Companies news of 2009-04-30 (page 1)
Intrusion Inc. Books $1,200,000 of TraceCop(TM) Orders
Actions Semiconductor Commences Shipments of Two New Product Series
comScore Reports First Quarter 2009 ResultsFirst quarter revenue of $30.6 million...
MICROS Reports Profitable Fiscal 2009 Third Quarter Results; Net Income Exceeds...
Citysearch Introduces SugarBomber for the Sweet Tooth ObsessedIndulge In Your...
RDM announces TSYS Class B Certification for the RDM SYNERGY II All-In-One Payment...
Peerless Systems Announces Fiscal 2009 Fourth Quarter and Full-Year ResultsSelected...
BIO-key(R) Announces First Quarter Earnings Release and Conference Call Schedule
New IBM Appliance Delivers Enterprise Cloud ServicesFirst of its Kind Hardware Plus New...
Think Services' HDI Announces 2009 Team Excellence Awards WinnersPerot Systems and TECO...
General Dynamics Completes Critical Design Review for U.S. Navy's Common Display System...
Eltek Announces Filing of Annual Report
Verizon Internet Security Suite Adds Wi-Fi Security, Advance Protection for Broadband...
Integrated Device Technology, Inc. and Tundra Semiconductor Corporation sign definitive...
Dr. Robert W. Bower Joins the EPIR / Sunovia Team as Senior Director of Product...
Shamir Optical Industry Ltd. Appoints Amos Netzer as New Chief Executive Officer
Call of Duty(R): World at War Map Pack 2 Preparing for Deployment
Numerex Schedules First Quarter 2009 Financial Results Conference Call
Aero Dynamix and Longhorn Helicopters Sign Exclusive Training Agreement
Cal State Fullerton University and The College of New Jersey Join i2 Collegiate Partner...
Paragon Technologies Voluntarily Delists and Deregisters Stock
Harris Corporation obtient un contrat de 20 millions USD pour ses radios tactiques Falcon...
Atkins and IBM Sign 14.4 Million Pounds Sterling Data Storage Transformation Agreement
Plex Systems, Inc. Announces Availability of 'Measuring the ROI of ERP'...
Media Sciences Announces Third Quarter FY2009 Earnings Conference Call
Looking Forward: The Use of Health IT in CrisisA Podcast from Perot Systems on the Role of...
Latest Insights and Security Solutions at the IFSEC Conference 2009
Canadian Pacific and IBM Sign a Five-Year Services Agreement
Demand Management, Inc. Announces New Product: Demand Solutions Advanced Planning &...
Intrusion Inc. Books $1,200,000 of TraceCop(TM) Orders
RICHARDSON, Texas, April 30 /PRNewswire-FirstCall/ -- Intrusion Inc. (OTC Bulletin Board: INTZ) announced today it received four orders totaling $1,200,000 from a U.S. Defense Contractor for TraceCop projects. These orders are expected to produce revenue over the second and third quarters of 2009. TraceCop is Intrusion's product family that provides abilities to trace the source of cyber based attacks and other types of network crime.
About Intrusion Inc.
Intrusion Inc. is a global provider of entity identification systems, regulated information compliance, data leak prevention, and data privacy protection and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for entity identification, the Compliance Commander(TM) for regulated information compliance, data leak prevention and data privacy protection, and Intrusion SecureNet for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com/.
This release, other than historical information, may include forward-looking statements regarding future events or the future financial performance of the Company. Such statements include, without limitations, statements regarding future revenue growth and profitability, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the difficulties in forecasting future sales caused by current economic and market conditions, the effect of military actions on government and corporate spending on information security products, spending patterns of, and appropriations to, U.S. government departments, the impact of our cost reduction programs and our refocused product line, the difficulties and uncertainties in successfully developing and introducing new products in emerging markets, market acceptance of our products, the impact of our sustained losses on our ability to successfully operate and grow our business, our stock price, our ability to generate sufficient cash flow or obtain additional financing on acceptable terms in order to fund ongoing liquidity needs, the highly competitive market for our products, the effects of sales and implementation cycles for our products on our quarterly results, difficulties in accurately estimating market growth, the consolidation of the information security industry, the impact of changing economic conditions, business conditions in the information security industry, our ability to manage acquisitions effectively, the impact of market peers and their products as well as risks concerning future technology and others identified in our Annual Report on Form 10-K, as amended, and other Securities and Exchange Commission filings. These filings can be obtained by contacting Intrusion Investor Relations.
Contact:
Michael L. Paxton, VP, CFO
972.301.3658, mpaxton@intrusion.com
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Intrusion Inc.
CONTACT: Michael L. Paxton, VP, CFO of Intrusion Inc., +1-972-301-3658, mpaxton@intrusion.com
Web Site: http://www.intrusion.com/
Actions Semiconductor Commences Shipments of Two New Product Series
ZHUHAI, China, April 30 /PRNewswire-Asia-FirstCall/ -- Actions Semiconductor Co., Ltd. , one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today announced that two new product series will commence volume shipments in May 2009.
The Series 3 product line will be featured in audio media players and personal media player products with mono displays. Actions' Series 3 features a highly integrated design and pin-to-pin compatibility with the Series 11 product line while reducing material costs, R&D efforts for downstream customers and time to market. The Series 3 boasts significant improvements in power management, increasing power efficiency by over 30%, and features a new USB function and is compatible with SD/MMC/MS cards for enhanced transfer speeds.
Actions' new Automotive Series features a 48-pin cost effective design and is compatible with all of the three storage bases typical in the automotive segment: host, NAND flash and cards. This new product line will replace the automotive solutions of its ATJ2063 product family.
"We are very excited to further expand our product portfolio and offer these new product lines to our customers. Both the Series 3 and Automotive Series products are targeted at value oriented end markets, a sector of the consumer electronics market that has experienced significant growth, particularly in China and other emerging markets," stated Mr. Nan-Horng Yeh, CEO of Actions Semiconductor.
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing, Shanghai, and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause Actions Semiconductor's actual results to differ materially from our current expectations. Factors that could cause Actions Semiconductor's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms F-1, 20-F and 6-Ks. Actions Semiconductor undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.
Investor Contacts:
Lisa Laukkanen Jimmy Liu
The Blueshirt Group Investor Relations at Actions Semiconductor
lisa@blueshirtgroup.com jimmy@actions-semi.com
415-217-4967 +86-21-5080-3900*1211
Actions Semiconductor Co., Ltd.
CONTACT: Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967, lisa@blueshirtgroup.com, or Jimmy Liu, Actions Semiconductor Investor Relations, +86-21-5080-3900*1211, jimmy@actions-semi.com
Web Site: http://www.actions-semi.com/
comScore Reports First Quarter 2009 ResultsFirst quarter revenue of $30.6 million increased 16% from prior year
RESTON, Va., April 30 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today announced financial results for the first quarter of 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
Revenue in the first quarter was $30.6 million, up 16% from the first quarter of 2008, and subscription revenues increased by 23% over the same period. GAAP net income was $0.3 million, or $0.01 per diluted share in the first quarter of 2009, compared to $2.5 million or $0.08 per diluted share, a year ago. Net income in the first quarter was negatively impacted by a higher-than-anticipated non-cash effective tax rate due primarily to the tax treatment of compensation expense related to restricted stock awards that vested during the quarter. The company's cash tax rate was a 5.1% benefit for the first quarter. The Company continues to utilize net operating loss carry-forwards to reduce cash taxes. Non-GAAP net income was $4.2 million, or $0.14 per share, well above the previously announced guidance range of $2.6 to $3.1 million, while adjusted EBITDA was $5.4 million in the first quarter, also above the guidance range of $3.8 to $4.3 million.
Magid Abraham, comScore's President and Chief Executive Officer said, "We are pleased to report first quarter revenue at the upper end of our expected range, considering the overall economic environment. We had particular strength internationally, as we continue to penetrate newer markets, and domestically in selected industry verticals such as telecommunications, consumer packaged goods, and pharmaceuticals. Our contract renewal rate continued to exceed 90% on a dollar basis. As anticipated, we continue to experience higher levels of attrition among our smallest customers, but this was largely offset by continued strong renewal activity at medium and large customers, consistent with our experience in prior quarters. We also experienced lower-than-expected project revenue due to increased economic pressure on our customers' discretionary budgets. Operationally, we performed very well, and our profitability performance reflects our efforts to implement additional cost controls. We are also investing in new products and technologies expected to drive long-term growth, while at the same time driving efficiencies in our cost structure to achieve our margin goals for full year 2009."
First Quarter 2009 Financial and Business Summary
(dollars in millions, except per share data)
1Q09 1Q08 Change
Revenue $30.6 $26.4 16%
GAAP Net Income $0.3 $2.5 -89%
GAAP EPS $0.01 $0.08
Adjusted EBITDA* $5.4 $5.6 -3%
Adjusted EBITDA Margin* 18% 21%
Non-GAAP Net Income* $4.2 $5.3 -22%
Non-GAAP EPS* $0.14 $0.18
Operating Cash Flow $2.2 $10.3 -78%
Free Cash Flow* ($0.6) $6.7
Deferred Revenue $44.0 $42.8 3%
Subscription Revenue $26.5 $21.5 23%
Project Revenue $4.1 $4.9 -16%
Existing Customer Revenue $26.8 $22.1 21%
New Customer Revenue $3.8 $4.3 -12%
International Revenue $4.6 $3.4 35%
Customer Count 1,181 948
*A complete reconciliation of GAAP to non-GAAP results is set forth in
the attachment to this press release.
Reflected in GAAP net income for the first quarter of 2009 is an effective tax rate of 80.9% percent, including a cash tax benefit of 5.1%. The effective tax rate was negatively impacted by a write-off of deferred tax assets associated with restricted stock awards prompted by the decline in our stock price from the date of grant to the vesting date during the first quarter. Because of this, the tax-basis compensation expense recorded for these awards upon vesting was substantially less than the GAAP-basis expense, which created taxable income that was greater than GAAP income before income taxes and a correspondingly higher effective tax rate. The company continued to utilize net operating loss carry-forwards to reduce cash taxes and expects to continue to do so as permitted in future periods.
Financial Outlook
Magid Abraham, comScore's president and chief executive officer said, "We continue to anticipate that our healthy renewal rate, the addition of new customers, and international expansion will drive our top-line growth in 2009. However, due to the impact of macro-economic conditions on our customers, including lower than expected project revenues, we now anticipate revenue growth of 10% to 12% for the full year 2009. While the volatile economic environment makes it challenging to provide a long-term outlook, we have taken cost containment actions that we anticipate will result in approximately $9.8 million in annualized savings that should allow us to maintain our commitment to deliver an adjusted EBITDA margin in 2009 consistent with our 2008 performance, while we continue to invest in our strategic priorities and manage this company for the long term."
Abraham continued, "Our strong revenue and subscription growth in the economically challenging first quarter environment demonstrated the resiliency of the comScore business model. I am confident in our ability to leverage our competitive positions and our existing and forthcoming product suite to emerge as a stronger company with excellent revenue visibility and profitability."
comScore's expectations for the second quarter 2009 are outlined in the table below*:
(dollars in millions, except per share data)
Revenue $30.8 - $31.3 million
Income before income taxes $1.0 - $1.4 million
Adjusted EBITDA $5.5 - $6.1 million
Estimated diluted shares 30.8 million
*A complete reconciliation of GAAP to non-GAAP results is set forth in
the attachment to this press release.
Due to the high variability and difficulty in predicting certain items that affect net income, such as tax rates and stock price, comScore is unable to provide a complete reconciliation of Adjusted EBITDA to net income on a forward-looking basis without unreasonable efforts. However, a reconciliation of forward-looking Adjusted EBITDA to income before income taxes is set forth in the attachment to this press release.
Conference Call Information:
Management will provide commentary on the company's results in a conference call on Thursday, April 30, 2009 at 5:00 pm ET.
The conference call and replay can be accessed by telephone and webcast as follows:
Call-in Number: 888-713-4214, Pass code 15676895
(International) +1- 617-213-4866, Pass code 15676895
Replay Number: 888-286-8010, Pass code 77189543
(International) +1- 617-801-6888, Pass code 77189543
Webcast (live and replay): http://ir.comscore.com/events.cfm
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.
Non-GAAP Financial Measures
comScore reports all financial information required in accordance with generally accepted accounting principles (GAAP). comScore believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand comScore's performance, as it excludes non-cash and other special charges that many investors believe may obscure comScore's on-going operating results.
For example, comScore uses non-GAAP net income, which excludes stock-based compensation, the amortization of acquired intangible assets and the non-cash, deferred tax provision. comScore also reports non-GAAP EPS (diluted), which uses non-GAAP net income in lieu of GAAP net income in calculating earnings per share.
In addition, comScore believes that Adjusted EBITDA is a useful measure for investors to use to evaluate its operating performance. Adjusted EBITDA comprises non-GAAP net income further adjusted to exclude the cash tax provision, depreciation and interest income (expenses), net. A reconciliation of comScore's GAAP results to these non-GAAP measures is included in the financial tables accompanying this release.
The company believes that Adjusted EBITDA is an important indicator of the company's operational strength and the performance of its business because it provides a link between profitability and operating cash flow. Adjusted EBITDA is also widely used by investors and analysts as a supplemental measure to evaluate the overall operating performance of companies in comScore's industry. comScore's management also uses Adjusted EBITDA extensively as a measure of operating performance because it does not include the impact of items not directly resulting from our core operations. Moreover, the company's management uses the measure for planning purposes, to allocate resources and to evaluate the effectiveness of the company's business strategies and management's performance.
The company believes that excluding non-recurring costs from non-GAAP net income and EPS and from Adjusted EBITDA provides a meaningful indication to investors of the expected on-going operating performance of the company. Specifically as it relates to acquisitions, the exclusion of the non-recurring costs reflects the expected benefits realized or to be realized upon the integration of acquired entities into comScore.
comScore's management also uses free cash flow as a non-GAAP measure of the company's operating cash flow less cash expenditures for capital spending as a key indicator of the company's operating cash flow performance net of capital outlays.
Whenever comScore uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measure included in the financial tables accompanying this release. Although the company provides a reconciliation of historical non-GAAP financial measures, due to the high variability and difficulty in predicting certain items that affect net income, such as tax rates and stock price, comScore is unable to provide a complete reconciliation of Adjusted EBITDA to net income on a forward-looking basis without unreasonable efforts. However, a reconciliation of forward-looking Adjusted EBITDA to income before income taxes is set forth in the attachment to this press release.
Cautionary Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, comScore's expectations regarding the continued growth of its customer base; expectations regarding customer renewal rates, particularly with respect to different sizes and types of customers; expectations regarding penetrating new markets, particularly with respect to international expansion; expectations regarding its strength and success in industry verticals such as telecommunications, consumer packaged goods, and pharmaceuticals; expectations regarding the potential benefits of development and investment in new products and technologies and the resulting financial benefits; assumptions and expectations regarding effective tax rates and the use and availability of net operating loss carry-forwards; expectations regarding the outcome of cost containment measures and the resulting effect on comScore's margins and strategic priorities; expectations and forecasts of future financial performance, including related growth rates and components thereof; assumptions related to costs and revenue growth for the second quarter and the full year 2009; and assumptions related to the state of the economy and the global market environment. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: comScore's reliance on subscription-based revenues; comScore's ability to retain existing large customers and obtain new large customers; risks related to the domestic and global economies and the effects they may have on comScore, its industry or its customers; the early stage of the market for digital marketing intelligence and the rate of development of such market; comScore's ability to manage its growth; the rate of development of the Internet advertising and eCommerce markets; comScore's ability to effectively expand sales and marketing; continued growth of the Internet as a medium for commerce, content, advertising and communications; inability to sell additional products and attract new customer; limitations over comScore's control of certain variables in financial forecasts such as its stock price and the resulting effect on its tax rates; and the volatility of quarterly results and expectations.
For a detailed discussion of these and other risk factors, please refer to comScore's Annual Report on Form 10-K for the period ended December 31, 2008 and from time to time other filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's Web site (http://www.sec.gov/).
Stockholders of comScore are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. comScore does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
comScore, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
Three Months Ended
March 31,
----------
2009 2008
---- ----
(unaudited)
Revenues 30,624 26,370
------ ------
Cost of revenues (excludes amortization of
intangible assets resulting from acquisitions
shown below) (1) $10,036 $7,017
Selling and marketing (1) 10,486 8,945
Research and development (1) 4,005 3,070
General and administrative (1) 4,507 3,886
Amortization of intangible assets resulting
from acquisitions 320 7
--- ---
Total expenses from operations 29,354 22,925
------ ------
Income from operations 1,270 3,445
Interest income, net 175 819
Gain (loss) from foreign currency 12 (55)
--- ---
Income before income taxes 1,457 4,209
Income tax provision (1,180) (1,678)
------ ------
Net income $277 $2,531
==== ======
Net income available to common stockholders'
per common share:
Basic $0.01 $0.09
Diluted $0.01 $0.08
Weighted -average number of shares used in
per share calculation - common stock
Basic 29,477,369 28,200,934
Diluted 30,461,974 29,998,490
(1) Amortization of stock-based compensation
is included in the line items above as follows:
Cost of revenues $320 $141
Selling and marketing 1,113 421
Research and development 238 114
General and administrative 629 467
comScore, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
March 31, December 31,
2009 2008
---- ----
(unaudited)
Assets
Current assets:
Cash and cash equivalents $25,026 $34,297
Short-term investments 45,039 37,164
Accounts receivable, net of allowances
of $647 and $479, respectively 31,943 29,947
Prepaid expenses and other current assets 2,171 1,871
Deferred tax asset 10,717 13,304
------ ------
Total current assets 114,896 116,583
Long-term investments 2,861 3,497
Property and equipment, net 18,354 17,697
Other non-current assets 130 131
Long-term deferred tax asset 15,090 13,736
Intangible assets, net 8,446 8,805
Goodwill 39,171 39,114
------ ------
Total assets $198,948 $199,563
======== ========
Liabilities and stockholders' equity
Current Liabilities:
Accounts payable $1,389 $1,755
Accrued expenses 6,707 9,432
Deferred revenues 43,935 42,779
Deferred rent 1,204 1,049
Capital lease obligations 740 977
--- ---
Total current liabilities 53,975 55,992
Long-term deferred rent 8,787 8,691
Long-term deferred revenue 20 -
--- ---
Total liabilities 62,782 64,683
Stockholders' equity:
Common stock 30 29
Treasury stock (2,341) (1,265)
Additional paid-in capital 194,878 192,612
Accumulated other comprehensive loss (1,024) (842)
Accumulated deficit (55,377) (55,654)
------- -------
Total stockholders' equity 136,166 134,880
------- -------
Total liabilities and stockholders' equity $198,948 $199,563
======== ========
comScore, Inc.
Consolidated Statements of Cash Flows
(in thousands)
Three Months Ended
March 31,
----------
2009 2008
---- ----
(unaudited)
Operating Activities:
Net income $277 $2,531
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation 1,511 1,035
Amortization of intangible assets resulting
from acquisitions 320 7
Provisions for bad debts 271 65
Stock-based compensation 2,300 1,143
Amortization of deferred rent (99) (25)
Deferred tax provision 1,253 1,613
Loss on asset disposal 16 -
Changes in operating assets and liabilities:
Accounts receivable (2,423) (1,467)
Prepaid expenses and other current assets (307) (326)
Other non-current assets - 2
Accounts payable, accrued expenses, and
other liabilities (2,544) (648)
Deferred revenues 1,299 3,864
Deferred rent 350 2,541
--- -----
Net cash provided by operating activities 2,224 10,335
Investing activities
Recovery of restricted cash - 1,385
Purchase of investments (20,587) (51,793)
Sales and maturities of investments 13,262 30,450
Purchase of property and equipment (2,854) (3,682)
------ ------
Net cash used in investing activities (10,179) (23,640)
Financing activities
Proceeds from the exercise of common stock
options and warrants 123 369
Repurchase of common stock (1,076) (965)
Principal payments on capital lease obligations (237) (218)
---- ----
Net cash used in financing activities (1,190) (814)
Effect of exchange rate changes on cash (126) (110)
---- ----
Net decrease in cash and cash equivalents (9,271) (14,229)
Cash and cash equivalents at beginning of period 34,297 68,368
------ ------
Cash and cash equivalents at end of period $25,026 $54,139
======= =======
Reconciliation from Income before income taxes to Non-GAAP Net
Income and Adjusted EBITDA (in thousands)
Three Months Ended
March 31,
----------
2009 2008
---- ----
(unaudited)
Income before income taxes $1,457 $4,209
Deferred tax provision (1,253) (1,613)
Current cash tax provision 73 (65)
--- ---
Net income 277 2,531
Amortization of acquired intangibles 320 7
Stock-based compensation 2,300 1,143
Deferred tax provision 1,253 1,613
----- -----
Non-GAAP net income 4,150 5,294
Current cash tax provision (73) 65
Depreciation 1,511 1,035
Interest (income) expense, net (175) (819)
---- ----
Adjusted EBITDA 5,413 5,575
Adjusted EBITDA margin (%) 18% 21%
EPS (diluted) $0.01 $0.08
Non-GAAP EPS (diluted) $0.14 $0.18
Reconciliation from GAAP Operating Cash Flow to Free Cash Flow (in
thousands)
Three Months Ended
March 31,
----------
2009 2008
---- ----
(unaudited)
Net cash provided by operating activities $2,224 * $10,335 **
Purchase of property and equipment (2,854)* (3,682) **
------ ------
Free cash flow $(630) $6,653
===== ======
* Includes approximately $350,000 in leasehold improvements due to tenant
allowances
** Includes approximately $2.5 million in leasehold improvements due to
tenant allowances
Reconciliation from Income before income taxes to Adjusted EBITDA
(Guidance) (in thousands)
Forecasted amounts for the three months ended June 30, 2009 are based
on the mid-points of the range of guidance provided herein.
June 30, 2008 reflects reported results.
Three Months Ended
June 30,
--------
2009 2008
---- ----
(unaudited)
Revenues $31,050 $28,750
======= =======
Income before income taxes $1,300 $3,193
Amortization of acquired intangibles 324 122
Stock-based compensation 2,600 1,590
Impairment of marketable securities - 386
Non-recurring costs from acquisition - 458
Depreciation 1,742 1,208
Interest (income) expense, net (166) (492)
---- ----
Adjusted EBITDA $5,800 $6,465
====== ======
Adjusted EBITDA margin (%) 19% 22%
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comScore, Inc.
CONTACT: Kenneth Tarpey, Chief Financial Officer of comScore, Inc., +1-703-438-2305, ktarpey@comscore.com
Web Site: http://www.comscore.com/
MICROS Reports Profitable Fiscal 2009 Third Quarter Results; Net Income Exceeds Expectations
COLUMBIA, Md., April 30 /PRNewswire-FirstCall/ -- MICROS Systems, Inc. , a leading supplier of information systems to the hospitality and retail industries, today announced the results for its fiscal 2009 third quarter ended March 31, 2009.
FINANCIAL HIGHLIGHTS
-- Revenue was $205.7 million and $687.7 million, for the third fiscal
quarter and nine-month period, respectively.
-- GAAP net income for the quarter was $23.4 million. GAAP net income for
the nine-month period was $75.3 million.
-- GAAP diluted EPS for the quarter was $0.29. GAAP diluted EPS for the
nine-month period was $0.92.
-- Non-GAAP financial results, excluding the effect of Financial
Accounting Standard (FAS) No. 123 (R), which requires us to record the
share-based payment charge, are as follows:
-- Non-GAAP net income for the quarter was $25.7 million. Non-GAAP
net income for the nine-month period was $83.7 million.
-- Non-GAAP diluted EPS for the quarter was $0.32. Non-GAAP diluted
EPS for the nine-month period was $1.02.
Tom Giannopoulos, MICROS's Chairman and CEO, stated: "We continue to be highly profitable with a strong cash position, no debt, and increased market share. While business conditions remain challenging, we continue to perform well and have taken steps to position the company for long term revenue growth and increased profitability."
MICROS's stock is traded through NASDAQ under the symbol MCRS. Some of the statements contained herein not based on historic facts are forward-looking statements that involve risks and uncertainties. MICROS is subject to, among others, the following uncertainties and risks: product demand and market acceptance; impact of competitive products and pricing on margins; product development delays and technological difficulties; controlling expenses as MICROS continues to expand; the ability to obtain on acceptable terms the right to incorporate in MICROS's products and services technology patented by others; the risk that there are actual or perceived security vulnerabilities in MICROS's products; adverse results in legal disputes resulting in liabilities that exceed reserves; unanticipated tax liabilities; the effects of terrorist activity and armed conflict; the effects of major environmental disasters, such as hurricanes and tsunamis; weakening in general economic conditions that adversely affect demand for computer hardware or software; and currency fluctuations.
All information in this release is as of April 30, 2009. MICROS undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in MICROS's expectations.
For further information regarding risks and uncertainties associated with MICROS's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business and Investment Risks" sections of MICROS's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting MICROS's investor relations department at 443-285-8059 or at MICROS's website at http://www.micros.com/.
MICROS SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited - in thousands, except per share amounts)
Third quarter ended Nine months ended
March 31, March 31,
--------- ---------
2009 2008 2009 2008
---- ---- ---- ----
Revenue:
Hardware $42,757 $65,289 $162,596 $197,384
Software 28,322 37,910 104,094 113,278
Service 134,587 133,988 420,980 386,958
------- ------- ------- -------
Total revenue 205,666 237,187 687,670 697,620
------- ------- ------- -------
Cost of sales:
Hardware 26,284 42,882 104,099 127,105
Software 6,565 7,648 20,963 25,671
Service 61,767 62,398 199,090 180,783
------ ------ ------- -------
Total cost of sales 94,616 112,928 324,152 333,559
------ ------- ------- -------
Gross margin 111,050 124,259 363,518 364,061
Selling, general and
administrative expenses 61,396 72,465 203,181 213,948
Research and development expenses 10,027 10,139 30,701 28,675
Depreciation and amortization 4,189 3,280 12,567 10,755
Stock option expense (*) 3,186 3,616 11,018 13,444
----- ----- ------ ------
Total operating expenses 78,798 89,500 257,467 266,822
------ ------ ------- -------
Income from operations 32,252 34,759 106,051 97,239
Non-operating income, net 1,268 3,329 7,224 10,504
----- ----- ----- ------
Income before taxes, minority
interests, and equity in net
earnings of affiliates 33,520 38,088 113,275 107,743
Income tax provision 9,888 12,378 37,005 35,862
----- ------ ------ ------
Income before minority interests
and equity in net earnings of
affiliates 23,632 25,710 76,270 71,881
Minority interests and equity in
net earnings of affiliates (279) (564) (962) (1,342)
---- ---- ---- ------
Net income (GAAP) $23,353 $25,146 $75,308 $70,539
======= ======= ======= =======
Net income per common
share - diluted $0.29 $0.30 $0.92 $0.84
===== ===== ===== =====
Weighted-average number of shares
outstanding - diluted 81,047 83,174 81,449 83,532
====== ====== ====== ======
Reconciliation of GAAP Net Income and EPS, and Net Income and EPS
before share-based payment charge, i.e. stock option expense
-----------------------------------------------------------------
Net income $23,353 $25,146 $75,308 $70,539
Add back: Stock option expense (*)
Selling, general and
administrative expenses 2,953 3,373 10,364 12,645
Research and development
expenses 233 243 654 799
--- --- --- ---
Total stock option expense 3,186 3,616 11,018 13,444
Subtract: Total tax effect on
stock option expense 825 801 2,644 3,315
--- --- ----- -----
Net income (before share-based
payment charge) $25,714 $27,961 $83,682 $80,668
======= ======= ======= =======
Net income per diluted common
share, before share-based payment
charge (Non-GAAP) $0.32 $0.34 $1.02 $0.97
===== ===== ===== =====
We believe the inclusion of the above non-GAAP measure, excluding the
effect of share-based payment charge, will be useful to investors because
it will enhance the comparability of our results in recent periods to
results in periods prior to our adoption of FAS 123(R). We also believe
inclusion of this measure will enhance comparability of our results to
results of our competitors and to the analysts' forecasts because the
analysts continue to forecast excluding the effect of share-based payment
charge, the non-GAAP measure. In addition, our management uses this
measure to evaluate our operating performance and compare our results to
our competitors. Management also uses this measure as a metric to
measure performance under our executive compensation program.
The Company notes that non-GAAP financial measures are not based on a
comprehensive set of accounting rules or principles. Instead, they are
based on subjective determinations by management designed to supplement
our GAAP financial measures. They are subject to a number of important
limitations and should be considered only in conjunction with our
consolidated financial statements prepared in accordance with GAAP.
Among the limitations on the use of the non-GAAP measure are the
following:
- The exclusion of non-cash share-based payment charges can have a
significant impact on reported GAAP net income and diluted net income
per share.
- Other companies may utilize non-cash share-based payments to a
significantly greater or lesser degree in relation to overall
compensation than MICROS.
- Other companies may calculate non-GAAP net income and non-GAAP net
income per share differently than MICROS does, limiting the usefulness
of those measures for comparative purposes.
MICROS SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited - in thousands)
Mar. 31, June 30,
2009 2008
-------- --------
ASSETS
Current assets:
Cash and cash equivalents $383,272 $381,964
Accounts receivable, net 173,259 192,445
Inventory, net 41,764 64,575
Deferred income taxes 19,734 18,724
Prepaid expenses and other current assets 29,799 29,737
------ ------
Total current assets 647,828 687,445
Investments, non-current 56,625 65,216
Property, plant and equipment, net 30,541 29,165
Deferred income taxes, non-current 8,583 7,108
Goodwill 186,360 159,722
Intangible assets, net 18,899 16,168
Purchased and internally developed software
costs, net 27,490 30,846
Other assets 6,742 7,336
----- -----
Total assets $983,068 $1,003,006
======== ==========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Bank lines of credit $1,061 $989
Accounts payable 33,520 46,843
Accrued expenses and other current
liabilities 106,677 124,913
Income taxes payable 9,911 6,363
Deferred revenue 125,119 115,398
------- -------
Total current liabilities 276,288 294,506
Income taxes payable, non-current 16,339 18,302
Deferred income taxes, non-current 2,002 2,181
Other non-current liabilities 8,425 8,103
----- -----
Total liabilities 303,054 323,092
Minority interests and minority ownership put
arrangement 6,761 6,898
Commitments and contingencies
Shareholders' equity:
Common stock 502 506
Capital in excess of par 128,594 131,517
Retained earnings 555,546 480,777
Accumulated other comprehensive income (11,389) 60,216
------- ------
Total shareholders' equity 673,253 673,016
------- -------
Total liabilities and shareholders' equity $983,068 $1,003,006
======== ==========
MICROS Systems, Inc.
CONTACT: Peter J. Rogers, Jr., Executive Vice President, Investor Relations of MICROS Systems, Inc., +1-443-285-8059, progers@micros.com
Web Site: http://www.micros.com/
Citysearch Introduces SugarBomber for the Sweet Tooth ObsessedIndulge In Your Neighborhood's Best Sweets
WEST HOLLYWOOD, Calif., April 30 /PRNewswire/ -- Citysearch, a leading online local guide and an operating business of IAC , today introduces SugarBomber, a new lookbook blog dedicated to consumers who are obsessed with exploring the country's best and most unique sweets, like foie gras cupcake, mango cayenne ice cream, chocolate covered bacon and more.
(Photo: http://www.newscom.com/cgi-bin/prnh/20090430/LA08944)
(Logo: http://www.newscom.com/cgi-bin/prnh/20081119/LAW061ALOGO-b)
"SugarBomber is a virtual playground where food lovers can unite and share their love for all things sweet," said Robert Moritz, VP of Content, Citysearch. "Users can find the tastiest desserts to eat in their city and an incredible array of delights nationwide."
The site features photos submitted by users of their favorite cavity-inducing delights: red velvet cupcakes, Krispy Kreme milkshakes, red wine truffles and more. Photos are then reviewed by the "SugarBomber Dictators," Citysearch editors and foodie bloggers who provide commentary on their top picks. Users can search by type of sweet, neighborhood and share the sugar rush with their networks by voting for their favorite.
SugarBomber is the newest blog launch in a series from Citysearch of consumer trend lookbooks. The first blog, MopShots, debuted in February highlighting the best hair salons and styles from across the country. LuckyToes, all about shoes, launched in March and was most recently followed by 3BuckBites, featuring the best gourmet cheap dishes in US neighborhoods.
Visit SugarBomber.com by Citysearch now!
You can also find us on Twitter and Facebook.
About SugarBomber
SugarBomber.com is the newest go-to-guide and lookbook from Citysearch for admirers of all things sugary. SugarBomber.com is all about decadent sweet treats. Whether it's a foie gras cupcake or red wine truffle, fellow sweet teeth unite for one common goal: scour local neighborhood restaurants and bakeries across the country to find, photograph and share details on great cavity-inducing delights. Users can search for decadent sweets by type, price range and city. For more information, visit: http://www.sugarbomber.com/.
About Citysearch
Citysearch is the essential online local guide for living bigger, better and smarter in your city and neighborhood. Combining in-the-know editorial recommendations, candid user comments, and expert advice from local businesses, Citysearch offers a balanced perspective to keep people connected to the most popular and undiscovered places in over 75,000 destinations worldwide. Citysearch is an operating business of IAC . For more information, visit: http://www.citysearch.com/.
Press Contact:
Nicole Myden
NMPR
(310) 502.9921
nicolemydenpr@yahoo.com
Photo: http://www.newscom.com/cgi-bin/prnh/20081119/LAW061ALOGO-b http://www.newscom.com/cgi-bin/prnh/20090430/LA08944 http://photoarchive.ap.org/ AP PhotoExpress Network: PRN19 PRN Photo Desk, photodesk@prnewswire.com
Citysearch
CONTACT: Nicole Myden of NMPR, +1-310-502-9921, nicolemydenpr@yahoo.com, for Citysearch
Web Site: http://www.citysearch.com/
RDM announces TSYS Class B Certification for the RDM SYNERGY II All-In-One Payment TerminalCertification enhances opportunities for merchants looking for a cost effective PA-DSS validated All-In-One payment terminalToronto Stock Exchange Symbol: RC
WATERLOO, ON, April 30 /PRNewswire-FirstCall/ -- RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing and Remote Deposit Capture (RDC) solutions, announced today that it has completed and received TSYS(R) Class B certification for its RDM SYNERGY II All-In-One Payment Terminal. RDM SYNERGY II is now certified to process Visa, MasterCard, and Discover transactions in the E-Commerce, Direct Marketing w/Level II, Retail, Restaurant, EBT and Debit industries with TSYS Acquiring Solutions, a wholly owned subsidiary of TSYS.
"Expansion of our certifications and accessibility to platforms with industry leaders like TSYS provides our customers with even greater opportunities. Incredible value can now be leveraged by merchants that work with TSYS and are looking for a cost effective and reliable All-in-One PA-DSS validated POS terminal," said Douglas Newman, President & CEO, RDM Corporation.
RDM SYNERGY II is a versatile, feature-rich, All-In-One POS payment terminal. Utilizing RDM's industry leading and patented proprietary Progressive MICR Method and dual sided imaging technology, RDM SYNERGY II is ideal for Electronic Check Conversion (ECC), Check 21 transactions, as well as credit, debit, EBT and loyalty cards. Standard features on RDM SYNERGY II include a magnetic stripe reader, graphic display, 20-key pad, franking acknowledgement, multiple application support, thermal printer, Ethernet and modem communication options and a powerful processor, making RDM SYNERGY II a perfect payment platform for POP, ARC, Check 21, and bill payment applications. Built upon RDM's extensive experience in the payment automation industry combined with field proven imaging technology, RDM SYNERGY II is designed to meet the changing needs of the POS environment.
About TSYS
TSYS is one of the world's largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information, log on to http://www.tsysacquiring.com/.
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing and. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM's website at http://www.rdmcorp.com/.
RDM Corporation
CONTACT: Douglas Newman, President and CEO, RDM Corporation, (519) 746-8483 x340 Phone, (519) 746-3317 fax, dnewman@rdmcorp.com; James Merwin, CFO, RDM Corporation, (519) 746-8483 x284 Phone, (519) 746-3317 fax, jmerwin@rdmcorp.com
Peerless Systems Announces Fiscal 2009 Fourth Quarter and Full-Year ResultsSelected Highlights:- Fourth quarter operating income was $0.4 million before $1.4 million restructuring expense- Operating expenses significantly reduced as a result of staffing and facilities reductions
EL SEGUNDO, Calif., April 30 /PRNewswire-FirstCall/ -- Peerless Systems Corporation , a licensor of imaging and networking technologies to the digital document market, today reported financial results for its fourth quarter and fiscal year ended January 31, 2009.
Fourth Quarter Results
Fourth quarter revenues were $2.2 million, versus $9.3 million in the fourth quarter last year and $1.6 million in the third quarter of fiscal 2009. Product licensing revenue was $2.0 million, versus $6.4 million in the fourth quarter a year ago and $1.3 million in the third quarter of fiscal 2009. Engineering services and maintenance revenue was $0.2 million, versus $2.9 million in the fourth quarter a year ago and $0.3 million in the third quarter of fiscal 2009. The fourth quarter of fiscal 2008 included $5.0 million of license revenue and $2.2 million of services revenue from Kyocera Mita Corporation ("KMC"). Effective April 30, 2008 (the end of the Company's first quarter of fiscal 2009), the Company sold certain assets and transferred 38 engineers and support staff to KMC. The first quarter of fiscal 2009 included $1.9 million of services revenue from KMC.
Peerless reported a fourth quarter fiscal 2009 net income of $3.9 million, or $0.23 per basic and diluted share, which includes a $4.7 million reduction in estimated income taxes associated with the sale of assets to KMC. Fiscal Year 2008 fourth quarter net income of $8.5 million or $0.49 per basic share and $0.47 per diluted share, included a $5 million income tax benefit resulting from the reduction of the deferred tax asset valuation allowance attributable to the gain realized in the KMC transaction during the first quarter of fiscal year 2009. The Company reported a loss of $1.2 million or $0.06 per basic share for the third quarter of the 2009 fiscal year.
Peerless had cash and cash equivalents of $44.7 million as of the fiscal year ended January 31, 2009, compared with $48.9 million at the end of the previous quarter and $23.1 million at the end of fiscal 2008. The decline in cash and cash equivalents from the last quarter was primarily due to the payment of $2.7 million for lease terminations, $2.0 million in taxes on the gain associated with the KMC transaction recorded in the first quarter and $0.8 million for the share repurchase program implemented at the end of the second fiscal quarter, offset by other smaller changes in working capital. From inception through the end of the fourth quarter, the Company had purchased 1,462,898 shares of common stock for $2,692,058, or an average price of $1.84 per share, under its stock repurchase plan.
Fiscal 2009 full-year results
For the full fiscal year, Peerless reported net income of $17.6 million, or $0.99 per basic share and $0.97 per diluted share, on total revenue of $10.4 million. Peerless realized a gain of $32.9 million on the sale of assets to KMC at the end of the first quarter of the 2009 fiscal year. Fiscal 2008 net income was $10.1 million, or $0.59 per basic share and $0.56 per diluted share, which included a $5 million income tax benefit. Gross margin decreased from 65.2% in fiscal 2008 to 30.3% in fiscal 2009. The primary reason for the decrease was a $2.4 million increase in product licensing expense in fiscal 2009 due to the KMC transaction and the resulting change in mix of technologies available to be delivered against existing block licenses with KMC.
Over the course of fiscal year 2009, operating expenses, excluding restructuring expense of $3.3 million, were reduced 27.8% compared to fiscal 2008, primarily as a result of the KMC transaction. Fiscal year 2009 was affected by the significant professional fees related to the KMC transaction and subsequent restructuring charges. After the transaction, the company reduced its staffing levels by 74%. Additionally, facilities costs were reduced by approximately 95% due to the termination of certain leases at the end of fiscal year 2009.
William Neil, Chief Financial Officer and Acting Chief Executive Officer, said, "During the fourth quarter, we made strides in restructuring our existing business. We have sufficient staffing and leased space to service our existing customer base. We continue to look for additional ways to reduce our operating expenses while meeting the requirements of our customers and the obligations of a public company."
Subsequent Event
During the quarter ended April 30, 2009 the Company entered into an agreement amending a third party technology license agreement. This agreement reduces the liability for technologies licensed by the Company to a customer. As a result of this amendment entered into subsequent to January 31, 2009, the Company reduced the liability for third party licensing costs by approximately $2.7 million in the quarter ended April 30, 2009.
Annual Meeting of Stockholders
Peerless also announced today that it will hold its annual meeting of stockholders to elect five directors and approve its independent auditors on Friday, June 5, 2009, at 9:00 a.m. Pacific Time. The meeting will be held at 2361 Rosecrans Avenue, Suite 450, El Segundo, California, 90245. Stockholders of record as of the close of business on April 24, 2009 are entitled to vote at the meeting. Additional information, including details of the business to be conducted at the annual meeting, will be included in the proxy statement to be filed by the Company with the Securities and Exchange Commission. The proxy statement and the company's 2009 Annual Report to Stockholders are expected to be mailed to such stockholders of record on or about May 7, 2009.
About Peerless Systems Corporation
Founded in 1982, Peerless Systems Corporation historically licensed imaging and networking technologies to the digital document markets, which include manufacturers of color, monochrome and multifunction office products and digital appliances. Effective April 30, 2008, Peerless sold its imaging and networking technologies and certain other assets to KMC. Peerless retains the rights to continue licensing these technologies to customers in the digital document markets. Peerless intends to use its cash on hand to explore investment opportunities that it believes will enhance stockholder value.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995
Some statements included in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore, involve uncertainties or risks that could cause actual results to differ materially there from. These statements may contain words such as "desires," "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, the Company's ability to find one or more suitable investment opportunities and to successfully complete any such investment, the Company's current licensing business and the effects of the Company's downsizing. Additional information regarding factors that could cause results to differ materially from management's expectations is found in the section entitled "Risk Factors" in the Company's 2009 Annual Report on Form 10-K. The Company intends that the forward-looking statements included herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements. The Company disclaims any obligation to update forward-looking statements.
- Financial tables follow -
PEERLESS SYSTEMS CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
Three Months Ended
January 31,
2009 2008
Revenues:
Product licensing $1,996 90.8% $6,387 68.5%
Engineering services and
maintenance 203 9.2% 2,939 31.5%
Total revenues 2,199 100.0% 9,326 100.0%
Cost of revenues:
Product licensing 708 32.2% 575 6.2%
Engineering services and
maintenance 124 5.6% 1,658 17.8%
Total cost of revenues 832 37.8% 2,233 23.9%
Gross margin 1,367 62.2% 7,093 76.1%
Operating expenses:
Research and development 0 0.0% 746 8.0%
Sales and marketing 286 13.0% 629 6.7%
General and administrative 658 29.9% 2,454 26.3%
Restructuring 1,379 62.8% - 0.0%
Total operating expenses 2,323 105.7% 3,829 41.1%
Income (loss) from operations (956) (43.5%) 3,264 35.0%
Interest income 228 10.4% 238 2.6%
Income (loss) before income taxes (728) (33.1%) 3,502 37.6%
Provision for income taxes (4,669) (11.5%) (4,982) (53.4%)
Net income $3,941 (20.8%) $8,484 91.0%
Basic earnings per share $0.23 $0.49
Diluted earnings per share $0.23 $0.47
Weighted average common
shares outstanding - basic 17,107 17,458
Weighted average common shares
outstanding - diluted 17,276 18,134
PEERLESS SYSTEMS CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
Twelve Months Ended
January 31,
2009 2008
Revenues:
Product licensing $7,144 68.7% $17,809 62.6%
Engineering services and
maintenance 3,262 31.3% 10,634 37.4%
Total revenues 10,406 100.0% 28,443 100.0%
Cost of revenues:
Product licensing 5,477 52.6% 3,339 11.7%
Engineering services and
maintenance 1,799 17.3% 6,554 23.0%
Total cost of revenues 7,276 69.9% 9,893 34.8%
Gross margin 3,130 30.3% 18,550 65.2%
Operating expenses:
Research and development 1,430 13.7% 4,394 15.5%
Sales and marketing 1,616 15.5% 2,539 8.9%
General and administrative 7,209 69.3% 7,272 25.6%
Gain on sale of operating
assets (32,912) (316.3%) - 0.0%
Restructuring 3,320 31.9% - 0.0%
Total operating expenses (19,337) (185.8%) 14.205 49.9%
Income from operations 22,467 215.9% 4,345 15.3%
Interest income 1,076 10.3% 833 2.9%
Income before income taxes 23,543 226.2% 5,178 18.2%
Provision for income taxes 5,924 56.9% (4,969) (17.5%)
Net income $17,619 169.3% $10,147 35.7%
Basic earnings per share $0.99 $0.59
Diluted earnings per share $0.97 $0.56
Weighted average common shares
outstanding - basic 17,719 17,321
Weighted average common shares
outstanding - diluted 18,072 18,154
Peerless Systems Corporation
CONTACT: William R. Neil, Chief Financial Officer and Acting Chief Executive Officer of Peerless Systems Corporation, +1-310-536-0908, ext. 3146
Web Site: http://www.peerless.com/
BIO-key(R) Announces First Quarter Earnings Release and Conference Call Schedule
WALL, N.J., April 30 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (BULLETIN BOARD: BKYI) today announced plans to release first quarter 2009 financial results on Wednesday, May 6, 2009 before the market opens. In conjunction with the release, BIO-key has scheduled a conference call, which will be broadcast live over the Internet on Wednesday, May 6, 2009 at 10:00 a.m. Eastern Time.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050509/BIOKEYLOGO)
What: BIO-key International, Inc. First Quarter 2009 Earnings
Conference Call
When: Wednesday, May 6, 2009 - 10:00 a.m. Eastern Time
Where: Live via phone by dialing 800-860-2442 and asking for the BIO-key
call at least 10 minutes prior to the start time. Or live over
the Internet by logging on to the web address below.
Where: http://www.bio-key.com/
A streaming audio replay of the webcast will be available shortly after the call on http://www.bio-key.com/ for a period of thirty days.
About BIO-key
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, and government and private sector customers. BIO-key's mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. BIO-key's high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 1,000 police departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for law enforcement. (http://www.bio-key.com/)
Contact:
Charles Yanak
BIO-key International, Inc.
+1-732-359-1113
bud.yanak@bio-key.com
Photo: http://www.newscom.com/cgi-bin/prnh/20050509/BIOKEYLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
BIO-key International, Inc.
CONTACT: Charles Yanak of BIO-key International, Inc., +1-732-359-1113, bud.yanak@bio-key.com
Web Site: http://www.bio-key.com/
New IBM Appliance Delivers Enterprise Cloud ServicesFirst of its Kind Hardware Plus New Software Speed Application Deployment
ARMONK, N.Y., April 30 /PRNewswire-FirstCall/ -- IBM today is announcing two new products that allow customers to seamlessly extend their investment in service-oriented architecture (SOA) into a cloud services environment. These new offerings enable clients to easily create application environments that can be deployed and managed in a "private cloud" and include:
-- IBM WebSphere CloudBurst Appliance -- a new hardware appliance that
provides access to software virtual images and patterns that can be
used as is or easily customized, and then securely deployed, managed
and maintained in a private cloud;
-- IBM WebSphere Application Server Hypervisor Edition -- a version of
IBM WebSphere Application Server software optimized to run in a
virtualized hardware server environments such as VMware, and comes
preloaded in WebSphere Cloudburst.
(Photo: http://www.newscom.com/cgi-bin/prnh/20090430/NY08950 )
(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )
With today's announcement, IBM is empowering clients to consolidate and manage existing resources to realize the economic and technological advantages of increasingly popular private clouds. A primary benefit to customers who already have a SOA foundation is that cloud computing enables them to now reuse and share applications.
The first hardware appliance of its kind, WebSphere CloudBurst stores and secures WebSphere Application Server Hypervisor Edition images and patterns to be dispensed into a cloud. WebSphere CloudBurst helps customers easily and quickly develop, test and deploy business applications, ending the use of manual, complex or time-intensive processes associated with creating application environments. Once finished, resources are automatically returned to the shared resource pool and logged for internal charge-back purposes. WebSphere CloudBurst also manages individual user and group access, giving IT managers the right kind of access controls with optimal efficiency rates.
"IBM's WebSphere CloudBurst combines SOA with cloud services that allow our customers to work smarter," said Jim Deters, President of Ascendant Technology. "Our customers are looking for ways to simplify their IT environments and leverage their existing assets. WebSphere CloudBurst will help them deploy and manage SOA in a cloud environment."
These new products incorporate more than 10 years of IBM software management best practices for cost-effective, rapid, and repeatable application deployment. They also fully integrate with development and service management tools from IBM Rational and Tivoli, giving clients the seamless end-to-end support they demand.
The new IBM Rational Automation Framework for WebSphere optimizes configuration and application deployment to customize WebSphere CloudBurst patterns, providing more than 400 field-proven, automated tasks for configuration and application deployment to WebSphere Application Server environments. Using Rational Automation Framework together with WebSphere CloudBurst can improve delivery efficiencies for development, test and production scenarios leading to faster time to market, higher-quality software and rapid return on investment.
In addition, CloudBurst integrates with Tivoli Service Automation Manager to support a more modern dynamic data center and reduces IT operational costs by automating the development and management processes for WebSphere cloud computing environments. Tivoli Service Automation Manager provides the capability to request, fulfill and manage complete software stacks for the data center and complements WebSphere CloudBurst with intelligent, pattern-based deployment and management of WebSphere within a cloud.
For many workloads, including application testing and development, cloud computing delivers compelling economic benefits for clients. IBM Technology Services is supporting this by extending the IBM Implementation Services for Cloud Computing, an on-premise test environment for cloud applications to include services for CloudBurst that allow customers to test applications in a secure environment before going into production.
These offerings come at a time when organizations are facing a complexity and affordability crisis, in which costs to manage and power operations are becoming more expensive than the hardware and software itself. To combat this, IBM has compiled the most complete portfolio of cloud computing software and services for enterprise clients in the industry today, building on its long history in security, virtualization, standards-based innovation and large-scale computing to help clients integrate this new compute model into their enterprises.
"The WebSphere CloudBurst Appliance combines the flexibility of SOA with the adaptability of the cloud," said Tom Rosamilia, general manager of WebSphere at IBM. "It's new capabilities for rapid deployment deliver a fast return on investment to our clients."
As part of its public cloud initiatives, IBM is also announcing BPM BlueWorks, a cloud-based set of strategy and business process tools. BPM BlueWorks provides business users with the collateral they need to implement business strategies within their organizations based on industry-proven business process management techniques.
IBM has a number of initiatives that allow customers to leverage IBM software in a cloud. IBM is working in collaboration with Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc. to make IBM software available in the Amazon Elastic Compute Cloud (Amazon EC2). WebSphere sMash, Informix Dynamic Server, DB2, and WebSphere Portal with Lotus Web Content Management Standard Edition are available today through a "pay as you go" model for both development and production instances. In addition to those products, IBM is also announcing the availability of IBM Mashup Center and Lotus Forms Turbo for development and test use in Amazon EC2, and intends to add WebSphere Application Server and WebSphere eXtreme Scale to these offerings.
With more than 7,000 customer implementations worldwide, IBM is the SOA market leader. This leadership is further illustrated by a thriving community of more than 120,000 architects and developers, 300 SOA-specific technology patents, 2,000 universities advancing the SOA curriculum, and 7,420 Business Partners building SOA skills, solutions and practices.
The WebSphere CloudBurst Appliance and WebSphere Application Server Hypervisor Edition are available in the second quarter of 2009. For information, please visit: http://www.ibm.com/cloudburst
For more information on how IBM is helping clients and business partners to make smarter, faster decisions by using SOA, visit: http://www.ibm.com/soa
IBM, WebSphere, SmartSOA and the IBM e-business logo are trademarks or registered trademarks of International Business Machines Corporation. For a list of additional IBM trademarks, please see http://www.ibm.com/legal/copytrade.shtml
All other company, product or service names may be trademarks or registered trademarks of others. Statements concerning IBM's future development plans and schedules are made for planning purposes only, and are subject to change or withdrawal without notice.
Contact:
Rebecca Mettler
IBM Media Relations
760-946-2760
703-867-7897 mobile
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IBM
CONTACT: Rebecca Mettler, IBM Media Relations, +1-760-946-2760, +1-703-867-7897 mobile
Web Site: http://www.ibm.com/
Think Services' HDI Announces 2009 Team Excellence Awards WinnersPerot Systems and TECO Energy Embody Customer and Employee-Centric Support Operations
COLORADO SPRINGS, Colo., April 30 /PRNewswire/ -- HDI(R) (http://www.thinkhdi.com/), the world's largest membership association for help desk and technical support professionals and the premier certification body for the industry, today announced the 2009 HDI Team Excellence Award winners: Perot Systems' End User Services Global Service Desk for external support and TECO Energy Service Desk for internal support. These awards were presented at the 2009 HDI World Conference on Technical Service and Support held recently in Las Vegas, NV.
These awards honor Perot Systems and TECO Energy for achieving the highest standards of excellence in service desk operations. The HDI Team Excellence Awards are the "gold medal" of the technical support profession. The selection of the HDI Team Excellence Award winners is based on specific criteria that evaluate the companies' ability to demonstrate excellence in three categories: people, process and technology.
HDI Team Excellence Award - External Support: Perot Systems
Perot Systems' End User Services Global Service Desk has 300 tier 1 agents across 5 locations: Plano, TX; Bowling Green, KY; Guadalajara, Mexico; Bucharest, Romania; and Noida, India. These centers seamlessly integrate Perot's off-shore and on-shore capabilities by load-balancing calls during peak volumes and routing calls to the most cost-effective service support associates.
HDI Team Excellence Award - Internal Support: TECO Energy
The TECO Energy Service Desk provides support to 5,000 internal customers located in 34 Florida offices, 5 offices in Kentucky and 2 power plants in Guatemala. The TECO Energy Service Desk has a total of 10 desktop support analysts that handle first-level support, along with an IT service quality analyst, one manager and one director.
Rich Hand, HDI Executive Director of Membership and conference host, commented on these achievements. "Both award recipients embody customer and employee-centric operations. Perot Systems' End User Services Global Service Desk has made true connections with their customers and it showed. The management team focused on motivating their team to make the service desk even stronger. The TECO Energy Service Desk exemplified the true nature of what teamwork and management support can produce. The TECO desk presented a very creative, caring culture that made the team feel empowered and involved. Congratulations to both organizations for mastering critical facets of this industry."
About Perot Systems
Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2008 revenue of $2.8 billion. The company has more than 23,000 associates located in the Americas, Europe, Middle East and Asia Pacific. Additional information on Perot Systems is available at http://www.perotsystems.com/.
About TECO Energy
TECO Energy, Inc. is an energy-related holding company. Its principal subsidiary, Tampa Electric Company, is a regulated utility in Florida with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which is engaged in electric power generation and distribution and energy-related businesses in Guatemala.
About HDI
HDI, a Think Services company, is the world's largest IT service and support membership association and the industry's premier certification and training body. Guided by an international panel of industry experts and practitioners, HDI is the leading resource for help desk/support center emerging trends and best practices. HDI provides members with a vast repository of resources, networking opportunities and the largest industry event - the HDI Annual Conference and Expo. Headquartered in Colorado Springs, Colo., USA, HDI offers training in multiple languages and countries. For more information, visit http://www.thinkhdi.com/ or call +1 719.268.0174.
About Think Services
Think Services connects specialized communities worldwide using educational events, consulting, training, certification, and innovative media. Providing comprehensive opportunities for people to learn from, network with, and inspire each other, Think Services builds strong brands and works within communities to foster a unique affinity with its products and services. The division's flagship products include the Game Developers Conference, the Webby Award-winning Gamasutra.com, Game Developer magazine, the International Customer Management Institute (ICMI), and HDI. Think Services is a subsidiary of United Business Media, a global media and marketing services company with a market capitalization of more than $1.6 billion. To learn more, visit http://www.think-services.com/.
HDI
CONTACT: Allison Wroe, HDI Executive Director of Marketing, +1-719-785-5355, awroe@thinkhdi.com
Web Site: http://www.thinkhdi.com/
General Dynamics Completes Critical Design Review for U.S. Navy's Common Display System Program
FAIRFAX, Va., April 30 /PRNewswire-FirstCall/ -- General Dynamics Advanced Information Systems successfully completed the U.S. Navy's Critical Design Review of its Common Display System (CDS) display consoles. The Common Display System is an open architecture display system designed to ensure interoperability and enable frequent technology updates. The display consoles will be deployed on the new DDG 1000 Zumwalt-class and as part of the Navy's fleet-wide Aegis modernization program. General Dynamics Advanced Information Systems is a business unit of General Dynamics .
"During this successful design review, General Dynamics presented a solid technical solution and execution schedule," said Capt. Pete Nardi, Program Execution Office, Integrated Warfare Systems (IWS6). "I congratulate the entire government and industry team on successfully completing this significant milestone for the CDS program."
The Common Display System product family consists of a series of display configurations based on standardized, interchangeable components. CDS meets the Navy's current and future need for open systems, increased security features and cost effectiveness. With an intended service life of 30 years, the systems meet open architecture and open business model requirements with minimized lifecycle costs.
"By applying our open architecture framework to the Common Display System, we are delivering to the Navy a low-risk, flexible design with proven multi-level security functions and the ability to rapidly insert new capabilities," said Mike Tweed-Kent, vice president and general manager of integrated combat systems for General Dynamics Advanced Information Systems. "With the completion of the Critical Design Review, we are on track to begin production this summer."
The next significant milestone for the program is the Test Readiness Review.
In November 2007, General Dynamics was awarded an indefinite-delivery/indefinite-quantity contract with the total potential value of $83 million for the development, qualification, production and support of the Common Display System display consoles. General Dynamics is providing program management, engineering, manufacturing, integrated logistics support, tests and evaluations.
General Dynamics Advanced Information Systems designs, develops, manufactures, integrates, operates and maintains mission systems for defense, space, intelligence, surveillance, reconnaissance, homeland security and homeland defense customers. Headquartered in Fairfax, Va., the company specializes in ground systems, imagery processing, mission payloads, space vehicles; maritime subsurface, surface and airborne mission systems; and tasking, collection, processing, exploitation, and dissemination programs for national intelligence. More information is available on the Internet at http://www.gd-ais.com/.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,300 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at http://www.gd.com/.
General Dynamics Advanced Information Systems
CONTACT: Lucy Ryan of General Dynamics Advanced Information Systems, +1-703-272-6010, or cell, +1-703-216-7595, Lucy.Ryan@gd-ais.com
Web Site: http://www.gd-ais.com/
Eltek Announces Filing of Annual Report
PETACH-TIKVA, Israel, April 30 /PRNewswire-FirstCall/ -- Eltek Ltd. , the leading Israeli manufacturer of advanced flex-rigid circuitry solutions, today announced it has filed its annual report on Form 20-F containing audited consolidated financial statements for the year ended December 31, 2008 with the U.S. Securities and Exchange Commission (http://www.sec.gov/). The annual report will shortly be available on the Company's website at http://www.eltekglobal.com/. Shareholders may receive a hard copy of the annual report free of charge upon request.
About the Company
Eltek is Israel's leading manufacturers of printed circuit boards, the core circuitry of most electronic devices. It specializes in the complex high-end of PCB manufacturing, i.e., HDI, multilayered and flex-rigid boards. Eltek's technologically advanced circuitry solutions are used in today's increasingly sophisticated and compact electronic products. For more information, visit Eltek's web site at http://www.eltekglobal.com/.
Eltek Ltd.
CONTACT: Amnon Shemer, Chief Financial Officer for Eltek Ltd., +972-3-9395050, amnons@eltek.co.il
Web Site: http://www.eltekglobal.com/
Verizon Internet Security Suite Adds Wi-Fi Security, Advance Protection for Broadband CustomersNew Capabilities Position Award-Winning Verizon Software as One of Most Comprehensive Internet Security Suites on the Market
NEW YORK, April 30 /PRNewswire/ -- Verizon Internet Security Suite (VISS) subscribers can now take advantage of enhanced security options for their home PCs with the addition of Wi-Fi Security and Advance Protection features to the popular online protection service.
The addition of the new capabilities -- at no additional charge -- to the award-winning VISS service reinforces its value as one of the most comprehensive Internet security services on the market today. The service is available to Verizon FiOS Internet and Verizon High Speed Internet customers, as well as other broadband users.
The new Wi-Fi Security feature helps protect subscribers from hackers, eavesdroppers and other security threats associated with unsecured wireless networks and hot spots. When connecting to a wireless network, the service displays an alert if a network is unencrypted and, by providing simple how-to instructions, encourages users to set up encryption. When subscribers use public hot spots, Wi-Fi security can automatically turn off network discovery and sharing for increased security.
The new Advance Protection feature defends users against malicious programs by monitoring a computer's behavior. The service boosts protection with continuous searches for malware and monitoring of suspicious activities on the computer. VISS then uses deep-cleaning capabilities to remove the harmful items.
"As computer threats constantly evolve and change, it's crucial that our broadband subscribers continually have the most up-to-date security software to ensure the maximum protection for their PCs," said Bill Heilig, vice president of Verizon Broadband Solutions. "Adding Wi-Fi Security and Advance Protection to VISS is part of our ongoing commitment to our subscribers to ensure they have the best and most secure home-computing experience possible."
New subscribers to VISS will receive the additional Wi-Fi Security and Advance Protection services immediately, while existing VISS subscribers will have the ability to automatically upgrade on May 7. They can also download the feature right away by going to http://www.verizon.net/myaccount and clicking on "Manage My Broadband Essentials & Extras" under the "Billing" category.
VISS, which was recognized earlier this month by Info Security Products Guide as one of the best products for Internet security worldwide, also offers as part of its security lineup:
-- Virus Protection: Automatically safeguards customers from viruses,
worms and Trojans. Simple to use, it offers automatic scans, updates
and quarantines resulting in fewer support calls and a more secure
network.
-- Spyware Protection: Detects and quarantines spyware before it attacks
a PC. The service is automatically configured, updated and maintained.
-- Fraud Protection: Combats identity theft attacks and fraudulent
campaigns conducted by e-mail, instant messaging (IM), blogs and Web
hijacking techniques.
-- Firewall: Blocks unauthorized intrusions, malicious hackers and other
hostile access attempts from both incoming and outgoing connections,
with fully managed, automatically updated and customized firewall
rules.
-- Parental Controls: A secure, easy-to-use content-filtering program
that allows subscribers to prevent their children from accessing
inappropriate Internet content. Blocks millions of URLs, and also
manages the use of online applications and the amount of time children
spend online.
-- PC Optimizer: Offers subscribers a superior customer experience and
maximized computer and Internet performance. With a full range of disk
cleanup and optimization features such as defragmenting files, the
service automatically improves system operation on a regular basis.
-- Pop-up & Ad Blocker: Helps ensure a faster and less cluttered browsing
experience by blocking online ads such as pop-ups, pop-unders,
banners, animations and tile ads.
-- Privacy Manager: Scans all outgoing communications for sensitive or
identifying user information to help prevent its release without
consent. It also provides control over how much information Web sites
record about browsing habits, as well as a cleanup utility to
automatically remove data traces left by browsers and programs.
Among the user-friendly features of VISS is a simplified download process, which sets up the software to operate in the background of a PC to help protect Internet users on several different fronts. In addition, the service updates its security software every three hours to make sure subscribers have the most current security tools to protect them.
All of the security suite coverage is available for a low monthly price of $5.99 from one of the most trusted network and Internet service providers. VISS also is available to Verizon FiOS Internet and Verizon High Speed Internet subscribers as an annual subscription costing $59.99, a 15 percent savings over the month-to-month price.
VISS, which is also available to small-business customers, utilizes advanced technology from Radialpoint, the leading provider of ISP-delivered, managed IT services and support for the digital home.
More information regarding Verizon's security suite is available at http://www.verizon.net/VISS.
Verizon Communications Inc. , headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 86 million customers nationwide. Verizon's Wireline operations provide converged communications, information and entertainment services over the nation's most advanced fiber-optic network. Wireline also includes Verizon Business, which delivers innovative and seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 237,000 and last year generated consolidated operating revenues of more than $97 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Cliff Lee, +1-518-396-1095, clifford.p.lee@verizon.com
Web Site: http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Integrated Device Technology, Inc. and Tundra Semiconductor Corporation sign definitive acquisition agreementTransaction to Provide Mutual Customers with Broader Product Portfolio and Strengthened Roadmap for Innovation
SAN JOSE, CA, and OTTAWA, April 30 /PRNewswire-FirstCall/ -- IDT(R) (Integrated Device Technology, Inc.; NASDAQ: IDTI), a leading provider of essential mixed signal semiconductor solutions that enrich the digital media experience, and Tundra (Tundra Semiconductor Corporation; TSX: TUN), a leader in system interconnect, today announced the two companies have entered into a definitive acquisition agreement (the "IDT/Tundra Acquisition Agreement") pursuant to which IDT will acquire Tundra for CDN$6.25 per share, for an aggregate purchase price of approximately CDN$120.8 million.
"IDT is excited about the proposed acquisition of Tundra. We look forward to better serving our customers by utilizing the Tundra core strengths in serial switching and bridging using PCI Express(R), Rapid IO(R) and VME, with the existing IDT mixed signal product portfolio," said Dr. Ted Tewksbury, president and CEO at IDT. "We believe the result of this transaction will provide our customers with a broader product offering as well as improved service, support and future roadmap of serial connectivity innovations. This transaction reflects our commitment to extending our technology leadership in the communications end market, which is particularly critical in the current challenging economic environment."
"Tundra is excited to bring this opportunity to shareholders and customers," said Daniel Hoste, President and Chief Executive Officer of Tundra. "We believe that the combined technology innovation capability of the two companies will allow our customers better service, products, and support with their increasingly complex communications solutions."
About the Transaction
Under the terms of the IDT/Tundra Acquisition Agreement, which is to be completed as a statutory plan of arrangement under the Canada Business Corporations Act, Tundra shareholders will receive cash in the amount of CDN$6.25 per Tundra share. IDT will finance the transaction with cash on hand. All outstanding "out of the money" options of Tundra will be assumed by IDT in the transaction; all "in the money" options and RSUs of Tundra will be cash settled on the transaction closing date. The transaction must be approved by two-thirds of the votes cast by Tundra shareholders at a special meeting expected to be held in June, 2009, and is subject to, Canadian court approval as well as customary closing conditions. In the event that the transaction does not close, in certain circumstances Tundra has agreed to pay IDT a termination fee of CDN$5.4 million in accordance with the IDT/Tundra Acquisition Agreement. Tundra has received an opinion from its financial advisors that the transaction is fair from a financial perspective to its shareholders. The transaction was unanimously approved by the board of directors of each company (subject to the abstention of Mr. Shlapak who is a member of the board of directors of both Tundra and Gennum Corporation). Subject to certain exceptions, executive officers and directors of Tundra have agreed to vote their outstanding Tundra shares in favor of the transaction. The transaction is expected to be completed late in the second quarter or early in the third quarter of 2009. Upon completion of the transaction, the Tundra shares will be de-listed from the Toronto Stock Exchange.
Tundra announced earlier today that Gennum (Gennum Corporation; TSX: GDN) notified Tundra that it would not exercise its right under the amended arrangement agreement between Tundra and Gennum (the "Gennum Agreement") to match the IDT offer. As a result, Tundra has paid the CDN $5.0 million termination fee to Gennum and has terminated the Gennum Agreement in accordance with its terms. The special meeting of Tundra shareholders to consider the Gennum transaction that was scheduled for May 8, 2009 has been cancelled.
Barclays Capital, Inc. acted as financial advisors and Latham & Watkins LLP and McCarthy Tetrault LLP acted as legal counsel to IDT. Citigroup Global Markets Inc. acted as financial advisor and Osler, Hoskin & Harcourt LLP acted as legal counsel to Tundra.
About IDT
With the goal of continuously improving the digital media experience, IDT integrates its fundamental semiconductor heritage with essential innovation, developing and delivering low-power, mixed signal solutions that solve customer problems. Headquartered in San Jose, Calif., IDT has design, manufacturing and sales facilities throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market(R) under the symbol "IDTI." Additional information about IDT is accessible at http://www.idt.com/.
About Tundra
Tundra Semiconductor Corporation (TSX:TUN) supplies the world's leading communications, computing and storage companies with System Interconnect products, intellectual property (IP) and design services backed by world-class customer service and technical support. Tundra's track record of product leadership includes over a decade of bridges and switches enabling key industry standards: RapidIO(R), PCI, PCI-X, PCI Express(R), Power Architecture(TM), VME, HyperTransport(TM), Interlaken, and SPI4.2. Tundra's products deliver high functional quality and simplified board design and layout, with specific focus on system level signal integrity. Tundra's design services division, Silicon Logic Engineering, Inc., offers industry-leading ASIC and FPGA design services, semiconductor intellectual property and product development consulting. Tundra's technology connects critical components in high performance embedded systems around the world. For more information, please visit http://www.tundra.com/.
Forward Looking Statements
This document includes forward-looking statements. These statements can be identified by the words, "believes," "views," "expects," "projects," "hopes," "could," "will," "intends," "should," "estimate," "would," "may," "anticipates," "plans," "proposes" and other similar words. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking information, and are based on current expectations, estimates, forecasts and projections. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (1) failure to obtain the approval of Tundra shareholders or the court of the plan of arrangement; (2) actions that may be taken by the competitors, customers and suppliers of IDT or Tundra that may cause the transaction to be delayed or not completed; (3) the possibility that the revenues, cost savings, growth prospects and any or other synergies expected from the proposed transaction may not be fully realized or may take longer to realize than expected; (4) the challenges and costs of closing, integrating, restructuring and achieving anticipated synergies; (5) the possibility that the transaction may not be accretive to IDT as expected; (6) the ability to retain key employees and customers; and (7) other economic, business, competitive, and/or regulatory factors affecting the businesses of IDT and Tundra generally, as well as those of the combined companies, including (a) those set forth in the section entitled "Risk Factors" in the Management Information Circular to be mailed to Tundra shareholders in connection with the proposed transaction, (b) those set forth in filings of IDT, especially in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of its annual reports on Form 10-K and quarterly reports on Form 10-Q, its current reports on Form 8-K and other SEC filings (available online at http://www.sec.gov/) and (c) the other factors described in Tundra's annual information form for its year ended April 30, 2008, and its recent annual and quarterly financial reports (available online at http://www.sedar.com/). These forward-looking statements speak only as of the date hereof. We assume no obligation to publicly release the results of any revisions or updates to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required by law.
Additional Information and Where You Can Find It
This material is not a substitute for the Management Information Circular that Tundra intends to file with the Canadian securities regulatory authorities or any other documents which IDT or Tundra may file or distribute in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE MANAGEMENT INFORMATION CIRCULAR AND ALL OTHER RELEVANT DOCUMENTS IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders may obtain any documents pertaining to the proposed transaction filed by IDT at the SEC's website (http://www.sec.gov/) and filed by Tundra with SEDAR at http://www.sedar.com/.
This announcement is for information purposes only and does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security.
IDT and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Tundra and the Tundra logo are registered marks of Tundra Semiconductor Corporation in Canada, the United States, the European Union and the People's Republic of China. RapidIO is a trademark of the RapidIO Trade Association, Inc. The PowerPC name, the Power Architecture name, and the PowerPC logotype are trademarks of International Business Machines Corporation, used under license therefrom. Other registered and unregistered trademarks are the property of their respective owners.
TUNDRA SEMICONDUCTOR CORPORATION
CONTACT: IDT Financial Contact: Mike Knapp, IDT Investor Relations, (408) 284-6515, mike.knapp@idt.com; IDT Press Contact: Carolyn Robinson, IDT Worldwide Marketing, (408) 284-8200, carolyn.robinson@idt.com; Tundra Financial Contact: David Long, Chief Financial Officer, (613) 592-0174, david.long@tundra.com; Tundra Press Contact: Keri Zeran, Director, Marketing Communications, (613) 697-6788, keri.zeran@tundra.com
Dr. Robert W. Bower Joins the EPIR / Sunovia Team as Senior Director of Product InnovationFamed Inventor to Assist Solar Development
SARASOTA, Fla. and BOLINGBROOK, Ill., April 30 /PRNewswire-FirstCall/ -- Sunovia Energy Technologies, Inc. (BULLETIN BOARD: SUNV) and EPIR Technologies, Inc. (EPIR and collectively with Sunovia, "the Partners") announce that Robert W. Bower, inventor of the Self-Aligned Gate Field Effect Transistor (SAGFET) and Metal-Oxide Semiconductor Field Effect Transistor (MOSFET), has joined EPIR Technologies as Senior Director of Product Innovation and Strategic Advisor. Dr. Bower is the only member ever to be inducted to both the National Inventors Hall of Fame and the Semiconductor Hall of Fame. Dr. Bower's expertise further enhances the Partner's low-cost, high-throughput multi-junction solar cell manufacturing processes.
The SAGFET and MOSFET is used by the millions in virtually every integrated circuit 'chip' in every computer, iPod, cell phone and other consumer electric devices on the planet. The SAGFET is the most replicated man-made inorganic structure in history.
Dr. Siva Sivananthan, founder and CEO of EPIR Technologies, Inc., stated, "Dr. Bower's inventive genius and career achievements are amply demonstrated by his many awards and extensive patent portfolio. Our chance meeting 14 years ago at a conference in Chennai, India led to my firsthand understanding of his exceptional talents. Dr. Bower is already contributing greatly to our ultra-high efficiency solar cell development and new infrared imaging products. Dr. Bower is also developing a new product line of silicon integrated circuits that cost-effectively add light emission from the circuit's nodes." Dr. Sivananthan added, "Dr. Bower's recognition of the work and innovation that we are achieving is most gratifying."
Dr. Bower stated, "My exposure to leading semiconductor manufacturers throughout the world as an advisor and consultant has led me to choose EPIR Technologies as the place to work. I believe the CdTe/Si solar substrate that EPIR and Sunovia are currently commercializing has the potential to become the standard for solar chip development in much the same way SAGFET and MOSFET became the standard for integrated circuits. EPIR has already established dominance in the infrared field, and my assessment is that EPIR and Sunovia will fulfill their great promise in becoming dominant in solar energy." Dr. Bower added, "The level of innovation, talent and focus of the entire team is a privilege to work with."
Dr. Bower obtained his PhD in Applied Physics at the prestigious California Institute of Technology (Caltech) in 1973, and has been presented with the Distinguished Alumni award, which is the highest honor Caltech makes to an individual. He is an Emeritus Professor of the Electrical and Computer Engineering Department of the University of California at Davis. He is also a Distinguished Visiting Fellow at the Physics Department at Queens University, Belfast and the University of New South Wales, Australia. He is a member of the National Academy of Engineering, a Life Fellow of the IEEE, and a Fellow of the American Physical Society. He has been honored with numerous distinguished awards such as the Ronald H. Brown, American Innovators Award and the Alexander von Humboldt Research Award, to name a few. He is also a member of Boehmische Physical Society, Phi Beta Kappa, Sigma Xi, and the American Association for the Advancement of Science.
In addition to Dr. Bower's contributions in the advancement of SAGFET and MOSFET, he has published over 80 journals and articles, patented over 28 inventions, and authored chapters in 3 different books.
About Sunovia Energy Technologies, Inc.
Sunovia(TM) Energy Technologies is a Sarasota, Florida-based energy independence company. Sunovia's primary lines of business are advanced, cost-effective concentrated photovoltaic (CPV) solar systems that employ patented cadmium telluride (CdTe) solar cell and infrared (IR) technologies, and energy-efficient LED lighting products marketed under the EvoLucia(TM) brand. In addition, Sunovia has exclusive marketing rights to infrared products produced by EPIR Technologies, Inc. for civilian and military night vision markets.
Sunovia's solar and LED lighting technologies are among the most cost and energy efficient in the world, and the Company's research and development is dedicated to ensuring that Sunovia stays at the forefront of the renewable energy curve as markets expand and territories are defined. Sunovia is being advised by pre-eminent authorities in the field of renewable energy, including former Secretary of Energy Spencer Abraham and former Under Secretary of Commerce Kenneth I. Juster.
Sunovia owns a significant equity interest in Illinois-based EPIR Technologies, Inc., a global leader in the field of IR sensors and IR imaging that has pioneered the commercialization of CdTe on Si and HgCdTe on Si photovoltaic products, EPIR's infrared knowledge and experience is equal to or exceeds any company in the world. EPIR holds the patent for growing CdTe directly on a Si readout integrated circuit, for which the company is developing a manufacturing capability with Congressional funding. Sunovia and EPIR have a network of close collaborative relationships, including the Army Research Laboratory, the National Renewable Energy Laboratory, the Night Vision Electronic Sensors Directorate, BAE Systems, and other laboratories around the world.
More information about the exclusive partnership between Sunovia and EPIR is available in the Sunovia's Securities and Exchange filings at http://www.sec.gov/, or at the companies' websites, http://www.sunoviaenergy.com/ and http://www.epir.com/.
The Sunovia(TM) logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services and EvoLucia(TM) products and services are provided by Sunovia Energy Technologies, Inc.
Forward-Looking Statement
Some of the statements made by Sunovia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
Sunovia Energy Technologies, Inc.
CONTACT: Craig Hall of Sunovia Energy Technologies, Inc., +1-941-751-6800, craig.hall@sunoviaenergy.com
Web Site: http://www.sunoviaenergy.com/
Shamir Optical Industry Ltd. Appoints Amos Netzer as New Chief Executive Officer
KIBBUTZ SHAMIR, Israel, April 30 /PRNewswire-FirstCall/ -- Shamir Optical Industry Ltd. ("Shamir"), a leading provider of innovative products and technology to the ophthalmic lens market, today announced that it has appointed Mr. Amos Netzer, age 53, as its new chief executive officer, replacing Mr. Eyal Hayardeny who has resigned from the position. The appointment of Mr. Netzer will become effective on July 1, 2009.
Mr. Netzer currently serves as the chief executive officer of Spirit Economic Consultants Ltd. He served as an external director of the Shamir board of directors until April 26, 2007. From July 2000 and until September 2007 he served as the managing director of Palram Industries Ltd., a public company traded on the Tel Aviv Stock Exchange. From 1998 until 2000 he was the managing director of SMS, a private company engaged in the production and distribution of plastic products to world markets. Between 1993 and 1997, he was president of Suntuf, Inc., a U.S.based company where he was responsible for the establishment of the North and South American marketing and distribution network of PalramPaltough Ltd. He currently serves as a board member of Palram Industry Ltd., SZP Ltd., Al Baad Ltd., and as the chairman of the board of directors of Bio Bee Ltd., and Polyrit Ltd. He holds a B.Sc. degree in industry and administrative engineering from the Technion Institute in Haifa and an MS degree in public policy from Tel Aviv University.
"We are satisfied that Amos shall serve as Shamir's new chief executive officer. We are sure that his wide experience in previous positions shall assist to promote Shamir and its subsidiaries worldwide" said Uzi Tzur, the chairman of Shamir's board of directors.
Uzi Tzur added, "We thank Eyal Hayardeny for his contribution to Shamir for approximately five years, including his work during Shamir's public offering and his service as executive vice president and vice president of business development, and would like to wish him success at his new path."
About Shamir
Shamir is a leading provider of innovative products and technology to the spectacle lens market. Utilizing its proprietary technology, the company develops, designs, manufactures, and markets progressive lenses to sell to the ophthalmic market. In addition, Shamir utilizes its technology to provide design services to optical lens manufacturers under service and royalty agreements. Progressive lenses are used to treat presbyopia, a vision condition where the eye loses its ability to focus on close objects. Progressive lenses combine several optical strengths into a single lens to provide a gradual and seamless transition from near to intermediate, to distant vision. Shamir differentiates its products from its competitors' primarily through lens design. Shamir's leading lenses are marketed under a variety of trade names, including Shamir Genesis(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Nano(TM), Shamir Autograph(TM) and Shamir Smart(TM). Shamir believes that it has one of the world's preeminent research and development teams for progressive lenses, molds, and complementary technologies and tools. Shamir developed software dedicated to the design of progressive lenses. This software is based on Shamir's proprietary mathematical algorithms that optimize designs of progressive lenses for a variety of activities and environments. Shamir also has created software tools specifically designed for research and development and production requirements, including Eye Point Technology software, which simulates human vision.
Investor Relations Contacts:
Roni Gavrielov Jeffrey Goldberger/Marybeth Csaby
KM / KCSA Investor Relations KCSA Strategic Communications
+972-3-516-7620 212-896-1249/212-896-1236
roni@km-ir.co.il jgoldberger@kcsa.com / mcsaby@kcsa.com
Shamir Optical Industry Ltd.
CONTACT: Roni Gavrielov, KCSA Investor Relations, +972-3-516-7620, roni@km-ir.co.il, or Jeffrey Goldberger, +1-212-896-1249, jgoldberger@kcsa.com, or Marybeth Csaby, +1-212-896-1236, mcsaby@kcsa.com, all of KCSA Strategic Communications for Shamir Optical Industry Ltd.
Call of Duty(R): World at War Map Pack 2 Preparing for Deployment
SANTA MONICA, Calif., April 30 /PRNewswire-FirstCall/ -- New battle lines have been drawn for one of the most intense and most-played online multiplayer games, as Activision Publishing, Inc. and developer Treyarch, confirmed plans today for Call of Duty(R): World at War Map Pack 2. Set for release in June, Call of Duty(R): World at War Map Pack 2 will feature three multiplayer maps and one new Zombie map, and appear on the Xbox 360(TM) video game and entertainment system from Microsoft and the PLAYSTATION(R)3 computer entertainment system.
"Call of Duty: World at War Map Pack 2 underscores Treyarch's commitment to delivering ongoing support, and new multiplayer and co-op Zombie gameplay experiences for our players," said Treyarch Studio Head, Mark Lamia. "Our community has been outstanding and has driven support for Map Pack 1, as well as demand for additional downloadable content like Map Pack 2."
Online, players will compete in "Banzai," and fight for control of a tall, river bridge, deep within enemy territory; face down foes in a shattered Russian train yard in "Corrosion"; and struggle to control a bombed-out submarine base in the close-quarter map, "Sub Pens." In "Shi No Numa" (Zombie Swamp), Imperial Zombies rise from misty swamps in an all new co-op experience, with a level that features a mix of traps, flaming Hell Hounds, Perk machines and the deadly, new Wunderwaffe DG-2, as well as 10 new Xbox 360 Achievements/PS3 Trophies that can be earned along the way.
Call of Duty: World at War is rated "M" (Mature) by the ESRB for Intense Violence, Strong Language, Blood and Gore. For more information and exclusive updates about Call of Duty: World at War, visit http://www.callofduty.com/.
About Activision Publishing, Inc.
Headquartered in Santa Monica, California, Activision Publishing, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products.
Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, the Netherlands and Australia. More information about Activision and its products can be found on the company's website, http://www.activision.com/.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Publishing's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Publishing generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," future," "plan," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming" and similar expressions to help identify forward-looking statements. Factors that could cause Activision Publishing's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Publishing's titles, shifts in consumer spending trends, the impact of the current macroeconomic environment, the seasonal and cyclical nature of the interactive game market, Activision Publishing's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Publishing's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, litigation against Activision Publishing, maintenance of relationships with key personnel, customers, vendors and third-party developers, domestic and international economic, financial and political conditions and policies, foreign exchange rates, integration of recent acquisitions and the identification of suitable future acquisition opportunities, Activision Blizzard's success in integrating the operations of Activision Publishing and Vivendi Games in a timely manner, or at all, and the combined company's ability to realize the anticipated benefits and synergies of the transaction to the extent, or in the timeframe, anticipated, and the other factors identified in Activision Blizzard's most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The forward-looking statements in this release are based upon information available to Activision Publishing and Activision Blizzard as of the date of this release, and neither Activision Publishing nor Activision Blizzard assumes any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Publishing or Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
(C)2009 Activision Publishing, Inc. Activision and Call of Duty are registered trademarks of Activision Publishing, Inc. All rights reserved. Xbox, Xbox 360, Xbox Live, Windows and Games for Windows are either registered trademarks or trademarks of Microsoft Corporation. All other trademarks and trade names are the properties of their respective owners.
Activision Publishing, Inc.
CONTACT: John Rafacz, PR Manager of Activision Publishing, Inc., +1-310-496-5207, jrafacz@activision.com
Web Site: http://www.activision.com/ http://www.callofduty.com/
Company News On-Call: http://www.prnewswire.com/comp/007396.html
Numerex Schedules First Quarter 2009 Financial Results Conference Call
ATLANTA, April 30 /PRNewswire-FirstCall/ -- Numerex Corp. invites all interested parties to participate in a conference call led by Stratton Nicolaides, Chairman and CEO and Alan Catherall, CFO on Thursday, May 7, 2009 at 9:00 A.M. Eastern time to discuss the first quarter, 2009 financial results.
Dial in information for the conference call is as follows:
Domestic USA & Canada: (866) 838-2057
International: (904) 596-2360
A live web cast of the call will be available via Numerex's web site at http://www.numerex.com/ under the Investor Relations section.
A replay of the conference call will be available two hours after the end of the call on the Numerex web site or by dialing the replay numbers below:
Domestic USA & Canada: (888) 284-7564
International: (904) 596-3174
Please use pass code: 248570
About Numerex
Numerex Corp. is the machine-to-machine (M2M) provider of choice to some of the world's largest organizations delivering secure, all-around solutions through a single source. The Company's M2M expertise enables its customers to efficiently, reliably, and securely monitor and manage assets remotely whenever and wherever needed, while simplifying and speeding up development and deployment. Numerex is the first M2M service provider in North America to carry the ISO 27001 information security certification. Numerex DNA(TM) offerings include hardware Devices, Network services, and software Applications offered as individual components or as bundled services. At Numerex, "Machines Trust Us(TM)". For additional information, please visit http://www.numerex.com/.
Statements contained in this press release concerning Numerex that are not historical fact are "forward-looking" statements and involve important risks and uncertainties. Such risks and uncertainties, which are detailed in Numerex's filings with the Securities and Exchange Commission, could cause Numerex's results to differ materially from current expectations as expressed in this press release.
Numerex Corp. Contact:
Alan Catherall
+1-770-485-2527
Investor Relations Contact:
Seth Potter
+1-646-277-1230
Numerex Corp.
CONTACT: Numerex Corp. Contact: Alan Catherall, +1-770-485-2527; or Investor Relations Contact: Seth Potter, +1-646-277-1230
Web Site: http://www.numerex.com/
Aero Dynamix and Longhorn Helicopters Sign Exclusive Training Agreement
DENTON, Texas, April 30 /PRNewswire/ -- Longhorn Helicopters, Inc. of Denton, TX has teamed with Aero Dynamix of Euless, TX to provide Night Vision Goggle training in their Sikorsky S-300C(TM) helicopters and Bell 206 utilizing the NVG compatible lighting system created by Aero Dynamix. This allows Longhorn Helicopters to train pilots in NVG at a substantially lower cost than conventional NVG methods. This also allows Aero Dynamix to be a complete night vision supplier for all of their customers NVG needs.
Aero Dynamix offers NVG modification and full repair/overhaul capabilities for all NVG modified items offered thru exclusive ADI - OEM agreements that ensure the factory warranty remains intact. ADI has developed FAA Approved NVG mod procedures for over 5,500 instruments, avionics and lighting accessories. The company also offers in house engineering and a manufacturing department that provides PMA Edge Lit Panels (ELPs) for most rotor wing aircraft models.
Longhorn Helicopters, Inc. is conveniently located near the Dallas/Ft. Worth area and has ideal weather conditions for training.
Sikorsky Global Helicopters, a Sikorsky company, comprises current Sikorsky platforms S-76(R), S-92(R) and H-92(TM) helicopters; light helicopter platforms, the S-300C(TM), S-300 CBi(TM), S-333(TM) and S-434(TM) helicopters; and all operations of Keystone Helicopter Corp. and Associated Aircraft Group (AAG). Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture, and service. 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.
Aero Dynamix, Inc. Longhorn Helicopters
3227 W. Euless Blvd. Ste 300 4650 John Carrell Road
Euless, TX 76040 Denton Municipal Airport (KDTO)
(817) 571-0729 Denton, TX 76207
http://www.aerodynamix.com/ http://www.longhornhelicopters.com/
sales@aerodynamix.com info@longhornhelicopters.com
Longhorn Helicopters, Inc.
CONTACT: Valerie Williamson of Longhorn Helicopters, +1-817-657-4725, info@longhornhelicopters.com
Web Site: http://www.longhornhelicopters.com/
Cal State Fullerton University and The College of New Jersey Join i2 Collegiate Partner Program73 colleges and universities across U.S. and Canada now part of innovative program to train students on analytical software used by intelligence and law enforcement agencies
MCLEAN, Va., April 30 /PRNewswire/ -- i2 Inc., the leading global provider of visual investigative analysis software for law enforcement, intelligence, military and Fortune 500 organizations, today announced that Cal State Fullerton University and The College of New Jersey have joined the i2 Collegiate Partner Program.
Launched in 2003, i2's Collegiate Partner Program addresses the pervasive need by law enforcement and intelligence organizations for analysts trained on advanced analytical software to thwart sophisticated criminal activity and terrorist networks. Recognizing the budget constraints academic institutions face, the program provides participating universities and colleges with free i2 software (including award-winning i2 Analyst's Notebook(R)), support, and instructor training for use within degree programs relevant to the intelligence and law enforcement communities.
"In today's soft labor market, college graduates who enter the workforce job-ready hold a tremendous competitive advantage relative to their peers," said Bill McGilvery, vice president of i2. "The Collegiate Partner Program continues to see tremendous traction as a growing number of academic institutions recognize the importance of arming students with tangible analytical skills for real-world law enforcement and intelligence applications."
More than 2,000 law enforcement, intelligence, military, government, and private sector organizations worldwide rely on i2's analysis software to access, analyze, and share information within and across agencies. The software provides automation that helps organizations discover otherwise-concealed clues to their investigations by instantly revealing connections, associations, trends, and patterns hidden in data. With the addition of Cal State Fullerton University and The College of New Jersey, the i2 Collegiate Partner Program now comprises 73 universities and colleges; and 9,200 students utilize i2's visual analysis software annually across degree programs including:
-- criminal justice/public safety
-- accounting/economic crime
-- intelligence/homeland security
-- agriculture security
-- IT/network security
"We are tremendously grateful to have access to world-class analytical software and training that would not otherwise be possible," said Dr. Chamont Wang, Professor in the Department of Mathematics and Statistics, The College of New Jersey. "The i2 Collegiate Partner Program adds a new dimension to our data mining class for numerous applications of fraud detection and crime fighting, better positioning our graduates for employment in today's challenging job market."
In addition to helping students become more marketable to employers and successfully transition to careers in intelligence analysis and law enforcement, the i2 Collegiate Partner Program has benefited participating academic institutions' surrounding communities. Over the past several years local law enforcement and government agencies have tapped classes using i2 software to solve cold cases, conduct economic crime analysis, and perform other analytical support.
"We've been hearing very positive feedback from the four other California State Universities participating in the program, and so far the students in our crime analysis class are enthusiastic about the opportunity to gain skills on analytical software that will make them more marketable after graduation," added William Van Cleve, Professor, Cal State Fullerton University. "By donating millions of dollars of software to the California State University system, i2 is helping to prepare tomorrow's generation of analysts for the complex challenges our nation will face."
About The i2 Collegiate Partner Program
The i2 Collegiate Partner Program provides eligible universities and colleges with free i2 software, support and instructor training for use within degree programs relevant to the intelligence and law enforcement communities, including: criminal justice/public safety, accounting/economic crime, intelligence/homeland security, agriculture security, and IT/network security. Since the program launched in 2003, i2 has donated well over 10 million dollars of its visual investigative analysis software to academic institutions throughout the country. There are 73 Universities participating in the program, including Auburn University, James Madison University, Johns Hopkins University, Mercyhurst College, Michigan State University, Georgetown University, Naval Postgraduate School, and University of Maryland.
About i2 Inc.
i2 is the leading worldwide provider of visual investigative analysis software for law enforcement, government, military, intelligence and commercial organizations. Our integrated suite of products enables investigators and analysts to quickly understand complex scenarios and volumes of seemingly unrelated data, perform analysis and communicate the results. For nearly 20 years, i2's products have proven instrumental in helping to solve cases of fraud, drug trafficking, counterterrorism, national security, corporate security and more. That is why more than 2,000 organizations in over 100 countries rely on i2 for investigative and intelligence analysis.
i2 Inc.
CONTACT: Debbie Molis of i2 Inc., or Bill McGilvery of i2 Collegiate Partner Program, both at +1-703-921-0195
Web Site: http://www.i2inc.com/
Paragon Technologies Voluntarily Delists and Deregisters Stock
EASTON, Pa., April 30 /PRNewswire-FirstCall/ -- Paragon Technologies, Inc. (NYSE Amex: PTG), a leading supplier of "smart" material handling systems and "software-driven" warehouse and distribution center solutions, today announced that it has filed with the NYSE Amex and the Securities and Exchange Commission (the "SEC") a Form 25 relating to the delisting and deregistration of its common stock. Accordingly, the Company anticipates that trading of its common stock on the NYSE Amex may be suspended on April 30, 2009 and that its common stock will be delisted from the NYSE Amex on or about May 11, 2009, and on or about that date, the Company will file with the SEC a Form 15, Notice of Termination and Suspension of Duty to File, to terminate its reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
When the Form 15 has been filed, the Company's obligations to file certain reports with the SEC, including Forms 10-K, 10-Q and 8-K, will immediately be suspended. The Company expects that the deregistration of its common stock will become effective 90 days after the date the Form 15 is filed with the SEC. The Company is eligible to deregister its common stock because it has fewer than 300 stockholders of record.
Following the delisting and deregistration of the Company's common stock, it is expected that trading of the Company's common stock by continuing stockholders may be effected through privately negotiated transactions or, if the Company qualifies, in the Pink Sheets (a centralized quotation service that collects and publishes market maker quotes for securities). The Company has engaged a market maker who has applied for the quotation of the Company's common stock in the Pink Sheets. The Company has been working with the market maker to have the quotation in the Pink Sheets effective as soon as reasonably possible.
If the Company's common stock is listed and traded in the Pink Sheets, the Company intends to try to comply with rules permitting its common stock to be continuously quoted and traded in the Pink Sheets. However, there is no assurance that either the Company or a market maker will comply with such rules. More information about the Pink Sheets can be obtained from its website at http://www.pinksheets.com/.
Len Yurkovic, Acting CEO of Paragon Technologies, commented, "The Company's Board of Directors previously authorized the delisting and deregistration of the Company's common stock after concluding that the consequences of remaining an SEC-reporting company, including the significant costs associated with regulatory compliance, outweighed the current benefits of public company status to the Company and its stockholders."
Paragon's SI Systems' branded technologies drive productivity at Fortune 1000 companies and the United States Government.
About Paragon Technologies
Paragon Technologies is a leader in integrating material handling systems and creating automated solutions for material flow applications. SI Systems' branded technologies and material handling solutions address unit assembly in manufacturing operations and order fulfillment applications. One of the top material handling systems suppliers worldwide, SI Systems' leading clients have included the United States Postal Service, BMG, Peterbilt, Honda, and Maybelline.
Cautionary Statement. Certain statements contained herein are not based on historical fact and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities and Exchange Commission rules, regulations and releases. Paragon intends that such forward-looking statements be subject to the safe harbors created hereby. Among other things, the forward-looking statements regard Paragon's earnings, liquidity, financial condition, review of strategic alternatives, and other matters. Words or phrases denoting the anticipated results of future events, such as "anticipate," "does not anticipate," "should help to," "believe," "estimate," "is positioned," "expects," "may," "will," "is expected," "should," "continue," and similar expressions that denote uncertainty, are intended to identify such forward-looking statements. Paragon's actual results, performance, or achievements could differ materially from the results expressed in, or implied by, such "forward-looking statements:" (1) as a result of factors over which Paragon has no control, including the strength of domestic and foreign economies, sales growth, competition, and certain cost increases; and (2) if the factors on which Paragon's conclusions are based do not conform to its expectations. The forward-looking statements contained in this press release may become outdated over time. Paragon does not assume any responsibility for updating any forward-looking statements. Furthermore, achievement of the objectives of the Company is subject to certain risks, including, but not limited to, those risks outlined in Paragon's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2008.
This press release and prior releases are available at http://www.ptgamex.com/.
Paragon Technologies, Inc.
CONTACT: Leonard S. Yurkovic, Acting CEO of Paragon Technologies, Inc., +1-610-252-3205, +1-610-252-3102, Fax
Web Site: http://www.ptgamex.com/
Harris Corporation obtient un contrat de 20 millions USD pour ses radios tactiques Falcon II(R) et Falcon III(R) auprès du ministère polonais de la Défense nationale
ROCHESTER, New York, April 30 /PRNewswire/ --
- Les forces d'opérations spéciales et terrestres vont acquérir les
technologies multibande et HF pour permettre l'interopérabilité des
communications pour les opérations des Etats-Unis, de l'OTAN et de la
coalition
Harris Corporation (NYSE: HRS), une société internationale spécialisée
dans les technologies de l'information et les communications, a obtenu un
contrat s'élevant au total à 20 millions USD auprès du ministère polonais de
la Défense nationale pour fournir une combinaison de radios tactiques
multibande et HF pour les forces de commande des opérations spéciales et
terrestres de Pologne.
(Photo : http://www.newscom.com/cgi-bin/prnh/20090429/FL07552 )
Harris fournit à la Pologne un éventail de produits issus de sa gamme
Falcon(R) leader de l'industrie, parmi lesquels la radio portable multibande
AN/PRC-152(C) ; la radio manpack (<< sac-à-dos >>) multibande AN/PRC-117F(C)
et la radio manpack haute fréquence (HF) AN/PRC-150(C). Ces radios fourniront
aux forces polonaises des communications voix et données sécurisées et une
interopérabilité transparentes avec les forces des Etats-Unis, de l'OTAN et
de la coalition. Toutes les radios possèdent l'architecture définie par
logiciel de Harris, qui permet l'adaptabilité aux conditions de mission
changeantes grâce aux mises à jour logicielles. En outre, la nouvelle
technologie maintiendra l'interopérabilité avec les anciennes radios Harris
déjà déployées par les forces polonaises.
<< Les forces armées polonaises continuent de jouer un rôle vital dans
des missions de maintien de la paix complexes et multinationales dans le
monde >>, a souligné le Brigadier général Slawomir Szczepaniak, directeur du
Département Approvisionnement des forces armées. << Ceci exige que nos
troupes soient équipées du matériel de communications le plus performant et
fiable possible. Les technologies de Harris, comme cela a été prouvé dans les
déploiements passés, garantiront que nos forces disposent de communications
sécurisées continues au sein de nos propres forces ainsi qu'avec nos alliés
sur le terrain. Il s'agit du premier grand contrat signé par le Département
Approvisionnement des forces armées, dans le cadre du programme Foreign
Military Sales (programme de ventes aux armées étrangères) utilisant les
fonds nationaux polonais. >>
Utilisée par les Etats-Unis et les forces alliées dans le monde entier,
la Harris(R) Falcon III(R) AN/PRC-152(C) est la radio compatible avec les
JTRS la plus répandue. La radio Falcon II(R) AN/PRC-117F(C) manpack va
fournir des fonctions de communications multibandes dont les fonctionnalités
voix et données tactiques par satellite sophistiquées.
Les forces polonaises tireront également profit de la technologie HF
sécurisée de Harris avec la radio Falcon II AN/PRC-150(C) manpack, capable de
fournir des communications fiables, au delà de la ligne de visée, ce qui la
rend idéale pour une utilisation dans les environnements montagneux obstrués
ou dans des conditions de longue portée avec recours à un appui extérieur.
<< Harris est honoré d'avoir été sélectionné pour fournir cette gamme de
solutions de communication tactique qui donnera aux forces polonaises les
moyens de travailler efficacement et en toute sécurité avec leurs partenaires
de la coalition >>, a déclaré Dana Mehnert, président de Harris RF
Communications.
Harris RF Communications est le principal fournisseur mondial de
solutions de communications radio sécurisées et d'encryptage intégré de haut
niveau pour les organisations militaires, gouvernementales et commerciales.
La gamme de systèmes radio tactiques Falcon définis par logiciel proposée par
la société comprend des applications manpack, portables et pour véhicules.
Falcon III est la nouvelle génération de radios prenant en charge les
conditions JTRS (Joint Tactical Radio System) de l'armée des Etats-Unis,
ainsi que les opérations réseau-centrées dans le monde entier. Harris fournit
également la gamme Unity de radios multibandes pour le marché de la sécurité
publique.
A propos de Harris Corporation
Harris Corporation est une société internationale spécialisée dans les
technologies de l'information et les communications à destination des marchés
des instances gouvernementales et commerciales dans plus de 150 pays. Basée à
Melbourne, en Floride, la société affiche un revenu annuel de plus de 5,4
milliards USD et compte plus de 16.000 salariés dont près de 7000 ingénieurs
et chercheurs. Harris se consacre au développement de produits, de systèmes
et de services haut de gamme garantissant la qualité des communications
(assured communications(R)). Pour plus d'informations sur Harris Corporation
visitez le site : www.harris.com.
Harris Corporation
Kevin Aman, RF Communications, +1-585-241-8186, Kevin.Aman@harris.com ; Jim Burke, siège social de l'entreprise, +1-321-727-9131, Jim.Burke@harris.com. Photo : http://www.newscom.com/cgi-bin/prnh/20090429/FL07552
Atkins and IBM Sign 14.4 Million Pounds Sterling Data Storage Transformation Agreement
LONDON, April 30 /PRNewswire-FirstCall/ -- IBM and Atkins, a design and engineering consultancy group in the U.K., today announced a five-year managed storage agreement. The IBM solution will put in place the infrastructure and tools needed to manage the storage environment across the business. The agreement will empower Atkins consultants to manage their data personally, while also making costs more transparent to the business.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )
Atkins provides expertise to resolve complex challenges, planning, designing and enabling projects from skyscrapers to rail network upgrades. Each project amasses a large amount of vital data that must be accessible and secure throughout the planning, design and enable stages. With data volumes growing at a rate of 50-60% year-on-year, Atkins selected IBM to help them manage the ever increasing data mountain.
In a two-phased approach, IBM will transition data away from Atkins' regional offices, to reduce the overall storage load. This will include IBM's leading-edge approach to move away from a managed back-up process. Secondly, IBM will convert data to a 'Write Anywhere File System' format as it is moved onto a new IBM managed service, central storage location based on an IBM N-Series storage array.
Mike Russell, Group IS Director at Atkins said, "We recognised that the growth of data was hurting our business flexibility and efficiency, so we asked IBM to help identify and implement a solution to give us the ability to control our data needs today, and also be flexible in dealing with future growth. Atkins consultants need flexible and manageable data storage in support of demanding infrastructure projects. This new service will help us respond to the quickly changing demands of the business."
Mike Jackson IBM General Business Territory Director South at IBM UK said, "We're putting in place a low risk migration plan addressing the complexities of the existing environment and business dependencies which will see Atkins benefit from significant service improvements and also reduce Atkins' carbon footprint associated with data management."
IBM's business partner, GlassHouse Technologies, is working alongside IBM during the migration phase.
The contract was signed in February 2009.
About Atkins
For more information on Atkins visit http://www.atkinsglobal.com/
About IBM
For more information on IBM, visit http://www.ibm.com/services.
Media Contacts:
Andy Winstanley
Atkins Media Relations
+44 (0) 1372 752018
andy.winstanley@atkinsglobal.com
Ken Saunders
IBM External Relations (UK)
+44 (0)207 021 8422
saundken@uk.ibm.com
Aliza Fischer
IBM Media Relations (US)
917-472-3721
afische@us.ibm.com
Photo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
IBM Corporation
CONTACT: Andy Winstanley, Atkins Media Relations, +44(0)1372-752018, andy.winstanley@atkinsglobal.com; or Ken Saunders, IBM External Relations (UK), +44(0)207-021-8422, saundken@uk.ibm.com, or Aliza Fischer, IBM Media Relations (US), +1-917-472-3721, afische@us.ibm.com
Web Site: http://www.ibm.com/services
Plex Systems, Inc. Announces Availability of 'Measuring the ROI of ERP' ReportBest-in-class companies expect ERP to pay for itself within two years, analysts conclude.
AUBURN HILLS, Mich., April 30 /PRNewswire/ -- Plex Systems, Inc., providers of Plex Online software for the manufacturing enterprise, today announced availability of the newly published "Measuring the ROI of ERP: Keeping Projects Alive Just When You Need Them the Most" benchmark report by Aberdeen Group, a Harte-Hanks Company . Plex Systems sponsored the report, which is now available as a free download for a limited time at the Resource Center found at http://www.plex.com/.
Analysts find that with the downturn in today's economy, some companies respond with a knee jerk reaction to stop discretionary spending on ERP projects -- just when ERP's cost-saving potential is needed the most. Given the current economic uncertainty, it's now more critical than ever to keep ERP projects alive.
Using ROI estimates to cost justify projects and measure results, researchers conclude that Best-in-Class companies produce twice the reduction in inventory levels as industry average. With inventory reductions and administrative cost savings, the majority of Best-in-Class companies expect ERP to pay for itself within 2 years.
"A well-managed ERP implementation can be a continuing source of cost savings and operational improvements which help companies survive and thrive in these troubled economic times," said Cindy Jutras, vice president and research fellow, Aberdeen. "By standardizing business processes and providing improved visibility, effective ERP implementation supports organizational goals of revenue and profit growth. While the total cost of ERP ownership is important to monitor and optimize, focus must now expand to include ROI of ERP projects in order to justify continued investment and maximum benefits. "
Adds Mark Symonds, Plex Systems, Inc. CEO, "This timely research confirms the value Plex Online delivers to manufacturers. With the Software as a Service delivery model, implementations are cost-effective, letting companies achieve ROI faster through increased productivity, reduced inventories, reduced scrap and improved lead times. These are vital cost-savings in a down economy."
To obtain a complimentary copy of the report, click HERE.
About Plex Systems, Inc.
Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for manufacturing enterprise. Plex Online offers industry-leading features for virtually every department within manufacturers, including Manufacturing Execution Systems (MES) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online's fully-integrated model delivers a "shop floor to top floor" view of a manufacturer's operations, enabling management to run their business at maximum efficiency. Founded in 1995 as Plexus Systems, Inc., the company is headquartered in Auburn Hills, Michigan, with customers around the globe. More information is online at http://www.plex.com/.
Plex Systems and Plex Online are trademarks of Plex Systems, Inc.
Plexus Systems, Inc.
CONTACT: Peggy Fenwick for Plex Systems, Inc., +1-734-516-6490, pr@plex.com
Web Site: http://www.plex.com/
Media Sciences Announces Third Quarter FY2009 Earnings Conference Call
OAKLAND, N.J., April 30 /PRNewswire-FirstCall/ -- Media Sciences International, Inc. , the leading independent manufacturer of solid ink and color toner cartridges for business color printers, will hold a conference call to discuss its third quarter fiscal 2009 results on Friday, May 15th, 2009, at 8:45 a.m. eastern time. The third quarter fiscal 2009 earnings release is expected to be issued after market close on Thursday, May 14th, 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020604/NYTU016LOGO )
The call will be webcast live by Thomson/CCBN and may be accessed through Media Sciences' web site at http://www.mediasciences.com/. Investors and other interested parties in the United States may access the teleconference by calling 800.901.5226. International callers may dial 617.786.4513. The passcode for the teleconference is 93468560.
Media Sciences International, Inc. , the leading independent manufacturer of solid ink and color toner cartridges for office color printers, has a strong reputation for being the informed customer's choice. As the premium quality and low price alternative to the printer manufacturer's brand, Media Sciences' newly manufactured color toner and solid ink products for use in Brother(R), Dell(R), Epson(R), Konica Minolta(TM), OKI(R), Ricoh(R), Samsung(R), and Xerox(R) office color printers deliver up to and over 30% in savings when compared to the printer manufacturer's brand. Behind every Media Sciences product is The Science of Color(R) -- the company's proprietary process for delivering high quality products at the very best price, including its commitment to exceptional, highly responsive technical support, and its longstanding, industry-leading warranty. For more information on the Company, its products, and its programs, visit http://www.mediasciences.com/, E-mail info@mediasciences.com, or call 201.677.9311.
Brand names are used for descriptive purposes only and are the properties of their respective owners.
Contacts:
Media Sciences International, Inc.
Investor Contact: Kevan D. Bloomgren, Chief Financial Officer,
kbloomgren@mediasciences.com, 201.677.9311, ext. 213
Media Contact: Bill Besold, Marketing Communications Director,
bbesold@mediasciences.com, 201.677.9311, ext. 299
Web site: http://www.mediasciences.com/
Photo: http://www.newscom.com/cgi-bin/prnh/20020604/NYTU016LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Media Sciences International, Inc.
CONTACT: Media Sciences International, Inc., Investors, Kevan D. Bloomgren, Chief Financial Officer, +1-201-677-9311, ext. 213, kbloomgren@mediasciences.com, or Media, Bill Besold, Marketing Communications Director, +1-201-677-9311, ext. 299, bbesold@mediasciences.com
Web Site: http://www.mediasciences.com/
Looking Forward: The Use of Health IT in CrisisA Podcast from Perot Systems on the Role of Information Technology in Improving Healthcare
PLANO, Texas, April 30 /PRNewswire-FirstCall/ -- Edition 3
Host: Dr. Harry Greenspun, executive vice president and chief
medical officer for Perot Systems healthcare group
Guest: Dr. Nathaniel Hupert, Director of The Preparedness Modeling Unit
for The Centers for Disease Control and Prevention (CDC) and
Associate Professor of public health and medicine at Weill
Cornell Medical College
What: "Looking Forward: Perspectives on Healthcare and IT" - a podcast
hosted by Dr. Harry Greenspun, Executive Vice President and
Chief Medical Officer for Perot Systems Healthcare Group
When: This podcast will be available for download on April 30, 2009
Where: http://www.perotsystems.com/MediaRoom/podcasts
Contact: Jonathan Moss
+1 972-577-6395
jonathan.moss@ps.net
Perot Systems (http://www.perotsystems.com/) hosts a series of podcasts with its Chief Medical Officer, Harry Greenspun. This edition of "Looking Forward" is a conversation between Dr. Greenspun and Dr. Nathaniel Hupert of the CDC on the use of health IT in crisis control, a topic of increasing interest and relevance in light of the recent event that have unfolded with the Swine influenza outbreak.
The following quotes from Dr. Nathaniel Hupert are highlights of the podcast:
On preparedness modeling:
"Interest in preparedness modeling came from focusing on anthrax. Groups of modelers were asked to make models of the same scenario to see the impact of a release of anthrax in a major U.S. city. For one of the first times in recent memory, this was an effort to bring quantitative assessment techniques to very complex questions," said Dr. Hupert.
On using available data to create a model:
"One of the really interesting aspects of creating models is that the greater fidelity that you want in the model, the more you really need to rely on data that is floating around on the Internet," stated Dr. Hupert.
On the capabilities of preparedness modeling for hospitals:
"What we're aiming for are models that seem like magic. When we're talking about hurricane evacuation models, someone should be able to make a model where, at the push of a button, you could determine how long it would take to evacuate your hospital right now, with the patients who are actually in your hospital," said Dr. Hupert.
Information about Dr. Nathaniel Hupert:
Since 2000, Dr. Hupert has led a number of federally funded projects to develop improved tools and logistics for mass prophylaxis, bioterrorism response, and health system preparedness for surge capacity. A leading authority in using computer models to predict and plan for public health emergencies, Dr. Nathaniel Hupert has been named director of the new Preparedness Modeling Unit at the U.S. Centers for Disease Control and Prevention (CDC). He remains associate professor of public health and medicine at Weill Cornell Medical College and associate attending physician at NewYork-Presbyterian Hospital/Weill Cornell in New York City.
In his new role, Dr. Hupert will support preparedness modeling activities both within the CDC and among its federal, state, local, and academic partners with the aim of helping formulate policies to safeguard the public's health before, during and after emergency situations, such as infectious disease outbreaks, natural disasters, environmental exposures, climate change and bioterrorism. For more information about Dr. Hupert visit: http://www.weillcornell.org/nathanielhupert.
Information about Dr. Harry Greenspun:
Dr. Harry Greenspun is the Chief Medical Officer for Perot Systems Healthcare Group. He is a nationally recognized physician executive who, as a member of the company's Healthcare Leadership Team, provides strategic direction to drive technological improvements in clinical care. Additionally, his position as a thought leader in the healthcare industry enables him to communicate Perot Systems' market-leading healthcare transformation capabilities. For more information about Dr. Greenspun, go to: http://www.perotsystems.com/MediaRoom/Speakers/People/Harry_Greenspun.
About Perot Systems
Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2008 revenue of $2.8 billion. The company has more than 23,000 associates located in the Americas, Europe, Middle East and Asia Pacific. Additional information on Perot Systems is available at http://www.perotsystems.com/.
This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. For factors that could affect our business and cause actual results to differ materially, please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, as filed with the U.S. Securities and Exchange Commission and available at http://www.sec.gov/, as updated in our Quarterly Reports on Form 10-Q filed after such Form 10-K, for additional information regarding risk factors. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.
Perot Systems
CONTACT: Jonathan Moss, +1-972-577-6395, jonathan.moss@ps.net
Web Site: http://www.perotsystems.com/
Company News On-Call: http://www.prnewswire.com/comp/122686.html
Latest Insights and Security Solutions at the IFSEC Conference 2009
BIRMINGHAM, England, April 30 /PRNewswire/ --
Providing an international panel of speakers, the IFSEC Conference hosts
timely debate and provides practical solutions to the most critical
challenges facing security professionals in uncertain times.
Taking place alongside the annual IFSEC exhibition at the NEC in
Birmingham on 11-13 May, the modular conference provides 9 bundles of
information, helping delegates to focus on their specific interest areas.
Each conference module lasts for two hours and delegates will hear from
at least 3 expert speakers on the most critical areas under that topic. The
last half hour of each module has been dedicated to a panel question and
answer session to promote best practice sharing and ensure delegates take
away the specific answers they attended the session to gain.
The conference attracts an international delegation and is a unique
networking opportunity at the IFSEC exhibition in intimate surroundings.
Bookings can be made either online at www.ifsec.co.uk/conference or on the
day at IFSEC.
Day One - Global, National and Local Protection provides essential
learning and updates for government officials, public sector professionals
and security personnel across major areas of CNI. Module 1A - Global Terror
will hear from international experts close to the threats at large. Uncover
unique insights into Al Qaeda plans and review the evolving role of security
professionals in managing the unprecedented threats faced today.
Module 1B will look at 3 major areas of critical national infrastructure
in the UK and look at the latest developments to develop partnership working
for the protection of major transport links, preparing for an international
threat of a health pandemic and how the UK is preparing for London 2012.
The last module on day one will bring this down to a more local level for
security managers grappling with their business continuity plans on the
ground. With practical learning on how to develop plans and also scale
them-up at times of increased uncertainty. This module will hear from UK Home
Office experts as well as shared learnings from the financial services
industry.
Day Two - Corporate Security Management has been designed to reflect the
challenging times security managers face in a rapidly changing world and
global recession.
Module 2A will focus on how to manage a security budget in a recession,
how to maintain risk sanity in your organisation as well as provide top tips
to tackle employee crime.
Module 2B takes the threat of employees one step further and provides
practical guidance to manage the threat within - helping you to vet and
screen new employees as well as protect your people working in isolated
situations or operating on a global platform - mitigating fears of the new
Corporate Manslaughter Act.
The third module aptly focuses on the security risks of a digital world -
helping security managers navigate the complexities as IT and security worlds
merge.
Day Three - Technological Innovation focuses on three core areas of
technology development for closer scrutiny and practical guidance. IP is
still a hot topic for many industry sectors and the first module on day three
provides a step-by-step guide to the key decision areas and thought processes
to be followed for successful implementation.
Rapidly taking off in the UK and Europe is the widening open standard and
the true reality of convergence. Well instated in the US, module 3B will
provide unique insights into Washington developments and how a complex
interoperable system can heighten the security protection of one of the most
high-risk cities in the world.
The final module on day three will look at the cutting-edge security
developments including biometrics and video analytics.
UBM Conferences
Louise Challis of UBM Conferences, louise.challis@ubm.com, +44(0)20-7955-3921
Canadian Pacific and IBM Sign a Five-Year Services Agreement
TORONTO, April 30 /PRNewswire-FirstCall/ -- IBM has signed a five-year renewal with Canadian Pacific (TSX/NYSE: CP) to provide strategic outsourcing services. This current infrastructure agreement includes mainframe, database, architecture and project management services.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO)
IBM will continue to operate the information technology infrastructure for the Calgary, Alberta-based railway. This renewal provides CP with effective cost management while improving services to customers.
"With the current economic situation, there is a growing need to build smarter transportation systems around the world," said Saad Toma, general manager, Global Technology Services, IBM Canada. "IBM will continue helping Canadian Pacific optimize technology to reduce operational costs and to improve fluidity of rail shipments."
The new contract, signed on February 18, 2009, is an extension of the original agreement from 2003. The renewal demonstrates a commitment by both organizations to service excellence and a long-term partnership.
About Canadian Pacific
Canadian Pacific, through the ingenuity of its employees located across Canada and in the United States, remains committed to being the safest, most fluid railway in North America. Our people are the key to delivering innovative transportation solutions to our customers and to ensuring the safe operation of our trains through the more than 900 communities where we operate. Come and visit us at http://www.cpr.ca/ to see how we can put our ingenuity to work for you. Canadian Pacific is proud to be the official rail freight services provider for the Vancouver 2010 Olympic and Paralympic Winter Games.
About IBM
IBM is building smart transportation systems around the world to help cities manage traffic congestion, improve urban environmental conditions and increase economic competitiveness. IBM is well positioned to win these projects as they demand a unique set of products, skills and services. IBM researchers and consultants have already built smart traffic and transportation systems in Stockholm, Brisbane, Singapore, Dublin, London and other cities around the world (http://www.ibm.com/think). For more information on IBM Services, visit http://www.ibm.com/services.
Media Contacts:
Mike Lovecchio
Canadian Pacific Media Relations
778 772-9636
24/7 Media Pager: 416 814-0948
mike_lovecchio@cpr.ca
Mike Boden
IBM Media Relations
416-478-7117
mboden@ca.ibm.com
Jenna Gable
IBM Media Relations
917-472-3512
gablej@us.ibm.com
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IBM
CONTACT: Media, Mike Lovecchio, Canadian Pacific Media Relations, +1-778-772-9636, or 24/7 Media Pager, +1-416-814-0948, mike_lovecchio@cpr.ca; or Mike Boden, IBM Media Relations, +1-416-478-7117, mboden@ca.ibm.com, or Jenna Gable, IBM Media Relations, +1-917-472-3512, gablej@us.ibm.com
Web Site: http://www.ibm.com/
Demand Management, Inc. Announces New Product: Demand Solutions Advanced Planning & Scheduling
ST. LOUIS, April 30 /PRNewswire/ -- Demand Management, Inc., a global resource for managing the supply chain for small and midsized enterprises, today announced its new product Demand Solutions Advanced Planning & Scheduling.
Demand Solutions Advanced Planning & Scheduling offers customers comprehensive manufacturing planning and scheduling capabilities and is integrated to its Forecast Management, Collaboration, Requirements Planning and Sales & Operations Planning solutions.
Demand Solutions Advanced Planning and Scheduling enables the following processes:
-- Material Planning
-- Finite Scheduling
-- Capacity Planning
-- Shop Floor Scheduling
By enabling these processes, companies have seen dramatic improvements in the following metrics:
-- Reduced Production cycle times
-- Improved machine utilization
-- Reduced inventories
-- Increased on-time deliveries
-- Reduced cash-to-cash and order-to-cash cycle times
-- Reduced customer stock-outs
Demand Management offers essential professional services to insure successful implementation of Demand Solutions Advanced Planning and Scheduling.
"The Demand Solutions product suite is truly an end-to-end supply and demand planning solution with the addition of Advanced Planning & Scheduling. Demand Solutions Advanced Planning and Scheduling allows our customers to realistically plan and schedule production based on capacity and material constraints," said Demand Management president Bill Harrison.
About Demand Management, Inc.
Demand Management, Inc. (DMI) is a global resource for software, support, services and training for maximizing profits in manufacturing, distribution and retail operations. More global supply chains depend on DMI's Demand Solutions than any other system for forecasting, demand planning and point-of-sale analysis. For more information on DMI, visit demandsolutions.com. Demand Management is a wholly owned subsidiary of Logility, Inc. , which is a majority owned subsidiary of American Software .
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions; technology and the market for the Company's products and services including economic conditions within the e-commerce markets; the timely availability and market acceptance of these products and services; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's Form 10-K for the year ended April 30, 2008 and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information about risks the Company could face as well as other information, contact Vincent C. Klinges, Chief Financial Officer, Logility, Inc., 470 East Paces Ferry Rd., Atlanta, GA 30305, (404) 261-9777.
FAX: (404) 264-5206 INTERNET: http://www.logility.com/ or E-mail asklogility@logility.com. All trademarks are properties of their respective owners.
Demand Management, Inc.
CONTACT: Amanda Conner of Demand Management, Inc., +1-314-333-5921, aconner@demandsolutions.com
Web Site: http://www.logility.com/
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