Companies news of 2008-09-25 (page 1)
Authentidate Holding Corp. Reports Fiscal 2008 Fourth Quarter and Year End Results
Actions Semiconductor Provides Update on Share Repurchase Program
Actions Semiconductor Provides Update on Share Repurchase Program
PEER 1 Networks Reports Fourth Quarter and Year-End ResultsAnnual Normalized EBITDA...
Spectrum Control Reports Third Quarter ProfitEarnings per share up 13% from preceding...
T. Rowe Price Introduces Enhanced Online Retirement Income Calculator For Those in Any...
Media General Board Reduces Dividend
General Dynamics Awarded $26 Million Contract to Support Switzerland's F/A-18 Hornet Fleet...
NutraCea, Wyclef Jean's Foundation Yele Haiti, the Voila Foundation and L'Athletique...
Le réseau de distribution du service haut débit Tooway(TM) d'Eutelsat monte en puissance...
Lockheed Martin Announces Increase of Additional 30 Million Shares to Existing Share...
More TV Choice and Competition Near for Residents of Mansfield, Mass.Town Approves Video...
Distribution Network for Eutelsat's Tooway(TM) Broadband Service Gathers Speed With Numeo...
FailSafe Solutions, LLC. Announces Intent to Merge with Hybrilonics, Inc.
CardioDynamics Announces Third Quarter 2008 Conference Call and Webcast
Optelecom-NKF Adds Sales Executive
Northrop Grumman Wins Orders to Supply Integrated Bridge Systems for Novoship Newbuilds
New York Air National Guard LC-130 Equipped With Hamilton Sundstrand NP2000 Propellers...
Geeks On Call(R) Presents at National Investment Banking Association 2008 Capital...
Environmental Tectonics Corporation Announces that the ATFS-400 'Phoenix' Authentic...
Redline Communications Ranked Among the Fastest Growing Technology Companies in Canada
Azure Dynamics Announces Issuance of Deferred Share Units
Lockheed Martin Increases Dividend by 36 Percent
Verizon Calls for Industry Adoption of 'Best Practices' to Protect Consumer Privacy in...
Diebold's Patented Campaign Office(TM) Software Helps Transform ATMs Into...
National Semiconductor Increases Quarterly Cash Dividend
Nokia Launches Mobile Software to Help Organizations Deliver Critical Social...
Turkcell to Launch iPhone 3G in Turkey Tomorrow, 26 September 2008
Rocky Hill, Connecticut Residents to Benefit from Verizon Wireless Network...
Authentidate Holding Corp. Reports Fiscal 2008 Fourth Quarter and Year End Results
BERKELEY HEIGHTS, N.J., Sept. 25 /PRNewswire-FirstCall/ -- Authentidate Holding Corp. , a worldwide provider of secure workflow management software and web-based services, today announced financial results for the fiscal 2008 fourth quarter and year ended June 30, 2008.
Ben Benjamin, President of Authentidate, stated, "Revenues for the fourth quarter were up 27% compared to the same period last year due to increased transaction volumes and new customers in both our U.S. and German operations. In addition to experiencing increased utilization of our Inscrybe platform from existing customers, we have also announced new contracts over the past several months for the implementation of Inscrybe Healthcare, including agreements with Wheelchair Professionals and United Seating & Mobility that are in their initial ramp-up phase. By concentrating on our core operations and continued cost-saving initiatives, we were also able to reduce our net loss for the fourth quarter which is a trend we expect to continue.
"Midway through fiscal 2008, we made the strategic decision to expand the company's focus and enter several new markets where we saw a need for our healthcare products and services. At the core of our expansion strategy is the belief that the Inscrybe Healthcare product can play an increasingly important role in the complex health information exchanges that are still largely paper-based and cumbersome today. We are making progress in this effort and anticipate that these initiatives will add to our transaction volumes over the next several quarters," continued Mr. Benjamin.
Total revenues for the three months ended June 30, 2008 increased 27% to approximately $1,675,000 compared to $1,320,000 for the same period last year. These results reflect an increase of approximately 65% in U.S. revenues offset by slower growth from our German operations of approximately 11%.
Net loss from continuing operations for the fourth quarter of fiscal 2008 decreased to $2,633,000, or $0.08 per share, compared to $3,575,000, or $0.10 per share, from continuing and discontinued operations for the same period last year. Net loss for the fourth quarter of fiscal 2007 includes approximately $600,000 for incremental legal fees which were offset by a net gain from discontinued operations of approximately $922,000. The reduction in net loss for the fourth quarter of fiscal 2008 reflects the headcount reductions and other cost management activities implemented during fiscal 2008.
Total revenue for the year ended June 30, 2008 increased to $6,067,000 versus $4,998,000 for the prior year period. This growth reflects an increase of approximately 38% from U.S. operations and 13% from German operations; both were driven by higher transaction volumes and new customers.
Net loss from continuing operations for the year ended June 30, 2008 was $15,811,000, or $0.46 per share, compared to $15,063,000, or $0.44 per share, from continuing and discontinued operations for the prior year. The increase in net loss for fiscal 2008 reflects incremental legal fees and settlements, accrued severance and certain non-operating expenses of approximately $3,808,000, or $0.11 per share. The prior year includes incremental legal fees of approximately $2,400,000 which were offset in part by a net gain from discontinued operations of approximately $1,055,000.
"As we move forward in fiscal 2009 with our revised strategy in place and new opportunities to serve additional segments of the healthcare market, we believe we will continue to experience growth in our business. We are committed to helping complex industries such as healthcare transition to more efficient electronic business practices. Our products and services enable this migration with flexible communication and workflow capabilities. By working with our existing customers and new prospects, we are taking a leadership role in reducing the cost of healthcare administration while providing greater transparency and compliance for the industry," concluded Mr. Benjamin.
As of June 30, 2008, the Company's cash and cash equivalents, and marketable securities totaled $14,818,000 and deferred revenue totaled $1,413,000.
Conference Call
Management will host a conference call at 4:30 p.m. ET on Thursday, September 25, 2008, to discuss the latest corporate developments and results. The dial-in number for callers in the U.S. is (888) 562-3356 and the dial in number for international callers is (973) 582-2700. The access code for all callers is 63730597. To access the live webcast, visit http://www.authentidate.com/, click the "About Us" link, followed by "Investor Relations" on the drop-down menu and then the "Audio Archives" link. Following the conclusion of the call, the webcast will also be archived on the Company's website.
A replay of the call will be available through October 2, 2008. To access the replay, please dial (800) 642 1687 in the U.S. and (706) 645 9291 internationally, and then enter the access code 63730597. A live web cast will be available on the Company's website.
Information About the Proposed Merger with Parascript
On August 6, 2008, Authentidate announced a definitive merger agreement with Parascript, LLC, an image analysis and pattern recognition software provider. The merger is still subject to customary closing conditions, including shareholder approval. In connection with the proposed transaction, our subsidiary, AHC Group, filed with the Securities and Exchange Commission (the "SEC"), a Registration Statement on Form S-4, containing a preliminary joint proxy statement of Authentidate and Parascript, and a preliminary prospectus of Authentidate covering the common stock of the new Authentidate to be issued upon closing of the transaction. Authentidate and Parascript will mail the definitive Joint Proxy Statement/Prospectus to their respective security holders, which will contain important information about the transaction. Authentidate and Parascript urge investors and security holders to read the joint proxy statement/prospectus when it is available. Investors and security holders will be able to obtain free copies of the Registration Statement and the Joint Proxy Statement/Prospectus and other documents filed with the SEC by and through the web site maintained by the SEC at http://www.sec.gov/. In addition, investors and security holders will be able to obtain free copies of the Registration Statement and the Joint Proxy Statement/Prospectus from Authentidate from Authentidate's website (http://www.authentidate.com/) under the tab "About Us - Investor Relations and then under the item "SEC Filings".
Proxy Solicitation
Authentidate, Parascript and their respective directors and executive officers and certain other persons may be deemed to be participants in the solicitation of proxies in respect of the merger. Information regarding the persons, who may, under the rules of the SEC, be considered participants in the solicitation of proxies in connection with the proposed merger will be set forth in the definitive joint proxy statement/prospectus when it is filed with the SEC. You can also find information about Authentidate's executive officers and directors in its definitive proxy statement filed with the SEC on March 28, 2008. You can obtain free copies of these documents from the SEC at the SEC's web site at http://www.sec.gov/ and from Authentidate using the contact information above.
About Authentidate Holding Corp.
Authentidate Holding Corp. is a worldwide provider of secure workflow management software and web-based services. The company's automated and trusted workflow solutions enable enterprises and office professionals to employ rules-based electronic forms, intelligent routing and transaction management, electronic signing, content authentication, identity credentialing and verification and web and fax based communication capabilities. Customer benefits from the company's offerings include increased revenues, reduced costs, improved productivity and service levels, automated audit trails, enhanced compliance with regulatory requirements and the reduction of paper- based processes. The company has offices in the United States and Germany. In the United States we offer our patent pending content authentication technology in the form of the United States Postal Service(R) Electronic Postmark(R) (EPM).
For more information, visit the company's website at http://www.authentidate.com/.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
Authentidate is a registered trademark of Authentidate Holding Corp. Inscrybe and MyInscrybe are trademarks of Authentidate Holding Corp. All other trade names are the property of their respective owners.
This press release is available on the KCSA Strategic Communications Web site at http://www.kcsa.com/.
For: Authentidate Holding Corp.
Investor Contacts: Media Contacts:
Todd Fromer / Garth Russell Erika Kay
KCSA Strategic Communications KCSA Strategic Communications
212-896-1215 / 212-896-1250 212-896-1208
tfromer@kcsa.com / grussell@kcsa.com ekay@kcsa.com
Tables follow:
Authentidate Holding Corp. and Subsidiaries
Consolidated Statements of Operations
June 30,
(in thousands, except per share data) 2008 2007
--------------------------------------- ---- ----
Assets
Current assets
Cash and cash equivalents $4,493 $8,735
Restricted cash 512 521
Marketable securities 6,375 22,896
Accounts receivable, net 1,287 1,543
Prepaid expenses and other current assets 671 399
--- ---
Total current assets 13,338 34,094
Marketable securities 3,950 -
Property and equipment, net 1,014 1,078
Note receivable, net of deferred gain of $2,000 - -
Other assets
Software development costs, net 2,533 2,463
Goodwill 7,341 7,341
Other assets 1,375 1,609
Assets held for sale 2,000 2,119
----- -----
Total assets $31,551 $48,704
======= =======
Liabilities and Shareholders' Equity
Current liabilities
Accounts payable and accrued expenses $1,850 $3,992
Deferred revenue 1,273 1,230
Other current liabilities 97 157
-- ---
Total current liabilities 3,220 5,379
Long-term deferred revenue 140 140
--- ---
Total liabilities 3,360 5,519
----- -----
Commitments and contingencies
Shareholders' equity
Preferred stock $.10 par value; 5,000
shares authorized Series B, 28 shares
issued and outstanding 3 3
Common stock, $.001 par value; 75,000 shares
authorized, 34,537 and 34,430 issued and
outstanding on June 30, 2008 and 2007
respectively 35 34
Additional paid-in capital 165,681 164,336
Accumulated deficit (137,006) (121,125)
Accumulated other comprehensive loss (522) (63)
---- ---
Total shareholders' equity 28,191 43,185
------ ------
Total liabilities and
shareholders' equity $31,551 $48,704
======= =======
Authentidate Holding Corp. and Subsidiaries
Consolidated Statements of Operations
(Quarterly Information is Unaudited)
Three Months Ended Year Ended
June 30, June 30,
-----------------------------------
(in thousands, except per
share data) 2008 2007 2008 2007
----------------------------------- ---- ---- ---- ----
Revenues
Software licenses and support $1,029 $929 $3,769 $3,335
Hosted software services 646 391 2,298 1,663
--- --- ----- -----
Total revenues 1,675 1,320 6,067 4,998
----- ----- ----- -----
Operating expenses
Cost of revenues 630 707 2,244 2,134
Selling, general and
administrative 2,713 4,492 16,434 16,843
Product development 506 639 2,823 2,594
Depreciation and amortization 410 345 1,638 1,499
Total operating expenses 4,259 6,183 23,139 23,070
----- ----- ------ ------
Operating loss (2,584) (4,863) (17,072) (18,072)
Other income (expense) (49) 366 1,261 1,954
------ ------ ------- -------
Loss from continuing operations (2,633) (4,497) (15,811) (16,118)
Income from discontinued
operations, including gain on
disposal in 2007 of $1,264, net - 922 - 1,055
------- ------- -------- --------
Net loss $(2,633) $(3,575) $(15,811) $(15,063)
======= ======= ======== ========
Basic and diluted income
(loss) per share
Continuing operations $(0.08) $(0.13) $(0.46) $(0.47)
Discontinued operations 0.03 - 0.03
------ ---- ------ ----
Basic and diluted loss per share $(0.08) $(0.10) $(0.46) $(0.44)
====== ====== ====== ======
Authentidate Holding Corp.
CONTACT: Investor Contacts, Todd Fromer, +1-212-896-1215, tfromer@kcsa.com, or Garth Russell, +1-212-896-1250, grussell@kcsa.com, or Media Contact, Erika Kay, +1-212-896-1208, ekay@kcsa.com, all of of KCSA Strategic Communications, for Authentidate Holding Corp.
Web Site: http://www.authentidate.com/
Actions Semiconductor Provides Update on Share Repurchase Program
ZHUHAI, China, Sept. 25 /Xinhua-PRNewswire/ -- Actions Semiconductor Co., Ltd. , one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today provided an update on its share repurchase plan. On May 10, 2007 Actions' board of directors authorized a program to repurchase up to 8 million of its American Depositary Shares (ADSs) representing 48 million ordinary shares. To date, the Company has invested approximately $12.9 million in the program, representing over 3.2 million ADSs. The repurchased shares are used in connection with the Company's employee benefit plans and other general corporate purposes. At the end of the second quarter of 2008, the Company had approximately 84 million outstanding ADS.
The Company may repurchase shares in the open market or through privately negotiated transactions. The timing and actual number of ADSs repurchased will depend upon market conditions and other factors, in accordance with Securities and Exchange Commission requirements.
"During the third quarter, we significantly increased the repurchase of our company shares at values near or below the per share cash levels. We believe our stock repurchase program demonstrates our ongoing commitment to building shareholder value, our continued confidence in the strength of our business model, and our management team's ability to execute. We will continue to prudently repurchase shares as part of our corporate strategy and in compliance with SEC's regulations on the repurchase program," stated Mr. Nan-Horng Yeh, Chief Executive Officer of Actions Semiconductor.
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing, Shanghai, and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/ .
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause Actions Semiconductor's actual results to differ materially from our current expectations. Factors that could cause Actions Semiconductor's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms 20-F and 6-Ks. Actions Semiconductor undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.
For more information, please contact:
Investor Contacts:
Lisa Laukkanen
The Blueshirt Group
Email: lisa@blueshirtgroup.com
Tel: +1-415-217-4967
Ernie Huang
Investor Relations at Actions Semiconductor
Email: ernie@actions-semi.com
Tel: +86-756-339-2353 x1095
Actions Semiconductor Co., Ltd.
CONTACT: Investor Contacts: Lisa Laukkanen of The Blueshirt Group, +1- 415-217-4967, or lisa@blueshirtgroup.com; Or Ernie Huang of Investor Relations at Actions Semiconductor, +86-756-339-2353 x1095, or ernie@actions-semi.com
Web site: http://www.actions-semi.com/
Actions Semiconductor Provides Update on Share Repurchase Program
ZHUHAI, China, Sept. 25 /Xinhua-PRNewswire/ -- Actions Semiconductor Co., Ltd. , one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today provided an update on its share repurchase plan. On May 10, 2007 Actions' board of directors authorized a program to repurchase up to 8 million of its American Depositary Shares (ADSs) representing 48 million ordinary shares. To date, the Company has invested approximately $12.9 million in the program, representing over 3.2 million ADSs. The repurchased shares are used in connection with the Company's employee benefit plans and other general corporate purposes. At the end of the second quarter of 2008, the Company had approximately 84 million outstanding ADSs.
The Company may repurchase shares in the open market or through privately negotiated transactions. The timing and actual number of ADSs repurchased will depend upon market conditions and other factors, in accordance with Securities and Exchange Commission requirements.
"During the third quarter, we significantly increased the repurchase of our company shares at values near or below the per share cash levels. We believe our stock repurchase program demonstrates our ongoing commitment to building shareholder value, our continued confidence in the strength of our business model, and our management team's ability to execute. We will continue to prudently repurchase shares as part of our corporate strategy and in compliance with SEC's regulations on the repurchase program," stated Mr. Nan-Horng Yeh, Chief Executive Officer of Actions Semiconductor.
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing, Shanghai, and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause Actions Semiconductor's actual results to differ materially from our current expectations. Factors that could cause Actions Semiconductor's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms 20-F and 6-Ks. Actions Semiconductor undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.
Investor Contacts:
Lisa Laukkanen Ernie Huang
The Blueshirt Group Investor Relations at Actions Semiconductor
lisa@blueshirtgroup.com ernie@actions-semi.com
415-217-4967 +86 756 3392353 ext 1095
Actions Semiconductor Co., Ltd.
CONTACT: Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967, lisa@blueshirtgroup.com, for Actions Semiconductor Investor Relations; or Ernie Huang of Actions Semiconductor Investor Relations, +86 756 3392353, ext 1095, ernie@actions-semi.com
Web site: http://www.actions-semi.com/
PEER 1 Networks Reports Fourth Quarter and Year-End ResultsAnnual Normalized EBITDA Increases by 41% to $28 Million
VANCOUVER, Sept. 25 /PRNewswire-FirstCall/ -- PEER 1 Network Enterprises, Inc. (TSX: PIX), a leading provider of online IT infrastructure, today announced the results for the three and twelve months ended June 30, 2008. All amounts are stated in US dollars.
Selected Financial Highlights for the year ended June 30, 2008:
- Revenue increased 20.6% to $89.3 million, compared with $74.1 million
in the prior year;
- Gross profit increased 42.1% to $40.5 million, compared with
$28.5 million in the prior year;
- Operating income increased 99.8% to $14.7 million, compared with
$7.4 million in the prior year;
- Normalized EBITDA increased 40.8% to $28.1 million, compared with
$19.9 million in the prior year;
- Normalized EBITDA margin increased to 31.4% compared with 26.9% in
the prior year; and
- Net income increased by 94.5% to $7.1 million, compared with
$3.6 million in the prior year.
Operational highlights:
- The Company entered into an agreement to lease 5,478 square feet of
additional data center space at 151 Front Street in Toronto.
Occupancy is scheduled to commence in October 2008; and
- PEER 1 quadrupled its network backbone capacity through a
comprehensive standardized network upgrade.
"We are passionate about enabling our customers to realize the limitless potential of the Internet. The dedication of our employees, coupled with award winning service, are responsible for the exceptional growth PEER 1 experienced in 2008," said Fabio Banducci, President and Chief Executive Officer of PEER 1. "We have been busy expanding the capacity of our business and network to meet the needs of our present and future customers."
Fourth Quarter and Annual Financial Review
Revenues increased by 18.0% to $23.4 million for the three months ended June 30, 2008, compared with $19.8 million for the same period in 2007. Foreign exchange effects accounted for $0.5 million of this increase. For the year ended June 30, 2008, consolidated revenues increased by 20.6% to $89.3 million, compared with $74.1 million for the year ended June 30, 2007. For the year ended June 30, 2008, the increase in revenue attributable to currency fluctuations was $2.6 million. Organic growth, after removing the effects of foreign exchange, was 15.4% for the quarter ended June 30th, 2008 compared with the same period in 2007, and 17.1% for fiscal 2008 compared with 2007.
Growth was consistent throughout the year in dedicated hosting, PEER 1's largest revenue segment. Dedicated hosting revenues increased by 17.7% to $16.4 million for the three months ended June 30, 2008, from $13.9 million in the same period of the previous year. Dedicated hosting revenues increased by 17.6% to $62.0 million for the year ended June 30, 2008, from $52.7 million for the previous year.
For the three months ended June 30, 2008, co-location revenues increased by 21.1 % to $3.2 million, from $2.7 million for the three months ended June 30, 2007. For the year ended June 30, 2008, co-location revenues increased by 27% to $12.6 million, from $9.9 million in the previous year. Compared to the rest of the year, the pace of growth in the co-location segment was slower in the fourth quarter of 2008, as a result of demand outstripping capacity in the Toronto and Vancouver markets. This constraint will be somewhat alleviated by a datacenter expansion at 151 Front Street in Toronto that will be available in October 2008.
Bandwidth revenues increased by 8.9% to $2.5 million for the three months ended June 30, 2008, compared with $2.3 million in the same period of the previous year. Annual bandwidth revenues increased by 17.4% to $10.0 million for the year ended June 30, 2008, compared with $8.5 million for the year ended June 30, 2007.
Cost of sales as a percentage of revenue decreased to 52.7% for the three months ended June 30, 2008, from 59.9% for the three months ended June 30, 2007. For the year ended June 30, 2008, PEER 1's cost of sales as a percentage of revenue decreased to 54.7%, from 61.5% for the year ended June 30, 2007. The decrease in cost of sales as a percentage of revenue can be attributed to costs remaining relatively stable, while revenue grew during the three and twelve month periods ended June 30, 2008.
For the three months ended June 30, 2008, total operating expenses increased by 11.6% to $7.2 million, from $6.5 million for the corresponding period in 2007. Operating expenses as a percentage of revenue were 30.9% for the three months ended June 30, 2008, compared with 32.6% for the three months ended June 30, 2007. Total operating expenses for 2008 increased by 22.1% to $25.8 million from $21.2 million for the year ended June 30, 2007. As a percentage of revenue, operating expenses increased to 28.9% for the year ended June 30, 2008, compared with 28.6% for the year ended June 30, 2007 as a result of higher stock based compensation in fiscal 2008.
Normalized EBITDA for the quarter ended June 30, 2008 grew by 39.5% to $7.8 million, compared with $5.6 million in the fourth quarter of 2007. Normalized EBITDA margin for the three months ended June 30, 2008 was 33.3%, compared with 28.2% for the corresponding period in 2007. For the year ended June 30, 2008, normalized EBITDA grew by 40.8% to $28.1 million, compared with $19.9 million in fiscal 2007. Normalized EBITDA margin for the year ended June  30, 2008 was 31.4%, compared with 26.9% in the previous year.
Net income for the three months ended June 30, 2008 decreased to $1.7 million, from $2.3 million for the corresponding period in 2007. The relative decrease in net income between the fourth quarters of 2008 and 2007 can be attributed to the recognition of future tax benefits in the fourth quarter of 2007 that was partially offset by an increase in operating income in the fourth quarter of 2008. For the year ended June 30, 2008, net income increased by 94.5% to $7.1 million, from $3.6 million in 2007.
As at June 30, 2008, PEER 1 had cash and cash equivalents of $11.0 million, compared with $8.8 million as at June 30, 2007. The Company had a working capital deficit of $1.3 million at June 30, 2008, compared with a working capital deficit of $1.3 million as at the end of June 30, 2007. The working capital deficit of $1.3 million at June 30, 2008 includes deferred revenue of $4.2 million and current portion of notes payable of $3.3 million. The Company anticipates current liquidity and cash generated from operations to be sufficient to fund existing operations for the foreseeable future. PEER 1 had 118.5 million common shares outstanding as at June 30, 2008.
Capacity and Utilization Update
Prior to June 30, 2008, PEER 1 entered into an agreement securing 5,478 square feet of additional data center space at 151 Front Street in Toronto that will increase the Company's capacity by 120 cabinet equivalents. The cost of converting this to data center space is expected to be $2.5 million. Occupancy is scheduled for October 2008.
Subsequent to June 30, 2008, on September 5, 2008, the Company entered into an agreement to expand the existing leased data center facility in Herndon, Virginia, adding 8,614 square feet of contiguous space that will increase the Company's capacity by approximately 2880 servers. Due to the fact that this space was formerly used as a data center, the costs of converting the space for PEER 1 are substantially lower, and are expected to be approximately $1.6 million. The additional space is scheduled to be made available to customers commencing in the first quarter of calendar year 2009.
As at August 2008 Total Capacity Current Utilization (%)
Hosting (servers) 31,000 63%
Co-location (NCE's) 1,600 81%
The capacity numbers include the incremental capacity that 151 Front Street and Virginia will add when complete.
The Company continues to seek additional data center space in Vancouver and Toronto to address the growing need for co-location services in these two markets, as well as to locate dedicated hosting services in the Canadian marketplace.
Subsequent Events
In July 2008, an electrical fire in a BC Hydro underground vault led to a power outage in downtown Vancouver that interrupted power at the Company's data center facility. As a result of the related service interruption, the company issued credits in the amount of $93,000 to affected customers. The Company has completed a full review of the event and the fail safe measures needed to mitigate these circumstances in the future. This review can be found at http://www.peer1.com/forums/.
EBITDA Reconciliation
(unaudited - prepared by
management)
(in $ thousands) Twelve Months Ended Three Months Ended
--------------------------------------------
30-Jun-08 30-Jun-07 30-Jun-08 30-Jun-07
Net Profit 7,064 3,631 1,734 2,303
Income tax expense 5,237 (2,678) 1,451 (2,918)
Interest expense 2,179 3,223 548 702
Interest accretion on notes
payable 88 209 22 45
Amortization of preferred share
discount - 1,361 - 241
Amortization - licenses,
fixed assets and deferred
network costs 11,048 10,945 3,028 2,954
Stock based compensation 1,453 449 273 133
Loss (gain) on disposal of
assets (12) 138 2 10
Amortization of deferred gain (79) (59) (20) (20)
Foreign exchange loss (gain) 367 (33) 126 (9)
-------------------------------------------------------------------------
EBITDA 27,345 17,186 7,164 3,441
EBITDA margin 30.31% 23.19% 30.63% 17.35%
Impairment of intangible assets - 1,185 - 1,185
Provision for sales / use tax 624 915 624 915
Integration costs 93 650 - 42
-------------------------------------------------------------------------
Normalized EBITDA 28,062 19,936 7,788 5,583
Normalized EBITDA margin 31.41% 26.91% 33.29% 28.16%
Conference Call
PEER 1 will be holding a conference call today, Thursday, September 25, 2008 at 5:30 p.m. EDT, to discuss its fourth quarter and year-end results. The Company's full Financial Statements and Management's Discussion and Analysis are available on its website at http://www.peer1.com/investors/.
To access the conference call by telephone, dial 416-644-3415 or 800-733-7571 15 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay until Thursday, October 2, 2008, at midnight. To access the archived conference call, dial 416-640-1917 or 877-289-8525 and enter the reservation number: 21282991 followed by the number sign.
A live audio webcast of the conference call will be available at:
http://newswire.ca/en/webcast/viewEvent.cgi?eventID=2405700
Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above website for 90 days.
Non-GAAP Measures
PEER 1 reports EBITDA because it is a key measure used by management to evaluate the Company's performance. PEER 1 believes that EBITDA is useful supplemental information, as it provides an indication of the results generated by PEER 1's main business activities prior to taking into consideration how those activities are financed and expensed. EBITDA is not a recognized measure under Canadian GAAP, and accordingly investors are cautioned that EBITDA should not be construed as an alternative to net earnings or loss determined in accordance with Canadian GAAP as an indicator of financial performance of PEER 1, or as a measure of the company's liquidity and cash flows. PEER 1's method of calculating EBITDA may differ from other issuers and, accordingly, EBITDA may not be comparable to similar measures presented by other issuers. The schedule above sets out PEER 1's EBITDA calculations.
About PEER 1
PEER 1 believes in the limitless opportunity of the Internet, and the business growth potential it provides for its more than 10,000 customers. As a leading online IT infrastructure provider, PEER 1 offers a reliable high performance Internet network, supporting scalable managed hosting, dedicated hosting through the ServerBeach brand, and co-location solutions. Backed by its 100 percent uptime guarantee and 24x7x365 FirstCall Support(TM), PEER 1 ensures customers' online presence is always fast, always available. Since 1999, PEER 1 has grown to include 15 data centers in North America, and points-of-presence in Europe. The Company's headquarters are in Vancouver, Canada and the stock is traded on the TSX under the symbol PIX. For more information visit: http://www.peer1.com/.
Consolidated Balance Sheet
June 30, 2008
(in thousands of United States dollars)
Assets 2008 2007
-------------------------------------------------------------------------
Current:
Cash and cash equivalents $ 11,026 $ 8,754
Restricted cash 250 505
Accounts receivable 4,704 4,424
Future income tax asset 104 1,392
Prepaid expenses 801 689
-------------------------------------------------------------------------
16,885 15,764
Other assets 2,825 4,079
Future income tax asset 1,841 2,574
Property and equipment 33,818 26,924
Equipment under capital lease 1,267 -
Goodwill 1,715 1,715
Intangible Assets (Note 8) 2,500 3,030
-------------------------------------------------------------------------
$ 60,851 $ 54,086
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Liabilities
-------------------------------------------------------------------------
Current:
Accounts payable and accrued liabilities $ 8,810 $ 8,754
Deferred revenue 4,206 4,236
Current portion of deferred gain 79 79
Current portion of deferred lease inducements 134 144
Current portion of notes payable 3,286 3,350
Current portion of obligations under capital lease 226 -
Income taxes payable 1,435 476
-------------------------------------------------------------------------
18,176 17,039
Deferred gain 571 650
Deferred lease inducements 739 965
Notes payable 12,008 16,257
Obligation under capital lease 655 -
-------------------------------------------------------------------------
32,149 34,911
-------------------------------------------------------------------------
Shareholders' Equity
-------------------------------------------------------------------------
Capital stock 26,539 25,254
Warrants 678 917
Contributed surplus 2,509 1,092
Deficit per consolidated statement of operations,
comprehensive income and deficit (1,013) (8,077)
Accumulated other comprehensive loss (11) (11)
-------------------------------------------------------------------------
28,702 19,175
-------------------------------------------------------------------------
-------------------------------------------------------------------------
$ 60,851 $ 54,086
-------------------------------------------------------------------------
Consolidated Statement of Operations and Deficit
For the Year Ended June 30, 2008
(in thousands of United States dollars, except per share amounts)
2008 2007
-------------------------------------------------------------------------
Revenue
Co-location Services 27,397 21,401
Dedicated Hosting Services 61,950 52,696
------ ------
89,347 74,097
Cost of revenue 48,835 45,594
-------------------------------------------------------------------------
Gross profit 40,512 28,503
Operating expenses 25,824 21,153
-------------------------------------------------------------------------
Operating Income before other items 14,688 7,350
-------------------------------------------------------------------------
Other Items:
Interest income (328) (336)
Amortization of preferred share discount - 1,361
Integration costs 93 650
(Gain) Loss on disposal of property plant &
equipment (12) 138
Foreign exchange loss (gain) 367 (33)
Impairment of intangible assets - 1,185
Interest expense - long term 2,267 3,432
-------------------------------------------------------------------------
2,387 6,397
-------------------------------------------------------------------------
Income before income taxes 12,301 953
Income tax expense (recovery) 5,237 (2,678)
-------------------------------------------------------------------------
Net Income and comprehensive income 7,064 3,631
Deficit, beginning 8,077 11,708
-------------------------------------------------------------------------
Deficit, ending $ 1,013 $ 8,077
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Basic and diluted income per share $ 0.06 $ 0.04
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Consolidated Statement of Cash Flows
For the Year Ended June 30, 2008
(in thousands of United States dollars)
2008 2007
-------------------------------------------------------------------------
Operating Activities:
Net Income $ 7,064 $ 3,631
Adjustments for -
Amortization of preferred share discount - 1,361
Amortization of property and equipment 9,458 9,415
Amortization of intangible assets 1,590 1,530
Increase in accrued interest and accretion of
convertible debt 18 142
Bad debt expense 494 628
(Gain) Loss on disposal of property and equipment (12) 138
Impairment of intangible assets - 1,185
Amortization of deferred gain (79) (59)
Amortization of deferred loan origination fees 648 946
Future income tax expense (recovery) 2,040 (3,962)
Stock-based compensation included in income for
the year 1,453 449
(Decrease) Increase in deferred lease inducements (236) 602
Changes in non-cash working capital -
Decrease (Increase) in accounts receivable (775) 189
Decrease (Increase) in prepaid expenses (112) 31
Increase (Decrease) in accounts payable and
accrued liabilities 341 (1,852)
Increase in income taxes payable 912 74
(Decrease) Increase in deferred revenue (30) 487
-------------------------------------------------------------------------
Cash flows from operating activities 22,774 14,935
-------------------------------------------------------------------------
Investing Activities:
Decrease in restricted cash 255 -
Investment in other assets (177) (1,310)
Acquisition of property and equipment (17,017) (11,165)
Acquisition of intangible assets (975) (1,017)
Proceeds on disposition of equipment 46 51
-------------------------------------------------------------------------
Cash flows used in investing activities (17,868) (13,441)
-------------------------------------------------------------------------
Financing Activities:
Net Proceeds on sale leaseback - 1,750
Repayments of notes payable (3,554) (3,456)
Proceeds from notes payable - 1,869
Payment of capital lease obligations (91) -
Issuance of capital stock 1,011 1,431
-------------------------------------------------------------------------
Cash flows (used in) from financing activities (2,634) 1,594
-------------------------------------------------------------------------
Increase in Cash and Equivalents 2,272 3,088
Cash and Equivalents, beginning 8,754 5,666
-------------------------------------------------------------------------
Cash and Cash Equivalents, ending $ 11,026 $ 8,754
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Peer 1 Network Enterprises, Inc.
CONTACT: For media inquiries please contact: Abigail Faylor, Weber Shandwick, (425) 452-5497, afaylor@webershandwick.com; For investor inquiries please contact: Thomas McMillan, The Equicom Group, (403) 536-5903, tmcmillan@equicomgroup.com
Spectrum Control Reports Third Quarter ProfitEarnings per share up 13% from preceding quarter; Up 38% from the first quarter of this year
FAIRVIEW, Pa., Sept. 25 /PRNewswire-FirstCall/ --
FlashResults
Spectrum Control, Inc. (SPEC)
(Numbers in Thousands, Except
Per Share Data)
3rd quarter ended 3rd quarter ended
8/31/2008 YTD 8/31/2007 YTD
Sales $33,124 96,852 $35,418 101,863
Net Income 2,354 6,319 3,081 7,950
Average Shares 13,058 13,352 13,908 13,766
EPS $0.18 $0.47 $0.22 $0.58
Spectrum Control, Inc. , a leading designer and manufacturer of custom electronic products and systems, today reported results for the third quarter ended August 31, 2008.
For the third quarter of fiscal 2008, the Company reported net income of $2.4 million or 18 cents per fully diluted share on revenues of $33.1 million, compared to net income of $3.1 million or 22 cents per fully diluted share on sales of $35.4 million for the same period last year. For the first nine months of fiscal 2008, the Company reported net income of $6.3 million or 47 cents per fully diluted share on revenues of $96.9 million. For the comparable period of 2007, the Company reported net income of $8.0 million or 58 cents per fully diluted share on revenues of $101.9 million.
Dick Southworth, the Company's President and Chief Executive Officer, commented, "We are very pleased to report third quarter results that are consistent with our previous guidance, as well as being up sequentially from our prior two quarters. For the second consecutive quarter, we generated sequential improvement in revenues, operating margins, net income, and earnings per share. Despite ongoing challenges within our telecom equipment markets and growing concerns within the general economic climate, we have managed to resume revenue growth, while implementing numerous operating improvements to increase our profitability."
Increased Operating Margins
In the current quarter our gross margin was $8.6 million or 25.9% of sales, compared to $8.1 million or 24.8% of sales in the preceding quarter and $6.9 million or 22.0% of sales in the first quarter of this year. This increase in gross margin reflects improved production yields across virtually all of our businesses. In addition, we have made a strategic decision to maintain our production capacity and infrastructure to enable us to quickly and efficiently respond to our customers. Accordingly, as sales volumes have begun to grow, we have not needed to add any significant production capacity, allowing us to leverage our fixed manufacturing overhead and enhance our operating margins. This strategy remains a key element of our ongoing business model.
Improved Cash Flow
Net cash provided by operating activities in the current quarter grew to $4.4 million. This positive cash flow was primarily driven by reductions in our overall working capital requirements, along with our enhanced profitability. This improved operating cash flow enabled us to reduce our short-term bank borrowings by $2.0 million in the current quarter and repurchase on the open market 313,028 shares of our Common Stock at an aggregate cost of $2.4 million. During the nine month period ended August 31, 2008, we have repurchased a total of 756,395 shares of our Common Stock at an aggregate cost of $6.5 million. Under our Board of Directors current authorization, we may expend an additional $872,000 under our stock buyback program. The amount and timing of future share repurchases, if any, will be based on our ongoing assessment of the Company's capital structure, liquidity, and the market price of our Common Stock. We believe our ongoing stock buyback program is a positive reflection of our future business outlook and strong financial position.
Current Business Outlook
Mr. Southworth added, "Based on our current assessment of customer demand and our existing customer order backlog, we presently anticipate our 2008 fourth quarter sales to be $33.2 to $34.5 million. Based on this shipment level, we expect our 2008 fourth quarter earnings to be 19 to 21 cents per share. If these operating levels are achieved, we will have demonstrated sequential growth in revenue and profitability in each quarter throughout fiscal year 2008. On a longer-term basis, our strategy remains unchanged. We will continue to diversify our end markets, leverage our business infrastructure, and provide an increasing array of value-added products and solutions to our customers. With this strategy, we believe our Company is well-positioned for dynamic growth and enhanced shareholder value."
Forward-Looking Information
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors and risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
Simultaneous Webcast and Teleconference Replay
Spectrum Control, Inc. will host a teleconference to discuss its third quarter results on Thursday, September 25, 2008, at 4:45 p.m., Eastern Time. Internet users will be able to access a simultaneous webcast of the teleconference at http://www.spectrumcontrol.com/ or http://www.vcall.com/. A taped replay of the call will be available through September 26, 2008, at 877-660-6853, access account 286, conference 296554, or for 30 days over the Internet at the Company's website.
About Spectrum Control
Spectrum Control, Inc. is a leader in the design, development and manufacture of custom electronic products and systems for the defense, aerospace, communications, and medical industries worldwide. For more information about Spectrum Control and its products, please visit the Company's website at http://www.spectrumcontrol.com/.
Corporate Headquarters Investor Relations
8031 Avonia Road John P. Freeman, Senior Vice President
Fairview, PA 16415 and Chief Financial Officer
Phone: 814/474-2207 Spectrum Control, Inc.
Fax: 814/474-2208 Phone: 814/474-4310
Table Follows
Spectrum Control, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
( Unaudited )
( Dollar Amounts in Thousands )
August 31, November 30,
2008 2007
Assets
Current assets
Cash and cash equivalents $6,449 $5,183
Accounts receivable 23,336 25,461
Inventories 27,410 25,458
Deferred income taxes 1,332 1,332
Prepaid expenses and other
current assets 2,336 911
Total current assets 60,863 58,345
Property, plant and equipment, net 25,947 26,177
Noncurrent assets
Goodwill 35,669 35,669
Other 5,842 6,728
Total assets $128,321 $126,919
Liabilities and Stockholders' Equity
Current liabilities
Short-term debt $5,000 $2,000
Accounts payable 6,275 6,764
Income taxes payable 37 1,391
Accrued liabilities 4,533 4,813
Current portion of long-term debt 100 100
Total current liabilities 15,945 15,068
Long-term debt 942 1,031
Other liabilities 968 1,370
Deferred income taxes 7,911 7,582
Stockholders' equity 102,555 101,868
Total liabilities and
stockholders' equity $128,321 $126,919
Spectrum Control, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
( Unaudited )
( Amounts in Thousands, Except Per Share Data )
Three Months Ended Nine Months Ended
August 31, August 31,
2008 2007 2008 2007
Net sales $33,124 $35,418 $96,852 $101,863
Cost of products sold 24,532 25,320 73,329 74,830
Gross margin 8,592 10,098 23,523 27,033
Selling, general and
administrative expense 4,933 5,131 13,815 14,207
Income from operations 3,659 4,967 9,708 12,826
Other income ( expense )
Interest expense (105) (127) (244) (453)
Other income and expense, net 16 48 272 244
(89) (79) 28 (209)
Income before provision
for income taxes 3,570 4,888 9,736 12,617
Provision for income taxes 1,216 1,807 3,417 4,667
Net income $2,354 $3,081 $6,319 $7,950
Earnings per common share :
Basic $0.18 $0.23 $0.48 $0.60
Diluted $0.18 $0.22 $0.47 $0.58
Average number of common
shares outstanding :
Basic 12,980 13,411 13,192 13,336
Diluted 13,058 13,908 13,352 13,766
Spectrum Control, Inc. and Subsidiaries
Selected Financial Data
( Unaudited )
Three Months Ended Nine Months Ended
August 31, August 31,
Selected Financial Data, 2008 2007 2008 2007
as a Percentage of Net Sales :
Net sales 100.0 % 100.0 % 100.0 % 100.0 %
Cost of products sold 74.1 71.5 75.7 73.5
Gross margin 25.9 28.5 24.3 26.5
Selling, general and
administrative expense 14.9 14.5 14.3 13.9
Income from operations 11.0 14.0 10.0 12.6
Other income ( expense )
Interest expense (0.3) (0.3) (0.3) (0.4)
Other income and
expense, net - 0.1 0.3 0.2
Income before provision for
income taxes 10.7 13.8 10.0 12.4
Provision for income taxes 3.6 5.1 3.5 4.6
Net income 7.1 % 8.7 % 6.5 % 7.8 %
Selected Operating Segment Data :
( Dollar Amounts in Thousands )
Signal and power integrity
components :
Customer orders received $11,962 $14,337 $44,301 $44,145
Net sales 13,225 15,538 40,040 45,592
Microwave components and
systems :
Customer orders received 11,891 16,016 33,482 40,401
Net sales 11,483 12,641 32,230 35,454
Power management systems :
Customer orders received 1,641 1,974 7,812 5,770
Net sales 2,341 1,836 7,731 5,269
Sensors and controls :
Customer orders received 5,577 4,719 19,543 16,195
Net sales 6,075 5,403 16,851 15,548
Spectrum Control, Inc.
CONTACT: John P. Freeman, Senior Vice President and Chief Financial Officer of Spectrum Control, Inc., +1-814-474-4310
Web site: http://www.spectrumcontrol.com/
T. Rowe Price Introduces Enhanced Online Retirement Income Calculator For Those in Any Stage of Retirement Planning
BALTIMORE, Sept. 25 /PRNewswire-FirstCall/ -- T. Rowe Price has introduced a new retirement planning tool on its web site that enables those planning for, transitioning to, or in retirement to estimate their monthly retirement income with inflation adjustments.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080925/NETH049 )
Moreover, the interactive tool enables users to immediately see the impact on retirement income of changing various factors, such as the amount being saved, retirement age, number of years in retirement, asset allocation strategy, and, for retirees, the monthly amount they expect to spend.
The new Retirement Income Calculator (http://www.troweprice.com/ric) is far more robust than the web-based tool it replaces. Although the prior retirement planning tool was aimed only at those in or near retirement, it had been the most popular tool on the firm's web site.
The new tool calculates a projected monthly income stream throughout retirement for those in any phase of retirement planning, taking into account such factors as current savings, future savings in employer-sponsored retirement plans, as well as other tax-deferred and tax-exempt retirement accounts, and regular taxable accounts, Social Security and other sources of income, the expected number of years in retirement, and investment strategy before and after retirement. For couples, the calculator accommodates such data for each spouse.
Like its predecessor, the new Retirement Income Calculator also incorporates the firm's proprietary "Monte Carlo" methodology, providing personalized results based on 1,000 potential market simulations, assuming a certain probability that income will be sustained throughout the retirement period. This approach provides a more realistic and reliable estimate than simply projecting results based on an assumed average rate of return on an investment portfolio.
"The calculator is designed to provide users with maximum flexibility to determine if their current plans are on track to meet their financial needs during retirement," says Christine Fahlund, a T. Rowe Price senior financial planner. "And if their projected income in retirement falls short of what T. Rowe Price thinks is a reasonable goal from investments and Social Security (e.g., replacing 70% of pre-retirement income), investors can easily revise their assumptions and immediately see the impact on their results. By enabling users to see these tradeoffs, such as when to retire, how much to save, or how much to spend, the calculator is a helpful learning tool for retirement planning as well."
Planning for Retirement
For example, consider John and Mary Smith, a hypothetical 40-year-old couple that has already saved $300,000 for retirement and has a combined income of $180,000 annually. Together, they are investing 7% of their salaries in their employers' 401(k) plans. In addition, each invests $4,000 a year in a traditional Individual Retirement Account (IRA). Prior to retirement, the couple's portfolio is invested 80% in stocks and 20% in bonds. After retirement, they expect to become more conservative with 60% in stocks, 30% in bonds, and 10% in short-term fixed income securities. They plan to retire at age 62.
As reflected in the summary table provided by the calculator, their investments, along with Social Security income, could provide them with a monthly income of $7,654 in today's dollars, assuming a seven in ten probability that they will still have money in their portfolio at age 95.
However, they would need $10,500 to replace 70% of their pre-retirement income from their investments and Social Security combined, a gap of $2,846 a month. The calculator advises that they could close that gap by investing an additional $2,126 a month between now and retirement.
Alternatively, if they maintain their current savings rate but work until 65 instead of 62, their projected monthly income would be $9,399. If they work to 65 and increase their retirement plan contributions by $600 a month, their estimated monthly income in retirement is $10,379-closer to the 70% replacement rate T. Rowe Price suggests.
Transitioning to Retirement
Bill and Glenda Wilson are 58 and plan to retire at 63. Together they have a combined salary of $200,000 and are contributing 15% of their salaries to their companies' retirement plans. They have already saved $800,000. Mr. Wilson is also contributing $5,000 to an IRA.
Their current investment strategy has 60% allocated to stocks, 30% to bonds, and 10% to short-term fixed income securities (60/30/10) but they expect to invest more conservatively in retirement, changing their allocation to 20/40/40 at that time. They think they will need to spend about $10,000 a month including Social Security.
The calculator advises that they should consider reducing their spending goal to $6,877, assuming an 80% probability of their savings lasting to age 95. They decide that their retirement portfolio may be too conservative so they change it 40/40/20. Now, they will be able to spend a projected $7,055 a month. If they decide to continue working to age 67, they should be able to spend $9,637 a month, much closer to their spending goal.
Planning At Retirement
Richard and Ellen Jones are about to retire at 63. Together, they have saved $1.2 million, with a portfolio of 60% stocks, 30% bonds, and 10% short-term fixed income securities. They expect to need a monthly income of $6,000 including Social Security with the rest coming from their investments. The calculator advises that they could actually afford to spend $6,594 a month, assuming a 90% probability of still having money in their portfolio at age 95.
While the calculator is a useful planning tool, those seeking a personalized recommended strategy from T. Rowe Price should consider the firm's Advisory Planning Services program. A recommendation is provided after extensive consultation with a T. Rowe Price Advisory Counselor, who then assists clients with implementing their plan.
This ongoing service enables clients to re-run their analysis online at any time to ensure they are "on track" to meet their goals. The firm's Advisory Associates are always available by phone or appointment to offer financial planning guidance, and if changes are warranted, provide a new recommended strategy.
The advisory services are for investors who already have at least $100,000 in investment assets (at T. Rowe Price and/or elsewhere). The one-time $250 fee is waived for investors with $500,000 or more in assets with T. Rowe Price and is reimbursed for those who transfer at least $100,000 in new assets to the firm in connection with the service.
More information on these services is available at http://www.troweprice.com/advisoryservices or by calling 1-800-844-9424. Advisory Planning Services are services of T. Rowe Price Advisory Services, Inc., a federally registered investment adviser. Advisory Services is a subsidiary of T. Rowe Price Group.
Founded in 1937, Baltimore-based T. Rowe Price Group is a global investment management organization with $387.7 billion in assets as of June 30, 2008. T. Rowe Price Group provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries through other subsidiaries, which also offer a variety of sophisticated investment planning and investment guidance tools. Its disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. More information is available at http://www.troweprice.com/.
Explaining Monte Carlo Analysis Used in Retirement Calculator
Monte Carlo Simulation
Monte Carlo simulations model future uncertainty. In contrast to tools generating average outcomes, Monte Carlo analyses produce outcome ranges based on probability thus incorporating future uncertainty.
Material Assumptions Include:
-- Underlying long-term expected annual returns for the asset classes are
not based on historical returns, but estimates, which include reinvested
dividends and capital gains.
-- Expected returns plus assumptions about asset class volatility and
correlations with other classes are used to generate random monthly
returns for each asset class over specified time periods.
-- These monthly returns are then used to generate hundreds of scenarios,
representing a spectrum of possible performance for the modeled asset
classes. Success rates are based on these scenarios. Success rate is
defined as the percent of market simulations that result in a positive
balance at the end of the time horizon.
-- Taxes on withdrawals are not taken into account, nor are early
withdrawal penalties. But fees, average expense ratios for typical
actively managed funds within each asset class, are subtracted from the
expected annual returns.
-- Required minimum distributions (RMDs) are included. In the simulations,
if the RMD is greater than the planned withdrawal, the excess amount is
reinvested in a taxable account.
Material Limitations Include:
-- Extreme market movements may occur more often than in the model.
-- Some asset classes have relatively short histories. Expected results
for each asset class may differ from our assumptions with those for
classes with limited histories potentially diverging more.
-- Market crises can cause asset classes to perform similarly, lowering
the accuracy of projected portfolio volatility and returns. Correlation
assumptions are less reliable for short periods.
-- The model assumes no month-to-month correlations among asset class
returns. It does not reflect the average periods of "bull" and "bear"
markets, which can be longer than those modeled.
-- Inflation is assumed to be constant, so variations are not reflected in
our calculations.
-- The analysis assumes a diversified portfolio which is rebalanced on a
monthly basis. Not all asset classes are represented and other asset
classes may be similar or superior to those used.
Portfolio and Initial Withdrawal Amount:
The underlying long-term expected annual return assumptions (without fees) are 10% for stocks, 6.5% for bonds, and 4.75% for short-term bonds. Net-of-fee expected returns use these expense ratios: 1.211% for stocks, 0.726% for bonds, and 0.648% for short-term bonds. The portfolio is either determined by the user or based on preconstructed allocations that shift in 5% increments throughout the retirement horizon. The initial withdrawal amount is the percentage of the initial value of the investments withdrawn on the first day of the first year. In subsequent years, the amount withdrawn grows by a 3% annual rate of inflation. Success rates are based on simulating 1,000 market scenarios and various asset-allocation strategies.
IMPORTANT: The projections or other information generated by the T. Rowe Price Retirement Income Calculator regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. The simulations are based on assumptions. There can be no assurance that the projected or simulated results will be achieved or sustained. The results present only a range of possible outcomes. Actual results will vary with each use and over time, and such results may be better or worse than the simulated scenarios. Clients should be aware that the potential for loss (or gain) may be greater than demonstrated in the simulations.
The results are not predictions, but they should be viewed as reasonable estimates. Source: T. Rowe Price Associates, Inc.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080925/NETH049 PRN Photo Desk, photodesk@prnewswire.com
T. Rowe Price Group, Inc.
CONTACT: Steve Norwitz, +1-410-345-2124; Brian Lewbart, +1-410-345-2242; Robert Benjamin, +1-410-345-2205; or Heather McDonold, +1-410-345-6617, all of T. Rowe Price
Web site: http://www.troweprice.com/ric http://www.troweprice.com/ http://www.troweprice.com/advisoryservices
Media General Board Reduces Dividend
RICHMOND, Va., Sept. 25 /PRNewswire-FirstCall/ -- The Board of Directors of Media General today declared a quarterly dividend of 12 cents per common share, a decrease from the most recently declared dividend of 23 cents per share. The dividend is payable on December 15, 2008, to Class A and Class B shareholders of record on November 28, 2008.
"Today's action by the Board is a prudent response to the continued weak economic conditions impacting our businesses and industry, and allows cash flow to further reduce our debt. We remain positive on our position in our markets and we are continuing to take the necessary actions to implement our growth strategies to build shareholder value," said Marshall N. Morton, president and chief executive officer.
Forward-Looking Statements
This news release contains forward-looking statements that are subject to various risks and uncertainties and should be understood in the context of the company's publicly available reports filed with the Securities and Exchange Commission. Media General's future performance could differ materially from its current expectations.
About Media General
Media General is a leading provider of local news, information and entertainment over multiple media platforms. The company serves markets primarily in the Southeastern United States. Media General publishes 25 daily newspapers, including The Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal; and community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; plus approximately 275 weekly newspapers and other targeted publications. The company owns and operates 20 network-affiliated television stations that reach approximately 30 percent of the television households in the Southeast and nearly 9 percent of those in the United States. The company's interactive media operations include Web sites and portals that are associated with each of its newspapers and television stations as well as with many specialty publications, and two growing interactive advertising services companies, Blockdot, Inc. and DealTaker.com.
Media General
CONTACT: Investors, Lou Anne Nabhan, +1-804-649-6103, or Media, Ray Kozakewicz, +1-804-649-6748, both of Media General
Web site: http://www.mediageneral.com/
General Dynamics Awarded $26 Million Contract to Support Switzerland's F/A-18 Hornet Fleet
FAIRFAX, Va., Sept. 25 /PRNewswire-FirstCall/ -- General Dynamics Information Technology, a business unit of General Dynamics , was awarded a contract to provide program management services for the Swiss government's F/A-18 Hornet fighter fleet. The five-year contract was awarded to General Dynamics by the U.S. Naval Air Systems Command and has a total potential value of $25.7 million if all options are exercised.
Under this contract, General Dynamics will provide logistics, information technology (IT) and engineering support for global Swiss F/A-18 Hornet operations. Additionally, General Dynamics will provide communications management and training services to support the Swiss F/A-18 Hornet fleet.
"International air forces are turning to recognized global technology services leaders to enhance their operations and responsiveness," said Cresswell Elmore, General Dynamics Information Technology vice president of logistics for Navy/Air Force Systems. "General Dynamics' worldwide support for the Swiss F/A-18 Hornet fleet reflects our proven capabilities in providing international services and technology support."
The Swiss government acquired the F/A-18 Hornet fighters through the U.S. Foreign Military Sales program.
As a trusted systems integrator for more than 50 years, General Dynamics Information Technology provides information technology (IT), systems engineering and professional services to customers in the defense, intelligence, homeland security, federal civilian government and commercial sectors. With approximately 16,000 professionals worldwide, the company manages large-scale, mission-critical IT programs delivering IT services and enterprise solutions. More information about General Dynamics Information Technology is available at http://www.gdit.com/.
General Dynamics, headquartered in Falls Church, Va., employs approximately 84,600 people worldwide and anticipates 2008 revenues of approximately $29.5 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at http://www.generaldynamics.com/.
General Dynamics Information Technology
CONTACT: Mark Meudt of General Dynamics Information Technology, +1-703-246-0525, Fax, +1-703-246-0206, Mark.Meudt@gdit.com
Web site: http://www.gdit.com/ http://www.generaldynamics.com/
NutraCea, Wyclef Jean's Foundation Yele Haiti, the Voila Foundation and L'Athletique d'Haiti Team Up to Bring Nutrition Supplement RiSolubles(R) to Five Hundred Youth Soccer Players in Haiti
PHOENIX, Sept. 25 /PRNewswire-FirstCall/ -- NutraCea (BULLETIN BOARD: NTRZ) , a world leader in stabilized rice bran (SRB), nutrient research and technology, announced today an agreement with Yele Haiti, the foundation of Grammy Award winning Haitian-born artist and Goodwill Ambassador Wyclef Jean, the foundation for Haiti's leading cell phone company, Voila and Haitian sports program L'Athletique d'Haiti to provide nutrient-rich RiSolubles to five hundred youth soccer players from L'Athletique d'Haiti. RiSolubles, a 100% natural product, utilizes the nutrient-rich bran and germ portion of rice, providing a highly nutritional blend of protein, carbohydrates, fat and vitamins, providing energy and promoting bone and muscle development. 65% of the nutrients in rice are concentrated in the bran portion of the rice kernel. This program will provide RiSolubles to participating youth for a year.
"We are extremely delighted to be working with Wyclef Jean, Robert Duval and the Voila Foundation to bring these fine young aspiring athletes in Haiti's most impoverished section of the country a daily serving of our RiSolubles to help improve their athletic performance and provide a much needed nutritional boost to their daily dietary intake," said Margie Adelman, Senior Vice President of NutraCea. "The athletic ability of L'Athletique's athletes is promising and exceeds the capabilities of many of their stronger counterparts from other countries. RiSolubles will provide them with a competitive edge they need to succeed."
"The children of Haiti have so much talent and potential," said Wyclef Jean, founder of Yele Haiti. "With the NutraCea food supplement we are able to nourish that talent by improving the health of the kids in the L'Athletique d'Haiti project."
L'Athletique d'Haiti services youth from Haiti's most impoverished slums, notably, Cite Soliel. L'Athletique d'Haiti was created to provide youth with a means to develop confidence, self esteem and athletic abilities. The program, funded by Voila, will be made possible with management from Haitian born internationally known recording artist Wyclef Jean through Yele Haiti, a foundation he founded to support projects that are making a difference in education, sports, music, environment and community development.
"Because of being undernourished, many of our kids are underweight and shorter than kids their own age. However, we are training hard to compete among top athletes in the world and we are very eager to see how NutraCea can help us achieve our goals. The children and I are very grateful for the forces that came together to allow us to receive this blessing of food that will help nourish them and make them stronger to compete at a higher level," said Robert Duval, Founder and Director of L'Athletique d'Haiti.
About Yele Haiti
Yele Haiti is a movement founded by Wyclef Jean that is helping to bring hope back to Haiti. Projects are designed to make a difference in the fields of education, health, environment and community development. The power and reach of music, sports and the media is used to increase the impact of these projects. http://www.yele.org/.
About Communication Cellulaire d'Haiti S.A. (ComCEL) d/b/a/ Voila and the Voila Foundation
Comcel launched services in Haiti in 1999, and provides high-quality affordable wireless service throughout Haiti under the Voila brand name. Service offerings include pre-paid, post-paid, public telephony and fixed wireless. The Voila Foundation's program, Education For Success, has affected thousands and thousands of young lives through this platform. Voila believes there is an obligation to back to the community in which it does business in ways that provide sustainable and long lasting developmental tools. Information about Voila can be found at http://www.comcelhaiti.com/ and http://www.familyinthe509.com/.
About L'Athletique d'Haiti
Robert Duval is the founder and director of L'Athletique d'Haiti. Since its inception L'Athletique d'Haiti has developed an institution with the sole objective of empowering athletes and coaches to develop their talent to the fullest. Beginning with children at the age of 6, L'Athletique d'Haiti provides them with the opportunity to play sports. L'Athletique focuses on soccer, basketball and track, training a large percentage of all the athletes in Haiti who participate in the country's national games, the highest level of organized sports that exist in the country.
About NutraCea
NutraCea is a world leader in production and utilization of stabilized rice bran. They hold many patents for stabilized rice bran production technology and proprietary neutraceutical formulas ranging from arthritis, chronic bowel conditions, and effective diabetes control to cardiovascular disease treatment protocols. NutraCea's proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally a waste by-product of standard rice processing. Committed to helping the under fed, they're heavily involved in providing product and technology for developing countries through NutraCea's RiceAde feeding program. More information can be found in the Company's filings with the SEC and you can visit the NutraCea web site http://www.nutracea.com/. For more information on RiSolubles, go to http://www.nutracea.com/NutraCeaStore.
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the pending matters considered by the Company may not proceed as contemplated and the matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the company's most recent periodic report.
Company Contact:
Margie Adelman
Senior V.P. NutraCea
916-933-7000 Ext. 646
602-663-4767 cell
madelman@nutracea.com
Contact for Voila
Gwynne Beatty
US cell 917-992-9517
Gwynne.beatty@trilogy-international.com
NutraCea
CONTACT: Margie Adelman, Senior V.P. of NutraCea, +1-916-933-7000, Ext. 646, cell, +1-602-663-4767, madelman@nutracea.com; or Gwynne Beatty of Voila, US cell, +1-917-992-9517, Gwynne.beatty@trilogy-international.com
Web site: http://www.nutracea.com/ http://www.comcelhaiti.com/ http://www.yele.org/ http://www.familyinthe509.com/
Le réseau de distribution du service haut débit Tooway(TM) d'Eutelsat monte en puissance en France avec numeo
PARIS, September 25 /PRNewswire/ -- Eutelsat Communications (Euronext Paris : ETL) annonce
l'extension du réseau de distribution du service Tooway(TM) en France par la
signature d'un accord avec Numéo SA. Le service Tooway(TM) d'Eutelsat offre
un accès à haut débit par satellite pour les particuliers n'étant pas
éligibles à l'ADSL.
Numéo, spécialiste des services Internet en zone rurale,
commercialise depuis 2004 des offres Wi-Fi et Wimax en zone blanche. En
s'appuyant localement sur les Réseaux d'Initiative Publique, la société
propose déjà des offres dans plus de 30 départements. Elle élargit
aujourd'hui son portefeuille de solutions en y ajoutant le haut débit par
satellite avec Tooway(TM), qu'elle va immédiatement mettre sur le marché à
partir de 29,90 euros par mois dans le cadre de ses offres << la meilleure
technologie pour chacun >>.
Tooway(TM) est un service en bande Ka fourni en France via le
satellite HOT BIRD(TM) 6 d'Eutelsat dont le faisceau régional à grande
puissance assure une couverture intégrale du territoire. Skylogic, la filiale
haut débit d'Eutelsat, en assure l'exploitation depuis son téléport SkyPark
de Turin, en Italie.
<< Nous avons étudié avec le plus grand soin toutes les
solutions bidirectionnelles par satellite existantes, et nous avons
sélectionné celle conjuguant une puissance élevée et un prix raisonnable pour
nos clients qui ne peuvent bénéficier des autres technologies ADSL, Wimax ou
Wifi >> a déclaré François-Michel Richiardi, Président-Directeur général de
Numéo SA. << La haute performance, la simplicité de déploiement et
l'extensibilité du service Tooway(TM), de même que les perspectives ouvertes
par le satellite KA-SAT, qui assurera à partir de 2010 un niveau de
ressources et d'efficacité exceptionnel, nous ont convaincus de coopérer avec
le leader du haut débit par satellite en Europe. Grâce à Tooway(TM), nous
sommes désormais en mesure de proposer un complément valable pour ne laisser
personne sans accès à un haut débit de qualité. >>
<< Ce nouveau contrat montre que Tooway(TM) est un premier
choix pour les partenaires qui mettent la qualité de service au coeur de
leurs priorités, >> a déclaré Arduino Patacchini, Directeur général de
Skylogic et Directeur Multimédia d'Eutelsat. << Nous nous réjouissons de voir
s'étendre la distribution de Tooway(TM) en France avec Numéo. D'ores et déjà
présent dans 14 pays d'Europe, notre service Tooway(TM) s'affirme comme le
meilleur complément des réseaux terrestres pour tous les opérateurs qui
souhaitent étendre la base de leurs abonnés à l'ensemble des foyers situés
dans les zones blanches .>>
Lancé en 2007 dans le cadre de l'engagement soutenu d'Eutelsat
à développer des solutions de complément des réseaux terrestres pour réduire
la fracture numérique, le service Tooway(TM) est basé sur la technologie
SurfBeam DOCSIS(R) de ViaSat, son partenaire principal pour des services haut
débit. Opérant dans la bande Ka, ce service rend l'Internet par satellite
accessible à des prix et débits comparables à l'ADSL. Avec la mise en service
en 2010 du satellite KA-SAT et du réseau au sol correspondant, Tooway(TM)
pourra desservir des foyers à travers toute l'Europe et le bassin
méditerranéen. La capacité de plus de 70 Gbit/s de KA-SAT marquera un
tournant majeur dans la fourniture de services d'accès IP par satellite,
permettant de desservir plus d'un million de foyers avec un seul satellite.
Pour plus d'information sur Numéo
Lydie Boiteux
Tél : +33-(0)4-88-68-21-01
lboiteux@numeo.fr
http://www.numeo.fr
A propos d'Eutelsat Communications
Eutelsat Communications (Euronext Paris : ETL, code ISIN : FR0010221234)
est la société holding d'Eutelsat S.A. Avec des ressources en orbite sur 24
satellites offrant une couverture sur toute l'Europe, le Moyen-Orient,
l'Afrique et l'Inde, et sur de larges zones de l'Asie et du continent
américain, Eutelsat est l'un des trois premiers opérateurs mondiaux de
satellites en terme de chiffre d'affaires. Au 30 juin 2008, la flotte des
satellites d'Eutelsat assure la diffusion de plus de 3 120 chaînes de
télévision et 1 100 stations de radio. Plus de 1 100 programmes de télévision
sont diffusés par les satellites HOT BIRD(TM) à la position orbitale 13
degrés Est vers une audience de plus de 120 millions de foyers en Europe,
Moyen-Orient et Afrique du Nord. La flotte d'Eutelsat sert également une
large gamme de services fixes et mobiles de télécommunication et de diffusion
de données pour les réseaux vidéo professionnels et les réseaux d'entreprise,
ainsi qu'un portefeuille d'applications de services haut débit pour les
fournisseurs d'accès Internet, les collectivités locales ainsi que pour les
transports routiers, maritimes et aériens. Skylogic, filiale d'Eutelsat,
assure l'exploitation et la commercialisation de services de haut débit via
son téléport, en Italie (Turin). Skylogic commercialise ses services en
Europe, en Afrique, en Asie et sur le continent américain. Eutelsat, dont le
siège est à Paris, regroupe 538 hommes et femmes issus de 27 pays.
http://www.eutelsat.com
http://www.tooway.com
http://www.eutelsat.com
Pour plus d'information
Contacts Presse
Vanessa O'Connor
Tel: +33-1-53-98-38-88
voconnor@eutelsat.fr
Frédérique Gautier
Tel: +33-1-53-98-38-88
fgautier@eutelsat.fr
Relations investisseurs
Gilles Janvier
Tel: +33-1-53-98-35-35
investors@eutelsat-communications.com
Eutelsat Communications
Pour plus d'information sur Numéo: Lydie Boiteux, Tél : +33-(0)4-88-68-21-01, lboiteux@numeo.fr. Pour plus d'information: Contacts Presse, Vanessa O'Connor, Tel: +33-1-53-98-38-88, voconnor@eutelsat.fr; Frédérique Gautier, Tel: +33-1-53-98-38-88, fgautier@eutelsat.fr. Relations investisseurs: Gilles Janvier, Tel: +33-1-53-98-35-35, investors@eutelsat-communications.com
Lockheed Martin Announces Increase of Additional 30 Million Shares to Existing Share Repurchase Authority
BETHESDA, Md., Sept. 25 /PRNewswire-FirstCall/ -- Lockheed Martin Corporation today announced that its Board of Directors has authorized the purchase of up to an additional 30 million shares of Lockheed Martin common stock under its existing share repurchase program.
The company's share repurchase program was initiated in October 2002. Through June 29, 2008, the company had repurchased a total of 113.9 million shares, out of the existing share authorization of 128 million shares under the program. In the first six months of 2008, Lockheed Martin repurchased 18.6 million shares under the program. As of June 29, the company had approximately 396 million shares of common stock outstanding. The number of shares purchased and the timing of purchases under the program are at the discretion of management and are to be made in compliance with applicable law and regulation. Shares may be purchased in the open market or in privately negotiated transactions.
Earlier in the day, the Corporation announced that its Board of Directors authorized a dividend increase of 36 percent or $0.15 per-share.
With this increase, the company's quarterly dividend will be $0.57 per-share. The dividend is payable Dec. 26, 2008 to holders of record as of Dec. 1, 2008.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.
For additional information, visit our website: http://www.lockheedmartin.com/
Lockheed Martin Corporation
CONTACT: Media: Jeff Adams, Director, Media Relations, +1-301-897-6308, or Investor Relations: Jerry Kircher, Vice President, Investor Relations, +1-301-897-6584, or Shamala Littlefield, Director, Investor Relations, +1-301-897-6455, all of Lockheed Martin Corporation
Web site: http://www.lockheedmartin.com/
Company News On-Call: http://www.prnewswire.com/comp/534163.html
More TV Choice and Competition Near for Residents of Mansfield, Mass.Town Approves Video License for Verizon; Thousands More Households Soon Can Get FiOS TV
MANSFIELD, Mass., Sept. 25 /PRNewswire/ -- Residents of Mansfield are a major step closer to having another choice for their cable television services, thanks to a newly approved agreement authorizing Verizon to offer its FiOS TV service via the most advanced all-digital, fiber-optic network straight to customers' homes.
The Board of Selectmen in Mansfield granted a cable franchise to Verizon Wednesday (Sept. 24), paving the way for video choice for thousands more Massachusetts households.
The vote of the board brings to 81 the total number of Massachusetts communities where Verizon's FiOS TV is or will soon be available.
"We are thrilled to be able to bring FiOS TV to residents in Mansfield," said Donna Cupelo, Verizon region president for Massachusetts and Rhode Island. "Since the launch of FiOS TV in Massachusetts last year, we are continuing our efforts to meet the consumer demand for cable TV choice."
FiOS TV is the company's new fiber-optic television service, which offers a better-quality picture, more high-definition and on-demand programs, and more reliable service at competitive prices.
"As a result of this new franchise, consumers in Mansfield will be able to choose their cable provider as easily as they choose their phone company," said Cupelo. "Competition drives innovation, value and service quality, and it puts the consumer in control."
Verizon is currently in negotiations with several other communities in Massachusetts to obtain additional FiOS TV franchises. For more information on the Verizon franchise process in the state, log on to http://www.verizon.com/ma.
Verizon research indicates 87 percent of Massachusetts residents favor more competition and choice for video services. Independent studies have shown that competition in the video market brings enormous benefits to consumers in the form of reduced prices, better packages and improved service.
The Mansfield franchise agreement contains provisions for the network's future growth; financial support and capacity for educational and government access channels; cable service to government buildings; and other important benefits to the towns, including insurance, indemnification and enforcement protections.
"Verizon will compete aggressively for subscribers in Mansfield with our FiOS services, which are fueled by our lightning-fast fiber-optic network," Cupelo said. Verizon soon will begin its door-to-door sales campaign in both communities, explaining to local consumers the many advantages of FiOS TV.
Verizon is the first company to offer a fiber-to-the premises (FTTP) network, connecting homes and businesses directly to fiber optics on a widespread scale.
FiOS TV offers a broad collection of all-digital programming, 85 high-definition channels, thousands of video-on-demand titles and more. Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen.
In addition to FiOS TV, Verizon's fiber network also allows the company to offer consumers and businesses high-speed FiOS Internet service at download speeds up to 50 Mbps (megabits per second) and upload speeds up to 20 Mbps.*
* NOTE: actual (throughput) speeds will vary.
[In Massachusetts, FiOS TV is available in Abington, Acton, Andover, Arlington, Ashland, Bedford, Belmont, Boxborough, Boxford, Braintree, Burlington, Canton, Dedham, Dunstable, Framingham, Franklin, Georgetown, Hamilton, Hingham, Holliston, Hopkinton, Ipswich, Lakeville, Lawrence, Lincoln, Littleton, Lexington, Lynn, Lynnfield, Malden, Marion, Marlborough, Marshfield, Mattapoisett, Medfield, Medway, Melrose, Methuen, Middleborough, Millbury, Nahant, Natick, Needham, Newton, Norfolk, North Andover, North Reading, Northborough, Norwood, Plymouth, Reading, Rochester, Rockland, Rowley, Sherborn, Southborough, Stoneham, Stoughton, Stow, Sudbury, Sutton, Swampscott, Taunton, Tewksbury, Topsfield, Tyngsborough, Wakefield, Walpole, Waltham, Wareham, Wayland, Wellesley, Wenham, West Newbury, Westborough, Westwood, Wilmington, Winchester and Woburn. Verizon also has a TV franchise in Bellingham, Mass. FiOS TV also is available in parts of New York, New Jersey, California, Delaware, Texas, Florida, Indiana, Maryland, Oregon, Pennsylvania, Rhode Island, Virginia and Washington.]
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Rick Colon, +1-781-849-2046, richard.b.colon@verizon.com, or Phil Santoro, +1-617-743-4760, philip.g.santoro@verizon.com, both of Verizon
Web Site: http://www.verizon.com/ http://www.verizon.com/ma
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Distribution Network for Eutelsat's Tooway(TM) Broadband Service Gathers Speed With Numeo in France
PARIS, September 25 /PRNewswire-FirstCall/ -- Eutelsat Communications (Euronext Paris: ETL) today announced the expansion in France of the distribution network of its Tooway(TM) service with the signature of an agreement with Numeo S.A.. Eutelsat's innovative Tooway(TM) service offers a fully satellite-based broadband solution to consumers beyond range of ADSL networks.
Numeo, a specialist provider of Internet services for rural areas, has been marketing wireless broadband access solutions for underserved areas since 2004, and commercialises the offers of Public Initiative Networks in more than 30 French departments. The company is now expanding its portfolio of broadband solutions with the Tooway(TM) satellite broadband service, which it will immediately market as "the best technology for everyone" from 29.90 euros per month.
Tooway(TM) is provided through Ka-band capacity on Eutelsat's HOT BIRD(TM) 6 satellite which provides full coverage of France via a high-power regional beam. The service is operated by Skylogic, Eutelsat's broadband affiliate, from its SkyPark teleport in Turin.
"We very carefully examined the full range of existing two-way satellite solutions and selected the one offering high power at an affordable price for our customers who cannot reach ADSL, Wimax or Wifi," said Francois-Michel Richiardi, Chairman and CEO of Numeo S.A. "The high performance and simplicity of Tooway(TM) in terms of deploying and expanding the service, as well as the expansion that will come in 2010 with the exceptional level of resources and efficiency of Eutelsat's KA-SAT satellite, convinced us to cooperate with Europe's market leader for satellite broadband. Thanks to Tooway(TM) we are now in a position to ensure no one is deprived of high-quality broadband."
"This new contract clearly shows that Tooway(TM) is the first choice for partners rating quality of service is a key expectation," said Arduino Patacchini, CEO of Skylogic and Multimedia Director of Eutelsat. "Now available in 14 countries across Europe, Tooway(TM) represents the best complement to terrestrial networks for operators who are seeking to extend their subscriber base to homes beyond range of ADSL."
Tooway(TM) was launched in 2007 as part of Eutelsat's commitment to developing broadband services to bridge the digital divide. The service is based on the SurfBeam DOCSIS(R) technology developed by ViaSat, Eutelsat's longstanding broadband partner. Through the use of Ka-band frequencies Tooway(TM) can deliver a broadband experience comparable to ADSL in terms of speed and price. In 2010, with the entry into service of Eutelsat's KA-SAT satellite and associated ground infrastructure Tooway(TM) will be able to deliver high-speed Internet services to homes throughout Europe and the Mediterranean Basin. KA-SAT's exceptional throughput of more than 70 Gigabits per second marks a turning point in satellite broadband, enabling over one million homes to be served by a single satellite.
For more information on Numeo please contact:
Lydie Boiteux
Tel +33-4-88-68-21-01
lboiteux@numeo.fr
http://www.numeo.fr/
About Eutelsat Communications
Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the holding company of Eutelsat S.A.. With capacity commercialised on 24 satellites that provide coverage over the entire European continent, as well as the Middle East, Africa, India and significant parts of Asia and the Americas, Eutelsat is one of the world's three leading satellite operators in terms of revenues. At 30 June 2008, Eutelsat's satellites were broadcasting more than 3,120 television channels and 1,100 radio stations. More than 1,100 channels broadcast via its HOT BIRD(TM) video neighbourhood at 13 degrees East which serves over 120 million cable and satellite homes in Europe, the Middle East and North Africa. The Group's satellites also serve a wide range of fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsat's broadband subsidiary, Skylogic, markets and operates services through its teleport in Italy that serves enterprises, local communities, government agencies and aid organisations in Europe, Africa, Asia and the Americas. Headquartered in Paris, Eutelsat and its subsidiaries employ 538 commercial, technical and operational experts from 27 countries.
http://www.eutelsat.com/
http://www.tooway.com/
For further information:
Press:
Vanessa O'Connor
Tel: +33-1-53-98-38-88
voconnor@eutelsat.fr
Frederique Gautier
Tel: +33-1-53-98-38-88
fgautier@eutelsat.fr
Investors:
Gilles Janvier
Tel: +33-1-53-98-35-30
investors@eutelsat-communications.com
Eutelsat Communications
CONTACT: For further information: Press: Vanessa O'Connor, Tel: +33-1-53-98-38-88, voconnor@eutelsat.fr; Frederique Gautier, Tel: +33-1-53-98-38-88, fgautier@eutelsat.fr; Investors: Gilles Janvier, Tel: +33-1-53-98-35-30, investors@eutelsat-communications.com
FailSafe Solutions, LLC. Announces Intent to Merge with Hybrilonics, Inc.
NEW YORK, Sept. 25 /PRNewswire/ -- FailSafe Solutions LLC, developers of automated network management solutions, announced its intent to enter into a reverse merger with Hybrilonics, Inc. [HBLC], a pink-sheet listed shell company. The merger will enable FailSafe, an Israeli high tech company, to broaden its access to much needed expansion capital as a public entity while Hybrilonics, Inc. will become vested in a high tech company that is ready to launch in the U.S. market.
FailSafe Solutions develops the RITS (Robotic IT Solution) system that significantly lowers the TCO (Total Cost of Ownership) of PCs and networks. The TCO of PCs and networks have steadily increased over the last few years, and are expected to continue to rise in the future due to the escalating costs of the human resources required to support them. The RITS automates much of the manual IT professional's tasks, such as maintenance, problem resolution, and storage support functions.
FailSafe's founder and CEO, Adam Tannenbaum, notes, "After years of development we have refined our technology so that it can benefit small and mid-sized businesses, whether used by internal staff or by their IT consultants. We are now ready to launch in the U.S. and look forward to being able to leverage our merger with Hybrilonics, Inc. as a vehicle for attracting expansion capital."
President of Hybrilonics, Inc., Lawrence Doherty is pleased with the prospect of the merger. "We have been searching for the right technology company for which we can leverage our corporate shell. FailSafe is at the right stage -- its technology is developed and ready to be sold."
Plans began in early 2008 and are continuing as FailSafe and Hybrilonics, Inc. continue to work out administrative details. FailSafe Solutions LLC has also announced the opening of offices in the New York area with showrooms to demonstrate the power of the RITS, its Robotic IT Solution. Customers who have previewed the demonstrations commented on the wealth of applications and innovative solutions provided by the RITS.
About the companies:
FailSafe Solutions LLC develops a network management device called the RITS (Robotic IT Solution) that automates much of the manual IT professional's tasks, such as maintenance, problem resolution, and storage support functions. The RITS greatly increases productivity by establishing a stable network and reducing the need for calling helpdesk or IT professionals. The RITS also provides IT managers with the information and tools that they need in order to maximize efficiency with limited IT budgets.
The RITS is a self-contained device that includes its own platform and a robust, mission-critical operating system, making it far more reliable than a software-only solution that is dependent on the network server. The RITS' systems management and support functions are strongly interrelated which provides superior results when compared to separate solutions for each function offered by alternative software applications. For more information, please visit http://www.theritstechnologies.com/
Hybrilonics, Inc. Is a non-reporting, Delaware Corporation, formerly traded under the symbol HBLC - "pink sheets". Hybrilonics, Inc. became a shell corporation by way of an asset sale and distribution to its shareholders.
Certain statements contained in this release may contain forward-looking information with respect to plans, projections or future performance of the Company. By nature, forward-looking statements involve certain risks.
FailSafe Solutions LLC
CONTACT: Lawrence Doherty, President of Hybrilonics, Inc., +1- 212-935-9411; or Adam Tannenbaum, Chief Executive Officer of FailSafe Solutions LLC, +1-347-702-1154
Web site: http://www.failsafesolutions.com/ http://www.theritstechnologies.com/
CardioDynamics Announces Third Quarter 2008 Conference Call and Webcast
SAN DIEGO, Sept. 25 /PRNewswire-FirstCall/ -- CardioDynamics , the innovator and leader of Impedance Cardiography (ICG) technology, has scheduled a conference call and Internet webcast for Thursday, October 9, 2008, at 4:30 p.m. EDT to discuss the Company's financial results for third quarter 2008. The call will be hosted by CardioDynamics' Chief Executive Officer, Michael Perry, and Chief Financial Officer, Steve Loomis. A press release announcing third quarter 2008 results will be available after close of market on October 9, 2008.
Conference Call and Webcast Information:
To access the conference call, dial 800-346-7359 (Code 7784). International participants can call 973-528-0008 (Code 7784). A replay of the call will be available for 30 days following the call at 800-332-6854 (Code 7784). The international replay number is 973-528-0005 (Code 7784). The Internet webcast can be accessed at:
http://phx.corporate-ir.net/phoenix.zhtml?c=86923&p=irol-irhome
Any questions regarding this notice should be directed to Emma Brejwo at 800-778-4825, ext. 1031, or via e-mail, ebrejwo@cdic.com.
About CardioDynamics:
CardioDynamics , the ICG Company, is the innovator and leader of an important medical technology called BioZ(R) Impedance Cardiography (ICG). The Company develops, manufactures and markets noninvasive BioZ(R) ICG products and ICG electrodes. The Company's BioZ(R) ICG Systems are being used by physicians around the world to help battle the number one killer of men and women -- cardiovascular disease. Partners include GE Healthcare, Philips Medical Systems, and Mindray. For additional information, please refer to the company's Web site at http://www.cdic.com/.
CardioDynamics
CONTACT: Emma Brejwo, Investor Relations Associate, CardioDynamics, +1-800-778-4825, Ext. 1031, ebrejwo@cdic.com
Web site: http://www.cdic.com/
Optelecom-NKF Adds Sales Executive
GERMANTOWN, Md., Sept. 25 /PRNewswire-FirstCall/ -- Optelecom-NKF, Inc. , a leading global supplier of advanced video surveillance solutions, today announced Charles L. Queri has joined the Company as its Director of Sales for the Americas. In that capacity Mr. Queri is responsible for driving overall sales growth of Optelecom-NKF solutions and services in the U.S. and across North and South America.
An accomplished executive with deep sales expertise and diverse general management experience, Queri has delivered consistent top-line achievement and demonstrated success in team development and cross-functional project leadership in both small, rapidly growing companies and large corporate entities.
"Chuck is a key addition to our team," commented Roland Hooghiemstra, Optelecom-NKF's Vice President of Sales and Marketing. "He has been instrumental in building sales organizations and boosting revenue at several businesses. His skill in promoting growth was one of the key factors we considered in bringing him on board. Chuck has the drive and focus necessary to help make us the dominant complete solution provider to the video surveillance marketplace."
Prior to joining Optelecom-NKF Mr. Queri was Director of Sales for Primas Software. He also held executive or senior positions with US LEC, where he helped grow regional revenue more then tenfold, with On-Site Access, and Intermedia Communications. Mr. Queri began his career with Siemens Communications where he held a number of sales and sales management positions of increasing responsibility.
About Optelecom-NKF
Optelecom-NKF, Inc. , is a global supplier of advanced video surveillance solutions, including IP cameras, video servers/codecs, network video recorders, fiber transmission equipment, video management and video analytics software. We deliver complete solutions for traffic monitoring and security of airports, seaports, casinos, prisons, utilities, public transit, city centers, hospitals, and corporate campuses.
Founded in 1972, Optelecom-NKF is committed to providing its customers with expert technical advice and support in addition to products that are developed and tested for professional and mission critical applications. All Optelecom-NKF IP surveillance solutions are marketed under the Siqura(R) name.
The Optelecom-NKF corporate headquarters is in Germantown, Maryland, USA, with European corporate offices in Gouda, the Netherlands, and sales offices or support covering Latin America, France, Spain, the UK, Germany, Italy, Dubai, and Singapore.
Investor inquiries should be directed to Mr. Rick Alpert at +1 301-948-7872.
Optelecom-NKF, Inc.
CONTACT: Rick Alpert of Optelecom-NKF, Inc., +1-301-948-7872
Web site: http://www.optelecom-nkf.com/
Northrop Grumman Wins Orders to Supply Integrated Bridge Systems for Novoship Newbuilds
LONDON, September 25 /PRNewswire/ --
Northrop Grumman Corporation's (NYSE: NOC) Sperry Marine business unit
has been selected by Novorossiysk Shipping Company (Novoship) to supply
integrated bridge systems (IBS) for ten new tankers being built in Korea and
China.
The newbuilds include four 112,000 deadweight ton (dwt) tankers at
Hyundai Heavy Industries in Korea and six 156,000 dwt tankers at Nantong
Rongsheng in China, for delivery in 2008-2009. Each of the ships is being
fitted with a complete navigation suite that includes radars, electronic
chart display and information system, digital adaptive autopilot, steering
controls, gyrocompasses, voyage data recorder, automatic identification
system and other associated sensors and systems. All equipment meets or
exceeds International Maritime Organization (IMO) performance standards.
"Novoship joins the growing number of shipowners to take advantage of our
next-generation VisionMaster FT(TM) technology," said J. Nolasco DaCunha,
vice president, Sperry Marine. "Since their introduction in 2006, the
VisionMaster FT products have clearly become the benchmark for marine
navigation technology, in terms of system integration and human-machine
interface."
Novoship selected Sperry Marine as the single responsible supplier for
the ships' navigation and communication systems following a competitive
analysis of IBS suppliers. The selection was based on Sperry Marine's
extensive experience and expertise, backed by worldwide availability of
service and spares, according to a Novoship spokesman. Sperry Marine will
provide engineering support for installation, commissioning and sea trials
through its offices in Korea and China.
Novoship, a member of the Sovcomflot Group, is one of the largest
shipping companies in the world, with a fleet of 52 vessels aggregating 4
million dwt. The current market value of the fleet is around USD $2.9
billion. Novoship's modern tanker fleet has an average age of less than seven
years. Novoship has a total of 16 new vessels on order representing 1.5
million dwt.
Sperry Marine, headquartered in Charlottesville, Va., and with major
engineering and support offices in New Malden, United Kingdom and Hamburg,
Germany, provides smart navigation and ship control solutions for the
international marine industry with customer service and support through
offices in 16 countries, sales representatives in 47 countries and authorized
service depots in more than 250 locations worldwide.
Northrop Grumman Corporation is a global defense and technology company
whose 120,000 employees provide innovative systems, products, and solutions
in information and services, electronics, aerospace and shipbuilding to
government and commercial customers worldwide.
For commercial sales inquiries, contact Northrop Grumman Sperry Marine by
phone, +1-434-974-2656 or by e-mail, sales_commercial@sperry.ngc.com. For
military sales inquiries, call +1-434-974-2134 or e-mail
sales_military@sperry.ngc.com. Visit our Web site at
http://www.sperrymarine.northropgrumman.com.
Web site: http://www.sperrymarine.northropgrumman.com
http://www.northropgrumman.co.uk
Northrop Grumman Corporation
Ken Beedle, mobile, +44-7787-174092, or +44-207-747-1910, ken.beedle@euro.ngc.com; or Tom Delaney, +1-410-993-6454, thomas.delaney@ngc.com, both of Northrop Grumman Corporation
New York Air National Guard LC-130 Equipped With Hamilton Sundstrand NP2000 Propellers Achieves First Operational Flight
WINDSOR LOCKS, Conn., Sept. 25 /PRNewswire-FirstCall/ -- A New York Air National Guard 109th Airlift Wing LC-130 aircraft equipped with Hamilton Sundstrand NP2000 propellers took its first operational flight on Tuesday, Sept. 16, from the unit's base in Scotia, N.Y. The aircraft is the first of 12 New York Air National Guard C-130s planned for retrofit with Hamilton Sundstrand NP2000 propellers. Hamilton Sundstrand is a subsidiary of United Technologies Corp. .
The 109th Airlift Wing will fly the NP2000-equipped LC-130 on a mission to Antarctica in November. The 109th Airlift Wing flies U.S. Air Force's only ski-equipped LC-130s, which are capable of operating off polar snows and ice as well as from conventional and unimproved runways. The 109th's missions include support of scientific research on the Greenland icecap and in Antarctica and Aeromedical Evacuation from front-line combat zones and remote emergency sites worldwide.
The New York Air National Guard LC-130's first operational flight with NP2000 propellers follows a five-month flight test program in which NP2000 propellers were installed on a Wyoming Air National Guard C-130. The results showed NP2000 propellers provide similar aircraft handling and offer better performance than 54H60 propellers. The NP2000 propellers reduce external and cabin noise, lower vibration, and offer better reliability while reducing fuel consumption. Hamilton Sundstrand's NP2000 propeller system has also performed successfully in previous flight tests on a Snow Aviation, Inc. C-130E. The U.S. Navy has realized these benefits as it currently employs the NP2000 on its fleet of E-2C Hawkeye aircraft.
"After a year of successfully flying our electronic propeller control upgrade on this LC-130, we are pleased to see the benefits of propeller modernization begin for this operational unit," said Robert Schechtman, business development manager of Hamilton Sundstrand's propulsion business. "The NP2000 propeller system brings many benefits to C-130 users including shorter take-off roll, improved climb, quieter operations, and lower operating and support costs."
With 2007 revenues of $5.6 billion, Hamilton Sundstrand employs approximately 19,000 people worldwide and is headquartered in Windsor Locks, Conn. Among the world's largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide.
Contact: Dan Coulom
860-305-5471
Hamilton Sundstrand
Contact: Dan Coulom of Hamilton Sundstrand, +1-860-305-5471
Web site: http://www.hamiltonsundstrandcorp.com/
Geeks On Call(R) Presents at National Investment Banking Association 2008 Capital Conference in Chicago
NORFOLK, Va., Sept. 25 /PRNewswire-FirstCall/ -- Geeks On Call Holdings, Inc. (BULLETIN BOARD: GOCH) , a premier national provider of professional IT solutions to small business and residential customers through its national network of franchise and Company-owned locations under the trade names Geeks On Call(R), 1-800-905-GEEK(TM), Call The Geeks(TM) and CallTheGeeks.com(TM), announced today that the Company's Chairman and CEO, Richard Cole, will be presenting at the National Investment Banking Association, Inc. (NIBA) Capital Conference in Chicago.
The National Investment Banking Association is a national trade association of national, regional and independent broker dealers, investment banking firms, investment advisor companies, and related capital market service providers.
The NIBA 2008 Capital Conference is a premier forum for quality small capital companies seeking access and exposure to underwriters and broker/dealers in connection with their capital formation and other financial objectives.
About Geeks On Call
Geeks On Call is a wholly owned subsidiary of Geeks On Call Holdings, Inc. (BULLETIN BOARD: GOCH) . Founded in 1999, the Company is a pioneer in the mobile, rapid-response on-site IT service concept. Under the trade names Geeks On Call(R), 1-800-905-GEEK(TM), Call The Geeks(TM) and CallTheGeeks.com(TM), the Company's certified IT professionals service small businesses and residential customers through its national network of franchise and Company-owned locations. They provide computer privacy and security solutions, hardware and network installations and troubleshooting, as well as repairs, upgrades and consulting. Geeks On Call also co-markets through endorsed vendor relationships with other Franchisors, who offer GOC services to their franchisees as a value-added benefit. Over 250 independently owned and operated franchises have been granted, with new franchise and Corporate locations opening regularly. For more information, including franchising and Endorsed Vendor Program opportunities, call 1-800-905-GEEK or visit http://www.geeksoncall.com/. Send an email of inquiry to endorsedvendor@geeksoncall.com.
Forward-looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Contacts:
Investor Relations
Jennifer Allesandro
Geeks On Call I/R
(757) 531-7410
jennifer.allesandro@geeksoncall.com
Media Relations
Shana Keith
Porter Novelli
(404) 995-4557
shana.keith@porternovelli.com
Geeks On Call
CONTACT: Investor Relations, Jennifer Allesandro, Geeks on Call I/R, +1-757-531-7410, jennifer.allesandro@geeksoncall.com; or Media Relations, Shana Keith of Porter Novelli for Geeks On Call, +1-404-995-4557, shana.keith@porternovelli.com
Web site: http://www.geeksoncall.com/
Environmental Tectonics Corporation Announces that the ATFS-400 'Phoenix' Authentic Tactical Flight Simulator has been Commissioned at NASTAR Center
SOUTHAMPTON, Pa., Sept. 25 /PRNewswire-FirstCall/ -- Environmental Tectonics Corporation ("ETC" or the "Company") today announced the commissioning of the ATFS-400 Phoenix at its National AeroSpace Training and Research Center (NASTAR Center). The ATFS-400 will be featured by ETC at the Defendory Conference in Athens, Greece.
The ATFS-400(TM) Phoenix is a high fidelity, interactive, virtual tactical air combat maneuvering flight simulator that is integrated into a state-of-the-art high performance "flyable" centrifuge motion platform. Its revolutionary design enables it to authentically simulate the dynamic performance, mission systems and interactive elements of a specific type and model of aircraft in tactical environments. The ATFS-400(TM) Phoenix precisely replicates real world aircraft and threat dynamics. Pilot inputs are processed by the aeromodel to simultaneously drive the virtual (sight and sound) cues and command the multi-axis centrifuge to correctly produce the sustained G-forces that the pilot would experience while flying the actual aircraft. The ATFS-400(TM) Phoenix authentically simulates the flight dynamics providing the virtual cues, visual fidelity, and physical stresses experienced during combat maneuvers correlated to the specific tactical aircraft. In short, the ATFS-400(TM) Phoenix is the new technology in high performance aircraft simulation, providing realistic combat air training.
The ATFS-400(TM) Phoenix design integrates four unique proprietary systems developed by ETC over nearly three decades: the High Performance Human Centrifuge motion platform; the G-POINTING(TM) motion control system to create authentic sustained G cuing based on the pilot's flight control inputs; the Virtual Battlespace to support multi-aircraft training operations with programmable targets and threats; and the interchangeable Cockpit Module to support high fidelity, aircraft specific training.
ETC's Cockpit Modules provide for unprecedented training flexibility. The Cockpit Module allows tactical pilots to train in their specific weapons system. Cockpit Modules are easily interchangeable in the ATFS-400(TM) Phoenix, by two people in about one hour.
Each Cockpit Module can function as a stand-alone operational flight simulator when not installed in the ATFS-400(TM) Phoenix. The Cockpit Module size, weight and ruggedness make it an ideal expeditionary trainer that can deploy to combat zones with fighting units for in-theater training and mission rehearsal. Each Cockpit Module is HLA compatible so it can be data linked with each other, with the ATFS-400(TM) Phoenix and with existing HLA compatible simulators. Whether as standalone, stationary operational flight simulator, part of a network of data linked Cockpit Modules operating in a common battlespace, or part of the ATFS-400(TM) Phoenix motion-based, high-G tactical flight simulator system, Cockpit Modules are the solution to your flight training challenges.
ETC designs, develops, installs and maintains aircrew training systems (aeromedical, tactical combat and general), disaster management training systems and services, entertainment products, sterilizers (steam and gas), environmental testing products, hyperbaric chambers and related products for domestic and international customers.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ETC's current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC's and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans, objectives, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business of the company, including but not limited to, (i) the potential delisting of the Company's common stock from the American Stock Exchange as a result of the Company's failure to comply with the AMEX listing standards, (ii) projections of revenues, costs of materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure, other financial items and the effects of currency fluctuations, (iii) statements of our plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions of customers, suppliers, competitors or regulatory authorities, (iv) statements of future economic performance, (v) statements of assumptions and other statements about the Company or its business, (vi) statements made about the possible outcomes of litigation involving the Company, including our outstanding litigation with Disney; (vii) statements regarding the Company's ability to obtain financing to support its operations and other expenses, and (viii) statements preceded by, followed by or that include the words, "may," "could," "should," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or the negative of such terms or similar expressions. These forward-looking statements involve risks and uncertainties which are subject to change based on various important factors. Some of these risks and uncertainties, in whole or in part, are beyond the Company's control. Factors that might cause or contribute to such a material difference include, but are not limited to, those discussed in the Company's Annual Report on Form 10-K for the fiscal year ended February 29, 2008, in the section entitled "Risks Particular to Our Business." Shareholders are urged to review these risks carefully prior to making an investment in the Company's common stock.
The Company cautions that the foregoing list of important factors is not exclusive. Except as required by federal securities law, the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Contact: Duane D. Deaner, CFO
Tel: 215-355-9100 (ext. 1203)
Fax: 215-357-4000
ETC - Internet Home Page: http://www.etcusa.com/
Environmental Tectonics Corporation
CONTACT: Duane D. Deaner, CFO, +1-215-355-9100, ext. 1203, Fax, +1-215-357-4000
Web site: http://www.etcusa.com/
Redline Communications Ranked Among the Fastest Growing Technology Companies in Canada
TORONTO, September 25 /PRNewswire/ --
- Redline Achieves Ranking Among the Deloitte Technology Fast 50 for the
Third Consecutive Year
Redline Communications Inc. ("Redline") (TSX and AIM: RDL), a leading
provider of standards-based WiMAX and broadband wireless infrastructure
products, today announced that it has been ranked among the Deloitte
Technology Fast 50 for the third consecutive year. The Deloitte Technology
Fast 50 is a ranking of the 50 fastest growing technology companies in
Canada, based on the percentage of revenue growth over five years from 2003
to 2007.
"We are pleased to be recognized once again for Redline's tremendous
growth, which has been fueled by our ability to deliver advanced WiMAX
technologies that enable carriers to provide true broadband access in markets
around the world," said Majed Sifri, President and CEO of Redline
Communications. "Our growth is also attributed to the drive of each of our
employees and partners, and their commitment to providing real value to our
customers and shareholders through leading edge, high performance
technologies and excellent services."
With more than 166 trials and deployments, Redline has established itself
as a leader in the WiMAX industry, in both technology development and
deployments. Redline was the first company to achieve WiMAX Forum
Certification(R) for a complete WiMAX system, and is one of the first to
achieve certification for its RedMAX 4C(TM) Mobile WiMAX products.
In addition, Redline offers the RedCONNEX(TM) and RedACCESS(TM) families
of Broadband Wireless Infrastructure (BWI) products that provide connectivity
for enterprise and industrial applications that require large amounts of
bandwidth. The company's BWI products have been deployed worldwide for a
range of applications including communications for oil and gas facilities,
military operations, education, and backhaul for mobile networks to enable
carriers to support increased customer traffic.
"Transforming technological innovation into business success is hard, and
it's especially difficult to sustain such rapid revenue growth over five
years. Redline Communications has rapidly built a highly successful company
in the Canadian technology industry and we applaud their dedication and
ability to transform their vision into reality," said John Ruffolo, National
Leader, Technology, Media & Telecommunications Industry Group, Deloitte.
To qualify for the Deloitte Technology Fast 50 ranking, companies must
have been in business for at least five years, have revenues of at least US$5
million, be headquartered in Canada, own proprietary technology, and conduct
research and development activities in Canada. A panel of industry experts
evaluates and judges companies based on four key criteria: competitive
advantage; size, growth, and market attractiveness; management effectiveness
and organization; and financial performance.
Redline's WiMAX Leadership
Redline is recognized worldwide as a leader in the deployment of WiMAX
Forum Certified(R) products. Redline's RedMAX(TM) family of WiMAX solutions
was the world's first complete system to receive the WiMAX Forum
Certified(TM) mark for conformance to the WiMAX standards for performance and
interoperability. Redline's RedMAX 4C(TM) Mobile WiMAX products have recently
been certified to the mobile WiMAX standards. Redline currently has more than
166 WiMAX deployments, of which 63 are commercial, revenue-generating
networks.
RedMAX 4C(TM) Mobile WiMAX
The RedMAX 4C(TM), which is based on the WiMAX industry's 802.16e-2005
standards for mobile WiMAX, supports a wide range of fixed, portable and
mobile wireless services including support Voice and Video over IP, broadband
Internet access used to support highly valued education, medical,
transportation and municipal applications, VPNs (Virtual Private Networks)
and other advanced communications services. The RedMAX 4C(TM) Mobile WiMAX
platform is designed to enable operators to maximize the reach and customer
density required for a profitable carrier business model. The RedMAX 4C(TM)
includes a modular, standardized (micro)TCA (micro Telecommunications
Computing Architecture) chassis base station that is small, lightweight and
easy to deploy. RedMAX 4C(TM) will also include a suite of indoor and outdoor
fixed and portable end-user devices including laptops, mobile handsets and
PDAs. Redline's new WiMAX offering is also designed to facilitate the
integration of its existing RedMAX(TM) products with its RedMAX 4C(TM)
technologies, providing operators a path to true mobility.
About the Deloitte Technology Fast 50
The Deloitte Technology Fast 50 (www.fast50.ca) program is Canada's
pre-eminent technology awards program. Celebrating business growth,
innovation and entrepreneurship, the program features four distinct
categories including the Technology Fast 50 Ranking, Companies-to-Watch
Awards (early-stage Canadian tech companies in business less than five years,
with the potential to be a future Deloitte Technology Fast 50 candidate),
Leadership Awards (companies that demonstrate technological leadership in
four industry subcategories: hardware/semiconductor, software,
telecommunications and emerging technologies) and the Deloitte Technology
Green 15 Awards (Canada's leading GreenTech companies that promote a more
efficient use and re-use of the earth's resources in industrial production
and consumption). Program sponsors include Deloitte, Gowlings, GrowthWorks,
RBC Capital Markets, Wellington Financial, Stonewood Group, CATAAlliance and
IGLOO.
About Redline Communications
Redline Communications (www.redlinecommunications.com) is the leading
provider of fixed and mobile standards-based wireless broadband solutions.
Redline's RedMAX(TM) WiMAX Forum Certified(TM) system, RedMAX 4C Mobile
WiMAX(TM) products, and its award-winning RedCONNEX(TM) and RedACCESS(TM)
families of broadband wireless infrastructure products enable service
providers and other network operators to cost-effectively deliver
high-bandwidth services, including voice, video and data communications.
Redline is committed to maintaining its wireless industry leadership with the
continued development of WiMAX and other advanced wireless broadband
products. With more than 100,000 installations in 85 countries, and a global
network of over 170 partners, Redline's experience and expertise helps
service providers, enterprises and government organizations roll out wireless
broadband networks to support advanced communications.
NOTE: All registered and unregistered trademarks mentioned in this
release are the property of their respective owners.
Certain statements in this release constitute forward-looking statements
or forward-looking information within the meaning of applicable securities
laws and are made pursuant to the "safe harbour" provisions of such laws.
Statements related to potential benefits of, and demand for, Redline's
products including statements with respect to the features and benefits that
may be achieved through the use of Redline's products and the relative
position of these products vis-à-vis competitive offerings in the industry
are forward-looking statements which are subject to certain assumptions,
risks and uncertainties. These risks and uncertainties include such factors
as rapid technological changes, long uncertain sales cycles, demand for our
products, the introduction of competing technologies, meeting industry
standards, regulatory risk, dependent on key partners and resellers and other
similar factors that may cause the actual results, performance or
achievements of Redline to differ materially from the results, performance,
achievements or developments expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance on such
statements. Redline assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For further information: Redline Communications, Carolyn Anderson,
Chantelle Bani, canderson@redlinecommunications.com,
cbani@redlinecommunications.com, Tel: +1-905-479-8344; Equicom Group, Craig
Armitage, Vanessa Beresford, carmitage@equicomgroup.com,
vberesford@equicomgroup.com, Tel: +1-416-815-0700; Canaccord Adams, Neil
Johnson, Andrew Chubb, Tel: +44(0)20-7050-6500
Redline Communications Group Inc.
For further information: Redline Communications, Carolyn Anderson, Chantelle Bani, canderson@redlinecommunications.com, cbani@redlinecommunications.com, Tel: +1-905-479-8344; Equicom Group, Craig Armitage, Vanessa Beresford, carmitage@equicomgroup.com, vberesford@equicomgroup.com, Tel: +1-416-815-0700; Canaccord Adams, Neil Johnson, Andrew Chubb, Tel: +44(0)20-7050-6500
Azure Dynamics Announces Issuance of Deferred Share Units
OAK PARK, Michigan, September 25 /PRNewswire/ -- Azure Dynamics Corporation (TSX: AZD, LSE: ADC & OTCQX: AZDDF) - ("Azure"
or the "Company"), a leading developer of hybrid electric and electric
powertrains for commercial vehicles has granted 239,120 Deferred Share Units
("DSUs") to Director, Scott T. Harrison as of September 23, 2008.
Mr. Harrison has agreed to accept DSUs in respect to payments due under
his employment agreement in lieu of cash. The DSUs are issued pursuant to the
Company's Deferred Share Unit Plan. Information on the Company's Deferred
Share Unit Plan can be found in the Management Information Circular filed on
May 22, 2008 in the SEDAR filing system at http://www.sedar.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) (OTCQX: AZDDF) is a
world leader in the development and production of hybrid electric and
electric components and powertrain systems for commercial vehicles. Azure is
strategically targeting the commercial delivery vehicle and shuttle bus
markets and is currently working internationally with various partners and
customers. The Company is committed to providing customers and partners with
innovative, cost-efficient, and environmentally-friendly energy management
solutions.
For more information please visit http://www.azuredynamics.com.
<< The TSX and LSE Exchanges do not accept responsibility for the
adequacy or accuracy of this release. >>
Forward-looking Statements
This press release contains forward-looking statements. More
particularly, this press release contains statements concerning Azure's
business development strategy, projected commercial revenues and product
deliveries.
The forward-looking statements are based on certain key expectations and
assumptions made by Azure, including expectations and assumptions concerning
achievement of current timetables for development programs, target market
acceptance of Azure's products, current and new product performance,
availability and cost of labour and expertise, and evolving markets for power
for transportation vehicles. Although Azure believes that the expectations
and assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking
statements because Azure can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to, the risks associated with Azure's early stage of development,
lack of product revenues and history of losses, requirements for additional
financing, uncertainty as to commercial viability, uncertainty as to product
development and commercialization milestones being met, uncertainty as to the
market for Azure's products and unproven acceptance of Azure's technology,
competition for capital, product market and personnel, uncertainty as to
target markets, dependence upon third parties, changes in environmental laws
or policies, uncertainty as to patent and proprietary rights, availability of
management and key personnel, and acquisition integration risk. These risks
are set out in more detail in Azure's annual information form which can be
accessed at http://www.sedar.com.
The forward-looking statements contained in this press release are made
as of the date hereof and Azure undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required by
applicable securities laws.
For further information: ON AZURE: Ryan Carr, Chief Financial Officer,
+1-248- 298-2403, Email: rcarr@azuredynamics.com; Stuart Skinner, Richard
Kenny, Tel: +44(0)207-260-1000, Numis Securities Limited as Nominated Adviser
to the Company; David Poutney, Tel: +44(0)207-260-1000, Numis Securities
Limited as Broker to the Company
Azure Dynamics Corporation
For further information: ON AZURE: Ryan Carr, Chief Financial Officer, +1-248- 298-2403, Email: rcarr@azuredynamics.com; Stuart Skinner, Richard Kenny, Tel: +44(0)207-260-1000, Numis Securities Limited as Nominated Adviser to the Company; David Poutney, Tel: +44(0)207-260-1000, Numis Securities Limited as Broker to the Company
Lockheed Martin Increases Dividend by 36 Percent
BETHESDA, Md., Sept. 25 /PRNewswire-FirstCall/ -- Lockheed Martin Corporation today announced that its Board of Directors has authorized a dividend increase of 36 percent or $0.15 per-share.
Following the increase, the company's quarterly dividend will be $0.57 per-share. The dividend is payable Dec. 26, 2008 to holders of record as of Dec. 1, 2008.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.
For additional information, visit our web site:
http://www.lockheedmartin.com/.
Lockheed Martin Corporation
CONTACT: Media, Jeff Adams, Director, Media Relations, +1-301-897-6308, Investor Relations, Jerry Kircher, Vice President, Investor Relations, +1-301-897-6584, or Shamala Littlefield, Director, Investor Relations, +1-301-897-6455, all of Lockheed Martin Corporation
Web site: http://www.lockheedmartin.com/
Company News On-Call: http://www.prnewswire.com/comp/534163.html
Verizon Calls for Industry Adoption of 'Best Practices' to Protect Consumer Privacy in Online AdvertisingExecutive Outlines Specific Protections in Congressional Testimony
WASHINGTON, Sept. 25 /PRNewswire/ -- Online companies should commit to a list of industry "best practices" to protect consumers from potential problems associated with targeted Internet advertising -- also known as behavioral advertising -- when consumers surf the Web, a senior Verizon executive told Congress today.
Testifying before the Senate Committee on Commerce, Science and Transportation, Tom Tauke, Verizon executive vice president of public affairs, policy and communications, called upon the online industry to secure the trust of consumers by adopting practices that fully protect their privacy.
"Everyone should embrace policies that put consumers in control of their online experience," Tauke said.
The Verizon executive said the industry should unite behind a number of best practices for behavioral advertising, including: (1) transparency -- "conspicuous, clearly explained disclosure to consumers"; (2) meaningful consent -- affirmative agreement from consumers before a company captures Internet usage data, when consumers surf the Web, for targeted or customized advertising; and (3) consumer control -- ensuring that consumers can at any time act to stop any company from using their Internet usage information.
"From the perspective of consumers, it makes no difference what technology is used to do behavioral advertising, or if it is done by companies providing their browser, their search engine, their access, or any other online service," Tauke said. "All online players should protect the privacy of online users."
He called for the establishment of a broad-based coalition of online publishers, search engines, Internet service providers, browser and application providers, and other online providers -- along with representatives of consumer and privacy organizations -- to adopt the industry best practices.
"Any technology that is used to track and collect consumer online behavior, when they surf the Web, for the purposes of targeted advertising -- regardless of what company is doing the collecting -- should only be used with the customer's knowledge and consent in accordance with the law, a company's specific privacy policies, and the privacy principles," Tauke said.
Verizon neither relies on online advertising as a significant source of revenue nor uses packet inspection technology to target advertising to its customers, he told the committee.
The Verizon executive suggested the new guidelines should be enforceable.
"Should a company fail to comply with these principles, we believe the Federal Trade Commission has authority over abuses in the privacy area and can take appropriate measures against companies that intentionally violate applicable consumer protection laws," he said.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: David Fish, Verizon, +1-202-515-2514, david.m.fish@verizon.com
Web Site: http://www.verizon.com/ http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Diebold's Patented Campaign Office(TM) Software Helps Transform ATMs Into Revenue-Generating Business ToolsMarketing software receives seven patents covering multiple graphical and technological features
NORTH CANTON, Ohio, Sept. 25 /PRNewswire-FirstCall/ -- Extending its technical expertise to non-hardware solutions for the financial industry, Diebold, Incorporated recently received seven patents for its Campaign Office(TM) software, which can transform automated teller machines (ATMs) into revenue-generating business tools. Many of Campaign Office's unique features are protected through the patents, such as its ability to identify individual users to deliver targeted communications and its delivery of customized data via multiple graphical screens.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080725/DIEBOLDLOGO )
One of four integral components of the Agilis(R) Office Suite family of software solutions, Campaign Office can help financial institutions realize a significant return on their ATM investment by delivering one-to-one marketing messages to every customer at every ATM location, at any time. Campaign Office can increase the institution's connection with its customers by enhancing interactivity and personalizing the ATM experience, while strengthening its brand.
"The Campaign Office patents underscore our position as an innovator breaking new ground in the very competitive financial services industry. Diebold's versatility in developing unique solutions in hardware, software and services is one of our major strengths," said Charles E. Ducey, Jr., senior vice president, global development and services, Diebold. "For financial institutions, the level of personalization this software offers can help differentiate them from the competition and have a greater, more lasting impression on both consumer and business customers."
Through Web browser-based screens within Windows(R)-based ATM networks, Campaign Office uses customer demographics and account information to deliver dynamic marketing messages that are fresh and relevant to the user. The software's server includes a database of current customer information as well as a table that defines marketing screens and messages for non-customers. This enables financial institutions to present a student loan offer to a college student, interest rates on luxury car loans to business professionals, renewal rates to consumers with expiring CD terms and targeted messages to non-customers.
Campaign Office enables ATMs to be personalized by the financial institution to support specific locales, unique backgrounds, a number of languages and informational and branded service messages. Additionally, because the software's graphical interface is separate from the ATM's screen content, financial institutions can offer their customers the freedom to make choices in message delivery, including language, fast-cash amounts and receipt or no receipt transactions.
"Customers are accustomed to personalized communications through the multitude of advances in multimedia. With the implementation of Campaign Office, financial institutions can capitalize on those extremely valuable moments at the ATM when customers become a captive audience," Ducey said. "Delivering the right message at the right time can invite customers into the branch to acquire additional products and services, helping increase positive teller-customer interaction."
In addition to delivering targeted marketing to customers, Campaign Office offers financial institutions access to valuable information through reports that provide usage patterns, customer responses from campaigns, a list of non-customers using the ATMs, the status of message delivery and more, allowing financial institutions to calculate their return on investment at the ATM. Campaign Office also enables financial institutions to modify customer campaigns as-needed, which increases the campaigns' effectiveness.
About Diebold
Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com/ .
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080725/DIEBOLDLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Diebold, Incorporated
CONTACT: Media, DeAnn Zackeroff, +1-330-490-5220, deann.zackeroff@diebold.com, or Investors, Christopher Bast, +1-330-490-6908, christopher.bast@diebold.com, both of Diebold
Web site: http://www.diebold.com/
National Semiconductor Increases Quarterly Cash Dividend
SANTA CLARA, Calif., Sept. 25 /PRNewswire-FirstCall/ -- National Semiconductor Corporation announced today that the Board of Directors has declared a cash dividend of $0.08 per outstanding share of common stock, which is an increase from the prior quarterly cash dividend of $0.06 per share. This new dividend will be paid on January 5, 2009 to shareholders of record at the close of business on December 15, 2008.
National Semiconductor's fully diluted weighted average share count was 241.3 million shares for the first quarter of fiscal of 2009, which ended August 24, 2008.
About National Semiconductor
National Semiconductor creates energy-efficient analog and mixed-signal semiconductors. Its PowerWise(R) products enable systems that consume less power, extend battery life, and generate less heat. Headquartered in Santa Clara, Calif., National reported sales of $1.89 billion for fiscal 2008 which ended May 25, 2008. Additional company and product information is available at http://www.national.com/.
Media Contact: Financial:
LuAnn Jenkins Mark Veeh
National Semiconductor National Semiconductor
(408) 721-2440 (408) 721-5007
luann.jenkins@nsc.com invest.group@nsc.com
National Semiconductor Corporation
CONTACT: Media, LuAnn Jenkins, +1-408-721-2440, luann.jenkins@nsc.com, or Financial, Mark Veeh, +1-408-721-5007, invest.group@nsc.com, both of National Semiconductor Corporation
Web site: http://www.national.com/
Nokia Launches Mobile Software to Help Organizations Deliver Critical Social ServicesAmazonas State Health Department in Brazil to use the Software to Monitor and Treat Outbreaks of Dengue Fever
ESPOO, Finland, September 25 /PRNewswire-FirstCall/ -- Nokia today announced Nokia Data Gathering, a new software solution to help public sector and non-governmental organizations (NGOs) quickly and accurately collect data on critical issues such as disease outbreaks or disaster relief via mobile devices. The Amazonas State Health Department in Brazil will be the first to use the solution as part of its fight against dengue fever in the city of Manaus in Northern Brazil.
The Nokia Data Gathering software will be available to public sector organizations and NGOs free of charge. It can be used to create tailored questionnaires and distribute them to multiple mobile phones using a normal mobile network. Field personnel surveying local conditions can quickly complete the questionnaires and immediately transmit their findings to a central database. The system also allows organizations to geo-tag data with GPS location information to build a more detailed picture of very local conditions.
"Sound decisions are based on the analysis of fresh, accurate data. However, for organizations with a remote or mobile workforce, this is easier said than done. Information related to health, agriculture and environmental conditions is often recorded on paper, transported, and transcribed, in a process that can take months and result in errors. Nokia Data Gathering aims to improve accuracy and deliver information in near real-time, helping decision-makers to improve the delivery of social services," said Gregory Elphinston, Director of Community Involvement at Nokia.
Accurate and timely information is essential when monitoring the effectiveness of disease prevention measures and preventing further outbreaks. This is the basis for the deployment of Nokia Data Gathering in Brazil by the Amazonas State Health Department, SUSAM (Secretaria de Estado de Saude do Amazonas), which will be using the solution to monitor outbreaks of disease and the effectiveness of prevention programs in the city of Manaus. Commencing in October 2008, 50 SUSAM field personnel equipped with Nokia E61 and Nokia E71 devices will take to the street in the metropolitan region of Manaus focusing initially on dengue fever. The program will then be expanded in 2009 to cover the whole State of Amazonas, with SUSAM's 600 field agents gathering data on the fight against dengue fever, malaria and yellow fever.
"The Secretaria de Saude do Amazonas has a series of programs dealing with endemic diseases in the region, and Nokia's technology will help us to more rapidly identify and investigate the results and symptoms of the surveyed population," said Agnaldo Costa, State Health Secretary of Amazonas State. "The transmission of information immediately after the interviews gives us improved agility, increases public safety, and avoids the manual filling-in of forms which is usually a difficult and time-consuming process."
"This solution demonstrates the real potential of mobile communications to deliver social benefits," Greg Elphinston of Nokia continued. "The more time-critical the information, and the more remote the location, the more organizations have to gain from a mobile phone based solution. We expect Nokia Data Gathering to be especially beneficial in collecting information in the health, agriculture, emergency services, censuses and environmental conservation sectors."
The software was developed by Nokia and Instituto Nokia de Tecnologia (INdT), a non-profit research and development center in Brazil. Nokia will be donating licenses for the Nokia Data Gathering software to public sector organizations and NGOs. More information can be found by visiting http://www.nokia.com/datagathering.
Notes to Editors:
More information about Nokia Data Gathering is available at http://www.nokia.com/datagathering
Related photos in print quality can be found at http://www.nokia.com/press/photos
About Nokia
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. We make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Developing and growing our offering of consumer Internet services, as well as our enterprise solutions and software, is a key area of focus. We also provide equipment, solutions and services for communications networks through Nokia Siemens Networks.
http://www.nokia.com/
Nokia Corporation
CONTACT: Media enquiries: Nokia Communications, Tel. +358-7180-34900, Email: press.services@nokia.com
Turkcell to Launch iPhone 3G in Turkey Tomorrow, 26 September 2008
ISTANBUL, September 25 /PRNewswire-FirstCall/ -- Turkcell, the leading communication and technology company in Turkey, today announced that it will launch iPhone 3G in Turkey on September 26 2008.
iPhone 3G combines all the revolutionary features of iPhone plus built-in GPS for expanded location-based mobile services, and iPhone 2.0 software which includes support for Microsoft Exchange ActiveSync and runs thousands of third party applications available through the Apple App Store.
"We are delighted to be bringing iPhone 3G to Turkey," said Lale Saral Develioglu, Turkcell's Chief Marketing Officer. "Turkcell was the first company to bring the mobile internet to Turkey and we have no doubt that the innovative and easy-to-use iPhone 3G will now help take mobile internet and multimedia experiences to new heights. As one of the top three operators in Europe, Turkcell is proud to offer this prestigious product to its customers."
New and existing Turkcell customers will benefit from attractive offers with special Turkcell privileges when they purchase iPhone 3G:
Package Services Price of Monthly
iPhone 3G package prices*
Small Package 150 minutes+150 SMS+
Unlimited internet package 279 YTL 75 YTL
Medium Package 500 minutes+500 SMS+
Unlimited internet package 189 YTL 115 YTL
Large Package 1000 minutes+1000 SMS+
Unlimited internet package Free 145 YTL
iPhone 3G will also be available without contract at EUR129 per month for five installments.
Owners of iPhone 3Gwill receive a 100MB internet package for one month free of charge. In addition, they will have an unlimited internet package for three months at half price**.
Subscribers who opt for an 18 month plan will be able to purchase iPhone 3G for 0-279 YTL depending on the plan.
For further information or to register interest please visit http://www.turkcell.com.tr/.
*Monthly package prices are include VAT but exclude SCT (Special Consumption Tax). iPhone 3G prices are inclusive of all taxes.
**Unlimited internet package includes monthly usage of 3GB.
About Turkcell
Turkcell is the leading GSM operator in Turkey with 35.4 million postpaid and prepaid customers as of June 30, 2008, operating in a three player market with a market share of approximately 56% as of March 31, 2008 (Source: The Telecommunications Authority). In addition to high-quality wireless telephone services, Turkcell currently offers General Packet Radio Service ("GPRS") countrywide and Enhanced Data Rates for GSM Evolution ("EDGE") in dense areas, which provide for both improved data and voice services.
Turkcell provides roaming with 590 operators in 200 countries as of August7, 2008. Serving a large subscriber base in Turkey with its high-quality wireless telephone network, Turkcell reported US$3.3 billion net revenues for the six months as of June 30, 2008 and US$6.3 billion net revenues as of December 31, 2007 as per IFRS financial statements. Turkcell has interests in international GSM operations in Azerbaijan, Georgia, Kazakhstan, Moldova, Northern Cyprus, Belarus and Ukraine. Turkcell has been listed on the NYSE ("New York Stock Exchange") and the ISE ("Istanbul Stock Exchange") since July 2000 and is the only NYSE listed company in Turkey. 51.00% of Turkcell's share capital is held by Turkcell Holding, 0.05% by Cukurova Group, 13.07% by Sonera Holding, 2.32% by M.V. Group and 0.08% by others while the remaining 33.48% is free float.
For further information please contact
Turkcell Corporate Affairs
Koray Ozturkler, Chief Corporate Affairs Officer
Tel: +90-212-313-1500
Email: koray.ozturkler@turkcell.com.tr
Investors and International Media:
Ferda Atabek, Investor Relations
Tel: +90-212-313-1275
Email: ferda.atabek@turkcell.com.tr
investor.relations@turkcell.com.tr
Local Media:
Filiz Karagul Tuzun, Corporate Communications
Tel: +90-212-313-2304
Email: filiz.karagul@turkcell.com.tr
Turkcell
CONTACT: For further information please contact: Turkcell Corporate Affairs: Koray Ozturkler, Chief Corporate Affairs Officer, Tel: +90-212-313-1500, Email: koray.ozturkler@turkcell.com.tr; Investors and International Media: Ferda Atabek, Investor Relations, Tel: +90-212-313-1275, Email: ferda.atabek@turkcell.com.tr, investor.relations@turkcell.com.tr; Local Media: Filiz Karagul Tuzun, Corporate Communications, Tel: +90-212-313-2304, Email: filiz.karagul@turkcell.com.tr
Rocky Hill, Connecticut Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Voice, Multimedia and Internet Access
ROCKY HILL, Conn., Sept. 25 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Hartford County, Verizon Wireless has activated a new cell site. The new site increases high-speed wireless data coverage and capacity along I-91, Cromwell Avenue, New Britain Avenue, and Elm Street in Rocky Hill, Connecticut, as well as the surrounding area.
Verizon Wireless has invested more than $45 billion since it was formed to increase the coverage and capacity of its national network and to add new services like BroadbandAccess and V CAST. Regionally the company has invested over $2.2 billion into its New England network, including over $100 million during the first six months of 2008. As a result of these investments, every Verizon Wireless cell site in New England provides wireless broadband connectivity.
"We've always believed that even the most advanced cell phone is only as good as the network it runs on," said director for Network Systems Performance for Verizon Wireless, Richard Enright. "We continue to aggressively invest into our wireless networks across New England to increase coverage and capacity for our customers."
BroadbandAccess offers computer users the nation's most reliable high-speed wireless mobile broadband network, operating at average upload speeds between 500 and 800 kbps, and download speeds between 600 kbps and 1.4 mbps over Verizon Wireless' BroadbandAccess with EV-DO Revision A network. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones.
Strong demand for Verizon Wireless services continued during the second quarter of 2008 as the company added 1.5 million net new customers and, for the fifteenth consecutive quarter, reported the lowest customer turnover (highest customer loyalty) rate in the wireless industry.
The company's 'nation's most reliable wireless network' reputation is based on network studies performed by real-life test men and test women throughout the country who inspired the "can you hear me now" national advertising campaign. Nationally, these test men and women drive nearly 100 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to confirm that voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 68.7 million customers. Headquartered in Basking Ridge, N.J., with 70,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: Michael Murphy of Verizon Wireless, +1-781-932-1213, Michael.Murphy@verizonwireless.com; or Marcia Simon of Thomson Communications for Verizon Wireless, +1-860-399-0191
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
News archive of December 2009
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
News Archives of September 2008
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
News Archives other dates
2009: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec |