Companies news of 2009-03-05 (page 1)
Majesco Entertainment to Present at Wedbush Morgan Securities' 7th Annual NY MAC...
On2 Technologies Announces Financial Results for Fourth Quarter and Full Year 2008Revenue...
American Software Reports Preliminary Third Quarter of Fiscal Year 2009 ResultsCompany...
Logility Reports Preliminary Third Quarter of Fiscal Year 2009 ResultsOperating Earnings...
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Nokia has Filed Form 20-F for 2008 With the US Securities and Exchange Commission
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Majesco Entertainment to Present at Wedbush Morgan Securities' 7th Annual NY MAC Conference
EDISON, N.J., March 5 /PRNewswire-FirstCall/ -- Majesco Entertainment Company , an innovative provider of video games for the mass market, announced today that Jesse Sutton, Chief Executive Officer and John Gross, Chief Financial Officer will present at Wedbush Morgan Securities' 7th Annual NY MAC: Management Access Conference for Micro-Small-Mid-Cap Companies being held on March 11-12 at the Le Parker Meridien Hotel in New York, NY.
Mr. Sutton and Mr. Gross are scheduled to present on Thursday, March 12 at 2:15 p.m. Eastern Time.
A live audio webcast and presentation slides may be accessed through the investor relations portion of Majesco Entertainment's Web site, located at http://www.majescoentertainment.com/. The webcast and presentation will also be archived on the Web site for 30 days following the presentation.
About Majesco Entertainment Company
Majesco Entertainment Company is a provider of video games for the mass market. Building on 20 years of operating history, Majesco is focused on developing and publishing a wide range of casual and family oriented video games on leading console and portable systems. Product highlights include Cooking Mama(TM) and Cake Mania(R)2 for Nintendo DS(TM), and Cooking Mama World Kitchen and Jillian Michaels' Fitness Ultimatum 2009 for Wii(TM). Majesco's shares are traded on the Nasdaq Stock Market under the symbol: COOL. Majesco is headquartered in Edison, NJ and has an international office in Bristol, UK. More information about Majesco can be found online at http://www.majescoentertainment.com/.
Majesco Entertainment Company
CONTACT: Denise Roche or Christian Nery, both of Brainerd Communicators, Inc. for Majesco Entertainment Company, +1-212-986-6667
Web Site: http://www.majescoentertainment.com/
On2 Technologies Announces Financial Results for Fourth Quarter and Full Year 2008Revenue increases 23% in fiscal 2008CFO transition planned
CLIFTON PARK, N.Y., March 5 /PRNewswire-FirstCall/ -- On2 Technologies, Inc. (NYSE Alternext US: ONT), a leader in video compression solutions, today announced quarterly and annual financial results for the period ending December 31, 2008. Revenue in the fourth quarter of 2008 was $3.6 million, compared to revenue of $6.1 million in the fourth quarter of 2007 and $5.0 million in the third quarter of 2008. The year-over-year fourth quarter revenue decline was primarily due to challenging business conditions in the global semiconductor industry in which the company's Finnish subsidiary, On2 Finland, operates, while the sequential decline was due largely to normal quarter-to-quarter variability in licensing patterns. On a GAAP basis, fourth quarter net loss was ($10.2) million, or ($0.06) per share, compared to a net loss of ($1.8) million, or ($0.01) per share, in the fourth quarter of 2007. The loss was largely driven by a $7.0 million non-cash write-down of goodwill and intangible assets related to the company's On2 Finland business.
For the year 2008, revenue was $16.3 million, up 23% from $13.2 million in 2007. GAAP net loss for 2008 was ($51.2) million, or ($0.30) per share, compared to $6.9 million, or ($0.06) per share, in 2007. In 2008, the company wrote down $33.3 million in goodwill and intangible assets related to its On2 Finland operation.
Matt Frost, Chief Operating Officer and interim Chief Executive Officer of On2 Technologies said, "We are pleased with our business progress in 2008. We were particularly encouraged to see royalty revenue increase 76% in 2008, confirming growing use of our technology among a larger group of customers. In the fourth quarter we saw some normal quarter-to-quarter variability after a strong third quarter, resulting in a sequential revenue decline. Additionally, our On2 Finland operation had a weaker performance in light of the global economic recession, which has affected our semiconductor and OEM customers and partners. However, our software-based encoding solutions continue to be successful in the current economic environment. As consumers are looking for lower-cost entertainment and video content distributors look to reduce bandwidth costs, on-line video continues to grow in popularity and our solutions have demonstrated a compelling return on investment for video content producers and providers."
Frost continued, "We are pleased with the results of our recent cost-cutting efforts and we expect to see further benefits of these measures in early 2009. We are optimistic that our differentiated bandwidth- and cost-reducing technology will continue to be adopted by customers, despite - or in some cases perhaps, because of - macroeconomic conditions. Further, based on our current new business and cost-containment projections, we continue to anticipate that the Company's existing capital resources will be sufficient to satisfy our cash flow requirements for the next 12 months. We believe our more streamlined operations better position us for success in a soft economy and should provide even greater advantage when the economy improves."
On2 Technologies also announced today that it plans to appoint Wayne Boomer as Chief Financial Officer, succeeding Anthony Principe, who plans to resign this month. Mr. Boomer joins On2 from Inmedius, Inc., where he served as CFO and Vice President of Finance for over five years. In that role, he was responsible for management of finance, HR, IT, contracts and facilities worldwide. Prior to joining Inmedius, Mr. Boomer spent seven years with MapInfo Corporation in finance roles of increasing responsibility, including Director of Finance and Operations for the 140 employees working in MapInfo's Europe, Middle East and Africa region. Mr. Boomer began his career at Coopers and Lybrand, where he was a senior associate. He graduated from Siena College earning a Bachelor of Science degree in Business Administration and is a CPA.
"It has been a pleasure to work with Tony Principe for the last five years," said Matt Frost, interim Chief Executive Officer. "The Company and board of directors are grateful for his many contributions and we wish him well in his future endeavors. We are very pleased to be welcoming Wayne Boomer to On2 and are confident that the CFO transition will be a smooth process."
Fourth Quarter Business Highlights
-- Royalties increased 16% year-over-year to $820,000 in the fourth
quarter and decreased 15% sequentially. Royalties represented 23% of
revenue in the quarter, compared with 11% in the fourth quarter of
2007 and 19% of revenue in the third quarter of 2008. The increase in
year-over-year royalties reflects higher unit shipments and increased
delivery of video that uses On2 technology.
-- Royalties were $3.4 million in 2008, up 76% from $1.9 million in 2007
and represented 21% of 2008 revenue. Royalties increased
year-over-year due to increases in both the number of royalty-paying
customers and the average royalty per customer.
-- In the fourth quarter of 2008, On2 added over 50 new customers,
excluding online sales, with 12 transactions in the quarter that
contributed over $50,000 to revenue.
-- In November, On2 introduced Flix(R) Cloud, a video transcoding
solution building on On2's popular Flix Engine. Flix Cloud will
operate in the Amazon EC2(R) (Elastic Computing Cloud) and provide
on-demand, pay-as-you-go networked transcoding.
-- In November, On2 announced that China's leading video-sharing website,
56.com, is switching to VP6-based Flash video and is using the Flix
encoding engine for server-side transcoding and publishing. 56.com
serves video to over 35 million people each month and chose On2's VP6
encoder based on factors including encoding speed, video performance
and quality, market acceptance, and licensing terms.
-- In November, On2 announced that Skype has extended its relationship
with On2 in a new strategic agreement. In February, Skype 4.0 for
Windows was launched featuring advanced video conferencing
capabilities that use On2's VP7 technology. Additionally, Asus
recently launched its AiGuru SV1 Skype Certified videophone, which
also uses VP7 technology.
-- In December, On2 added support for Sun JavaFX(R) to the Flix line of
video encoders, enabling cross-platform video encoding for JavaFX
applications.
Conference Call
Management will hold a conference call to discuss On2's results for the fourth quarter and full year 2008, as well as other developments in the business, at 5:00pm ET on March 5, 2009.
To access the live webcast, visit:
http://www.investorcalendar.com/IC/CEPage.asp?ID=136464
The webcast replay will be available until March 12, 2009.
If you prefer to dial in to the call, the information is as follows:
Live Call: (877) 407-9210, domestic
(201) 689-8049, international
Replay: (877) 660-6853
(201) 612-7415
Replay Passcodes: Account #: 286
Conference ID #: 314509
About On2
On2 creates advanced video compression technologies for desktop and wireless environments. Powering the video in many of today's leading web and mobile applications and devices, On2's customers include: Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, Move Networks, Adobe and Skype. On2 Technologies is headquartered in Clifton Park, NY USA. For more information please visit http://www.on2.com/.
All trademarks mentioned in this document are the property of their respective owners.
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained herein, certain statements included in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this document, other than statements of historical fact, that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements represent our reasonable judgment on the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "expect," "will," "anticipate," "should," "plans" and other words of similar meaning. Such statements include, but are not limited to, statements regarding the potential impact of cost cutting and containment measures, the potential for such cost cutting and containment measures to right-size the business and offset some of the global weakness in the economy, the Company's plans to build an encoding service and the potential benefit to the Company of continued growth in demand for on-line video. Investors should not rely on forward-looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release.
On2 Technologies, Inc.
Condensed Consolidated Balance Sheets
December 31,
------------
ASSETS 2008 2007
---- ----
Current assets:
Cash and cash equivalents $4,157,000 $9,573,000
Short-term investments 132,000 5,521,000
Accounts receivable, net 2,730,000 7,513,000
Prepaid expenses and other current assets 439,000 1,492,000
------- ---------
Total current assets 7,458,000 24,099,000
Intangible assets, net 16,587,000 54,500,000
Property and equipment, net 1,401,000 751,000
Other assets 430,000 175,000
------- -------
Total assets $25,876,000 $79,525,000
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $5,720,000 $6,253,000
Deferred revenue 2,133,000 1,887,000
Short-term borrowings 63,000 2,198,000
Current portion of long-term debt 1,148,000 491,000
Capital lease obligation 260,000 24,000
------- ------
Total current liabilities 9,324,000 10,853,000
Capital lease obligation, excluding current
portion 432,000 18,000
Long-term debt 1,802,000 3,082,000
--------- ---------
Total liabilities 11,558,000 13,953,000
Stockholders' equity 14,318,000 65,572,000
---------- ----------
Total liabilities and stockholders'
equity $25,876,000 $79,525,000
=========== ===========
On2 Technologies, Inc.
Consolidated Statements of Operations
-------------------------------------
Three months ended December 31,
-------------------------------
2008 2007 2006
---- ---- ----
Revenue $3,580,000 $6,118,000 $2,117,000
Operating expenses:
Cost of revenues(1) 590,000 1,134,000 511,000
Research and development(2) 2,071,000 2,333,000 272,000
Sales and marketing(2) 1,313,000 2,386,000 470,000
General and administrative(2) 2,588,000 1,732,000 1,001,000
Asset impairment 7,023,000
Equity-based compensation:
Research and development 108,000 81,000 16,000
Sales and marketing 57,000 69,000 (16,000)
General and administrative 298,000 161,000 170,000
------- ------- -------
Total operating expenses 14,048,000 7,896,000 2,424,000
---------- --------- ---------
Loss from operations (10,468,000) (1,778,000) (307,000)
Interest and other income
(expense), net 291,000 (3,000) (1,190,000)
------- ------ ----------
Loss before provision for
income taxes (10,177,000) (1,781,000) (1,497,000)
Provision for income taxes - 15,000 13,000
--- ------ ------
Net loss (10,177,000) (1,796,000) (1,510,000)
Convertible preferred stock
deemed dividend
Convertible preferred stock
8% dividend - 4,000 65,000
--- ----- ------
Net loss attributable
to common stockholders $(10,177,000) $(1,800,000) $(1,575,000)
============ =========== ===========
Basic and diluted net loss
attributable to common
stockholders per common share $(0.06) $(0.01) $(0.02)
====== ====== ======
Weighted average basic and
diluted common shares
outstanding 171,833,000 154,347,000 100,603,000
=========== =========== ===========
Year ended December 31,
-----------------------
2008 2007 2006
---- ---- ----
Revenue $16,268,000 $13,237,000 $6,572,000
Operating expenses:
Cost of revenues(1) 4,154,000 2,549,000 2,328,000
Research and development(2) 10,736,000 3,833,000 972,000
Sales and marketing(2) 7,095,000 4,272,000 1,093,000
General and administrative(2) 11,228,000 5,200,000 4,384,000
Asset impairment 33,268,000
Equity-based compensation:
Research and development 433,000 147,000 98,000
Sales and marketing 204,000 157,000 103,000
General and administrative 1,026,000 491,000 1,184,000
--------- ------- ---------
Total operating expenses 68,144,000 16,649,000 10,162,000
---------- ---------- ----------
Loss from operations (51,876,000) (3,412,000) (3,590,000)
Interest and other income
(expense), net 670,000 (3,467,000) (1,226,000)
------- ---------- ----------
Loss before provision for
income taxes (51,206,000) (6,879,000) (4,816,000)
Provision for income taxes - 25,000 30,000
--- ------ ------
Net loss (51,206,000) (6,904,000) (4,846,000)
Convertible preferred stock
deemed dividend 68,000
Convertible preferred stock
8% dividend - 82,000 285,000
--- ------ -------
Net loss attributable
to common stockholders $(51,206,000) $(6,986,000) $(5,199,000)
============ =========== ===========
Basic and diluted net loss
attributable to common
stockholders per common share $(0.30) $(0.06) $(0.05)
====== ====== ======
Weighted average basic and
diluted common shares
outstanding 171,231,000 121,561,000 96,642,000
=========== =========== ==========
(1) Includes equity-based compensation of $73,000 and $288,000 for the
three months and year ended December 31, 2008, respectively. Includes
equity-based compensation of $87,000 and $151,000 for the three months and
year ended December 31, 2007, respectively. Includes equity-based
compensation of $15,000 and $169,000 for the three months and year ended
December 31, 2006, respectively.
(2) Excludes equity-based compensation, which is presented separately.
On2 Technologies, Inc.
CONTACT: Garo Toomajanian, ICR, Inc., +1-518-881-4299, invest@on2.com
Web Site: http://www.on2.com/
American Software Reports Preliminary Third Quarter of Fiscal Year 2009 ResultsCompany achieves 32nd consecutive quarter of profitability, Operating Earnings increase 37% for the third quarter
ATLANTA, March 5 /PRNewswire-FirstCall/ -- American Software, Inc. today reported financial results for the third quarter of fiscal year 2009, achieving 32 consecutive quarters of profitability.
Key third quarter financial highlights include:
-- Total revenues for the quarter ended January 31, 2009 were $20.0
million, a decrease of 9% over the third quarter of fiscal 2008;
-- Software license fees for the quarter ended January 31, 2009 were $4.7
million, an increase of 9% over the third quarter of fiscal 2008;
-- Services and other revenues for the third quarter ended January 31,
2009 were $8.4 million; a decrease of 21% over the third quarter of
fiscal 2008;
-- Maintenance revenues for the quarter ended January 31, 2009 were $6.9
million, a decrease of 3% over the third quarter of fiscal 2008; and
-- Operating earnings for the quarter ended January 31, 2009 were $2.1
million, an increase of 37% over the third quarter of fiscal 2008.
GAAP net earnings were approximately $775,000 or $0.03 per fully diluted share for the third quarter of fiscal 2009 compared to $1.1 million or $0.04 per fully diluted share for the same period last year. Adjusted net earnings, which excludes stock-based compensation expense and acquisition-related amortization of intangibles, were $922,000 or $0.04 per fully diluted share for the quarter ended January 31, 2009, compared to $2.2 million or $0.08 per fully diluted share for the same period last year, which excludes stock-based compensation expense, acquisition-related amortization of intangibles, and write-down of capitalized software costs.
Total revenues for the nine months ended January 31, 2009 were $59.1 million or a 12% decrease compared to $67.4 million for the comparable period last year. Software license fees for the nine-month period were $11.3 million or a 21% decrease compared to $14.3 million during the same period last year. Services and other revenues were $26.7 million or a 17% decrease compared to $32.0 million in the same period last year. Maintenance revenues were $21.1 million for the nine months ended January 31, 2009 and same period last year. For the nine months ended January 31, 2009, the Company reported operating earnings of approximately $5.4 million, a 21% decrease compared to operating income of $6.9 million for the same period last year. GAAP net earnings were approximately $1.9 million or $0.07 per fully diluted share for the nine months ended January 31, 2009 compared to $5.6 million or $0.21 per fully diluted share for the same period last year. Adjusted net earnings year to date as of January 31, 2009, which excludes stock-based compensation expense and acquisition-related amortization of intangibles, were $2.4 million or $0.09 earnings per fully diluted share compared to $7.0 million or $0.26 earnings per fully diluted share for the same period last year, which excludes stock-based compensation expense, acquisition-related amortization of intangibles, and write-down of capitalized software costs.
The Company is including adjusted net earnings and adjusted net earnings per share in the summary financial information provided with this press release as supplemental information relating to its operating results. This financial information is not in accordance with, or an alternative for, GAAP and may be different from non-GAAP net earnings and non-GAAP per share measures used by other companies. The Company believes that this presentation of adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations.
The overall financial condition of the Company remains strong, with cash and investments of approximately $70.3 million and no debt as of January 31, 2009. This is approximately a $736,000 decrease when compared to October 31, 2008. During the quarter, the Company repurchased 82,500 shares of its common stock for approximately $338,170 under its authorized stock repurchase program and paid approximately $2.3 million in dividends.
"Although we continue to experience a more difficult selling environment for software, we added 19 new companies to our global customer roster and continued to deepen our relationships with existing customers during the quarter. The third quarter of fiscal year 2009 represents our 32nd consecutive quarter of profitability," stated James C. Edenfield, president and CEO of American Software. "Our focus is on helping companies leverage their supply chains to create operational, market and brand advantages that drive results in both good and difficult economic environments."
"Our sustained profitability has allowed the Company to provide a tangible benefit to our shareholders with a quarterly dividend as well as a share repurchase program. On February 17, 2009 our Board of Directors authorized the Company's next quarterly dividend of $0.09 per common share which is payable on May 29, 2009 to shareholders of record at the close of business on May 15, 2009."
Additional highlights for the third quarter of fiscal year 2009 include:
Customers and Channels:
-- Notable new and existing customers placing orders with the Company in
the third quarter include: Arch Chemicals, Astronics AES, Belkin
International, Bracco SPA, Corning Cable Systems, Couttenye Venezuela,
CSN Stores, Johnson Controls, Jockey International, Johnson Diversey,
Merle Norman Cosmetics, Mitsubishi Motor Products, Norwood Promotional
Products, Schering-Plough Healthcare Products, Sonoco Products,
Techtronic Industries, and Topson Downs.
-- During the quarter, software license agreements were signed with
customers located in 10 countries including: Australia, Canada, Costa
Rica, Italy, Netherlands, United Arab Emirates, United Kingdom, United
States, Venezuela, and Vietnam.
-- New Generation Computing, Inc. (NGC), a wholly owned subsidiary of the
Company, announced expansion into the Indian market through a reseller
agreement with Technopak, a leading retail, textile, apparel and
consumer goods consultancy firm. Under the terms of the agreement,
Technopak will sell and provide implementation services for the full
range of NGC's supply chain software for retailers, apparel brands and
factories in India, Bangladesh, Pakistan and Sri Lanka. NGC products
covered by the agreement include e-PLM(R) for Product Lifecycle
Management, e-SPS(R) for global sourcing and visibility, RedHorse(R)
for apparel ERP and TPM (The Production Manager) for shop floor
control.
-- Demand Management, a wholly-owned subsidiary of Logility, expanded its
distributor network with the addition of six new distributors located
in Calgary, Chennai, Hyderabad, Singapore, Detroit, and Dallas. Demand
Management now has 35 offices globally representing the Demand
Solutions brand.
-- Logility announced that 45% of the Top 100 Consumer Goods Companies,
as ranked by Consumer Goods Technology magazine in the annual Consumer
Goods Registry, were Logility customers. Additionally, several
Logility customers were ranked separately as leaders within specific
vertical industries. Among these rankings, Logility customers
represented 50% of the top 20 packaged goods companies, 40% of the top
20 footwear, apparel and accessories companies and 60% of the top 10
housewares/appliances companies.
-- Logility announced that Augusta Sportswear, Inc. selected Logility
Voyager Solutions to improve forecast accuracy, increase visibility
into customer demand and manage inventory more effectively across its
global supply chain. Augusta Sportswear is a leading manufacturer in
the team apparel industry.
-- During the third quarter, Logility held a Supply Chain Power Hour
webcast "S&OP: Supply Chain Superheroes Never Work Alone." The
educational webcast featured Logility customer Shaw Industries and
addressed how building a more collaborative S&OP process helps you
synchronize data, remove days from your planning process and increase
accountability across the business.
-- Demand Management announced that its customer, Peerless Pump has
doubled sales while keeping the same inventory levels with the help of
Demand Solutions(R) supply and demand planning software.
Products and Technology:
-- New Generation Computing, Inc. (NGC) announced its PLM and global
sourcing solutions help ease the burden of 10+2 Importer Security
Filing (ISF) requirements and Consumer Product Safety Improvement Act
(CPSIA) regulations. NGC provides enterprise-wide, web-based strategic
solutions that can help companies collect, maintain and share the
information needed to meet both the 10+ 2 and CPSIA requirements.
-- Logility received multiple Reader's Choice Awards for the ninth
consecutive year from Consumer Goods Technology magazine including
being voted the number one provider for customer experience in the
supply chain planning category. In addition to recognition as a
breakout favorite for overall customer experience implementing and
using Logility's supply chain solutions, Logility was also ranked as a
top three solution provider for supply chain planning and supply chain
execution in the 2009 Reader's Choice Awards. It is the ninth year
that the Reader's Choice Awards have been given out by Consumer Goods
Technology and Logility has consistently received top rankings in the
areas of supply chain planning, supply chain execution and customer
experience each year.
-- Food Logistics magazine selected Logility for its annual FL100 for the
fifth consecutive year. Each year, the editors of Food Logistics
select the top 100 technology and solution providers that help grocery
and foodservice distributors and manufacturers reach their business
goals. The 2008 FL100 is the fifth-annual listing and Logility has
been recognized as a top technology provider each year since the
award's inception.
-- Logility announced Connections 2009 Conference, Supply Chain
Optimization: Mission Possible. The annual supply chain conference for
Logility customers and supply chain professionals will be held Sept.
23-25 in Atlanta, GA at the Georgia Tech Hotel and Conference Center.
About American Software, Inc.
Headquartered in Atlanta, American Software develops, markets and supports one of the industry's most comprehensive offerings of integrated business applications, including supply chain management, Internet commerce, financial, warehouse management and manufacturing packages. e-Intelliprise(TM) is an ERP/supply chain management suite, which leverages Internet connectivity and includes multiple manufacturing methodologies. American Software owns 88% of Logility, Inc. , a leading provider of collaborative supply chain solutions that help small, medium, large and Fortune 1000 companies realize substantial bottom-line results in record time. Logility is proud to serve such customers as Avery Dennison Corporation, BP (British Petroleum), Hyundai Motor America, Leviton Manufacturing Company, McCain Foods, Pernod-Ricard, Sigma Aldrich and VF Corporation. NGC(R) (New Generation Computing(R)), a wholly owned subsidiary of American Software, is a leading provider of PLM, global sourcing and ERP solutions for apparel, fashion, footwear and retail. NGC customers include leading companies such as A|X Armani Exchange, Carter's, Casual Male Retail Group, Maggy London, Hugo Boss, Dick's Sporting Goods, Isda & Co., Tristan & America, and Parigi Group. For more information on the Company, contact: American Software, 470 East Paces Ferry Rd., Atlanta, GA 30305; (800) 726-2946 or (404) 261-4381. FAX: (404) 264-5206. INTERNET: http://www.amsoftware.com/ or e-mail: ask@amsoftware.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions, technology and the market for the Company's products and services, including economic conditions within the e-commerce markets; the timely availability and market acceptance of these products and services; the Company's ability to satisfy in a timely manner all SEC required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; the challenges and risks associated with integration of acquired product lines and companies; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's Form 10-K for the year ended April 30, 2008 and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., (404) 264-5477 or fax: (404) 237-8868.
e-Intelliprise is a trademark of American Software, Logility is a registered trademark and Logility Voyager Solutions is a trademark of Logility, Demand Solutions is a registered trademark of Demand Management, and NGC is a registered trademark and REDHORSE is a trademark of New Generation Computing. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
AMERICAN SOFTWARE, INC.
Consolidated Statements of Operations Information
(In thousands, except per share data)
(Unaudited)
Third Quarter Ended Nine Months Ended
------------------- -----------------
January 31, January 31,
Pct Pct
2009 2008 Chg. 2009 2008 Chg.
---- ---- ---- ---- ---- ----
Revenues:
License $4,722 $4,336 9% $11,258 $14,261 (21%)
Services &
other 8,386 10,611 (21%) 26,729 32,032 (17%)
Maintenance 6,932 7,126 (3%) 21,099 21,121 0%
----- ----- --- ------ ------ ---
Total
Revenues 20,040 22,073 (9%) 59,086 67,414 (12%)
------ ------ --- ------ ------ ---
Cost of Revenues:
License 1,064 1,386 (23%) 3,870 4,620 (16%)
Services &
other 5,925 7,246 (18%) 18,223 22,520 (19%)
Maintenance 1,778 1,940 (8%) 5,400 5,582 (3%)
Write-down of
capitalized
software
development
costs - 1,196 nm - 1,196 nm
--- ----- --- --- ----- ---
Total Cost
of Revenues 8,767 11,768 (26%) 27,493 33,918 (19%)
----- ------ --- ------ ------ ---
Gross Margin 11,273 10,305 9% 31,593 33,496 (6%)
------ ------ --- ------ ------ ---
Operating expenses:
Research and
development 2,247 2,237 0% 6,942 7,131 (3%)
Less:
capitalized
development (482) (480) 0% (1,506) (1,635) (8%)
Sales and
marketing 3,829 4,086 (6%) 11,097 11,298 (2%)
General and
administrative 3,203 2,705 18% 9,077 9,392 (3%)
Provision for
doubtful
accounts 255 108 136% 309 183 69%
Acquisition
related
amortization
of intangibles 87 87 0% 262 262 0%
----- ----- --- ------ ------ ---
Total
Operating
Expenses 9,139 8,743 5% 26,181 26,631 (2%)
----- ----- --- ------ ------ ---
Operating
Earnings 2,134 1,562 37% 5,412 6,865 (21%)
----- ----- --- ----- ----- ---
Interest
Income
(expense) &
Other, Net (195) 143 nm (1,518) 2,722 nm
---- --- --- ------ ----- ---
Earnings Before
Income Taxes and
Minority
Interest 1,939 1,705 14% 3,894 9,587 (59%)
Income Tax
Expense 952 461 107% 1,552 3,397 (54%)
Minority
Interest
Expense 212 107 98% 487 557 (13%)
--- --- --- --- --- ---
Net Earnings $775 $1,137 (32%) $1,855 $5,633 (67%)
==== ====== === ====== ====== ===
Earnings per common
share: (1)
Basic $0.03 $0.04 (25%) $0.07 $0.22 (68%)
===== ===== === ===== ===== ===
Diluted $0.03 $0.04 (25%) $0.07 $0.21 (67%)
===== ===== === ===== ===== ===
Weighted average
number of common
shares outstanding:
Basic 25,279 25,562 25,343 25,406
Diluted 25,599 26,449 25,791 27,125
Reconciliation of
Adjusted Net
Earnings:
Net Earnings $775 $1,137 $1,855 $5,633
Acquisition
related
amortization of
intangibles (2) 44 64 157 170
Stock-based
compensation (2) 103 158 374 372
Write-down of
capitalized
software
development
costs (2) - 873 - 773
---- ------ --- ------ ------ ---
Adjusted Net
Earnings $922 $2,232 (59%) $2,386 $6,948 (66%)
==== ====== === ====== ====== ===
Adjusted Net
Earnings per
Diluted Share $0.04 $0.08 (50%) $0.09 $0.26 (65%)
===== ===== === ===== ===== ===
(1) - Basic per share amounts are the same for Class A and Class B
shares. Diluted per share amounts for Class A shares are shown above.
Diluted per share for Class B shares under the two-class method are
$0.03 and $0.04 for the three months ended January 31, 2009 and 2008,
respectively, and $0.07 and $0.22 for the nine months ended January 31,
2009 and 2008, respectively.
(2) - Tax affected using the effective tax rate for the three and nine
month period ended January 31, 2009
nm- not meaningful
AMERICAN SOFTWARE, INC.
Consolidated Balance Sheet Information
(In thousands)
(Unaudited)
January 31, April 30,
2009 2008
---- ----
Cash and Short-term investments $55,893 $76,141
Accounts Receivable:
Billed 11,077 12,563
Unbilled 2,112 3,311
----- -----
Total Accounts Receivable, net 13,189 15,874
Prepaids & Other 3,208 2,946
----- -----
Current Assets 72,290 94,961
Investments - noncurrent 14,428 -
PP&E, net 7,263 6,903
Capitalized Software, net 4,405 4,657
Goodwill 11,709 11,912
Other Intangibles, net 1,073 1,586
Other Non-current Assets 190 198
--- ---
Total Assets $111,358 $120,217
======== ========
Accounts Payable $893 $1,578
Accrued Compensation and Related costs 2,108 2,260
Other Current Liabilities 3,100 3,694
Dividend Payable 2,271 2,286
Deferred Tax Liability - short term 147 640
Deferred Revenues 14,996 16,441
------ ------
Current Liabilities 23,515 26,899
Deferred Tax Liability - long term 1,121 1,202
Minority Interest 6,133 5,621
Shareholders' Equity 80,589 86,495
------ ------
Total Liabilities & Shareholders' Equity $111,358 $120,217
======== ========
American Software, Inc.
CONTACT: Financial Information: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., +1-404-264-5477
Web Site: http://www.amsoftware.com/
Logility Reports Preliminary Third Quarter of Fiscal Year 2009 ResultsOperating Earnings Grow 313% Driven by 57% Growth in License Fees
ATLANTA, March 5 /PRNewswire-FirstCall/ -- Logility, Inc. , a leading supplier of collaborative solutions to optimize the supply chain, today announced financial results for the third quarter of fiscal year 2009.
Key third quarter fiscal year 2009 financial highlights include:
-- Total revenues for the quarter ended January 31, 2009 were $10.6
million, an increase of 7% over the third quarter of fiscal 2008;
-- Software license fees for the quarter ended January 31, 2009 were $3.7
million, an increase of 57% over the third quarter of fiscal 2008;
-- Services and other revenues for the quarter ended January 31, 2009
were $1.3 million, a decrease of 34% over the third quarter of fiscal
2008;
-- Maintenance revenues for the quarter ended January 31, 2009 were $5.7
million, an increase of 1% over the third quarter of fiscal 2008; and
-- Operating earnings for the quarter ended January 31, 2009 were $2.8
million, an increase of 313% compared to operating earnings of
$675,000 for the third quarter of fiscal 2008.
GAAP net earnings were $1.8 million or $0.14 earnings per fully diluted share for the third quarter of fiscal 2009 compared to net earnings of $835,000 or $0.06 earnings per fully diluted share for the third quarter of fiscal 2008. Adjusted net earnings, which exclude stock-based compensation expense and acquisition-related amortization of intangibles expense, were $1.9 million or $0.14 earnings per fully diluted share for the quarter ended January 31, 2009, compared to adjusted net earnings of $1.8 million or $0.13 earnings per fully diluted share for the same period last year which exclude stock-based compensation expense, acquisition-related amortization of intangibles expense and write-down of capitalized software costs.
Total revenues for the nine months ended January 31, 2009 were $30.5 million or an 8% decrease compared to the comparable period last year. Software license fees for the nine months were $9.0 million or a 14% decrease compared to the same period last year. Services and other revenues were $4.2 million or a 29% decrease compared to the same period last year. Maintenance revenues were $17.3 million or a 4% increase compared to the same period last year. For the nine months ended January 31, 2009, the Company reported operating earnings of approximately $6.0 million or a 2% increase compared to operating earnings of $5.9 million for the same period last year.
GAAP net earnings were approximately $4.0 million or $0.31 per fully diluted share for the nine months ended January 31, 2009 compared to net earnings of $4.4 million or $0.33 per fully diluted share for the same period last year. Adjusted net earnings, which for the current period exclude stock-based compensation expense and acquisition-related amortization of intangibles expense, were $4.4 million or $0.34 earnings per fully diluted share for the nine months ended January 31, 2009 compared to net earnings of $5.7 million or $0.42 earnings per fully diluted share the same period last year, which exclude stock-based compensation expense, acquisition-related amortization of intangibles expense, a non-cash tax valuation adjustment, and write-down of capitalized software costs.
The Company is including adjusted net earnings and adjusted net earnings per share in the summary financial information provided with this press release as supplemental information relating to its operating results. This financial information is not in accordance with, or an alternative for, GAAP and may be different from non-GAAP net earnings and non-GAAP per share measures used by other companies. The Company believes that this presentation of adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations.
The overall financial condition of the Company remains strong, with cash and investments of approximately $47.3 million as of January 31, 2009. This is approximately a $2.1 million sequential increase in cash and investments compared to October 31, 2008 and approximately a $5.9 million increase compared to January 31, 2008.
"We are very pleased with our results for the quarter; increasing license fees by 57%, total revenues by 7%, and operating earnings by 313% for the third quarter when compared to the same quarter of fiscal year 2008," said J. Michael Edenfield, Logility president and chief executive officer. "Despite the difficult global economy, we added 17 new customers and signed license agreements with customers in 10 countries during the quarter."
"The increased visibility, discipline and efficiency provided by Logility's supply chain solutions allow manufacturing, wholesale, and specialty retail enterprises the opportunity to significantly improve cash flow, reduce inventory, increase supply chain responsiveness and accelerate the sales and operations planning process," continued Edenfield. "Today's global economic environment increases the emphasis on improving all facets of the supply chain to better service customers while simultaneously lowering costs. Logility is well positioned to help streamline the supply chains of small, medium, large and Fortune 1000 companies."
Highlights for the third quarter of fiscal 2009 include:
Customers and Channels:
-- Notable new and existing customers placing orders with Logility in the
third quarter include: Arch Chemicals, Astronics AES, Belkin
International, Bracco SPA, Couttenye Venezuela, CSN Stores, Johnson
Controls, Johnson Diversey, Mitsubishi Motor Products, Norwood
Promotional Products, Sonoco Products, and Techtronic Industries.
-- During the quarter, software license agreements were signed with
customers located in 10 countries including: Australia, Canada, Costa
Rica, Italy, Netherlands, United Arab Emirates, United Kingdom, United
States, Venezuela, and Vietnam.
-- Demand Management, a wholly-owned subsidiary of Logility, expanded its
distributor network with the addition of six new distributors located
in Calgary, Chennai, Hyderabad, Singapore, Detroit, and Dallas. Demand
Management now has 35 offices globally representing the Demand
Solutions brand.
-- Logility announced that 45% of the Top 100 Consumer Goods Companies,
as ranked by Consumer Goods Technology magazine in the annual Consumer
Goods Registry, were Logility customers. Additionally, several
Logility customers were ranked separately as leaders within specific
vertical industries. Among these rankings, Logility customers
represented 50% of the top 20 packaged goods companies, 40% of the top
20 footwear, apparel and accessories companies and 60% of the top 10
housewares/appliances companies.
-- Logility announced that Augusta Sportswear, Inc. selected Logility
Voyager Solutions to improve forecast accuracy, increase visibility
into customer demand and manage inventory more effectively across its
global supply chain. Augusta Sportswear is a leading manufacturer in
the team apparel industry.
-- During the third quarter, Logility held a Supply Chain Power Hour
webcast "S&OP: Supply Chain Superheroes Never Work Alone." The
educational webcast featured Logility customer Shaw Industries and
addressed how building a more collaborative S&OP process helps you
synchronize data, remove days from your planning process and increase
accountability across the business.
-- Demand Management announced that its customer, Peerless Pump has
doubled sales while keeping the same inventory levels with the help of
Demand Solutions(R) supply and demand planning software.
Products and Technology:
-- Logility received multiple Reader's Choice Awards for the ninth
consecutive year from Consumer Goods Technology magazine including
being voted the number one provider for customer experience in the
supply chain planning category. In addition to recognition as a
breakout favorite for overall customer experience implementing and
using Logility's supply chain solutions, Logility was also ranked as a
top three solution provider for supply chain planning and supply chain
execution in the 2009 Reader's Choice Awards. It is the ninth year
that the Reader's Choice Awards have been given out by Consumer Goods
Technology and Logility has consistently received top rankings in the
areas of supply chain planning, supply chain execution and customer
experience each year.
-- Food Logistics magazine selected Logility for its annual FL100 for the
fifth consecutive year. Each year, the editors of Food Logistics
select the top 100 technology and solution providers that help grocery
and foodservice distributors and manufacturers reach their business
goals. The 2008 FL100 is the fifth-annual listing and Logility has
been recognized as a top technology provider each year since the
award's inception.
-- Logility announced Connections 2009 Conference, Supply Chain
Optimization: Mission Possible. The annual supply chain conference for
Logility customers and supply chain professionals will be held Sept.
23-25 in Atlanta, GA at the Georgia Tech Hotel and Conference Center.
About Logility
With more than 1,250 customers worldwide, Logility is a leading provider of collaborative supply chain planning solutions that help small, medium, large and Fortune 1000 companies realize substantial bottom-line results in record time. Logility Voyager Solutions feature performance monitoring capabilities in a single Internet-based framework and provide supply chain visibility; demand, inventory and replenishment planning; sales and operations planning; supply and global sourcing optimization; transportation planning and execution; and warehouse management. Demand Solutions provide forecasting, demand planning and point-of-sale analysis for maximizing profits in manufacturing, distribution and retail operations. Logility customers include Arch Chemicals, Avery Dennison Corporation, BP (British Petroleum), Hyundai Motor America, Leviton Manufacturing Company, McCain Foods, Pernod Ricard, Remington Products Company, Sigma Aldrich. and VF Corporation. Logility is a majority-owned subsidiary of American Software . For more information about Logility, call 1-800-762-5207 or visit http://www.logility.com/.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions, technology and the market for the Company's products and services including economic conditions within the e-commerce markets; the timely availability and market acceptance of these products and services; the challenges and risks associated with integration of acquired product lines and companies; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's Form 10-K for the year ended April 30, 2008 and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact Vincent C. Klinges, Chief Financial Officer, Logility, Inc., 470 East Paces Ferry Rd., Atlanta, GA 30305, (404) 261-9777. FAX: (404) 264-5206; INTERNET: http://www.logility.com/ or E-mail: askLogility@logility.com.
Logility is a registered trademark and Logility Voyager Solutions is a trademark of Logility. Demand Solutions is a registered trademark of Demand Management, Inc., a wholly-owned subsidiary of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
LOGILITY, INC.
Consolidated Statements of Operations Information
(In thousands, except per share data)
(Unaudited)
Third Quarter Ended Nine Months Ended
------------------- -----------------
January 31, January 31,
Pct Pct
2009 2008 Chg. 2009 2008 Chg.
---- ---- ---- ---- ---- ----
Revenues:
License $3,671 $2,333 57% $8,952 $10,409 (14%)
Services & other 1,271 1,933 (34%) 4,227 5,985 (29%)
Maintenance 5,701 5,665 1% 17,335 16,636 4%
----- ----- ---- ------ ------ ----
Total Revenues 10,643 9,931 7% 30,514 33,030 (8%)
------ ----- ---- ------ ------ ----
Cost of Revenues:
License 994 1,364 (27%) 3,732 4,518 (17%)
Services & other 750 853 (12%) 2,442 2,898 (16%)
Maintenance 1,211 1,261 (4%) 3,666 3,609 2%
Write-down of
capitalized software
development costs - 1,196 nm - 1,196 nm
----- ----- ---- ----- ----- ----
Total Cost of Revenues 2,955 4,674 (37%) 9,840 12,221 (19%)
----- ----- ---- ----- ------ ----
Gross Margin 7,688 5,257 46% 20,674 20,809 (1%)
----- ----- ---- ------ ------ ----
Operating expenses:
Research and development 1,725 1,719 0% 5,298 5,544 (4%)
Less: capitalized
development (482) (480) 0% (1,503) (1,635) (8%)
Sales and marketing 2,437 2,402 1% 7,160 7,279 (2%)
General and
administrative 1,134 854 33% 3,492 3,485 0%
Acquisition related
amortization of
intangibles 87 87 0% 262 262 0%
----- ----- ---- ------ ------ ----
Total Operating
Expenses 4,901 4,582 7% 14,709 14,935 (2%)
----- ----- ---- ------ ------ ----
Operating Earnings 2,787 675 313% 5,965 5,874 2%
----- --- ---- ----- ----- ----
Interest Income
(expense) & Other, Net (44) 538 na 141 1,451 (90%)
--- --- -- --- ----- ---
Earnings Before Income
Taxes 2,743 1,213 126% 6,106 7,325 (17%)
Income Tax Expense 987 378 161% 2,104 2,971 (29%)
--- --- ---- ----- ----- ----
Net Earnings $1,756 $835 110% $4,002 $4,354 (8%)
====== ==== ==== ====== ====== ===
Earnings per common share:
Basic $0.14 $0.06 133% $0.31 $0.34 (9%)
===== ===== ==== ===== ===== ===
Diluted $0.14 $0.06 133% $0.31 $0.33 (6%)
===== ===== ==== ===== ===== ===
Weighted Average Number of
Common Shares:
Basic 12,860 12,964 12,864 12,950
Diluted 12,970 13,336 13,042 13,372
Reconciliation of Adjusted
Net Earnings:
Net Earnings $1,756 $835 $4,002 $4,354
Acquisition related
amortization of
intangibles (1) 55 60 172 156
Stock-based compensation
(1) 69 69 219 165
Write-down of capitalized
software development
costs (1) - 823 - 710
Tax valuation adjustment
(non-cash) - - - 283
------ ------ -- ------ ------ ----
Adjusted net earnings $1,880 $1,787 5% $4,393 $5,668 (22%)
====== ====== == ====== ====== ====
----- ----- -- ----- ----- ----
Adjusted Net Earnings per
Share - Diluted $0.14 $0.13 8% $0.34 $0.42 (19%)
===== ===== == ===== ===== ====
(1) Tax affected using the effective tax rate for the three and nine
month period ended January 31, 2009
LOGILITY, INC.
Consolidated Balance Sheet Information
(in thousands)
(Unaudited)
January 31, April 30,
2009 2008
---- ----
Cash and Short-term investments $35,378 $42,732
Accounts Receivable:
Billed 6,218 6,897
Unbilled 427 1,424
--- -----
Total Accounts Receivable, net 6,645 8,321
Deferred Tax Assets 74 74
Prepaids & Other Current Assets 2,450 2,256
----- -----
Current Assets 44,547 53,383
Investments - Long term 11,931 -
PP&E, net 298 401
Capitalized Software, net 4,399 4,560
Goodwill 5,809 5,809
Other Intangibles, net 590 871
Other non-current Assets 41 48
-- --
Total Assets $67,615 $65,072
======= =======
Accounts Payable $371 $543
Accrued Compensation and Related costs 1,286 1,282
Accrued Reseller Commissions 858 1,013
Other Current Liabilities 729 965
Due to American Software Inc. 650 638
Deferred Revenues 11,581 12,622
------ ------
Current Liabilities 15,475 17,063
Deferred Tax Liability 1,577 1,620
Shareholders' Equity 50,563 46,389
------- -------
Total Liabilities & Shareholders' Equity $67,615 $65,072
======= =======
Logility, Inc.
CONTACT: Vincent C. Klinges, Chief Financial Officer, Logility, Inc.; +1-404-264-5477
Web Site: http://www.logility.com/
Kount Announces Partner Agreement With ClearCommerceCompanies team to fight online fraud
BOISE, Idaho, March 5 /PRNewswire/ -- Kount, a subsidiary of Boise, Idaho-based Keynetics Inc., today announced that the company has signed a preferred partner agreement with ClearCommerce/Certegy, a subsidiary of Fidelity National Information Services, Inc. .
Under the agreement, Kount will work alongside ClearCommerce to provide the latest in fraud detection services to ClearCommerce merchants who seek additional fraud protection for their card-not-present transactions. Both companies support all major card brands, as well as alternative payment services.
"ClearCommerce/Certegy is excited to announce the news of our partnership with Kount," said William Roese, Senior VP of Risk Management and Product Development, ClearCommerce/Certegy. "This agreement allows us to provide additional transaction decisioning capabilities for our eCommerce clients and presents a new source of data for ClearCommerce/Certegy to manage risk in the CNP space. We look forward to offering and utilizing these new capabilities for our clients, as well as new eCommerce merchants who are interested in a state-of-the-art solution."
According to Steven Rouse, Chief Operating Officer at Kount, "ClearCommerce is an important channel partner in the competitive card-not-present payment processing service sector. We believe Kount's cyber crime-fighting technology combined with ClearCommerce's world-class transaction and risk management services gives online merchants a competitive edge that is hard to beat."
About ClearCommerce/Certegy
Since 1995, ClearCommerce has been a leading provider of risk and transaction management for Card-Not-Present eCommerce activity. On September 12, 2007, ClearCommerce(R), then a division of eFunds, was purchased by Certegy Check Services Inc.'s parent corporation, Fidelity National Information Services . For more information on ClearCommerce's complete suite of eCommerce solutions, please contact us today at clearcommerce@fnis.com or 866-894-0807.
About Kount
Kount(R) is the most advanced fraud-fighting technology available today. Developed by Keynetics Inc. with online and catalog merchant needs in mind, Kount defends against both traditional and emerging fraud threats. Kount defeats botnets and other organized crime using a formidable array of tools including two patented technologies -- device fingerprinting, and proxy-piercing--along with Dynamic Scoring(TM), geolocation techniques, and real-time data streams from websites all across the globe.
Kount provides merchants with maximum risk management control and flexibility, while automating costly manual review processes to improve the bottom line. For more information about Kount, please visit http://www.kount.com/.
Contact:
Joanne Taylor
208-472-5662
jtaylor@drakecooper.com
Kount
CONTACT: Joanne Taylor, +1-208-472-5662, jtaylor@drakecooper.com, for Kount
Web Site: http://www.kount.com/
StatoilHydro ASA Awards Paradigm Multi-Year Technology Access ContractGlobal access to broad range of subsurface E&P asset management technology
AMSTERDAM, Netherlands, March 5 /PRNewswire/ -- Paradigm(TM) (http://www.pdgm.com/), a leading provider of enterprise software solutions to the global oil and natural gas exploration and production (E&P) industry, announced today that Paradigm and StatoilHydro ASA, Norway's leading integrated technology-based international energy company, have entered into a multi-year agreement to deploy a broad suite of Paradigm's subsurface E&P asset management software applications on a globally accessible basis across StatoilHydro's operations worldwide.
As exploration continues with ever increasing reservoir complexity, and data sets grow larger and larger, StatoilHydro Geoscientists, in every StatoilHydro office globally, will now be able to benefit from access to Paradigm petrophysics, depth conversion, interpretation and processing & imaging technology. This will allow StatoilHydro to easily deploy workflows and knowledge, developed in Norway, throughout all of their international offices around the world.
"StatoilHydro has entered into this agreement based on the long standing history between StatoilHydro and Paradigm, and the high quality of the results we are able to obtain when using Paradigm technology," said Oddvar Vermedal, manager of global IT subsurface services for StatoilHydro. "StatoilHydro places a high degree of value on best-in-class technology, and establishing this global agreement with Paradigm is consistent with our E&P goals."
"Paradigm has had a long and rewarding relationship with both Statoil and Hydro going back many years, so it is particularly exciting to move to the next level of our relationship with the combined company of StatoilHydro," said Richard Jefferies, Paradigm executive vice president of Europe, Africa and the CIS operations. "Both companies have technology at their heart, and place a lot of emphasis on using great science to add bottom line value. As such, we look forward to working with StatoilHydro over the coming years to further this mutually shared vision."
Paradigm President and CEO, John Gibson, reinforced this shared emphasis on technology, by saying "StatoilHydro's technical leadership is well recognized by the industry. Their choice of Paradigm therefore helps us to know that our direction and vision are on target for these challenging times."
For more information on Paradigm products and services, contact your regional office directly (find information at http://www.pdgm.com/), or e-mail info@paradigmgeo.com.
About Paradigm(TM)
Paradigm B.V. (http://www.pdgm.com/) is an industry leader in digital subsurface asset management, serving oil and gas companies worldwide. Paradigm technology solutions for seismic processing and imaging, interpretation and modeling, reservoir characterization and petrophysics, and well planning and drilling operate in an open environment to accelerate results. Paradigm has a global network of sales, consulting and support.
The following are trademarks or registered trademarks of Paradigm B.V. or of its affiliates (collectively, "Paradigm"): Paradigm(TM), Paradigm logo and/or other Paradigm products referenced herein. All other trademarks are owned by their respective owners. Please read the Paradigm notice on forward-looking statements at http://www.pdgm.com/legal.aspx#Forward-Looking-Statements.
About StatoilHydro ASA
Established on October 1, 2007, following the merger between Statoil's and Hydro's oil and gas activities, StatoilHydro employs 29,500 employees in 40 countries, operating 39 producing oil and gas fields. They are the world's largest operator in water depths of greater than 100 meters, and a world leader in the use of deepwater technology.
StatoilHydro's proven reserves are in excess of six billion barrels of oil equivalent, averaging approximately 1.7 million barrels of oil equivalent production per day. They are a leader in carbon capture and storage, and one of the world's largest crude oil and gas suppliers.
Listed on the Oslo Stock Exchange (ticker: STL) and New York Stock Exchange (ticker: STO)
Paradigm Media Contact
Samhita Shah
Tel: +1 713.393.4109
samhita.shah@pdgm.com
Paradigm
CONTACT: Samhita Shah of Paradigm, +1-713-393-4109, samhita.shah@pdgm.com
Web Site: http://www.pdgm.com/ http://www.pdgm.com/legal.aspx#Forward-Looking-Statements
NetSuite CFO Jim McGeever Scheduled to Present at Raymond James' 30th Annual Institutional Investors ConferencePresentation to Showcase Advances, Cost-Savings and Benefits in NetSuite's ERP / Accounting, CRM and Ecommerce Software Suite
SAN MATEO, Calif., March 5 /PRNewswire-FirstCall/ -- NetSuite Inc. , a leading vendor of on-demand business management software suites for mid-market enterprises and divisions of large companies, today announced that NetSuite CFO Jim McGeever is scheduled to present at Raymond James' 30th Annual Institutional Investors Conference in Orlando, Florida on Monday, March 9, 2009 at 8:05am EDT.
Mr. McGeever will discuss recent advances in NetSuite's innovative software suite as well as the cost-savings and benefits that Software as a Service (SaaS) delivers to businesses. NetSuite allows companies to manage their key business operations -- including customer relationship management (CRM), enterprise resource planning (ERP) and accounting, and ecommerce -- in a single hosted system.
Live webcasts and/or replay of the presentations can be accessed on the investor relations portion of the company's website at http://www.netsuite.com/investors.
For more information about NetSuite Inc., please visit http://www.netsuite.com/.
NOTE: NetSuite and the NetSuite logo are registered service-marks of NetSuite Inc.
(Logo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO)
Photo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
NetSuite Inc.
CONTACT: Media, Mei Li of NetSuite Inc., +1-650-627-1063, meili@netsuite.com; or Investor Relations, Carolyn Bass of Market Street Partners, +1-415-445-3232, ir@netsuite.com, for NetSuite Inc.
Web Site: http://www.netsuite.com/
Light Reading to Launch New Packet-Optical Transport Conference on May 19, Followed by Optical Expo Virtual TradeshowLight Reading and Heavy Reading's New Packet Optical Transport Evolution conference program uniquely combines the face-to-face benefits of live events with the vast reach of virtual events. The program will feature keynote speakers from Verizon, RCN Metro, Fujitsu, and more
NEW YORK, March 5 /PRNewswire/ -- Light Reading (http://www.lightreading.com/), the leading online publication for the telecom industry, and Heavy Reading (http://www.heavyreading.com/), its prestigious market research division, will be producing their first Packet-Optical Transport Evolution conference (http://www.lightreading.com/packetoptical), on May 19, 2009, in New York. Packet-Optical Transport Evolution, hosted by Heavy Reading Senior Analyst Sterling Perrin, will provide high-quality communication across all segments of the optical market's value chain. The goal of this conference is to get people talking about how optical networks bring real value to networks and how they ultimately underpin an operator's success in an NGN world.
Packet-Optical Transport Evolution will feature keynote speakers Dr. Stuart Elby, Vice President of Network Architecture for Verizon; Felipe J. Alvarez, President of RCN Metro Optical Networks; and Rod Naphan, Vice President of Product and Strategic Planning, for Fujitsu.
Building off the expected success of the Packet-Optical Transport Evolution conference, Light Reading and Heavy Reading will launch their first optical virtual tradeshow, Optical Expo 2009, on July 14, 2009. The Optical Expo Virtual Tradeshow will have all the characteristics of a live event and more, including an auditorium with panel sessions, keynote speakers, video presentations, live Q&A, customizable exhibitor booths with chat features, and a virtual lounge. Registration for the Optical Expo 2009 Virtual Tradeshow is guaranteed at 1,000.
"Executives at communications service providers of all types -- mobile carriers, cable companies, and traditional telcos -- are telling us this year they want to limit their travel to events, but still be able to maximize their ability to keep pace with transformational opportunities such as packet-optical technologies," says Joe Braue, SVP and Group Director of Light Reading. "The one-day regional event in New York is incredibly convenient and efficient, and the virtual event brings the content to the entire world."
Packet-Optical Transport Evolution sponsors include Platinum Sponsor Fujitsu; Gold sponsors ADVA, Ciena, Ekinops, Infinera, JDSU, MRV, and NEC; and Silver Sponsors EXFO and Lambda Gain. Estimated attendance at Packet-Optical Transport Evolution is between 120 and 150. Only three sponsorship opportunities remain. For more information contact events@lightreading.com.
Press and analyst registration at Packet-Optical Transport Evolution is free. To register please visit: http://www.lightreading.com/packetoptical
Contact:
Amy Averbook
Director of Corporate Marketing
Light Reading Inc.
averbook@lightreading.com
212-925-0020 x112
About Light Reading
Founded in 2000, Light Reading (http://www.lightreading.com/) is the leading online media, research, and focused event company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.
About TechWeb
TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.
*13.3 million business decision-makers: based on number of monthly connections
About United Business Media Limited (http://www.unitedbusinessmedia.com/)
United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.
Light Reading
CONTACT: Amy Averbook, Director of Corporate Marketing of Light Reading Inc., averbook@lightreading.com, +1-212-925-0020 Ext. 112
Web Site: http://www.lightreading.com/
FORTUNE Names EMC the Only Technology Company Among World's 10 Most Admired Companies for Product and Service QualityEMC Named 'Industry Champion' in its Sector for Second Year in a Row
HOPKINTON, Mass., March 5 /PRNewswire/ -- EMC Corporation , the world leader in information infrastructure solutions, is the only technology company among the World's 10 Most Admired Companies for Product and Service Quality, according to FORTUNE magazine's prestigious annual ranking of the "World's Most Admired Companies." The Product and Service Quality rankings are derived from a survey of executives, directors and financial analysts across all industries.
FORTUNE also named EMC "Industry Champion" as the #1 Most Admired Company overall in its industry sector for the second consecutive year. EMC was ranked #1 in all nine individual categories used by the magazine to rank the Most Admired Companies in each industry, including Innovation, People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial Soundness, Long-Term Investment, Quality of Products and Services and Global Competitiveness.
"Product and service quality tops the list of our customers' most critical requirements," said Frank Hauck, EMC Executive Vice President of Global Marketing and Customer Quality. "It is no coincidence that product and service quality is central to the way we measure and run EMC's business, and that this broad cross-section of global executives would rank EMC as the only technology company on such a prestigious list makes us incredibly proud. We are deeply honored to be recognized by FORTUNE, our peers and thousands of executives and analysts among the top echelon of global companies. I want to thank EMC's employees worldwide for their continued commitment to providing our customers with the best total customer experience."
FORTUNE's Most Admired Companies list is widely considered the definitive measure of corporate performance and reputation. This year, the magazine changed its survey format, combining the world's and America's Most Admired surveys into one global survey. To identify the Most Admired Companies, FORTUNE and its partner the Hay Group, survey top executives and boards of directors from the FORTUNE 1000 and Global 500 companies, and financial analysts who rate companies on nine attributes that include innovation, people management, social responsibility, quality of products and services, and global competitiveness.
The Most Admired survey results are featured in the March 16 issue of FORTUNE, and are accessible online at http://money.cnn.com/magazines/fortune/mostadmired/2009/snapshots/670.html.
About FORTUNE
FORTUNE is a global leader in business journalism with a worldwide circulation of more than 1 million and a readership of nearly 5 million, with major franchises including the FORTUNE 500 and the FORTUNE 100 Best Companies to Work For. FORTUNE Live Media extends the brand's mission into live settings, hosting a wide range of annual conferences, including the FORTUNE Global Forum. FORTUNE magazine's online home is CNNMoney.com, the most visited and utilized business destination website.
About EMC
EMC Corporation is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at http://www.emc.com/.
EMC is a registered trademark of EMC Corporation. All other trademarks are the property of their respective owners.
EMC Corporation
CONTACT: Caitlin Noble, +1-508-293-6448, noble_caitlin@emc.com
Web Site: http://www.emc.com/
tw telecom to Present at Investor Conference
LITTLETON, Colo., March 5 /PRNewswire-FirstCall/ -- tw telecom inc. , a leading provider of managed voice and data networking solutions for businesses, will present at the following conference:
Raymond James 30th Annual Institutional Investors Conference
Orlando, FL, Tuesday March 10th @ 8:40am (EDT)
Speakers: Larissa Herda, Chairman, CEO and President
Mark Peters, EVP and CFO
Michael Rouleau, SVP, Business Development and Strategy
The presentation will be webcast. Please visit http://www.twtelecom.com/, "Investor Relations" to listen to the webcast and access the conference materials.
About tw telecom
tw telecom inc., headquartered in Littleton, Colo., provides managed network services, specializing in Ethernet and transport data networking, Internet access, local and long distance voice, VPN, VoIP and security, to enterprise organizations and communications services companies throughout the U.S. As a leading provider of integrated and converged network solutions, tw telecom delivers customers overall economic value, quality service, and improved business productivity. Please visit http://www.twtelecom.com/ for more information.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080626/LATH527LOGO)
Photo: http://www.newscom.com/cgi-bin/prnh/20080626/LATH527LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
tw telecom inc.
CONTACT: investor relations, Carole Curtin, +1-303-566-1000, carole.curtin@twtelecom.com, or media relations, Bob Meldrum, +1-303-566-1354, bob.meldrum@twtelecom.com, both of tw telecom inc.
Web Site: http://www.twtelecom.com/
Telanetix CEO Doug Johnson to Present at 5th Annual Winter Technology ConferenceHosted by Security Research Associates, Inc.
SEATTLE, March 5 /PRNewswire-FirstCall/ -- Telanetix, Inc., (OTC BB: TNXI), a leading IP solutions provider offering video telepresence solutions and next generation voice services to all business market segments, today announced Doug Johnson, Chairman and Chief Executive Officer, will be presenting at the 5th Annual Winter Technology Conference hosted by Security Research Associates, Inc. The conference will be held on Monday, March 9th at the Omni Hotel in San Francisco.
Conference attendees will include a select group of institutional portfolio managers and analysts, and will feature CEO's and CFO's from some of the fastest growing companies in the technology sector. SRA has arranged for webcasting of company presentations during this event. To access the lobby page for the webcast of presenting companies please go to: http://www.wsw.com/webcast/sra8/
For further information about Telanetix, Inc., or this announcement, please contact Sean Carney, Dukas Public Relations, (646) 808-3610, sean@dukaspr.com.
About Telanetix, Inc.
Telanetix is a leading communications solutions provider offering video telepresence solutions and next generation voice services to all business market segments. Telanetix solutions meet the real-world communications demands of its customers with a powerful, cost effective industry-leading proposition. The company's video telepresence offering, called Digital Presence(TM), creates fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment. The company's Voice offerings, marketing under the "AccessLine" brand, give business customers a flexible and cost effective alternative to today's traditional phone service, offering flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers. Additional information may be found at the Telanetix corporate website, http://www.telanetix.com/
About Security Research Associates, Inc.
Security Research Associates, Inc. (SRA) was founded in San Francisco in 1980 and, today, offers investment banking and M&A services as well as institutional brokerage services. A boutique firm by design, SRA works with a select group of portfolio managers from around the country and focuses on technology and life science companies in the micro and small cap arenas. For more information about SRA see our web site at http://www.sracap.com/ or call us at 415-925-0346.
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The companies undertake no obligation to publicly release statements made to reflect events or circumstances after the date hereof.
Telanetix, Inc.
CONTACT: Investor Relations, Paul Quinn of Telanetix, Inc., +1-206-515-9165, pquinn@telanetix.com; or Media, Sean Carney of Dukas Public Relations, +1-646-808-3610, Sean@dukaspr.com, for Telanetix, Inc.
Web Site: http://www.telanetix.com/
Mobile Services to Capture More Advertising Revenue in Emerging Markets, Finds Pyramid Research
CAMBRIDGE, Massachusetts, March 5 /PRNewswire/ --
As market penetration rates for mobile services continue to soar in
emerging markets, advertisers are expected to dramatically increase their
spending on "third-screen" ad campaigns targeted specifically to users of
mobile data services, providing a potentially huge new revenue stream for
operators of mobile networks, according to the latest report by Pyramid
Research (www.pyr.com), the telecom research arm of the Light Reading
Communications Network (www.lightreading.com).
"Mobile Advertising in Emerging Markets" examines mobile advertising
initiatives and the revenue potential in emerging markets, with a particular
emphasis on Brazil, China, Indonesia, Mexico, Romania, Russia, South Africa,
and Turkey. This 84-page report puts Pyramid Research's findings in context
by making comparisons with global trends and developed markets, such as the
U.S. and the U.K. Download an excerpt of this report here:
http://www.pyramidresearch.com/downloads.htm?id=1&sc=PR030509_MOBAD
Pyramid predicts that mobile advertising will boost mobile data service
revenues by 10 percent within the next five years, as mobile service adoption
rates grow worldwide. Mobile data services are expected to account for more
than 33 percent of operators' service revenues at the global level by 2013,
making any driver of this market a strategic component.
The expected growth in mobile data subscriptions will make mobile
advertising a robust growth area despite an expected overall downturn in
advertising spending over the next two years, notes Jan Ten Sythoff, manager
of Mobile Content at Pyramid Research and co-author of the report.
"Fixed-line Internet and mobile platforms will take market share away from
traditional formats in the short term and grow in line with economic recovery
from 2011 onward," says Sythoff. "Mobile and Internet platforms combined will
account for roughly 12 percent of overall advertising spending in emerging
markets and 30 percent in developed countries by 2013."
The Pyramid report identifies eight developing markets in which mobile
advertising initiatives are gaining ground. Combined, these markets will
account for more than 35 percent of mobile subscriptions worldwide by 2013.
"South Africa and Indonesia stand out as markets where the mobile sector's
share of overall advertising spending will surpass that of the Internet
medium as early as 2009," says Sythoff.
"The development of mobile advertising is favorably affected by mobile
networks' evolution to 3G, but even basic services, such as sponsored
messaging and alert systems, are enabling brands to reach a wider audience
and make the most of the mobile channel. For example, SMS-based approaches
can help companies reach more than 60 percent of the mobile audience across
emerging markets immediately and close to all subscribers in five years."
"Mobile Advertising in Emerging Markets" is part of Pyramid's research
report series. A blend of primary research and qualitative analysis,
Pyramid's research reports offer comprehensive coverage of the fixed and
mobile communications space and enable those in the communications industry
to stay ahead of changing market dynamics.
Download an excerpt of this report here:
http://www.pyramidresearch.com/downloads.htm?id=1&sc=PR030509_MOBAD
Mobile Advertising in Emerging Markets is priced at US$2490 and can be
purchased online here
(http://www.pyramidresearch.com/store/RPMOBILEADVERTISING0902.htm?sc=PR030509
_MOBAD) or through Dave Williams via email at dave.williams@pyr.com or
telephone at +1-858-485-8870.
About Pyramid Research
Pyramid Research (http://www.pyr.com) offers practical solutions to the
complex demands our clients face in the telecommunications, media, and
technology industries. Our analysis is uniquely positioned at the
intersection of emerging markets, emerging technologies, and emerging
business models, powered by the bottom-up methodology of our market forecasts
for over 100 countries -- a distinction that has remained unmatched for over
25 years. As the telecom research arm of the Light Reading Communications
Network, Pyramid Research works with Heavy Reading, providing the
communications industry's most comprehensive market data, trusted research,
and insightful technology analysis.
About Light Reading
Founded in 2000, Light Reading (http://www.lightreading.com) is the
leading online media, research, and focused event company serving the US$3
trillion worldwide communications market. Lightreading.com is the ultimate
source for technology and financial analysis of the communications industry,
leading the media sector in terms of traffic, content, and reputation. Light
Reading's research arms, Heavy Reading and Pyramid Research, provide the most
comprehensive communications research, market data, and technology analysis
in close to 100 markets around the world. Light Reading produces nearly 20
targeted communications events including TelcoTV, Ethernet Expo New York and
Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as
focused one-day events tailored for cable, mobile, and wireline executives.
Light Reading was acquired by United Business Media in August 2005 and
operates as a unit of TechWeb.
About TechWeb
TechWeb (http://techweb.com/aboutus), the global leader in business
technology media, is an innovative business focused on serving the needs of
technology decision-makers and marketers worldwide. TechWeb produces the most
respected and consumed media brands in the business technology market. Today,
more than 13.3 million* business technology professionals actively engage in
our communities created around our global face-to-face events, Interop, Web
2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network,
Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and
The Financial Technology Network; and the market leading, award-winning
InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street &
Technology magazines. TechWeb also provides end-to-end services including
next-generation performance marketing, integrated media, research, and
analyst services. TechWeb is a division of United Business Media, a global
provider of news distribution and specialist information services with a
market capitalization of more than US$2.5 billion.
*13.3 million business decision-makers: based on number of monthly
connections
About United Business Media Limited (http://www.unitedbusinessmedia.com)
United Business Media Limited (UBM) is a global media and marketing
services company that informs markets and brings the world's buyers and
sellers together at events, online, in print, and with the information they
need to do business successfully. UBM serves professional and commercial
communities, from IT professionals to doctors, from journalists to jewelry
dealers, from farmers to pharmacists around the world. UBM employs more than
6,500 people in more than 30 countries. UBM's businesses operating in the US
include CMPMedica, Commonwealth Business Media, Everything Channel, PR
Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on
the London Stock Exchange (UBM.L) and has a market capitalization of US$2.5
billion.
Press contact:
Jennifer Baker
+1-617-871-1910
jbaker@pyr.com
Pyramid Research
Jennifer Baker, +1-617-871-1910, jbaker@pyr.com, for Pyramid Research
Spectrum Control to Release First Quarter Results and Host Conference Call on March 26, 2009
FAIRVIEW, Pa., March 5 /PRNewswire-FirstCall/ -- Spectrum Control, Inc. , a leading designer and manufacturer of electronic control products and systems, announced today that it will release its first quarter results on Thursday, March 26, 2009, after the close of the market. Following the release, Spectrum Control will host a conference call at 4:45 PM, Eastern Time, to discuss the Company's operating results for the quarter ended February 28, 2009 and the current business outlook.
The call will be available as a live web cast via the Internet at http://www.spectrumcontrol.com/ or http://www.vcall.com/. Please allow 15 minutes to register, download and install any necessary audio software. A replay of the conference call will be available through March 27, 2009, at 877-660-6853, access account 286, conference 315859 or for 30 days over the Internet at the Company's website.
About Spectrum Control
Spectrum Control, Inc. is a leader in the design, development and manufacture of custom electronic products and systems for the defense, aerospace, communications, and medical industries worldwide.
For more information, please visit our website at http://www.spectrumcontrol.com/.
Spectrum Control, Inc.
CONTACT: Corporate Headquarters: +1-814-474-2207, Fax: +1-814-474-2208; or Investor Relations, John P. Freeman, Senior Vice President and Chief Financial Officer of Spectrum Control, Inc., +1-814-474-4364
Web Site: http://www.spectrumcontrol.com/
WPCS Announces Date for Release of Third Quarter FY2009 Financial Results
EXTON, Pa., March 5 /PRNewswire-FirstCall/ -- WPCS International Incorporated (WPCS) , a leader in design-build engineering services for communications infrastructure, has announced that it will issue its FY2009 third quarter financial results on Tuesday March 17, 2009 at approximately 4:00 pm ET to be followed by a conference call scheduled for 5:00 pm ET. The financial results are for the quarter ended January 31, 2009.
To participate on the conference call, please dial 888-299-4099 for calls within the U.S. and 302-709-8337 for calls from international locations. Upon reaching the operator, verbally transmit the participant code VH80444.
Andrew Hidalgo, CEO of WPCS, will be discussing the company's financial results, market conditions and strategic initiatives underway. When the overview concludes, your questions can be asked by pressing *1 and your questions can be removed from the queue by pressing the number sign. Replays of the conference call will be available for a period of five days by dialing 402-220-2946 and using 80444 # as the pass code.
About WPCS International Incorporated:
WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit http://www.wpcs.com/.
Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.
CONTACT:
WPCS International Incorporated
610-903-0400 x101
ir@wpcs.com
WPCS International Incorporated
CONTACT: WPCS International Incorporated, +1-610-903-0400 x101, ir@wpcs.com
Web Site: http://www.wpcs.com/
Certicom Reports Third Quarter Results
MISSISSAUGA, ON, March 5 /PRNewswire-FirstCall/ -- Certicom Corp. (TSX:CIC) ("Certicom" or the "Company") today reported results for the third quarter ended January 31, 2009. All figures are in U.S. dollars and presented in accordance with Canadian Generally Accepted Accounting Principles (GAAP), except where otherwise noted.
Revenue for the quarter was $6.9 million, compared to $6.1 million in the third quarter last year. Year-to-date, revenue was $17.7 million, up 35% from $13.1 million in the same period of fiscal 2008. The majority of the revenue growth was due to the Company's sale of higher value solutions focused on the Energy & Utilities and Semiconductor sectors.
"We have continued with the momentum in building a stronger revenue stream from our new market verticals - Energy & Utilities and Semiconductors - and we are currently on track in achieving the objectives of our three-year plan. In spite of the challenging economic environment, Certicom continues to develop significant opportunities in "smart energy" and "smart grid" initiatives in the energy sector. And, we are helping semiconductor companies reduce their operating costs," said Karna Gupta, CEO.
Operating Highlights for the Quarter
- Acquisition of Certicom by Research In Motion Limited announced.
- Certicom launched its new Asset Management System, which is being
implemented by global leaders in semiconductor manufacturing to
help lower their inventory and supply chain costs and enhance their
competiveness.
- Certicom's Asset Management System has been deployed by nVidia and
other leading companies in the semiconductor market.
- Certicom's Device Authentication Service for ZigBee Smart Energy
shipped more than 500,000 certificates for smart metering devices
to help utilities and customers achieve more efficient energy
consumption.
- Certicom announced that 10 leading suppliers licensed the Company's
Smart Energy technology to address ZigBee Alliance smart energy
markets.
Subsequent to Quarter-end
- Certicom's Board of Directors recommends that shareholders approve
Research In Motion Limited's proposed acquisition of Certicom. A
Special Meeting of shareholders to approve the acquisition will be
held on March 18, 2009.
Financial Review
Revenue for the quarter was $6.9 million, compared to $6.1 million in the third quarter of 2008. Year-to-date, revenue was $17.7 million, up 35% from $13.1 million reported for the same period last year. The Company's strategic focus on larger, higher value contracts, along with other new initiatives, were the main drivers of revenue growth. The revenue distribution for the nine-month period was 36% from toolkit licences, 24% from higher valued solutions being deployed to verticals such as Energy and Utilities and Semiconductors, 16% from professional services, and the balance from maintenance and intellectual property. Thirty-nine percent of the year-to-date revenue came from new customers and 30% from new contracts. This distribution is in line with the Company's strategic plan. During the third quarter, recurring revenue was $2.4 million, compared to $2.4 million in the prior quarter and $2.0 million in the same quarter of fiscal 2008.
Operating expenses, excluding the Sony litigation and M&A related costs, were $6.7 million in the third quarter of 2009 compared to $5.6 million for the same period in 2008. For the nine month period, operating expenses, excluding Sony litigation and M&A related costs, were $19.5 million, compared to $17.0 million for the same period last year. The higher expenses were due mainly to accelerated product development initiatives along with one time management restructuring costs.
Expenses related to the Sony litigation were $1.7 million in the third quarter, compared to $0.3 million in the same period for 2008. On a year-to-date basis, expenses related to the Sony litigation were $4.6 million, compared to $1.3 million in the same period for 2008. M&A related expenses in the third quarter of 2009, which were not incurred in fiscal 2008, were $1.7 million.
The Company posted an operating profit(3) of $0.2 million in the third quarter, excluding Sony and acquisition related activities, and reported a net loss for the third quarter of $3.6 million, or $0.08 per basic and diluted share, compared to a net loss of $0.2 million, or $0.00 per basic and diluted share, in the third quarter of 2008. Year-to-date, the net loss was $9.5 million, or $0.22 per basic and diluted share, compared to a net loss of $6.4 million, or $0.15 per basic and diluted share, in the same nine-month period in 2008.
Certicom had $31.1 million of cash on hand at the end of the third quarter and remains debt free. Subsequent to the quarter end, Certicom paid a $3.3 million (Cdn$4.0 million) fee to terminate its Arrangement Agreement with Verisign in accordance with the terms of that agreement.
Proposed Acquisition of Certicom by Research In Motion Limited
A Special Committee of independent Directors was formed in early December after an unsolicited bid of Cdn$1.50 per share for the acquisition of Certicom was announced by Research In Motion Limited ("RIM"). The committee, supported by the Company management and by its financial and legal advisors, conducted a shareholder value maximization process involving the participation of several interested parties.
On February 10, 2009, Certicom announced that it had accepted a proposal from RIM to acquire all of Certicom's outstanding common shares at a cash price of Cdn$3.00 per common share. The board unanimously recommends that shareholders vote in favour of the acquisition. To this end, a special meeting for shareholders of record as of 5:00 p.m (Toronto time) on February 20, 2009 has been convened for Wednesday, March 18, 2009. Details of the meeting are set out in an information circular mailed to Certicom shareholders on February 23, 2009, which is also available on SEDAR and Certicom's website at http://www.certicom.com/.
Commenting on the transaction, Chairman of the Board Jeff Chisholm, said, "As a long serving member of the Board, I am gratified by the recognition Certicom has received as the global leader in Elliptic Curve Cryptography technology and comprehensive security solutions for a wide range of market verticals. Certicom employees should be rightfully proud that their hard work, especially given the harsh economic environment of the past year, has created significant value for the Company and its shareholders."
About Certicom
Certicom manages and protects the value of content, applications and devices with government-approved security. Adopted by the National Security Agency (NSA) for government communications, Elliptic Curve Cryptography (ECC) provides the most security per bit of any known public-key scheme. As the global leader in ECC, Certicom's security offerings are currently licensed to hundreds of multinational technology companies, including IBM, General Dynamics, Motorola, Oracle and Research In Motion. Founded in 1985, Certicom's corporate offices are in Mississauga, Ontario, Canada with worldwide sales and marketing headquarters in Reston, Virginia and offices in Europe and Asia. Visit http://www.certicom.com/
Certicom, Certicom Security Architecture, Certicom Trust Infrastructure,
Certicom CodeSign, Certicom KeyInject, Security Builder, Security Builder
API, Security Builder BSP, Security Builder Crypto, Security Builder ETS,
Security Builder GSE, Security Builder IPSec, Security Builder NSE,
Security Builder PKI and Security Builder SSL are trademarks or
registered trademarks of Certicom Corp. All other companies and products
listed herein are trademarks or registered trademarks of their respective
holders. Information subject to change.
ENDNOTES:
---------
1. This news release contains references to operating expenses. Certicom
defines operating expenses as total operating expenses excluding
depreciation and amortization and stock-based compensation. It also
excludes interest income, other income (expense) and withholding tax
expense.
-------------------------------------------------------------------------
Three months ended Nine months ended
---------------------------------------
January 31, January 31,
2009 2008 2009 2008
---------------------------------------
Cost of revenues $ 902 $ 826 $ 2,633 $ 2,442
Sales and marketing 2,215 1,955 7,108 5,950
Product development and
engineering 2,437 1,753 6,507 5,162
General and administrative 4,520 1,381 9,583 4,683
--------- --------- --------- ---------
Total operating expenses $ 10,074 $ 5,915 $ 25,831 $ 18,237
Less: Litigation (1,660) (281) (4,636) (1,270)
M&A related expenses (1,742) - (1,742) -
--------- --------- --------- ---------
Total operating expenses
excluding litigation $ 6,672 $ 5,634 $ 19,453 $ 16,967
--------- --------- --------- ---------
--------- --------- --------- ---------
2. This news release contains references to cash, which is defined as
cash and cash equivalents, short term and long term marketable securities
and restricted cash.
January 31, April 30,
2009 2008
Cash and cash equivalents $ 11,128 $ 1,641
Marketable securities 19,991 25,980
Long-term marketable securities - 10,832
-------------------
Total Cash $ 31,119 $ 38,453
-------------------
3. This new release contains reference to operating profit, which is
defined as Loss from Operations less, depreciation and amortization,
Stock-based compensation,, Sony litigation and acquisition expenses.
Three months ended
January 31, 2009
-------------------
Loss from operations $ (3,846)
Less: Depreciation & amortization 313
Stock-based compensation 340
Sony litigation 1,660
Acquisition 1,742
-------------------
Operating profit $ 209
-------------------
CERTICOM CORP.
CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
CANADIAN GAAP
January 31, April 30,
2009 2008
---------- ----------
(Unaudited) (Audited)
ASSETS
Current assets:
Cash and cash equivalents....................... $ 11,128 $ 1,641
Marketable securities........................... 19,991 25,980
Accounts receivable, net........................ 5,264 5,426
Unbilled receivables............................ 315 503
Prepaid expenses and other
current assets................................. 560 659
---------- ----------
Total current assets.......................... 37,258 34,209
Long-term marketable securities................... - 10,832
Property and equipment, net....................... 966 1,173
Patents, net...................................... 3,103 2,776
Other assets...................................... 24 24
---------- ----------
Total assets.................................. $ 41,351 $ 49,014
---------- ----------
---------- ----------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable................................ $ 3,117 $ 2,255
Accrued liabilities............................. 3,805 2,332
Deferred revenue................................ 3,954 5,123
Obligation under capital lease.................. 13 17
Current portion of lease inducements............ 47 52
---------- ----------
Total current liabilities..................... 10,936 9,779
Other long-term payables.......................... 718 718
Obligation under capital lease, long-term......... 13 30
Lease inducements, net of current portion......... - 35
---------- ----------
Total liabilities............................. 11,667 10,562
Shareholders' equity:
Share capital................................... 38,717 38,624
Contributed surplus............................. 10,508 9,021
Deficit......................................... (18,655) (9,131)
Accumulated other comprehensive loss............ (886) (62)
---------- ----------
Total shareholders' equity.................... 29,684 38,452
---------- ----------
Total liabilities and shareholders' equity.... $ 41,351 $ 49,014
---------- ----------
---------- ----------
CERTICOM CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
(In thousands of U.S. dollars, except number of shares
and per share data)
(Unaudited)
CANADIAN GAAP
Three months ended Nine months ended
January 31, January 31,
2009 2008 2009 2008
-------- -------- -------- ---------
Revenues:
Product and intellectual
property..................... $ 5,164 $ 4,409 $ 12,483 $ 7,460
Services...................... 1,717 1,671 5,212 5,626
-------- -------- -------- ---------
Total revenues.............. 6,881 6,080 17,695 13,086
Cost of revenues:
Product and intellectual
property..................... 124 - 330 12
Services...................... 778 826 2,303 2,430
-------- -------- -------- ---------
Total cost of revenues...... 902 826 2,633 2,442
-------- -------- -------- ---------
Gross margin.................... 5,979 5,254 15,062 10,644
Operating expenses:
Sales and marketing........... 2,215 1,955 7,108 5,950
Product development and
engineering.................. 2,437 1,753 6,507 5,162
General and administrative.... 4,520 1,381 9,583 4,683
Depreciation and
amortization................. 313 356 915 994
Stock-based compensation
(Note 7)..................... 340 475 1,485 1,686
-------- -------- -------- ---------
Total operating expenses.... 9,825 5,920 25,598 18,475
-------- -------- -------- ---------
Loss from operations............ (3,846) (666) (10,536) (7,831)
Other income:
Interest income............... 217 461 967 1,447
Interest expense and other
income (expense), net........ 44 31 58 29
-------- -------- -------- ---------
Total other income.......... 261 492 1,025 1,476
-------- -------- -------- ---------
Loss before provision for
income taxes................... (3,585) (174) (9,511) (6,355)
Provision for income taxes.... 2 - 13 19
-------- -------- -------- ---------
Loss for the period............. $ (3,587) $ (174) $ (9,524) $ (6,374)
Deficit, beginning of period.... (15,068) (4,831) (9,131) 1,369
-------- -------- -------- ---------
Deficit, end of period.......... $(18,655) $ (5,005) $(18,655) $ (5,005)
-------- -------- -------- ---------
-------- -------- -------- ---------
Basic and diluted net loss
per share (Note 5)............. $ (0.08) $ 0.00 $ (0.22) $ (0.15)
-------- -------- -------- ---------
-------- -------- -------- ---------
Shares used in basic and
diluted net loss per share
calculations (000s) (Note 5)... 43,746 43,669 43,708 43,545
-------- -------- -------- ---------
-------- -------- -------- ---------
CERTICOM CORP.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands of U.S. dollars)
(Unaudited)
CANADIAN GAAP
Three months ended Nine months ended
January 31, January 31,
2009 2008 2009 2008
-------- -------- -------- ---------
Loss for the period............. $ (3,587) $ (174) $ (9,524) $ (6,374)
Other comprehensive income:
Net unrealized gain (loss)
on derivatives designated
as cash flow hedges
(Note 4)..................... 420 (1,275) (824) (218)
-------- -------- -------- ---------
Comprehensive loss.............. $ (3,167) $ (1,449) $(10,348) $ (6,592)
-------- -------- -------- ---------
-------- -------- -------- ---------
CERTICOM CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
(Unaudited)
CANADIAN GAAP
Three months ended Nine months ended
January 31, January 31,
2009 2008 2009 2008
-------- -------- -------- ---------
Cash flows from operating
activities:
Loss for the period........... $ (3,587) $ (174) $ (9,524) $ (6,374)
Adjustments to reconcile
loss to net cash provided
by (used in) operating
activities:
Depreciation and
amortization............... 313 356 915 994
Stock-based
compensation............... 340 475 1,485 1,686
Amortization of lease
inducements................ (13) (13) (39) (39)
Changes in operating assets
and liabilities:
Accounts receivable and
unbilled receivables..... 461 (997) 350 1,815
Prepaid expenses and other
assets................... 52 168 99 216
Accounts payable.......... 200 (823) 862 (1,120)
Accrued liabilities....... 385 476 1,473 (477)
Deferred revenue.......... (480) (955) (1,169) (1,634)
Obligation under capital
lease.................... (6) 53 (21) 53
Other payables............ 420 - (824) (28)
-------- -------- -------- ---------
Net cash used in
operating activities... (1,915) (1,434) (6,393) (4,908)
Cash flows from investing
activities:
Purchase of property and
equipment.................... (75) (171) (400) (604)
Purchase of patents........... (191) (194) (621) (848)
Net maturity of marketable
securities................... 9,211 4,004 16,821 6,190
-------- -------- -------- ---------
Net cash provided by
(used in) investing
activities 8,945 3,639 15,800 4,738
Cash flows from financing
activities:
Proceeds from issuance of
common stock, net............ 41 3 93 2,094
Common shares repurchased
(Note 5)..................... - - - (306)
-------- -------- -------- ---------
Net cash provided by
financing activities... 41 3 93 1,788
Effect of exchange rate on cash
and cash equivalents........... (12) - (13) -
-------- -------- -------- ---------
Net increase (decrease) in cash
and cash equivalents........... (7,059) 2,208 9,487 1,618
Cash and cash equivalents,
beginning of period............ 4,069 2,807 1,641 3,397
-------- -------- -------- ---------
Cash and cash equivalents,
end of period.................. $ 11,128 $ 5,015 $ 11,128 $ 5,015
-------- -------- -------- ---------
-------- -------- -------- ---------
Certicom Corp.
CONTACT: Investors and Financial Analysts: Herve Seguin, Chief Financial Officer, Certicom Corp., (905) 501-3827, hseguin@certicom.com, http://www.certicom.com/
Developing Markets Will Fuel Telecom Capex Recovery in 2010, Report FindsTelecom capex will begin growing in 2010 due to increased spending and new market expansion, says Light Reading Insider
NEW YORK, March 5 /PRNewswire/ -- Despite the current worldwide economic downturn, telecom capital expenditure (capex) will begin to grow again in 2010, fueled by increased government spending and by expansion of service offerings into new markets, according to the latest report from Light Reading Insider (http://www.lightreading.com/insider), a paid research service of TechWeb's Light Reading (http://www.lightreading.com/).
After the Freeze: A Five-Year Telecom Capex Forecast examines the impact of the economic downturn on telecom investment around the world, and offers forecasts for global capex between 2008 and 2013. It investigates the likely trends in different geographical regions and identifies national and technological markets that are likely to see growth in 2009 and beyond.
For a list of companies analyzed in this report, please see:
http://img.lightreading.com/lri/pdf/lri0309companies.pdf
"The global economic downturn has prompted a rash of earnings warnings, and has led to a horde of telecom operators announcing cost-cutting initiatives," says Danny Dicks, research analyst for Light Reading Insider. "There are geographic locations and technology markets that, if not offering huge growth potential over the next year or two, will offer some growth and some places of refuge for vendors."
Globally, markets are reacting differently in the face of a hurting economy, Dicks notes. "There are highs and lows in terms of infrastructure investment across all the major geographic blocks," Dicks says. "In spite of the gloomy headlines, it looks as if there a lot of new network construction underway or imminent around the world."
Key findings of After the Freeze: A Five-Year Telecom Capex Forecast include:
-- Global telecom capex is expected to begin growing again in 2010, after
a slight contraction in 2009
-- Government stimulus, operator investment in new broadband
technologies, and the awarding of new mobile licenses will drive new
infrastructure spending
-- Spending on mobile and fixed backhaul infrastructure has overtaken
spending on fixed access networks
-- Capex growth will be strongest in the Asia/Pacific region, which will
present challenges to incumbent Western vendors
-- Africa and the Middle East will be the fastest-growing markets, but
their total capex will still account for less than 10 percent of
worldwide spending in 2013
After the Freeze: A Five-Year Telecom Capex Forecast is available as part of an annual single-user subscription (12 monthly issues) to Light Reading Insider, priced at $1,595. Individual reports are available for $900 (single-user license).
To subscribe, or for more information, please visit: http://www.lightreading.com/insider. For more information on all of Light Reading's Insider services, please visit http://www.lightreading.com/research.
To request a free executive summary of the report, or for details on multi-user licensing options, please contact:
Jeff Claudino
Director of Sales
Insider Research Services
619-229-9940
claudino@lightreading.com
Press/analyst contact:
Dennis Mendyk
Managing Director
Insider Research Services
201-587-2154
mendyk@heavyreading.com
About Light Reading
Founded in 2000, Light Reading (http://www.lightreading.com/) is the leading online media, research, and focused event company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.
About TechWeb
TechWeb (techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events Interop, Web 2.0, Black Hat and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, Wall Street & Technology magazines. TechWeb also provides end-to-end services ranging from next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.
* 13.3 million business decision-makers: based on # of monthly connections
About United Business Media Limited (http://www.unitedbusinessmedia.com/)
United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.
Light Reading Insider
CONTACT: Press/analyst contact, Dennis Mendyk, Managing Director, Insider Research Services, +1-201-587-2154, mendyk@heavyreading.com
Web Site: http://img.lightreading.com/lri/pdf/lri0309companies.pdf
Boeing Expands Electronic Flight Bag OfferingsHardware provides customers the flexibility they want in an EFB solution
SEATTLE, March 5 /PRNewswire-FirstCall/ -- Today Boeing announced an agreement with Esterline CMC Electronics to provide Class 2 Electronic Flight Bag (EFB) hardware on selected airplane models for production and retrofit, starting with the Next-Generation 737. A second provider will be announced later.
"Boeing is providing the very important elements of end-to-end integration as well as commonality across EFB classes. Many Class 2 providers offer no integration, leaving it to be done by the airline. This can add unanticipated cost and increase technical and schedule risk," said Robert Manelski, director of Crew Information Services, Commercial Aviation Services, Boeing Commercial Airplanes. "Our EFB solution is fully integrated, allowing customers the flexibility they want, with Boeing support throughout the life cycle of the product."
Boeing is developing a common application suite and ground infrastructure for use across Class 1, 2, and 3 EFBs to maximize the value of the EFB infrastructure by including Boeing and Jeppesen applications and data.
"This selection of our PilotView(R) EFB makes the most of our strengths in Class 2 hardware delivery and combines it with Boeing's strengths in data delivery and integration," said Jean-Pierre Morteux, CMC Electronics president and chief executive officer. "We believe this combination will offer the flexibility that customers are seeking."
The EFB contains all documentation and forms that pilots carry -- aeronautical maps and charts, manuals, minimum equipment lists and logbooks -- in digital format and puts them at the crew's fingertips. The Boeing system provides an integrated solution from the airplane to the airline's back office and offers value through improved operational efficiencies.
In October 2003, Boeing became the first to have a Class 3 EFB certified and integrated on the 777 fleet . Since then, Boeing has certified the Boeing Class 3 EFB for the Next-Generation 737, 757, 767 and 747-400 models and has made it standard on the 787 Dreamliner and Boeing Business Jets. Boeing currently has more than 1,000 Class 3 EFBs on order.
Contact: Jennifer Hawton, Boeing Commercial Airplanes, +1 425-444-1600
Boeing
CONTACT: Jennifer Hawton of Boeing Commercial Airplanes, +1-425-444-1600
Web Site: http://www.boeing.com/
Mobile Services to Capture More Advertising Revenue in Emerging Markets, Finds Pyramid Research
CAMBRIDGE, Mass., March 5 /PRNewswire/ -- As market penetration rates for mobile services continue to soar in emerging markets, advertisers are expected to dramatically increase their spending on "third-screen" ad campaigns targeted specifically to users of mobile data services, providing a potentially huge new revenue stream for operators of mobile networks, according to the latest report by Pyramid Research (http://www.pyr.com/), the telecom research arm of the Light Reading Communications Network (http://www.lightreading.com/).
"Mobile Advertising in Emerging Markets" examines mobile advertising initiatives and the revenue potential in emerging markets, with a particular emphasis on Brazil, China, Indonesia, Mexico, Romania, Russia, South Africa, and Turkey. This 84-page report puts Pyramid Research's findings in context by making comparisons with global trends and developed markets, such as the U.S. and the U.K. Download an excerpt of this report here: http://www.pyramidresearch.com/downloads.htm?id=1&sc=PR030509_MOBAD
Pyramid predicts that mobile advertising will boost mobile data service revenues by 10 percent within the next five years, as mobile service adoption rates grow worldwide. Mobile data services are expected to account for more than 33 percent of operators' service revenues at the global level by 2013, making any driver of this market a strategic component.
The expected growth in mobile data subscriptions will make mobile advertising a robust growth area despite an expected overall downturn in advertising spending over the next two years, notes Jan Ten Sythoff, manager of Mobile Content at Pyramid Research and co-author of the report. "Fixed-line Internet and mobile platforms will take market share away from traditional formats in the short term and grow in line with economic recovery from 2011 onward," says Sythoff. "Mobile and Internet platforms combined will account for roughly 12 percent of overall advertising spending in emerging markets and 30 percent in developed countries by 2013."
The Pyramid report identifies eight developing markets in which mobile advertising initiatives are gaining ground. Combined, these markets will account for more than 35 percent of mobile subscriptions worldwide by 2013. "South Africa and Indonesia stand out as markets where the mobile sector's share of overall advertising spending will surpass that of the Internet medium as early as 2009," says Sythoff.
"The development of mobile advertising is favorably affected by mobile networks' evolution to 3G, but even basic services, such as sponsored messaging and alert systems, are enabling brands to reach a wider audience and make the most of the mobile channel. For example, SMS-based approaches can help companies reach more than 60 percent of the mobile audience across emerging markets immediately and close to all subscribers in five years."
"Mobile Advertising in Emerging Markets" is part of Pyramid's research report series. A blend of primary research and qualitative analysis, Pyramid's research reports offer comprehensive coverage of the fixed and mobile communications space and enable those in the communications industry to stay ahead of changing market dynamics.
Download an excerpt of this report here: http://www.pyramidresearch.com/downloads.htm?id=1&sc=PR030509_MOBAD
Mobile Advertising in Emerging Markets is priced at $2490 and can be purchased online here (http://www.pyramidresearch.com/store/RPMOBILEADVERTISING0902.htm?sc=PR030509_ MOBAD) or through Dave Williams via email at dave.williams@pyr.com or telephone at +1 858-485-8870.
About Pyramid Research
Pyramid Research (http://www.pyr.com/) offers practical solutions to the complex demands our clients face in the telecommunications, media, and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies, and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries -- a distinction that has remained unmatched for over 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry's most comprehensive market data, trusted research, and insightful technology analysis.
About Light Reading
Founded in 2000, Light Reading (http://www.lightreading.com/) is the leading online media, research, and focused event company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.
About TechWeb
TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.
*13.3 million business decision-makers: based on number of monthly connections
About United Business Media Limited (http://www.unitedbusinessmedia.com/)
United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.
Press contact:
Jennifer Baker
+1 617 871-1910
jbaker@pyr.com
Pyramid Research
CONTACT: Jennifer Baker, +1-617-871-1910, jbaker@pyr.com, for Pyramid Research
Web Site: http://techweb.com/aboutus
GoAdv: Chiffre d'affaires annuel - Très belle année 2008 : + 88%
PARIS, March 5 /PRNewswire/ --
- Chiffre d'affaires de 37,9 MEUR, en croissance de + 88%
- Projet de rapprochement amical avec leGuide.com pour créer un leader
des media shopping online européen
GoAdv a réalisé en 2008 un chiffre d'affaires(1) de 37,9
millions d'euros contre 20,2 millions d'euros en 2007(2), en croissance de
88%. Au quatrième trimestre, la croissance reste soutenue dans un contexte
économique pourtant plus délicat, avec un chiffre d'affaires de 10,0 MEUR en
progression de 28%(3).
Ainsi, depuis sa création l'activité du Groupe progresse à un rythme très
soutenu grâce à une stratégie de développement offensive alliant croissance
interne et intégration réussie du portail Excite.
GoAdv a poursuivi son développement à l'international en ouvrant de
nouveaux bureaux à Casablanca (Maroc) fin 2008. Cette base opérationnelle
abrite des fonctions de back-office, incluant le développement de contenus
éditoriaux en langues francophone et hispanophone. Faisant suite à
l'inauguration de bureaux à Manille (Philippines) qui fournissent des
contenus en anglais, cette ouverture renforce la capacité du groupe à
produire des contenus éditoriaux à bas coût pour les sites du groupe dans les
langues de leurs lecteurs.
Au cours du trimestre, le portefeuille de services et de produits du
groupe s'est également étoffé. Avec le lancement du marque-page numérique
Excite Bookmarks, le portail européen de divertissement Excite a renforcé sa
dimension de media social, déjà existante par des outils de blogging et
d'agrégation de flux.
Le groupe GoAdv, media on-line spécialiste de la génération et de la
monétisation de trafic sur Internet, a également optimisé et élargi ses
campagnes publicitaires pour augmenter le retour sur investissement des
partenaires et des clients.
Luca Ascani, Co-fondateur et Président Directeur Général de GoAdv déclare
: << Cette année est conforme aux objectifs de développement que nous nous
sommes fixés depuis la création du Groupe et ce dans un contexte économique
plus délicat. 2008 a été une nouvelle année d'expansion internationale, de
déploiement d'Excite en Europe depuis son acquisition fin 2007 et de
consolidation des fondamentaux du groupe sur l'ensemble de ses marchés clés.
>>
Le 16 février, GoAdv a annoncé son projet de rapprochement amical avec
LeGuide.com en vue de créer le premier acteur en Europe et en France des
média shopping online, l'unique << pure player >> de ce secteur ayant une
telle présence géographique, et détenant des media dans huit langues.
Ce projet de rapprochement répond à une logique industrielle et une
vision stratégique ambitieuse qui sera rapidement créatrice de valeur pour le
nouvel ensemble constitué et ses actionnaires.
Le nouvel ensemble, composé des sites de GoAdv (Excite et Better Deals)
et des sites de LeGuide.com (LeGuide.com et Dooyoo) disposerait d'une palette
de produits media complète pour accompagner l'internaute dans son acte
d'achat : du contenu des offres à la comparaison de prix et aux commentaires
des utilisateurs.
GoAdv détient à ce jour 395 648 actions LeGuide.com, soit 11,8 % du
capital et 10,8 % des droits de vote (4) et précise avoir déclaré auprès de
la société le 18 décembre dernier le franchissement à la hausse des seuils de
5 % et 10 % en capital et droits de vote, franchissements de seuils réalisés
en date du 12 décembre 2008.
Le visa de l'AMF est attendu prochainement et donnera aux actionnaires
tous les détails des modalités.
Prochaine communication financière :
23 avril 2009 : Résultats annuels 2008
A propos de GoAdv - ISIN FR0010500975 - MNEMO: ALGOA
Depuis sa création en 2004 par Luca Ascani et Salvatore Esposito, GoAdv
est devenu un des spécialistes européens de la génération de trafic qualifié
sur Internet.
Entreprise rentable et en forte croissance, GoAdv affichait un chiffre
d'affaires de 20 MEUR fin 2007 et de 27,9 MEUR au 30 septembre 2008 (données
9 mois), grâce à l'effet combiné d'une croissance organique forte et de
l'intégration réussie du portail Excite. Réalisée fin 2007, cette première
opération de croissance externe a permis à Excite d'être redéployé rapidement
dans huit pays européens et d'enregistrer un quasi triplement de ses visites.
Avec plus de 110 collaborateurs répartis au sein de structures
installées en Italie, en Irlande et en France, le groupe déploie ses
activités dans les principaux pays européens : Royaume-Uni, Allemagne, Pays
Bas, France, Italie, Espagne, Suède et Pologne.
---------------------------------
(1) Données non auditées
(2) Chiffre d'affaires pro forma consolidé 2007 (Intégration d'Excite au
premier janvier 2007).
(3) Le chiffre d'affaires pro forma du quatrième trimestre 2007 s'est
élevé à 7,8 millions d'euros.
(4) Sur la base d'un capital composé de 3 347 829 actions représentant 3
657 154 droits de vote au 29 avril 2008, d'après l'information
publiée par LeGuide.com conformément à l'article L 233-8 du Code de
commerce.
GoAdv SA
Contacts, GoAdv, Amanda Lorenzani, Head of Media Relations, lorenzani@goadv.com; Hervé Guyot, Investor Relations, guyot@goadv.com; Euroland Finance - Listing Sponsor, Julia Temin - jtemin@euroland-finance.com, Tel : +33(0)1-44-70-20-84; Citigate Dewe Rogerson - Relations presse, Agnès Villeret / Lucie Larguier, Tel : +33(0)1-53-32-78-95 / +33(0)1-53-32-84-75, agnes.villeret@citigate.fr/lucie.larguier@citigate.fr
Verizon Foundation Announces Availability of $25,000 in Education GrantsFunds Will Enable Rhode Island Public Schools to Use Thinkfinity.org to Prepare Students for the 21st Century
PROVIDENCE, R.I., March 5 /PRNewswire/ -- The Verizon Foundation is helping Rhode Island public schools better prepare students to succeed in the 21st century. Amid the increased focus on student achievement, public schools across Rhode Island are invited to apply for grants that use the Verizon Foundation's Thinkfinity.org, an online education resource, to improve student learning.
The foundation will award grants of $5,000 each -- a total of $25,000 -- to five public schools across Rhode Island to integrate Thinkfinity.org into the classroom. Thinkfinity.org is the Verizon Foundation's comprehensive online portal that offers more than 55,000 educational and literacy resources for teachers, parents and students. Resources include standards-based, grade-specific, K-12 lesson plans and engaging interactive activities provided in partnership with many of the nation's leading educational and literacy organizations.
"Thinkfinity.org is a great education tool that helps educators prepare students for the 21st century, and helps the students reach their full potential," said Donna Cupelo, Verizon region president of New England. "We want to encourage public school educators to use Thinkfinity.org in the classroom to help our children gain the skills needed to be successful in a global economy."
More information on the grant process is available at http://www.verizon.com/ri. Interested public schools should apply by April 6.
The Verizon Foundation recently awarded $25,000 to support a partnership with RI NET and the Rhode Island Department of Elementary and Secondary Education to train teachers to use Thinkfinity.org in the classroom. The partnership is providing professional-development opportunities to classroom and pre-service teachers statewide through on-site and online training, and resources to create a Rhode Island network of Thinkfinity trainers.
The Web site offers teachers resources across eight academic disciplines, from science to English to mathematics, to improve student achievement. Thinkfinity.org is designed to help teachers gain access to lesson plans, interactive activities, primary sources, references and other authoritative resources that can be searched by grade level, keyword, subject or resource type.
Content for Thinkfinity.org is provided through a partnership between the Verizon Foundation and 11 of the nation's leading organizations in the fields of education and literacy: the American Association for the Advancement of Science, International Reading Association, The John F. Kennedy Center for the Performing Arts, National Center for Family Literacy, National Council on Economic Education, National Endowment for the Humanities, National Council of Teachers of English, National Council of Teachers of Mathematics, National Geographic Society, ProLiteracy Worldwide and the Smithsonian National Museum of American History.
The Verizon Foundation, the philanthropic arm of Verizon Communications, supports the advancement of literacy and K-12 education through its free educational Web site, Thinkfinity.org, and fosters awareness and prevention of domestic violence. In 2008, the Verizon Foundation awarded more than $68 million in grants to nonprofit agencies in the U.S. and abroad. It also matched the charitable donations of Verizon employees and retirees, resulting in an additional $26 million in combined contributions to nonprofits. Through Verizon Volunteers, one of the nation's largest employee volunteer programs, Verizon employees and retirees have volunteered more than 3 million hours of community service since 2000. For more information on the foundation, visit http://www.verizonfoundation.org/.
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 more than 80 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 nearly 224,000 and last year generated consolidated operating revenues of more than $97 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Lillian McGee, +1-401-525-2134, lillian.mcgee@verizon.com
Web Site: http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
TechTeam Positioned by Leading Analyst Firm in Leaders Quadrant for both 2009 Help Desk Outsourcing and Desktop Outsourcing Magic QuadrantsEvaluation Based on Completeness of Vision and Ability to Execute
SOUTHFIELD, Mich., March 5 /PRNewswire-FirstCall/ -- TechTeam Global, Inc., , a worldwide provider of information technology outsourcing and business process outsourcing services, today announced it has been positioned by Gartner, Inc. in the Leaders Quadrant in both the Magic Quadrant for Help Desk Outsourcing, North America, and the Magic Quadrant for Desktop Outsourcing Services, North America reports.
The reports position service providers based on their ability to execute and their completeness of vision. According to Gartner, Leaders "are performing well, have a clear vision of market direction and are actively building competencies to sustain their leadership positions in the market."
"We are honored to be recognized in the Leaders Quadrant in these reports. We consider these two Leader designations to be a confirmation of our company's successful transformation and the substantial value that TechTeam delivers to its customers," said Gary J. Cotshott, Chairman and Chief Executive Officer of TechTeam Global, Inc. "With our sharp focus on help desk and desktop outsourcing services, we bring deep expertise, execution excellence and ongoing innovation. Further, our company culture and organizational design enable us to be agile and responsive on a global scale."
"We are proud of our ability to partner with our clients to deliver real business value," Cotshott said. "And, particularly in this challenging economy, our value proposition is a clear winner for the many organizations seeking to reduce costs and increase flexibility."
Magic Quadrant for Help Desk Outsourcing, North America was authored by Richard T. Matlus and William Maurer and was published on March 4, 2009. Magic Quadrant for Desktop Outsourcing Services, North America was authored by Richard T. Matlus and Lilian Dutra and was published on March 3, 2009.
About TechTeam Global, Inc.
TechTeam Global, Inc. is a leading provider of IT outsourcing and business process outsourcing services to large and medium businesses, as well as government organizations. The company's primary services include service desk, technical support, desk-side support, security administration, infrastructure management and related professional services. TechTeam also provides a number of specialized, value-added services in specific vertical markets. Founded in 1979, TechTeam has nearly 3,000 employees across the world, providing IT support in 32 languages. TechTeam's common stock is traded on the NASDAQ Global Market under the symbol "TEAM." For more information, call 800-522-4451 or visit http://www.techteam.com/.
About the Magic Quadrant
The Magic Quadrant is copyrighted by Gartner, Inc., 2009, and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Safe Harbor Statement
The statements contained in this press release that are not purely historical, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from those expected because of various known and unknown risks and uncertainties, including, but not limited to, the inability to predict how the positioning in the leaders quadrant will affect the Company's sales and marketing efforts. These and other risks are described in the Company's most recent annual report on Form 10-K and subsequent reports filed with or furnished to the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements.
Contacts:
TechTeam Global, Inc. Boscobel Marketing Communications
Chris Donohue Jessica Klenk
VP, Global Strategy & Marketing (301) 588-2900 Ext. 121
(248) 357-2866 jklenk@boscobel.com
cdonohue@techteam.com
TechTeam Global, Inc.
CONTACT: Chris Donohue, TechTeam Global, Inc., VP, Global Strategy & Marketing, +1-248-357-2866, cdonohue@techteam.com; Jessica Klenk, Boscobel Marketing Communications, +1-301-588-2900, Ext. 121, jklenk@boscobel.com
Web Site: http://www.techteam.com/
Next Inning Technology Research Updates Outlooks for UTStarcom, Microchip Technology, Altera, and Xilinx
PRINCETON, N.J., March 5 /PRNewswire/ -- Next Inning Technology Research (http://www.nextinning.com/), a subscription service focused on semiconductor and technology stocks, announced it has published a series of reports updating outlooks for UTStarcom , Microchip Technology , Altera , Xilinx , and more.
Throughout this challenging period in the market, Editor Paul McWilliams has helped his subscribers identify uniquely positioned tech sector opportunities. These include a specialty semiconductor stock that has returned 82% since McWilliams added it to the Next Inning model portfolio late last year.
By taking a free test drive of Next Inning, you'll receive real-time notification of Next Inning model portfolio buy and sell orders, the seven Next Inning Paradigm Papers covering key, long-term tech trends, and the exclusive "2009 Guide to Undervalued Tech Stocks." These reports cover nearly 100 technology companies and are chock full of charts and ratings that identify potential big winners for 2009 and which stocks investors should avoid. To accept this offer, visit the following link:
https://www.nextinning.com/subscribe/index.php?refer=prn787
In a recent special report, McWilliams wrote, "The common thread in all three of these situations is China. China has introduced stimulus plans that include massive investments in wireless and wired telecom infrastructure as well as money to support technology purchases by consumers in rural areas. In the Asian press last night there were several other examples as to how this is positively impacting the Taiwanese supply chain. Below are just a few of the examples I think are noteworthy..."
McWilliams also looks at these topics:
-- What do investors need to know about recent insider activity at UTStarcom? Have insiders just sent a clear signal about the company's future?
-- McWilliams turned negative on Microchip in December when the stock was trading for just over $20.50. Now that the stock has fallen by
-10%, does he think it's time for investors to consider getting back in?
-- What developments were behind Altera's and Xilinx's decision to raise guidance in the midst of what has been a very challenging period for tech stocks? Why might Altera and Xilinx see demand for their products grow more quickly than aggregate semiconductor demand?
Founded in September 2002, Next Inning's model portfolio has returned 118% since its inception versus 5% for the Nasdaq.
About Next Inning:
Next Inning is a subscription financial newsletter focused on technology stocks. Editor Paul McWilliams is a 20+-year semiconductor industry veteran.
NOTE: This release was published by Indie Research Advisors, LLC, a registered investment advisor with CRD #131926. Interested parties may visit adviserinfo.sec.gov for additional information. Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
CONTACT: Marcia Martin, Next Inning Technology Research, +1-888-278-5515
Indie Research Advisors, LLC
CONTACT: Marcia Martin of Next Inning Technology Research, +1-888-278-5515
Web Site: http://www.nextinning.com/
Bento 2 Provides Easy Import for AppleWorks Databases
SANTA CLARA, Calif., March 5 /PRNewswire-FirstCall/ -- AppleWorks users can now import their database information into Bento 2 by FileMaker, the latest version of the personal database that's as easy to use as the Mac.
In just a few steps, AppleWorks users can take advantage of the many advanced, easy-to-use features in Bento 2, such as iTunes-style searching, customizable Bento forms and tables, information linking, beautiful templates and more. Download a free trial version of Bento 2 today.
"For many Mac customers, AppleWorks was their first encounter with database software and a great way to help them organize their data and their life," said Ryan Rosenberg, vice president marketing and services, FileMaker. With Bento 2, they can easily continue using databases by tapping into an elegant, stylish application that lets them work with their data in ways that were never possible before with AppleWorks."
About Bento 2
Designed specifically for Mac OS X v.10.5.4 (or later) Leopard, Bento helps Mac users organize their lives by giving them one place to put their important information from contacts and calendars to projects and events. Bento can organize activities related to work, home, school and community.
Bento automatically displays contacts and calendars kept within Address Book and iCal. There is no need to re-enter existing names, phone numbers, email addresses and upcoming events into Bento allowing users to start organizing and extending their information right away.
Bento 2 now links Apple Mail messages and RSS feeds to contacts, events, projects and other information stored in Bento.
With Bento 2, users can export spreadsheet data from Excel and Numbers directly into Bento 2 to view and use data in beautiful Bento 2 forms and secondarily import Bento 2 data into the spreadsheet apps. Bento 2 users enjoy convenient iTunes-style searching, quick sorting, instant summary stats and much more.
Bento 2 also offers exciting new functionality including spreadsheet style "no set-up" data entry with intuitive "fill-downs"; the ability to edit records and modify forms without ever changing modes; view and edit table and detail records in split-view on one screen; and even instantly link to Google Maps and online chat.
Bento 2 "Buzz" Is Strong
Since its release in October 2008, Bento 2 has consistently received rave reviews from the press. Some of these highlights include:
-- About.com says Bento 2 "may well be the easiest way to organize your
life."
-- MacNN calls Bento 2 "A bargain and a major upgrade."
-- San Antonio Express says, "Try Bento 2 and see how much fun you can
have with a database!"
-- Macworld gives Bento 2 4.5 out of 5 mice, noting that the software
"boasts a number of significant improvements."
About FileMaker, Inc.
FileMaker, Inc. develops award-winning database software. Its products include the legendary FileMaker Pro product line for Windows, Mac and the Web, and the new Bento personal database for Mac. FileMaker Pro won 52 awards, more than its next eight competitors combined, from 2003-2009 in the U.S., and a total of 134 awards worldwide during this time. Millions of customers, from individuals to large organizations, rely on FileMaker, Inc. software to manage, analyze and share information. FileMaker, Inc. is a subsidiary of Apple Inc.
(C)2009 FileMaker, Inc. All rights reserved. FileMaker and Bento are trademarks of FileMaker, Inc., registered in the U.S. and other countries. All other trademarks are the property of their respective owners.
FileMaker, Inc.
CONTACT: media, Kevin Mallon of FileMaker, Inc., +1-408-987-7227, kevin_mallon@filemaker.com, or customers, 1-800-325-2747
Web Site: http://www.filemaker.com/
Electronic Game Card, Inc. Schedules Conference Call to Present Full Year and Fourth Quarter 2008 Earnings Results
NEW YORK and LONDON, March 5 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. (BULLETIN BOARD: EGMI) ("EGC"), announced today that it has scheduled a conference call for Monday, March 16, 2009 at 4:30 p.m.(ET) to discuss the Company's financial results for its full year and fourth quarter 2008, which ended December 31, 2008. EGC intends to issue its earnings release immediately after the close on the day of the conference call.
Conference Call Details:
Date/Time: Monday, March 16, 2009--4:30 p.m. (ET)
Telephone Number: 888-679-8034
International Dial-In Number: 617-213-4847
Participant Pass code: 73153638
Internet Access: http://www.electronicgamecard.com/ or
http://www.earnings.com/
It is recommended that participants phone-in at least 10 minutes before the call is scheduled to begin. Participants may pre-register for the call at -https://www.theconferencingservice.com/prereg/key.process?key=P8G437EPW
Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection. A replay of the conference call in its entirety will be available approximately one hour after its completion by dialing 888-286-8010 (U.S.), 617-801-6888 (International) and entering the pass code 88853143 and on the Internet at http://www.earnings.com/.
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
yvonne@grannusfinancial.com
or
Kevin Donovan
Electronic Game Card, Inc.
888-341-3421
investor.relations@electronicgamecard.com
About Electronic Game Card, Inc.
Electronic Game Card Inc., (BULLETIN BOARD: EGMI) , develops, produces and markets innovative games to the promotional industry worldwide, toys and games, casinos and lottery. The Company's lead product is the EGC Electronic GameCard(TM), a unique credit card-sized pocket game combining patent and patent-pending proprietary technology of interactive capability with "instant win" excitement. The "EGC Electronic GameCard(TM)" can be programmed to suit a variety of gaming and promotion applications.
EGMI's client base is across the $100 billion global market of, sales promotion, gaming and casinos, Indian gaming and state and national lotteries markets. EGMI develops sales and marketing relationships with agents and distributors globally and currently has agents and distributors in North America, United Kingdom, Ireland, Mexico, Italy, Sweden, Norway, Denmark, Finland, South Africa Australia, New Zealand and Japan.
For further information please visit http://www.electronicgamecard.com/
February 2008, Electronic GameCard(TM) received Gaming Laboratory International approval for security and product robustness. In July 2005, the Public Gaming Research Institute (PGRI) named the Electronic GameCard(TM) as a 2005 Lottery Product of the Year.
Electronic Game Card, Inc.
CONTACT: Yvonne L. Zappulla, Managing Director, Grannus Financial Advisors, Inc., +1-212-681-4108, yvonne@grannusfinancial.com; Kevin Donovan, Electronic Game Card, Inc., 1-888-341-3421, investor.relations@electronicgamecard.com
Web Site: http://www.electronicgamecard.com/
Nokia has Filed Form 20-F for 2008 With the US Securities and Exchange Commission
ESPOO, Finland, March 5 /PRNewswire-FirstCall/ -- Nokia has today filed its annual report on Form 20-F for 2008 with the US Securities and Exchange Commission. The report is available in pdf-format at http://www.nokia.com/financials.
Shareholders may request a hard copy of the report free of charge through Nokia's Internet pages.
About Nokia
Nokia is the world's number one manufacturer of mobile devices by market share and a leader in the converging Internet and communications industries. We make a wide range of devices for all major consumer segments and offer Internet services that enable people to experience music, maps, media, messaging and games. We also provide comprehensive digital map information through NAVTEQ and equipment, solutions and services for communications networks through Nokia Siemens Networks.
http://www.nokia.com/financials
http://www.nokia.com/
Nokia Corporation
CONTACT: Media Enquiries: Nokia Communications, Tel. +358-7180-34900, Email: press.services@nokia.com
Lockheed Martin Awarded $39 Million Task Order to Enhance Internal Revenue Service's Taxpayer Self-Service SystemsCorporation continues to support Internal Revenue Service modernization mission to better serve the taxpayer through integrated technology
ROCKVILLE, Md., March 5 /PRNewswire-FirstCall/ -- Lockheed Martin announced today that it was awarded a three-year, $39-million Integrated Customer Communications Environment task order from the Internal Revenue Service (IRS) to maintain, operate and enhance interactive voice processing systems and Internet-based applications to support the IRS Customer Service Domain.
Under the TIPPS-3 task order, Lockheed Martin will maintain IRS systems that provide self-service applications to citizens via integrated telephony and the Internet. These interactive applications allow taxpayers to place toll-free telephone calls to the IRS, using touch tone or voice responses, to navigate through integrated systems to resolve basic to complex IRS account information without human intervention. Lockheed Martin will also maintain Internet-based applications to enable taxpayers to check their refund status and perform a variety of other services, including entering into online payment agreements.
"We are proud of our partnership with the IRS," said Rocky Thurston, director of Lockheed Martin Financial & Regulatory Services. "We look forward to bringing subject-matter experts and advanced technologies to this program and to continue improving customer service for the U.S. taxpayer."
Lockheed Martin also supports the IRS in a variety of functions, including providing additional solutions that enhance taxpayer service, improving regulatory compliance, and expediting and enhancing audits and examinations.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
For additional information, visit our Web site: http://www.lockheedmartin.com/
Lockheed Martin
CONTACT: Sheila Collins of Lockheed Martin, +1-301-519-5896, sheila.collins@lmco.com
Web Site: http://www.lockheedmartin.com/
ESCO Announces Hiring of Energy Industry / Smart Grid Executive
ST. LOUIS, March 5 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today announced the hiring of energy industry executive and Smart Grid veteran Dave Zabetakis as General Manager of Aclara Software Inc., reporting to Bruce Phillips, Group President of Aclara.
Mr. Zabetakis brings over 25 years of wide-ranging energy industry experience to Aclara, and will lead the continued growth of Aclara's value-added software solutions group serving the AMI and Smart Grid markets worldwide.
Mr. Zabetakis has held senior executive level positions, along with business development leadership roles, at several large regulated and unregulated energy providers. Most recently, he was Senior Vice President of Global Business Development at CURRENT Group, LLC, which is a Smart Grid applications company serving the electric infrastructure globally. Prior to this, Dave served as President and Chief Operating Officer of Pepco Energy Services, Inc., a $1.2 billion energy services company, which is a division of Pepco Holdings, Inc.
Vic Richey, Chairman and Chief Executive Officer, commented, "I am very pleased to have Dave join our senior management team at Aclara Software, and I am confident that he will make an immediate impact due to his extensive management experience and his strong leadership. Dave provides a wealth of utility industry knowledge, experience, and executive level relationships that we can build upon to further enhance our position in the Smart Grid universe."
ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas, and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space, and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's web site at http://www.escotechnologies.com/.
ESCO Technologies Inc.
CONTACT: Patricia K. Moore, Director, Investor Relations of ESCO Technologies Inc., +1-314-213-7277; or David P. Garino, +1-314-982-0551, for ESCO Technologies Inc.
Web Site: http://www.escotechnologies.com/
SEDONA Expands Sales and Support Teams to Meet Growing Demand for CRM/MRM
KING OF PRUSSIA, Pa., March 5 /PRNewswire-FirstCall/ -- SEDONA(R) Corporation (BULLETIN BOARD: SDNA) (http://www.sedonacorp.com/), a leading provider of turnkey Customer and Member Relationship Management (CRM/MRM) solutions for banks and credit unions, today announced that the Company has recently expanded its sales and support teams to meet growing demand for CRM/MRM within the financial services industry.
As the economic climate has deteriorated, banks and credit unions are increasingly looking to customer and member relationship management to help them retain and acquire customers and members. SEDONA has positioned itself to meet the growing demand for CRM/MRM among community banks, regional banks, and credit unions. As part of this expansion, SEDONA is pleased to announce the recent hiring of additional personnel in the areas of marketing, sales, product management and customer support. The Company anticipates that the growing demand for its CRM/MRM solutions and services will necessitate additional hiring in the coming months.
Additionally, the Company announced their Nine in '09 series of bank and credit union webinars. Focusing on timely strategies to help banks and credit unions acquire and retain customers, these monthly webinars are free to bank and credit union employees. Financial institutions seeking timely tips to retain customers and members, improve profitability, maximize marketing ROI, and enhance work flow efficiencies are invited to sign up for these events by visiting http://www.sedonacorp.com/.
SEDONA CRM/MRM lets financial institutions use a single, highly-effective system to achieve multiple objectives. Combining Contact Management, Sales Force Automation, and Campaign Management tools, SEDONA CRM(TM) alleviates the need for multiple software solutions. Best of all, each solution within the application shares a central database which serves two purposes: to consolidate data from the core application and third party data feeds for analysis and reporting; and to collect live customer interactions from the field. Models are run from the database, profitability is calculated, and all information is combined to form a truly complete picture for the entire institution of the client relationship, the interactions involved, and its value to the financial institution. In addition, every employee necessary to service the client has access to this information.
"The SEDONA CRM system gives us incredible value; it has so many facets, any one of which justifies the cost of the system," commented Karyn Roche, VP Market Research and Analysis, Sandy Spring Bank. "At Sandy Spring we use it as a referral system, for contact management, for sales management, for dashboard report distribution, and for client and product profitability. Its scalability makes it so easy to expand -- we've gone from two users in Marketing to hundreds throughout the bank, without having to worry about licenses, individual PC installations, added expense, or any slowdown in response times. I have used and looked at other systems, and I can't figure out why every bank doesn't switch to SEDONA! "
About SEDONA Corporation
SEDONA(R) Corporation (BULLETIN BOARD: SDNA) provides multi-vertical Customer/Member Relationship Management (CRM/MRM) solutions and services specifically tailored to the small to mid-size financial services market. The SEDONA CRM(TM) solution is designed and priced to support and meet the needs of the multiple lines of business of small-to-midsize banks and credit unions. SEDONA CRM provides the entire financial services institution with a complete and accurate view of their customers' and prospects' relationships and interactions. By utilizing SEDONA CRM software and services, SEDONA's clients effectively identify, acquire, foster, and retain loyal, profitable customers. For additional information, visit the SEDONA web site at http://www.sedonacorp.com/ or call 1-800-815-3307.
Forward-Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
SEDONA(R) and Intarsia(R) are registered trademarks and SEDONA CRM(TM) is a trademark of SEDONA Corporation.
All other trade names are the property of their respective owners.
This press release and prior releases are available on the SEDONA Corporation web site at http://www.sedonacorp.com/.
SEDONA Corporation
CONTACT: Investors, Anita Primo, investorinfo@sedonacorp.com, or Media, Ginger Gagen, gingerg@sedonacorp.com, both of SEDONA Corporation, +1-610-337-8400
Web Site: http://www.sedonacorp.com/
OpenVPX Industry Working Group Announces Call for ParticipationSteering Committee members open participation in the Technical Working Group, effective immediately
CHELMSFORD, Mass., March 5 /PRNewswire-FirstCall/ -- The OpenVPX Industry Working Group (http://www.mc.com/OpenVPX), an alliance of leading-edge defense prime contractors and embedded computing systems suppliers, announced it has opened membership to its Technical Working Group, effectively immediately.
The OpenVPX Industry Working Group was recently launched to take a proactive approach in addressing the VPX system-level interoperability issues associated with the VPX (VITA 46) family of specifications. At its inaugural meeting held in Dallas, Texas last week, members of the anticipated Steering Committee, which is in the final stage of formation, set forth guidelines for the OpenVPX Industry Working Group's organizational structure, policies, and development of a system specification with a completion goal of October 2009. The recommendations were submitted to meeting participants on day two of the assembly.
Effective today, any COTS defense contractor or embedded computing supplier that is in good standing with the VITA Standards Organization (VSO), and is committed to the OpenVPX Industry Working Group's mission and aggressive schedule for completion of a system specification, is invited to apply for membership to the Technical Working Group.
"The overwhelming response to this initiative exceeded our expectations, and we're delighted to open enrollment to the Technical Working Group," said Ian Dunn, CTO, Mercury Computer Systems.
Mercury is taking the lead in forming the OpenVPX Industry Working Group to address prevalent VPX interoperability issues; and following a precedent set by VITA and other organizations, began the legwork with a concentrated circle of effort in order to bring a viable solution to market in a timely manner. With the strong interest in the OpenVPX initiative from defense contractors and embedded computing systems suppliers, the circle of expertise is expected to expand, and the results of the Technical Working Group's efforts are expected to be presented to the VSO for ratification before year's end.
"The Boeing Company supports the OpenVPX initiative as part of our ongoing efforts to work with the industry to develop standards that promote the interoperability of systems and assemblies," said Jim Robles, Boeing Senior Technical Fellow. "We welcome the opportunity to work with LSIs and vendors of VPX products in this effort."
Once the OpenVPX system specification is transitioned into VITA, the Working Group will disband.
"GE Fanuc has long been committed to the VPX architecture and to its potential to revolutionize military embedded computing, and we very much welcome this initiative that will lower the risk of adoption of VPX systems, expand the market and accelerate deployment," said Jim Berlin, CTO, Embedded Systems, GE Fanuc Intelligent Platforms. "We're looking forward to building on the charter set at our first meeting, and moving ahead to complete a system specification in order to provide the necessary top-down, system-level design guidance."
The OpenVPX Technical Working Group F2F meeting is scheduled for March 16-17 in Orlando, Florida prior to the VSO quarterly meeting scheduled for the following day. To apply for membership to the Technical Working Group and/or to participate in the March meeting, please visit http://www.mc.com/OpenVPX. For more information on the OpenVPX Industry Working Group, visit http://www.mc.com/OpenVPX, or contact Bob Grochmal at (978) 967-1518 or at rgrochma@mc.com. For more information on the VITA Standards Organization, visit http://www.vita.com/.
Mercury Computer Systems, Inc., OpenVPX Industry Working Group Steward
Mercury Computer Systems (http://www.mc.com/, NASDAQ: MRCY) provides embedded computing systems and software that combine image, signal, and sensor processing with information management for data-intensive applications. With deep expertise in optimizing algorithms and software and in leveraging industry-standard technologies, we work closely with customers to architect comprehensive, purpose-built solutions that capture, process, and present data for defense electronics, homeland security, and other computationally challenging commercial markets. Our dedication to performance excellence and collaborative innovation continues a 25-year history in enabling customers to gain the competitive advantage they need to stay at the forefront of the markets they serve.
Mercury is based in Chelmsford, Massachusetts, and serves customers worldwide through a broad network of direct sales offices, subsidiaries, and distributors.
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the OpenVPX Industry Working Group. You can identify these statements by our use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geo-political unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, continued funding of defense programs, the timing of such funding, changes in the U.S. Government's interpretation of federal procurement rules and regulations, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, and difficulties in retaining key customers. These risks and uncertainties also include such additional risk factors as are discussed in the Company's recent filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2008. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
Contact:
Kathleen Sniezek, Public Relations Manager
Mercury Computer Systems, Inc.
978-967-1126 / ksniezek@mc.com
OpenVPX is a trademark of Mercury Computer Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.
Mercury Computer Systems, Inc.
CONTACT: Kathleen Sniezek, Public Relations Manager of Mercury Computer Systems, Inc., +1-978-967-1126, ksniezek@mc.com
Web Site: http://www.mc.com/
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