net d'environ 4.339.818
EUR.
En cas de réalisation à 75% de l'émission, le produit brut de l'émission
serait de 2.937.988 EUR et le produit net de 2.804.228 EUR.
- Faculté d'extension
En fonction de l'importance de la demande, possibilité d'augmenter le
nombre d'ABSA initialement émises à hauteur de 146.899, soit 15% du
nombre initial (la << Faculté d'extension >>) et de porter ainsi
l'augmentation de capital résultant de l'émission d'ABSA à un montant
nominal de 3.378.687 EUR. La décision sera prise au plus tard le 4
septembre 2008.
- Pourcentage en capital et en droits de vote que représentent les ABSA
28,6% du capital social et 24% des droits de vote avant exercice des BSA
(dans l'hypothèse d'une émission à 100%, sur une base non diluée et sur
la base du capital au 30 juin 2008).
32,4% du capital social et 27,49% des droits de vote après exercice des
BSA (dans l'hypothèse d'une émission à 100%, sur une base non diluée et
sur la base du capital au 30 juin 2008).
- Droit préférentiel de souscription
Maintien du DPS : la souscription des ABSA sera réservée, par préférence,
aux propriétaires des actions anciennes, ou aux cessionnaires de leurs
DPS, qui pourront souscrire à titre irréductible à raison de deux (2)
ABSA pour cinq (5) DPS.
Les actionnaires et les cessionnaires des DPS n'auront pas la faculté de
souscrire à titre réductible. Si les souscriptions à titre irréductibles
n'ont pas absorbé la totalité de l'augmentation de capital, le Conseil
d'administration pourra, comme l'assemblée générale l'a autorisé à le
faire conformément aux dispositions de l'article L. 225-134 du Code de
commerce, alternativement ou cumulativement, dans des proportions qu'il
déterminera : (i) limiter le montant de l'augmentation de capital au
montant des souscriptions, (ii) répartir librement, à sa seule
discrétion, les Actions Nouvelles non souscrites, notamment au profit des
investisseurs non titulaires de DPS qui se sont engagés à souscrire, ou
(iii) les offrir au public.
Valeur théorique des DPS : à titre indicatif sur la base (i) du cours de
clôture du 29juillet 2008, soit 5,35 EUR, et (ii) de la volatilité à
cette date, soit 54%, la valeur théorique du DPS (BSA attaché) est égale
à 0,39 EUR.
Détachement et cotation des DPS : les DPS seront détachés le 5 août 2008.
Ils seront cotés et négociés sur Euronext Paris de NYSE Euronext, sous le
code ISIN FR0010646232 du [5 août au 29 août 2008 inclus.
- Période de souscription des ABSA
Du 5 août au 29 août 2008 inclus.
- Date d'émission des ABSA prévue
Le 10 septembre 2008.
- Date de jouissance des ABSA
Le 1er janvier 2008. Une fois le BSA détaché, les Actions Nouvelles
seront assimilées aux actions anciennes.
- Caractéristiques des BSA
Nombre : à chaque Action Nouvelle est attaché un (1) BSA. Le nombre total
maximum de BSA d'élève ainsi à 979.330 (dans l'hypothèse d'une
augmentation de capital à 100% et hors exercice de la Faculté
d'Extension).
Parité d'exercice : sous réserve de la Section 4.4.2.2 - << Règles
d'ajustement applicables en cas d'événement ayant une incidence sur le
sous-jacent >> de la présente Note d'Opération, cinq (5) BSA permettront
de souscrire une (1) action nouvelle QUANTEL à émettre.
Valeur théorique : entre 0,07EUR (volatilité de 40%) et 0,29 EUR
(volatilité de 80%), sur la base d'un cours de clôture de 5,35 EUR le 29
juillet 2008.
Prix d'exercice des BSA : 10 EUR par action nouvelle QUANTEL à émettre.
Période d'exercice des BSA : les titulaires des BSA pourront souscrire
aux actions nouvelles QUANTEL par exercice de leurs BSA à compter du 10
septembre 2008, date de leur émission, jusqu'au 30 juin 2010.
Admission aux négociations des BSA : les BSA feront l'objet d'une demande
d'admission aux négociations sur Euronext Paris de NYSE-Euronext.
Leur cotation sur Euronext Paris de NYSE-Euronext est prévue à compter du
10 septembre 2008 sous le numéro ISIN FR FR0010646257.
Date de jouissance des actions nouvelles à provenir de l'exercice des BSA
: les actions nouvelles à provenir de l'exercice des BSA porteront
jouissance à compter du premier jour de l'exercice social au cours duquel
les BSA auront été exercés.
Produit brut et produit net de l'exercice des BSA : en cas d'exercice de
100% des BSA, le produit brut à provenir de l'exercice des BSA serait de
1.958.660 EUR (hors exercice de la Faculté d'Extension).
- Admission aux négociations des Actions Nouvelles
Les Actions Nouvelles feront l'objet d'une demande d'admission aux
négociations sur Euronext Paris de NYSE-Euronext, celle-ci devant
intervenir le 10 septembre 2008. Elles seront, dès leur admission et le
détachement du BSA y attaché, assimilables aux actions anciennes et
négociées sous le code ISIN FR 0000038242 et sous le code Mnémonique QUA.
- Garanties
L'émission ne fera pas l'objet d'une garantie de bonne fin au sens de
l'article L. 225-145 du Code de commerce.
Il est précisé que si les trois-quarts (75%) de l'augmentation de capital
d'un montant nominal de 2.203.491 EUR n'étaient pas réalisés, l'opération
serait annulée et les ordres seraient caducs. En conséquence, les DPS ne
pouvant être exercés, perdraient alors toute valeur.
- Intention des principaux actionnaires, autres souscripteurs
Cinq investisseurs ont manifesté à la Société leur intention de souscrire
à la présente émission :
- Turenne Capital, à hauteur de 500.000 EUR ;
- Banque de Vizille à hauteur de 500.000 EUR ;
- NEM Partners à hauteur de 500.000 EUR ;
- OTC à hauteur de 1.000.000 EUR ;
- Bluebird Venture, à hauteur de 500.000 EUR ;
Par ailleurs, la Société Eurodyne se réserve la possibilité de souscrire
un montant maximum de 800.000 EUR en fonction des liquidités dont elle
disposera à la date de clôture des souscriptions.
- Convention de blocage / Engagement de conservation
Néant
Stabilisation - Interventions
Néant
- Calendrier prévisionnel
15 juillet 2008 Réunion du Conseil d'administration - Ordre du jour :
activité du 2ème semestre 2008, projet d'augmentation
de capital, délégation au Président du Conseil
d'administration à l'effet de fixer les modalités
définitives de l'émission
30 juillet 2008 Décision du Président du Conseil d'administration
arrêtant les modalités définitives de l'augmentation
de capital
31 juillet 2008 Visa AMF
4 août 2008 Diffusion d'un communiqué de presse décrivant les
principales caractéristiques de l'opération.
Publication d'un avis NYSE-Euronext relatif à
l'augmentation de capital
Diffusion du prospectus
Publication du résumé du Prospectus dans un journal
de diffusion nationale
4 août 2008 Publication au BALO de la notice légale
5 août 2008 Ouverture de la période de souscription des ABSA
Détachement et début de la période de négociation des
DPS
29 août 2008 Clôture de la période de souscription des ABSA
Fin de la période de négociation des DPS
3 septembre 2008 Décision d'exercer ou non la Faculté d'extension
Publication de l'avis NYSE Euronext d'admission des
Actions Nouvelles et des BSA.
Communiqué de presse annonçant le montant définitif
de l'augmentation de capital
5 septembre 2008 Centralisation des ordres à titre irréductible
Réunion du Conseil d'administration décidant de
l'allocation des actions non souscrites à titre
irréductible
10 septembre 2008 Règlement livraison des ABSA
Détachement des BSA
Cotation des Actions Nouvelles et des BSA
Ouverture de la période d'exercice des BSA
30 juin 2010 Clôture de la période d'exercice des BSA
- Résumé des principaux facteurs de risques
Les Investisseurs sont invités à prendre en considération les
risques décrits ci-dessous avant de prendre leur décision d'investissement :
- Les risques liés à QUANTEL (risques financiers, risques liés
à l'activité, risques liés aux acquisitions récentes et risques juridiques et
réglementaires), décrits au chapitre 3 du document de référence 2007 et
complétés au chapitre 2 de la note d'opération ;
- Les risques liés aux instruments financiers offerts, décrits
au chapitre 2 de la note d'opération.
Ces risques, ou l'un de ces risques ou d'autres risques, non
encore identifiés ou considérés comme non significatifs par QUANTEL,
pourraient avoir un effet négatif sur les activités, la situation financière
ou les résultats de QUANTEL, ou le cours de ses actions.
- Mise à disposition du prospectus
Des exemplaires du Prospectus sont disponibles sans frais
auprès de la société QUANTEL au siège social, et sur son site Internet
(http://www.quantel.fr), ainsi que sur le site Internet de l'AMF
(http://www.amf-france.org) et auprès de l'établissement habilité à recevoir
les souscriptions.
- Partenaires de l'opération
QUANTEL a été conseillée dans le cadre de l'émission d'ABSA par :
Invest Securities
Société de Bourse
Prestataire de services d'investissement
FONTAINE MITRANI
AVOCATS
Avocats au Barreau de Paris
A propos du Groupe QUANTEL
Fondé en 1970, le Groupe QUANTEL s'est imposé au cours des dix
dernières années comme l'un des plus grands spécialistes mondiaux de la
technologie laser à usages scientifiques (laboratoires de recherche,
universités), industriels (nettoyage au laser) et médical (ophtalmologie,
dermatologie).
Présent en France et aux USA, au travers de sa filiale QUANTEL
USA, le Groupe QUANTEL a réalisé en 2007 un chiffre d'affaires de 42,1 M EUR
dont 78 % à l'international réparti entre les applications scientifiques et
industrielles (58 %) et médicales (42%) du laser.
Quantel
Alain de SALABERRY
Président Directeur Général
T : +33-1-69-29-17-00
info@quantel.fr
Philippe MELIKIAN
Directeur Financier
T : +33-1-69-29-17-00
info@quantel.fr
CALYPTUS
Mathieu CALLEUX
Relation Investisseurs
T : +33-1-53-65-37-91
mathieu.calleux@calyptus.net
Marie EIN
Relation Presse
T : +33-1-53-65-37-91
marie.ein@calyptus.net
QUANTEL
Quantel: Alain de SALABERRY, Président Directeur Général, T : +33-1-69-29-17-00, info@quantel.fr; Philippe MELIKIAN, Directeur Financier, T : +33-1-69-29-17-00, info@quantel.fr. CALYPTUS: Mathieu CALLEUX, Relation Investisseurs, T : +33-1-53-65-37-91, mathieu.calleux@calyptus.net. Marie EIN, Relation Presse, T : +33-1-53-65-37-91, marie.ein@calyptus.net
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