Companies news of 2008-11-10 (page 1)
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Space and Naval Warfare Systems Center -- Pacific Awards Contract to SAICCompany to Assess and Evaluate Technologies Used for Navy Shipboard Command and Control Systems
SAN DIEGO and MCLEAN, Va., Nov. 10 /PRNewswire-FirstCall/ -- Science Applications International Corporation today announced it won a contract from the Space and Naval Warfare Systems Center (SSC) - Pacific to evaluate emerging technologies for shipboard navigation, sensors and systems. This single-award, indefinite-delivery/indefinite quantity contract has a three year base period of performance valued at $33 million, two one year options, six six-month award terms, and a total potential value of more than $94 million if all options are exercised. Work will be performed primarily in San Diego.
Since 1997, SAIC has provided engineering and management services to SSC Pacific for navigation, Global Positioning System (GPS), command and control, and navigation warfare systems development. Under this follow-on contract, SAIC will research, test and evaluate new technologies for shipboard command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems. The services SAIC delivers will help SSC Pacific identify emerging technologies and enhance current Navy position, navigation and timing (PNT) systems used by the warfighter in mission execution and force protection.
"SSC Pacific has a critical mission and technology evaluation plays a vital role fulfilling it," said Tony Moraco, SAIC senior vice president and business unit general manager. "Our team is proud to help SSC Pacific maintain Fleet preeminence in PNT and C4ISR systems."
About SAIC
SAIC is a FORTUNE 500(R) scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 44,000 employees serve customers in the Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. SAIC had annual revenues of $8.9 billion for its fiscal year ended January 31, 2008. For more information, visit http://www.saic.com/. SAIC: From Science to Solutions(R)
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward- looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2008, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Contact: Melissa Koskovich Laura Luke
(703) 676-6762 (703) 676-6533
melissa.l.koskovich@saic.com laura.luke@saic.com
SAIC
CONTACT: Melissa Koskovich, +1-703-676-6762, melissa.l.koskovich@saic.com, or Laura Luke, +1-703-676-6533, laura.luke@saic.com, both of SAIC
Web site: http://www.saic.com/
Ticketmaster Entertainment, Inc. Reports Third Quarter 2008 EarningsThird quarter revenues of $339.2 million, up 16% versus prior yearFree Cash Flow for the quarter of $54.2 million, up more than 50%Sponsorship and distribution partnerships signed with Research In Motion and Yahoo! and NFL Fan Ticket Exchange launched during the quarterAcquisition of controlling interest in Front Line Management closed October 29, 2008
WEST HOLLYWOOD, Calif., Nov. 10 /PRNewswire-FirstCall/ -- Ticketmaster Entertainment, Inc. (Ticketmaster) , the world's leading live entertainment ticketing and marketing company, today announced financial results for its third quarter ended September 30, 2008. Revenues were $339.2 million, 16% higher than prior year because of strategic acquisitions and an increase in revenue per ticket. EBITDA was $57.3 million, 16% lower than prior year, due to royalty expense, severance charges, and public company costs in the quarter. These results do not include Front Line Management Group, Inc., except as recorded with respect to a minority stake held prior to its recent acquisition of the controlling interest.
"While we are pleased to report solid revenue growth for the quarter and year to date, the global macro-economic environment is certainly challenging and its impact on live entertainment in the near-term difficult to predict," said Sean Moriarty, chief executive officer of Ticketmaster and president of Ticketmaster Entertainment. "Uncertain economic conditions have further reinforced our focus on driving improved efficiencies and profitability through our platforms and businesses around the world, and we have made substantial progress in realizing reduced operating costs going into the final quarter of 2008. At the same time, we continue to make great strides in our competitive positioning: we've extended our consumer reach through online distribution partnerships with companies, such as Yahoo! and Eventful; we are bringing our events to the mobile consumer through our partnership with RIM; and our technology team continues to deliver great new solutions such as Paperless Ticket(TM) to our fans and clients. We expect our recent acquisition of Front Line Management Group to accelerate the development of the artist to fan experience that Ticketmaster Entertainment is uniquely positioned to deliver."
Financial and Operating Metrics Summary
(In millions, except
per share data) Three months Three months
ended 9/30/08 ended 9/30/07 % Change
Revenue $ 339.2 $ 292.5 16%
Gross Profit $ 122.5 $ 111.3 10%
EBITDA $57.3 $68.1 (16)%
Operating Income $26.9 $48.0 (44)%
Net Income $9.6 $40.5 (76)%
Diluted EPS $0.17 $0.72 (76)%
Net Cash Provided by
Operating Activities $70.8 $70.7 0%
Free Cash Flow $54.2 $35.1 54%
Operating Metrics (1)
Number of tickets sold 33.7 34.2 -1%
Gross value of tickets sold $ 2,068 $ 1,915 8%
(1) The operating metrics for the number and gross value of tickets sold
are inclusive of primary and resale tickets.
Please see reconciliations of EBITDA to Net Income and Free Cash Flow to Cash Provided by Operating Activities, and the definitions of EBITDA and Free Cash Flow, at the end of this release.
Quarterly Business Highlights
Ticketmaster experienced a number of business developments over the reporting period, including the successful ticketing for the Beijing Games, the announcement of a strategic partnership with Research In Motion, the launch of the NFL Fan Ticket Exchange service, and the implementation of Paperless Ticket(TM) for AC/DC's latest tour.
Ticketing activity for the Beijing Games surpassed that of all other events in the 30 year history of Ticketmaster, including breaking the record for tickets sold in one day (+520,000) and for visitors to the ticketmaster.com system in an hour (27 million). Furthermore, our Olympic presence allowed us to establish our unique technological capabilities and grow our presence in the Chinese live event market.
And, in another example of Ticketmaster's technological innovation, Paperless Ticket(TM) was deployed during AC/DC's "Black Ice World Tour," allowing fan club members and fans access to great seats with only a credit card swipe and photo ID. Metallica used Paperless Ticket for the band's "Death Magnetic" release party at London's iconic O2 that produced no waiting in will call lines and quick, secure access to the venue for all fans.
Our partnership with Research In Motion, which was announced in the third quarter brings mobile ticketing to the millions of BlackBerry(R) users. The exclusive sponsorship agreement provides new mobile access that supports live entertainment event search and anytime, anywhere ticket purchasing.
We made further progress in providing fan-friendly access to tickets in resale as Ticketmaster's new NFL Fan Ticket Exchange service kicked-off on NFL.com during the quarter. As the "Official Ticket Exchange Provider of the NFL," Ticketmaster's secure and convenient resale platform was expanded beyond existing deals with the NBA and NHL to allow NFL fans to exchange tickets to all regular season games, playoffs, and the Super Bowl.
Quarterly Results
Revenue
The company posted third quarter revenue of $339.2 million, up 16% from the same period last year. Revenue growth in the quarter was primarily driven by the acquisitions of TicketsNow, Paciolan and SLO, Ltd. (acquired in February, January and March 2008, respectively) and 2% higher average overall revenue per primary ticket. These increases were partially offset by a 3% decline in the number of primary tickets sold worldwide. Acquisitions contributed $43 million to overall revenue growth in the quarter.
Domestic revenue was up 19%, driven by the acquisitions mentioned above. Excluding acquisitions, domestic revenue declined approximately 2%, or $4 million, primarily due to a 5% decrease in the number of tickets sold. Beginning in late August, ticket sales volume declined across most domestic live entertainment genres, primarily in sports and music. Concert tickets were down 7%, with the exception of the hard rock and metal category due to the popularity of the AC/DC and Metallica tours. Sports tickets were down 8%, led by softness in Major League Baseball and pre-season ticket sales for the NFL. Although top theatre acts, such as Wicked, showed strong year-over-year gains, overall ticket sales in the arts category showed a slight decline; and family shows finished the quarter with moderate growth.
International revenue grew 10%, or 7% excluding the effects of foreign exchange, primarily due to a 9% increase average in revenue per ticket with most of the revenue increase in Canada, Spain, and China (where we acquired Emma Entertainment in August 2007). The top selling international events/acts were the Australian Football League, Neil Young's Uberholspur tour, and the Scottish music festival T in the Park which combined sold nearly 420 thousand tickets.
Profitability
The decrease in consolidated EBITDA to $57.3 million reflects an $11 million, or 16%, EBITDA decline in primary ticketing operations. This decrease in primary ticketing profits reflects higher costs associated with royalties, administrative and technology expense, and the net unfavorable impact of ticket volume and pricing, as discussed above. Royalty costs were the primary driver of the EBITDA decline due to a 1.4 point increase in overall rates and the benefit of an accrual reversal in the prior year period. Administrative costs were higher in part due to approximately $4.0 million in severance charges described below and public company costs.
While the combined resale business provided $30 million of revenue growth, the profits generated from TicketsNow were offset by higher costs of approximately $7 million associated with resale sponsorships and music service partners, including the NFL, US Open and NHL.
Commencing the third quarter, Ticketmaster began a series of actions expected to reduce 2009 annual operating expenses by approximately $35 million in the following areas: (i) approximately 35% from reductions in personnel, (ii) approximately 25% from cost reductions and efficiencies at customer contact centers, and iii) the balance from reductions in other operating costs, including payment processing, marketing, sponsorship and other discretionary costs. During the quarter, severance costs associated with personnel reductions amounted to nearly $2.5 million, reflecting the first of our expected personnel reductions. The company expects to incur additional severance costs ranging from $3 million to $4 million in the fourth quarter of 2008 as further reductions in personnel take place.
Operating Income and Net Income
Operating income for the current period reflected a 39% increase in depreciation due to the TicketsNow and Paciolan acquisitions and a new data center in China; a 36% increase in amortization of intangibles primarily due to the TicketsNow and Paciolan acquisitions; and a 98% increase in non-cash compensation due to the accelerated vesting of certain awards to employees at the time of the spin-off from IAC. Excluding the impact of acquisitions and spin-related costs, operating income would have declined by 26%.
Net income was $9.6 million, or $0.17 per diluted share, each lower by 76%, respectively, compared to the 2007 period. The decrease in net income reflects lower interest income and higher interest expense from our debt issued in connection with the spin-off from IAC, as well as a higher effective tax rate.
The tax provision for the third quarter was impacted by two non-recurring factors that increased the quarterly effective tax rate by approximately 20%, adjustments for prior years related to the filing of tax returns and additional expense recorded for the first and second quarter income related to the increase in the estimated 2008 annual tax rate. The expected annual tax rate increased in Q3 from Q2 due to factors related to the Company's issuance of debt, including the inability to use foreign tax credits, and an increase in losses not benefited for tax in our emerging businesses. We are currently working on several initiatives that once implemented would have a favorable effect on the Company's long-term effective tax rate. Excluding the impact of acquisitions, spin-related costs, and non-recurring tax items, net income would have declined by 14%.
Balance Sheet and Free Cash Flow
The September 30, 2008 balance sheet reflects $547 million of cash and cash equivalents, including $356 million in funds collected on behalf of our clients. As of September 30, 2008, total long term debt was $765 million, consisting of $300 million of Senior Notes due in 2016, a $100 million Term Loan A with a maturity in 2013 and a $350 million Term Loan B in 2014. Ticketmaster also maintains a $200 million unsecured revolving credit facility with a maturity in 2013, of which $15 million was drawn down as of September 30, 2008 in connection with the spin-off from IAC. The proceeds of the Term Loans and the Senior Notes were used to fund a distribution to IAC prior to the spin-off and to fund transaction fees and expenses associated with the debt issuances.
On October 27, 2008, the company borrowed an additional $100 million under the revolving credit facility to fund a portion of the acquisition costs of a controlling interest in Front Line Management Group. As of September 30, 2008, and after the closing of the Front Line interest, we were in compliance with the financial covenants under our debt facilities.
Free Cash Flow was $54.2 million in the quarter, 54% higher than the same period last year due to favorable changes in working capital, partially offset by the decline in operating results and higher capital expenditures in the quarter. Favorable changes in working capital were primarily related to timing of advance payments under ticketing contracts, accounts payable and accounts receivable, offset in part by increased sponsorship payments to our resale partners. Capital expenditures were higher due to efforts to enhance our client reporting systems, improve our communication infrastructure and the acquisitions of Paciolan and TicketsNow.
Ticketmaster's management will host a conference call today at 1:30 PT (4:30 ET) to discuss the company's financial results. A live webcast of the call will be accessible on the Investor Relations section of Ticketmaster's website at http://investors.ticketmaster.com/.
About Ticketmaster Entertainment, Inc.
Ticketmaster Entertainment consists of Ticketmaster and Front Line Management Group. As the world's leading live entertainment ticketing and marketing company, Ticketmaster connects the world to live entertainment. Ticketmaster operates in 20 global markets, providing ticket sales, ticket resale services, marketing and distribution through http://www.ticketmaster.com/, one of the largest e-commerce sites on the Internet; approximately 6,700 retail outlets; and 19 worldwide call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across multiple event categories, providing exclusive ticketing services for leading arenas, stadiums, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. In 2007, the company sold more than 141 million tickets valued at over $8.3 billion on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line Management Group in October 2008. Front Line represents a wide range of major artists, including the Eagles, Jimmy Buffett, Neil Diamond, Van Halen, Fleetwood Mac, Christina Aguilera, Stevie Nicks, Aerosmith, Steely Dan, Chicago, Journey, and Guns N' Roses. Ticketmaster Entertainment, Inc. is headquartered in West Hollywood, California .
This news release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements relating to the Company's anticipated financial performance, business prospects, new developments and similar matters, and/or statements that use words such as "anticipates," "estimates," "expects," "intends," "plans," "believes" and similar expressions. As such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that may cause actual performance or results to differ materially from those in the forward- looking statements, including those risks and uncertainties related to the Company's ability to operate effectively as a public company following its recent spin-off from IAC; changes in economic conditions generally or in the live entertainment industry; the ability of the Company to retain existing clients and obtain new clients; Ticketmaster's ability to maintain Ticketmaster's brand recognition and attract and retain customers in a cost- effective manner; integration of historical and future acquisitions, including the Front Line acquisition; the Company's ability to expand successfully in international markets; changing customer requirements and industry standards; regulatory changes; and the other risks detailed from time to time in the Company's SEC reports, including the most recent reports on Forms 10-Q and 8- K, each as it may be amended from time to time. The Company assumes no obligation to update these forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
TICKETMASTER ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
(In thousands except per share data)
Service revenue $336,350 $287,921 $1,060,112 $876,678
Interest on funds
held for clients 2,851 4,545 10,439 12,781
Total revenue 339,201 292,466 1,070,551 889,459
Cost of sales
(exclusive of
depreciation shown
separately below) 216,693 181,186 686,264 549,830
Gross profit 122,508 111,280 384,287 339,629
Selling and
marketing expense 26,535 8,560 70,564 23,791
General and
administrative expense 47,633 39,108 135,130 113,258
Amortization of
intangibles 8,268 6,081 28,671 19,601
Depreciation 13,217 9,495 36,100 28,087
Operating income 26,855 48,036 113,822 154,892
Other income (expense):
Interest income 4,685 8,533 7,707 22,410
Interest expense (10,909) (242) (16,814) (641)
Equity in income of
unconsolidated
affiliates 2,850 1,196 2,048 3,021
Other (expense)
income (413) 230 244 105
Total other (expense)
income, net (3,787) 9,717 (6,815) 24,895
Earnings before income
taxes and minority
interest 23,068 57,753 107,007 179,787
Income tax provision (13,335) (18,671) (43,010) (63,181)
Minority interest in
(income) losses of
consolidated
subsidiaries (118) 1,459 1,337 1,664
Net income $9,615 $40,541 $65,334 $118,270
Net earnings per
share available to
common stockholders:
Basic $0.17 $0.72 $1.16 $2.11
Diluted $0.17 $0.72 $1.16 $2.11
Weighted average
number of common
and common equivalent
stock outstanding:
Basic 56,183 56,171 56,175 56,171
Diluted 56,382 56,171 56,241 56,171
TICKETMASTER ENTERTAINMENT, INC.
CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2008 2007
(unaudited) (audited)
(In thousands except
per share data)
ASSETS
Cash and cash equivalents $547,006 $568,417
Restricted cash - 853
Marketable securities 3,778 -
Accounts receivable, client accounts 87,600 99,453
Accounts receivable, trade, net of
allowance of $8,190 and $2,346, respectively 41,688 33,979
Deferred income taxes 7,222 5,883
Contract advances 53,268 63,126
Prepaid expenses and other current assets 46,508 21,149
Total current assets 787,070 792,860
Property and equipment, net 111,708 95,122
Goodwill 1,375,091 1,090,418
Intangible assets, net 215,656 92,325
Long-term investments 131,340 149,295
Other non-current assets 110,348 86,514
TOTAL ASSETS $2,731,213 $2,306,534
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES:
Accounts payable, client accounts $444,061 $413,075
Accounts payable, trade 22,697 14,698
Accrued compensation and benefits 31,383 31,171
Deferred revenue 27,521 19,829
Income taxes payable 2,067 1,721
Other accrued expenses and current liabilities 62,672 42,449
Total current liabilities 590,401 522,943
Long-term debt 765,000 -
Income taxes payable 1,821 982
Other long-term liabilities 6,982 3,204
Deferred income taxes 84,729 32,416
Minority interest 6,097 7,812
Commitments and contingencies
STOCKHOLDERS' EQUITY:
Preferred stock, $.01 par value, 25,000
authorized;
No shares issued or outstanding - -
Common stock, $0.01 par value, 300,000
authorized at September 30, 2008; 56,210
issued and outstanding 562 -
Invested capital - 2,172,497
Additional paid-in capital 1,229,190 -
Receivables from IAC and subsidiaries - (474,110)
Retained earnings 12,075 -
Accumulated other comprehensive income 34,356 40,790
Total stockholders' equity 1,276,183 1,739,177
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $2,731,213 $2,306,534
TICKETMASTER ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Nine Months Ended
September 30,
2008 2007
(In thousands)
Cash flows from operating activities:
Net income $65,334 $118,270
Adjustments to reconcile net income to net
cash provided by operating activities:
Amortization of intangibles 28,671 19,601
Depreciation 36,100 28,087
Amortization of deferred financing costs 570 -
Provision for doubtful accounts 4,729 151
Non-cash compensation expense 20,343 9,465
Deferred income taxes 4,950 (7,957)
Equity in income of unconsolidated
affiliates, net of dividends 1,441 4,315
Minority interest in losses of
consolidated subsidiaries (1,337) (1,664)
Changes in operating assets and liabilities:
Accounts receivable (4,049) (7,155)
Prepaid expenses and other assets (11,644) (16,373)
Accounts payable and other liabilities (6,742) (5,772)
Income taxes payable 13,494 (2,245)
Deferred revenue 3,235 435
Funds collected on behalf of clients, net 45,269 57,170
Other, net 427 465
Net cash provided by operating activities 200,791 196,793
Cash flows from investing activities:
Transfers (to) from IAC (910,088) 53,355
Acquisitions, net of cash acquired (405,498) (29,306)
Capital expenditures (37,014) (32,188)
Purchase of marketable securities (4,176) -
Increase in long-term investments (356) (433)
Net cash used in investing activities (1,357,132) (8,572)
Cash flows from financing activities:
Capital contributions from IAC 405,498 29,306
Proceeds from the issuance of
long-term debt 300,000 -
Proceeds from bank borrowings 465,000 -
Principal payments on long-term
obligations (1,500) (1,614)
Payment of deferred financing costs (27,207) -
Purchase of minority interest (764) -
Excess tax benefits from stock-based awards 55 2,788
Net cash provided by financing activities 1,141,082 30,480
Effect of exchange rate changes on cash
and cash equivalents (6,152) 23,676
Net (decrease) increase in cash and cash
equivalents (21,411) 242,377
Cash and cash equivalents at beginning
of period 568,417 317,577
Cash and cash equivalents at end of period $547,006 $559,954
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
RECONCILIATION OF EBITDA TO NET INCOME
Ticketmaster's primary metric is Earnings before Interest, Income Taxes, Depreciation and Amortization ("EBITDA"), which is defined as operating income excluding, if applicable: (1) depreciation expense (2) non-cash compensation expense, (3) amortization and impairment of intangibles, (4) goodwill impairment, (5) pro forma adjustments for significant acquisitions, and (6) one-time items. Ticketmaster believes this measure is useful to investors because it represents its consolidated operating results excluding the effects of any other non-cash expenses. EBITDA has certain limitations in that it does not take into account the impact to Ticketmaster's statement of operations of certain expenses, including non-cash compensation and acquisition-related accounting.
The following table reconciles EBITDA to operating income and net income (in
thousands):
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
EBITDA $57,290 $68,135 $198,936 $212,045
Non-cash compensation
expense (8,950) (4,523) (20,343) (9,465)
Amortization of
intangibles (8,268) (6,081) (28,671) (19,601)
Depreciation expense (13,217) (9,495) (36,100) (28,087)
Operating income 26,855 48,036 113,822 154,892
Interest income 4,685 8,533 7,707 22,410
Interest expense (10,909) (242) (16,814) (641)
Equity in income of
unconsolidated
affiliates 2,850 1,196 2,048 3,021
Other (expense) income (413) 230 244 105
Total other (expense)
income, net (3,787) 9,717 (6,815) 24,895
Earnings before income
taxes and minority
interest 23,068 57,753 107,007 179,787
Income tax provision (13,335) (18,671) (43,010) (63,181)
Minority interest in
(income) losses of
consolidated
subsidiaries (118) 1,459 1,337 1,664
Net income $9,615 $40,541 $65,334 $118,270
Non-cash compensation expense in the table above is included in the following line items in the accompanying consolidated statements of operations for the three and nine months ended September 30, 2008 and 2007 (in thousands):
Three Months Ended Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
Non-cash compensation
expense included in:
Cost of sales $548 $211 $1,086 $601
Selling and marketing
expense 595 230 1,183 658
General and
administrative expense 7,807 4,082 18,074 8,206
Non-cash compensation
expense $8,950 $4,523 $20,343 $9,465
RECONCILIATION OF FREE CASH FLOW TO NET CASH PROVIDED BY OPERATING ACTIVITIES
(in thousands)
Three Months Ended Nine Months Ended
September 30, September 30,
2008(1) 2007 2008 2007
Free Cash Flow $54,241 $35,077 $118,508 $107,435
Funds Collected on
behalf of clients, net 2,739 24,823 45,269 57,170
Capital Expenditures 13,774 10,827 37,014 32,188
Net Cash Provided
by Operating
Activities $70,754 $70,727 $200,791 $196,793
(1) During the three months ended September 30, 2008, the company
refined its estimate of income taxes due to IAC in connection with
pre spin-off taxable income. We have reduced Free Cash Flow and Net
Cash Provided by Operating Activities in the above table by $21.3
million to exclude the impact of this item.
TICKETMASTER ENTERTAINMENT'S PRINCIPLES OF FINANCIAL REPORTING
Ticketmaster Entertainment reports EBITDA as a supplemental measure to generally accepted accounting principles ("GAAP"). This measure is one of the primary metrics by which Ticketmaster evaluates the performance of its businesses, on which its internal budgets are based and by which management is compensated. Ticketmaster believes that investors should have access to the same set of tools that it uses in analyzing its results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. Ticketmaster provides and encourages investors to examine the reconciling adjustments between the GAAP and non-GAAP measure which are discussed below.
Definition of Ticketmaster Entertainment's Non-GAAP Measure
EBITDA is defined as operating income excluding, if applicable: (1) depreciation expense (2) non-cash compensation expense, (3) amortization and impairment of intangibles, (4) goodwill impairment, (5) pro forma adjustments for significant acquisitions, and (6) one-time items. Ticketmaster believes this measure is useful to investors because it represents the operating results of Ticketmaster's businesses excluding the effects of any other non- cash expenses. EBITDA has certain limitations in that it does not take into account the impact to Ticketmaster's statement of operations of certain expenses, including non-cash compensation, and acquisition-related accounting. Ticketmaster endeavors to compensate for the limitations of the non-GAAP measure presented by also providing the comparable GAAP measure with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measure.
Free Cash Flow is defined as net cash provided by operating activities less funds collected on behalf of clients, net, and less capital expenditures. We believe Free Cash Flow is useful to investors because it represents the cash that our operating businesses generate, before taking into account cash movements that are nonoperational. Free Cash Flow has certain limitations in that it does not represent the total increase or decrease in the cash balance for the period, nor does it represent the residual cash flow for discretionary expenditures. For example, it does not take into account stock repurchases. Therefore, we think it is important to evaluate Free Cash Flow along with our consolidated statement of cash flows.
Pro Forma Results
Ticketmaster will only present EBITDA on a pro forma basis if it views a particular transaction as significant in size or transformational in nature. For the periods presented in this report, there are no transactions that Ticketmaster has included on a pro forma basis.
One-Time Items
EBITDA is presented before one-time items, if applicable. These items are truly one-time in nature and non-recurring, infrequent or unusual, and have not occurred in the past two years or are not expected to recur in the next two years, in accordance with SEC rules. For the periods presented in this report, there are no one-time items.
Non-Cash Expenses That Are Excluded From Ticketmaster's Non-GAAP Measure
Non-cash compensation expense consists principally of expense associated with the grants, including unvested grants assumed in acquisitions, of restricted stock, restricted stock units and stock options. These expenses are not paid in cash, and Ticketmaster will include the related shares in its future calculations of fully diluted shares outstanding. Upon vesting of restricted stock and restricted stock units and the exercise of certain stock options, the awards will be settled, at Ticketmaster's discretion, on a net basis, with Ticketmaster remitting the required tax withholding amount from its current funds.
Amortization of intangibles is a non-cash expense relating primarily to acquisitions. At the time of an acquisition, the intangible assets of the acquired company, such as purchase and distribution agreements, are valued and amortized over their estimated lives. While it is likely that Ticketmaster will have significant intangible amortization expense as it continues to acquire companies, Ticketmaster believes that since intangibles represent costs incurred by the acquired company to build value prior to acquisition, they were part of transaction costs.
Ticketmaster Entertainment, Inc.
CONTACT: Media, Albert Lopez, +1-310-360-2602, Albert.Lopez@Ticketmaster.com, or Investor Relations, Christina Um, +1-310-360-2354, IR@Ticketmaster.com, both of Ticketmaster
Web site: http://www.ticketmaster.com/
ParkerVision Reports Third Quarter 2008 Results
JACKSONVILLE, Fla., Nov. 10 /PRNewswire-FirstCall/ -- ParkerVision, Inc. , a developer and marketer of semiconductor technology solutions for wireless applications, announced a net loss for the third quarter of 2008 of $6.6 million, or $0.25 per share, compared to a net loss of $4.7 million or $0.19 per share during the third quarter of 2007.
For the nine month period ended September 30, 2008, ParkerVision reported a net loss of $17.3 million, or $0.66 per share, compared to a net loss of $13.5 million, or $0.55 per share for the same period in 2007.
The company currently has two licensees for its RF technology and is working with those customers to complete their initial product designs. To date, the company has not recognized any royalty revenue from these licensees.
The increase in the net loss from 2007 to 2008 is largely the result of increased product development costs as the company prepares to support the implementation of its technologies in high volume production. In addition, the company experienced a year to date increase in noncash stock-based compensation expense of approximately $1.3 million as a result of the issuance of restricted share units and other stock-based compensation to employees.
The Company's cash position at September 30, 2008 was $9.8 million. The Company has used approximately $13.9 million in cash during the first three quarters of 2008 for operations and investments in intellectual property.
Chairman and Chief Executive Officer, Jeffrey Parker commented, "We remain on track to deliver production-ready IC designs to our commercial chipset customer this quarter. We expect to continue to work closely with them as they implement our designs in high volume chipsets, the shipment of which will begin our royalty revenues from this customer. Based on the status of negotiations with prospective customers, we remain confident in our ability to secure an additional contract in the mobile handset space in the very near term."
The company will host a live broadcast of its third quarter 2008 financial results via conference call on November 10, 2008 at 4:30 PM Eastern time. The conference call will be accessible by telephone at 877-719-9786 (no passcode required) and participants are advised to dial-in at least five minutes before the scheduled start time. The replay of the conference call will be available for seven days by telephone at 888-203-1112 or 719-457-0820 using passcode 2701348 and accessible by webcast via the Internet at http://www.parkervision.com/ for a period of 90 days.
About ParkerVision
ParkerVision, Inc. designs, develops and sells its proprietary RF technologies which enable advanced wireless communications for current and next generation mobile communications networks.
Its solutions for wireless transfer of radio frequency (RF) waveforms enable significant advancements in wireless products, addressing the needs of the cellular industry for efficient use of power, reduced cost and size, greater design simplicity and enhanced performance in mobile handsets as the industry migrates to next generation networks.
ParkerVision is headquartered in Jacksonville, Florida. (PRKR-I)
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10K for the year ended December 31, 2007 and the Forms 10Q for the quarters ended March 31, 2008, June 30, 2008 and September 30, 2008. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Summary of Results of Operations (in thousands except for per
share amounts)
Unaudited
Three months ended Nine months ended
September 30, September 30,
2008 2007 2008 2007
Service revenue $- $194 $- $283
Cost of goods sold - 175 - 251
Gross margin - 19 - 32
Research and
development 4,215 2,783 10,931 8,073
Marketing and selling 696 630 2,031 1,978
General and
administrative 1,780 1,485 4,732 4,185
Total operating
expense 6,691 4,898 17,694 14,236
Interest and other income 78 223 348 664
Net loss $(6,613) $(4,656) $(17,346) $(13,540)
Basic and diluted loss
per common share $(0.25) $(0.19) $(0.66) $(0.55)
Balance Sheet Highlights (in thousands)
September 30,
2008 December 31,
(unaudited) 2007
Cash and cash equivalents $9,823 $13,401
Other current assets 840 1,029
Property and equipment, net 1,533 1,828
Other assets, net 10,970 10,319
Total assets $23,166 $26,577
Current liabilities $2,348 $1,818
Deferred rent 267 344
Shareholders' equity 20,551 24,415
Total liabilities and
shareholders' equity $23,166 $26,577
ParkerVision, Inc.
CONTACT: Paul Henning of Cameron Associates, +1-212-245-8800, paul@cameronassoc.com, for ParkerVision, Inc.; or Carolyn Wrenn of ParkerVision, Inc., +1-888-690-7110, cwrenn@parkervision.com
Web Site: http://www.parkervision.com/
Advanced Photonix, Inc. Reports Second Quarter Fiscal 2009 ResultsRecord Quarterly Revenues of $8.2 million, up 25%
ANN ARBOR, Mich., Nov. 10 /PRNewswire-FirstCall/ -- Advanced Photonix, Inc.(R) (the "Company") today reported its second quarter fiscal 2009 results ending September 26, 2008.
Financial Highlights for the Second Quarter Ended September 26, 2008
-- Net sales for the quarter were $8.2 million, an increase of $1.7 million, or 25%, compared to revenues for the quarter ended September 28, 2007. The increase was driven by military and Industrial/NDT markets. Net sales for the year to date were $16.0 million, an increase of $3.3 million, or 26%, compared to the prior year to date period. The increase was broad based across four of its five markets off-set by a reduction in medical revenues.
-- Gross profit margin for Q2 2009 was 44% of sales compared to 42% for the quarter ended September 28, 2007. This improvement in gross profit margin was due primarily to favorable product mix attributable to increased revenues from military and homeland security markets. Gross profit margin for the year to date was 46% compared to 41% for the prior year to date period, driven by favorable product mix attributable to increased revenues from military, telecommunications and homeland security markets.
-- Operating loss for the quarter was $225,000 as compared to an operating loss of $768,000 for the quarter ended September 28, 2007. Operating income year to date was $14,000 compared to an operating loss of $1.8 million for the prior year to date period.
-- GAAP net loss for the quarter was $326,000, or $.01 per diluted share, as compared to a GAAP net loss of $1.9 million, or $.09 per diluted share, for the quarter ended September 28, 2007. GAAP net loss year to date was $179,000 or $.01 per diluted share, as compared to $3.8 million, or $.19 per diluted share, for the prior year period.
-- The Non-GAAP net income for the second quarter of fiscal 2009 was $307,000, or $0.01 per diluted share, as compared to a Non-GAAP net loss of $86,000, or $.00 per diluted share, for the comparable quarter ended September 28, 2007. The Company reported year to date Non-GAAP net income of $1.2 million, or $0.05 per diluted share, as compared to a Non-GAAP loss of $350,000, or $0.02 per diluted share, for the comparable prior year period.
-- On an EBITDA basis (which is defined as GAAP earnings before interest, taxes, depreciation, and amortization), the Company reported EBITDA of $559,000 for the second quarter of fiscal 2009 as compared to EBITDA of $15,000 for the quarter ended September 28, 2007. For the year to date, the Company reported EBITDA of $1.6 million as compared to a negative EBITDA of $324,000 for the comparable prior year period.
Richard Kurtz, Chairman and Chief Executive Officer, commented, "We are pleased with the results of the second quarter. The balance and strength of our three product platforms continues to give us the ability to meet our growth targets in this challenging economic environment. As we've stated previously, our market opportunities and product platforms compliment each another, and each product platform gives us a solid foundation to grow. In the second quarter, the strongest growth came from our military, industrial and homeland security markets. We continue to believe we are in a strong multi-year growth period, but can still experience uneven quarterly revenue growth in our product platforms as our customers continue to test, qualify and deploy next-generation 40G HSOR and terahertz systems. We expect to continue to see fluctuations in our customers' spending in any given quarter due primarily to slower new product introductions and reduced capital expenditures due to current macro economic conditions. Looking ahead we continue to be cautiously optimistic and are taking a prudently cautious view of guidance for the balance of the year. As a result we are continuing to hold to our revenue growth target of 30% year over year."
The Company will hold a conference call to discuss the results for the second quarter ended September 26, 2008 on Monday, November 10, 2008, at 5:00 PM EST. Participants can dial into the conference call at 888-713-4217 (617-213-4869 for international) using the pass code 81504349. The call will be webcast live by CCBN and can be accessed at Advanced Photonix's web site at http://investor.advancedphotonix.com/or at http://www.earnings.com/. An audio replay of the call will be available shortly thereafter the same day and will remain on-line for two weeks. The replay number is 888-286-8010 (617-801-6888 for international) using pass code 13151357.
Forward-looking Statements:
The information contained herein includes forward looking statements that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, risks associated with the move of our wafer fabrication facilities, technological obsolescence of existing product lines and technological obstacles which may prevent or slow the development and/or manufacture of new products, limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company and a decline in the general demand for optoelectronic products.
Condensed Consolidated Balance Sheets
Assets September 26, 2008 March 31, 2008
Current Assets (unaudited)
Cash and cash equivalents $389,000 $82,000
Restricted cash 500,000 1,500,000
Accounts receivable, net of allowance 5,188,000 3,202,000
Inventories, net of allowances 4,309,000 4,131,000
Prepaid expenses and other current assets 478,000 195,000
Total current assets 10,864,000 9,110,000
Equipment & Leasehold Improvements, at
cost 11,226,000 10,847,000
Accumulated depreciation (6,627,000) (6,090,000)
Net Equipment and Leasehold Improvements 4,599,000 4,757,000
Goodwill 4,579,000 4,579,000
Patents, net 621,000 538,000
Intangible assets, net 9,295,000 10,333,000
Other assets 385,000 386,000
Total assets $30,343,000 $29,703,000
Liabilities and shareholders' equity
Current liabilities
Line of credit $1,363,000 $1,300,000
Accounts payable 1,420,000 1,339,000
Accrued expenses 1,962,000 1,254,000
Current portion of long-term debt-related
parties 1,851,000 900,000
Current portion of long-term debt-capital
lease obligations - 460,000
Current portion of long-term debt-bank
term loan 398,000 -
Current portion of long-term debt - MEDC 322,000 62,000
Total current liabilities 7,316,000 5,315,000
Long term debt, less current portion 3,327,000 2,249,000
Long term debt, less current portion -
capital lease obligations - 1,457,000
Long term debt, less current
portion-related parties - 951,000
Total liabilities 10,643,000 9,972,000
Shareholders' equity
Class A common stock, $.001 par value,
100,000,000 shares authorized;
September 26, 2008 - 24,076,216 shares
issued and outstanding; March 31, 2008 -
23,977,678 shares issued and outstanding 24,000 24,000
Additional paid-in capital 52,298,000 52,150,000
Accumulated deficit (32,622,000) (32,443,000)
Total shareholders' equity 19,700,000 19,731,000
Total liabilities and shareholders'
equity $30,343,000 $29,703,000
Consolidated Statements of Operations (unaudited)
Three months ended Six months ended
September 26, September 28, September 26, September 28,
2008 2007 2008 2007
Net Sales $8,188,000 $6,529,000 $15,958,000 $12,674,000
Cost of Sales 4,624,000 3,784,000 8,638,000 7,459,000
Gross Margin 3,564,000 2,745,000 7,320,000 5,215,000
Other Operating Expenses
Research &
Development 1,081,000 1,016,000 2,209,000 1,910,000
General &
Administrative 1,432,000 1,180,000 2,515,000 2,353,000
Amortization 518,000 490,000 1,044,000 980,000
Wafer Fab
Consolidation 48,000 268,000 208,000 611,000
Sales & Marketing 710,000 559,000 1,330,000 1,205,000
Total Other
Operating
Expenses 3,789,000 3,513,000 7,306,000 7,059,000
Net Operating Income
(Loss) (225,000) (768,000) 14,000 (1,844,000)
Other (Income) &
Expense
Other (Income)
/Expense 2,000 (12,000) 2,000 (18,000)
Interest Income (12,000) (26,000) (28,000) (47,000)
Interest
Expense-Related
Parties 28,000 42,000 55,000 99,000
Interest Expense -
Warrant discount - 805,000 - 1,373,000
Interest Expense 83,000 280,000 164,000 512,000
Other (Income) &
Expense 101,000 1,089,000 193,000 1,919,000
Net Income (Loss) $(326,000) $(1,857,000) $(179,000) $(3,763,000)
Basic and diluted
earnings per share $(0.01) $(0.09) $(0.01) $(0.19)
Weighted number of
shares outstanding
- Basic and
diluted 24,060,000 19,906,000 24,035,000 19,584,000
Non-GAAP Financial Measures
The Company provides Non-GAAP Net Income and EBITDA as supplemental financial information regarding the Company's operational performance. These Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. Non-GAAP Net Income and EBITDA should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from similar measures used by other companies. Reconciliation of Non-GAAP Net Income and EBITDA to GAAP net income and loss are set forth in the financial schedule section below.
Reconciliation of Non-GAAP Income (loss) to GAAP Income (loss)
Three months ended Six months ended
September 26, September 28, September 26, September 28,
2008 2007 2008 2007
Net Income (Loss) $(326,000) $(1,857,000) $(179,000) $(3,763,000)
Add Back:
Interest Expense -
Convertible notes - 129,000 - 256,000
Interest expense -
Warrant (fair value) - 805,000 - 1,373,000
Amortization -
intangibles/patents 518,000 490,000 1,044,000 980,000
Stock Option
Compensation Expense 67,000 49,000 100,000 133,000
Private Placement - 30,000 - 60,000
Other Expense -
Wafer
Fabrication 48,000 268,000 208,000 611,000
Subtotal - Add
backs 633,000 1,771,000 1,352,000 3,413,000
Non-GAAP Income
(Loss) $307,000 $(86,000) $1,173,000 $(350,000)
Net earnings loss per
share $0.01 $(0.00) $0.05 $(0.02)
Weighted Average
Number of shares
outstanding 24,060,000 19,906,000 24,035,000 19,584,000
Reconciliation of EBITDA to GAAP income/(loss)
Three months ended Six months ended
September 26, September 28, September 26, September 28,
2008 2007 2008 2007
Net Income (Loss) $(326,000) $(1,857,000) $(179,000) $(3,763,000)
Add Back:
Net Interest
expense (income) 99,000 296,000 191,000 564,000
Interest expense -
Warrant (fair value) - 805,000 - 1,373,000
Depreciation Expense 268,000 281,000 536,000 522,000
Amortization 518,000 490,000 1,044,000 980,000
Subtotal - Add
backs 885,000 1,872,000 1,771,000 3,439,000
EBITDA $559,000 $15,000 $1,592,000 $(324,000)
Advanced Photonix, Inc.(R) is a leading vertically integrated optoelectronic semiconductor manufacturer of optoelectronic solutions, high-speed optical receivers and terahertz instrumentation to a global OEM customer base. Products include patented silicon (Si), indium phosphide (InP) and gallium arsinide (GaAs) based APD, PIN, and FILTRODE(R) photodetectors; high-speed optical receivers; and the T-Ray(TM) 2000 and QA1000 THz product platforms. More information on Advanced Photonix can be found at http://www.advancedphotonix.com/.
Contact:
Richard Kurtz, Advanced Photonix, Inc. (734) 864-5600
Richard Moyer, Cameron Associates (212) 554-5466
Advanced Photonix, Inc.(R)
CONTACT: Richard Kurtz, Advanced Photonix, Inc., +1-734-864-5600, or Richard Moyer, Cameron Associates, +1-212-554-5466
Web site: http://www.advancedphotonix.com/
Tucows Inc. reports financial results for the third quarter of 2008
TORONTO, Nov. 10 /PRNewswire-FirstCall/ -- Tucows Inc., a global provider of domain names, email and other Internet services, today reported its financial results for the third quarter ended September 30, 2008. All figures are in U.S. dollars.
"Despite a difficult environment, our third quarter revenue growth was driven by the strong performance of our OpenSRS Wholesale Services, primarily domain registration," said Elliot Noss, President and CEO of Tucows. "A number of factors, including weakness in our email business and the general economy putting downward pressure on advertising has dampened our cash flow in 2008. In addition, the significant strengthening of the Canadian dollar during the quarter negatively impacted net income by over $1 million compared to the third quarter last year. As a result, while we still expect 2008 revenue and net income to grow compared to last year, we now expect cash flow from operations for 2008 to be lower than last year."
Mr. Noss continued, "In 2008 we completed numerous initiatives that will result in growth across our business. These accomplishments, combined with a business model composed predominantly of high-volume, low-cost transactions for services essential to establishing and maintaining a presence on the Internet, position us well to weather challenging economic conditions."
"Our business will continue to generate strong cash flow from operations," said Noss. "This, combined with proceeds from the sale of our equity position in Afilias and the recent divestiture of non-core hosting assets will support our share buyback program, as we focus on realizing value for our shareholders."
Summary Financial Results
(Numbers in Thousands of US Dollars, Except Per Share Data)
-------------------------------------------------------------------------
3 Months 3 Months 9 Months 9 Months
Ended Ended Ended Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2008 2007 2008 2007
-------------------------------------------------------------------------
Net Revenue $20,147 $17,812 $59,309 $56,398
-------------------------------------------------------------------------
EBITDA 1,293 1,378 5,487 7,922
-------------------------------------------------------------------------
Adjusted Net Income (93) 1,130 2,639 8,258
-------------------------------------------------------------------------
Net (Loss)/Income (71) (311) 1,056 3,610
-------------------------------------------------------------------------
Net (Loss) Income/Share - - 0.01 0.05
-------------------------------------------------------------------------
Cash Flow from Operations (107) 2,264 2,590 5,788
-------------------------------------------------------------------------
Summary of Revenue and Cost of Revenue
(Numbers in Thousands of US Dollars)
-------------------------------------------------------------------------
Revenue Cost of Revenue
-------------------------------------------------------------------------
Three Three Three Three
Months Months Months Months
Ended Ended Ended Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2008 2007 2008 2007
-------------------------------------------------------------------------
Traditional Domain
Registration Services $13,688 $12,332 $11,016 $9,159
-------------------------------------------------------------------------
Domain Portfolio Services 1,265 538 183 161
-------------------------------------------------------------------------
Email Services 1,517 1,771 162 153
-------------------------------------------------------------------------
Retail Services 2,071 1,462 558 441
-------------------------------------------------------------------------
Other Services 1,606 1,709 408 417
-------------------------------------------------------------------------
Total $20,147 $17,812 $12,327 $10,331
-------------------------------------------------------------------------
Net revenue for the third quarter of fiscal 2008 increased 13.1% to $20.1 million from $17.8 million for the third quarter of fiscal 2007. The increase was the result of the growth in both traditional domain registration services and domain portfolio services.
Adjusted net income for the third quarter of 2008 was a loss of $93,000 compared with adjusted net income of $1.1 million for the third quarter of 2007. Net loss was $71,000, or $0.00 per share, compared with a net loss of $311,000, or $0.00 per share, for the third quarter of fiscal 2007.
Deferred revenue at the end the third quarter of fiscal 2008 was $54.4 million, an increase of 9% from $49.8 million at the end of the third quarter of 2007 and unchanged from $54.4 million at the end of the second quarter of fiscal 2008.
Cash and restricted cash at the end of the third quarter of fiscal 2008 was $2.7 million compared with $6.2 million at the end of the third quarter of fiscal 2007 and $2.9 million at the end of the second quarter of fiscal 2008. This decrease compared to the second quarter of 2008 is primarily the result of cash used in operations of $107,000, additions to property, plant and equipment of $627,000 and the repayment of $479,000 of the Company's bank loan, which was partially offset by $921,000 generated through the sale of the Company's remaining hosting accounts.
EBITDA and Adjusted Net Income
To assist financial statement users in an assessment of the Company's historical performance and to project its future earnings and cash flows, the Company has included earnings before interest, taxes, depreciation and amortization (EBITDA). EBITDA is presented because it is an important supplemental measure of performance frequently used by securities analysts, investors and other interested parties in the evaluation of companies. Other companies may calculate EBITDA differently. EBITDA is not a measurement of financial performance under generally accepted accounting principles (GAAP) and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to Net Income as indicators of operating performance or any other measures of performance derived in accordance with (GAAP). Because EBITDA is calculated before recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a measure of discretionary cash available to invest in the growth of the business. See the Consolidated Statements of Cash Flows included in the attached financial statements. As a non-GAAP performance measure, EBITDA, has certain material limitations as follows:
- It does not include interest expense. Because the Company has
borrowed money to finance some of its operations, interest is a
necessary part of the Company's costs and ability to generate
revenue. Therefore, any measure that excludes interest has material
limitations;
- It does not include depreciation and amortization expense. Because
the Company must utilize capital assets in order to generate
revenues, depreciation and amortization expense is a necessary and
ongoing part of the Company's costs. Therefore, any measure that
excludes depreciation and amortization expense has material
limitations; and,
- It does not include taxes. Because the payment of taxes is a
necessary and ongoing part of the Company's operations, any measure
that excludes taxes has material limitations.
Management compensates for these limitations by considering the economic effect of the excluded expense items independently as well as in connection with its analysis of net earnings.
Adjusted Net Income represents EBITDA plus the additional adjustments described in the table below. The adjustments reflect the material amount of cash collected by the Company for domain registrations and other Internet services paid for the full term at the time of activation, with the revenue deferred, net of prepaid fees. In addition, adjusted Net Income reflects earnings and expenses considered as non-representative of ongoing business for the reasons specified below. Each of the items being adjusted for may create certain material limitations in the use of Adjusted Net Income as a non-GAAP financial measure. Adjusted Net Income is one of the primary measures the Company uses for planning and budgeting purposes, incentive compensation and to monitor and evaluate Tucows' financial and operating results. Adjusted Net Income is not a measurement of financial performance under GAAP and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of operating performance or any other measures of performance derived in accordance with generally accepted accounting principles. See the Consolidated Statements of Cash Flows included in the attached financial statements.
Conference Call
Tucows will host a conference call today, Monday, November 10, at 5:00 p.m. ET to discuss the Company's third quarter results. To access the conference call via the Internet go to http://tucowsinc.com/investors and click on "Financials."
For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 416-640-1917 or 1-877-289-8525 and enter the pass code 21286921 followed by the pound key. The telephone replay will be available until Monday, November 17, 2008 at midnight. To access the archived conference call as an MP3 via the Internet, go to http://tucowsinc.com/investors.
About Tucows
Tucows is a global Internet services company.
OpenSRS manages over 8 million domain names and millions of email boxes through a reseller network of over 9,000 web hosts and ISPs. Our Retail group sells services directly to consumers and small businesses through Domain Direct, It's Your Domain and NetIdentity. YummyNames owns premium domain names that generate revenue through advertising or resale. Butterscotch.com is an online video network building on the foundation of Tucows.com.
More information can be found at http://tucowsinc.com/.
This release may contain forward-looking statements, relating to the Company's operations or to the environment in which it operates, which are based on Tucows Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and are subject to important risks, uncertainties and assumptions concerning future conditions that may ultimately prove to be inaccurate or differ materially from actual future events or results. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, investors should not place undue reliance on these forward-looking statements, which are based on Tucows Inc.'s current expectations, estimates, projections, beliefs and assumptions. These forward-looking statements speak only as of the date of this release and are based upon the information available to Tucows Inc. at this time. Tucows Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Tucows Inc.
Consolidated Balance Sheets
(Dollar amounts in U.S. dollars)
(unaudited)
September 30, December 31,
2008 2007
-------------- --------------
Assets
Current assets:
Cash and cash equivalents $ 2,721,033 $ 8,093,476
Accounts receivable 3,656,567 3,422,180
Prepaid expenses and deposits 2,595,737 3,132,129
Prepaid domain name registry and other
Internet services fees, current portion 29,008,651 25,473,465
Cash held in escrow 1,088,793 1,070,632
Deferred tax asset, current portion 500,000 500,000
-------------- --------------
Total current assets 39,570,781 41,691,882
Prepaid domain name registry and other
Internet services fees, long-term portion 11,713,428 10,765,862
Property and equipment 3,551,311 4,963,311
Deferred financing charges 89,800 128,200
Deferred tax asset, long-term portion 2,500,000 2,500,000
Intangible assets 20,597,060 22,150,738
Goodwill 17,490,807 17,490,807
Investment 353,737 353,737
-------------- --------------
Total assets $ 95,866,924 $ 100,044,537
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 2,302,239 $ 2,689,346
Accrued liabilities 2,975,686 3,289,087
Customer deposits 3,119,092 3,267,784
Promissory note payable - 6,000,000
Loan payable, current portion 1,914,242 1,914,242
Deferred revenue, current portion 38,159,670 35,465,584
Accreditation fees payable, current
portion 513,989 483,090
-------------- --------------
Total current liabilities 48,984,918 53,109,133
Deferred revenue, long-term portion 16,221,513 15,147,644
Accreditation fees payable, long-term
portion 190,811 181,345
Loan payable, long-term portion 4,423,685 6,859,366
Deferred tax liability 5,396,000 5,396,000
Stockholders' equity:
Preferred stock - no par value, 1,250,000
shares authorized; none issued and
outstanding - -
Common stock - no par value, 250,000,000
shares authorized; 73,923,542 shares
issued and outstanding at September 30,
2008 and 73,888,542 shares issued and
outstanding at December 31, 2007 15,368,310 15,350,915
Additional paid-in capital 48,762,868 48,537,313
Deficit (43,481,181) (44,537,179)
-------------- --------------
Total stockholders' equity 20,649,997 19,351,049
-------------- --------------
Total liabilities and stockholders' equity $ 95,866,924 $ 100,044,537
-------------- --------------
-------------- --------------
Tucows Inc.
Consolidated Statements of Operations
(Dollar amounts in U.S. dollars)
(unaudited)
Three months ended Nine months ended
September 30, September 30,
2008 2007 2008 2007
------------- ------------- ------------- -------------
Net revenues $ 20,147,195 $ 17,811,914 $ 59,308,731 $ 56,398,012
Cost of revenues:
Cost of
revenues* 13,981,247 12,271,047 40,794,276 35,702,644
Depreciation of
property and
equipment 795,445 995,954 2,437,542 2,791,050
Amortization of
intangible
assets 29,199 83,060 134,597 210,132
------------- ------------- ------------- -------------
Total cost of
revenues 14,805,891 13,350,061 43,366,415 38,703,826
------------- ------------- ------------- -------------
Gross profit 5,341,304 4,461,853 15,942,316 17,694,186
Expenses:
Sales and
marketing* 1,705,512 1,712,676 5,132,380 4,537,198
Technical
operations and
development* 1,527,237 1,723,857 4,666,832 5,288,829
General and
administrative* 2,240,134 1,257,206 5,361,217 3,566,847
Depreciation of
property and
equipment 57,386 68,316 177,317 198,107
Loss on
disposition of
property and
equipment 498,529 - 498,529 -
Amortization of
intangible
assets 360,540 322,781 1,122,655 778,823
------------- ------------- ------------- -------------
Total expenses 6,389,338 5,084,836 16,958,930 14,369,804
------------- ------------- ------------- -------------
Income (loss) from
operations (1,048,034) (622,983) (1,016,614) 3,324,382
Other income
(expenses):
Interest income
(expense), net (90,859) (203,376) (467,264) (294,322)
Other income,
net 1,098,245 530,583 2,631,010 619,014
------------- ------------- ------------- -------------
Total other
income 1,007,386 327,207 2,163,746 324,692
------------- ------------- ------------- -------------
Income (loss)
before provision
for income taxes (40,648) (295,776) 1,147,132 3,649,074
Provision for
income taxes 30,000 14,816 91,134 38,816
------------- ------------- ------------- -------------
Net income (loss)
for the period $ (70,648) $ (310,592) $ 1,055,998 $ 3,610,258
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
Basic earnings
(loss) per
common share $ (0.00) $ (0.00) $ 0.01 $ 0.05
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
Shares used in
computing basic
earnings (loss)
per common share 73,923,542 74,100,911 73,903,998 74,548,903
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
Diluted earnings
(loss) per common
share $ (0.00) $ (0.00) $ 0.01 $ 0.05
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
Shares used in
computing diluted
earnings (loss)
per common share 73,923,542 74,100,911 75,245,047 77,417,506
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
*Stock-based
compensation has
been included in
expenses as
follows:
Cost of
revenues $ 5,500 $ 4,100 $ 14,600 $ 11,000
Sales and
marketing $ 17,200 $ 21,400 $ 48,500 $ 61,100
Technical
operations and
development $ 13,100 $ 18,900 $ 41,800 $ 62,300
General and
administrative $ 52,500 $ 33,900 $ 128,600 $ 118,100
Tucows Inc.
Reconciliation of EBITDA and Adjusted Net (Loss) Income
(Dollar amounts in U.S. dollars)
(unaudited)
Three months ended Nine months ended
September 30, September 30,
2008 2007 2008 2007
------------- ------------- ------------- -------------
Net income (loss)
for the period $ (70,648) $ (310,592) $ 1,055,998 $ 3,610,258
Depreciation of
property and
equipment 852,831 1,064,270 2,614,859 2,989,157
Amortization of
intangible
assets 389,739 405,841 1,257,252 988,955
Interest income
(expense), net 90,859 203,376 467,264 294,322
Provision for
income taxes 30,000 14,816 91,134 38,816
------------- ------------- ------------- -------------
EBITDA 1,292,781 1,377,711 5,486,507 7,921,508
------------- ------------- ------------- -------------
Adjustments to
EBITDA(1)
Change in prepaid
domain name
registry and other
Internet services
fees (775,955) (795,949) (4,482,752) (3,548,500)
Change in deferred
revenue (9,699) 834,795 3,767,955 4,711,315
Loss on disposition
of property and
equipment 498,529 - 498,529 -
Dividend income (176,861) - (353,722) -
Transitional costs - 244,336 - 244,336
Reversal of
contingencies - - - (451,249)
Sale of customer
relationships (921,384) - (2,042,449) -
Other Income - (530,583) (234,839) (619,014)
------------- ------------- ------------- -------------
Subtotal
Adjustments
to EBITDA (1,385,370) (247,401) (2,847,278) 336,888
------------- ------------- ------------- -------------
Adjusted Net
Income (Loss) $ (92,589) $ 1,130,310 $ 2,639,229 $ 8,258,396
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
(1) Adjustments to EBITDA
We define Adjusted EBITDA as net income adjusted for depreciation,
amortization, interest, taxes and further adjusted for certain cash
and non-cash charges.
Consolidated Statements of Cash Flows
(Dollar amounts in U.S. dollars)
(unaudited)
Three months ended Nine months ended
September 30, September 30,
2008 2007 2008 2007
------------- ------------- ------------- -------------
Cash provided by
(used in):
Operating
activities:
Net income (loss)
or the period $ (70,648) $ (310,592) $ 1,055,998 $ 3,610,258
Items not
involving cash:
Depreciation
of property
and equipment 852,831 1,064,270 2,614,859 2,989,157
Loss on
disposition of
property and
equipment 498,529 - 498,529 -
Amortization of
deferred financing
charges 12,200 (142,600) 38,400 (142,600)
Amortization of
intangible assets 389,739 405,841 1,257,252 988,955
Gain on sale of
customer
relationships (921,384) - (2,042,449) -
Unrealized change
in the fair
value of forward
exchange
contracts 525,571 (61,673) 555,364 (1,164,114)
Stock-based
compensation 88,300 78,300 233,500 252,500
Change in non-cash
operating working
capital:
Accounts
receivable (518,310) 87,922 (234,387) (975,729)
Prepaid expenses
and deposits 641,629 875,841 536,392 (161,669)
Prepaid fees for
domain name
registry and other
Internet services
fees (775,955) (795,949) (4,482,752) (3,548,500)
Accounts payable (480,839) (161,037) (231,770) (906,624)
Accrued
liabilities (177,701) 218,368 (868,765) 651,189
Customer deposits (167,691) 204,906 (148,692) (165,560)
Deferred revenue (9,699) 834,795 3,767,955 4,711,315
Accreditation fees
payable 6,245 (34,255) 40,365 (350,283)
------------- ------------- ------------- -------------
Net cash (used in)
provided by
operating
activities (107,183) 2,264,137 2,589,799 5,788,295
------------- ------------- ------------- -------------
Financing activities:
Proceeds received
on exercise of
stock options - 17,912 9,450 204,255
Repurchase of shares - - - (2,446,955)
Proceeds received on
loan payable - 9,571,209 - 9,571,209
Repayment of
promissory note and
loan payable (478,561) (319,040) (8,435,681) (319,040)
------------- ------------- ------------- -------------
Net cash (used in)
provided by
financing
activities (478,561) 9,270,081 (8,426,231) 7,009,469
------------- ------------- ------------- -------------
Investing activities:
Cost of domain names
(acquired)/sold 4,705 - (4,239) (18,425)
Additions to
property and
equipment (627,024) (200,213) (1,922,764) (3,093,366)
Proceeds on
disposition of
property and
equipment 66,039 - 66,039 -
Decrease in
restricted cash -
being margin
security against
forward exchange
contracts - 255,000 - 764,423
Acquisition of
Hosted Messaging
Assets from Critical
Path Inc., net of
cash acquired - - - (90,050)
Acquisition of
Boardtown Corporation,
net of cash acquired - - - (4,900)
Acquisition of Innerwise
Inc., net of cash
acquired - (10,332,065) - (10,332,065)
Sale of customer
relationships 921,384 - 2,343,114 -
(Decrease) increase
in cash held in
escrow (5,396) (1,058,620) (18,161) (364,041)
------------- ------------- ------------- -------------
Net cash provided
by (used in)
investing
activities 359,708 (11,335,898) 463,989 (13,138,424)
------------- ------------- ------------- -------------
(Decrease) increase
in cash and cash
equivalents (226,036) 198,320 (5,372,443) (340,660)
Cash and cash
equivalents,
beginning of
period 2,947,069 5,717,412 8,093,476 6,256,392
------------- ------------- ------------- -------------
Cash and cash
equivalents, end
of period $ 2,721,033 $ 5,915,732 $ 2,721,033 $ 5,915,732
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
Supplemental cash
flow information:
Interest paid $ 100,060 $ 274,369 $ 552,298 $ 484,368
Supplementary
disclosure of
non-cash investing
activity:
Capital assets
acquired during
the period not yet
paid for $ 117,733 $ 293,205 $ 117,733 $ 293,205
Tucows Inc.
CONTACT: Company Contact: Leona Hobbs, Director, Communications, Tucows Inc., (416) 538-5450, ir@tucows.com; Investor Contact: Todd Kehrli or Mary Magnani, MKR Group, (323) 468-2300, tcx@mkr-group.com
Belden Unveils Industrial Web Site for Manufacturing and Processing Plants and Industrial Infrastructures
RICHMOND, Ind., Nov. 10 /PRNewswire-FirstCall/ -- Belden , a world leader in the development of signal transmission products for the industrial, enterprise, building management, broadcast, and security markets, has unveiled its new Industrial Web Site, accessible at: http://www.belden.com/industrial. The site is designed to serve the infrastructure communications needs of industrial professionals, as well as system designers and integrators who serve the harsh and demanding industrial marketplace. This includes process industries such as oil, gas and petrochemicals, food & beverage, and pharmaceuticals; discrete manufacturing industries such as automotive, packaging, and consumer products; and infrastructure facilities such as water/wastewater, wind energy, and transportation.
The new Belden Web Site offers interactive product/application graphics and deep product and technical information -- including an overview of products central to Belden's Integrated Industrial Solution: Belden Industrial cables/connectivity, Hirschmann Industrial Ethernet switches and Lumberg Automation Industrial Ethernet connectivity.
Following is a quick tour of what visitors will discover at the new Industrial Website:
-- Products - Belden's full line of cabling products including
DataTuff(R) and TrayOptic(R) cables for Industrial Ethernet and
other network protocols, machine control and robotics, process
automation and control, and an overview of Hirschmann-branded
Ethernet switches, and Lumberg Automation-branded connectivity
products.
-- Network & Protocol Solutions - Belden cables for DeviceNet,
PROFIBUS, Ethernet IP, CC-Link, FOUNDATION Fieldbus, and more.
-- Industry Solutions - Specific Belden solutions for diverse
industrial applications, i.e., petrochemical industry and
water/wastewater.
-- Services and Support - Including Network Design, Training,
Technical Support, and System Performance.
-- Technical Information - A wealth of valuable information
covering virtually every facet of industrial networking. Users can
download an array of product bulletins, technical bulletins, white
papers, reference guides, application reports, procurement specs,
brochures, and the Belden Master Catalog. Plus the eCatalog is
available on the site to all users, complete with technical data
sheets.
-- News & Events - Belden press releases and a schedule of trade
shows.
For more information, contact Belden, P.O. Box 1980, Richmond, Indiana 47375, or call 1.800.BELDEN.1. FAX: 765.983.5294. Or visit the new Industrial Web site: http://www.belden.com/industrial.
About Belden
Sending All the Right Signals -- from industrial automation to data centers, from broadcast studios to aerospace, from cutting-edge wireless communications to consumer electronics, Belden people are committed to delivering the best signal transmission solutions in the world. Our 8,000 associates worldwide work in copper cable, fiber, wireless technology, connectors, switches and active components to bring voice, video and data to your mission-critical application. With 2007 revenue of $2.0 billion, Belden has manufacturing capability in North America, Europe and Asia. To obtain additional information contact Investor Relations at 314-854-8054, or visit our website at http://www.belden.com/
Belden
CONTACT: Janet Killen of Adventive Marketing, Inc., +1-847-590-1110, for Belden
Web Site: http://www.belden.com/ http://www.belden.com/industrial/
LodgeNet, LG Electronics Announce New Free-to-Guest and Video On Demand Solutions Based On 'Pro:Centric' TechnologyNew Solutions Will Provide One-to-One Guest Services Through In-room Interactive Platform, Reducing the Need for Expensive Set-Top Boxes
NEW YORK, Nov. 10 /PRNewswire/ -- LodgeNet Interactive Corporation and LG Electronics are collaborating on the development of an Interactive Electronic Program Guide (IEPG) as the first in what is expected to be a series of in-room interactive applications based on the new Pro:Centric(TM) standards-based applications platform.
Announced here today at the 2008 International Hotel/Motel & Restaurant Show, LG Electronics' new Pro:Centric technology is designed to support interactive applications such as program guides, games, Web services and other applications designed to communicate with and connect guests to hotel services.
LG has chosen LodgeNet as its lead associate in developing applications and support services for this new platform, and solutions developed for the platform will be compatible with a range of existing LodgeNet free-to-guest (FTG) TV and video-on-demand (VOD) solutions.
"LodgeNet and LG are working together to bring this new platform to the hospitality industry to further enhance the in-room guest experience," said Dave Bankers, LodgeNet Senior Vice President of Product and Technology Development. "Our first collaborative application is an IPG. We are also evaluating additional applications such as hotel information and environmental controls to take advantage of the Pro:Centric platform."
Richard Lewis, senior vice president of Research and Technology for LG Electronics' U.S. R&D subsidiary, said, "We're joining forces with LodgeNet on this initiative based on its unmatched capabilities in delivering innovative new media and connectivity solutions for the hospitality industry. Working with LodgeNet allows LG to quickly introduce compelling applications for the Pro:Centric platform and ensure that hoteliers have the service and support required to operate and extend this environment thereby maximizing the return on their existing entertainment system investment."
CUSTOMIZED CONTENT DELIVERY
LG Electronics' Pro:Centric LG700H LCD HDTV series, combined with LodgeNet's various TV-based platforms and products, supports a broad range of in-room TV services including standalone FTG to VOD and expanded Web based applications. By working together on these new solutions, LodgeNet and LG will increase the capacity and potential of the guest room television to serve as a robust point of convergence for content and services from various sources to meet the marketing, information and entertainment needs of hoteliers and their guests.
Optimized for LodgeNet TV systems, LG's LG700H HDTV models are not only equipped with the Pro:Centric platform, but also provide hoteliers with the industry-standard Pro:Idiom(R) digital rights management system, for the secure, broad deployment of HDTV and other high-value digital content throughout the hotel. In addition, this content is delivered in multiple formats including built-in MPEG-2 and MPEG-4 technology that decodes high-definition (HD) content, so hoteliers get more HD channels and can provide guests with expanded entertainment options.
ABOUT LODGENET INTERACTIVE
LodgeNet Interactive Corporation is the leading provider of media and connectivity solutions designed to meet the unique needs of hospitality, healthcare and other guest-based businesses. LodgeNet Interactive serves more than 1.9 million hotel rooms representing 10,000 hotel properties worldwide in addition to healthcare facilities throughout the United States. The company's services include: Interactive Television Solutions, Broadband Internet Solutions, Content Solutions, Professional Solutions and Advertising Media Solutions. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit http://www.lodgenet.com/.
ABOUT LG ELECTRONICS USA, INC.
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a global force in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a wide range of consumer electronics (digital display and digital media) products, mobile phones and digital appliances under LG's "Life's Good" marketing theme. For more information, please visit http://www.lgusa.com/.
ABOUT LG COMMERCIAL PRODUCTS,
LG Commercial Products is a division of LG Electronics USA, serves digital signage, lodging and hospitality, business-to-business (systems integration and industrial), healthcare, and channel markets (education and government). Based in Lincolnshire, Ill., with its dedicated engineering and customer support team, LG Commercial furnishes a broad range of products and services tailored to the particular needs of business environments. For more information, please visit http://www.lgcommercial.com/.
Pro:Centric is a trademark of LG Electronics. Pro:Idiom is a registered trademark of Zenith Electronics LLC. LodgeNet is a registered trademark of LodgeNet Interactive Corporation.
LG Electronics USA, Inc.
CONTACT: John I. Taylor, +1-847-941-8181, jtaylor@lge.com, or Ojas Naik, +1-312-397-6008, ojas.naik@ogilvypr.com, both for LG Electronics USA, Inc.; or Ann Parker of LodgeNet Interactive Corporation, +1-605-988-1000, ann.parker@lodgenet.com
Web site: http://www.lgusa.com/ http://www.lodgenet.com/ http://www.lgcommercial.com/
Belden Expands Cat 5e Industrial Ethernet Family With a 10 Million-Cycle, Continuous Flex Cable and a Shielded and Stranded Cable
RICHMOND, Ind., Nov. 10 /PRNewswire-FirstCall/ -- Belden , a world leader in the development of signal transmission products for the industrial, building management, enterprise, broadcast, and security markets, announces two new additions to its comprehensive line of DataTuff(R) Industrial Ethernet cables for industrial data networks and plant floor control. Belden Category 5e DataTuff Shielded Twisted Pair Continuous Flex cable -- Product No SI7938A -- is rated for use in continuous motion machinery, such as C-Track and festoon systems, as well as robotics frequently used in discrete manufacturing and automated assembly lines. Belden Category 5e DataTuff Shielded Twisted Pair cable -- Product No 7939A -- features a flexible, stranded and shielded construction to resist machine and plant floor vibration, along with superior noise immunity.
Belden Category 5e DataTuff Continuous Flex Cable
Belden developed the Continuous Flex cable to fulfill a need in the industrial marketplace for a high-performance cable capable of withstanding the stresses caused over time by continuous flexing in mission-critical applications, without damage to the cable or degradation of its Cat 5e electrical performance. In fact, the ruggedly constructed 4-pair cable was rated by Belden in tests involving over ten million flex cycles on a C-Track, at a radius ten times the cable diameter. The cable maintained its physical and signal transmission integrity - with no damage to the cable, no cable failure, and no drop in Cat 5e electrical performance.
Belden Cat 5e DataTuff Continuous Flex cable features a stranded alloy copper conductor, which is key to its remarkable flex capacity. The 24 AWG cable also features polyolefin insulation, has an overall Beldfoil(R) foil/braid shield and dual TPE jackets to provide superior resistance to oil, weldsplatter and sunlight.
Belden Category 5e DataTuff Shielded Twisted Pair Cable
Belden's new Cat 5e DataTuff Shielded Twisted Pair cable -- #7939A -- features a flexible stranded and shielded construction that increases the cable's ability to withstand machine and plant floor vibrations and effectively resist the high levels of electrical noise (EMI/RFI) that can occur when cables come in close proximity to power lines, transformers or electrically-powered equipment. These capabilities make the new shielded twisted pair cable particularly well-suited to a wide range of industrial automation and machine control applications. The 4-pair Cat 5e Shielded cables feature stranded conductors, an overall Beldfoil(R) shield, and dual heavy-duty, industrial-grade PVC jackets to provide superior oil- and sunlight-resistance.
Both of the new Cat 5e Industrial Ethernet cables feature Belden's exclusive Bonded-Pair technology, a patented design that bonds the individual insulated conductors of each pair along the full length of the cable. The Bonded-Pair cables maintain a consistent distance between conductors, with no twisting or performance-robbing gaps, resulting in superior electrical performance both before and after installation. Belden calls this unique capability Installable Performance(R).
Belden offers the industry's most comprehensive line of Industrial Ethernet cables, including DataTuff copper-based Category 5e and Category 6 cables and TrayOptic(R) Indoor/Outdoor Fiber Optic cables. The ruggedly constructed cables are oil-, chemical- and moisture-resistant, built to withstand extreme temperature variations, and resistant to electrical noise (EMI/RFI). Belden Industrial Ethernet cables deliver top performance, consistent reliability and long service life, even in the most demanding industrial environments and mission-critical applications.
For more information about Belden Industrial Ethernet cables ask for Product Bulletin #231, Belden, P.O. Box 1980, Richmond, Indiana 47375, or call 1.800.BELDEN.1. FAX: 765.983.5294. Or visit our Web site: http://www.belden.com/industrial.
About Belden
Sending All the Right Signals -- from industrial automation to data centers, from broadcast studios to aerospace, from cutting-edge wireless communications to consumer electronics, Belden people are committed to delivering the best signal transmission solutions in the world. Our 8,000 associates worldwide work in copper cable, fiber, wireless technology, connectors, switches and active components to bring voice, video and data to your mission-critical application. With 2007 revenue of $2.0 billion, Belden has manufacturing capability in North America, Europe and Asia. To obtain additional information contact Investor Relations at 314-854-8054, or visit our website at http://www.belden.com/.
Belden
CONTACT: Janet Killen of Adventive Marketing, Inc., +1-847-590-1110, for Belden
Web site: http://www.belden.com/
Belden Offers Complete Industrial Solutions With Belden, Hirschmann and Lumberg Automation Brands
ST. LOUIS, Nov. 10 /PRNewswire-FirstCall/ -- Belden , a world leader in the development of signal transmission products for the industrial, enterprise, broadcast, and consumer electronics industries, has announced a new integrated cable, active component and connectivity marketing initiative for the most demanding and mission-critical industrial manufacturing environments.
With the addition of the Hirschmann and Lumberg Automation brands to the Belden industrial products portfolio, Belden is now the leading provider of communications networking solutions for discrete, process and infrastructure applications at the systems and components level.
According to Steve Biegacki, Belden's Global VP of Sales and Marketing, "Belden has integrated the Hirschmann and Lumberg Automation brands under the Belden umbrella, bringing fully integrated solutions to the industrial marketplace. Hirschmann industrial switches and networking devices are known to perform well in extreme conditions including high temperature environments and where MTBF (Mean Time Between Failures) is crucial. Lumberg Automation represents one of the top brands in industrial automation and connectivity, and Belden is the long-standing, global leader in industrial, networking and building management cabling technology. Together, this new family of Belden brands can provide industrial end-users and OEMs with complete, end-to-end solutions for Industrial Ethernet, supporting leading protocols like EtherNet/IP, and other automation applications that are critical to their operations."
Belden Complete Industrial Solutions Serve a Host of Applications
Belden Complete Industrial Solutions encompass products that are designed and manufactured by Belden. Industrial Ethernet systems built using exclusively Belden, Hirschmann and Lumberg Automation products will benefit from the Belden extended product warranty.
Key product lines include managed and unmanaged switches, networking connectivity components, copper and fiber optic cables, wireless LAN systems, and industrial network management software.
Key applications for Belden Complete Industrial Solutions include:
-- Processing Industries -- Chemical, Food & Beverage, Mining, Oil & Gas,
Pharmaceutical, Pulp & Paper, etc.
-- Discrete Manufacturing -- Automotive, Electronics, Industrial
Equipment, Machine Tools, Packaging, etc.
-- Industrial Infrastructures -- Airports, Bridges, Power Generation
Plants, Shipyards, Tunnels, Utilities, Water Treatment Plants, etc.
Key service and support areas for Belden Complete Industrial Solutions include:
-- Network Design Consultation and Verification
-- Training
-- Technical Support
-- Extended Product Warranties
About Belden
Sending All the Right Signals -- from industrial automation to data centers, from broadcast studios to aerospace, from cutting-edge wireless communications to consumer electronics, Belden people are committed to delivering the best signal transmission solutions in the world. Our 8,000 associates worldwide work in copper cable, fiber, wireless technology, connectors, switches and active components to bring voice, video and data to your mission-critical application. With 2007 revenue of $2.0 billion, Belden has manufacturing capability in North America, Europe and Asia. To obtain additional information contact Investor Relations at 314-854-8054, or visit our website at http://www.belden.com/.
Belden
CONTACT: Dee Johnson of Belden, +1-314-854-8054; or Janet Killen of Adventive Marketing, Inc., +1-847-590-1110, for Belden
Web site: http://www.belden.com/
Belden Unveils DataTuff(R) Category 6 UTP Round Design Cables - and All-New Industrial Ethernet User Guide
RICHMOND, Ind., Nov. 10 /PRNewswire-FirstCall/ -- Belden , a world leader in the development of signal transmission products for the industrial, building management, enterprise, broadcast, and security markets, has introduced a new Category 6 DataTuff(R) Twisted Pair cable, once again expanding its comprehensive family of Industrial Ethernet cables. The new cable -- Product No 7940A -- is EtherNet/IP compliant and is a round construction, which makes it well-suited for sealed Industrial Ethernet connectivity applications.
Belden developed the new Cat 6 Industrial Ethernet cable in response to the trend towards "future proofing" of mission-critical network and automation system backbones being installed in discrete industrial manufacturing, processing plants and large industrial infrastructures, such as water treatment and utility plants, airports, transportation terminals and shipyards. For these applications, building or upgrading to meet the Category 6 performance standard (TIA/EIA 568-B2-1) provides assurance that the network will be well-equipped not only to support today's increasingly sophisticated data communications, but also new and emerging technologies.
Belden's robustly constructed 7940A Cat 6 Unshielded Twisted Pair (4-Pair UTP) 23 AWG cable features a solid bare copper conductor and a heavy-duty oil- and sunlight-resistant jacket. In addition, the cable features Belden's exclusive Bonded-Pair technology, a patented design that bonds the individual insulated conductors of each pair along the full length of the cable. The Bonded-Pair cables maintain a consistent distance between conductors, with no twisting or performance-robbing gaps, resulting in superior electrical performance both before and after installation. Belden calls this unique capability Installable Performance(R).
The Industrial Ethernet cable line includes DataTuff(R) copper-based Category 5e and Category 6 cables and TrayOptic(R) Indoor/Outdoor Fiber Optic cables. The ruggedly constructed family contains cables that are oil-, chemical- and moisture-resistant, built to withstand extreme temperature variations, and resistant to electrical noise (EMI/RFI). Belden Industrial Ethernet cables deliver top performance, consistent reliability and long service life, even in the most demanding industrial environments and mission-critical applications.
Belden's New Industrial Ethernet User Guide Now Available!
Belden is also pleased to announce its new Industrial Ethernet User Guide, a 16-page brochure offering specific information about the dramatic performance differences between commercial off-the-shelf (COTS) Ethernet components typically used in office environments, and Belden's ruggedly built industrial-grade components.
Belden products for Industrial Ethernet applications include Belden Industrial Ethernet Cables, Hirschmann Switches, and Lumberg Automation Connectivity Components. The User Guide also provides a wealth of product information, a practical at-a-glance Cable Selection Guide, and a detailed description of nine critical tests that prove the superiority of Belden industrial-grade cables over COTS cables. The new Belden Industrial Ethernet User Guide is now available for download at the Belden Website: http://www.belden.com/industrial.
For more information about Belden Industrial Ethernet cables, ask for Product Bulletin #231. Belden, P.O. Box 1980, Richmond, Indiana 47375, 1.800.BELDEN.1. FAX: 765.983.5294. Or visit our Web site: http://www.belden.com/industrial.
About Belden
Sending All the Right Signals -- from industrial automation to data centers, from broadcast studios to aerospace, from cutting-edge wireless communications to consumer electronics, Belden people are committed to delivering the best signal transmission solutions in the world. Our 8,000 associates worldwide work in copper cable, fiber, wireless technology, connectors, switches and active components to bring voice, video and data to your mission-critical application. With 2007 revenue of $2.0 billion, Belden has manufacturing capability in North America, Europe and Asia. To obtain additional information contact Investor Relations at 314-854-8054, or visit our website at http://www.belden.com/
Belden
CONTACT: Alison McCreath of Belden, 1-800-BELDEN1; or Janet Killen of Adventive Marketing, Inc., +1-847-590-1110, for Belden
Web site: http://www.belden.com/
Aaron Rents, Inc. Completes Sale of Its Aaron's Corporate Furnishings Division to CORT Business Services Corporation
ATLANTA, Nov. 10 /PRNewswire-FirstCall/ -- Aaron Rents, Inc. , the nation's leader in the sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics and home appliances and accessories, today announced it has completed the sale of substantially all of the assets of its Aaron's Corporate Furnishings division to CORT Business Services Corporation.
The sale of the assets, which was previously announced on September 12, 2008, was closed for cash proceeds of approximately $76.4 million (which includes payment for certain accounts receivable), subject to post-closing adjustments.
Aaron Rents, Inc., based in Atlanta, currently has more than 1,545 Company-operated and franchised stores in 48 states and Canada.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron Rents, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include factors such as changes in general economic conditions, competition, pricing, customer demand and other issues, and the risks and uncertainties discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007.
Aaron Rents, Inc.
CONTACT: Gilbert L. Danielson, Executive Vice President, Chief Financial Officer, Aaron Rents, Inc., +1-404-231-0011
Web site: http://www.aaronrents.com/
AVEVA Opens Latin America Office in Brazil
HOUSTON, Texas, November 10 /PRNewswire/ -- AVEVA (LSE:AVV), the leading supplier of engineering IT systems for the
plant and marine industries, today announced further expansion into Latin
America with the opening of AVEVA do Brasil in Rio de Janeiro. This office,
the latest in AVEVA's expanding global platform, will provide premium
product solutions and support for its growing customer base in Brazil,
including the country's leading energy company.
Richard Longdon, Chief Executive of AVEVA Group, said, "As we look to the
future of global energy and infrastructure development, we are continuing our
strategy of increasing our presence in the BRICs - Brazil, Russia, India and
China. Undoubtedly, it is an opportune time for our further expansion into
the Latin American.
"Brazil has huge opportunity as well as the excitement of the recent
pre-salt discoveries. AVEVA's principal goal is to provide premier product
solutions backed by local support and service to our customers around the
world. Our expanding operations in Latin America are a clear signal of our
commitment to our customers in the region. Further, it highlights the
strength and growth of the energy industry in the region."
AVEVA serves customers throughout the Latin American region - including
Mexico, Chile, Venezuela, Columbia, Argentina and Peru. In Brazil, AVEVA has
been serving customers for 10 years. Today, the country accounts for more
than 20 percent of AVEVA's revenue for their Americas region.
"We work closely with more than 50 customers in the oil and gas, mining,
paper and pulp industries in Brazil," said Santiago Pena, AVEVA's vice
president of Latin America. "Our new office allows us to strengthen those
relationships and to continue to provide world-class technology and support
that they have come to rely upon."
The office in Rio is strategically located, providing easy access to
customers, as well as engineering contractors serving the oil and gas market.
http://www.aveva.com
AVEVA
The Brazil offices can be found at: AVEVA do Brasil Informatica Ltda.Torre Rio Sul - Rua Lauro Muller, 116 - sala 902 - Botafogo - RJ, Cep: 22-290-160, +55(21)8159-9290, +55(21)8159-9291; For more information: Danielle Allen,Edelman for AVEVA, +1-512-634-3653, danielle.allen@edelman.com
Alcatel-Lucent Introduces Services to Reduce Network Energy ConsumptionEnergy Assessments and Alternative Energy as Part of Company's Commitment to Eco-Sustainability
PARIS, Nov. 10 /PRNewswire/ -- Alcatel-Lucent (Euronext Paris and NYSE: ALU) today announced a professional services suite called "Sustainable Power." This new global solution supports growing customer demand for eco-friendly, sustainable network energy solutions to help reduce their current energy consumption and costs. Alcatel-Lucent now can offer professional network services to help customers analyze their network's power consumption requirements, identify areas where improvements can be made to existing infrastructure as well as make recommendations on alternative energy solutions using wind, solar and fuel cells.
Alcatel-Lucent's Sustainable Power practices is a multi-vendor solution designed for mobile and wireline service providers, independent telecommunications providers, government agencies, corporations, municipalities and campuses. It ranges from detailed power and battery assessment, grounding survey, power design order, equipment engineering, material sourcing services, equipment installation and equipment and battery removal and disposition. The solution also supports planning and design services, which mitigate the risk of a network outage, and business contingency plans when implementing network power solutions.
With today's announcement, Alcatel-Lucent will now offer the following services:
-- Energy assessment service to analyze existing network power
infrastructure and upgrade current systems to meet new environmental
requirements
-- Expanded multi-vendor power product and services portfolio with
alternative energy systems including wind, solar and fuel cell
-- Expanded equipment removal service that includes recycling
capabilities to dispose of assets in a eco-friendly way that complies
with U.S. federal and local regulations
Alcatel-Lucent currently is working with Cavalier Telephone, a full-service competitive communications provider (CLEC) based in Richmond, VA, to renovate its existing battery backup system. This system spans the mid-Atlantic, Midwest and Southwest areas of the United States.
"Cavalier is committed to deploying eco-friendly, sustainable network energy solutions - like upgrading our backup power system - and to doing so in a way that keeps our existing network fully operational during the process," Jim Vermeulen, Vice President of Operations, Cavalier Telephone. "Working with a single vendor to reconfigure our plant cabling, perform battery load tests and recycle the old batteries saved us money and made the project easier to manage."
"Today, energy consumption is a global business challenge dramatically impacting the bottom-line of virtually every organization. We believe energy system assessments and improvements will be critical to maintaining a competitive advantage in an era where resources are increasingly expensive and constrained," stated Andy Williams, President of Alcatel-Lucent's Services business activities. "Alcatel-Lucent is ready with a wide array of services to help customers in many industries improve their current network power consumption and to find ways to use emerging alternative technologies to prepare for a future where traditional energy resources will be costly and less available. As we look ahead to 2009 and beyond, organizations that proactively evaluate and upgrade their power systems will have a significant strategic advantage over those who pursue a business-as-usual approach."
Alcatel-Lucent is a leading network integrator with experience in the transformation of more than 60 networks with more than 20,000 service professionals worldwide and one of the industry's most comprehensive portfolio of vendor-agnostic network energy solutions. Alcatel-Lucent works with customers to design and implement modernized, up-to-date and reliable power and communications networks, while helping to lower operational costs associated with procuring, deploying and maintaining power and battery gear. The company's three dedicated IP Transformation Centers are strategically located around the globe to help carriers and enterprise customers reduce their time to market and mitigate the risk of deploying new services.
About Alcatel-Lucent and Climate Change
As a good corporate citizen, Alcatel-Lucent is committed to eco-sustainability with a particular focus on climate change. The company leverages its research and innovation teams to develop groundbreaking, environmentally friendly and energy-efficient technologies and to reduce the environmental impact of its operations. As a leading global telecommunications player, Alcatel-Lucent engages actively with its key stakeholders including customers and suppliers to address eco-sustainability and climate change issues throughout the entire supply chain. Alcatel-Lucent has signed the UN Global Compact "Caring for Climate" initiative and has been awarded the 2008 SAM Silver Sustainability Recognition.
About Alcatel-Lucent
Alcatel-Lucent (Euronext Paris and NYSE: ALU) is the trusted partner of service providers, enterprises and governments worldwide, providing solutions that deliver voice, data and video communication services to end-users. A leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent leverages the unrivalled technical and scientific expertise of Bell Labs, one of the largest innovation powerhouses in the communications industry. With operations in more than 130 countries and the most experienced global services organization in the industry, Alcatel-Lucent is a local partner with a global reach. Alcatel-Lucent achieved revenues of Euro 17.8 billion in 2007 and is incorporated in France, with executive offices located in Paris. For more information, visit Alcatel-Lucent on the Internet: http://www.alcatel-lucent.com/
Alcatel-Lucent
CONTACT: Regine Coqueran, +33-0-1-40-76-49-24, regine.coqueran@alcatel-lucent.com, or Alix Cavallari, +33-0-1-40-76-16-58, alix.cavallari@alcatel-lucent.com, both for Alcatel-Lucent; Investor Relations: Remi Thomas, +33-0-1-40-76-50-61, remi.thomas@alcatel-lucent.com, or Tom Bevilacqua, +1-908-582-7998, bevilacqua@alcatel-lucent.com, or Tony Lucido, +33-0-1-40-76-49-80, alucido@alcatel-lucent.com, or Don Sweeney, +1-908-582-6153, dsweeney@alcatel-lucent.com, all for Alcatel-Lucent
Web Site: http://www.alcatel-lucent.com/
CTG Logistics Solutions Is the First Voice Technology Provider to Qualify the New CK3 Rugged Mobile Computer by Intermec Technologies Corporation
BUFFALO, N.Y., Nov. 10 /PRNewswire/ -- CTG Logistics Solutions, a business unit of CTG , an international information technology (IT) solutions and services company, announced today that its CTGTALK(TM) Voice Productivity Solutions software, powered by CTG's Vulcan Voice, is the first voice technology software qualified to support speech recognition and voice synthesis for the new Intermec CK3 rugged mobile computer. In addition to the CK3, CTGTALK is compatible with the entire family of Intermec products, including the CV60, CV30, CN3, CK60, and CK61.
The compact and rugged Intermec CK3 mobile computer was specifically designed for warehouse operations and incorporates many capabilities previously unavailable in one device, including:
-- 1D and 2D barcode scanning, both up-close and far-away, in any
orientation and under varied lighting conditions. Offers unmatched
performance on poor quality and damaged barcodes.
-- 802.11a/b/g Wireless LAN Radio with Cisco(R) Compatible Extensions
(CCX) certification
-- VoIP communications supported
-- Speech recognition capable
-- Bluetooth(R) radio communications
-- Handheld or "gun" deployment formats
-- RFID Reader option
-- Support for a line of compatible Intermec mobile printers
"After weeks of rigorous testing in many acoustic environments, CTG Logistics Solutions is pleased to be the first provider of voice solutions able to support the latest cutting edge mobile device by Intermec Technologies," Michael Colson, Senior Vice President, IT Solutions of CTG, said. "Our CTGTALK Voice Productivity Solution Team has qualified the Intermec CK3 for use with CTG's high volume voice picking software for the warehouse and stockyard. CTG already has speech-enabled CK3 units ready to ship to customers on demand. We are also pleased to add the CK3 to the full line of Intermec products that have been speech-enabled by CTG."
CTG Logistics Solutions is a leading provider of logistics, mobile, and voice solutions with extensive experience in warehouse, yard, and distribution center automation. Its speech-enabled software suite, CTGTALK supports mobile business applications across diverse industries and the most rigorous environments. CTG Logistics Solutions has delivered enhanced automation and mobility to hundreds of warehouse and distribution facilities ranging from less than 20,000 square feet to over one million square feet, both in North America and Europe.
Backed by over 40 years' experience, CTG provides IT solutions and services to help our clients use technology as a competitive advantage to excel in their markets. CTG combines in-depth understanding of our clients' businesses with a full range of integrated offerings, best practices, and proprietary methodologies supported by an ISO 9001:2000-certified management system. Our IT professionals based in an international network of offices in North America and Europe have a proven track record of delivering high-value, industry-specific solutions. CTG serves companies in several industries and is a leading provider of IT and business consulting solutions to the healthcare market. CTG posts news and other important information on the Web at http://www.ctg.com/.
This document contains certain forward-looking statements concerning the Company's current expectations as to future growth. These statements are based upon a review of industry reports, current business conditions in the areas where the Company does business, the availability of qualified professional staff, the demand for the Company's services, and other factors that involve risk and uncertainty. As such, actual results may differ materially in response to a change in such factors. Such forward-looking statements should be read in conjunction with the Company's disclosures set forth in the Company's 2007 Form 10-K and Management's Discussion and Analysis section of the Company's 2007 annual report, which are incorporated by reference. The Company assumes no obligation to update the forward-looking information contained in this release.
Today's news release, along with CTG news releases for the past year, is available on the Web at http://www.ctg.com/.
(CTGX-G)
CONTACTS:
Chris Barnes, CTG Logistics Solutions
(770) 331-3908
Chris.Barnes@ctg.com
Richard Dye, CTG Marketing Communications
(716) 887-7244
Richard.Dye@ctg.com
CTG Logistics Solutions
CONTACT: Chris Barnes, CTG Logistics Solutions, +1-770-331-3908, Chris.Barnes@ctg.com, or Richard Dye, CTG Marketing Communications, +1-716- 887-7244, Richard.Dye@ctg.com
Web site: http://www.ctg.com/
Company News On-Call: http://www.prnewswire.com/comp/198025.html
Agilysys Fiscal 2009 Second Quarter Conference Call to be Broadcast Live Over the Internet
CLEVELAND, Nov. 10 /PRNewswire-FirstCall/ -- Agilysys, Inc. , a leading provider of innovative IT solutions, today announced it will release fiscal 2009 second quarter summary financial information before the market opens on Thursday, Nov. 20, 2008. The news release will be followed by a conference call at 11 a.m. ET, which will be broadcast live over the Internet and will be accessible from the Investor Relations section of http://www.agilysys.com/. In addition, a replay of the call will be archived on the Web site.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO )
About Agilysys, Inc.
Agilysys is a leading provider of innovative IT solutions to corporate and public-sector customers, with special expertise in select markets, including retail and hospitality. The company uses technology - including hardware, software and services - to help customers resolve their most complicated IT needs. The company possesses expertise in enterprise architecture and high availability, infrastructure optimization, storage and resource management, identity management and business continuity; and provides industry-specific software, services and expertise to the retail and hospitality markets. Headquartered in Cleveland, Agilysys operates extensively throughout North America, with additional sales offices in the United Kingdom and China. For more information, visit http://www.agilysys.com/.
Investor contact:
Curtis Stout
Vice President and Treasurer
Agilysys, Inc.
440-519-8635
curtis.stout@agilysys.com
Media contact:
Shawn Turner
Communications Manager
Agilysys, Inc.
440-519-8627
shawn.turner@agilysys.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Agilysys, Inc.
CONTACT: Investor contact: Curtis Stout, Vice President and Treasurer, +1-440-519-8635, curtis.stout@agilysys.com, or Media contact: Shawn Turner, Communications Manager, +1-440-519-8627, shawn.turner@agilysys.com, both of Agilysys, Inc.
Web site: http://www.agilysys.com/
AVEVA Opens Latin America Office in Brazil
HOUSTON, Texas, November 10 /PRNewswire-FirstCall/ -- AVEVA , the leading supplier of engineering IT systems for the plant and marine industries, today announced further expansion into Latin America with the opening of AVEVA do Brasil in Rio de Janeiro. This office, the latest in AVEVA's expanding global platform, will provide premium product solutions and support for its growing customer base in Brazil, including the country's leading energy company.
Richard Longdon, Chief Executive of AVEVA Group, said, "As we look to the future of global energy and infrastructure development, we are continuing our strategy of increasing our presence in the BRICs - Brazil, Russia, India and China. Undoubtedly, it is an opportune time for our further expansion into the Latin American.
"Brazil has huge opportunity as well as the excitement of the recent pre-salt discoveries. AVEVA's principal goal is to provide premier product solutions backed by local support and service to our customers around the world. Our expanding operations in Latin America are a clear signal of our commitment to our customers in the region. Further, it highlights the strength and growth of the energy industry in the region."
AVEVA serves customers throughout the Latin American region - including Mexico, Chile, Venezuela, Columbia, Argentina and Peru. In Brazil, AVEVA has been serving customers for 10 years. Today, the country accounts for more than 20 percent of AVEVA's revenue for their Americas region.
"We work closely with more than 50 customers in the oil and gas, mining, paper and pulp industries in Brazil," said Santiago Pena, AVEVA's vice president of Latin America. "Our new office allows us to strengthen those relationships and to continue to provide world-class technology and support that they have come to rely upon."
The office in Rio is strategically located, providing easy access to customers, as well as engineering contractors serving the oil and gas market.
http://www.aveva.com/
AVEVA
CONTACT: The Brazil offices can be found at: AVEVA do Brasil Informatica Ltda.Torre Rio Sul - Rua Lauro Muller, 116 - sala 902 - Botafogo - RJ, Cep: 22-290-160, +55(21)8159-9290, +55(21)8159-9291; For more information: Danielle Allen,Edelman for AVEVA, +1-512-634-3653, danielle.allen@edelman.com
Protiviti Webinar to Focus on Convergence of Enterprise Performance Management and Risk ManagementNovember 13 webinar presents integrated approach to create and protect shareholder value in a changing operating environment
MENLO PARK, Calif., Nov. 10 /PRNewswire/ --
WHAT: Whether a company is growing rapidly or focusing on establishing
sustainable competitive advantage, or both, an integrated
approach that aligns strategy, risk management capabilities and
performance management processes will improve an organization's
probability of achieving critical business objectives.
Experts from Protiviti -- a global business consulting and
internal audit firm -- will conduct a complimentary webinar
titled "The Convergence of Enterprise Performance Management and
Risk Management." During the hour-long session, they will share
Protiviti's new Performance/Risk Integration Management Model
(PRIM2) and cover how companies can:
-- Create real-time transparency in an organization's operations
-- Identify and mitigate the risks inherent in a corporate
strategy
-- Communicate and deploy a strategy in a consistent manner
across the enterprise
-- Ensure the seamless integration of strategic plans, risk
management and performance management.
WHEN: Thursday, November 13, 11:00 a.m. PST/ 2:00 p.m. EST
WHO: James DeLoach, Managing Director and Global GRC Solutions Leader,
Protiviti
Carl Waller, Managing Director and Global Finance Transformation
Solutions Leader Protiviti
HOW: Register for this webinar by November 12 at primmwebinar (http://www.protiviti.com/portal/site/pro- us/?pgTitle=Event%20Registration&file_name=/AboutUs/Events/11_13_08_convergenc e_enterprise.html&id=press).
(Logo: http://www.newscom.com/cgi-bin/prnh/20051101/SFTU041LOGO)
Photo: http://www.newscom.com/cgi-bin/prnh/20051101/SFTU041LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Protiviti
CONTACT: Kathy Keller of Protiviti, +1-650-234-6252, kathy.keller@protiviti.com
Web site: http://www.rhii.com/ http://www.protiviti.com/
SAI Global Partners with ISSA North Texas Chapter
PLAINSBORO, N.J., Nov. 10 /PRNewswire-FirstCall/ -- SAI Global, a leading provider of governance, risk and compliance (GRC) solutions, has partnered with the Information Systems Security Association, Inc. (ISSA) to increase parental awareness about internet safety for children.
The joint project utilizes SAI Global's interactive, activity-based learning product, the Rocket Launch Infogram, to guide parents through discussions with their children about Internet Safety. Delivered via DVD, the Internet Safety for Children project provides necessary information to parents for instruction on the possible dangers that exist on the Internet.
"SAI Global values our partnership with ISSA and appreciates the opportunity to support them on this important project with opportunities to impact families throughout northern Texas," said Andy Wyszkowski, Global Head of Compliance for SAI Global. "We share ISSA's dedication in providing resources to raise security and data privacy consciousness."
The project addresses the types of information children may access, what they're revealing about themselves and the precautions parents should take to prepare children for the cyber world. "This is a slight departure from the work we're currently doing," says Kenneth Do of PepsiCo Information Security Group (ISG) and Treasurer for the ISSA North Texas Chapter. "However, news reports indicate the urgency of the problem and together with SAI Global we were able to use our expertise to create an overall awareness."
ISSA will release the DVD at the Secure World Conference this week in Dallas, Texas.
Media Inquiries
Tia Smallwood, SAI Global, tia.smallwood@saiglobal.com, phone (609) 955-5135.
About SAI Global Compliance
SAI Global (http://saiglobal.com/compliance) assists legal, compliance, ethics, risk management, privacy and information security professionals bring focus to and manage risk in their organizations. SAI Global's governance, risk and compliance technology, and advisory and training solutions include risk analysis, program management, award winning and engaging Web-based training programs, newsfeeds, GRC management systems, benchmarking data and global legislative and regulatory databases.
About ISSA North Texas Chapter
The goal of the Information Systems Security Association, Inc. is to promote management practices that will ensure the confidentiality, integrity and availability of organizational information resources. The ISSA is dedicated to providing resources to such people and organizations, as well as to generally raising the level of security and data privacy consciousness among information systems personnel in all organizations. The North Texas chapter (http://issa-northtexas.org/) is a local resource to be used by members and non-members alike.
Sai Global
CONTACT: Tia Smallwood of SAI Global, +1-609-955-5135, tia.smallwood@saiglobal.com
Web Site: http://www.saiglobal.com/compliance
CACI Awarded $60 Million Contract to Support Airborne Sensors for U.S. Army Night Vision and Electronic Sensors DirectorateExpands Business With Directorate in C4ISR Core Competency
ARLINGTON, Va., Nov. 10 /PRNewswire-FirstCall/ -- CACI International Inc announced today that it has been awarded a $60 million prime contract to continue the development, maintenance, and operation of experimental airborne sensors for the U.S. Army's Research Development and Engineering Command (RDECOM) Communications-Electronics Research Development and Engineering Center (CERDEC) Night Vision and Electronic Sensors Directorate (NVESD). CACI received the competitive three-year award under its Strategic Services Sourcing (S3) contract with the U.S. Army. The award increases both the size and scope of CACI's existing airborne sensors business with NVESD and strengthens the company's functional core competency in C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance).
NVESD researches and develops advanced night vision and other sensor technologies, such as infrared weapon sights, surveillance systems, and systems that enhance the soldier's ability to operate at night and during limited visibility conditions. CACI's support focuses on airborne sensors developed for fixed wing and rotary wing aircraft, with increased emphasis on sensors designed for use on unmanned aerial vehicles (UAVs).
CACI's services include engineering, development, systems integration, and test and evaluation of sensor systems. The company will provide quick reaction and rapid prototyping to ensure systems are developed on time and fielded quickly to meet high-priority wartime requirements.
According to Bill Fairl, CACI's President of U.S. Operations, "CACI's support for airborne sensors ensures the protection of warfighters and provides operational superiority in battlefield situations. Our solutions enable us to help the Night Vision and Electronic Sensors Directorate give the warfighter an advantage in nighttime environments, as well as during military operations in urban terrain, where CACI-supported sensor systems provide the ability to counteract excessive glare from artificial lighting."
CACI President and CEO Paul Cofoni said, "CACI is proud to expand our service to the U.S. Army's RDECOM CERDEC Night Vision and Electronic Sensors Directorate. This award demonstrates the continued confidence the Directorate has that CACI provides valuable and reliable solutions, on schedule and within budget. We are committed to using all the resources at our disposal to support the development and delivery of systems that directly serve our warfighters and advance the government's most critical priorities in countering global terrorism."
CACI International Inc provides the professional services and IT solutions needed to prevail in today's defense, intelligence, homeland security, and federal civilian government arenas. We deliver enterprise IT and network services; data, information, and knowledge management services; business system solutions; logistics and material readiness; C4ISR integration services; cyber security, information assurance, and information operations; integrated security and intelligence solutions; and program management and SETA support services. CACI services and solutions help our federal clients provide for national security, improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. We add value to our clients' operations, increase their skills and capabilities, and enhance their missions. CACI is a member of the Fortune 1000 Largest Companies of 2007 and the Russell 2000 index. CACI provides dynamic careers for approximately 12,300 employees working in over 120 offices in the U.S. and Europe. CACI is the IT provider for a networked world. Visit CACI on the web at http://www.caci.com/.
There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the following: regional and national economic conditions in the United States and the United Kingdom, including conditions that result from terrorist activities or war; changes in interest rates; currency fluctuations; failure to achieve contract awards in connection with recompetes for present business and/or competition for new business; the risks and uncertainties associated with client interest in and purchases of new products and/or services; continued funding of U.S. government or other public sector projects, based on a change in spending patterns, or in the event of a priority need for funds, such as homeland security, the war on terrorism or rebuilding Iraq; government contract procurement (such as bid protest, small business set asides, etc.) and termination risks; the results of government investigations into allegations of improper actions related to the provision of services in support of U.S. military operations in Iraq; individual business decisions of our clients; paradigm shifts in technology; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); material changes in laws or regulations applicable to our businesses, particularly in connection with (i) government contracts for services, (ii) outsourcing of activities that have been performed by the government, (iii) competition for task orders under Government Wide Acquisition Contracts ("GWACs") and/or schedule contracts with the General Services Administration; and (iv) accounting for convertible debt instruments; our own ability to achieve the objectives of near term or long range business plans; and other risks described in the company's Securities and Exchange Commission filings.
Corporate Communications and Media:
Jody Brown, Executive Vice President, Public Relations
(703) 841-7801, jbrown@caci.com
Investor Relations:
David Dragics, Senior Vice President, Investor Relations
(866) 606-3471, ddragics@caci.com
CACI International Inc
CONTACT: Corporate Communications and Media: Jody Brown, Executive Vice President, Public Relations, +1-703-841-7801, jbrown@caci.com, or Investor Relations: David Dragics, Senior Vice President, Investor Relations, +1-866-606-3471, ddragics@caci.com, both of CACI International Inc
Web Site: http://www.caci.com/
1-800-THE-INFO's 'Rock My Room' Promo Gives Six Lucky Winners a Bonus for CallingWinners Randomly Selected From Thousands of Callers; Grand Prize Includes iPOD Touch, Bose SoundDock Digital Music System, Flat Screen TV, Laptop Personal Computer and $500 American Express Gift Card
NEW YORK, Nov. 10 /PRNewswire/ -- The information service 1-800-THE-INFO on Monday (Nov. 10) awarded six prizes for Rock My Room, a six-week promotion geared to college students. The free business-directory-assistance service, which offers thousands of local business listings to callers, offered prizes to six randomly selected callers who used the service between Aug. 14 and Sept. 30.
"We knew that thousands of students and other consumers would warm to the business-search options offered by 1-800-THE-INFO, and we weren't disappointed," said Verizon Marketing Director Trudy Adams. "Among the thousands who called during the promotion period, there were a lucky few who won great prizes."
Callers to 1-800-THE-INFO could use the service as many times as they wanted daily, and one call each day from the same phone number was entered in the contest.
The prize winners are:
1. Grand Prize - iPod Touch w/Bose SoundDock Digital Music System, 32-inch
flat screen TV, laptop computer and a $500 American Express gift card
C. Yost - Eau Claire, Pa.
1. 1st prize - $500 Target gift card
S. Peoples- State University, Ark.
1. 2nd place - $250 Target gift card
M. Hunter, Wesley Chapel, Fla.
1. 3rd place - iHome clock radio for iPod
R. Vissal, Passaic, N.J.
1. 4th place - $75 gift certificate to iTunes
T. Gambrill, Rockville, Md.
1. 5th place - $50 American Express gift card
A. Perkins, New Carrollton, Md.
1-800-THE-INFO launched its voice-activated local business directory assistance search in March. Callers hear a brief advertisement and then are able to use the free automated voice-recognition search of Verizon's national directory database. The search is backed up by live operators so that callers are assured of immediate and accurate results for their requests.
For more information on the service, visit http://www.800theinfo.com/.
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 71 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 228,000 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: Kevin Laverty of Verizon, +1-425-261-5855, kevin.laverty@verizon.com
Web Site: http://www.800theinfo.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
The Boston Globe Names TripAdvisor and Smarter Travel Media to Globe 100's Top Places to Work
NEWTON, Mass. and BOSTON, Nov. 10 /PRNewswire/ -- TripAdvisor(R) and Smarter Travel Media have been named to the Globe 100 Top Places to Work in Massachusetts in the debut of an employee-based survey project from The Boston Globe. TripAdvisor employs 243 in Newton and Smarter Travel Media employs 97 in Charlestown.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080902/TRIPADVISORLOGO )
"TripAdvisor and Smarter Travel employees love what they do -- helping millions of travelers plan and have the perfect trip," said Steve Kaufer, CEO of the TripAdvisor Media Network. "I'm so gratified that in building great companies, we've also built teams that thrive on the challenges of building great products and providing a great service to travelers."
Both TripAdvisor and Smarter Travel continue to hire aggressively, particularly in the computer sciences, to support rapid growth and global expansion. The TripAdvisor Media Network is a collection of 12 travel media brands, including TripAdvisor and the companies that comprise Smarter Travel Media.
The Top Places to Work recognizes the most progressive companies in Massachusetts based on employee opinions about company leadership, compensation and training, diversity/inclusion, career development, family-friendly flexibility, and values and ethics. Private companies and nonprofits as well as publicly-held businesses were included in the analysis.
The publisher of The Boston Globe Steve Ainsley stated, "All the companies included in the Globe 100's Top Places to Work deserve a great deal of recognition. It's clear that they value their employees and make it a priority to create a positive workplace."
To qualify for the Globe 100's Top Places to Work, a company must have more than 100 employees in Massachusetts. Rankings were composite scores calculated purely on the basis of employee responses.
About TripAdvisor Media Network
TripAdvisor(R) Media Network, operated by TripAdvisor LLC, attracts more than 32 million monthly visitors* across 12 popular travel brands: TripAdvisor(R), http://www.airfarewatchdog.com/, http://www.bookingbuddy.com/, http://www.cruisecritic.com/, http://www.holidaywatchdog.com/, http://www.independenttraveler.com/, http://www.onetime.com/, http://www.seatguru.com/, http://www.smartertravel.com/, http://www.travel-library.com/, http://www.travelpod.com/ and http://www.virtualtourist.com/. TripAdvisor-branded sites make up the largest travel community in the world, with more than 25 million monthly visitors*, nine million registered members and 20 million reviews and opinions. Featuring real advice from real travelers, TripAdvisor-branded sites cover 300,000+ hotels and attractions and operate in the U.S. (http://www.tripadvisor.com/), the U.K. (http://www.tripadvisor.co.uk/), Ireland (http://www.tripadvisor.ie/), France (http://www.tripadvisor.fr/), Germany (http://www.tripadvisor.de/), Italy (http://www.tripadvisor.it/), Spain (http://www.tripadvisor.es/), India (http://www.tripadvisor.in/) and Japan (http://www.tripadvisor.jp/). TripAdvisor(R) Media Network provides travel suppliers with graphical advertising opportunities and a cost-per-click marketing platform. Collectively, the sites comprising the TripAdvisor Media Network have won hundreds of awards and accolades from press and industry worldwide. TripAdvisor and the sites comprising the TripAdvisor Media Network are operating companies of Expedia, Inc. .
About Smarter Travel Media LLC
Smarter Travel Media sites attract a combined audience of over 4 million monthly visitors* and cover over 6.3 million newsletter subscriptions. Travel brands include BookingBuddy(R), SmarterTravel(R), AirfareWatchdog.com(TM) and FrequentFlier.com. Smarter Travel Media provides travel suppliers with display advertising opportunities and a cost-per-click marketing platform. Smarter Travel Media is a subsidiary of the TripAdvisor(R) Media Network and an operating company of Expedia, Inc.
TripAdvisor is a registered trademark of TripAdvisor LLC in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.
*Source: comScore Media Metrix, July 2008
Photo: http://www.newscom.com/cgi-bin/prnh/20080902/TRIPADVISORLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
TripAdvisor LLC
CONTACT: Brian Payea of TripAdvisor LLC, +1-617-670-6688, bpayea@tripadvisor.com
Web Site: http://www.tripadvisor.com/
TransTech Services Partners Inc. Announces Election of Dr. Ranga C. Krishna as a Director
NEW YORK, Nov. 10 /PRNewswire-FirstCall/ -- TransTech Services Partners Inc. (BULLETIN BOARD: TTSPU) announced today that its Board of Directors elected Dr. Ranga C. Krishna as a director at its board meeting held last Friday. Krishna is a licensed neurologist and an experienced health care entrepreneur, having started several companies. Among them is International Pharma Trials, Inc., a company which assists U.S. pharmaceutical companies perform Phase II clinical trials in India. He also co-founded Fastscribe, Inc., an internet-based medical and legal transcription company with operations in India. Dr. Krishna is a member of several organizations, including the American Academy of Neurology and the Medical Society of the State of New York. He is also a member of the Medical Arbitration panel for the New York State Workers' Compensation Board. Dr. Krishna was trained at New York's Mount Sinai Medical Center (1991-1994) and New York University (1994-1996). Dr. Krishna currently serves as Chairman and Audit Committee Chairman of India Globalization Capital, Inc., a Special Purpose Acquisition Corporation that has invested in the infrastructure sector in India.
TransTech Services Partners Inc., is a Business Combination Company(TM) formed for the purpose of acquiring, through merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination, a business in the business service industry. TransTech initially intends to focus on one or more small- to mid-market U.S. and/or European based operating companies engaged in the delivery of Information Technology and Information Technology Enabled Services, Business Process Outsourcing and/or Knowledge Process Outsourcing, whose operations are particularly suitable for operational and productivity improvements, which would include leveraging delivery centers located in offshore countries, such as India.
TransTech Services Partners Inc.
CONTACT: LM Singh, Chief Financial Officer and Vice President, TransTech Services Partners Inc., +1-212-696-5977, lmsingh@usa.net
Fushi Copperweld Announces Reporting Date for Third Quarter 2008 Earnings Results
DALIAN, China, Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- Fushi Copperweld, Inc. , the leading global manufacturer and innovator of copper- clad bimetallic wire used in a variety of telecommunication, utility, automotive and other electrical applications, today announced that the Company will report its third quarter 2008 financial results before the market opens on Thursday, November 13, 2008.
Management will host a conference call at 8:30am ET on Thursday, November 13, 2008.
Listeners may access the call by dialing +1-480-629-9039. To listen to the live webcast of the event, please go to http://www.fushicopperweld.com/ and click on the Calendar of Events link located in the Investor Relations section of our website. Please go to the website 15 minutes early to download and install any necessary audio software.
A replay of the call will be available from November 13, 2008 to December 14, 2008. Listeners may access the replay by dialing +1-303-590-3030; passcode: 3942239.
About Fushi Copperweld
Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co, Ltd., and Copperweld Bimetallics, LLC, is the leading manufacturer and innovator of copper-cladded bimetallc engineered conductor products used in the electrical, telecommunications, automotive and industrial industries. With extensive design and production capabilities and a long-standing dedication to customer service, Fushi Copperweld, Inc. is the preferred choice bimetallics products world-wide. For more information on Fushi Copperweld, visit the Company's website: http://www.fushicopperweld.com/ .
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward- looking statements can be identified by the use of forward-looking terminology such as "will" "believes," "expects" or similar expressions. These forward- looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov/ .
For more information, please contact:
Fushi Copperweld, Inc.
Nathan Anderson
Director of Investor Relations
Email: IR@fushicopperweld.com
ICR, Inc.
Bill Zima & Ashley Ammon
Tel: +1-203-682-8200
Fushi Copperweld, Inc.
CONTACT: Nathan Anderson, Director IR & Corporate Development at ir@fushicopperweld.com, or Bill Zima & Ashley Ammon, ICR, Inc. at +1-203-682- 8200 for Fushi Copperweld
Web site: http://www.fushicopperweld.com/
Superordinateur à un prix Abordable
SAN JOSE, California, November 10 /PRNewswire/ --
- Superordinateur Supermicro au meilleur rapport efficacité-prix en
production de volume
Super Micro Computer, Inc. (Nasdaq: SMCI), un leader de l'application
optimisée, des solutions serveurs haute performance, a annoncé aujourd'hui
l'ajout du plus abordable des superordinateurs personnels à sa famille
SuperBlade(R). Le nouveau système serveur 10-lames de Supermicro qui s'appuie
sur serveur lame le SBI-7125C-T3 apporte la solution lame au meilleur rapport
qualité-prix de l'industrie, tout en étant à la fois le plus écologique des
superordinateurs personnels et des solutions bureautiques. En s'appuyant sur
l'architecture des Server Building Block Solutions(R) de Supermicro, le
SBI-7125C-T3 peut aussi optimiser les configurations à 14-lames qui sont
idéales pour les HPC et les applications en centres de données.
<< Notre nouvelle solution SuperBlade(R) est un superordinateur au
meilleur rapport qualité-prix. A présent, nos clients peuvent se permettre de
s'équiper, à un prix abordable, d'un superordinatur personnel à côté de leurs
bureaux qui dispose de la même capacité que auparavant seulement disponible
via de important volume d'installations de serveurs", a dit Charles Liang,
PDG de Supermicro.
"Ces solutions lames optimisées présentent 93% d'efficacité électrique,
un système de refroidissement au design innovant et un système thermique très
efficace, une performance-par-watt leader dans l'industrie (290+ GFLOPS/kW*),
en faisant la plus écologique, et la plus économe des solutions lames en terme
de consommation d'énergie".
A un prix abordable, le très performant SuperBlade(R) minimise les coûts
d'exploitation afin d'apporter le meilleur coût total de propriété (TCO) des
solutions disponibles. Cette solution va particulièrement avantager les
clients qui ont un budget limité mais ont besoin d'une solution informatique
de haute performance.
Ce superordinateur est idéal pour les scientifiques et les chercheurs en
science et vie, bioinformatique, physique, chimie et autres domaines
similaires de l'ingénierie et des sciences. Un exemple d'un large déploiement
du système SuperBlade(R) est celui du prestigieux laboratoire de Genève, en
Suisse, le CERN, qui a choisi SuperBlade(R) afin de valoriser ses
infrastructures informatiques pour son monumental projet Large Hadron
Collider (LHC).
Les solutions Server Building Block Solutions(R) de Supermicro offrent
une souplesse exceptionnelle et des avantages ergonomiques incomparables.
Pour plus d'informations sur la gamme complete des solutions serveurs et de
poste de travail de Supermicro, rendez-vous sur www.supermicro.com.
Concernant Super Micro Computer, Inc. (NASDAQ: SMCI)
Etabli en 1993, Supermicro s'est concentrée sur la conception de produits
au design supérieur et sur la mise en place d'un contrôle qualité rigoureux
afin de produire des cartes mères, chassis, et serveurs de haut gamme. Ses
modules de serveurs apportent des bénéfices dans de nombreux domaines,
incluant des centre de bases de données, des calculs intensifs, des stations
graphiques de haute niveau, de stockage et installations de serveurs. Pour
plus d'informations sur la gamme complète des cartes mères, superserveurs, et
chassis Supermicro, veuillez consulter le site www.supermicro.com, ou écrire
à l'adresse suivante : marketing@supermicro.com ou encore téléphoner au
+1-408-503-8000, ligne standard du siège Supermicro à San Jose CA USA.
SMCI-F
Supermicro est les solutions de modules de serveurs Supermicro sont des
marques déposées et SuperBlade est une marque déposée de Super Micro Inc.
D'autre noms et marques sont la propriété de leur possesseur respectif.
*mention du pic d'efficacité énergétique et performance basé sur
résultats de testes internes.
Super Micro Computer, Inc.
Michael Kalodrich, Super Micro Computer, Inc., +1-408-503-8063, michaelk@supermicro.com
NeXplore Corporation Releases Fiscal Year Unaudited Financial Information
FRISCO, Texas, Nov. 10 /PRNewswire-FirstCall/ -- NeXplore Corporation (Pink Sheets: NXPC) today announced that it has made unaudited financial statements for NeXplore Corporation's fiscal year ending June 30, 2008 available to investors and the general public in the Investors section on the Company's website (http://www.nexplorecorporation.com/) and on Pink Sheets Electronic OTC Markets (http://www.pinksheets.com/).
In accordance with NeXplore Corporation's policy of providing shareholders with an annual financial report, the Company is currently undergoing an audit of the fiscal year ending June 30, 2008 and expects to make audited annual financial statement available to all shareholders in approximately thirty (30) days.
About NeXplore Corporation
NeXplore Corporation improves the online experience by providing Web tools and destinations that empower people to drive and define a World Wide Web perfectly suited for their unique needs, interests and online pursuits. For advertisers, NeXplore offers a full array of search, display and interactive advertising products to reach and engage targeted consumers. For more information about NeXplore, visit http://www.nexplorecorporation.com/.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: our ability to commercialize a proprietary product, our ability to generate product sales and operating profits, potential vulnerability of technology obsolescence, potential competitive products by better capitalized companies, potential difficulty in managing growth, dependence on key personnel, and other risks which will be described in future company Securities and Exchange Commission filings.
NeXplore Corporation
CONTACT: Investors, Steven Hooser, +1-972-458-8000, shooser@HalliburtonIR.com, for NeXplore Corporation
Web Site: http://www.nexplorecorporation.com/ http://www.pinksheets.com/
/C O R R E C T I O N -- Semiconductor Manufacturing International Corporation/
In the news release, ""Datang Holdings to Invest US$172 Million in SMIC" - Webcast Conference Call SMIC ", issued today by Semiconductor Manufacturing International Corporation over Xinhua PRNewswire, we are advised by the Company that in the New York conference call time should have been "Monday, November 10th, 2008 EST" and not "Wednesday, November 10th..." as originally issued inadvertently.
Semiconductor Manufacturing International Corporation
Web site: http://www.smics.com/
eDiets.com(R) to Report Third Quarter 2008 Results on Thursday, November 13, 2008Company will host Conference Call on Friday, November 14th
FORT LAUDERDALE, Fla., Nov. 10 /PRNewswire-FirstCall/ -- eDiets.com, Inc. , a leading provider of convenient at-home diet, fitness and healthy lifestyle solutions, today announced that it will report results for its third quarter ended September 30, 2008, after the U.S. equity markets close on Thursday, November 13, 2008.
The company will also host a conference call for investors the following day, Friday, November 14, beginning at 8:30 a.m. Eastern Time. Participants may access the call by dialing 866-383-7998 (domestic) or 617-597-5329 (international), passcode 78829183. In addition, the call will be webcast via the company's Web site at http://www.ediets.com/ , Investor Relations, where it will also be archived. A telephone replay will be available through Friday, November 28, 2008. To access the replay, please dial 888-286-8010 (domestic) or 617-801-6888 (international), passcode 76889991.
About eDiets
eDiets.com, Inc. is a leading provider of personalized nutrition, fitness and at home weight-loss programs. eDiets currently features its award-winning, fresh-prepared diet meal delivery service as one of the more than 20 popular diet plans sold directly to members on its flagship site, eDiets.com. The company also provides a broad range of customized wellness and weight management solutions for Fortune 500 clients. eDiets.com's unique infrastructure offers businesses, as well as individuals, an end-to-end solution strategically tailored to meet its customers' specific goals of achieving a healthy lifestyle. For more information, please call 310-954-1105 or visit http://www.ediets.com/ .
eDiets.com, Inc.
CONTACT: John Mills, +1-310-954-1105, John.Mills@icrinc.com, for eDiets.com, Inc.
Web site: http://www.ediets.com/
Line 6 Announces Unlock Code to Access Additional POD(R) Guitar Technology in Guitar Hero(R) World Tour Music StudioUnlock Code Will Give Gamers More Access to the Same Guitar Processing Technology Used By Professional Musicians
CALABASAS, Calif., Nov. 10 /PRNewswire/ -- Line 6, Inc. announced today that the cheat code to unlock Line 6's POD(R) technology in Activision Publishing, Inc.'s Guitar Hero(R) World Tour for the Xbox 360(R) video game and entertainment system from Microsoft and PLAYSTATION(R)3 computer entertainment system is now available at http://www.line6.com/gh. The recently released Xbox 360 and PS3 versions of the in-demand music game integrate Line 6's guitar tone technology, enabling players to use amps, cabs and effects from the world-renown Line 6 POD in the game's Music Studio.
The sound modeling technology of Line 6's POD, which is integrated into Guitar Hero World Tour's innovative new Music Studio, allows gamers to now join the ranks of elite POD using bands including U2, Radiohead, Keane, Muse, Nine Inch Nails, Story of the Year, Slipknot, Dashboard Confessional, Alice in Chains, Stone Temple Pilots, Garbage, Lenny Kravitz and countless others. The game's Music Studio lets players express their musical creativity by giving them access to a full complement of tools to compose, record and edit their own rock 'n' roll anthems and then share their recordings with friends through a new online community, GHTunesSM.
The signature sounds of legendary bands and top musicians today come from a combination of guitar amps, cabs and effects. Through digital signal processing, POD delivers accurate emulations of the most coveted amplifiers, effects and cabinets ever made. It is famous for revolutionizing the way guitarists record, perform, rehearse, and write songs and it eliminates the need for complicated setups with its proprietary technology for simulating the complex interaction of amplifiers, effects, microphones, speaker cabinets and room acoustics. Whether POD is used with headphones to practice, for direct recording or playing live, POD is what musicians turn to for the best guitar sound.
"Line 6 strives to push the boundaries, from revolutionizing the way guitarists record to how they perform live to helping enable the creative process for musicians," said Marcus Ryle, Line 6 Founder and SVP of Research and Development. "Thanks to the incredible processing power of the next-generation video game consoles, we placed the actual tone algorithms into Guitar Hero World Tour to give players the tools to choose their own sounds for the music they create. For the first time, gamers will have the ability to compose and record with the same technology used by professional musicians."
The unlock code, as well as artist videos, Music Studio inspiration and more, are now available at http://www.line6.com/gh.
Guitar Hero World Tour transforms music gaming by expanding Guitar Hero's signature guitar gameplay into a cooperative band experience that combines the most advanced wireless controllers with new revolutionary online* and offline gameplay modes. Featuring a slick newly redesigned guitar controller, drum kit controller and a wired microphone, Guitar Hero World Tour is the most complete music game to-date with 86 on-disc tracks from music legends such as The Eagles, Van Halen, Metallica, Michael Jackson and The Doors and featuring in-game appearances by world famous artists like Ozzy Osbourne, Billy Corgan and Travis Barker.
Guitar Hero World Tour is now available for the Xbox 360 video game and entertainment system from Microsoft and PLAYSTATION3 computer entertainment system. The Wii(TM) home video game system from Nintendo version is developed by Vicarious Visions. The PlayStation(R)2 computer entertainment system version is developed by Budcat. The game is rated "T" for Teen by the ESRB. For more information on Guitar Hero World Tour, please visit http://worldtour.guitarhero.com/.
About Line 6, Inc.
Based in Calabasas, California, Line 6 is a leading manufacturer of guitars, amplifiers, effects, effects processors and recording interfaces. Line 6 is world renowned for its studio- and stage-standard gear featuring its patented digital modeling and digital wireless technologies. Line 6 invented digital guitar amp modeling technology in 1996, and is currently the #1 maker of guitar amplifiers. Its award-winning products, including POD(R), are used by musicians worldwide and have been used on countless platinum and Grammy award winning titles. Line 6 is distributed in over 60 countries with operations in the United States, China and the United Kingdom. For more information, visit http://www.line6.com/.
*Online gameplay is only available for the Xbox 360(R) video game and entertainment system from Microsoft, PLAYSTATION(R)3 computer entertainment system and Wii(TM) and may require an additional subscription.
Guitar Hero World Tour (C) 2008 Activision Publishing, Inc. Guitar Hero, Activision and RedOctane are registered trademarks of Activision Publishing, Inc. All other trademarks and trade names are the properties of their respective owners. All rights reserved.
"PlayStation", "PLAYSTATION" and "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc. Used with Permission. Microsoft, Xbox, Xbox 360, Xbox LIVE, and the Xbox logos are trademarks of the Microsoft group of companies. Wii and the Wii logo are trademarks of Nintendo.
Line 6, Inc.
CONTACT: Krista Shue of Line 6, Inc., +1-818-917-6588, kshue@line6.com
Web site: http://www.line6.com/ http://worldtour.guitarhero.com/
Court strikes Plaintiffs' claim to an injunction seeking to halt the privatization transactionCompany reiterates remaining claims are completely without merit
MONTREAL, Quebec, Nov. 10 /PRNewswire-FirstCall/ -- BCE (TSX, NYSE: BCE) today announced that the Saskatchewan Court of Queen's Bench has struck the Plaintiffs' claim to an injunction seeking to halt the privatization transaction. This claim had been made in connection with the action brought on October 27, 2008.
BCE also stated that the remaining claims asserted in this action are completely without merit, and will vigorously defend the claims in court.
Pursuant to the Definitive Agreement relating to the privatization transaction, as amended, the acquisition of the company is scheduled to close on December 11, 2008.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements relating to the proposed privatization of BCE, legal proceedings related thereto and other statements that are not historical facts. Such forward-looking statements are subject important risks, uncertainties and assumptions including, in particular, the inherent uncertainty regarding the conduct, outcome and timing of any litigation. The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, we cannot guarantee that any forward-looking statement will materialize.
The timing and completion of the proposed privatization transaction is subject to each of the parties fulfilling their commitments under the transaction documents and to a number of terms and conditions, including, without limitation, the provisions of, and certain termination rights available to the parties under, the definitive agreement dated June 29, 2007, as amended by the final amending agreement dated July 4, 2008, governing the terms of the transaction. The conditions to the transaction may not be satisfied in accordance with their terms, and/or the parties to the definitive agreement may exercise their termination rights, in which case the proposed privatization transaction could be modified, restructured or terminated, as applicable. Failure to complete the proposed privatization transaction could have a material adverse impact on the market price of BCE's shares.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on expectations of, or statements made by, third parties in respect of the proposed privatization transaction. For additional information with respect to certain of these and other assumptions and risks, please refer to BCE's 2007 annual management's discussion and analysis ("MD&A") dated March 5, 2008 included in the Bell Canada Enterprises 2007 Annual Report, BCE's 2008 First Quarter MD&A dated May 6, 2008, BCE's 2008 Second Quarter MD&A dated August 5, 2008, BCE's 2008 Third Quarter MD&A dated October 28, 2008, the definitive agreement dated June 29, 2007, as amended by the final amending agreement dated July 4, 2008, and BCE's management proxy circular dated August 7, 2007, all filed by BCE with the Canadian securities commissions (available at http://www.sedar.com/) and with the U.S. Securities and Exchange Commission (available at http://www.sec.gov/). These documents are also available on BCE's website at http://www.bce.ca/.
About BCE
BCE is Canada's largest communications company, providing the most comprehensive and innovative suite of communication services to residential and business customers in Canada. Under the Bell brand, the Company's services include local, long distance and wireless phone services, high-speed and wireless Internet access, IP-broadband services, information and communications technology services (or value-added services) and direct-to-home satellite and VDSL television services. BCE also holds an interest in CTVglobemedia, Canada's premier media company. BCE shares are listed in Canada and the United States.
BCE Inc.
CONTACT: Jacques Bouchard, Bell Media Relations, (514) 391-2007, 1-877-391-2007, jacques.bouchard1@bell.ca; Thane Fotopoulos, BCE, Investor Relations, (514) 870-4619, thane.fotopoulos@bell.ca
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