Companies news of 2008-10-16 (page 1)
Actions Semiconductor to Report Third Quarter 2008 Financial Results on October 30, 2008
Leggett & Platt Announces Third Quarter Earnings
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Paradigm Updates on Outstanding Shares and Announces a Stock Buyback Program
Actions Semiconductor to Report Third Quarter 2008 Financial Results on October 30, 2008
ZHUHAI, China, Oct. 16 /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 announced that it will release financial results for the third quarter of fiscal year 2008 ended September 30, 2008, following the close of the market on Thursday, October 30, 2008. The company will host a corresponding conference call and live webcast at 5:30 p.m. Eastern Time (ET).
To listen to the live conference call, please dial 866-383-8119 (within U.S.) or 617-597-5344 (outside U.S.) and enter passcode 54017534 at 5:20 p.m. Eastern Time (ET) on October 30, 2008. An audio replay of the call will be available to investors through November 6, 2008, by dialing 888-286-8010 (within U.S.) or 617-801-6888 (outside U.S.) and entering the passcode 52920202.
A live webcast of the call will be available from the "Investor Relations" section of the company's website at http://www.actions-semi.com/ .
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/ .
For more information, please contact:
Lisa Laukkanen
The Blueshirt Group for Actions Semiconductor
Email: lisa@blueshirtgroup.com
Tel: +1-415-217-4967
Ernie Huang
Investor Relations at Actions
Email: ernie@actions-semi.com
Tel: +86-756-339-2353 x 1095
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/
Leggett & Platt Announces Third Quarter Earnings
CARTHAGE, Mo., Oct. 16 /PRNewswire-FirstCall/ --
-- 3Q reported EPS of $.20, which includes $.14 of charges from
non-recurring items.
-- 3Q adjusted EPS from Continuing Operations of $.34 (excluding
non-recurring items).
-- 3Q sales from Continuing Operations of $1.13 billion, a 3.7% increase
from 3Q 2007.
-- 4 business units divested for after-tax cash proceeds of $388 million;
3 other dispositions proceeding.
-- Contracting Store Fixtures unit to approximately $250-275 million
sales, focused on metal fixtures.
-- 2008 adjusted EPS guidance of $1.00-1.15 (Continuing Operations,
excluding non-recurring items).
Diversified manufacturer Leggett & Platt reported third quarter earnings per diluted share of $.20. Per share earnings from Continuing Operations, adjusted to exclude restructuring and tax items were $.34 (see reconciliation below). In the third quarter of 2007, earnings per share from Continuing Operations were $.36. The year-over-year reduction in Continuing Operations' earnings is primarily due to lower unit volumes and higher LIFO expense.
Third Quarter
2008 2007
$/share:
Continuing Operations, adjusted .34 .36
Restructuring-related costs (.02) --
Unusual tax item (.03) --
Continuing Operations, as reported .29 .36
Discontinued operations (.09) .01
EPS, as reported .20 .37
Diluted Shares, mln 166.1 177.4
Sales, Continuing Operations, $mln 1,132 1,092
Third quarter sales from Continuing Operations were $1.13 billion, 3.7% higher than last year's sales of $1.09 billion. Same location sales improved 4.3%, as price inflation and market share gains more than offset soft market demand and the company's decision to exit specific sales volume (with unacceptable profit margins).
Cash flow from the divestiture program was very strong, providing $388 million of after-tax proceeds. In addition, cash flow from operations provided $77 million. During the quarter the company used $141 million (net) to purchase its stock, reduced debt by $223 million, increased working capital by $60 million, paid $42 million in dividends, and funded $26 million of capital expenditures. Net debt to capital declined 340 basis points to 28.2% at the end of the third quarter, below the company's 30%-40% target level.
Discontinued operations posted a loss of $.09 per share in the third quarter, which reflects asset impairments, gains and losses on asset sales, and restructuring charges. In the third quarter of 2007, earnings per share from discontinued operations were $.01.
CEO Comments
President and CEO David S. Haffner remarked, "We made significant progress in the third quarter relative to our previously announced strategic plan. We completed the sale of four business units for $388 million in after-tax cash proceeds, reached a decision regarding our Store Fixtures business unit, set a new record for the amount of stock repurchased in a single quarter, and spent much of September reviewing each business unit's strategic plans (the result of implementing a new strategic planning process early this year).
"Per share earnings from Continuing Operations, adjusted to exclude non-recurring items, declined 6% from 2007. The markets we serve weakened appreciably toward the quarter's end, as consumers reign in spending during this unprecedented period of tight credit and high stock market volatility. On the other hand, we continue to successfully pass along higher raw material costs, and to gain market share as bedding manufacturers reduce their use of imported innerspring components. As a reminder, in late July the U.S. Department of Commerce announced preliminary duties on imported innersprings (from specific countries, including China) of between 116% and 235%.
"We have concluded that our Store Fixtures business unit, in its current form, is not capable of meeting our return requirements. Accordingly, we intend to narrow the unit's scope to focus primarily on the 'metals' part of the fixtures industry, in alignment with Leggett's core competency of producing steel and steel-related products. We aim to eliminate additional Store Fixtures production facilities, effect changes to senior management, reduce unit overhead, purge customer accounts with unacceptable margins, and trim annual trade sales to $250-275 million. We do not expect to incur significant impairment charges related to these activities. This smaller unit will be positioned to deliver at least cost-of-capital returns. It is now designated as a 'Core' business in our portfolio; as such, it is to generate free cash flow and improve profit while minimizing use of capital.
"Our financial position is excellent. We have debt levels below our targets, no significant long-term debt maturing until 2012, and $375 million of additional availability under our 4-year bank facility. As we have consistently stated, we intend to use the majority of divestiture proceeds to buy shares of our stock, but we may complete those purchases at a slower pace than we previously anticipated, as we cautiously await more clarity regarding the economy.
"Despite external economic and market issues, we are very comfortable with our strategic direction and the initiatives we unveiled last November. We are absolutely committed to the continued execution of our plan, and believe our actions are reestablishing Leggett as a stronger and more profitable company. Our goal is to consistently generate total shareholder return of 12-15% per year, on average."
Divestitures
In November 2007, the company announced that seven of its business units were to be divested. During the third quarter the company completed the divestiture of four of those business units: Aluminum Products (by far the largest of the seven), Wood, Plastics, and the dealer portion of Commercial Vehicle Products. For these four divested units the company collectively received after-tax cash proceeds of $388 million (not including the value of subordinated notes and preferred stock). Leggett is in discussions with potential buyers for the three remaining units (Storage Products, Fibers, Coated Fabrics), and anticipates their successful disposition once the credit markets improve.
Stock Repurchases and Dividends
During the quarter the company bought 7.9 million shares of its stock (a quarterly record) at an average price of $20.16 per share. For the year, the company has repurchased nearly 14 million shares, fully exhausting its annual repurchase authorization (of 10 million shares), and partially utilizing the Board's supplementary authorization to purchase up to 20 million additional shares with proceeds from the divestitures.
Leggett declared a third quarter dividend of $.25 per share (paid on October 15), representing a 39% increase over last year's third quarter dividend of $.18 per share. The current dividend yield is approximately 5.9% (based on a $17 stock price). This year marks the company's 37th consecutive annual dividend increase at an average compound growth rate of over 14%. It is the company's intent to continue to increase annual dividends.
2008 Outlook
Expected earnings per share for the full year 2008 are $1.00-1.15 for Continuing Operations excluding non-recurring items, and $.75-.95 on an as-reported basis.
2008 Full Year Guidance Current In July
$/share:
First half of year .51
Third quarter .34
Fourth quarter forecast .15-.30
Continuing Operations excl. non-recurring items 1.00-1.15 1.10-1.40
Restructuring-related costs (.10)-(.15) (.10)
Unusual tax items (.05) not estimated
Discontinued operations (.05) not estimated
EPS Guidance .75-.95
2008 sales (from Continuing Operations) are projected to be approximately $4.1 billion, about 3% lower than in 2007. This reflects steel-related price inflation, weak fourth quarter market demand, the deliberate elimination of approximately $100 million of unprofitable revenue (earlier this year) from the company's Store Fixtures business, and minimal acquisition revenue.
The company's fourth quarter forecast anticipates weak market demand overall, and $12 million of LIFO expense. Sales for the fourth quarter are expected to be approximately $200 million lower than in the third quarter.
LIFO Expense
All of Leggett's segments use the FIFO (first-in, first-out) method for valuing inventories. An adjustment is made at the corporate level to convert about 60% of the inventories to the LIFO (last-in, first-out) method. Steel price increases this year have been significant, resulting in an estimated adjustment, or LIFO expense, of $47 million for the full year (for Continuing Operations), which contrasts with $1 million of LIFO income in 2007. Earnings for the third quarter reflect a LIFO expense of $19.7 million, compared to LIFO income of $2.2 million in 3Q 2007.
SEGMENT RESULTS -- Third Quarter 2008 (versus 3Q 2007)
Residential Furnishings -- Total sales from Continuing Operations increased $13 million, or 2%. Improved market share and inflation-related price increases largely offset the weak market demand experienced in many parts of the segment. EBIT (earnings before interest and income taxes) from Continuing Operations increased $12 million, primarily due to higher sales and operating improvements.
Commercial Fixturing & Components -- Total sales from Continuing Operations decreased $40 million, or 17%, due to reduced spending by retailers and the company's decision to eliminate revenue with unacceptable profit margins. EBIT from Continuing Operations declined $10 million, largely due to the sales decrease and restructuring-related costs.
Industrial Materials -- Total sales increased $94 million, or 47%, as a result of the pass through of higher steel costs and increased sales of steel billets. EBIT increased $18 million due to higher sales and operating improvements.
Specialized Products -- Total sales from Continuing Operations decreased $1 million. Continued sales growth in the European and Asian automotive markets was offset in the quarter by lower volume from North American automotive markets and the fleet portion of Commercial Vehicle Products. EBIT from Continuing Operations declined $6 million due to higher steel costs and weakness in both the commercial vehicle and North American automotive markets.
Conference Call
Management will discuss these results in a conference call at 8:00 a.m. Central (9:00 a.m. Eastern) on October 17. The webcast can be accessed (live or replay) from the Investor Relations section of Leggett's website at http://www.leggett.com/. The dial-in number is (303) 262-2053; there is no passcode. Fourth quarter results will be released after the market closes on Tuesday, February 3, 2009, with a conference call the next morning.
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FOR MORE INFORMATION: Visit Leggett's website at http://www.leggett.com/.
COMPANY DESCRIPTION: Leggett & Platt is a FORTUNE 500 diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in virtually every home, office, retail store, and automobile. The company serves a broad suite of customers that comprise a "Who's Who" of U.S. manufacturers and retailers. The 125-year-old firm's Continuing Operations are composed of 21 business units, 24,000 employee-partners, and more than 250 facilities located in 20 countries.
Leggett & Platt is North America's leading independent manufacturer of: a) components for residential furniture and bedding; b) retail store fixtures and point of purchase displays; c) components for office furniture; d) drawn steel wire; e) automotive seat support and lumbar systems; f) carpet underlay; g) adjustable beds; and h) bedding industry machinery.
FORWARD-LOOKING STATEMENTS: Statements in this release that are not historical in nature are "forward-looking." These statements involve uncertainties and risks, including the company's ability to improve operations and realize cost savings, price and product competition from foreign and domestic competitors, changes in demand for the company's products, cost and availability of raw materials and labor, fuel and energy costs, future growth of acquired companies, general economic conditions, foreign currency fluctuation, litigation risks, and other factors described in the company's Form 10-K. Any forward-looking statement reflects only the company's beliefs when the statement is made. Actual results could differ materially from expectations, and the company undertakes no duty to update these statements.
CONTACT: Investor Relations, (417) 358-8131 or invest@leggett.com
David M. DeSonier, Vice President of Strategy and Investor Relations
Susan R. McCoy, Director of Investor Relations
LEGGETT & PLATT October 16, 2008
RESULTS OF OPERATIONS
(In millions,
except per THIRD QUARTER YEAR TO DATE
share data) 2008 2007 Change 2008 2007 Change
Net sales (from
continuing operations) $1,132.2 $1,092.2 3.7% 3,193.6 $3,210.3 (1%)
Cost of goods sold 925.1 876.6 2,613.0 2,591.2
Gross profit 207.1 215.6 580.6 619.1
Selling & administrative
expenses 105.5 105.9 (0%) 317.0 319.7 (1%)
Amortization 6.2 5.3 18.5 16.6
Other expense (income),
net 0.3 (0.7) 0.2 (0.9)
Earnings before
interest and taxes 95.1 105.1 (10%) 244.9 283.7 (14%)
Interest expense 11.9 15.2 38.3 43.1
Interest income 2.3 2.7 6.7 6.3
Earnings before
income taxes 85.5 92.6 213.3 246.9
Income taxes 37.1 28.5 82.2 70.1
Net earnings from
continuing operations 48.4 64.1 131.1 176.8
Discontinued
operations, net of tax 1 (15.7) 1.6 (8.7) 24.6
Net earnings $32.7 $65.7 (50%) $122.4 $201.4 (39%)
Earnings per diluted
share
From continuing
operations $0.29 $0.36 $0.77 $0.98
From discontinued
operations ($0.09) $0.01 ($0.05) $0.13
Net earnings per
diluted share $0.20 $0.37 (46%) $0.72 $1.11 (35%)
Shares outstanding
Common stock (at end
of period) 157.0 170.1 157.0 170.1
Basic (average for
period) 165.6 177.1 170.0 180.7
Diluted (average for
period) 166.1 177.4 170.2 181.2
CASH FLOW THIRD QUARTER YEAR TO DATE
(In millions) 2008 2007 Change 2008 2007 Change
Net earnings $32.7 $65.7 $122.4 $201.4
Depreciation and
amortization 34.4 44.9 105.6 135.1
Working capital
decrease (increase) (59.9) 60.5 (146.8) 86.8
Asset Impairment 26.6 0.4 32.4 2.7
Other operating
activity 42.8 22.7 89.5 9.5
Net Cash from
Operating Activity $76.6 $194.2 (61%) $203.1 $435.5 (53%)
Additions to PP&E (26.0) (37.4) (30%) (90.8) (108.5) (16%)
Purchase of companies,
net of cash (8.2) (2.0) (9.3) (85.7)
Proceeds from asset
sales 369.8 4.2 386.0 105.8
Dividends paid (42.0) (32.2) (127.7) (93.7)
Repurchase of common
stock, net (140.6) (123.4) (251.5) (207.9)
Additions (payments)
to debt, net (208.7) 17.8 (86.6) 14.6
Other (12.6) (1.1) (17.2) (3.7)
Increase (Decr.) in
Cash & Equiv. $8.3 $20.1 $6.0 $56.4
EBITDA 2 $123.3 $153.3 (20%) $364.0 $465.0 (22%)
FINANCIAL POSITION 3 September 30
(In millions) 2008 2007 Change
Cash and equivalents $211.4 $188.3
Receivables 721.0 857.6
Inventories 644.8 754.1
Held for sale 63.0 0.0
Other current assets 74.3 85.0
Total current assets 1,714.5 1,885.0 (9%)
Net fixed assets 722.4 964.7
Held for sale 43.8 0.0
Goodwill and other
assets 1,249.8 1,492.5
TOTAL ASSETS $3,730.5 $4,342.2 (14%)
Trade accounts payable $271.4 $269.8
Current debt maturities 17.1 92.3
Held for sale 15.6 0.0
Other current liabilities 381.7 393.4
Total current
liabilities 685.8 755.5 (9%)
Long term debt 998.2 1,067.5 (6%)
Deferred taxes and other
liabilities 146.9 172.1
Held for sale 0.1 0.0
Shareholders' equity 1,899.5 2,347.1 (19%)
Total capitalization 3,044.7 3,586.7
TOTAL LIABILITIES
& EQUITY $3,730.5 $4,342.2
Net Debt to Net
Capital 4 28.2% 27.8%
Return on Equity 5 (4.2%) 11.6%
1 Discontinued operations include: Aluminum Products; Prime Foam, Fibers,
Wood Products, Coated Fabrics (formerly in Residential Furnishings);
Storage Products, Plastics (formerly in Commercial Fixturing &
Components); and the dealer portion of Commercial Vehicle Products
(formerly in Specialized Products).
2 Earnings Before Interest, Taxes, Depreciation, Amortization, and
Impairments. Includes discontinued operations.
3 In the 2008 balance sheet, amounts related to the planned divestitures
are reflected on the lines captioned "Held for sale." The 2007 balance
sheet does not reflect comparable adjustments.
4 Net Debt = Long Term Debt + Current Debt Maturities - Cash &
Equivalents. Net Capital = Total Capitalization + Current Debt
Maturities - Cash & Equivalents. These adjustments enable meaningful
comparison to historical periods.
5 Return on Equity = Trailing Twelve Months Net Earnings / Shareholders'
Equity averaged for start and end of the twelve months.
LEGGETT & PLATT October 16, 2008
SEGMENT RESULTS 1 THIRD QUARTER YEAR TO DATE
(In millions) 2008 2007 Change 2008 2007 Change
External Sales
Residential
Furnishings $575.8 $563.6 2.2% $1,646.0 $1,708.6 (3.7%)
Commercial
Fixturing &
Components 195.1 235.8 (17.3%) 561.6 638.2 (12.0%)
Industrial
Materials 203.4 134.2 51.6% 513.0 386.6 32.7%
Specialized
Products 157.9 158.6 (0.4%) 473.0 476.9 (0.8%)
Total $1,132.2 $1,092.2 3.7% $3,193.6 $3,210.3 (0.5%)
Inter-Segment
Sales
Residential
Furnishings $4.2 $3.6 $14.3 $12.0
Commercial
Fixturing &
Components 4.4 3.5 13.9 13.6
Industrial
Materials 89.9 65.1 240.1 199.9
Specialized
Products 14.1 14.6 47.4 37.2
Total $112.6 $86.8 $315.7 $262.7
Total Sales
Residential
Furnishings $580.0 $567.2 2.3% $1,660.3 $1,720.6 (3.5%)
Commercial
Fixturing &
Components 199.5 239.3 (16.6%) 575.5 651.8 (11.7%)
Industrial
Materials 293.3 199.3 47.2% 753.1 586.5 28.4%
Specialized
Products 172.0 173.2 (0.7%) 520.4 514.1 1.2%
Total $1,244.8 $1,179.0 5.6% $3,509.3 $3,473.0 1.0%
EBIT
Residential
Furnishings $61.8 $50.0 24% $147.7 $148.7 (1%)
Commercial
Fixturing &
Components 9.2 19.5 (53%) 25.5 42.1 (39%)
Industrial
Materials 34.0 16.4 107% 75.7 42.9 76%
Specialized
Products 10.8 16.9 (36%) 39.1 48.6 (20%)
Intersegment
eliminations (1.0) 0.1 (8.3) (2.4)
Change in LIFO
reserve (19.7) 2.2 (34.8) 3.8
Total $95.1 $105.1 (10%) $244.9 $283.7 (14%)
EBIT Margin 2 Basis Pts Basis Pts
Residential
Furnishings 10.7% 8.8% 190 8.9% 8.6% 30
Commercial
Fixturing &
Components 4.6% 8.1% (350) 4.4% 6.5% (210)
Industrial
Materials 11.6% 8.2% 340 10.1% 7.3% 280
Specialized
Products 6.3% 9.8% (350) 7.5% 9.5% (200)
Overall from
Continuing
Operations 8.4% 9.6% (120) 7.7% 8.8% (110)
LAST SIX QUARTERS 2007 2008
Selected Figures
(restated to
exclude
discontinued
operations) 2Q 3Q 4Q 1Q 2Q 3Q
Trade Sales ($ million) 1,071 1,092 1,040 998 1,063 1,132
Sales Growth (vs. prior
year) (0.7%) (2.1%) 1.4% (4.7%) (0.7%) 3.7%
EBIT ($ million) 86.8 105.1 (92.8) 69.1 80.7 95.1
EBIT Margin 8.1% 9.6% (8.9%) 6.9% 7.6% 8.4%
Net Earnings - continuing
operations ($ million) 56.3 64.1 (117.4) 39.2 43.5 48.4
Net Margin - continuing
operations 5.3% 5.9% (11.3%) 3.9% 4.1% 4.3%
EPS - continuing operations
(diluted) $0.31 $0.36 ($0.67) $0.23 $0.25 $0.29
EBITDA ($ million) 3 142 153 93 112 129 123
Cash from Operations ($
million) 3 93 194 178 53 73 77
Net Debt to Net Capital 3 27% 28% 28% 31% 32% 28%
Same Location Sales (vs.
prior year) 2Q 3Q 4Q 1Q 2Q 3Q
Residential Furnishings (6.6%) (8.6%) (7.1%) (11.0%) (1.2%) 3.1%
Commercial Fixturing &
Components (1.5%) (3.2%) (0.7%) (3.8%) (15.7%) (16.1%)
Industrial Materials (2.4%) (3.5%) (2.7%) 7.7% 26.6% 47.1%
Specialized Products 5.9% 11.2% 16.5% 0.7% 0.8% (0.7%)
Overall from Continuing
Operations (3.0%) (4.4%) (1.0%) (6.2%) (0.5%) 4.3%
1 Prior years' results have been restated to exclude discontinued
operations.
2 Segment margins calculated on Total Sales. Overall company margin
calculated on External Sales.
3 These lines include amounts related to discontinued operations. EBITDA
excludes impairment charges.
Leggett & Platt
CONTACT: David M. DeSonier, Vice President of Strategy and Investor Relations, or Susan R. McCoy, Director of Investor Relations, both of Leggett & Platt, +1-417-358-8131, invest@leggett.com
Web site: http://www.leggett.com/
Informatica Reports Record Third Quarter Revenues of $113.8 MillionAchieves Revenue Growth of 19 Percent and Operating Margin Increase of 370 Basis Points
REDWOOD CITY, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Informatica Corporation , the leading independent provider of enterprise data integration software and services, today announced financial results for the third quarter ended September 30, 2008.
Revenues for the third quarter of 2008 were $113.8 million, up 19 percent from the $96.0 million recorded in the third quarter of 2007. License revenues for the third quarter were $45.8 million, up 12 percent from the $41.0 million recorded in the third quarter of 2007. Income from operations for the third quarter, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was $17.7 million, up 56% from $11.3 million in the third quarter of 2007. GAAP net income for the third quarter was $13.4 million or $0.14 per diluted share, in comparison to net income of $14.4 million or $0.15 per diluted share in the third quarter of 2007. For the three-month periods ended September 30, 2007 and September 30, 2008, earnings per diluted share is calculated on an "if converted" basis, including the add- back of $1.1 million of interest and convertible notes issuance cost amortization, net of income taxes.
Non-GAAP income from operations for the third quarter of 2008 was $25.4 million, up 48% from $17.2 million in the third quarter of 2007. Non-GAAP net income for the third quarter of 2008 was $18.9 million or $0.19 per diluted share, up from $18.8 million or $0.19 per diluted share in the third quarter of 2007. Non-GAAP income from operations and non-GAAP net income exclude charges related to purchased in-process research and development, share-based payments, facilities restructurings and the amortization of acquired technology and intangible assets. A reconciliation of GAAP results to non- GAAP results is included below.
For the nine-month period ended September 30, 2008, revenues were $331.3 million, an increase of 19 percent from the $277.4 million recorded for the first nine months of 2007. License revenues for the first nine months of 2008 were $138.6 million, up 15 percent from $120.4 million in the first nine months of 2007. GAAP income from operations for the first nine months of 2008 was $44.7 million, up 63 percent from $27.4 million in the first nine months of 2007. GAAP net income for the first nine months of 2008 was $36.0 million or $0.38 per diluted share, up 6 percent from $34.0 million or $0.36 per diluted share in the first nine months of 2007. Non-GAAP income from operations for the first nine months of 2008 was $65.6 million, up 44% from $45.4 million in the first nine months of 2007. Non-GAAP net income for the first nine months of 2008 was $51.3 million or $0.52 per diluted share, up over 4 percent from $48.8 million or $0.50 per diluted share in the first nine months of 2007. For the nine-month periods ended September 30, 2007 and September 30, 2008, earnings per diluted share is calculated on an "if converted" basis, including the add-back of $3.3 million of interest and convertible notes issuance cost amortization, net of income taxes. Non-GAAP income from operations and non-GAAP net income exclude charges related to purchased in-process research and development, share-based payments, facilities restructurings and the amortization of acquired technology and intangible assets.
"I would like to recognize and commend the Informatica team for their exceptional operational discipline to attain third quarter record revenues and operating income in these extraordinary times of macroeconomic turmoil," said Sohaib Abbasi, chairman and CEO of Informatica.
Significant milestones achieved since July 2008 include:
-- Signed repeat business with 231 customers. Customers continue to derive considerable value from their investments in Informatica solutions. Repeat customers included Autotrader.com, CVS Pharmacy, EMD Serono, Goodyear Tire & Rubber Company, Groupe Pernod Ricard, NAVTEQ Corporation, Norwich Union, and Telemar Norte Leste.
-- Added 55 new customers. Informatica increased its customer base this quarter to 3,368 companies. New customers include BBVA, Beijing Administration for Industry & Commerce, Hawaii Medical Service Association, Luz y Fuerza del Centro, Messe Frankfurt, Omnicom Media Group, and Turk Telekomunikasyon.
-- Advanced in the "Leaders Quadrant" in the Gartner Data Integration Magic Quadrant. According to Gartner, "leaders have significant mind share in the market, and resources skilled with their tools are readily available. These vendors establish market trends, to a large degree, by providing new functional capabilities in their products, and by identifying new types of business problems where data integration tools can bring significant value. Examples of deployments that span multiple projects and types of use cases are commonplace in their customer base."
-- Customer KPN won 2008 Ventana Research Information Management Leadership Award. KPN was recognized, for its use of Informatica technology, as the organization that has most successfully used information to advance business and improve its performance. The Leadership Awards recognize pioneers and leaders, organizations and individuals that exemplify technology best practices.
-- Recognized as one of the "Top 100 most influential technology vendors for 2008." In the annual State of the Market Report survey by Aberdeen Group, Informatica was recognized as one of the key vendors driving business value through technology. Over 9,000 executives were asked to name the companies that had the most impact on their businesses in the last year.
Conference Call and Webcast
Informatica will discuss its third quarter 2008 results on a conference call today beginning at 2:00 p.m. PDT. A live Webcast of the conference call will be available at http://www.informatica.com/investor. A replay of the call will also be available by dialing 617-801-6888, reservation number 74458670.
About Informatica
Informatica Corporation is the leading independent provider of enterprise data integration software and services. With Informatica, organizations can gain greater business value by integrating their information assets across the enterprise. More than 3,350 companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of varying complexity and scale. For more information, call +1 650 385 5000 (1-800-653-3871 in the U.S.), or visit http://www.informatica.com/.
INFORMATICA CORPORATION
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
GAAP Net income $13,381 $14,446 $36,108 $33,996
Plus:
Amortization of acquired technology 1,283 726 2,854 2,175
Amortization of intangible assets 1,502 361 2,857 1,079
Facilities restructuring charges 896 1,003 2,764 3,078
Purchased in-process research and
development - - 390 -
Share-based payments 4,038 3,753 11,984 11,671
Tax benefit of amortization of
intangible assets and
restructuring charges (1,420) (815) (3,221) (815)
Tax benefit of purchased in-process
research and development - - (152) -
Tax benefit of share-based payments (748) (676) (2,244) (2,375)
Non-GAAP Net income $18,932 $18,798 $51,340 $48,809
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
Diluted net income per share: *
Diluted GAAP Net income per share $0.14 $0.15 $0.38 $0.36
Plus:
Amortization of acquired technology 0.01 0.01 0.03 0.02
Amortization of intangible assets 0.01 - 0.03 0.01
Facilities restructuring charges 0.01 0.01 0.02 0.03
Purchased in-process research and
development - - - -
Share-based payments 0.04 0.04 0.11 0.11
Tax benefit of amortization of
intangible assets and
restructuring charges (0.01) (0.01) (0.03) (0.01)
Tax benefit of purchased in-process
research and development - - - -
Tax benefit of share-based payments (0.01) (0.01) (0.02) (0.02)
Diluted Non-GAAP Net income per share $0.19 $0.19 $0.52 $0.50
Shares used in computing diluted GAAP
Net income per share 103,740 103,151 103,735 102,912
Shares used in computing diluted
Non-GAAP Net income per share 104,435 103,914 104,640 103,723
* Diluted EPS is calculated under the "if converted" method for the
three and nine months ended September 30, 2008 and 2007. This
includes the add-back of $1.1 and $3.3 million of interest and
convertible notes issuance cost amortization, net of income taxes for
both periods, respectively.
Non-GAAP Financial Information
To supplement the Company's condensed consolidated financial statements presented on a GAAP basis, Informatica uses non-GAAP financial measures of net income, income from operations and net income per share. These measures are adjusted to exclude the charges and expenses discussed above. The Company believes the disclosure of such non-GAAP financial measures is appropriate to enhance an overall understanding of its historical financial performance. These adjustments to the Company's GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company's underlying operational results, trends, and marketplace performance. Informatica believes that the inclusion of these non-GAAP financial measures provides consistency and comparability with its historical financial results, as well as comparability to similar companies in the Company's industry, many of which present similar non-GAAP financial measures to investors. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for its planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income, income from operations or net income per share prepared in accordance with GAAP in the U.S.
Forward Looking Statements
This press release contains forward-looking statements relating to Informatica's opportunity for growth in the data integration market and expected benefits to our customers and products. Such statements involve risks and uncertainties, and actual results may differ materially from the results described in this press release. The potential risks and uncertainties that could cause actual results to differ include, among others, risks related to (1) competition with larger companies that have longer operating histories and greater financial, technical, marketing, and other resources; (2) uncertainty in the state of IT spending and the continued growth in the market for data integration solutions in general; and (3) lack of control regarding our strategic partners' devotion of adequate resources to promote, sell, implement, and support our products, Additional risks and uncertainties are included under the caption "Risk Factors" in Informatica's report on Form 10-K for the year ended December 31, 2007 and 10-Q for the quarter ended June 30, 2008, which are on file with the SEC and is available on the Company's investor relations website at http://www.informatica.com/. All information provided in this release is as of October 16, 2008 and Informatica undertakes no duty to update this information.
Note: Informatica is a registered trademark of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
Revenues:
License $45,846 $40,990 $138,578 $120,390
Service 67,971 55,013 192,709 156,989
Total revenues 113,817 96,003 331,287 277,379
Cost of revenues:
License 722 770 2,312 2,518
Service 20,404 17,169 61,569 50,428
Amortization of acquired
technology 1,283 726 2,854 2,175
Total cost of
revenues 22,409 18,665 66,735 55,121
Gross profit 91,408 77,338 264,552 222,258
Operating expenses:
Research and
development 18,263 17,195 54,484 52,168
Sales and marketing 43,667 38,410 132,420 112,624
General and
administrative 9,412 9,025 26,927 25,884
Amortization of
intangible assets 1,502 361 2,857 1,079
Facilities
restructuring
charges 896 1,003 2,764 3,078
Purchased in-process
research and
development - - 390 -
Total operating
expenses 73,740 65,994 219,842 194,833
Income from
operations 17,668 11,344 44,710 27,425
Interest income and
other, net 1,500 3,811 6,823 10,327
Income before income
taxes 19,168 15,155 51,533 37,752
Income tax provision 5,787 709 15,425 3,756
Net income $13,381 $14,446 $36,108 $33,996
Basic net income per
common share $0.15 $0.17 $0.41 $0.39
Diluted net income per
common share (1) $0.14 $0.15 $0.38 $0.36
Shares used in computing
basic net income per
common share 88,570 87,428 88,422 87,062
Shares used in computing
diluted net income per
common share 103,740 103,151 103,735 102,912
(1) Diluted EPS is calculated under the "if converted" method for the
three and nine months ended September 30, 2008 and 2007. This
includes the add-back of $1.1 and $3.3 million of interest and
convertible notes issuance cost amortization, net of income taxes for
both periods, respectively.
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
September 30, December 31,
2008 2007
(unaudited)
Assets
Current assets:
Cash and cash equivalents $281,620 $203,661
Short-term investments in marketable
securities 169,661 281,197
Accounts receivable, net of
allowances of $2,282 and $1,299,
respectively 60,597 72,643
Deferred tax assets 23,931 18,294
Prepaid expenses and other current
assets 24,704 14,693
Total current assets 560,513 590,488
Restricted cash - 12,122
Property and equipment, net 8,963 10,124
Goodwill and intangible assets, net 249,536 179,315
Other assets 9,577 6,595
Total assets $828,589 $798,644
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current
liabilities $56,403 $62,791
Accrued facilities restructuring
charges 20,435 18,007
Deferred revenues 104,878 99,415
Total current liabilities 181,716 180,213
Convertible senior notes 230,000 230,000
Accrued facilities restructuring
charges, less current portion 47,226 56,235
Long-term deferred revenues 10,502 13,686
Long-term income taxes payable 8,928 5,968
Stockholders' equity 350,217 312,542
Total liabilities and
stockholders' equity $828,589 $798,644
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Nine Months Ended
September 30,
2008 2007
Operating activities:
Net income $36,108 $33,996
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation and amortization 4,199 7,983
Allowance for doubtful accounts
and sales returns allowances 742 74
Share-based payments 11,984 11,671
Deferred income taxes (5,637) (11,614)
Tax benefits from stock option
plans 7,067 -
Excess tax benefits from share-based
payments (5,237) (4,130)
Amortization of intangible assets
and acquired technology 5,711 3,254
In-process research and
development 390 -
Non-cash facilities restructuring
charges 2,764 3,078
Other non-cash items 246 -
Changes in operating assets and
liabilities:
Accounts receivable 16,143 9,270
Prepaid expenses and other
assets (10,022) (1,913)
Accounts payable and other
current liabilities (7,363) (6,717)
Income taxes payable 2,788 3,075
Accrued facilities restructuring
charges (9,222) (11,086)
Deferred revenues 1,460 5,850
Net cash provided by operating
activities 52,121 42,791
Investing activities:
Purchases of property and
equipment (3,162) (4,389)
Purchases of investments (198,302) (316,971)
Purchase of investment in equity
interest (3,000) -
Maturities and sales of
investments 309,286 299,636
Business acquisition, net of cash
acquired (79,844) -
Transfer from restricted cash 12,016 -
Net cash provided by (used in)
investing activities 36,994 (21,724)
Financing activities:
Net proceeds from issuance of
common stock 26,089 22,430
Repurchases and retirement of
common stock (37,260) (20,628)
Excess tax benefits from share-based
payments 5,237 4,130
Net cash provided by (used in)
financing activities (5,934) 5,932
Effect of foreign exchange rate
changes on cash and cash equivalents (5,222) 2,617
Net increase in cash and cash
equivalents 77,959 29,616
Cash and cash equivalents at beginning
of period 203,661 120,491
Cash and cash equivalents at end of
period $281,620 $150,107
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended Three Months Ended
September 30, 2008 September 30, 2007
GAAP Adjust- Non-GAAP GAAP Adjust- Non-GAAP
ments (1) ments (1)
Revenues:
License $45,846 $- $45,846 $40,990 $- $40,990
Service 67,971 - 67,971 55,013 - 55,013
Total
revenues 113,817 - 113,817 96,003 - 96,003
Cost of revenues:
License 722 - 722 770 - 770
Service 20,404 (495) 19,909 17,169 (385) 16,784
Amortization of
acquired
technology 1,283 (1,283) - 726 (726) -
Total cost of
revenues 22,409 (1,778) 20,631 18,665 (1,111) 17,554
Gross profit 91,408 1,778 93,186 77,338 1,111 78,449
Operating expenses:
Research and
development 18,263 (1,013) 17,250 17,195 (969) 16,226
Sales and
marketing 43,667 (1,332) 42,335 38,410 (1,359) 37,051
General and
administrative 9,412 (1,198) 8,214 9,025 (1,040) 7,985
Amortization of
intangible
assets 1,502 (1,502) - 361 (361) -
Facilities
restructuring
charges 896 (896) - 1,003 (1,003) -
Purchased in-process
research and
development - - - - - -
Total
operating
expenses 73,740 (5,941) 67,799 65,994 (4,732) 61,262
Income from
operations 17,668 7,719 25,387 11,344 5,843 17,187
Interest income
and other, net 1,500 - 1,500 3,811 - 3,811
Income before
income
taxes 19,168 7,719 26,887 15,155 5,843 20,998
Income tax
provision 5,787 2,168 7,955 709 1,491 2,200
Net
income $13,381 $5,551 $18,932 $14,446 $4,352 $18,798
Net income per share:
Basic $0.15 $0.21 $0.17 $0.22
Diluted (2) $0.14 $0.19 $0.15 $0.19
Weighted shares used
to compute net income
per share:
Basic 88,570 88,570 87,428 87,428
Diluted 103,740 695(3) 104,435 103,151 763(3) 103,914
(1) The following table summarizes the Non-GAAP adjustments for the
respective periods presented:
Three Months Ended
September 30,
2008 2007
Net income, GAAP basis $13,381 $14,446
Amortization of acquired
technology 1,283 726
Amortization of intangible
assets 1,502 361
Facilities restructuring
charges 896 1,003
Purchased in-process
research and development - -
Share-based payments 4,038 3,753
Tax benefit for
amortization of intangible
assets
and restructuring
charges (1,420) (815)
Tax benefit of purchased
in-process research
and development - -
Tax benefit of share-based
payments (748) (676)
Net income, Non-GAAP basis $18,932 $18,798
(2) Diluted EPS is calculated under the "if converted" method for the
three months ended September 30, 2008 and 2007. This includes the
add-back of $1.1 million of interest and convertible notes issuance
cost amortization, net of income taxes for both periods.
(3) Anti-diluted shares generated from the unrecognized share-based
payments under the "treasury stock method" have been added back to
the non-GAAP diluted weighted shares due to non-GAAP results
excluding the share-based payments.
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Nine Months Ended Nine Months Ended
September 30, 2008 September 30, 2007
GAAP Adjust- Non-GAAP GAAP Adjust- Non-GAAP
ments (1) ments (1)
Revenues:
License $138,578 $- $138,578 $120,390 $- $120,390
Service 192,709 - 192,709 156,989 - 156,989
Total
revenues 331,287 - 331,287 277,379 - 277,379
Cost of revenues:
License 2,312 - 2,312 2,518 - 2,518
Service 61,569 (1,534) 60,035 50,428 (1,275) 49,153
Amortization of
acquired
technology 2,854 (2,854) - 2,175 (2,175) -
Total cost of
revenues 66,735 (4,388) 62,347 55,121 (3,450) 51,671
Gross profit 264,552 4,388 268,940 222,258 3,450 225,708
Operating expenses:
Research and
development 54,484 (3,043) 51,441 52,168 (2,806) 49,362
Sales and
marketing 132,420 (3,935) 128,485 112,624 (4,390) 108,234
General and
administrative 26,927 (3,472) 23,455 25,884 (3,200) 22,684
Amortization of
intangible
assets 2,857 (2,857) - 1,079 (1,079) -
Facilities
restructuring
charges 2,764 (2,764) - 3,078 (3,078) -
Purchased in-process
research and
development 390 (390) - - - -
Total
operating
expenses 219,842 (16,461) 203,381 194,833 (14,553) 180,280
Income from
operations 44,710 20,849 65,559 27,425 18,003 45,428
Interest income
and other, net 6,823 - 6,823 10,327 - 10,327
Income before
income
taxes 51,533 20,849 72,382 37,752 18,003 55,755
Income tax
provision 15,425 5,617 21,042 3,756 3,190 6,946
Net income $36,108 $15,232 $51,340 $33,996 $14,813 $48,809
Net income per share:
Basic $0.41 $0.58 $0.39 $0.56
Diluted (2) $0.38 $0.52 $0.36 $0.50
Weighted shares
used to compute
net income
per share:
Basic 88,422 88,422 87,062 87,062
Diluted 103,735 905(3) 104,640 102,912 811(3) 103,723
(1) The following table summarizes the Non-GAAP adjustments for the
respective periods presented:
Nine Months Ended
September 30,
2008 2007
Net income, GAAP basis $36,108 $33,996
Amortization of acquired
technology 2,854 2,175
Amortization of intangible
assets 2,857 1,079
Facilities restructuring
charges 2,764 3,078
Purchase in-process
research and development 390 -
Share-based payments 11,984 11,671
Tax benefit for
amortization of intangible
assets
and restructuring
charges (3,221) (815)
Tax benefit of purchased
in-process research
and development (152) -
Tax benefit of share-based
payments (2,244) (2,375)
Net income, Non-GAAP basis $51,340 $48,809
(2) Diluted EPS is calculated under the "if converted" method for the
nine months ended September 30, 2008 and 2007. This includes the
add-back of $3.3 million of interest and convertible notes issuance
cost amortization, net of income taxes for both periods.
(3) Anti-diluted shares generated from the unrecognized share-based
payments under the "treasury stock method" have been added back to
the non-GAAP diluted weighted shares due to non-GAAP results
excluding the share-based payments.
Informatica Corporation
CONTACT: Deborah Wiltshire, Public Relations, +1-650-385-5360, dwiltshire@informatica.com, or Stephanie Wakefield, Senior Director, Investor Relations, +1-650-385-5261, swakefield@informatica.com, both of Informatica Corporation
Web site: http://www.informatica.com/
First Advantage Corporation To Hold Third Quarter 2008 Earnings Conference Call
POWAY, Calif., Oct. 16 /PRNewswire-FirstCall/ -- First Advantage Corporation , a global risk mitigation and business solutions provider, today announced that it will host a conference call on Monday, Oct. 27, 2008, at 5:00 p.m. ET. The call, conducted by Anand Nallathambi, president and chief executive officer, and John Lamson, executive vice president and chief financial officer, will follow the announcement of the company's third quarter 2008 operating results, which is scheduled for release on Monday, Oct. 27, 2008, at 4:02 p.m. ET.
The call, which is open to investors, members of the financial community and the media, can be accessed as follows:
Via telephone:
Call toll free from within the United States by dialing 888.889.1652; or, if calling from outside the United States, dial 210.795.9764. For both numbers, provide the pass code Advantage when prompted.
Via webcast:
Through your Internet browser, visit the Investor home page at http://www.fadv.com/.
An audio replay of the conference call will be available through Nov. 11, 2008, by dialing 866.485.0037 (inside the United States), or 203.369.1609 (outside the United States). An audio archive of the call and a copy of the third quarter 2008 operating results release, including the financial information contained therein, will be available on the Investor home page of First Advantage's Web site, http://www.fadv.com/.
About First Advantage Corporation
First Advantage Corporation combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and specialty finance markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; corporate and litigation investigations; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software and renters insurance. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in Poway, California, and has more than 4,500 employees in offices throughout the United States and abroad. More information about First Advantage can be found at http://www.fadv.com/.
First Advantage is a majority-owned subsidiary of The First American Corporation , a FORTUNE 500(R) company that traces its history to 1889. First American is America's largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people's lives. Additional information about the First American Family of Companies can be found at http://www.firstam.com/.
First Advantage Contacts:
Henri Van Parys Cindy Williams
Corporate Communications Manager Investor Relations Manager
727.214.1072 727.214.3438
henri.vanparys@FADV.com clwilliams@FADV.com
First Advantage Corporation
CONTACT: Henri Van Parys, Corporate Communications Manager, +1-727-214-1072, henri.vanparys@FADV.com, or Cindy Williams, Investor Relations Manager, +1-727-214-3438, clwilliams@FADV.com, both of First Advantage Corporation
Web site: http://www.fadv.com/
Absolute to Showcase Laptop Anti-Theft Protection Technology at Intel Developer Forum TaipeiComputer industry's laptop security innovator leads anti-theft discussions at Intel Developer Forum
VANCOUVER, Oct. 16 /PRNewswire-FirstCall/ -- Absolute(R) Software Corporation ("Absolute" or the "Company") (TSX: ABT), the leading provider of firmware-based, patented, Computer Theft Recovery, Data Protection and Secure Asset Tracking(TM) solutions announced today that it will showcase its Laptop Anti-Theft Protection and management Technologies at Intel Developer Forum (IDF) October 20-21 in Taipei.
Absolute is the first name in anti-theft solutions for the management and security of mobile computers. Throughout IDF Taipei, media and Intel partners will have opportunities to learn about Absolute's laptop anti-theft experience and the Company's collaboration with Intel on Intel(R) AT-p.
Build your Intel Developer Forum, Taipei Agenda:
Computer Theft Recovery & Data Protection: A Layered Approach to Security
Bill Pound, Vice President of Global Corporate Development for Absolute Software, will provide insight into how Absolute is addressing the global demand for mobile computer security and management with solutions for computer theft recovery, data protection and Internet-based IT asset management. From this session, you will learn how Absolute's patented Computrace (R) technology is essential in:
- Deterring both internal and external theft
- Managing an organization's mobile IT assets
- Protecting sensitive data
- Ensuring compliance with current laws and regulations
- Providing an organization with forensic capabilities
- Mitigating the risks and costs associated with PC loss and data
breaches
Date: Tuesday, October 21
Time: 10:20 am
Meet Absolute at the Absolute Technology Showcase booth
Meet Absolute's laptop anti-theft experts and view a demonstration of Absolute products at Absolute's Technology Showcase booth S01.
Monday Oct. 20: 10:30 am - 12:30 pm; 1 pm - 5 pm
Tuesday Oct 21: 10:30 am - 12:30 pm; 1 pm - 5 pm
Location: Booth S01
About Absolute's Solutions
Computrace from Absolute Software is a software-as-a-service (SaaS) solution for post-theft computer recovery, remote data delete and off-the-network IT asset management backed by a Service Guarantee of up to $1,000.(1) Absolute also offers Computrace LoJack(R) for Laptops, a theft recovery and data protection solution designed for home users such as students, small businesses and gamers.
For more information about Intel's Developer Forum, visit http://www.intel.com/IDF/.
For more information on the complete range of Computrace solutions for schools and individuals, please visit http://www.absolute.com/ or http://www.lojackforlaptops.com/.
(1) Performance guarantees available only in certain jurisdictions.
Certain other conditions apply also. Please see
http://www.absolute.com/service_agreement.pdf for details.
About Absolute Software
Absolute Software Corporation (TSX: ABT) is the leader in Computer Theft Recovery, Data Protection and Secure Asset Tracking(TM) solutions. Absolute Software provides organizations and consumers with solutions in the areas of regulatory compliance, data protection and theft recovery. The Company's Computrace(R) software is embedded in the BIOS of computers by global leaders, including Dell, Fujitsu, MPC, General Dynamics Itronix, HP, Lenovo, Motion, Panasonic and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute Software and Computrace, visit http://www.absolute.com/.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the expected performance of our services and products, possible guarantee payment eligibility, and other expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and general market conditions. In light of the many risks and uncertainties you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.
(C)2008 Absolute Software Corporation. All rights reserved. Computrace and Absolute are registered trademarks of Absolute Software Corporation. LoJack is a registered trademark of LoJack Corporation, used under license by Absolute Software Corp. LoJack Corporation is not responsible for any content herein. Computrace U.S. patents # 5,715,174, # 5,764,892, # 5,802,280, # 5,896,497, # 6,244,758, # 6,269,392, # 6,300,863, and # 6,507,914. Canadian patents # 2,284,806 and # 2,205,370. U.K. patents # EP793823 and # GB2338101. German patent # 695 125 34.6-08. Australian patent # 699045. Japanese patent # JP4067035. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.
Absolute Software Corporation
CONTACT: Public Relations: Leslie Campisi, Affect Strategies, leslie@affectstrategies.com or (212) 398-9680 x144; Investor Relations: Dave Mason, CFA, The Equicom Group, dmason@equicomgroup.com or (416) 815-0700 x237
Renaissance Learning, Inc. Announces Third Quarter, 2008 Results
WISCONSIN RAPIDS, Wis., Oct. 16 /PRNewswire-FirstCall/ -- Renaissance Learning(R), Inc. , a leading provider of technology to support personalized practice, differentiated instruction, and progress monitoring in reading, math, and writing for pre-K-12 schools and districts, today announced financial results for the quarter ended September 30, 2008. Revenues for the third quarter of 2008 were $28.2 million, an increase of 9.3% from third quarter 2007 revenues of $25.8 million. Net income increased 88.0% for the third quarter of 2008 to $2.6 million, or $.09 per share, compared to net income of $1.4 million, or $.05 per share, for the third quarter last year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001108/RENAISSANCELOGO)
Revenues for the nine-month period ended September 30, 2008 were $85.6 million, up 7.5% from 2007 revenues of $79.7 million. Net income was $8.5 million for the nine-month period ended September 30, 2008, up 75.3% from the prior year's net income of $4.9 million. Earnings per share for the nine months of 2008 were $.30 compared to $.17 in the first nine months of 2007.
"Despite some challenging economic conditions, our results were positive in this seasonally important third quarter," commented Terrance D. Paul, Chief Executive Officer. "Orders excluding laptops increased 18.3%, our largest quarterly increase since early 2002, deferred revenue increased a record $12.1 million, and our operating cash flow was a near-record $13 million."
Laptop orders declined 2.2% in the quarter compared to third quarter last year. "Our laptop line tends to be more discretionary than our reading and math software solutions and did not fare as well under the current economic pressures," continued Paul. "However, we have reduced prices on laptops, passing on cost reductions achieved over the last two years, and are introducing several new features that we expect to accelerate laptop growth."
"The success we are having reinforces our confidence in our business model," added Paul. "Accelerated Reader Enterprise customer schools grew by over 2,000 in the quarter to over 15,000 schools having adopted the product. Annual revenue from Accelerated Reader Enterprise schools is substantially higher after upgrading from previous versions of the product. With just 24% of our reading schools having upgraded to Enterprise, we believe we have significant growth potential. Although the economic situation is producing pressure on our business, we believe that we remain well positioned to achieve solid growth in the future."
Renaissance Learning added approximately 700 new customer schools in the U.S. and Canada during the quarter, bringing total North American schools that are actively using the Company's products to over 75,000. Of these, over 63,000 are using the Company's reading products, over 30,000 are using the Company's math products, and over 27,000 are using at least one product running on the Renaissance Place platform.
The Company will hold a conference call at 4:00 p.m. CDT today to discuss its financial results, quarterly highlights and business outlook. The teleconference may be accessed in listen-only mode by dialing 888-427-9419, ID number 2274989 at 4:00 p.m. CDT. Please call a few minutes before the scheduled start time to ensure a proper connection.
A digital recording of the conference call will be made available on October 16, 2008 at 8:00 p.m. through October 23, 2008 at 11:59 p.m. The replay dial-in is 888-203-1112. The conference ID number to access the replay is 2274989.
Renaissance Learning, Inc.
Renaissance Learning, Inc. is the world's leading provider of computer-based assessment technology for pre-K-12 schools. Adopted by more than 75,000 North American schools, Renaissance Learning's tools provide daily formative assessment and periodic progress-monitoring technology to enhance core curriculum, support differentiated instruction, and personalize practice in reading, writing and math. Renaissance Learning products help educators make the practice component of their existing curriculum more effective by providing tools to personalize practice and easily manage the daily activities for students of all levels. As a result, teachers using Renaissance Learning products accelerate learning, get more satisfaction from teaching, and help students achieve higher test scores on state and national tests. Renaissance Learning has seven U.S. locations and subsidiaries in Canada, India, and the United Kingdom.
This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements regarding growth initiatives, growth prospects and management's expectations regarding orders and financial results for 2008 and future periods. These forward-looking statements are based on current expectations and various assumptions which management believes are reasonable. However, these statements involve risks and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include the failure of AR and AM Enterprise and laptop orders to achieve expected growth targets, a decline in quiz sales that exceeds forecasts, risks associated with the implementation of the Company's strategic growth plan, dependence on educational institutions and government funding, and other risks affecting the Company's business as described in the Company's filings with the Securities and Exchange Commission, including the Company's 2007 Annual Report on Form 10-K and later filed quarterly reports on Form 10-Q and Current Reports on Form 8-K, which factors are incorporated herein by reference. The Company expressly disclaims a duty to provide updates to forward-looking statements, whether as a result of new information, future events or other occurrences.
(tables to follow)
RENAISSANCE LEARNING(R), INC.
CONSOLIDATED STATEMENTS OF INCOME
(dollar amounts in thousands, except per share amounts)
(unaudited)
Three Months Nine Months
Ended September 30, Ended September 30,
2008 2007 2008 2007
Net sales:
Products $19,439 $18,674 63,532 $62,581
Services 8,761 7,135 22,100 17,093
Total net sales 28,200 25,809 85,632 79,674
Cost of sales:
Products 3,176 3,539 11,175 11,732
Services 3,664 3,301 9,993 8,612
Total cost of
sales 6,840 6,840 21,168 20,344
Gross profit 21,360 18,969 64,464 59,330
Operating expenses:
Product development 4,521 4,410 12,822 14,111
Selling and marketing 8,953 8,852 27,230 27,093
General and
administrative 4,226 3,809 11,783 11,263
Total operating
expenses 17,700 17,071 51,835 52,467
Operating income 3,660 1,898 12,629 6,863
Other income (expense), net 275 290 616 916
Income before income taxes 3,935 2,188 13,245 7,779
Income taxes 1,365 821 4,722 2,917
Net Income $2,570 $1,367 $8,523 $4,862
Income per share:
Basic $0.09 $0.05 $0.30 $0.17
Diluted $0.09 $0.05 $0.30 $0.17
Weighted average shares
outstanding:
Basic 28,753,253 28,750,945 28,761,784 28,806,086
Diluted 28,821,172 28,777,355 28,842,829 28,833,850
RENAISSANCE LEARNING(R), INC.
CONSOLIDATED BALANCE SHEETS
(dollar amounts in thousands)
(unaudited)
September 30, December 31,
2008 2007
ASSETS:
Current assets:
Cash and cash equivalents $23,939 $7,337
Investment securities 5,767 8,136
Accounts receivable, net 16,547 8,791
Inventories 5,646 6,273
Prepaid expenses 2,402 2,197
Income taxes receivable 2,853 1,450
Deferred tax asset 4,405 4,406
Other current assets 171 300
Total current assets 61,730 38,890
Investment securities 5,197 8,982
Property, plant and equipment, net 9,134 10,578
Goodwill 47,233 47,065
Other non-current assets 7,093 7,785
Total assets $130,387 $113,300
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable $2,184 $2,011
Deferred revenue 48,567 35,675
Payroll and employee benefits 4,701 4,184
Other current liabilities 4,306 3,563
Total current liabilities 59,758 45,433
Deferred revenue 2,935 2,707
Deferred compensation and other
employee benefits 1,501 1,933
Income taxes payable 4,614 5,104
Other non-current liabilities 199 136
Total liabilities 69,007 55,313
Total shareholders' equity 61,380 57,987
Total liabilities and shareholders'
equity $130,387 $113,300
Photo: http://www.newscom.com/cgi-bin/prnh/20001108/RENAISSANCELOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Renaissance Learning, Inc.
CONTACT: Susan Sutherland of Renaissance Learning, Inc., 1-877-988-8048, Fax, +1-715-424-3414, pr@renlearn.com
Web site: http://www.renlearn.com/
inTEST Schedules Third Quarter 2008Conference Call
CHERRY HILL, N.J., Oct. 16 /PRNewswire-FirstCall/ -- inTEST Corporation , a independent designer, manufacturer and marketer of semiconductor automatic test equipment (ATE) interface solutions and temperature management products, today announced that it will hold a conference call with investors and analysts on Wednesday, November 5, 2008 at 5 p.m. ET to discuss the Company's third quarter 2008 results and management's current expectations and views of the industry. The call may also include discussions of strategic, operating, product initiatives or developments, or other matters relating to the Company's current or future performance.
The news release announcing the third quarter results will be disseminated on November 5, 2008 after the market close.
The dial-in number for the live audio call beginning at 5 p.m. ET on November 5, 2008 is +1-201-689-8560 (international) or 1-877-407-0784 (domestic). A live web cast of the conference call will be available on inTEST's website at http://www.intest.com/.
A replay of the call will be available 2 hours following the call through midnight on Wednesday, November 12, 2008 at http://www.intest.com/ and by telephone at +1-201-612-7415 (international) or 1-877-660-6853 (domestic). The account number to access the replay is 3055 and the conference ID number is 300653.
About inTEST Corporation
inTEST Corporation is an independent designer, manufacturer and marketer of ATE interface solutions and temperature management products, which are used by semiconductor manufacturers to perform final testing of integrated circuits (ICs) and wafers. The Company's high-performance products are designed to enable semiconductor manufacturers to improve the speed, reliability, efficiency and profitability of IC test processes. Specific products include positioner and docking hardware products, temperature management systems and customized interface solutions. The Company has established strong relationships with semiconductor manufacturers globally, which it supports through a network of local offices. For more information visit http://www.intest.com/.
CONTACTS:
Hugh T. Regan, Jr., Treasurer and Chief Financial Officer, inTEST Corporation 856-424-6886, ext 201.
inTEST Corporation
CONTACT: Hugh T. Regan, Jr., Treasurer and Chief Financial Officer, of inTEST Corporation, +1-856-424-6886, ext 201.
Web Site: http://www.intest.com/
Avistar Receives 2008 INTERNET TELEPHONY Excellence AwardC3 Desktop Videoconferencing and Collaboration Solution Honored For Delivering Exceptional Communications
SAN MATEO, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Avistar Communications Corporation (http://www.avistar.com/) announced today that Technology Marketing Corporation (TMC) has named Avistar's C3 Desktop Videoconferencing and Collaboration solution as a recipient of a 2008 INTERNET TELEPHONY Excellence Award presented by INTERNET TELEPHONY magazine.
Avistar C3, the industry's leading desktop videoconferencing solution, earned the INTERNET TELEPHONY award for the deployment at California State University, Fresno's Lyles Center for Innovation and Entrepreneurship. Lyles Center staff, administrators and faculty can now meet face-to-face and collaborate through multi-party calls connected with a single click. The Lyles Center also extended videoconferencing capabilities to several programs with off-campus operations.
"Recognition by INTERNET TELEPHONY is testimony to the tremendous value Avistar C3's high-quality desktop videoconferencing provides to organizations. In addition to cost savings from reduced travel expenses and increased productivity, desktop videoconferencing allows for a distributed workforce without losing the person-to-person interactions that are key to teamwork and innovation," said Simon Moss, CEO, Avistar.
"We are proud to present Avistar with a 2008 INTERNET TELEPHONY Excellence Award. C3 Desktop Videoconferencing and Collaboration has proven its outstanding contribution to IP communications and delivers winning solutions for its customers," indicated Rich Tehrani, Editor-in-Chief, INTERNET TELEPHONY.
Greg Galitzine, Editorial Director, INTERNET TELEPHONY, added, "Taking risks to advance VoIP technology and provide real solutions has earned Avistar recognition from the editors of INTERNET TELEPHONY and an INTERNET TELEPHONY Excellence Award. C3 Desktop Videoconferencing and Collaboration has excelled in delivering solutions, and its customers are extremely pleased and have offered their testaments of support."
The 2008 INTERNET TELEPHONY Excellence Award winners have been published in the October 2008 issue of INTERNET TELEPHONY magazine, http://www.itmag.com/.
For more information, please visit http://www.tmcnet.com/.
About Avistar Communications Corp.
Avistar creates technology that provides the missing critical element in unified communications: bringing people in organizations face-to-face, through enhanced communications, for true collaboration anytime, anyplace. Its latest product, Avistar C3, draws on more than a decade of market experience to deliver a single-click desktop videoconferencing and collaboration experience that moves business communications into a new era. Available as a stand-alone solution, or integrated with existing unified communications software from other vendors, Avistar C3 provides users instant messaging-style ability to initiate video communications across and outside the enterprise. Patent protected dynamic bandwidth management enables thousands of users to access desktop videoconferencing, VoIP and streaming media, without requiring substantial new network investment or impairing network performance.
Avistar's desktop videoconferencing and collaboration installations are among the world's largest, including more than 18,000 seats sold in more than 40 countries. Clients report as much as a 20 percent reduction in travel expense and carbon emissions, increases in productivity and immeasurably improved relationship building within their organizations, as well as with suppliers and customers. Avistar holds a portfolio of 83 patents for inventions in video and network technology and licenses IP to videoconferencing, rich-media services, public networking and related industries. Current licensees include IBM Corporation, Sony Corporation, Sony Computer Entertainment Inc. (SCEI), Polycom, Inc., Tandberg ASA, Radvision Ltd., LifeSize Communications, Inc. and Emblaze-VCON. For more information, visit http://www.avistar.com/.
About INTERNET TELEPHONY Magazine
INTERNET TELEPHONY has been the VoIP Authority since 1998(TM). Since the first issue in February of 1998, INTERNET TELEPHONY magazine has been providing unbiased views of the complicated converged communications space. INTERNET TELEPHONY offers rich content from solutions-focused editorial content to reviews on products and services from TMC Labs. INTERNET TELEPHONY magazine has a circulation of 225,000 including pass-along readers. For more information please visit http://www.itmag.com/.
About TMC
Technology Marketing Corporation (TMC) publishes Customer Inter@ction Solutions, INTERNET TELEPHONY (http://www.tmcnet.com/cis), Unified Communications (http://www.tmcnet.com/unified-communications/Default.aspx), and IMS Magazine (http://www.tmcnet.com/ims/). TMCnet, TMC's Web site, is the leading source of news and articles for the communications and technology industries. Ranked in the top 5,200 most visited Web sites in the world by alexa.com*, TMCnet serves three million unique visitors each month. TMC is also the first publisher to test new products in its own on-site laboratories, TMC Labs. In addition, TMC produces INTERNET TELEPHONY Conference & EXPO (http://www.itexpo.com/), and Call Center 2.0 Conference (http://www.tmcnet.com/voip/conference/call-center) and Green Technology World Conference (http://www.tmcnet.com/green/green-technology-world-conference/07/conferences.htm). For more information about TMC, visit http://www.tmcnet.com/. (*alexa.com is an amazon.com company that ranks Web sites by their traffic levels. Neither alexa.com nor amazon.com is affiliated with TMCnet.) For more information about TMC, visit http://www.tmcnet.com/.
Avistar Communications Corporation
CONTACT: Margaret Bonilla of Birnbach Communications, +1-603-548-0693, mbonilla@birnbachcom.com, for Avistar; or Jan Pierret of TMC, +1-203-852-6800, ext. 228, jpierret@tmcnet.com
Web site: http://www.avistar.com/
FiSpace.net Initiates Market Futures Discussion for Investors of MSFT, CSCO, GOOG, MOT, HPQ, AAPL, and JNPR
IRVINE, Calif., Oct. 16 /PRNewswire/ -- FiSpace.net, which provides social networking tools for investors, has initiated a discussion of the current market crisis, inviting investors of the technology bellwethers below to discuss the short and long term prospects of the market and each company. In doing so, investors can discuss the sale or purchase of each company using the community to better refine their own opinions and decisions.
Investors of the following companies are encouraged to read and contribute at the link below: Microsoft Corporation , Cisco Systems, Inc. , Google Inc. , Motorola, Inc. , Hewlett-Packard Company , Apple Inc. , and Juniper Networks, Inc. .
To read or participate visit:
http://fispace.net/topic/sector/where-market-going-here#comment-64
Related commentaries:
Where is the Market Going from Here?
http://fispace.net/topic/sector/where-market-going-here
Parking Lot Futures: A Layman's Explanation of Derivatives
http://fispace.net/stock/financial/brokerages-funds-advisors
Congress Continues to Blatantly Fleece America.
http://fispace.net/editorss/blog/2008/10/03/congress-continues-blatantly-f leece-america
Can eBay Survive Its Makeover?
http://fispace.net/retail-stores/2008/06/26/can-ebay-survive-its-makeover
FiSpace.net is the premiere Internet destination for stock market readers and writers, allowing individuals to post blogs, articles, messages and more in organized sector channels, allowing for the effective exchange of ideas. By posting content on FiSpace.net individuals can acquire F.A.N.S. (Financial Networked Subscribers) who help increase the author's influence and standing on the site in an unprecedented way.
FiSpace.net is powered by Market Pathways, a leader in the financial community for nearly thirty years.
Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. FiSpace.net is the property of Market Pathways Financial Relations Inc. (MP). MP provides no assurance as any company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. The subject companies have not always approved the statements made in this report. This report is neither a solicitation to buy nor an offer to sell securities and is for information purposes only and shouldn't be used as the basis for any investment decision. MP isn't an investment advisor, analyst or licensed broker dealer and this report isn't investment advice. MP hasn't been paid for preparation and distribution of this report. This constitutes a conflict of interest as to MP's ability to remain objective in communication regarding subject companies. Market Pathways' analyst Brian Kelly holds CRD #2880975.
FiSpace.net
CONTACT: Shannon Squyres, Editor of Market Pathways-SectorWatch.biz, +1-949-955-0107, for FiSpace.net
Web Site: http://fispace.net/
Car Radio Sounds Set to Soar with Industry-First Digital-Input Audio Amplifier from STMicroelectronics
GENEVA, Oct. 16 /PRNewswire-FirstCall/ -- STMicroelectronics , the largest semiconductor supplier to the Automotive Infotainment segment, has introduced the world's first car audio-amplifier with digital input. Direct connection to the digital audio player eliminates the need for signal conversion, resulting in higher sound quality, better noise immunity, simpler system design and greater system reliability.
The industry's first automotive audio amplifier with digital input, ST's TDA7801 addresses the coming trend towards a fully digital head unit and sound systems in the car, delivering numerous advantages over existing solutions that are based on analog inputs and digital-analog converters.
ST's new power amplifier raises the bar in car-audio sound quality, in both dynamic range and signal-to-noise ratio (from around 90dB to more than 105dB), and delivers intrinsically pop-free operation without clicks or noises during car battery transitions. The elimination of analog lines on the car-radio board also results in superb noise immunity, so that, for example, the audible effects of the cellular network interference are effectively cancelled.
The state-of-the-art manufacturing process used for the TDA7801 contributes to the reliability and robustness of the car-audio system, reducing warranty issues and failures in the field. In addition, the device comes complete with the most advanced built-in diagnostic features. First integrated in a power amplifier by ST in 2000 and now a de facto standard, the embedded diagnostics help improve the quality of the car-audio system, making it even more reliable and reducing warranty issues by registering any accidental misconnection that could damage the amplifier.
As important, ST's fully digital audio power-amplifier design reduces the number of active and passive components, simplifying system design and delivering cost-savings at the system and manufacturing process levels.
The TDA7801 is the first member of ST's new Digital Automotive Audio amplifier family. The Company is currently readying further additions to the family: a Class-SBi (ST's patented efficiency class for the lowest power dissipation possible outside Class-D) version of the TDA7801 and a breakthrough digital-input Class-D solution that will deliver further increase in power savings.
The recognized leader in audio power amplifiers, ST currently commands 55% of the car audio power amplifier market.*
Samples of ST's TDA7801 are available now, with volume production scheduled for Q2 2009. Unit pricing is $6 for 1000 pieces.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2007, the Company's net revenues were $10.0 billion. Further information on ST can be found at http://www.st.com/.
* iSuppli 2008
STMicroelectronics
CONTACT: Michael Markowitz of STMicroelectronics, +1-212-821-8959, michael.markowitz@st.com
Web Site: http://www.st.com/
Hop-on at the Major League Baseball World Series
IRVINE, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Hop-on, Inc. (Pink Sheets: HPNN) announced today that it will continue the promotion of its New Disposable phone, the HOP1800, the worlds first $10.00 phone, at the 2008 MLB World Series games starting next week. Peter Michaels, President and CEO of Hop-on, states, "Hop-on is a small company, we are not Wall Street Financed, we are not currently profitable but we compete with Fortune 500 Companies. If I do my job right, we will be in the black this calendar year! This is why we are committed to go after these huge venues. This is a huge risk, we believe in our products."
Michaels also stated, "Our goal at these events is to gain further exposure so that our phone simply becomes an effective method of marketing and business for Hop-on and our corporate partners. For the consumer it is a disposable, low-cost phone that simply makes and receives calls. We have received an overwhelming amount of interest since the introduction of this phone earlier this summer. Our phone has literally sold itself. The HOP1800 has clear sound, technology components including a flashlight, and a design comparable to any mid-tier cell phone on the market for a fraction of the cost."
The HOP1800 is just one of Hop-on's 1800 Series phones that have been introduced this year. The new series of phones include the HOP1801 Smart Phone, the lowest cost Smart Phone on the market. The HOP1803, an Ultra Low Price GSM Tri-Band phone, and the HOP1805, an Ultra Low Price cell phone for emerging markets. All three phones will be available for distribution in North and South America, Asia, the Middle East and Africa. Available in North and South America is the HOP1808 a Dual-band phone, and the HOP1809 3G mobile phone with camera. The HOP1800, the Lowest Cost mobile phone is a GSM Dual-band simple phone with no display that features a Braille keypad and built-in flashlight. And finally, the HOP1890 the Dual-band ChitterChatter. With a large, bright screen with large text that is easy to read and bigger buttons that are easy to push, dialing and making calls is easier than ever. The ChitterChatter phone is specific for ease of use for seniors. Michaels also stated, "The ChitterChatter for Seniors will bring our company a monthly recurring revenue stream".
Hop-on (HPNN-Pink Sheets) develops and markets wireless phones and accessories for emerging market and other domestic carriers and is best known for developing the world's first disposable cell phone. Currently, Hop-on is expanding into value-added services, like mobile gambling and SMS wagering. Hop-on's exclusive software will allow users to stream live interactive feed from legal jurisdictions to play poker, blackjack, roulette and baccarat on personal cell phones.
For more information, visit http://www.hop-on.com/.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All Statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
CONTACT: Hop-on, Inc.
Danny Coleman (949) 756-9008
Hop-on, Inc.
CONTACT: Danny Coleman of Hop-on, Inc., +1-949-756-9008
Web site: http://www.hop-on.com/
Large Independent Bank Secures Its IT Infrastructure With NovellUMB Financial Corp. chooses portfolio of Novell solutions to improve customer access and ensure the availability of its mission critical applications
WALTHAM, Mass., Oct. 16 /PRNewswire-FirstCall/ -- One of the largest independent banks in America, UMB Financial Corp., (UMB) is implementing Novell(R) identity management solutions on SUSE(R) Linux Enterprise Real Time to streamline user access and increase data security. A multi-bank holding company headquartered in Kansas City, MO, UMB has 3,500 employees and offers complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide. With Novell, UMB has streamlined user access, reduced information technology (IT) administration time and improved its ability to comply with regulatory requirements.
"We are always looking for ways to make it more convenient for our customers to do business with us," said Kanon Cozad, senior vice president and director of Application Development at UMB. "We chose Novell because we needed solutions that could work across multiple platforms and systems and because they support open standards, which fits our business model. Novell is helping us keep a competitive advantage in attracting and retaining our customers as we now have the right foundation to keep up with bigger players in our market and stay ahead of smaller ones."
As a diverse financial holding company, UMB wanted to simplify customer access to its many different products and services. The IT staff was managing user identity information across dozens of systems in a complex environment, resulting in customers having to remember multiple log-in identifications (IDs) and passwords to access their accounts. UMB also operates in an extremely regulated industry and needed to ensure the security of confidential customer information.
UMB evaluated several identity management solutions before selecting Novell Identity Manager and Novell Access Manager(TM) to run on SUSE Linux Enterprise Real Time. With assistance from Novell Consulting(R), the bank has integrated its customer-facing applications for online banking and cash management, providing thousands of retail and commercial customers with a holistic view of their accounts. Novell Access Manager provides single sign-on access to all portal applications, which reduces passwords by 75 percent and password-related helpdesk requests by 30 percent.
With its Novell identity management solution running on SUSE Linux Enterprise Real Time for maximum efficiency, UMB has streamlined user identity information for nearly 150,000 users, increasing the level of convenience for retail and commercial customers, as well as employees. Centralized user management has greatly improved data accuracy and security, while reducing IT administration time by 25 percent. Streamlining user management has also reduced the time spent on audits, thus improving the bank's ability to comply with Sarbanes-Oxley and a myriad of other regulatory requirements.
"Making it convenient for customers to view and manage their accounts online with around the clock access is a key competitive advantage for financial services companies," said Jim Ebzery, senior vice president and general manager of Identity and Security Management at Novell. "Streamlining identity management helps UMB safeguard its data and improve customer access to information and services. The bank can also complete its audits significantly faster and react quickly to new regulatory requirements without business interruption."
For more information about Novell identity and security management solutions, visit http://www.novell.com/identityandsecurity. For more about SUSE Linux Enterprise Real Time, visit http://www.novell.com/products/realtime.
About Novell
Novell, Inc. delivers the best engineered, most interoperable Linux* platform and a portfolio of integrated IT management software that helps customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit http://www.novell.com/.
About UMB
UMB Financial Corporation is a multi-bank holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide. Its banking subsidiaries own and operate 135 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include an investment services group based in Milwaukee, Wis., single-purpose companies that deal with brokerage services and insurance, and registered investment advisors for proprietary mutual funds.
Novell and SUSE are registered trademarks and Access Manager is a trademark of Novell, Inc. in the United States and other countries. * All third-party trademarks are property of their respective owners.
Novell, Inc.
CONTACT: Amie Johnson of Novell, +1-801-861-2893, amie@novell.com
Web site: http://www.novell.com/
National City Launches 'Real Stories' Web Site Focused on Real PeopleNationalCity.com/RealStories Features National City Customers Sharing Their Personal Experiences
CLEVELAND, Oct. 16 /PRNewswire-FirstCall/ -- There are many important measures of a company's strength, but perhaps most the important measure for National City is the strong and loyal relationships it has with its customers, relationships built over 163 years of service.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030428/NATIONALCITYLOGO )
That's one reason the company has continued to gain market share, even in these tumultuous times, and has risen from the 11th to the seventh largest bank in the country by deposits according to the FDIC.
"We have extraordinarily loyal customers who have stayed with us throughout the market fluctuations, and in many cases expanded their relationships," said National City Chairman, President and CEO Peter E. Raskind. "We earn that loyalty from them every day in the personal service our employees provide, from simply knowing our customers by name to going the extra mile to exceed their expectations."
To showcase the strength of its customer relationships and to give people a taste of what it's like to be a National City customer, the company has launched a new Web site (NationalCity.com/RealStories) featuring real customers telling their personal stories about why they are so loyal to National City.
The stories were collected as part of research National City recently conducted, in which the company interviewed more than 5,000 customers to better understand the dynamics of their loyalty. A common theme emerged: Nearly every story centered on a National City employee who went out of his or her way to help a particular customer overcome an obstacle or work through some financial situation.
"What's often lost in discussions about the relative strength of banks these days is that behind the numbers, there's an important human element that's contributing to customer retention and acquisition," said Raskind. "In our case, customer loyalty has provided us with a strong deposit base and foundation for future growth, and it's one of the reasons we continue to be optimistic about our future."
The site will be promoted by advertisements placed in more than 160 regional publications throughout National City's nine-state footprint today. New stories will debut on the site every few weeks, and each is complemented by a series of integrated pop-up facts that give visitors a behind-the-scenes peek into how each story developed.
About National City
National City Corporation , headquartered in Cleveland, Ohio, is one of the nation's largest financial holding companies. The company operates through an extensive banking network primarily in Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Wisconsin and also serves customers in selected markets nationally. Its core businesses include corporate and retail banking, mortgage financing and servicing, consumer finance and asset management. For more information about National City, visit the company's Web site at http://www.nationalcity.com/.
Photo: http://www.newscom.com/cgi-bin/prnh/20030428/NATIONALCITYLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
National City Corporation
CONTACT: Media: Kristen Baird Adams, +1-216-222-8202, Kristen.BairdAdams@NationalCity.com, or for Investors: Jill Hennessey, +1-216-222-9253, Jill.Hennessey@NationalCity.com, both of National City Corporation
Web site: http://www.nationalcity.com/ http://www.nationalcity.com/RealStories
AT&T to Provide $250,000 to Help Improve and Strengthen Opportunities for Diverse, Small Business Owners in CaliforniaTen organizations to receive funding through company's Micro Enterprise Technical Assistance Program
SAN FRANCISCO, Oct. 16 /PRNewswire-FirstCall/ -- AT&T California today announced that it has awarded 10 California Microenterprise Development Organizations (MDOs) each with $25,000 in funding as part of the company's ongoing commitment to supplier diversity. Launched in 2006, AT&T's Micro Enterprise Technical Assistance Program (MTAP) is designed to help strengthen the operations and improve the sustainability of traditionally underserved, self-employed and small-business owners in California.
"This year AT&T is celebrating the 40th anniversary of our supplier diversity programs and we remain committed to facilitating the development of new business opportunities for minority-owned firms and other diverse small businesses," said Ken McNeely, president, AT&T California. "We want to ensure that all business owners are included in emerging industries and technology opportunities, and our MTAP program goes a long way towards helping California small businesses survive and thrive."
"Providing resources to strengthen and enhance the capabilities of minority small businesses is a key component to any supplier diversity program," said Assemblyman Curren Price, D - Inglewood and Chair of the Assembly Select Committee on Procurement. "This effort will help small minority businesses develop the skills needed to promote and maintain important business relationships."
The 10 organizations receiving funding have demonstrated a successful track record of providing training and technical assistance to low- and moderate-income aspiring and existing small business owners across California.
The award recipients are:
Agriculture & Land Based Training Association, Salinas -- To offer organic and sustainable farming business training accredited by Hartness Community College to the Latino community by providing educational and economic empowerment for aspiring and transitioning farmers.
CHARO, Los Angeles -- To provide counseling and program support for a variety of short-term and long-term business development training programs for the Latino community, including ABCs of Starting Your Own Business, Entrepreneur Training and Advanced Entrepreneur Training.
Jefferson Economic Development Institute, Mount Shasta -- To support business development services for rural-based enterprises with training in loan preparation and analysis, business vitality assessment, advanced financial management series and advanced marketing.
La Cocina, San Francisco -- To support a kitchen incubator program that addresses the need for affordable kitchen space and industry-specific training for Latino food service businesses. The program offers shared-use and commercial kitchen facilities, and training on culinary and food industry skills, techniques and regulations.
Mabuhay Alliance, San Diego -- To provide Asian-Pacific Islander micro-business owners with fundamental business management skills training.
Renaissance Entrepreneurship Center, San Francisco -- To expand its Spanish language introduction to business planning classes for aspiring and existing women entrepreneurs.
Spanish Speaking Unity Council, Oakland -- To provide technical assistance services to Fruitvale Public Market clients and Fruitvale area merchants, including financial training in collaboration with local banks.
Tri-County Economic Development Corporation, Chico -- To expand its incubation program serving rural communities and providing mentoring, financial and technical assistance training.
Urban Solutions, San Francisco -- To provide business development consulting services to residents of the Western Addition, a redevelopment agency project, and provide training in business skills and financial literacy.
Yuba Sutter Economic Development Corporation, Yuba City -- To expand business training to rural communities by leveraging the Yuba Community College district's Webinar program.
"Promoting economic development and self sufficiency in the growing Latino community in California is important to bringing growth and stability to the state," said Assemblyman Joe Coto, D - San Jose and Chair of the Latino Legislative Caucus. "AT&T's support of Microenterprise Development Organizations, dedicated to providing support and training to Latino entrepreneurs, is needed to help these businesses compete. "
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. In 2008, AT&T again ranked No. 1 on Fortune magazine's World's Most Admired Telecommunications Company list and No. 1 on America's Most Admired Telecommunications Company list. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
AT&T Inc.
CONTACT: H. Gordon Diamond of AT&T Inc., +1-415-778-1230, hgdiamond@att.com
Web site: http://www.att.com/
Hop-on at the Major League Baseball World Series
IRVINE, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Hop-on, Inc. (Pink Sheets: HPNN) announced today that it will continue the promotion of its New Disposable phone, the HOP1800, the worlds first $10.00 phone, at the 2008 MLB World Series games starting next week. Peter Michaels, President and CEO of Hop-on, states, "Hop-on is a small company, we are not Wall Street Financed, we are not currently profitable but we compete with Fortune 500 Companies. If I do my job right, we will be in the black this calendar year! This is why we are committed to go after these huge venues. This is a huge risk, we believe in our products."
Michaels also stated, "Our goal at these events is to gain further exposure so that our phone simply becomes an effective method of marketing and business for Hop-on and our corporate partners. For the consumer it is a disposable, low-cost phone that simply makes and receives calls. We have received an overwhelming amount of interest since the introduction of this phone earlier this summer. Our phone has literally sold itself. The HOP1800 has clear sound, technology components including a flashlight, and a design comparable to any mid-tier cell phone on the market for a fraction of the cost."
The HOP1800 is just one of Hop-on's 1800 Series phones that have been introduced this year. The new series of phones include the HOP1801 Smart Phone, the lowest cost Smart Phone on the market. The HOP1803, an Ultra Low Price GSM Tri-Band phone, and the HOP1805, an Ultra Low Price cell phone for emerging markets. All three phones will be available for distribution in North and South America, Asia, the Middle East and Africa. Available in North and South America is the HOP1808 a Dual-band phone, and the HOP1809 3G mobile phone with camera. The HOP1800, the Lowest Cost mobile phone is a GSM Dual-band simple phone with no display that features a Braille keypad and built-in flashlight. And finally, the HOP1890 the Dual-band ChitterChatter. With a large, bright screen with large text that is easy to read and bigger buttons that are easy to push, dialing and making calls is easier than ever. The ChitterChatter phone is specific for ease of use for seniors. Michaels also stated, "The ChitterChatter for Seniors will bring our company a monthly recurring revenue stream".
Hop-on (HPNN-Pink Sheets) develops and markets wireless phones and accessories for emerging market and other domestic carriers and is best known for developing the world's first disposable cell phone. Currently, Hop-on is expanding into value-added services, like mobile gambling and SMS wagering. Hop-on's exclusive software will allow users to stream live interactive feed from legal jurisdictions to play poker, blackjack, roulette and baccarat on personal cell phones.
For more information, visit http://www.hop-on.com/.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All Statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
CONTACT: Hop-on, Inc.
Danny Coleman (949) 756-9008
Hop-on, Inc.
CONTACT: Danny Coleman of Hop-on, Inc., +1-949-756-9008
Web site: http://www.hop-on.com/
Pratt & Whitney Awarded $1.4 Billion Contract for F117 Engine Support
EAST HARTFORD, Conn., Oct. 16 /PRNewswire/ -- The Boeing Company awarded Pratt & Whitney a contract with a value of up to $1.4 billion to support the C-17 aircraft fleet. This F117 engine maintenance agreement includes a one year contract and the option to extend for two additional years through 2011. Pratt & Whitney is a United Technologies Corp. company.
"This contract extension allows Pratt & Whitney's F117 team to continue meeting its customers' expectations in the areas of engine availability, reliability and maintainability while keeping its customers' fleets at a high level of readiness around the world," said Bill Begert, vice president of business development and international programs, Pratt & Whitney. "We are very proud to continue our support of The Boeing Company and we are always mindful of the significance of quality, reliability and performance to the men and women in uniform, our ultimate customer."
This F117 contract covers fleet management support, configuration control, thrust reversers and EcoPower(R) engine wash services for the entire F117 fleet of 800 engines. Pratt & Whitney's EcoPower(R) service uses a closed-loop system with pure, atomized water to wash aircraft engines, thus avoiding potential contaminant runoff. The system is more effective and much faster than traditional engine washing processes.
Four F117s provide exclusive power for the C-17 Globemaster III -- the world's premier heavy airlifter. With more than 5.8 million hours of proven military service and more than 40 million hours in commercial use, the F117/PW2037 reinforces Pratt & Whitney's promise to deliver Dependable Engines. The F117-PW-100 is a derivative of Pratt & Whitney's PW2037 commercial engine powering the Boeing 757. The F117 has consistently proven itself as a world-class reliable engine. With Pratt & Whitney's ongoing investment in product improvements, the engine continuously surpasses established goals for time on wing, in-flight shut downs, and support turnaround time.
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.
This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in the Globemaster III funding related to the C-17 aircraft and F117 engines, changes in government procurement priorities and practices or in the number of aircraft to be built; challenges in the design, development, production and support of technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corporation's Securities and Exchange Commission filings.
Erin Dick Jennifer Whitlow
Pratt & Whitney Military Engines Pratt & Whitney
860.557.0122 860.565.9600
erin.dick@pw.utc.com jennifer.whitlow@pw.utc.com
Pratt & Whitney
CONTACT: Erin Dick of Pratt & Whitney Military Engines, +1-860-557-0122, erin.dick@pw.utc.com, or Jennifer Whitlow of Pratt & Whitney, +1-860-565-9600, jennifer.whitlow@pw.utc.com
Web site: http://www.pratt-whitney.com/
Omni-Lite receives new orders in the Sports and Recreation, Aerospace, and Speciality Automotive divisionsOML-TSX VENTURE
CERRITOS, CA, Oct. 16 /PRNewswire-FirstCall/ -- Omni-Lite Industries Canada Inc. is pleased to announce that it has received several new orders in the Sports and Recreation, Aerospace, and Speciality Automotive divisions. The total value of these orders is approximately $436,000 US ($510,000 CDN). Most of these products will be delivered in the fourth quarter of 2008.
"Total revenue for the first nine months of fiscal 2008 reached a record of approximately $6,085,000 US," stated Paul A. Burkey, President and COO. "This is an increase of approximately 20% over the same period in 2007. Revenue for the third quarter was also a record at approximately $2,066,000. Of particular significance, the Company has completed the development of three new components with first article approval expected from the customers this month. Several other new products are expected to be available for customer approvals in November. At this point, the Company is still in the aggressive stage of new program development, with an additional 12 new projects in pipeline. The completion of these programs bodes well for the Company's growth in 2009."
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 50 companies including Boeing, Airbus, Alcoa, Chrysler, the U.S. Military, Nike, adidas and Reebok.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.
Omni-Lite Industries Canada Inc.
CONTACT: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510 or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: info@omni-lite.com, Website: http://www.omni-lite.com/
Chiffre d'affaires Groupe NEYRIAL
CLERMONT-FERRAND, France, October 16 /PRNewswire/ --
- 1er Octobre 2007 au 30 septembre 2008
Le chiffre d'affaires annuel facturé du Groupe NEYRIAL HAUTE TECHNOLOGIE,
période allant du 1er octobre 2007 au 30 septembre 2008, s'établit à 15,5
millions d'euros dont 25% de services.
Le chiffre d'affaires de l'exercice précédent 2006/2007 tenait compte des
cinq activités qui ont été cédées : Neyrial Grand Est, Artel, les activités
<< gestion >> et << santé >> de Neyrial Centre France, et le magasin de
Clermont Ferrand .
Ainsi à périmètre comparable, le chiffre d'affaires annuel s'établit en
baisse d'un peu plus de 10%, compte tenu en partie de la réduction des prix
des matériels.
Le résultat, qui est attendu en bénéfice, sera communiqué courant janvier
2009, après audit des commissaires aux comptes.
Le Groupe NHT s'appuie sur une structure financière toujours très solide
(rappel à fin septembre 2007 : Fonds Propres de 3,1 millions d'euros pour une
Trésorerie Nette de 2,5 millions d'euros).
Pour l'exercice 2008/2009, malgré le contexte économique perturbé par la
crise financière, le groupe NHT est confiant et continue son développement de
l'activité service, notamment basée sur l' externalisation de l'informatique
des entreprises souhaitant se concentrer sur leur coeur de métier.
Infrastructure, Gestion de projets, hébergement sécurisé de données,
délégation de personnels experts, sont les principaux axes de développement
du Groupe NEYRIAL.
A propos du Groupe NEYRIAL HAUTE TECHNOLOGIE
Créé en 1980 à Clermont-Ferrand et coté sur le Marché Libre depuis le 16
juillet 1998, le Groupe NHT se positionne comme le fournisseur de solutions
informatiques globales privilégié de l'entreprise (ou VAR - Value Added
Reseller).
Parmi ses références, le Groupe Neyrial compte plusieurs milliers de PME
PMI , ainsi que de grandes sociétés privées et publiques telles Michelin,
Caisse d'Epargne, Crédit Agricole, Banque de France, Ministère de la Justice,
CHRU, Conseils Régionaux, Conseils Généraux etc.
Pour plus d'informations :
Service communication actionnaires
e-mail : neyrial@neyrial.com
Tel : +33(0)473-60-7000
Adresse Internet : http://www.nht.fr
Neyrial Haute Technologie
Pour plus d'informations : Service communication actionnaires, e-mail : neyrial@neyrial.com, Tel : +33(0)473-60-7000
Verizon Wireless Gives Northern California's Toby Love Fans Reason to CelebrateFans can meet the Latin artist at select Verizon Wireless stores; exclusive Toby Love tracks available through V CAST Music with Rhapsody(R)
WALNUT CREEK, Calif., Oct. 16 /PRNewswire/ -- Verizon Wireless is bringing urban bachata artist Toby Love to meet fans and sign autographs in Sacramento. The artist will be making the appearance in Sacramento as part of his five- stop west coast tour to launch his second album, "Love Is Back".
Meet Toby Love in Sacramento for his autograph
Thursday, October 16, 2008 - 5:00 p.m.
Verizon Wireless Communications Store
6005 Florin Road, Sacramento, CA 95823
Fans can also download exclusive Toby Love content from Verizon Wireless' V CAST Music with Rhapsody(R) store. "Vuelve", and an acoustic version of his latest single from "Love Is Back, "Llorar Lloviendo", are now available exclusively to Verizon Wireless customers.
"Love Is Back" is the second release for Love. The new album's first hit single, "Llorar, Lloviendo," reached the top of the Billboard charts for both U.S. Latin Tropical Airplay and U.S. Hot Latin Tracks.
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: Heidi Flato, +1-925-279-6545, Heidi.Flato@verizonwireless.com
Web site: http://www.verizonwireless.com/
Live Webinar: Blended Learning and the Bottom LineHow Northwestern's Mediasite Program Increased Enrollment By 50%
MADISON, Wis., Oct. 16 /PRNewswire-FirstCall/ -- Sonic Foundry, Inc. , the recognized market leader for rich media webcasting and knowledge management, will host a live webinar featuring faculty from the prestigious Northwestern University Prosthetic-Orthotics Center (NUPOC).
Two years ago NUPOC was facing a bottom-line challenge: more students were looking to enroll in a program with limited resources and facilities. The center made a bold move by completely transitioning to a blended learning format, integrating the most advanced educational technologies -- including Mediasite -- into the curriculum. NUPOC's combination of online instruction with onsite clinical coursework has fostered collaborative learning environments that increased the number of graduating practitioners while holding the line on administrative expenses.
Join Jodi Fox, Director of Distance Learning, as she shares strategies NUPOC used to:
-- Boost annual enrollment by 50 percent
-- Reduce students' non-tuition costs by up to 60 percent
-- Develop a core content delivery system with Mediasite, featuring 350
live and on-demand asynchronous presentations
-- Create a vital, exciting and interactive learning experience through
Mediasite lectures, special guests, instant messaging and live chats
Presenters:
Jodi Fox, Director of Distance Learning at Northwestern University
Prosthetic-Orthotics Center
Sean Brown, Vice President of Education for Sonic Foundry, will moderate
When: Tuesday, October 21, 2008 from 11:00 a.m. - 11:45 a.m. Central. Also
available on demand.
Where: To register for this complimentary online webinar, visit:
http://www.sonicfoundry.com/register
About Sonic Foundry(R), Inc.
Sonic Foundry is the global leader for rich media webcasting and knowledge management, providing enterprise communication solutions for more than 1,200 customers in education, business and government. Powered by Mediasite, the patented webcasting platform which automates the capture, management, delivery and search of lectures, online training and briefings, Sonic Foundry empowers people to transform the way they communicate. Through the Mediasite platform and its Events Services group, the company helps customers connect a dynamic, evolving world of shared knowledge and envisions a future where learners and workers around the globe use webcasting to bridge time and distance, accelerate research and improve performance.
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Sonic Foundry's products, its ability to succeed in capturing significant revenues from media services and/or systems, the effect of new competitors in its market, integration of acquired business and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.
Sonic Foundry, Inc.
CONTACT: Tammy Kramer of Sonic Foundry, Inc., +1-608-237-8592, tammyk@sonicfoundry.com
Web site: http://www.sonicfoundry.com/
Panasonic Employees Take Part in Global Environmental CampaignWorldwide Effort Encompasses 342 Panasonic Offices and Factories in 39 Countries and Regions Around the World.North American Focus on Meadowlands Birds and Beach Cleanup
SECAUCUS, N.J., Oct. 16 /PRNewswire-FirstCall/ -- Panasonic Corporation of North America announced today that employee volunteers at its headquarters in Secaucus have launched their initiative as part of Panasonic's Global Eco Relay Campaign.
The Eco Relay is intended to implement environmental sustainability in all aspects of Panasonic companies around the world by engaging employees to participate in community-focused eco friendly activities including beach and park clean-ups, tree planting and building natural habitats for local bird species.
The program is part of Panasonic's Eco Ideas Declaration, which is aimed at promoting eco-friendly practices in manufacturing processes, product development and through company sponsored employee initiatives. The worldwide Eco Relay campaign was inspired by a Panasonic employee's suggestion.
The North American arm of the Eco Relay event is part of a worldwide effort that encompasses 342 Panasonic offices and factories in 39 countries and regions around the world. The Eco Relay engages Panasonic employees, as well as their families, friends and neighbors, to support environmental initiatives that are tailored to local conditions. The Eco Relay began in Japan on October 4, and has traveled to Panasonic offices in Asia and Oceania, Europe, Latin America, China and northeast Asia.
"The Eco Relay event calls upon the good spirit of each and every Panasonic employee around the world to help improve the environment and bring closer together the global community we live in," said Joe Taylor, Chief Operating Officer, Panasonic Corporation of North America.
Birdhouse Nesting Program
Panasonic employees (and their families) have partnered with the Meadowlands Environmental Commission to build and place 35 nest boxes for Tree Swallows, a bird species with a population concentrated in New Jersey's Meadowlands. Six nest boxes were placed this week with the majority of the boxes to be placed in February and March in Mill Creek Marsh Park in Secaucus, NJ. Over-development and pollution in nearby areas has forced birds like the Tree Swallow to leave their natural habitat and nest in other regions. Panasonic provided the wood and materials used to build the nest boxes and volunteers cut the designs and then assembled the nest boxes.
Panasonic Creative Design Scholarship Contest
In the second part of the Eco Relay program, Panasonic kicked off the 2009 Panasonic Creative Design Contest which features an eco-friendly theme. The Creative Design Contest was established in 1991 by Panasonic, in partnership with the New Jersey Institute of Technology, to promote team learning and collective approaches to science, engineering and robotics for high school students in New Jersey. This year's contest, "2009 Beach Sweeps," was designed to promote Panasonic's ongoing commitment to preserving the environment. More than $42,000 in scholarship money will be awarded.
In this year's Creative Design Contest, student teams from high schools throughout New Jersey will design and construct a robotic device and control that can clean up beaches and shore lines. The robotic devices will have to perform a number of tasks including picking up and sorting plastics and metals for recycling, powering a light house via solar panels, planting sea grass in sand dunes, plugging a sewage pipe that drains into the ocean and moving artificial coral reef into the ocean to protect shore lines.
To further promote and encourage eco friendly building, students are requested to use environmentally sound items for their robotic designs. Teams will have six months to conceptualize and build their device. During that time, teams are required to maintain professional engineering log books to exhibit their full understanding of the engineering process and the importance of documenting their ideas, concepts and approaches used to develop the robotic device. Students will also be called upon to make oral presentations and provide written documentation of their work.
The top four winning teams will receive scholarship support from Panasonic with each member from the first place team receiving $5,000. In addition to the scholarships, the winning teams will also be rewarded with classroom resources that will inspire teachers and students to become more conscious of the global environment and learn about eco initiatives that help make a difference.
"Panasonic recognizes that a great need exists to cultivate the local engineering skills of aspiring youth," said Taylor. "Panasonic's long-standing cooperation with local learning institutions like the New Jersey Institute of Technology to create the Panasonic Creative Design Challenge is evidence of the company's commitment in this area."
The Creative Design Contest Finals competition will take place on March 26, 2009, at the New Jersey Performing Arts Center. Last year's Creative Design Contest was won by students from the Delbarton School in Morristown, N.J.
About the Panasonic Eco Ideas Declaration
Since October 2007, Panasonic has been actively involved in environmental conservation activities. Last year the company announced its Eco Ideas Declaration consisting of three concepts: Eco Ideas for Products, Eco Ideas for Manufacturing and Eco Ideas for Everybody, Everywhere. The Panasonic Eco Relay campaign is one of the Eco Ideas for Everybody, Everywhere initiative. The Eco Ideas Declaration has helped Panasonic reduce CO2 emissions through improved productivity and enhanced resource conservation and waste reduction. In pursuit of energy-efficient product improvements, the company has also cut the energy consumption of its Plasma Display Panel television units by up to 30 percent.
About Panasonic Corporation of North America
Based in Secaucus, NJ, Panasonic Corporation of North America markets a broad line of digital and other electronics products for consumer, business and industrial use. The company is the principal North American subsidiary of Panasonic Corporation -- formerly Matsushita Electric Industrial Co., Ltd. of Japan -- and the hub of Panasonic's U.S. branding, marketing, sales, service and R&D operations. Information about Panasonic and its products is available at http://www.panasonic.com/. Additional company information for journalists is available at http://www.panasonic.com/pressroom.
About Panasonic
Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 9.07 trillion yen (US$90.7 billion) for the year ended March 31, 2008. The company's shares are listed on the Tokyo, Osaka, Nagoya and New York stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://www.panasonic.net/.
Panasonic
CONTACT: Chris De Maria of Panasonic, +1-201-348-7182, demariac@us.panasonic.com; or Alix Dunn of Cohn & Wolfe, +1-212-798-9795, alix.dunn@cohnwolfe.com
Web Site: http://www.panasonic.com/ http://www.panasonic.com/environmental
Tackett Joins YTB as Chief Marketing OfficerTackett's Wealth of Experience to Enhance YTB's Marketing
WOOD RIVER, Ill., Oct. 16 /PRNewswire-FirstCall/ -- YTB International, Inc. (BULLETIN BOARD: YTBLA) ("YTB" or the "Company"), a leading provider of Internet-based travel websites and home-based independent representatives in the United States, Bermuda, Canada, and the Bahamas, today announced that James M. Tackett has joined their Executive Team as Chief Marketing Officer.
Tackett is a talented writer, producer and director, bringing over 22 years of video, television, and production experience to his role at YTB. Working extensively in the network marketing industry, Tackett has produced and consulted for companies such as Avon, Nikken, Herbalife, Pre-Paid Legal, Shaklee, and Primerica. Mr. Tackett also enjoyed over nine years' experience as a producer with Video Plus, a premier supplier to the direct selling industry.
He has also produced various broadcast and syndicated television shows as well as in-flight programming for United Airlines.
"We are excited and honored to include James in our fine executive team," said J. Scott Tomer, Chief Executive Officer of YTB. "With his broad experience and talent, we have positioned ourselves to take our marketing initiatives to the next level."
About YTB International
Recognized as the 26th largest seller of travel in the U.S. in 2007 by Travel Weekly, YTB International, Inc. provides Internet-based travel booking services for home-based independent representatives in the United States, Puerto Rico, the Bahamas, Canada, Bermuda, and the U.S. Virgin Islands.
YTB International, Inc. operates through three subsidiaries: YourTravelBiz.com, Inc., YTB Travel Network, Inc., and REZconnect Technologies, Inc. YourTravelBiz.com focuses on selling online travel websites through a nationwide network of independent business people, known as 'Reps.' YTB Travel Network establishes and maintains travel vendor relationships, processes travel transactions of online travel agents and affiliates, collects travel commissions and pays sales commissions. Each RTA directs consumers to the YTB Internet-based travel website. REZconnect Technologies hosts a travel agency for traditional travel agents and offers franchises of brick and mortar travel agencies. For more information, visit http://www.ytbi.com/investor.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
Media Contact:
Marcia Dempsey
Director of Public Relations
YourTravelBiz.com
618.216.4646
mdempsey@ytb.com
ytbi.com/investor/
Investor Contact:
Yemi Rose / Garth Russell
KCSA Strategic Communications
212/896.1233 / 212.896.1250
YTB International, Inc.
CONTACT: Media, Marcia Dempsey, Director of Public Relations of YourTravelBiz.com, +1-618-216-4646, mdempsey@ytb.com; or Investors, Yemi Rose, +1-212-896-1233, or Garth Russell, +1-212-896-1250, both of KCSA Strategic Communications
Web Site: http://www.ytb.com/ http://www.ytbi.com/investor
TechTeam Global to Hold Live Webcast to Discuss Company's Strategic Plan
SOUTHFIELD, Mich., Oct. 16 /PRNewswire-FirstCall/ -- TechTeam Global, Inc. , a worldwide provider of information technology (IT) services, enterprise support, and business process outsourcing services, today announced that Gary Cotshott, President and Chief Executive Officer, will host an investor teleconference at 4:00 p.m. EDT, Thursday, October 23, 2008 to discuss the company's recently completed strategic plan, the second phase of the company's three-phase transformation.
To participate in the teleconference, including the question and answer session that will follow the results announcement and discussion, please call 1-800-299-7089 (outside the United States, call +1-617-801-9714). When prompted, enter the passcode: 50095461. To access a simultaneous webcast of the teleconference, go to the TechTeam Global Web site at http://www.techteam.com/investors and click on the webcast icon. From this site, you can download the necessary software and listen to the teleconference. Attendees are encouraged to review the site before the teleconference to ensure that their computers are configured properly.
A taped replay of the call will be available beginning at approximately 6:00 p.m. EDT, Thursday, October 23, 2008. This toll-free replay will be available through Thursday, November 6, 2008. To listen to the teleconference replay, call 1-888-286-8010 (outside the United States, call +1-617-801-6888). When prompted, enter the passcode: 23683962.
About TechTeam Global, Inc.
TechTeam Global, Inc. is a worldwide provider of information technology services, enterprise support and business process outsourcing services to Fortune 1000 corporations, multinational companies, product providers, small and medium-sized companies, and government entities. TechTeam's ability to integrate computer services into a flexible, ITIL-based solution is a key element of its strategy. Partnerships with some of the world's "best-in-class" corporations provide TechTeam with unique expertise and experience in providing information technology support solutions. For information about TechTeam Global, Inc. and its services, call 800-522-4451 from the United States or visit our Web sites at http://www.techteam.com/ and http://www.techteam.eu/ . TechTeam's common stock is traded on the Nasdaq Global Market under the symbol "TEAM."
Safe Harbor Statement
The statements contained in this press release that are not purely historical, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, are 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. Forward-looking statements include statements regarding, among other things, the potential impact of this acquisition on the Company's revenue and earnings performance going forward. Forward-looking statements may be identified by words including, but not limited to, "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "conditioned upon," and similar expressions. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. There can be no assurance that it will have the impact on the Company's financial condition and results of operations contemplated in this release. The forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statement. Prospective investors should also consult the risks described from time to time in the Company's Reports on Forms 8-K, 10-Q, and 10-K filed with the United States Securities and Exchange Commission.
TechTeam Global, Inc.
CONTACT: Chris Donohue, VP, Global Strategy & Marketing of TechTeam Global, Inc., +1-248-357-2866, cdonohue@techteam.com; or Jessica Klenk, +1-301-588-2900 Ext. 121, jklenk@boscobel.com, or Michael Rudd, +1-301-588-2900 Ext. 115, mrudd@boscobel.com, both of Boscobel Marketing Communications
Web site: http://www.techteam.com/ http://www.techteam.com/investors http://www.techteam.eu/
Mercury Computer Systems to Hold its Ninth Annual Investor Conference on October 29, 2008
CHELMSFORD, Mass., Oct. 16 /PRNewswire-FirstCall/ -- Mercury Computer Systems, Inc. announced that it will host its ninth annual investor conference on Wednesday, October 29, 2008 at 9:00 a.m. EDT in Boston, Massachusetts. Members of Mercury's management team will present on the future of its business, and the value of the Converged Sensor Network(TM) Architecture in enabling data fusion and dissemination to the tactical edge in ISR applications. The keynote speaker, J. Michael Johnson, RADM USN (Retired) and former President and CEO of Recon/Optical, will discuss imagery intelligence and the need for a networked approach to exploiting imagery in today's battlefield theater.
The event will be webcast live via the Company's website beginning at 9:00 a.m. EDT. To listen to a real-time broadcast of the meeting, visit http://www.mc.com/investor and click on the live audio webcast link for the conference. A replay of the meeting will be available on the website for an extended period of time.
Mercury Computer Systems, Inc. - Where Challenges Drive Innovation(TM)
Mercury Computer Systems (http://www.mc.com/, NASDAQ: MRCY) provides embedded computing systems and software that combine image, signal, and sensor processing with information management for data-intensive applications. With deep expertise in optimizing algorithms and software and in leveraging industry-standard technologies, we work closely with customers to architect comprehensive, purpose-built solutions that capture, process, and present data for defense electronics, homeland security, and other computationally challenging commercial markets. Our dedication to performance excellence and collaborative innovation continues a 25-year history in enabling customers to gain the competitive advantage they need to stay at the forefront of the markets they serve.
Mercury is based in Chelmsford, Massachusetts, and serves customers worldwide through a broad network of direct sales offices, subsidiaries, and distributors.
Contact:
Bob Hult, Senior Vice President and CFO
978-967-1990
Challenges Drive Innovation and Converged Sensor Network are trademarks of Mercury Computer Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.
Photo: http://www.newscom.com/cgi-bin/prnh/20030930/MERCURYCSLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Mercury Computer Systems, Inc.
CONTACT: Bob Hult, Senior Vice President and CFO of Mercury Computer Systems, Inc., +1-978-967-1990
Web site: http://www.mc.com/
Watson Wyatt Launches Integrated Reward and Talent Management Software Suite
WASHINGTON, Oct. 16 /PRNewswire-FirstCall/ -- Watson Wyatt, a leading global consulting firm, today announced the launch of its integrated reward and talent management software suite.
Watson Wyatt's system fully integrates its industry-leading REWARD suite of compensation tools with strategic workforce planning, recruiting, learning, career development, succession planning, performance management and global pay data. This product brings together over a decade of experience delivering compensation and talent management tools and leverages proven technology used by more than 300 clients.
The system is built on a .NET platform that allows optimal flexibility and easy updates and is deployed as software-as-a-service (SaaS). Watson Wyatt's system supports the needs of global clients that require multiple languages, cultures and currencies.
"The new suite allows employees to manage all aspects of their careers, while allowing employers to align their talent strategies and processes with their business objectives," said Brian Wilkerson, global director of talent management at Watson Wyatt. "More important, our clients will benefit from the combination of world-class consulting, technology and research in the area of rewards and talent management."
For more information, visit http://www.watsonwyatt.com/talent.
About Watson Wyatt
Watson Wyatt is the trusted business partner to the world's leading organizations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 7,200 associates in 32 countries and is located on the Web at http://www.watsonwyatt.com/.
Watson Wyatt
CONTACT: Steve Arnoff of Watson Wyatt, +1-703-258-7634, steven.arnoff@watsonwyatt.com; or Ed Emerman for Watson Wyatt, +1-609-275-5162, eemerman@eaglepr.com
Web Site: http://www.watsonwyatt.com/ http://www.watsonwyatt.com/talent
TechWeb's Internet Evolution Uncovers Worst Web 2.0 InvestmentsTargeted advertising, social networking, video, search, and self-publishing/social publishing are the biggest money pits as investors and VCs chase the Next Big Thing(s)
NEW YORK, Oct. 16 /PRNewswire/ -- Whether they're being groomed for acquisition or poised for long-term profit as standalone entities, Web 2.0 startups continue gorging on investors' millions, according to a new report today from Internet Evolution. Despite the confusion of the current economic climate, "Web 2.0's Biggest $inkholes" (http://www.internetevolution.com/document.asp?doc_id=165412) highlights key areas where VCs and angel investors think big Web 2.0 payoffs await:
-- Targeted advertising: JellyCloud couldn't hack it and $11.5 million
later went belly up; Lotame is staying afloat with its $28 million
purse.
-- Social networking: All-purpose inbox company Xoopit is working on a $6
million round, while Orgoo is on indefinite hiatus; AOL's $850 million
for Bebo ended up being largely a write-off for the company.
-- Video: Lots of money's chasing the desire to be the next YouTube --
too bad most of the hosted content is porn; Trooker and others are
betting there's a market for video search.
-- Search: Cuil ($33 million) and SearchMe ($43.6 million) might imagine
themselves Google killers, or at least viable alternatives. For
investors, imagination makes for a crummy investment strategy.
-- Self-publishing/social-publishing: Uber.com and Bricabox litter this
landscape, having shuttered themselves as things got rocky. It's
unclear whether ShareNow.com can thrive here.
"These startups are gambling that they'll be acquired by the dominant players in each of these Web 2.0 sectors - Google, Facebook, YouTube, MSN, and Yahoo," says Terry Sweeney, Editor in Chief of Internet Evolution. "As if today's market wasn't enough of a hindrance, many of these startups also suffer from fuzzy business plans, poor execution, and even crummy company names. Incredibly, that's not stopping the flow of investment in some below-average companies."
About Internet Evolution
Internet Evolution hosts more than 100 world-famous Internet experts - such as Kevin Mitnick, once the most-wanted computer hacker in the world; Dr. Lawrence Roberts, inventor of packet switching, and one of the world's foremost authorities on telecom network architectures; Vint Cerf, Vice President and Chief Internet Evangelist for Google; Craig Newmark, the founder of Craigslist.com; Paul Mockapetris, inventor of the Domain Name System (DNS); Howard Schmidt, former White House cybersecurity adviser; and Andrew Keen, author of Cult of the Amateur: How the Internet is killing our culture -- all of whom are addressing today's critical socio-economic issues within its ThinkerNet blogosphere. Internet Evolution also offers broadcast-quality broadband video documentaries and interviews; investigative reports; and user-generated content facilitated via the latest Web 2.0 technology.
About TechWeb
TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.
*13.3 million business decision-makers: based on number of monthly connections
About United Business Media Limited (http://www.unitedbusinessmedia.com/)
United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.
Contact
Amy Averbook
TechWeb's Internet Evolution
(212) 925-0020 x112
Internet Evolution
CONTACT: Amy Averbook, TechWeb's Internet Evolution, +1-212-925-0020, ext. 112, averbook@lightreading.com
Web Site: http://techweb.com/aboutus http://www.internetevolution.com/document.asp?doc_id=165412 http://www.unitedbusinessmedia.com/
Performance Technologies Schedules Third Quarter 2008 Earnings Release and Conference Call
ROCHESTER, N.Y., Oct. 16 /PRNewswire-FirstCall/ -- Performance Technologies , a leading developer of communication platforms and systems, will announce its financial results for the third quarter 2008 after the market closes on Thursday, October 23, 2008.
A conference call will be held on Friday, October 24 at 10:00 a.m., New York time, to discuss the results. All institutional investors can participate in the conference by dialing (866) 250-5144 or (416) 849-6163. The call will be available simultaneously for all other investors at (866) 494-3387 or (416) 915-1198. A digital recording of this conference call may be accessed immediately after its completion from October 24 through October 28, 2008. To access the recording, participants should dial (866) 245-6755 or (416) 915-1035 using passcode 698064. A live webcast of the conference call will be available on the Performance Technologies website at http://www.pt.com/ and will be archived to the site within two hours after the completion of the call.
About Performance Technologies (http://www.pt.com/)
Performance Technologies is a global supplier of integrated IP-based platforms and solutions for advanced communications networks and innovative computer system architectures. Our Embedded Systems Group offers robust application-ready platforms that incorporate open standards-based software and hardware, providing significantly accelerated end product deployment benefits for equipment manufacturers. Our Signaling Systems Group offers the SEGway(TM) product suite, which includes IP STPs, SS7 over IP transport solutions, and signaling gateways that enable lower operating costs through utilization of IP networks, thereby creating competitive advantages for carriers in existing and emerging markets.
Performance Technologies is headquartered in Rochester, New York. Additional engineering facilities are located in San Diego and San Luis Obispo, California, and Kanata, Ontario, Canada.
Performance Technologies
CONTACT: Dorrance W. Lamb, +1-585-256-0200 ext. 7276, finance@pt.com, SVP and Chief Financial Officer, Performance Technologies
Web Site: http://www.pt.com/
Verizon Launches New Wave of Interactive Features for FiOS TV Customers in Rhode IslandCompany's Advanced Fiber-Optic Network Delivers Customer Experiences That Cable Can't Match
PROVIDENCE, R.I., Oct. 16 /PRNewswire/ -- Verizon FiOS TV - the ultimate home-entertainment experience - becomes even more dynamic for customers in Rhode Island as Verizon introduces new interactive features for the TV service, delivered over the nation's most advanced fiber-optic network straight to customers' homes.
FiOS TV's innovative Interactive Media Guide (IMG), which already provides an unprecedented, next-generation video service, now also gives customers unique new features, including free casual games, purchasing power via remote control, more widgets that provide on-demand access to information and entertainment, and other exciting options.
"FiOS TV gives customers an experience they can't get from cable," said Bob Driscoll, Verizon regional vice president of sales. "The immense two-way capacity of our fiber network allows us to continually introduce interactive capabilities that give our customers richer, more robust and personalized entertainment."
Among the new FiOS TV IMG features now available in Rhode Island are:
-- Streaming of Recorded HD Video -- Verizon's Home Media DVR now allows
customers to stream recorded high-definition (HD) programs to six
other TV sets throughout the home equipped with HD set-top boxes. The
feature, which has been available for standard-definition programming,
includes the ability to watch three separately recorded shows on three
sets at the same time, plus pause recorded programming in one room and
continue watching in another.
-- New channel sorting options -- Verizon FiOS TV customers now can
create two separate lists of favorite channels for family members.
Customers also can now filter channels in the guide by genre for
instances where a customer may only want to see HD content,
international channels or kids programming, among others.
-- "Wait for Me" -- Customers can pause live programming, change
channels, and then return to the paused program and pick up where they
left off. No part of a program will be missed with this new feature.
-- New free widgets -- FiOS TV widgets offer customers one-touch,
on-demand access to local weather and traffic reports shown on TV
screens. Now customers have more widgets, including:
-- Daily national news and sports headlines.
-- Community news, based on the customer's zip code and featuring
information submitted by local municipalities.
-- Daily horoscopes.
-- What's Hot on FiOS TV, featuring information on the most popular
programs currently being broadcast in a customer's region and
the most popular video-on-demand (VOD) titles currently
available.
-- Instant Upgrades -- Customers can watch VOD offerings from HBO,
Cinemax and more by subscribing to these premium channel packages
straight from the VOD menu, with a touch of their remote control.
Customers who subscribe to a DVR can instantly upgrade to Verizon's
Home Media DVR, bundled with the free Media Manager service, without
calling Verizon to sign up.
-- Free casual games -- With the remote control, a customer can access
chess, solitaire, wordplay and Sudoku from the FiOS TV Main Menu and
play any one of them, at any time. The chess, solitaire and wordplay
features are initially available to customers who use Verizon's HD
set-top boxes.
-- VOD Performance Enhancement -- Faster response times will enable
customers to search and select VOD titles more quickly than ever
before.
Verizon will also launch several other new IMG features before year-end, including:
-- Fantasy Football -- FiOS TV customers who are registered users of ESPN
Fantasy Football will have instant on-screen access to personalized
NFL statistics, including rosters, box scores, scoring leaders and
player information. FiOS TV customers will be able to access ESPN
Fantasy Sports through FiOS TV widgets or games.
-- "My Videos" -- Customers will be able to access personal videos stored
on their home computers and enjoy them on their TV sets. This feature
is accessed through Verizon's Media Manager service, which already
allows customers to stream personal music and photographs from their
PCs to their TVs.
-- Remote DVR Programming -- Customers who subscribe to FiOS TV's Media
Manager service will be able to remotely program their FiOS TV DVRs
and set their Parental Controls through select Verizon Wireless
handsets and through Verizon's FiOS TV Central Web site
(http://www.verizon.com/fiostvcentral). This site already provides TV
listings and VOD title search capabilities, as well as more
information on all of the IMG features.
FiOS TV is delivered over the nation's most advanced fiber-optic network straight to customers' homes and businesses, providing stunning picture-and-sound quality, more and more HD and VOD choices, a broad spectrum of content diversity, and interactive features that create the ultimate home-entertainment experience.
The service offers a broad collection of programming, with more than 400 all-digital channels and 11,000 VOD titles each month, 70 percent of which are free. The VOD library also includes more than 700 HD titles, and Verizon plans to offer 1,000 HD VOD titles each month by year-end. FiOS TV is currently available to more than 7 million homes in 14 states.
New consumers who sign up for FiOS TV by Oct. 31 are eligible for a year's free use of either an HD DVR or an HD Home Media DVR. Verizon is also offering new FiOS TV customers, or existing customers who upgrade to a bundled package, one free month of HBO and Cinemax, which includes more than 25 premium channels and access to hundreds of additional titles on VOD.
For more information on FiOS TV, consumers can visit http://www.verizon.com/fiostv or call their local Verizon sales office or 888-438-3467.
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: Lillian McGee, +1-401-525-2134, lillian.m.mcgee@verizon.com
Web Site: http://www.verizon.com/ http://www.verizon.com/fiostv http://www.verizon.com/fiostvcentral http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Paradigm Updates on Outstanding Shares and Announces a Stock Buyback Program
GEORGETOWN, Mass., Oct. 16 /PRNewswire-FirstCall/ -- Paradigm Tactical Products Inc. (Pink Sheets: PDGT), a leading provider of detection technology and homeland security solutions to the military as well as to the corrections, law enforcement and security industry updates shareholders on the company's current outstanding share count and announces a stock buy back program.
Paradigm would like to report to its shareholders that there are currently 839,680,555 outstanding shares, unchanged from our last report. The company has made significant progress over the course of the last year, and has reached certain milestones that have prepared it for strong growth in early 2009. For many months management has recognized that the company has been extremely undervalued. Vincent Cammarata stated that at the time, we were primarily focused on getting our new products developed and manufacturing underway. At the same time we have always believed that a share buyback program would not only benefit the company, but also its shareholders.
In September we voted to go forward with the intended share buyback program and buy up to 200 million shares of the company's stock commencing in January 2009, for a period of 4 months thereafter. It is our intent to purchase the stock in the open market by using a portion of our profits from the sales of our new products, the RadSafe, StealthSensor and others that are scheduled to be added to our line in the near future. We believe that the share buyback program is a positive move for everyone.
We are very confident that with the strong demand for our products, along with our future anticipated sales, next year should be a great year for the company and our shareholders.
About Paradigm Tactical Products
Paradigm Tactical, based in Georgetown, Massachusetts, is a leading provider of detection technology and homeland security solutions to the military as well as corrections, law enforcement and security industry. The Company owns rights to license, manufacture, market, and sell all of its devices. As the heightened attentiveness to terrorist and other security threats continue to increase, Paradigm Tactical is meeting the higher demand for security and inspection systems. The Company has sold products to numerous Federal, State, and local institutions.
For more information go to: http://www.paradigmglobalproducts.com/ or http://www.goldenboards.com/
Safe Harbor Statement from Paradigm Tactical Products, Inc.: Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, and network or service offering growth, together with other statements that are not historical facts, are 'forward-looking statements' as that term is defined under the Federal Securities Laws. Any forward-looking statements are estimates, reflecting the best judgment of the party making such statements based upon currently available information and involve a number of risks and uncertainties, including the timing of any expansion of the Company's database, and other factors which could cause actual results to differ materially from those stated in such statements. Risks, uncertainties and factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of the Company should be considered in light of those factors.
CONTACT: Paradigm Tactical Products
Vincent Cammarata, President and CEO
IR@paradigmglobalproducts.com
Phone 978-702-9106
Paradigm Tactical Products Inc.
CONTACT: Vincent Cammarata, President and CEO of Paradigm Tactical Products, +1-978-702-9106, IR@paradigmglobalproducts.com
Web Site: http://www.goldenboards.com/ http://www.paradigmglobalproducts.com/
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