Companies news of 2009-03-25 (page 1)
Broadcom Announces Conference Call to Review First Quarter 2009 Financial ResultsTuesday,...
Tri-S Security Announces Results for the Fourth Quarter and Year Ended December 31,...
Shenandoah Telecommunications Company Announces Plan to Acquire North River Telephone...
China TransInfo Technology Corp. Announces Record Fourth Quarter and 2008 Year End Results
RadioShack Names Kim Warmbier Senior Vice President - Human Resources
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Raytheon Company Increases Dividend 11 Percent
Global Med Technologies(R), Inc. Delivers Record Q4 and Year End RevenuesRecurring...
Mastech Launches Green Technology Practice with Focus on Smart Grid and Renewable...
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DemandTec, Kraft Foods and Safeway to Discuss Collaborative Deal Management at the GMA...
TableMAX Installs Progressive Blackjack(R) and Caribbean Stud(R) Systems at Creek Nation...
FutureIT Inc. Announces Fourth Quarter 2008 ResultsAnnual Revenues Increase 176% From 2007...
Auto Manufacturers Continue to Advertise SUVs Online Over More Fuel-Efficient Models,...
CSC Positioned in 'Leaders' Quadrants of Desktop and Help Desk Outsourcing Reports
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Wanderport Corporation Update and Stock Buyback Program
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VisualOn Integrates On2 VP6 Video Into Mobile Multimedia ApplicationsOn2 VP6 Video...
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Syndication Re-Signs 'Adventure Web Productions,' Award Winning Marketing Firm; CEO Asked...
Los Angeles County Customers Receive More 3G Coverage With 13 New Verizon Wireless Cell...
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GVI Security Solutions Wins Three Year Multi-Million Dollar Video Surveillance Project for...
Broadcom Announces Conference Call to Review First Quarter 2009 Financial ResultsTuesday, April 21, 2009 at 1:45 p.m. Pacific Time; 4:45 p.m. Eastern Time
IRVINE, Calif. March 25 /PRNewswire-FirstCall/ -- Broadcom Corporation , a global leader in semiconductors for wired and wireless communications, will conduct a conference call with analysts and investors following the release of its first quarter 2009 financial results on Tuesday, April 21, 2009 at 1:45 p.m. Pacific Time; 4:45 p.m. Eastern Time. The conference call, which will include information regarding current and future products and technologies, end market trends, and the company's current financial prospects, will be conducted by Scott McGregor, Broadcom's President and Chief Executive Officer, and Eric Brandt, Senior Vice President and Chief Financial Officer.
After the close of the market on April 21st, and prior to the conference call, Broadcom will distribute a copy of the first quarter 2009 financial results press release via PR Newswire. To listen to the webcast, or to view the press release or the other financial or statistical information required by SEC Regulation G, please visit the Investors section of the Broadcom website at http://www.broadcom.com/investors. The webcast will be recorded and available until 5:00 p.m. Pacific Time on Tuesday, May 5, 2009.
About Broadcom
Broadcom Corporation is a major technology innovator and global leader in semiconductors for wired and wireless communications. Broadcom(R) products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. We provide the industry's broadest portfolio of state-of-the-art system-on-a-chip and software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices. These solutions support our core mission: Connecting everything(R).
Broadcom is one of the world's largest fabless semiconductor companies, with 2008 revenue of $4.66 billion, and holds over 3,100 U.S. and over 1,400 foreign patents, more than 7,600 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.
Broadcom is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at +1.949.926.5000 or at http://www.broadcom.com/.
Broadcom, the pulse logo, Connecting everything, and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
Broadcom Trade Press Contact
Bill Blanning
Vice President, Global Media Relations
949-926-5555
blanning@broadcom.com
Broadcom Investor Relations Contact
T. Peter Andrew
Vice President, Corporate Communications
949-926-5663
andrewtp@broadcom.com
Photo: http://www.newscom.com/cgi-bin/prnh/20060609/BROADCOMLOGO http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Broadcom Corporation; BRCM Corporate
CONTACT: Trade Press, Bill Blanning, Vice President, Global Media Relations, +1-949-926-5555, blanning@broadcom.com, or Investor Relations, T. Peter Andrew, Vice President, Corporate Communications, +1-949-926-5663, andrewtp@broadcom.com, both of Broadcom Corporation
Web Site: http://www.broadcom.com/
Tri-S Security Announces Results for the Fourth Quarter and Year Ended December 31, 2008Revenue for 2009 Forecasted at $145-$150 Million
ATLANTA, March 25 /PRNewswire-FirstCall/ -- Tri-S Security Corp. , a provider of security services for government and private entities, today announced its results of operations for the fourth quarter and year ended December 31, 2008. Tri-S provides security services through its two wholly-owned subsidiaries, Paragon Systems, Inc. ("Paragon") and The Cornwall Group ("Cornwall").
Fourth Quarter and Year Ended December 31, 2008
-- Revenues increased 52% for the quarter and 59% for the year, to $35.8
million and $141 million, respectively, from $23.5 million and $88.9
million, respectively, a year ago.
-- Gross profit increased for the quarter and for the year, to $2.2
million and $11.2 million, respectively, from $0.8 million and $5.5
million, respectively, a year ago, primarily due to the impact of the
significant contracts awarded to Paragon.
-- The operating loss for the year 2008 was $9.3 million compared to $6.8
million for the year 2007. The operating loss for the year 2008
includes a goodwill impairment charge of $6.2 million. Without this
goodwill impairment charge, the operating loss for the year 2008 would
have been reduced to $3.1 million, an improvement of $3.7 million over
the year 2007.
-- Net loss for the year was $14.1 million compared to a net loss of $4.3
million a year ago. Net loss per share for the year was $3.36 per
share compared to $1.21 per share a year ago.
-- EBITDA, as adjusted, for the year was a positive $1.1 million compared
to a negative $2.9 million a year ago, an improvement of $4.0 million
(see "EBITDA, as adjusted" definition below).
Recent Highlights
-- As part of Tri-S's strategic review of its results and operations,
Tri-S decided to explore the sale of the Cornwall business in order to
focus on the government business conducted by Paragon and to reduce
the overall debt load. After reviewing a number of potential offers,
Tri-S has entered into a non-binding Letter of Intent to sell the
Cornwall business and anticipates closing such sale within forty-five
days, subject to the execution of definitive transaction documents and
the satisfaction of customary closing conditions.
-- Expect 2009 revenue to range from $140-$145 million for Paragon only,
which is an increase year over year for Paragon of 35-40%.
-- Signed a non-binding term sheet, subject to certain closing conditions
with Wells Fargo Business Credit, for a new $25 million asset-based
lending facility which will reduce our fees and interest charges by
approximately $2.0 million on a full-year basis.
-- Paragon awarded two new contracts to provide armed guard services in
Los Angeles and San Diego, California. Both contracts are with the
Department of Homeland Security and include security for the counties
surrounding Los Angeles and San Diego. The Los Angeles contract and
the San Diego contract are valued at approximately $94 and $47
million, respectively, for a combined total of $141 million in revenue
over five years.
-- Paragon awarded a contract to provide armed and unarmed guard services
in Southern Virginia, scheduled to start April 1, 2009. The contract
is with the Department of Homeland Security and is valued at
approximately $42.5 million in revenue over five years.
-- Total contract pipeline of approximately $531 million, including
approximately $507 million of contracts under bid and approximately
$24 million of contracts for which bids have been solicited and are in
preparation.
-- Settlement reached with respect to the litigation regarding Tri-S's
initial public offering, subject to approval by the court.
-- Agreement in principle reached regarding the investigation by Miami
Dade County.
"The objective we set last year for top line growth in 2008 has been achieved with a 59% increase in revenue and total contract awards of $360 million," said Ronald Farrell, Chairman and CEO, Tri-S Security Corp. "The focus remains on continuing this growth and improving our margins in the government business. We expect Paragon to grow between 35 % and 40 % in 2009.
"I am pleased that we are exploring the sale of our Cornwall business in order to concentrate on the government business and to substantially reduce our debt load. So far in 2009, we have continued to maintain our operating costs flat and expect this trend to continue. Overall, we are focused on continuing to grow our government business and are excited about our opportunities during the coming year as evidenced by our current pipeline and the anticipated reduction to our debt costs."
Financial Discussion for Fourth Quarter and Year Ended December 31, 2008
During the fourth quarter of 2008, revenue for Tri-S grew 52% to $35.8 million from $23.5 million in the fourth quarter of 2007. The revenue increase was the result of new contracts awarded to Paragon. For the year 2008, revenue grew $52.4 million, or 59%, to $141.3 million as a result of new contract awards to Paragon.
During the year 2008, Paragon was awarded five new contracts which were transitioned into operations during the latter part of the second quarter and the beginning of the third and fourth quarters.
The gross profit for the fourth quarter of 2008 increased $1.4 million to $2.2 million from the $0.8 million gross profit for the fourth quarter of 2007. Gross profit for the year 2008 increased to $11.2 million from $5.5 million for the year 2007, an increase of $5.7 million. Both of these increases were primarily due to the new contracts awarded to Paragon.
Selling, general and administrative costs were $3.7 million for the fourth quarter of 2008 compared to $3.0 million for the fourth quarter of 2007, an increase of 23%, while revenue rose in the fourth quarter of 2008 by 53% compared to the fourth quarter of 2007. These costs increased to $13.6 million for the year 2008 compared to $11.4 million for the year 2007, an increase of 19%, while revenue increased for the same period by 59%. These costs represented 10.3% of revenue for the fourth quarter of 2008 down from 12.7% of revenue for the fourth quarter of 2007. For the year 2008, these same costs represented 9.6% of revenue down from 12.8% for the year 2007.
The operating loss for the fourth quarter of 2008 was $3.8 million compared to an operating loss for the fourth quarter of 2007 of $2.4 million, resulting primarily from the need to record additional goodwill impairment with respect to Cornwall of $2.2 million as a result of the impending sale under current market conditions. Without this goodwill impairment charge, the operating loss for the fourth quarter of 2008 would have been reduced to $1.6 million, an improvement of $0.8 million over the fourth quarter of 2007. The operating loss for the year 2008 was $9.3 million compared to $6.8 million for the year 2007. The operating loss for the year 2008 includes a goodwill impairment charge of $6.2 million. Without this goodwill impairment charge, the operating loss for the year 2008 would have been reduced to $3.1 million, an improvement of $3.7 million over the year 2007.
Net interest expense increased to $1.3 million for the fourth quarter of 2008 compared to $570,000 for the fourth quarter of 2007. For the year 2008, interest expense increased from $2.4 million for the year 2007 to $5.0 million for the year 2008, mainly due to increased borrowings on incremental revenue and over advance interest.
Income taxes increased by $2.6 million for the year 2008 due to management's decision to record a valuation allowance of the same amount against deferred tax assets.
For the fourth quarter 2008, Tri-S's net loss was $5.0 million, compared to $2.2 million for the fourth quarter 2007. Net loss per share for the fourth quarter 2008 was $1.20 compared to $0.60 for the fourth quarter 2007. For the year 2008, Tri-S's net loss was $14.1 million, compared to $4.3 for the year 2007. Net loss per share for the year 2008 was $3.36 compared to $1.21 for the year 2007.
EBITDA, as adjusted, was a loss of approximately $0.8 million for the fourth quarter of 2008 compared to a loss of $1.4 million for the fourth quarter of quarter of 2007. For the year 2008, EBITDA, as adjusted, was a positive $1.1 million compared to a loss of $2.9 million for the year 2007, an improvement of $4.0 million.
In this release, we use the non-GAAP financial measure, EBITDA, as adjusted. EBITDA, as adjusted, is calculated as earnings before interest; taxes; depreciation and amortization; income from joint venture, net; non-cash stock-based compensation; start-up costs; and other income/expense. A reconciliation of EBITDA, as adjusted, to net loss for the quarters and years ended December 31, 2007 and 2008, is attached to this press release.
Tri-S will host a conference call at 10:00 a.m. EDT on Thursday, March 26, 2009. The conference call may be accessed by dialing 877-879-6201. Participants should ask for the Tri-S 2008 Financial Results conference call.
This call is being webcast by Thomson Financial and can be accessed at Tri-S Security's website at http://trissecurity.com/. The website may also be accessed at Thomson's website at http://earnings.com/. The webcast can be accessed through May 29, 2009 on either site. To access the webcast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player, please visit:
http://www.microsoft.com/windows/windowsmedia/en/download/default.asp. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About Tri-S Security Corp.
Based in Atlanta, GA, Tri-S Security Corp. is a provider of security services for government and private entities. Security services include uniformed guards, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities. As a leading aggregator of elite security companies, Tri-S Security is designed to build a strong enterprise in which to service a unique customer base that ensures America's safety at home and work. Tri-S Security assumes responsibility for the marketing, infrastructure and overall operational performance for its subsidiaries. Tri-S Security's management leverages highly trained government officers, experienced industry leaders, proven financial executives and infrastructure experts to consolidate the fragmented security industry into one efficient and effective security force.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Federal securities laws. Forward-looking statements are commonly identified by such terms and phrases as "should", "expects", "plans", "anticipates", "believes", "estimates", "projects" and other terms with similar meaning indicating potential impact on our business. Although we believe that the assumptions upon which such forward looking statements are based are reasonable, we can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from our projections and expectations are disclosed in our filings with the Securities and Exchange Commission, including the "Risk Factors" section set forth in our Annual Report on Form 10-K for the year ended December 31, 2007, and our Quarterly Reports on Form 10-Q filed subsequent thereto. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to their underlying assumptions. We do not undertake to publicly update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise. You may obtain and review our filings with the Securities and Exchange Commissions by visiting http://www.sec.gov/.
Tri-S Security Corporation and Subsidiaries
Statements of Operations
Unaudited
(In thousands, except per share data)
Three Three Twelve Twelve
Months Months Months Months
Ended Ended Ended Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2008 2007 2008 2007
Revenues $35,824 $23,507 $141,332 $88,943
Cost of revenues:
Direct labor 22,912 15,006 89,938 56,681
Indirect labor and other
contract support costs 10,325 7,271 38,594 25,173
Amortization of
customer contracts 405 404 1,619 1,617
33,642 22,681 130,151 83,471
Gross profit 2,182 826 11,181 5,472
6.1% 3.5% 7.9% 6.2%
Selling, general
and administrative 3,679 2,981 13,590 11,370
Goodwill impairment
loss 2,213 - 6,253 -
Amortization of
intangible assets 110 251 626 927
6,002 3,232 20,469 12,297
Operating income
(loss) (3,820) (2,406) (9,288) (6,825)
Other income (expense):
Interest expense,
net (1,267) (570) (4,966) (2,454)
Interest on series C
Redeemable
preferred stock - - - (211)
Other income 1 98 49 2,549
(1,266) (472) (4,917) (116)
Loss before
income taxes (5,086) (2,878) (14,205) (6,941)
Income tax benefit (55) (691) (87) (2,638)
Net loss $(5,031) $(2,187) $(14,118) $(4,303)
Basic and diluted
net income (loss)
per common share $(1.20) $(0.60) $(3.36) $(1.21)
Basic and diluted
weighted average number
of common shares 4,203 3,661 4,203 3,561
Tri-S Security Corporation and Subsidiaries
Balance Sheets
(In thousands, except per share data)
Draft Audited
Dec. 31, Dec. 31,
2008 2007
Assets
Current assets:
Cash and cash equivalents $1,246 $465
Restricted cash 75 348
Trade accounts receivable, net 16,610 13,993
Prepaid expenses and other assets 903 353
Total current assets 18,834 15,159
Property and equipment, less accumulated
depreciation 611 476
Goodwill 9,825 16,078
Intangibles
Customer contracts 1,028 2,647
Deferred loan costs 797 515
Other 665 769
Total assets $31,760 $35,644
Liabilities and Stockholders' Equity
Current liabilities:
Trade accounts payable $1,885 $1,983
Other accrued expenses 1,949 903
Accrued salary and benefits 4,055 3,940
Asset based lending facility 19,641 11,625
Accrued interest 534 -
Income taxes payable 67 586
10% convertible notes 1,025 7,473
Total current liabilities 29,156 26,510
Other liabilities:
14% convertible notes 6,470 -
Term loan 2,500 2,500
Accrued interest expense - long term 277 353
Series D preferred stock subject to
mandatory redemption 1,500 1,500
10,747 4,353
Total liabilities 39,903 30,863
Stockholders' equity:
Common stock, $0.001 par value, 25,000,000 4 4
shares authorized, 4,203,280 shares issued
and outstanding at September 30, 2008 and
December 31, 2007.
Treasury stock (105) (105)
Additional paid-in capital 17,562 16,368
Retained deficit (25,604) (11,486)
Total stockholders' equity (8,143) 4,781
Total liabilities and stockholders' equity $31,760 $35,644
Tri-S Security Corporation and Subsidiaries
Statements of Cash Flows
Unaudited
(In thousands)
Three Three Twelve Twelve
Months Months Months Months
Ended Ended Ended Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2008 2007 2008 2007
Cash flow from operating
activities:
Net income (loss) $(5,031) $(2,187) $(14,118) $(4,303)
Adjustments to reconcile net
income (loss) to net cash
provided (used) by operating
activities:
Gain on Paragon settlement - - (1,888)
Gain on Cornwall settlement - - (250)
Bad debt expense 292 188 777 488
Depreciation and amortization 667 763 2,725 2,920
Goodwill impairment loss 2,213 6,253 -
Deferred income tax benefits - (749) (1,974)
Common shares, options and
warrants in exchange for
services and interest 158 74 831 238
Non-cash interest expense (155) 264 22 837
Changes in operating assets
and liabilities:
Unbilled revenues and trade
accounts receivable 9,096 (1,889) (3,394) (1,168)
Prepaid expenses and other
assets 450 238 (550) (52)
Trade accounts payable 685 227 (98) 878
Accrued liabilities (2,291) (702) 1,619 319
Income taxes payable (56) 54 (519) (683)
Net cash provided (used) by
operating activities 6,028 (3,719) (6,452) (4,638)
Cash flow from investing
activities:
Restricted cash - - 273 -
Purchase of property and
Equipment (39) (78) (615) (254)
Net cash provided (used)
by investing activities (39) (78) (342) (254)
Cash flow from financing
activities:
Payment on Paragon settlement - - (1,250)
Proceeds from (payments on) asset
based lending facility, net (5,412) 4,172 8,016 4,119
10% convertible notes tendered - -
14% convertible notes issued - -
Proceeds of (repayments on) of
term loans - - - 2,500
Deferred financing costs (296) (13) (441) (78)
Net cash provided (used) by
financing activities (5,708) 4,159 7,575 5,291
Net increase (decrease) in
cash and cash equivalents 281 362 781 399
Cash and cash equivalents at
beginning of period 465 66 465 66
Cash and cash equivalents at
end of period $746 $428 $1,246 $465
Supplemental disclosures of cash
flow information:
Interest paid $1,178 $540 $4,377 $1,850
Income taxes paid $0 $- $432 $15
Tender of 10% convertible notes
for 14% convertible notes $- $- $6,460
Payment of deferred financing
costs through issuance of
warrants 363
Tri-S Security Corporation and Subsidiaries
EBITDA, as adjusted
Three Three Twelve Twelve
Months Months Months Months
Ended Ended Ended Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2008 2007 2008 2007
Net Loss ($5,031) ($2,187) $(14,118) $(4,303)
Adjustments:
Income tax benefit (55) (691) (87) (2,638)
Interest expense, net 1,267 570 4,966 2,454
Interest on preferred stock
subject to mandatory redemption 0 - 211
Gain on sale of assets 0 0 0 (1,888)
Other income (1) (98) (49) (661)
Amortization of intangible assets 110 251 626 928
Goodwill impairment loss 2,213 - 6,253 -
Amortization of customer
contracts 405 405 1,619 1,617
Depreciation 152 107 480 375
Non-cash stock based
Compensation 158 72 831 236
Start Up Costs 0 198 549 757
EBITDA, as adjusted $ (782) $(1,373) $1,070 $(2,912)
Tri-S Security Corp.
CONTACT: Nicolas Chater, Chief Financial Officer, Tri-S Security Corporation, +1-678-808-1540, or nchater@trissecurity.com
Web Site: http://www.trissecurity.com/
Shenandoah Telecommunications Company Announces Plan to Acquire North River Telephone Cooperative
EDINBURG, Va., March 25 /PRNewswire-FirstCall/ -- Shenandoah Telecommunications Company (Shentel) today announced it has entered into an agreement to purchase the assets of the North River Telephone Cooperative in Mount Solon, Virginia. North River has approximately 1,000 access lines and is located in northwestern Augusta County, Virginia. The transaction is subject to regulatory approvals and a vote of the North River Telephone Cooperative members.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a holding company that provides a broad range of telecommunications services through its operating subsidiaries. The Company is traded on the NASDAQ National Market under the symbol "SHEN." The Company's operating subsidiaries provide local and long distance telephone, Internet and data services, cable television, wireless voice and data services, alarm monitoring, and telecommunications equipment, along with many other associated solutions in the Mid-Atlantic and Southeastern United States.
Shenandoah Telecommunications Company
CONTACT: Earle A. MacKenzie, +1-540-984-5192
Web Site: http://www.shentel.com/
China TransInfo Technology Corp. Announces Record Fourth Quarter and 2008 Year End Results
- Revenue and net income up 147.5 and 150.9%, respectively
- Fully diluted EPS reaches $0.53
BEIJING, March 25 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), today reported its financial results for the fourth quarter and year ended December 31, 2008.
Fourth Quarter 2008 Highlights
-- Revenue increased 176.1% year-over-year to a record $10.7 million
-- Gross profit increased 160.2% year-over-year to $6.1 million
-- Income from operations increased 135.9% year-over-year to $4.1 million
-- Net income increased 404.4% year-over-year to $4.1 million, or $0.19
per fully diluted share
-- Entered into a cooperative agreement with China Mobile Ltd. Dalian
Branch to jointly invest in the installation of in-taxi LED GPS
security surveillance devices on 6,000 taxis in Dalian.
-- Attended Roth Capital "China Comes to Vegas" conference in Las Vegas,
Nevada
Full Year 2008 Highlights
-- Revenue increased 147.5% year-over-year to a record $29.4 million.
-- Gross profit increased 164.0% year-over-year to $16.5 million, or 56.2%
of revenues
-- Operating income grew 135.4% year-over-year to $11.4 million
-- Net income increased 150.9% to $11.1 million, or $0.53 per fully
diluted share
"China TransInfo achieved several historical milestones in 2008 in terms of both our business operations and corporate development," stated Mr. Shudong Xia, chief executive officer of China TransInfo. "We have made remarkable progress in several core areas of our business operations, including being awarded the Olympic Games Traffic GIS Application System project and the expansion of our taxi media business in several domestic large cities, allowing us to achieve record financial results with solid top and bottom line growth. In addition to strong organic growth, China TransInfo acquired majority ownership of China TranWiseway and Dajian Zhitong, and full ownership of Shanghai Yootu. This has allowed us to strengthen our foundation for further expansion in the areas of transportation information services, taxi media, and real time traffic data technology and services."
"With respect to our corporate development, we successfully raised $15 million from a private placement and upgraded to Nasdaq Capital Market in the summer of 2008. Furthermore, with the addition of experienced independent directors and a new chief financial officer, we have raised the level of oversight and improved our corporate governance."
Fourth Quarter 2008 Results
For the quarter ended December 31, 2008, revenues were $10.7 million, a 176.1% increase from $3.9 million posted during the same quarter in 2007. This was primarily due to an increase in sales of the Company's products and applications in the transportation business segment, which accounted for 59.1% of the total revenues in the quarter. The remaining revenue came from the Digital City sector, Land & Resources sector, and other business segments.
The Company's gross profit increased 160.2% to $6.1 million in the fourth quarter of 2008, compared to $2.3 million a year ago. Gross margin was 56.9% in the fourth quarter of 2008, compared to 60.3% during the same period in 2007. The decrease in gross margin was mainly due to the execution of lower-margin contracts from business segments outside of the transportation sector in the fourth quarter of 2008.
Selling, general and administrative expenses in the fourth quarter of 2008 were $2.0 million, up from $0.6 million in the fourth quarter of 2007. Selling expenses were $0.7 million, compared with $0.2 million in the same period of 2007. The significant increase in selling expenses was primarily due to expansion of our business during the fourth quarter of 2008. Administrative expenses were $1.3 million in the three months ended December 31 2008, up from $0.4 million in the same period of 2007. The increase of administrative expenses was mainly attributable to increased staffing and expenses associated with being a public company.
Operating income increased 135.9% to $4.1 million, or 38.2% of revenues, compared to $1.7 million, or 44.7% of revenues, in the fourth quarter of 2007.
Other income was $0.2 million in the fourth quarter of 2008, compared with other expense of $0.5 million in the fourth quarter of 2007. Other expense in the year ago period, was mainly attributed to non-cash expenses from the decrease in fair value of the Company's warrant liability.
Net income increased to $4.1 million in the fourth quarter of 2008, or $0.19 per fully diluted share, as compared to net income of $0.8 million, or $0.04 per fully diluted share, during the same period in 2007. Weighted average fully diluted shares outstanding increased to 22.3 million shares in the fourth quarter of 2008 from 19.9 million shares in the fourth quarter of 2007 as a result of the acquisition and issuance of additional shares from a private placement in July 2008.
Full Year 2008 Results
Revenues for 2008 were $29.4 million, up 147.5% from $11.9 million in 2007. Gross profit was $16.5 million or 56.2% of revenues, up 164.0% from $6.3 million, or 52.7% of revenues in 2007. Operating income was $11.4 million, or 38.9% of revenues, up 135.4% from $4.9 million, or 40.9% of revenues, in 2007. Net income was $11.1 million, or $0.53 per fully diluted share, as compared to net income of $4.4 million, or $0.28 per fully diluted share, in 2007. Weighted average fully diluted shares outstanding increased to 20.9 million shares in 2008 from 15.7 million shares in 2007 due to a private placement financing completed in July 2008.
Financial Condition
As of December 31, 2008 cash totaled $16.1 million and working capital was $32.7 million, up from $16.5 million at December 31, 2007. The Company did not have any long-term debt at the end of 2008. Stockholders' equity stood at $46.2 million at the end of 2008, as compared to $19.7 million at the end of 2007. Cash flow from operating activities increased from $0.09 million in 2007 to $2.5 million in 2008.
Recent Events
-- January 2009 - Through its majority owned subsidiary Dalian Dajian
Zhitong Information Service Co., Ltd. (Dajian Zhitong), China TransInfo
has entered into a five-year taxi. advertisement placement agreement
with Dalian Liyang Media Limited ("Dalian Liyang").
-- February 2009 - China TransInfo completed its corporate restructuring
using a VIE arrangement designed to allow it to engage in certain
restricted businesses in China.
-- March 2009 - The Company signed a contract with Mapbar, a leading
mapping software provider in China, to provide real-time traffic data
mapping software add-ons to Motorola China mobile phones.
-- March 2009 - China TransInfo attended the International Exhibition on
Infrastructure, Traffic Management, Safety and Parking in Shanghai.
Business Outlook
"As we step into 2009, the domestic and international business environment has seen dramatic changes compared to last year. However, we believe that the market for our products and services offers tremendous growth potential going forward. The aggressive $586 billion (RMB 4 trillion) economic stimulus plan initiated by the Chinese central government will likely act as a catalyst toward the development of the transportation information industry in China," said Mr. Xia. "As a result, we are confident that 2009 will bring another year of continued growth. We plan to increase emphasis on technology research and development in 2009 to maintain our leadership position in the market over the long term. In addition, we intend to build on the series of acquisitions we made in 2008, further expand our business and improve our brand recognition on a nationwide basis."
For 2009, the Company expects revenues to increase to approximately $45.0 million and non-GAAP net income to grow to approximately $14.0 million, excluding non-cash compensation charges and amortization of intangibles from acquisitions. GAAP net income for 2009 is expected to be approximately $13.0 million.
Conference Call
The Company will host a conference call at 8:00 a.m. eastern time on March 26, 2009, to discuss results for the fourth quarter and full year of 2008. The call will be hosted by Mr. Troy Mao, chief financial officer, and Ms. Fan Zhou, investor relations director of China TransInfo. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1-888-419-5570. International callers should dial +1-617-896-9871. When prompted by the operator, mention conference pass code 128 992 09. The call will be available to replay beginning at 10:00 a.m. eastern time, March 26, 2009, for fourteen days after it occurs. If you would like to listen to the replay, please dial 1-888-286-8010 or +1-617-801-6888 from outside the US and enter pass code 89713855.
About China TransInfo
China TransInfo, through China TransInfo Group and its operating subsidiaries, is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in China. China TransInfo is involved in developing multiple applications in transportation, digital city, land and a resource filling system based on GIS technologies which is used to service the public sector. In addition, the Company is developing its transportation system to include ETC technology. As the co-formulator of several transportation technology national standards, the Company has software copyrights for 75 software products and has won 5 of 10 model cases sponsored by PRC Ministry of Communications. The Company's affiliation with Peking University provides access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electronic transportation information solutions. For more information please visit the company website at http://www.chinatransinfo.com/ .
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements". All statements other than statements of historical fact included herein are "forward-looking statements" including, among others, those concerning the Company's expected financial performance and strategic and operational plans, the general ability of the Company to achieve its commercial objectives, future operating results of the Company, its subsidiaries and the VIE Entities, expectations regarding the market for transportation information services, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Ms. Fan Zhou, Investor Relations Director
China TransInfo Technology Corp.
Tel: +86-10-8267-1299 x8033
Email: ir@ctfo.com
Investor Relations Contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915 (NY office)
Graham Reed, Financial Writer
Email: graham.reed@ccgir.com
Tel: +1-646-213-1907
Web: http://www.ccgirasia.com/
--FINANCIAL TABLES FOLLOW-
CHINA TRANSINFO TECHNOLOGY CORP. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS AND COMPREHENSIVE INCOME
3 months ended 12 months ended
December 31 December 31
2008 2007 2008 2007
(Unaudited) (Unaudited) (Audited) (Audited)
Revenues $10,684,650 $3,869,165 $29,370,463 $11,864,629
Cost of revenues 4,609,121 1,534,393 12,867,258 5,612,372
Gross profit 6,075,529 2,334,772 16,503,205 6,252,257
Expenses:
SG&A 1,995,510 604,880 5,081,502 1,401,169
--
Income from operations 4,080,019 1,729,892 11,421,703 4,851,088
Other income (expense):
Interest income 18,023 20,073 68,782 60,289
Interest expense (59,137) (110) (135,120) (13,968)
Subsidy income 530,100 146,058 530,100 146,058
Decrease in fair
value of warrant
liability -- (525,918) -- 64,359
Other income
(expense) - net (273,634) (62,265) 32,170 160,446
Total other income
(expenses) 215,352 (492,157) 495,931 417,184
Net income before
income taxes and
minority interest 4,295,371 1,307,730 11,917,634 5,268,272
Income tax expense
Current 12,984 -- 5,201 --
Deferred -- 420,998 57,754 450,606
Total income tax
expense 12,984 420,998 62,955 450,606
Minority interest (162,510) (69,995) (764,201) (396,585)
Net income $4,119,875 $816,736 $11,090,477 $4,421,080
Weighted average
shares of outstanding
- basic 22,187,314 19,601,107 20,678,693 15,520,661
Weighted average
shares of
outstanding- diluted 22,328,782 19,895,552 20,883,951 15,698,439
Income per share -
basic $0.19 $0.04 $0.54 $0.28
diluted $0.19 $0.04 $0.53 $0.28
Comprehensive income
Net income 4,119,875 816,736 11,090,477 4,421,081
Translation
adjustments 236,958 401,382 1,612,709 672,414
Comprehensive income 4,356,833 1,218,118 12,703,186 5,093,495
CHINA TRANSINFO TECHNOLOGY CORP. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
December 31,
2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $16,122,464 $6,842,238
Restricted cash 1,209,542 243,852
Accounts receivable, net 7,735,742 4,246,805
Inventory 23,775 --
Cost and estimated earnings in excess
of billings on uncompleted contracts 11,912,285 2,659,969
Prepayments 3,647,731 2,328,289
Other receivable 2,940,404 1,038,329
Deferred tax assets 211,708 250,668
Total current assets 43,803,651 17,610,150
Long-term investment 278,730 260,490
Property and equipment, net 9,874,005 3,574,722
Intangible assets, net 1,490,807 --
Goodwill 3,095,017 --
Other non-current assets 147,607 --
Total assets $58,689,817 $21,445,362
CHINA TRANSINFO TECHNOLOGY CORP. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
December 31,
2008 2007
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable $5,518,402 $446,143
Notes payable 2,934,000 --
Due to related parties 528,485 --
Billings in excess of costs and estimated
earnings on uncompleted contracts 846,971 258,265
Deferred revenue 214,256 --
Other payable and accrued liabilities 1,030,766 389,432
Total current liabilities 11,072,880 1,093,840
Minority interest 1,465,743 655,876
Stockholders' equity:
Preferred stock, par value $0.001
per share, 10,000,000 shares
authorized and 0 shares issued and
outstanding -- --
Common stock, par value $0.001 per
share, 150,000,000 shares
authorized, 22,187,314 and
19,601,107 shares issued and
outstanding, respectively 22,187 19,601
Additional paid-in capital 24,654,890 10,905,114
Retained earnings 18,974,224 7,883,747
Accumulated other comprehensive
gain - translation adjustments 2,499,893 887,184
Total stockholders' equity 46,151,194 19,695,646
Total liabilities and stockholders'
equity $58,689,817 $21,445,362
CHINA TRANSINFO TECHNOLOGY CORP. AND SUBSIDIARY
AUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
2008 2007
Cash flows from operating activities:
Net income $11,090,477 $4,421,081
Adjustments to reconcile net income to
net cash provided by (used in)
operating activities:
Depreciation and amortization expenses 200,746 41,915
Bad debt 31,571 --
Deferred income tax 55,531 450,606
Minority interest 764,201 396,585
Warrants issued for service -- 200,105
Stock-based compensation 217,756 --
Loss on disposal of fixed assets 11,747 --
Change in fair value of warrant
liability -- (64,359)
(Increase) Decrease in assets:
Restricted cash (932,126) (102,524)
Accounts receivable (2,634,838) (1,247,452)
Prepayments (1,035,964) (1,089,273)
Other receivable (1,852,411) (577,078)
Cost and estimated earnings
in excess of billings on
uncompleted contracts (8,088,233) (1,913,123)
Inventory 185,993
Other current assets 234,892 (129,788)
Decrease (Increase) in liabilities:
Accounts (notes) payable 4,471,898 261,572
Billings in excess of costs
and estimated earnings on
uncompleted contracts (613,988) (96,324)
Customer deposits 66,382 --
Other payable and accrued liabilities 338,283 (466,400)
Net cash provided by operating activities 2,511,917 85,543
2008 2007
Cash flows from investing activities:
Cash from acquisitions $294,872 $9,199,660
(Increase) Decrease in loan to others -- 277,297
Payment of cash to the shareholders
of the accounting acquirer -- (2,000,000)
(Increase) Decrease in other
non-current assets (147,489) 12,018
Proceeds from disposal of fixed assets 26,072 --
Purchases of fixed assets (6,037,957) (3,236,664)
Purchases of intangible assets
and goodwill (4,537,334) --
Net cash provided by (used in)
investing activities (10,401,836) 4,252,311
Cash flows from financing activities:
Increase in due to related parties 441,737 --
Proceeds from (payments of)
short-term borrowings 2,883,000 (658,350)
Net change in minority interests 300,775 --
Payable for acquiring subsidiary 86,490 --
Payments to related parties (190,878) --
Increase in customer deposit 144,150 --
Merger (issuance) costs to be charged
directly to equity (1,794,660) (1,492,361)
Proceeds from issuing shares 15,000,000 3,200,000
Net cash provided by financing
activities 16,870,614 1,049,289
Effect of foreign currency exchange
translation 299,531 133,931
Net increase in cash 9,280,226 5,521,074
Cash - beginning 6,842,238 1,321,164
Cash - ending $16,122,464 $6,842,238
Supplemental disclosures:
Interest paid $135,120 $13,986
Income taxes paid $847 $ --
China TransInfo Technology Corp.
CONTACT: Ms. Fan Zhou, Investor Relations Director of China TransInfo Technology Corp., +86-10-8267-1299 x8033, ir@ctfo.com; or Investors, Mr. Crocker Coulson, President, +1-646-213-1915 (NY office), crocker.coulson@ccgir.com, or Graham Reed, Financial Writer, +1-646-213-1907, graham.reed@ccgir.com, both of CCG Investor Relations
Web site: http://www.chinatransinfo.com/
RadioShack Names Kim Warmbier Senior Vice President - Human Resources
FORT WORTH, Texas, March 25 /PRNewswire-FirstCall/ -- RadioShack Corporation today announced that Kim Warmbier has been named senior vice president - human resources. She is responsible for RadioShack's overall policy and strategy related to human resources. Warmbier reports to Julian Day, chairman and chief executive officer.
"We are very pleased to welcome Kim to our senior management team," said Julian Day, chairman and chief executive officer of RadioShack Corporation. "Kim has a sterling background and is well qualified to make significant positive contributions at RadioShack."
Previously, Warmbier was chief personnel officer for PepsiCo Sales. Before that she served as group vice president - human resources for Frito Lay North America Sales. Warmbier has more than 20 years experience with Frito Lay, a PepsiCo division, including employee, industrial and labor relations; compensation and benefits; change management; recruitment and staffing; succession planning; and leadership development.
Warmbier earned her Bachelor's degree in business from Illinois State University in Normal, Ill. She earned a Master's in labor industrial relations from the University of Illinois at Urbana-Champaign, Ill.
Warmbier is a board member for the Center for Human Resource Management with University of Illinois. She also is a member of the Center for Effective Organizations with the University of Southern California.
About RadioShack Corporation
RadioShack Corporation , headquartered in Fort Worth, Texas, is one of the nation's most experienced and trusted consumer electronics specialty retailers. RadioShack connects technology with consumers by selling the products and accessories that people want, from innovative products in wireless phones, GPS receivers and digital music players to laptop computers. RadioShack has approximately 4,400 company-operated stores; 1,400 dealer outlets; nearly 700 wireless phone kiosks throughout the U.S.; and, approximately 200 company-operated stores in Mexico. RadioShack employs a diverse workforce of more than 34,000. Our knowledgeable sales associates are committed to adding value to the in-store shopping experience by offering advice and helping customers choose the best technology solution to meet their needs. For more information, visit http://www.radioshack.com/
Photo: http://www.newscom.com/cgi-bin/prnh/20000518/DATH047LOGO http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
RadioShack Corporation
CONTACT: Mary De La Garza, +1-817-415-3300, Media.Relations@RadioShack.com
Web Site: http://www.radioshack.com/
Angie's List Chooses NeuStar's UltraDNS to Enhance the Security and Manageability of its Online PresencePopular Online Consumer Ratings Site Addresses Single Point of Failure in Critical Infrastructure
STERLING, Va., March 25 /PRNewswire-FirstCall/ -- NeuStar, Inc. today announced that Angie's List (http://www.angieslist.com/), the nationwide ratings service with real consumer reviews of local service providers, has chosen NeuStar's UltraDNS Managed DNS Service to optimize the performance of its online operations.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO )
As with all web-enabled organizations, DNS is of critical importance to Angie's List's day-to-day operations. Prior to moving to the UltraDNS service, Angie's List relied on its Internet service provider (ISP) for its DNS infrastructure. Typical of such an arrangement, all requests for DNS changes had to be submitted manually to the ISP's ticketing system. Response times were variable, and Angie's List still had to verify that all changes were made correctly. Further, the ISP maintained all primary and secondary DNS servers in the same physical location, representing a "single point of failure" that could have brought down the entire Angie's List business operations in the event of an outage.
"Partnering with NeuStar has enabled us to take control of our own destiny," said Shane Wade, director of IT infrastructure and operations at Angie's List. "Through the UltraDNS management portal, we make all of our DNS changes and they are propagated globally in near-real time -- making it the fastest and most expansive that we have seen. In addition, with NeuStar's worldwide constellation of DNS servers, we have realized our disaster recovery goal of having no single point of failure."
NeuStar's UltraDNS Managed DNS Service provides enterprises with one of the world's most powerful DNS infrastructures, which is monitored around the clock and backed by a 99.999% uptime service level agreement. Enterprise customers retain administrative control of their DNS via a highly secure, web-based management portal.
"Angie's List has experienced dramatic growth over the past five years, and with that comes the need for increased operational control," said Alex Berry, senior vice president of NeuStar's Internet Infrastructure service group. "Many of our customers come to us because they need to take control of their DNS, but do not want to spend the capital, incur operational expenditures or shoulder the burden of supporting an in-house solution. The managed services approach gives customers the very best DNS infrastructure while at the same time providing them with complete control of their DNS activity."
More information about NeuStar's UltraDNS suite of services is available at http://www.ultradns.com/.
About NeuStar
NeuStar provides market-leading and innovative services that enable trusted communication across networks, applications, and enterprises around the world. For more information, visit http://www.neustar.biz/.
About Angie's List
Angie's List is where thousands of consumers share their ratings and reviews on local contractors and companies in more than 425 different categories. Currently, more than 750,000 consumers across the U.S. rely on Angie's List to help them find the right contractor or company for the job they need done. Members have unlimited access to the list via Internet or phone; receive the award-winning Angie's List magazine, which includes articles on home improvement and maintenance, consumer trends and scam alerts; and they can utilize the Angie's List complaint resolution service. Get more information about Angie's List at http://www.angieslist.com/.
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NeuStar, Inc.
CONTACT: John Schneidawind of NeuStar, +1-571-434-5596, john.schneidawind@NeuStar.biz
Web Site: http://www.ultradns.com/
Raytheon Company Increases Dividend 11 Percent
WALTHAM, Mass., March 25, 2009 /PRNewswire/ -- Raytheon Company's Board of Directors has voted to increase the Company's annual dividend payout rate by 11 percent from $1.12 to $1.24 per share. The Board also authorized payment of a quarterly cash dividend of $0.31 per outstanding share of common stock to be paid on May 1, 2009 to shareholders of record as of the close of business on April 7, 2009. Payment of quarterly dividends is subject to Board authorization.
"The increase in our dividend reflects our Company's strong financial position, our continued confidence in our future and our ongoing commitment to our shareholders," said William H. Swanson, Raytheon's Chairman and CEO.
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
Media Contact
Jon Kasle
781.522.5110
Investor Relations Contact
Marc Kaplan
781.522.5141
Raytheon Company
CONTACT: Media, Jon Kasle, +1-781-522-5110, or Investor Relations, Marc Kaplan, +1-781-522-5141, both of Raytheon Company
Web Site: http://www.raytheon.com/
Company News On-Call: http://www.prnewswire.com/comp/149999.html http://www.prnewswire.com/comp/742575 .html
Global Med Technologies(R), Inc. Delivers Record Q4 and Year End RevenuesRecurring Revenues Soar 149%; Backlog Jumps 86%; Pipeline Increases to $64 Million
DENVER, March 25 /PRNewswire-FirstCall/ -- Global Med Technologies(R), Inc. ("Global Med" or the "Company") (BULLETIN BOARD: GLOB) , an international healthcare information technology company, today reported record revenues for both the fourth quarter and the year ended December 31, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO)
Global Med's record revenues of $23.369 million for the year ended December 31, 2008 represent an increase of $7.290 million, or 45.3%, over the $16.079 million recorded for 2007. The Company's operating income for 2008 was $176 thousand compared to $1.887 million in 2007. The Company's net loss for 2008 was $419 thousand, or $0.01 per basic common share outstanding, versus net income of $1.978 million, or $0.08 per basic common share outstanding, in 2007.
Global Med's record revenues of $6.991 million for the fourth quarter of 2008 represent an increase of $2.694 million, or 62.7%, over the $4.297 million recorded for the comparable 2007 period. In the fourth quarter of 2008, the Company's operating loss was $664 thousand compared to operating income of $698 thousand during the fourth quarter of 2007. The Company's net loss for the fourth quarter of 2008 was $703 thousand, or $0.02 per basic common share outstanding, versus net income of $680 thousand, or $0.03 per basic common share outstanding, in the comparable 2007 period.
The Company's acquisitions of Inlog and eDonor were the primary drivers of revenue growth in the fourth quarter and full-year 2008, but they also drove the majority of Global Med's net loss for both periods. Their post-acquisition operating results did not exceed the associated increase in acquisition-related amortization, interest expense and certain non-recurring expenses. While the integration of Inlog and eDonor, along with opportunistic cross-selling has taken longer than expected, based on strong fourth quarter sales bookings and recent cost reduction measures, management continues to believe in the synergies of these acquisitions and in their ability to operate profitably.
Recurring annual maintenance revenues for the quarter were running at a record annualized rate of over $15.2 million. Based on the backlog as of December 31, 2008, the Company's annual recurring revenues, when all contracted customer sites are implemented, will be approximately $17.2 million, a 149% increase from 2007. The Company's backlog (signed contracts) of unrecognized software license fees and implementation fees was approximately $9.9 million, an increase of 86% from 2007.
As of December 31, 2008, the Company's cash balance was $4.472 million, a decrease of $2.276 million over December 31, 2007, due primarily to cash payments for the Inlog and eDonor acquisitions.
2008 Business Developments and Announcements:
-- The Inlog and eDonor acquisitions in 2008 transformed the Company from
a mainly U.S.-based business to an international healthcare
information technology company operating in 20 countries with over
2,100 sites.
-- The Inlog acquisition added a European Laboratory Information System
(that currently has 15% market share in France) and a cellular therapy
tracking system to our product line.
-- EdgeCell was introduced into the U.S., and eDonor and Donor Doc(TM)
were introduced in Europe.
-- Our professional sales and marketing teams deployed at both Inlog and
eDonor booked approximately $5.0 million in new business since our
acquisitions.
-- Exclusive of recent acquisitions, annual new system sales increased
19% over 2007 and fourth quarter new system sales increased 30% over
2008's third quarter and 90% over 2007's fourth quarter.
-- Our sales and marketing teams grew the consolidated sales pipeline to
a record $64.4 million at year-end.
-- The backlog of unrecognized software and implementation revenue
increased to a record high of $9.9 million, an increase of 86% from
the end of last year and up 43% from the end of the third quarter.
-- The Company increased recurring maintenance revenues to $17.2 million,
an increase of 149% from 2007 and up 7% from the third quarter of
2008.
-- Cerner, one of the largest healthcare information technology
companies, joined Global Med as a channel partner, to sell Global
Med's donor and hospital transfusion center systems, both domestically
and internationally. Cerner made several sales in 2008 and we expect
a substantial increase in its sales in 2009.
-- Global Med implemented significant cost savings measures, domestically
and internationally, to help ensure our expected return to
profitability in 2009.
Michael I. Ruxin, M.D., Chairman and CEO of Global Med Technologies, Inc., commenting on the year-end results, stated, "We have truly had an incredible year that was both transformational and transitional. It was transformational in that we became one of the world leaders in blood bank and hospital transfusion software, and we literally transformed the Company. It was transitional in that due to the nature of our two acquisitions and the state of the world's financial health, we aggressively adapted to changing economic conditions in order to better prepare the Company for future growth." Dr. Ruxin continued, "The Company does not need cash at this time. Our cash reserves are adequate to fund our continuing operations for the foreseeable future. Now that we are close to the final stages of integrating our acquisitions, we are definitely back on the path to being cash-flow positive and we expect to have a profitable 2009."
Thomas F. Marcinek, the Company's President and COO, stated, "Our management team is focused on the continued growth of our business and our return to profitability. We plan to achieve this goal as soon as possible by operationally meeting the requirements to move sales bookings to our financial statements and through our continued closing of the business opportunities in our expanded pipelines. These activities are in addition to our continued cost cutting measures and the efficiency gains of our business integration. As a result of our management team's work, we remain very excited for our business even as the world faces strong economic headwinds."
The following tables provide information related to the Company's operations for the three months and year ended December 31, 2008 and 2007:
Global Med Technologies, Inc. (BULLETIN BOARD: GLOB.OB)
Selected Results
Three Months Ended December 31,
In (000s) Except Per Share Information
(Unaudited)
2008 2007
---- ----
Revenues $6,991 $4,297
Cost of revenues (2,981) (1,338)
Operating expenses (4,674) (2,261)
(Loss) income from
operations (664) 698
Other income, (expenses)
and (taxes) (39) (18)
Net (loss) income $(703) $680
(Loss) income per share:
Basic $(0.02) $0.03
Diluted $(0.02) $0.01
Weighted average shares
outstanding:
Basic 34,019 26,453
Diluted 34,019 45,860
Cash flows (used in)
provided by operations $(2,064) $1,050
Global Med Technologies, Inc. (BULLETIN BOARD: GLOB.OB)
Selected Results
Year Ended December 31,
In (000s) Except Per Share Information
(Unaudited)
2008 2007
---- ----
Revenues $23,369 $16,079
Cost of revenues (9,158) (4,904)
Operating expenses (14,035) (9,288)
Income from operations 176 1,887
Other income, (expenses)
and (taxes) (595) 91
Net (loss) income $(419) $1,978
(Loss) income per share:
Basic $(0.01) $0.08
Diluted $(0.01) $0.05
Weighted average shares
outstanding:
Basic 29,914 24,640
Diluted 29,914 42,209
Cash flows (used in)
provided by operations $(950) $4,421
About Global Med Technologies(R), Inc.
Global Med Technologies, Inc. is an international healthcare information technology company which develops regulated and non-regulated products and services for the healthcare industry. As a leading provider of blood and laboratory systems and services, Global Med's products are deployed in 20 countries and serve over 2,100 transfusion centers, blood banks and laboratory sites.
Global Med's domestic companies are Wyndgate Technologies(R), a leader in software products and services for donor centers and hospital transfusion services; eDonor(R), which offers web-based donor relationship management systems; and PeopleMed(TM), Inc., which implements cost-effective software validation, consulting and compliance solutions to hospitals and donor centers.
Global Med's European subsidiary, Inlog, SA, is a leading developer of donor center and transfusion management systems as well as cellular therapy software, laboratory information systems and quality assurance medical software systems internationally.
For more information about Global Med's products and services, please call 800-996-3428 or visit http://www.globalmedtech.com/.
This news release may include statements that constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expects" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this news release.
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Global Med Technologies, Inc.
CONTACT: Michael I. Ruxin, M.D., +1-303-238-2000, mick@globalmedtech.com, or Karen Davis, CFO, +1-916-404-8400, davisk@globalmedtech.com, both of Global Med Technologies, Inc.
Web Site: http://www.globalmedtech.com/
Mastech Launches Green Technology Practice with Focus on Smart Grid and Renewable EnergyAdds business development leader Larson Rider to focus on practice development
PITTSBURGH, March 25 /PRNewswire-FirstCall/ -- Mastech Holdings, Inc., , a national provider of Information Technology staffing services, today announced the appointment of Larson Rider to the company's Green Technology practice.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080508/NETH059LOGO-b )
Since 1984, Mr. Rider has worked extensively with Green Technology clients in Energy/Environmental Controls, Renewable Energy and Smart Grid. Mr. Rider joins Mastech from Echelon Corporation, a leading international provider of Control Networks for the Smart City, Smart Meters and Smart Grid Systems, where he served as the corporation's Staffing Manager.
As part of Mastech's focus on Smart Grid and Renewable Energy and, in particular, the high-growth area of Renewable Energy Technology, Mr. Rider will focus on practice development, business development, and Renewable Energy Technology consultant recruitment. Mr. Rider will be based out of Mastech's operations in Fremont, CA.
Commenting on Mr. Rider's appointment, Mastech CEO Steve Shangold noted, "The increasing importance of Smart Grid and Renewable Energy make this market sector a key area of focus for Mastech. Adding a seasoned professional to launch our practice helps Mastech deepen our relationship at existing Green Technology and Environmentally-committed clients, and increase new Green Technology-related business. Larson's knowledge and experience will also help attract highly sought-after consultants who possess significant Smart Grid and Renewable Energy skills."
"I am excited to join a forward-looking firm such as Mastech," remarked Mr. Rider, "Mastech's history is one of being on the cutting-edge of technology integration trends. From our initial conversations about Green Technology, Smart Grid and Renewable Energy, I realized Mastech's commitment to make a difference to the Environment, and to have a hand in crafting a future of an energy-independent United States. I believe we have the tools, resources and support to build a premier, nationwide Green Consulting and Human Capital Management practice."
Rider's twenty-six years in the industry include a solid business development background in addition to Recruitment; Staffing; Retained Search, and Technical Contract Staff Augmentation. An entrepreneur by nature, Mr. Rider has opened new markets and started successful consulting practices within several prior firms. Mr. Rider served as a partner in retained executive search firm Greenberg Perry and in business development/management roles with Sequent Associates (now part of KForce), Consultants Online, Bridge-Gate (now part of Spherion) and Chase International.
More information about Mastech can be found at Mastech's website: http://www.mastech.com/.
About Mastech Holdings, Inc.: Leveraging the power of 20 years of IT experience, Mastech provides Information Technology services in the disciplines which drive today's business operations. Clients turn to Mastech for comprehensive IT services including: IT Consulting; OneSource(tm) Co-Managed projects; and supplemental IT resources. More information about Mastech can be found at Mastech's website: http://www.mastech.com/.
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Mastech Holdings, Inc.
CONTACT: Christopher R. Evans, Director of Global Marketing of Mastech, +1-888-330-5497, info@mastech.com
Web Site: http://www.mastech.com/
WD's My Book(R) Family of External Hard Drives Now Deliver 2 Terabytes in a Slim, Single-drive SystemLargest Capacity Available in Single-drive External Hard Drives for Mac(R) and PC Users
BOSTON, March 25 /PRNewswire-FirstCall/ -- (Photoshop World Booth No. 615) -- WD(R) , the world's leader in external storage solutions, today expanded its My Book(R) family of external hard drives to include a 2 TB capacity, the largest available capacity in a single-drive system. With its wide variety of models, WD offers a solution for every type of user, whether they're a creative power user on a Mac(R) or a home user on a PC. The new 2 TB My Book family includes: My Book Studio Edition(TM), My Book Mac Edition, My Book Home Edition(TM) and My Book Essential Edition(TM) models.
Market research shows that consumer creation and acquisition of digital media is growing rapidly, driving demand for increasing storage capacities. According to market research firm IDC, the number of digital cameras and camera phones in the world surpassed 1 billion (Mar. 2008). Separately, market research firm GfK reports that HD (high definition) video camcorders are experiencing record growth and now account for 42 percent of total camcorder sales (Aug. 2008). HD video requires massive amounts of drive space: at least 8 GB per hour of video. Since 2006, when Apple(R) began offering movie downloads, the Apple store has already sold more than 250 million TV episodes and sold or rented more than 33 million movies (Apple, Mar. 2009).
"The popularity among consumers of high-definition video cameras, digital photography and digital music downloads means that users are filling up their computers with massive amounts of digital content as fast as they can click 'save.' As the volume and value of users digital content grows, backing up data on multiple CDs or DVDs becomes time consuming and inconvenient. At the same time, consumers are realizing the monetary and emotional value of content and need to back up their most important files. The My Book family, with its massive 2 TB capacity allows users to backup all their data in one easy step and keep it in one easily accessible place," said Jim Welsh, senior vice president and general manager of WD's branded products and consumer electronics groups.
My Book Studio Edition & My Book Mac Edition
Formatted(1) for Mac computers, these drives are an ideal solution for creative professionals and video editors. The My Book Studio Edition is equipped with high speed FireWire(R) 400/800 and eSATA interfaces as well as the popular USB 2.0 interface and a 5-year limited warranty. My Book Mac Edition external drives feature a USB 2.0 interface and a 1-year limited warranty.
My Book Home Edition
Equipped with continuous backup software and high-speed eSATA and FireWire 400 as well as USB 2.0 interfaces, My Book Home Edition carries a 3-year limited warranty. My Book Home Edition is designed for PC users that need an effortless way to preserve digital pictures.
My Book Essential Edition
My Book Essential Edition offers an easy way to add storage capacity to home or office computers. The drives are equipped with a USB 2.0 interface that provides convenience and compatibility among multiple computers.
The entire family of My Book external hard drives features:
-- New 2 TB capacities allowing users to store and backup all their data
in one central location;
-- Elegant, small footprint design;
-- Capacity gauge to see at a glance how much capacity is available on
the drive (not available on the My Book Essential Edition drive);
-- Environmentally friendly design that saves power by going into standby
mode after 10 minutes of inactivity;
-- SmartPower(TM) features that turns the drive on and off with the
computer and Safe Shutdown(TM) that prevents the drive from being
powered down until all the data has been written(2);
-- Kensington(R) Security Slot that allows users to secure drive to their
desk with the separate purchase of a Kensington lock kit; and,
-- 1-year limited warranty.
Availability and Pricing
The My Book Studio Edition, My Book Home Edition and My Book Essential Edition 2 TB external hard drives are available now at select retail stores and online retailers. My Book Mac Edition 2 TB external drives will be available next month. Estimated pricing ranges from $329.99 USD to $379.99 USD, depending on drive model and capacity.
About WD
WD, one of the storage industry's pioneers and long-time leaders, provides products and services for people and organizations that collect, manage and use digital information. The company produces reliable, high-performance hard drives that keep users' data accessible and secure from loss. WD applies its storage expertise to consumer products for external, portable and shared storage applications.
WD was founded in 1970. The company's storage products are marketed to leading systems manufacturers, selected resellers and retailers under the Western Digital(R) and WD brand names. Visit the Investor section of the company's Web site (http://www.westerndigital.com/) to access a variety of financial and investor information.
This press release contains forward-looking statements, including statements relating to: expected ship dates for the new My Book Mac Edition in the 2 TB capacity. These forward-looking statements are based on current management expectations, and actual results may differ materially as a result of several factors, including: potential changes or delays in manufacturing and logistics schedules and business conditions generally; and other risks and uncertainties listed in WD's recent SEC filings, including its form 10-Q for the second fiscal quarter of 2009. WD undertakes no obligation to update these forward-looking statements to reflect new information or events or for any other reason.
Western Digital, WD, the WD logo and My Book are registered trademarks; Studio Edition, Essential Edition, Home Edition, SmartPower and Safe Shutdown are trademarks of Western Digital Technologies, Inc. in the U.S. and other countries. Mac is a trademark of Apple, Inc. Other marks may be mentioned herein that belong to other companies. All other brand and product names mentioned herein are the property of their respective companies. One gigabyte (GB) = 1 billion bytes. One terabyte (TB) = one trillion bytes. Total accessible capacity varies depending on operating environment.
(1) HFS+ Journaled
(2) Works with the USB and FireWire connections only
(Photo: http://www.newscom.com/cgi-bin/prnh/20090325/LA88760)
(Logo: http://www.newscom.com/cgi-bin/prnh/20000711/WDCLOGO)
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Western Digital Technologies
CONTACT: Company contacts, Constance A. Griffiths, WD Press Relations, +1-949-672-7891, Constance.Griffiths@wdc.com, or Bob Blair, WD Investor Relations, +1-949-672-7834, Robert.Blair@wdc.com
Web Site: http://www.westerndigital.com/
American Airlines Offers Women Travelers Special Admirals Club Offer and New AA.com/women Online ContentAmerican Honors Women Travelers During Women's History Month
FORT WORTH, Texas, March 25 /PRNewswire-FirstCall/ -- In recognition of Women's History Month in March, American Airlines has launched a special Admirals Club(R) membership offer on AA.com/women to recognize and thank the nearly 50 million female passengers who board American Airlines and American Eagle flights each year.
Customers who visit AA.com/women, the airline industry's first online resource specifically designed for its female customers, can print out a flyer and present it to any Admirals Club lounge representative on or before May 15 to save up to $50 off a new annual membership or $25 off a membership renewal. American, a founding member of the oneworld(R) Alliance, has more than 40 Admirals Club locations worldwide.
Admirals Club members enjoy exclusive benefits including:
-- Personalized, professional assistance with reservations, seat
selection, same-day ticketing and boarding passes.
-- Complimentary Wi-Fi powered by T-Mobile(R) HotSpot in the U.S. and
Puerto Rico locations, and complimentary Wi-Fi in most international
locations.
-- Lenovo ThinkCentre(TM) PCs with complimentary high-speed Internet
access.
-- Access to private conference rooms and business services, including
individual workstations, data ports, printers, copiers and fax
machines.
-- Complimentary coffee, tea, soft drinks and light snacks.
-- Food for purchase from the new Amora(TM) Fresh Food menu in the U.S.
and Puerto Rico.
-- Showers, Quiet Rooms and Children's Rooms at select Club locations.
-- Special offers exclusively for members only from a variety of
companies including AmericanAirlines Vacations(SM), Bose(R),
Cellar360, Hertz(R), Lenovo(TM), Samsonite(R), Sky Mall(R), Starwood
Hotels and The Benjamin hotel.
-- Complimentary Regus businessworld Gold membership, providing access to
more than 950 business centers in 70 countries.
"Women's History Month is an excellent opportunity to recognize the achievements of women," said LeAnn Marchbanks, Director of Women's Marketing for American Airlines. "AA.com/women is a great online resource that allows women to read customized content, find destination deals, and share their experiences as a community - with us and each other."
New online content related to Women's History Month and other offers are now available online at AA.com/women. Although AA.com/women content is created with women in mind, men also can benefit from the information.
AA.com/women's content includes feature articles on business, family, and girlfriends. This month the site celebrates Women's History Month and includes coverage of Shannon Kenitz, the Grand Prize-winner of the 7th Annual American Way Road Warrior contest. The site also features articles on developing leadership skills in girls and the National Women's Wine Competition - the only U.S. wine competition judged entirely by superstar women of the wine industry. Five great wine towns to visit are highlighted.
Women travelers can also interact with each other and American by clicking on the AA.com/women forum button beside each online feature. Women's Network resources and information about Susan G. Komen for the Cure(R) are also available.
Offer details: Discount Code AW2 for new memberships and AW1 for renewal memberships. Offer valid between March 1 and May 15, 2009.
*To qualify for this renewal discount offer, current membership must expire no later than June 30, 2009. Discounted membership cannot be purchased online. Must be 18 years of age or older to purchase membership. No other discount applies. Special pricing applies to new and qualified renewing memberships. Membership rate is based on individual's current tier level in the AAdvantage(R) program. All rates are in U.S. dollars and subject to change without notice. No retroactive credits apply. Memberships are non-transferable and non-refundable. Membership purchases using AAdvantage miles cannot be discounted.
American Airlines reserves the right to change AAdvantage rules, regulations, travel awards and special offers at any time without notice and to end the AAdvantage program with six months notice. For complete details about the AAdvantage program, visit http://www.aa.com/aadvantage. American Airlines reserves the right to restrict, alter or modify the fees, amenities, services, Club hours or lounge locations at any time without written notice. Visit http://www.aa.com/admiralsclub for complete details. AmericanAirlines, AmericanAirlines Vacations, AAdvantage, Admirals Club and Amora are marks of American Airlines, Inc. oneworld is a mark of the oneworld Alliance, LLC. (C) 2009 American Airlines, Inc. All rights reserved. AC/AAW/0209
About American Airlines
American Airlines, American Eagle and the AmericanConnection(R) airlines serve 250 cities in 40 countries with, on average, more than 3,400 daily flights. The combined network fleet numbers more than 900 aircraft. American's award-winning Web site, AA.com(R), provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld(R) Alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members serve nearly 700 destinations in over 140 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, We know why you fly and AAdvantage are registered trademarks of American Airlines, Inc.
AmericanAirlines(R) We know why you fly(R)
Current AMR Corp. releases can be accessed on the Internet.
The address is http://www.aa.com
American Airlines
CONTACT: Mary Sanderson, Corporate Communications of American Airlines, Fort Worth, Texas, +1-817-967-1577, corp.comm@aa.com
Web Site: http://www.aa.com/
Video: Ubisoft(R), Midway and Tigon Studios Launch High-Speed, Cinematic Wheelman(TM) Video Game Starring Vin DieselAdrenaline-Pumped Super Moves and Hollywood-Style Driving Action Take to the Streets of Barcelona
SAN FRANCISCO, March 25 /PRNewswire/ -- Ubisoft, Midway and Tigon Studios announce that Wheelman(TM), the action-packed driving game featuring film star Vin Diesel as undercover agent and expert driver-for-hire Milo Burik, has shipped and is available at retailers starting today. Wheelman is available for the Xbox 360(R) video game and entertainment system from Microsoft, the PLAYSTATION(R)3 computer entertainment system and Windows PC and is rated "T" for Teen by the ESRB.
(Photo: http://www.newscom.com/cgi-bin/prnh/20090325/NY89063)
To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/wheelman/37370/
In Wheelman, Milo Burik gets caught in a crossfire of chaos and corruption while trying to stay one step ahead of local law enforcement and rival gangs in the beautifully re-created city of Barcelona, Spain. In Wheelman, the player's car is the weapon. Players weave in and out of traffic, engaging in intense vehicular warfare, leaving wreckage in their wake as they take out anything or anyone that gets in the way with innovative super moves like "Vehicle Melee," "AirJack" and the "Cyclone."
"First and foremost Wheelman is designed to be action packed, accessible and over-the-top driving fun," said Tony Key, senior vice president of sales and marketing at Ubisoft. "Wheelman's dynamic systems adjust to the player's experience level so that everyone - from a novice to an expert gamer - can play and feel as if they're an action hero in a driving game."
Inspired by Hollywood's most famous action-sequences, Wheelman will deliver powerful cinematic moments throughout the game's compelling storyline. In addition, there are more than 100 side missions available, giving players plenty of opportunities to steer through the streets of virtual Barcelona, while earning vehicle upgrades, achievements and trophies.
For more information about Wheelman, please visit http://www.ubi.com/.
About Ubisoft
Ubisoft is a leading producer, publisher and distributor of interactive entertainment products worldwide and has grown considerably through a strong and diversified line-up of products and partnerships. Ubisoft has teams in 28 countries and distributes games in more than 55 countries around the globe. It is committed to delivering high-quality, cutting-edge video game titles to consumers. For the 2007-08 fiscal year, Ubisoft generated sales of 928 million Euros. To learn more, please visit http://www.ubisoftgroup.com/.
About Tigon Studios
Based in Los Angeles, California, TIGON STUDIOS was founded in 2002 by Vin Diesel with the goal of breaking new ground in interactive franchise entertainment by bringing strong story, high production value and interesting and intelligent characters which can exist in multiple mediums, simultaneously to the gaming and film & television industries. TIGON focuses on creating properties that can be launched in both mediums.
The only game production company founded by a major motion picture star, TIGON combines a film industry style business model with veteran talent from the gaming industry to produce the highest quality of interactive entertainment. In its unique role, TIGON works closely with both the developer and the publisher of its games to ensure clear creative vision and quality in each title. By combining the strengths of traditional film development with the innovations of the video game world, TIGON is in an exclusive position to ensure streamlined production across various platforms.
About Midway
Midway Games Inc. (OTC Pink Sheets: MWYGQ), headquartered in Chicago, Illinois, with offices throughout the world, is a leading developer and publisher of interactive entertainment software for major videogame systems and personal computers. More information about Midway and its products can be found at http://www.midway.com/.
WHEELMAN is a trademark of Midway Home Entertainment Inc. "PlayStation", "PLAYSTATION" and "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc. Xbox is a registered trademark of Microsoft Corporation in the United States and/or other countries. Ubisoft, Ubi.com, and the Ubisoft logo are trademarks of Ubisoft Entertainment in the U.S. and/or other countries. All other trademarks are the property of their respective owners. The information on http://www.ubisoftgroup.com/ and ubi.com has not been prepared by Midway, and Midway does not monitor, endorse or accept responsibility for the content on non-Midway sites.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning future business conditions and the outlook for Midway Games Inc. (the "Company") based on currently available information that involves risks and uncertainties. These forward-looking statements include, without limitation, statements regarding the Company's expectations concerning the continuation of its day-to-day operations during bankruptcy. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, including, without limitation, (1) the impact of the Company's Chapter 11 filing on its operations; (2) the ability of the Company to continue as a going concern; (3) the ability of the Company to operate pursuant to the agreement with its secured creditor for the use of its cash collateral; (4) the ability of the Company to develop, pursue, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; (5) the ability of the Company to obtain and maintain normal terms with vendors and service providers; (6) the ability of the Company to maintain contracts that are critical to its operations; (7) potential adverse developments with respect to the Company's liquidity or results of operations; (8) the ability of the Company to fund and execute its business plan; and (9) the financial strength of the interactive entertainment industry. Discussion of additional factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is set forth under "Item 1. Business - Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, and in more recent filings made by the Company with the Securities and Exchange Commission. Each forward-looking statement, including, without limitation, financial guidance, speaks only as of the date on which it is made, and Midway undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, except as required by law.
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Ubisoft
CONTACT: Jaime Cottini of Ubisoft Public Relations, +1-415-547-4000, jaime.cottini@ubisoft.com
Web Site: http://www.ubisoftgroup.com/
DemandTec, Kraft Foods and Safeway to Discuss Collaborative Deal Management at the GMA IS/LD Conference April 7, 2009 in MiamiPresentation to highlight the New Ways of Working Together initiative from GMA, VICS and other industry organizations
SAN CARLOS, Calif., March 25 /PRNewswire-FirstCall/ -- DemandTec, Inc. , a leading provider of on-demand optimization solutions for retailers and consumer products manufacturers, today announced it will join two of its customers to lead a session at the Grocery Manufacturers Association's (GMA) Information Systems/Logistics Distribution Conference to be held in Miami from April 6 to 8, 2009. Chuck Eckman, customer vice president at Kraft Foods, Stuart Arnott, director of marketing systems and processes at Safeway, and Armen Najarian, senior director of consumer products industry marketing at DemandTec, will present a general session entitled A Business Case for Collaborative Deal Management on April 7 at 3:15 PM EDT.
The case study will highlight business benefits that Safeway and Kraft Foods have enjoyed during the past four years through eDeals. eDeals is Safeway's pioneering online trade promotion management program, which is powered by DemandTec's Deal Management software service on the DemandTec TradePoint Network(TM). This software service aligns closely with New Ways of Working Together, an industry initiative sponsored by leading grocery retailers, manufacturers and trade groups including Safeway, Kraft Foods, GMA, FMI and VICS to define best practices in joint business planning.
"DemandTec is proud to share the stage with two strategic, innovative customers to discuss the benefits of collaborative deal management," said DemandTec's Najarian. "This case study highlights several areas of hard cost savings and a more efficient use of resources for both Safeway and Kraft Foods. Given the current state of the economy, opportunities for retailers and manufacturers to work better together are resonating with companies across the industry."
Najarian added that the New Ways of Working Together initiative dovetails with DemandTec's next-generation trade effectiveness solutions for consumer products companies. DemandTec Trade Effectiveness(TM) helps manufacturers plan, execute and measure the impact of trade promotion and pricing strategies, so they can be more competitive at the shelf and more valuable in supporting joint business planning with retailers.
For more information about the conference: http://www.gmaisld.com/
About DemandTec
DemandTec enables retailers and consumer products manufacturers to optimize merchandising and marketing decisions, individually or collaboratively, to achieve their sales volume, revenue, and profitability objectives. DemandTec software services utilize DemandTec's science-based software platform to model and understand consumer behavior. DemandTec customers include more than 165 leading retail and consumer products manufacturers such as Advance Auto Parts, Best Buy, Circle K Stores, ConAgra Foods, Delhaize America, Dr Pepper Snapple Group, General Mills, Giant-Carlisle, H-E-B Grocery Co., Hormel Foods, Monoprix, Safeway and Sara Lee. Connected via the DemandTec TradePoint Network(TM), DemandTec customers have collaborated online on more than 2 million trade deals. For more information, please visit http://www.demandtec.com/.
DemandTec Safe Harbor
This press release contains forward-looking statements regarding DemandTec's expectations, hopes, plans, intentions or strategies, including statements about the effectiveness of DemandTec's solutions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in DemandTec's documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to DemandTec as of the date hereof, and DemandTec assumes no obligation to update these forward-looking statements.
DemandTec and the DemandTec logo are registered trademarks of DemandTec, Inc. DemandTec TradePoint Network(TM) and DemandTec Trade Effectiveness(TM) are trademarks of DemandTec, Inc. All other trademarks are the property of their respective owners.
Media Contact:
Cassandra Moren, DemandTec, Inc.
(650) 226-4690
cassandra.moren@demandtec.com
DemandTec Investor Contact:
Tim Shanahan, DemandTec, Inc.
(650) 226-4603
tim.shanahan@demandtec.com
DemandTec, Inc.
CONTACT: Media, Cassandra Moren, +1-650-226-4690, cassandra.moren@demandtec.com, or Investors, Tim Shanahan, +1-650-226-4603, tim.shanahan@demandtec.com, both of DemandTec, Inc.
Web Site: http://www.demandtec.com/
TableMAX Installs Progressive Blackjack(R) and Caribbean Stud(R) Systems at Creek Nation Casino Okemah
LAS VEGAS, March 25 /PRNewswire-FirstCall/ -- TableMAX Gaming, Inc., a wholly owned subsidiary of TableMAX Corporation (Pink Sheets: TBLX), a developer of electronic table games, has installed two TableMAX Systems at Creek Nation Casino Okemah in Okemah, Okla.
The Creek Nation Casino Okemah's newly renovated and expanded casino now features the highly popular TableMAX Progressive Blackjack(R) System and a new Caribbean Stud(R) Poker System. TableMAX has placed its Systems in multiple locations at a rapid pace throughout California and Oklahoma. The two systems going live with Creek Nation, brings the total number of TableMAX positions to 100.
TableMAX CEO Stephen Crystal said, "We are very pleased with the quick progress we are making in Oklahoma and in other jurisdictions across the country, such as California. What we are most happy with is the positive response operators are getting from their players. Operators tell us their players love the games, and we believe that is the reason for the rapid expansion we are experiencing."
TableMAX's electronic versions of the popular table games Progressive Blackjack(R) and Caribbean Stud(R) Poker, and Caribbean Draw(R) Poker provide players a fun and relaxed community gaming experience through realistic graphics and digitally mastered sound.
About TableMAX CORPORATION
TableMAX is a developer of electronic table games and designs, engineers, and distributes patented electronic table games worldwide. TableMAX owns global rights to popular table game content, including Progressive Blackjack(R), Caribbean Stud(R) Poker, Caribbean Draw(R) Poker, Texas Hold 'Em Bonus(R) Poker and Bonus Blackjack(R).
FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the business of the TableMAX Corporation (the "Company") and its principal subsidiary, TableMAX Gaming, Inc., which can be identified by the use of forward-looking terminology such as "believes", "expects", or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, and competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated, or expected. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Contact:
Paul Speirs, Steinbeck Communications
(702) 413-4278, paulspeirs@cox.net
TableMAX Gaming, Inc.
CONTACT: Paul Speirs of Steinbeck Communications, +1-702-413-4278, paulspeirs@cox.net, for TableMAX Gaming, Inc.
Web Site: http://www.tablemax.com/
FutureIT Inc. Announces Fourth Quarter 2008 ResultsAnnual Revenues Increase 176% From 2007 and Quarterly Revenues Increase 19%
LOD, Israel, March 25 /PRNewswire-FirstCall/ -- FutureIT Inc. , a leading provider of software solutions for the automated and effective management of Microsoft SQL Servers, today reported its financial results for the fourth quarter and year ended December 31, 2008. All amounts are expressed in U.S. dollars and results are reported in accordance with U.S. GAAP. Revenues in the fourth quarter of 2008 were $145,000 compared to fourth quarter 2007 revenues of $122,000. Total revenues increased by $408,000, or 176%, to $640,000 in the year ended December 31, 2008 compared to $232,000 in 2007, Gross profit increased to $507,000, or 79% in 2008 compared with $69,000 , or 30% in 2007.
The company was successful in reducing its net loss to $1,214,000 in 2008, in comparison with the previous year's loss of $1,663,000.
"2008 was an exciting and challenging year for our company, and we have a lot to be proud of," said Shmuel Bachar, chairman and CEO of FutureIT. "The company showed extensive growth in 2008, in particular in the first two quarters of the year; but also felt the impact of the deteriorating global economy in the second half of the year. Deals became harder to close and growth slowed down relative to the previous two quarters. We have started 2009 with guarded optimism and are confident of our position within the SQL environment, despite market conditions remaining difficult. While continuing to encounter potential sales opportunities, securing deals is more challenging. We realistically understand the continuing impact of the state of the worldwide economy and expect that the second half of 2009 will be stronger than the first half."
"Our independent public accounting firm has issued an opinion on our consolidated financial statements that states that the consolidated financial statements were prepared assuming we will continue as a going concern and further states that our recurring losses from operations, stockholders' deficit and inability to generate sufficient cash flow to meet our obligations and sustain our operations raise substantial doubt about our ability to continue as a going concern. Our future is dependent on our ability to raise additional financing, which we are seeking, and increase our sales to a level that will support our operations." concluded Mr. Bachar.
Fiona Rosenberg-Niddam, Director of International Sales and Marketing at FutureIT commented, "In face of the current economic downturn, more and more companies are looking to cut operating expenses, which opens up new opportunities for FutureIT. EZManage SQL dramatically reduces both the cost and the time associated with proactively managing SQL Servers 24/7 and has an immediate ROI. This allows us to expand even in the current climate as demonstrated by our recent establishment of new business partners in USA, Canada, UK, France and Sweden. In light of the above, FutureIT is optimistic it can weather the market's difficult conditions."
About FutureIT
FutureIT is engaged in the development, marketing, sale and support of software products that provide easy-to-use comprehensive database management, backup and monitoring solutions for both small and medium sized enterprises, or SMEs, and larger enterprises, running different Microsoft Structured Query Language, or SQL servers, versions 2000, 2005 and 2008, as well as Microsoft SQL Server Desktop Engine, or MSDE and SQL Express.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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 Company undertakes no obligation to publicly release updates to these forward-looking statements made to reflect new events or circumstances after the date hereof. Neither the Company nor its agents assume responsibility for the accuracy and completeness of the forward-looking statements.
CONSOLIDATED BALANCE SHEET (US $)
December 31,
2008 2007
ASSETS
Current assets
Cash and cash equivalents $ 44,445 $ 1,020,767
Trade accounts receivable, net of allowance
for doubtful accounts of $ 0 and $ 3,805 as
December 31, 2008 and December 31, 2007,
respectively 43,846 58,442
Other receivables and prepaid expenses 20,443 4,506
Total current assets 108,734 1,083,715
Property and equipment
Cost 54,695 49,255
Less - Accumulated depreciation and
amortization 31,552 18,086
Property and equipment, net 23,14 31,169
Long Term Deposits 4,163 6,304
Total assets $ 136,040 $ 1,121,188
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current liabilities
Short Term loans from Shareholders $ 234,210 $ -
Current maturities of long-term debt 491,773 191,678
Trade accounts payable 43,540 32,821
Other payables and accrued expenses 582,037 342,550
Deferred revenues 155,399 319,912
Total current liabilities 1,506,959 886,961
Long term loans
Loan from bank 250,146 416,656
Loan from a related party 324,997 541,666
Total long term loans 575,143 958,322
Accrued severance pay, net 5,225 5,151
Stockholders' deficiency
Share capital:
Common Stock of $ 0.0001 par value:
Authorized -35,000,000 as of December 31,
2008 and as of December 31,2007; Issued and
Outstanding - 24,340,000 as of December 31,
2008 and 23,840,000 as of December 31, 2007 2,434 2,384
Additional paid in capital 2,090,892 2,099,307
Accumulated deficit (4,044,613) (2,830,937)
Total Stockholders' deficiency (1,951,287) (729,246)
Total liabilities and stockholders'
deficiency $ 136,040 $ 1,121,188
CONSOLIDATED STATEMENTS OF OPERATIONS (US $)
Year ended
December 31,
2008 2007 2006
Revenues 639,635 232,112 162,169
Cost of revenues 132,945 163,221 18,042
Gross profit 506,690 68,891 144,127
Expenses
Research and development 229,034 72,913 574,831
Marketing and selling expenses 460,374 347,371 77,898
General and administrative 943,080 1,054,454 249,880
Operating expenses 1,632,488 1,474,738 902,609
Operating loss before financial
expenses, net 1,125,798 1,405,847 758,482
Financial expenses, net 86,617 252,279 67,689
Loss before taxes 1,212,415 1,658,126 826,171
Taxes 1,261 4,974 -
Net Loss $ 1,213,676 $ 1,663,100 $ 826,171
Basic and diluted net loss per
share (0.05) (0.07) (0.05)
Number of shares used in
computing basic and diluted net
loss per share 23,987,541 23,840,000 15,500,000
Contacts:
FutureIT, Inc.
CEO
Shmuel Bachar
+972-8-925-8070
Shmuelb@futureitsoft.com
Marketing, PR and IR Manager
Sherry Kagan Segal
+972-8-925-8156
sherryks@futureitsoft.com
FutureIT Inc.
CONTACT: Contacts: FutureIT, Inc., CEO, Shmuel Bachar, +972-8-925-8070, Shmuelb@futureitsoft.com; Marketing, PR and IR Manager, Sherry Kagan Segal, +972-8-925-8156, sherryks@futureitsoft.com
Auto Manufacturers Continue to Advertise SUVs Online Over More Fuel-Efficient Models, According to comScore Ad MetrixFord Motor Company Ranks as Top Automotive Advertiser Online Reaching one-third of U.S. Online Audience
RESTON, Va., March 25 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today released the results of a study of online automotive advertising, based on data from the comScore Ad Metrix service, including the debut release of data from comScore's new product-level dictionary.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
The study revealed that Ford Motor Company was the top auto advertiser in January with 481 million display ad impressions, followed by Toyota with 384 million and General Motors with 316 million. The top ten auto manufacturers accounted for 58 percent of the 1.9 billion ad impressions in the segment, with the "Big Three" U.S. automakers (Ford, GM and Chrysler) accounting for 26 percent.
Top Advertisers among Auto Manufacturers by Total Display Ad Impressions
January 2009
Total U.S. - Home/Work/University Locations
Source: comScore Ad Metrix
Total Display Share of Auto Advertising Advertising
Ad Ad Exposed Exposed
Impressions Impressions Unique Reach (% of
(000) Persons Internet
(000) Users)
Auto
Manufacturers 1,949,570 100.0% 120,135 65.1%
Ford Motor
Company 480,734 14.7% 59,829 32.4%
Toyota 384,166 11.7% 45,874 24.9%
General Motors 316,493 9.7% 44,438 24.1%
Mercedes-Benz 265,063 8.1% 37,284 20.2%
Honda 163,387 5.0% 28,020 15.2%
Nissan 126,773 3.9% 21,064 11.4%
Hyundai Motors
Inc. 55,773 1.7% 6,317 3.4%
Volkswagen 46,407 1.4% 13,125 7.1%
BMW 28,273 0.9% 4,776 2.6%
Chrysler LLC 23,793 0.7% 6,608 3.6%
Automotive advertisers delivered nearly 2 billion ad impressions and reached 120 million people, or 65 percent of the total Internet audience, in January 2009. This represents a decline of 43 percent in online ad impressions for the auto industry versus January 2008.
GMC Yukon the Most Advertised SUV Online, Chevy Malibu Tops among "Green" Models
As part of the study, comScore identified the most advertised SUV and Fuel Efficient/Hybrid vehicles using the new comScore Ad Metrix product dictionary, which allows an identification of online advertisements at the product level. Interestingly, the auto companies delivered nearly six times more display ads for SUVs (65.0 million) than Fuel-Efficient/Hybrid models (9.9 million) in January 2009. The most advertised SUV model online was the GMC Yukon, with 22 million ad impressions, followed by the KIA Borrego (10.3 million) and Toyota Sequoia (8.5 million).
Top SUV Models Advertised Online by Total Display Ads
January 2009
Total U.S. - Home/Work/University Locations
Source: comScore Ad Metrix
Total Display Advertising Advertising Average
Ad Exposed Reach (% of Frequency
Impressions Unique Internet (No. of Ad
(000) Persons Users) Impressions
(000) per Person)
Total SUVs 64,951 16,997 9.2% 3.8
GMC Yukon 21,986 8,124 4.4% 2.7
KIA Borrego 10,315 2,133 1.2% 4.8
Toyota Sequoia 8,498 1,705 0.9% 5.0
Toyota Highlander 4,104 1,321 0.7% 3.1
Ford Flex 4,050 1,318 0.4% 3.1
Meanwhile, the top "green" model advertised online was the Chevy Malibu, which received 1.4 million ad impressions promoting its fuel-efficiency or hybrid model, followed by the Lexus LS Hybrid (1.2 million) and Lexus RX Hybrid (1.0 million).
Top Fuel-Efficient/Hybrid Models Advertised Online by Total Display Ads
January 2009
Total U.S. - Home/Work/University Locations
Source: comScore Ad Metrix
Total Display Advertising Advertising Average
Ad Exposed Exposed Frequency
Impressions Unique Reach (% of (No. of Ad
(000) Persons Internet Impressions
(000) Users) per Person)
Total
Fuel-Efficient/Hybrids 9,852 4,357 2.4% 2.7
Chevrolet Malibu 1,409 640 0.3% 2.2
Lexus LS 1,239 607 0.3% 2.0
Honda Civic 1,180 423 0.2% 2.8
Toyota Prius 1,077 314 0.2% 3.4
Lexus RX 1,046 579 0.3% 1.8
"The collective online advertising strategy of automakers shows a low level of online advertising for their green models and higher levels for their heavier gas consumption vehicles," said Jeff Hackett, comScore senior vice president. "While SUVs may still drive a larger share of sales for the automakers, comScore research has shown that online is an effective brand-building medium and now might be a good time to begin shifting allocation of dollars and mindshare towards the models of the future."
About comScore
comScore, Inc. is a global leader in measuring the digital world and preferred source of digital marketing intelligence. For more information, please visit http://www.comscore.com/companyinfo.
Photo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
comScore, Inc.
CONTACT: Casey Becker of comScore, Inc., +1-312-777-8846, press@comscore.com
Web Site: http://www.comscore.com/
CSC Positioned in 'Leaders' Quadrants of Desktop and Help Desk Outsourcing Reports
FALLS CHURCH, Va., March 25 /PRNewswire/ -- CSC today announced that it has been positioned in the "leaders" quadrants of two Gartner reports, "Magic Quadrant for Desktop Outsourcing Services, North America," authored by Richard T. Matlus and William Maurer, and published on March 3, 2009; and "Magic Quadrant for Help Desk Outsourcing, North America," authored by Richard T. Matlus, William Maurer and Lilian Dutra, and published on March 4, 2009. The reports evaluate external service providers (ESPs) based on their ability to execute and their completeness of vision.
"We are pleased to be included in the Leaders quadrant in these two reports, which we believe recognize CSC's understanding of evolving technology trends and ability to provide customers with high quality services during a shifting economy," said Russ Owen, president of CSC's Americas Commercial Group. "As we continue to invest in a wide range of innovative outsourcing services, such as our Virtual Desktop Services offerings brought to market with our partnerships with Citrix, Microsoft and Sun, we believe these positions confirm CSC's experience and industry leadership in both help desk and desktop services across the Americas."
The Market Overview section of the desktop report states the desktop outsourcing services market is a mature service offering with a 2008 compound annual growth rate of 4.2 percent in North America and 5.1 percent worldwide. The same section of the help desk report states that the help desk management service market will grow at a 4.9 percent compound annual growth rate, from $9 billion in 2006 to $11.5 billion in 2011.
Gartner determines the positioning of service providers within the Magic Quadrant based on formal presentations by participating vendors, client reference checks, and analyst knowledge of the market and enterprise wants and needs. ESPs were required to have at least $45 million in annual desktop services revenue to qualify for the desktop outsourcing report and at least $15 million in annual help desk service revenue to qualify for the help desk outsourcing report.
About the Gartner Magic Quadrant
The Magic Quadrants are copyrighted 2009 by Gartner, Inc. and are 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 certain 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 warranties of merchantability or fitness for a particular purpose.
About CSC
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $17.1 billion for the 12 months ended Jan. 2, 2009. For more information, visit the company's Web site at http://www.csc.com/.
CSC
CONTACT: Rich Venn, Manager, Media Relations, Corporate, +1-310-615-3926, rvenn@csc.com, or Susan Pullin, Vice President, Industry Analyst Relations, Corporate, +1-703-641-3456, spullin@csc.com, both of CSC
Web Site: http://www.csc.com/
Sikorsky Aircraft Delivers 100th New Production UH-60M BLACK HAWK Helicopter to U.S. Army
STRATFORD, Conn., March 25 /PRNewswire-FirstCall/ -- In a rollout ceremony attended by government officials, armed services personnel, and employees, Sikorsky Aircraft Corp. today celebrated delivery of the 100th new production UH-60M BLACK HAWK helicopter to the U.S. Army. Sikorsky is a subsidiary of United Technologies Corp. .
(Logo: http://www.newscom.com/cgi-bin/prnh/20060403/SIKORSKYLOGO )
With a new airframe, avionics and propulsion system, the UH-60M helicopter is the latest and most modern in a series of BLACK HAWK variants that Sikorsky has been delivering to the Army without interruption since 1978.
"The UH-60M helicopter delivers great technology and a load of confidence based on Sikorsky's three decades of experience in designing, building and servicing the workhorse of the United States Army," said Sikorsky President Jeffrey P. Pino, a retired U.S. Army Master Aviator with 26 years of combined active, reserve and National Guard service. "I can talk about the aircraft's reduced pilot workload, increased lift, better protection and enhanced survivability, but nothing means more than when soldiers tell us how much they depend on and trust this helicopter."
Col. L. Neil Thurgood, Utility Helicopters Project Manager for the U.S. Army, noted an entire battalion of the aircraft has deployed to Afghanistan. "The UH-60M BLACK HAWK has been warmly received by our soldiers who appreciate its performance, durability and robust design," said Col. Thurgood, who spent time with employees in the Stratford plant, thanking them for the important part they play in America's defense.
The Army currently has more than 1,740 BLACK HAWK variants with more than 5.8 million combined flight hours in inventory, constituting the world's largest and most battle-tested BLACK HAWK fleet. The Army BLACK HAWK fleet will soon exceed more than 1 million hours of combat duty in the Iraq and Afghanistan war theaters since 2003.
"The BLACK HAWK is a great aircraft, the military's battlefield transport of choice," Pino said. "With the UH-60M helicopter, the Army and Sikorsky are building upon that tradition and ensuring that it will continue for generations to come."
The UH-60M helicopter's new composite spar wide-chord blade will provide 227 kg (500 lbs) more lift than the current UH-60L blade. The new General Electric T700-GE-701D engine will add more horsepower and allow additional lift during external lift (sling load) operations.
The UH-60M helicopter represents the Army's third standard baseline BLACK HAWK version in the 30-year production history of the program. Sikorsky delivered the UH-60A BLACK HAWK helicopters from 1978 until 1989, and delivered the UH-60L from 1989 until 2008. Not content with the status quo, Sikorsky is even now working on an upgrade to the UH-60M helicopter. The upgrade will feature fly-by-wire flight controls, full authority digital engine controllers, enhanced cockpit displays and a composite tail-cone. Brig. General Walter Davis, Director of Army Aviation, received a briefing on this effort.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture and service. Its mission statement reflects the company's long commitment to safety and innovation: "We pioneer flight solutions that bring people home everywhere... every time(TM)." More information is available at the interactive http://www.sikorsky.com/ Web site.
United Technologies Corp., based in Hartford, Conn., provides a broad range of high technology products and support services to the aerospace and building systems industries.
Photo: http://www.newscom.com/cgi-bin/prnh/20060403/SIKORSKYLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Sikorsky Aircraft Corp.
CONTACT: Paul Jackson, +1-203-386-7143, Paul.Jackson@sikorsky.com, or Marianne Heffernan, +1-203-386-4373, mheffernan@sikorsky.com, both of Sikorsky
Web Site: http://www.sikorsky.com/
Logic Instrument : contrat de 2 MEUR avec EWE
DOMONT, France, March 25 /PRNewswire/ -- Logic Instrument, via sa filiale allemande, a été choisi par
le fournisseur d'énergie allemand EWE, pour la livraison de plusieurs
centaines d'ordinateurs durcis. Très légers et résistant à des températures
élevées, ces appareils sont destinés à la maintenance sur le terrain des
infrastructures d'EWE.
La commande, d'un montant global de 2 MEUR, sera livrée en
trois tranches réparties sur l'année 2009.
5ème fournisseur d'énergie allemand, EWE a réalisé un chiffre
d'affaires de 4,7 Mds EUR en 2007 et dégagé un résultat net de 300 MEUR. Avec
près de 5 000 salariés, le groupe fournit de l'électricité à plus d'1 million
de clients et alimente en gaz naturel environ 770.000 foyers.
A côté de ce métier historique, qui représente 75 % de son
chiffre d'affaires, EWE a développé deux autres activités :
- réseaux d'infrastructures
- télécommunications fixe, mobile et internet
EWE est noté A2 par Moody's et A - par Standard & Poor's pour
ses programmes obligataires.
<< Nous sommes doublement fiers de ce contrat. D'une part,
cette commande témoigne une nouvelle fois de la qualité de nos produits et de
notre capacité à répondre aux besoins des clients les plus exigeants. D'autre
part, elle atteste le bien fondé de notre stratégie en Allemagne, où nous
nous recentrons depuis un an sur de plus gros contrats >>, commente Jacques
Gebran, Directeur Général de Logic Instrument.
Prochaine communication le 27 avril 2009 après bourse :
résultats 2008
A propos de Logic Instrument (ALLOG) http://www.logic-instrument.com
Créée en 1987 et labellisée Oseo Anvar depuis 2004, l'entreprise a
réalisé en 2008 un CA (non audité) de 11 MEUR répartis entre ses deux métiers
:
- la conception et la fabrication d'ordinateurs industriels durcis
destinés aux environnements extrêmes : 65 % du CA
- la distribution d'instruments de tests et mesures : 35 % du CA
Ses clients sont principalement de grands groupes internationaux privés
ou publics.
Contact : Jacques Gebran, Logic Instrument, +33-(0)1-39-35-61-61,
j.gebran@logic-instrument.com
Catherine Kablé, Kablé Communication Finance, +33-(0)1-44-50-54-75,
catherine.kable@kable-cf.com
Stéphanie Roy, Kablé Communication Finance, +33-(0)1-44-50-54-71,
stephanie.roy@kable-cf.com
Logic Instruments
Contact : Jacques Gebran, Logic Instrument, +33-(0)1-39-35-61-61, j.gebran@logic-instrument.com. Catherine Kablé, Kablé Communication Finance, +33-(0)1-44-50-54-75, catherine.kable@kable-cf.com. Stéphanie Roy, Kablé Communication Finance, +33-(0)1-44-50-54-71, stephanie.roy@kable-cf.com
Telcos Need Better OSS Processes to Stem Revenue Losses, Report FindsEmploying better order-to-cash processes is necessary for telecom operators to avoid more revenue loss, says Light Reading's Software Services Insider
NEW YORK, March 25 /PRNewswire/ -- As competition for business and consumer services intensifies, telecom operators need to implement more efficient order-to-cash processes to streamline time-to-market, billing, and service fulfillment or risk further revenue losses to more nimble competitors, according to the latest report from Light Reading's Services Software Insider (http://www.lightreading.com/servsoftware), a paid research service of TechWeb's Light Reading (http://www.lightreading.com/).
Order to Cash: How SOA Can Break Down Telco OSS Silos analyzes the scope of the order-to-cash process and how the need to sell a next generation of products is driving demand for a service oriented architecture (SOA)-based operation support system/business support system (OSS/BSS) architecture. The 33-page report looks at process and system areas that are challenging telco process architects as they try to consolidate and manage product data centrally and create a future-proof process that spans fulfillment and billing domains. This report also analyzes how vendors are responding to operator order-to-cash challenges.
For a list of companies analyzed in this report, http://img.lightreading.com/ssi/pdf/ssi0309companies.pdf
"With order fallout rates reaching 40 percent or more and time to market delays of three to six months as they struggle to integrate new products with billing and fulfillment systems, operators are targeting the order-to-cash process as ripe for transformation," says Caroline Chappell, research analyst with Light Reading's Services Software Insider and author of the report. "The need to support order-to-cash in a more flexible and standardized way across the business is leading the most advanced operators to adopt service-oriented architecture concepts and technologies."
SOA technologies are playing a large role in the order-to-cash solution; however, operators must ensure they are thinking of the future and not just the present time when implementing their fixes, Chappell states. "OSS/BSS vendors are re-engineering their products using SOA concepts and technologies, often to address the same integration problems that operators have faced," she says. "In the current economic climate, as operators go for 'quick fixes,' they should be careful that these do not play into the hands of vendors, creating more OSS/BSS silos that may make them less agile in the future."
Key findings of Order to Cash: How SOA Can Break Down Telco OSS Silos include:
-- Operators view the order-to-cash process as the proof point for an SOA
approach to OSS/BSS transformation, but metrics are still needed to
convince the wider market
-- An SOA approach to order-to-cash can help speed up the ingestion and
integration of third-party products as service providers expand their
product portfolios
-- The common product catalog is emerging as a big winner as the market
moves toward a more consolidated, end-to-end approach to order-to-cash
-- Operators in the TM Forum Blueprint Initiative will pressure vendors
to align their products with emerging Blueprint business services
Order to Cash: How SOA Can Break Down Telco OSS Silos is available as part of an annual single-user subscription (six issues) to Light Reading's Services Software Insider, priced at $1,295. Individual reports are available for $900 (single-user license).
To subscribe, or for more information, please visit: http://www.lightreading.com/servsoftware. 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
UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently. For more information, go to http://www.unitedbusinessmedia.com/.
Light Reading's Services Software Insider
CONTACT: Jeff Claudino, Director of Sales, +1-619-229-9940, claudino@lightreading.com; or Press/analyst contact: Dennis Mendyk, Managing Director, +1-201-587-2154, mendyk@heavyreading.com, both of Insider Research Services
Web Site: http://www.lightreading.com/ http://www.lightreading.com/servsoftware
Wanderport Corporation Update and Stock Buyback Program
NEW YORK, March 25 /PRNewswire-FirstCall/ -- Technology holding company Wanderport Corp. (PINKSHEETS: WDRP) announced that the recent trip to China more specifically in the Province of Guangzhou, served to strengthen ties with manufacturers to allow for greater payment terms and reduced production and shipping cost, thus enabling LDI Technology to reduce its products prices. This trip to Asia was also an opportune time for management to meet these same manufacturers to discuss other possible product lines to be marketed and distributed and installed in the near future.
Concerning negotiations with the Panama City officials, LDI Technology reports that they are currently under way to receive approval by way of four purchase orders to update areas in the Panama Canal region as well as the city's highways, streets and other infrastructure projects with LDI Technology products.
Wanderport Corporation today also announces that its Board of Directors approved a stock repurchasing program, which will be implemented from time to time and subject to market conditions. The repurchasing plan has been approved for up to 5,000,000 shares of Wanderport Corporation's outstanding common stock, on the open market or in privately negotiated transactions. This represents about (12.5%) of the float (40,000,000). Repurchases are authorized to begin on the second week of April 2009 following the release of LDI Technology's financial information concerning sales.
"Wanderport Corporation's direction has managed to turn around the company and entered the field of "green" energy with success already apparent," stated Barry Sommervail, WDRP's President. He then went on to state that "Wanderport's present share value presents an attractive investment and our intended program will better reflect the strength of our company."
LDI Technology is currently undergoing an "image" overhaul that will include a new company website and a new logo to signify the change in the direction from mainly focused on research and development towards an effort in increasing sales and notoriety in the industry. LDI Technology will be attending the 20th Edition of LightFair(TM) International 2009 tradeshow in New York in early May which is the largest lighting industry gathering and attracts some of the biggest names in the industry as well as thousands of lighting professionals and buyers.
LDI Technology is focused on developing and offering a long lasting, energy efficient product to brighten our planet's future.
As previously reported, WanderPort Corporation has purchased interests in an LED technology company whose R&D department have managed to develop a lighting technology far superior as to what is currently available on the market. Statistically, LED lighting tends to cut up to 80% of energy use and lasts much longer than regular incandescent or fluorescent bulbs. The lighting company intends to create a bulb that lasts up to ten years.
WanderPort Corp. has opened a temporary new website at http://www.wanderportcorporation.com/, which contains all company information as well as all updated contact information.
Forward-looking Statement:
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.
WanderPort Corporation
CONTACT: WanderPort Corporation, Barry Sommervail, President and Secretary, (917)-338-7957, b.sommervail@wanderportcorporation.com
Arbitron Updates Record Date for 2009 Annual Meeting
COLUMBIA, Md., March 25 /PRNewswire-FirstCall/ -- Arbitron Inc. today announced a change to the record date for determining the stockholders entitled to notice of and the right to vote at the company's 2009 annual meeting of stockholders.
The new date record date is April 3, 2009.
As previously announced, the 2009 annual meeting of stockholders is scheduled for Tuesday, May 26, 2009 at 9:00 a.m. local time at the Mandarin Oriental Hotel, 80 Columbus Circle at 60th Street, Time Warner Center, New York, NY 10023.
About Arbitron
Arbitron Inc. is an international media and marketing research firm serving radio broadcasters, cable companies, advertisers, advertising agencies and outdoor advertising companies. Arbitron's core businesses are measuring network and local market radio audiences across the United States; surveying the retail, media and product purchase patterns of local market consumers; and providing application software used for analyzing media audiences and marketing information. The Company has also developed the Portable People Meter(TM) system, a new technology for media and marketing research.
Arbitron's headquarters and its research & technology organization are located in Columbia, Maryland.
Portable People Meter(TM) is a mark of Arbitron Inc.
Arbitron Inc.
CONTACT: Thom Mocarsky of Arbitron Inc., +1-410-312-8239, thom.mocarsky@arbitron.com
Web Site: http://www.arbitron.com/
VisualOn Integrates On2 VP6 Video Into Mobile Multimedia ApplicationsOn2 VP6 Video Playback Becoming a Prerequisite for Mobile Applications
CLIFTON PARK, N.Y. and CAMPBELL, Calif., March 25 /PRNewswire-FirstCall/ -- On2 Technologies (NYSE Amex: ONT), a leader in video compression solutions, announced today that it has licensed its On2 VP6(R) video format and software to VisualOn, Inc. VisualOn will optimize and integrate VP6 decoding software into its multimedia application suite for mobile platforms.
On2 VP6, through its inclusion in the Adobe Flash and Sun JavaFX application platforms, has become the de facto format for web video and a fundamental requirement for Internet-connected mobile devices.
When compared to H.264 Baseline profile (an emerging video format used in wireless applications) On2 VP6 content offers 10% to 20% better video compression performance while requiring less computing power to play. As a result, VP6 enables a wider range of mobile devices to play high-quality content without sacrificing battery life. For more information about On2 VP6 visit http://www.on2.com/on2video.
VisualOn's highly optimized software applications allow consumers to play rich multimedia content on mobile devices without expensive dedicated hardware. VisualOn's highly optimized power-efficient software codecs and multimedia applications offer everything needed to enable video, audio, and still image applications on mobile devices.
"We are pleased to have VisualOn optimize and integrate On2 VP6 to their application suite," said Matt Frost, COO and interim CEO of On2 Technologies. "They have exceptional skill and experience in delivering highly optimized multimedia software for mobile devices, and we look forward to seeing high-performance playback of our codec as an integral part of their solutions."
"The widespread presence of On2 VP6 content on the web makes it an essential format for VisualOn's product portfolio," said Yang Cai CEO of VisualOn. "Adding VP6 to our application suite will enable mobile users to watch high-quality VP6 without requiring a bleeding-edge processor or a pocketful of batteries. Our customers as well as consumers ultimately benefit from the high quality, lower power, and reduced cost achieved through VisualOn's partnership with On2."
About VisualOn
VisualOn, Inc. is a Silicon Valley based mobile software company that enables a rich multimedia experience on handheld devices, without the need for expensive hardware. VisualOn's unique patent-pending technology is optimized for quality, performance, and minimal power consumption. It supports video and audio applications, including mobile TV and streaming, with quality levels that rival the Apple iPhone. VisualOn's software offerings include support for all popular video and audio formats. Its solutions are available as plug-ins for Windows Mobile Media Player or as an SDK for integration with third party applications. For more information, please visit http://www.visualon.com/.
About On2 Technologies
On2 (NYSE Amex: ONT) creates advanced video compression technologies that power the video in today's leading desktop and mobile applications and devices. On2 customers include Adobe, Skype, Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, and Move Networks. On2 Technologies is headquartered in Clifton Park, NY USA. For more information visit http://www.on2.com/.
Trademarks mentioned in this release are the property of their respective owners.
On2 Technologies
CONTACT: Chris Pfaff, On2 Technologies, Inc., +1-973-509-6565, chris@chrispfafftechmedia.com
Web Site: http://www.on2.com/
GameHouse and Mattel Take UNO(TM) Live on Facebook(R) PlatformNew Online Version Makes 'America's #1 Brand of Card Games' Even More Social
SAN FRANCISCO, March 25 /PRNewswire-FirstCall/ -- From the Game Developers Conference(R) in San Francisco, GameHouse(R), the casual games development studio of RealNetworks(R), Inc. , and Mattel, Inc. today announced the availability of UNO(TM) BETA on Facebook. This social game adaptation of America's number one card game was developed as part of Real and Mattel's exclusive multi-year agreement, following the release of SCRABBLE(R) Worldwide on Facebook Platform last year.
"Through our partnership with Real, we're able to bring popular brands like UNO to longstanding fans in a new way, while also reaching new players around the globe," said Cynthia Neiman, vice president of marketing for the Mattel Digital Network. "UNO for Facebook offers a new, interactive experience that people will love, combined with the addictive fun that's been attracting players to the game for nearly 40 years."
Since it was introduced by Mattel in 1971, more than 200 million UNO(R) games have been sold, in more than 80 countries. Launched by GameHouse just a few weeks ago, the UNO(TM) Facebook application is a digital adaptation of this popular card game that lets Facebook users around the world connect for a little friendly competition and fun. To date, GameHouse has served more than 250,000 games of UNO to players in 134 countries, with someone new trying their first game every 30 seconds.
In the game of UNO(TM), players use a deck of 112 playing cards featuring four different suits in four bright colors that include moves like "Draw Two," "Skip" or "Draw Four Wild." These simple commands can move a player to the top of the winner's circle or to the bottom of the deck. In the Facebook application, four players compete to be the first to use up all the cards in their hands. Points are won based on the cards left in all your opponents' hands, and every player has a best round score that they constantly strive to beat. While the Facebook application tracks player progress over time and names a winner after each round, in the original card game players compete in back to back games to be the first to reach 500 points and claim victory.
"Who doesn't have fond memories of playing UNO?" asks Matt Turetzky, vice president of RealGames. "With the perfect balance of fun and simplicity, UNO has the essential ingredients of a great casual game, and we're excited to partner with Mattel in taking this family favorite to the social space for Facebook users."
RealGames is a leader in the casual games industry worldwide and develops games for multiple platforms, with a vertically integrated development, publishing, licensing, distribution and retail business.
Facebook users can find UNO(TM) on Facebook at http://apps.facebook.com/liveuno/. GameHouse's other offerings on Facebook include SCRABBLE(R) and TextTwist(R).
RNWK - G
ABOUT REALNETWORKS
RealNetworks, Inc. delivers digital entertainment services to consumers via PC, portable music player, home entertainment system and mobile phone. Real created the streaming media category in 1995 and has continued to lead the market with pioneering products and services, including: RealPlayer(R), the first mainstream media player to enable one-click downloading and recording of Internet video; the award-winning Rhapsody(R) digital music service, which delivers more than 1 billion songs per year; RealArcade(R), one of the largest casual games destinations on the Web; and a variety of mobile entertainment services, such as ringback tones, offered to consumers through leading wireless carriers around the world. RealNetworks' corporate information is located at http://www.realnetworks.com/company.
ABOUT MATTEL, INC.
Mattel, Inc., (http://www.mattel.com/) is the worldwide leader in the design, manufacture and marketing of toys and family products. The Mattel family is comprised of such best-selling brands as Barbie(R), the most popular fashion doll ever introduced, Hot Wheels(R), Matchbox(R), American Girl(R), Radica:(R) and Tyco(R) R/C, as well as Fisher-Price(R) brands, including Little People(R), Power Wheels(R) and a wide array of entertainment-inspired toy lines. Mattel is recognized as one of 2009's "100 Best Companies to Work For" by FORTUNE Magazine. With worldwide headquarters in El Segundo, Calif., Mattel employs approximately 30,000 people in 43 countries and territories and sells products in more than 150 nations. Mattel's vision is to be the world's premier toy brands - today and tomorrow.
UNO and associated trademarks and trade dress are owned by, and used under license from Mattel, Inc. (C) 2009 Mattel, Inc. All Rights Reserved.
SCRABBLE(R) is a registered trademark. All intellectual property rights in and to the game are owned in the United States by Hasbro, Inc., in Canada by Hasbro Canada, Inc., and throughout the rest of the world by J.W. Spear & Sons, Ltd., a subsidiary of Mattel, Inc. SCRABBLE(R) and associated trademarks and trade dress are used under license from Mattel, Inc. All Rights Reserved. The Mattel name and logo are trademarks of Mattel, Inc. and used with permission. Mattel and J.W. Spear & Sons are not affiliated with Hasbro or Hasbro Canada.
RealNetworks, GameHouse, RealArcade, Text Twist, Rhapsody, RealPlayer and the Real logo are trademarks or registered trademarks of RealNetworks, Inc. or its subsidiaries.
America's #1 Brand of Card Games
Source: The NPD Group / Consumer Tracking Service
Service: Annual 2008
Facebook(R) is a registered trademark of Facebook Inc.
GameHouse
CONTACT: Tiffany Dunning of RealNetworks/GameHouse, +1-206-892-6733, tdunning@real.com; or Suzanne Aronowitz of SHIFT Communications, +1-617-779-1814, saronowitz@shiftcomm.com, for GameHouse; or Chris Volk of Mattel, +1-310-252-4374, chris.volk@mattel.com
Syndication Re-Signs 'Adventure Web Productions,' Award Winning Marketing Firm; CEO Asked Board of Directors (BOD) to Consider an Additional Rescission of 300 Million Common Shares
DAMASCUS, Md., March 25 /PRNewswire-FirstCall/ -- Syndication Inc. (Pink Sheets: SYNJ) is proud to announce that it has re-signed "Adventure Web Productions," a Baltimore, Maryland-based award-winning full-service custom marketing and software development firm to handle the product branding and marketing of Syndication, Pinnacle Energy and its Spinal Decompression Division. Adventure Web will develop the systems for an interactive communication platform designed to disseminate principal information to its vendors and public shareholders. The Company's website should be active within the next 2 weeks. The website was about to go active but was put on hold when the Company's equity financing evaporated in August of 2008 when the financial markets in the US and around the world melted down. "We're back on," says Brian Sorrentino, CEO of Syndication Inc. The site is expected to highlight Syndication Inc. (the parent Company) and Sy-Med Decompression. However, due to the sensitive nature of the developments currently under way, 'Pinnacle Energy' will be listed as 'Under Construction.' Further information from the Company acknowledged the action of the CEO who asked the BOD to consider an additional 300 million share rescission of the Company's common stock to Treasury. "We are involved in the process of Federal and State Funding, the issuance of a dividend, equity financing and taking on additional partners. The company needs to make room for a balanced capital expansion and my request of the BOD to rescind an additional 300 million shares is analogous with a responsible and comprehensive Company Capitalization Policy designed to increase equity valuation, enhance the potential for equity investment, discourage short trading activity and, most importantly, foster a longer term investor attitude," said Sorrentino. The Company indicates that additional announcements are pending.
Brian Sorrentino, the CEO of Syndication and Co-Leader of Maryland's 6th District for the Pickens Alternative Energy Plan, wants to remind our shareholders to help their Company promote its political presence in the alternative energy industry. Please register for the Pickens Plan Virtual March on Washington, scheduled this April 1st to 3rd. Register under the 6th district by using Syndication's address, (Box 503, Damascus, Maryland 20872), and help promote Syndication's political influence in the Alternative Energy Industry and with our Senators Barbra Mikulski, Ben Cardin, and Congressmen Roscoe Bartlett. Register at: http://www.pickensplan.com/virtualmarch.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
New Contact Information: Syndication Inc
Brian Sorrentino
Phone # 888-422-5515
For all mail correspondence:
PO Box 503
Damascus, MD 20872
Syndication Inc.
CONTACT: Brian Sorrentino of Syndication Inc, +1-888-422-5515
Los Angeles County Customers Receive More 3G Coverage With 13 New Verizon Wireless Cell SitesInvestment increases consumer value as demand grows for calls, email, text, web, video and music
IRVINE, Calif., March 25 /PRNewswire/ -- Los Angeles County residents, businesses and visitors are enjoying improved service thanks to 13 new Verizon Wireless cell sites. The sites expand 3G wireless coverage in:
-- Carson - This busy intersection of the 405 and 110 freeways at Anelo
Street, as well as portions of the 110 Freeway between the 405 and 91
freeways. It also provides new coverage to nearby business parks.
-- Downey - Sections of northern Downey from below Florence Avenue to
south of the 605 Freeway, and between Guatemala Avenue and Lakewood
Boulevard
-- Granada Hills - In residential areas from Sesnon Boulevard to Lisette
Street and from Doric Street to Balboa Boulevard. Also, coverage is
improved from Sesnon Boulevard to Nugent Drive and from Cascade Canyon
Drive to Daryl Avenue.
-- Los Angeles - The residential area around Silver Lake near the corner
of Lakewood/Armstrong Avenue West Covina - Along Grand Avenue south of
the 10 Fwy around the West Covina and Walnut city boundary. Coverage
is also improved in the hilly corridor along Grand Avenue between the
10 Fwy and Shadow Mountain Road.
-- Pico Rivera - Along San Gabriel Boulevard, including the south side of
Legg Lake in Whittier Narrows and El Monte. Also improves coverage in
Rose Hills and along Rosemead Boulevard and North Lincoln Avenue.
-- Rosemead - The intersection of Garvey Avenue and San Gabriel Boulevard
-- Rowland Heights - Portions of Fullerton Avenue and La Habra Boulevard
-- San Pedro - Portions of Gaffey Street, including neighborhoods to the
west between Western Avenue and Gaffey Street
-- Santa Clarita - Along McBean Parkway around the Henry Mayo Newhall
Memorial Hospital
-- Santa Monica - In the northern sections of the city, especially near
the end of Montana Avenue and 15th Street
The increase in network coverage and capacity means more calls, emails, text and picture messages for locals, plus expanded wireless access to the web.
Businesses of any size can tap into the power of Mobile Broadband. The service allows users to connect to the Internet wirelessly while on the go to download music over-the-air, and access e-mail or corporate data. For example, customers can download a small 1 megabyte PowerPoint(R) presentation in about eight seconds and upload the same-sized file in less than 13 seconds.
Small business owners interested in Mobile Broadband, and other wireless solutions, can visit http://smallbusiness.vzw.com/ where they will find:
-- An online forum to share experiences and connect with other business
owners
-- Access to Small Business Specialists in each Verizon Wireless store
-- Discounts and promotions to help businesses stretch their budgets
-- Summaries of mobile solutions like email, wireless Internet and Push
to Talk service
-- 24/7 tech support
Verizon Wireless tests its network and those of its competitors. The company determines if voice calls and data connections are successful on the first attempt and stay connected. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually. They drive on Interstate, U.S. and state highways, as well as major roads and streets in high-population areas, based upon U.S. Census counts. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 80 million customers. Headquartered in Basking Ridge, N.J., with more than 85,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: Ken Muche of Verizon Wireless, +1-949-286-8193, Ken.Muche@VerizonWireless.com
Web Site: http://www.verizonwireless.com/
Bookham Launches SFF Transponder With Electronic Dispersion Compensation
SAN JOSE, Calif., March 25 /PRNewswire-FirstCall/ -- Bookham, Inc. , a provider of optical components and modules to the telecom industry, has announced the launch of a 300 Pin Small Form Factor (SFF) transponder with Electronic Dispersion Compensation (EDC). The new product - TL9000M - will enable increased deployment flexibility and simplification of network design rules, delivering significant cost savings for network equipment manufacturers.
The 10Gb/s TL9000M combines the size and performance benefits of the existing Bookham SFF 300 Pin transponder with MLSD-based (maximum likelihood sequence detection) EDC to provide significant tolerance to chromatic dispersion (CD), polarization mode dispersion (PMD) and nonlinearities inherent in telecom networks. This will enable product deployment over a greater proportion of installed fiber routes, including those that will not currently support required spans of 80km at 10Gb/s without equalisation. The transponder will also eliminate the need for expensive pre-characterising of fiber paths for poor PMD performance.
"The inclusion of MLSD-based EDC into our small form factor transponder is a significant advancement that will allow network engineers to use this technology for all deployments," said Chris Clarke, VP Strategy and Chief Engineer Telecom Division at Bookham. "Our indium phosphide building blocks within the transponder allow the real estate to incorporate electronics that give our products a significant advantage in terms of performance. Combining this with the cost, size, and unrivalled power dissipation elements, Bookham will bring this technology from a niche application to potential industry-wide deployment."
The transponder incorporates the ClariPhy CL1012 clock and data recovery (CDR) integrated circuit (IC) with EDC. The IC utilizes MLSD technology in a low-cost, low-power CMOS process. The transponder is smaller than competing EDC-enabled offerings and offers lower power dissipation.
The existing Bookham TL9000, first launched in 2007, is significantly smaller than competing large form factor tunable 300pin transponders; the new transponder will retain this small form factor transponder footprint, enabled through the combination of the unique Bookham indium phosphide (InP) modulator technology and the ClariPhy low power dissipation single-chip EDC solution. The addition of this powerful transponder solution expands the Bookham portfolio of tunable devices, and maintains the company's leadership position in terms of performance and cost for SFF 300pin transponder development.
About Bookham
Bookham, Inc. is a leading provider of high performance optical products, spanning from components to advanced subsystems. The company designs and manufactures a broad range of solutions tailored for the telecommunications optical infrastructure and selected markets, including industrial, life sciences, semiconductor, and scientific. The Company utilizes proprietary core technologies and a vertically integrated manufacturing organization to provide its customers with cost-effective and innovative devices, as well as flexible, scalable product delivery. Bookham is a global company, headquartered in San Jose, Calif., with leading edge chip fabrication facilities in the UK and Switzerland, and manufacturing sites in the US and China.
Bookham and all other Bookham, Inc. product names and slogans are trademarks or registered trademarks of Bookham, Inc. in the USA or other countries. All other trademarks mentioned herein are the property of their respective companies.
Bookham, Inc.
CONTACT: Julie Molloy of Bookham, Inc., +44 (0) 7967 223 448, julie.molloy@bookham.com; or Howard Jones of Rooftop PR, +44 (0) 7500 849 738, howard@rooftop-pr.com
Web Site: http://www.bookham.com/
Lockheed Martin Opens Command Center for Supply Chain Management of All U.S. Military Automotive Parts
COLUMBUS, Ohio, March 25 /PRNewswire/ -- Lockheed Martin today opened a state-of-the-art command center to support the Fleet Automotive Support Initiative-Global (FASI-G) program. FASI-G is a Defense Logistics Agency program intended to provide automotive parts support for military vehicles.
The new Global Sustainment Command Center will be staffed by experienced logistics professionals who will oversee inventory forecasting, order management and distribution to ensure cost effective and reliable operations. The Command Center leverages Lockheed Martin's proven supply chain management solution to provide around-the-clock decision support and world-class supply chain execution services.
"This facility will provide robust and reliable service, leveraging recent innovations to meet the needs of the U.S. military," said Rich Lockwood, vice president of Lockheed Martin's New Ventures line of business. "Ultimately, it all comes down to supporting the warfighter with the right part at the right place at the right time, every time."
Lockheed Martin won the competition to support land-based vehicle sustainment for all tactical and non-tactical U.S. military land-based vehicles over 10 years. FASI-G is part of the Defense Department's initiative to improve logistics and sustainment support to forces around the world through performance based logistics.
Lockheed Martin's collaboration with small businesses is a key component of FASI-G, with 80 percent of the program's supplier base coming from that sector.
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 about Lockheed Martin, visit: http://www.lockheedmartin.com/
Lockheed Martin
CONTACT: Kim Martinez of Lockheed Martin, +1-973-294-8981, kimberly.martinez@lmco.com
Web Site: http://www.lockheedmartin.com/
Company News On-Call: http://www.prnewswire.com/comp/534163.html
GVI Security Solutions Wins Three Year Multi-Million Dollar Video Surveillance Project for Major Regional Fuel Service and Convenience Store Chain
CARROLLTON, Texas, March 25 /PRNewswire-FirstCall/ -- GVI Security Solutions, Inc., (BULLETIN BOARD: GVSS) , a leading provider of video security surveillance solutions featuring the complete Samsung Electronics line of products will provide Samsung Electronics DVRs to a major regional fuel service and convenience store chain with over 1200 locations. Revenue from the first year of this three year project is expected to total over $1 million during 2009.
"We continue to win new business in the large, multi location retail chain market due to both the quality of our products, and the industry leading service and support that we provide," said Joseph Restivo, GVI Chief Operating Officer/CFO. "At a time when many competitors are cutting back on support, we are reaffirming our commitment to set the standards for the finest customer service and support in the industry.
About GVI Security Solutions, Inc.
GVI Security Solutions, Inc. (BULLETIN BOARD: GVSS) is a leading provider of video surveillance and security solutions, with sales and service representation throughout North, Central and South America. The company provides Samsung Electronics and GVI branded products, software and services to the Homeland Security and Commercial markets. Their customers include governments, major retail chains, leading financial institutions and public and private school systems.
Forward-Looking Statements:
Some of the statements made by GVI Security Solutions, Inc. in this press release are forward looking in nature. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may differ materially from those expressed or implied by the statements herein. GVI Security Solutions, Inc. believes that its primary risk factors include, but are not limited to: reliance on primary supplier; concentration of customers; credit limits imposed by primary supplier; effective integration of recently acquired operations and personnel; expansion risks; effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; rapid change in technology; the number and size of competitors in its markets; outstanding indebtedness; control of the Company by principal stockholders; law and regulatory policy; the mix of products and services offered in the company's target markets; and other factors detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2008 currently on file, as well as the risk that projected business opportunities will fail to materialize or will be delayed.
Investor Contact:
Leon Hamerling
Investor Media Group
877-725-2500
lh@investormediagroup.com
Company Contact:
Esra Pope
GVI Security Solutions
972-245-7353
GVI Security Solutions, Inc.
CONTACT: Investors: Leon Hamerling, Investor Media Group, +1-877-725-2500, lh@investormediagroup.com; Esra Pope, GVI Security Solutions, +1-972-245-7353
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