Companies news of 2009-09-01 (page 11)
Basic Energy Services to Present at the Barclays 2009 CEO Energy/Power Conference
Vanguard Natural Resources Announces Increased Borrowing Base and Amended Credit Agreement
Alon USA to Present at the Barclays 2009 CEO Energy/Power Conference
China Energy Recovery to Present at Rodman & Renshaw Annual Global Investment Conference
Gray Television, Inc. Launches 27 iPhone(TM)/iPod Touch(R) Apps in the Apple(R) App Store
Surgient Uses Isilon IQ to Power Virtual Data CenterSelf-Service Provisioning Leader Uses...
Rajeev Suri Appointed Chief Executive Officer of Nokia Siemens Networks; Simon...
Comarco Announces Fiscal 2010 Second Quarter Results Release and Conference Call Date
J.P. Morgan Launches Third-Party Clearing for SmartPool and Arca Europe Trading Platforms
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Volvo to Offer 3-Month Sirius Introductory Trial on All Sirius-Equipped Certified...
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Amerigon Subsidiary BSST to Test Thermoelectric Waste Heat Recovery System on BMW Group...
Clarient to Present at Upcoming Investment Conferences in New York City
Korn/Ferry Institute Announces New Team Effectiveness Book- Latest Edition Incorporates...
Sarhan Live(TM) and the Sarhan Analysis Announces 'Buy' Rating on MDOR, Starts Coverage,...
China Medical Technologies Reports FY2009 First Fiscal Quarter Unaudited Financial Results
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Dow Completes Divestiture of Ownership in TRN Refinery for Approximately $800 Million
Radware's AppDirector Achieves Oracle Validated Integration With Oracle(R) E-Business...
J.P. Morgan Launches Third-Party Clearing for SmartPool and Arca Europe Trading Platforms
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BB&D Group Selects Autonomy as Preferred Partner for Pan-Enterprise Search and High-End...
Dow Jones Introduces First Sanctions Data Feed Optimized for New International Payment...
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Basic Energy Services to Present at the Barclays 2009 CEO Energy/Power Conference
MIDLAND, Texas, Sept. 1 /PRNewswire-FirstCall/ -- Basic Energy Services, Inc. announced today that the Company will be presenting at the Barclays 2009 CEO Energy/Power Conference to be held in New York City on September 9 - 10, 2009.
Ken Huseman, the Company's President and Chief Executive Officer, is scheduled to present on Thursday, September 10, 2009, at 12:25 p.m. Eastern Time. The presentation will be broadcast live online in the Investor Relations section of Basic's website at http://www.basicenergyservices.com/. A replay will be available on the Company's website for approximately 30 days. Listeners should access the site at least 15 minutes prior to the presentation start time to register and, if necessary, download and install the required software.
Basic Energy Services provides well site services essential to maintaining production from the oil and gas wells within its operating area. The company employs more than 3,800 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain States.
Additional information on Basic Energy Services is available on the Company's website at http://basicenergyservices.com/ .
Safe Harbor Statement:
Statements made during the presentation may include forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Basic has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including Basic's ability to successfully execute, manage and integrate acquisitions. While Basic makes these statements and projections in good faith, neither Basic nor its management can guarantee that the transactions will be consummated or that anticipated future results will be achieved. Basic assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Basic, whether as a result of new information, future events, or otherwise.
Contacts: Alan Krenek, Chief Financial Officer
Basic Energy Services, Inc.
432-620-5510
Jack Lascar/Sheila Stuewe
DRG&E / 713-529-6600
Basic Energy Services, Inc.
CONTACT: Alan Krenek, Chief Financial Officer of Basic Energy Services, Inc., +1-432-620-5510; or Jack Lascar or Sheila Stuewe, both of DRG&E, +1-713-529-6600, for Basic Energy Services, Inc.
Web Site: http://basicenergyservices.com/
Vanguard Natural Resources Announces Increased Borrowing Base and Amended Credit Agreement
HOUSTON, Sept. 1 /PRNewswire-FirstCall/ -- Vanguard Natural Resources, LLC ("the Company") today reported that the borrowing base on its reserve-based credit facility has been increased to $175 million from the previous $154 million as a result of pledging additional natural gas and oil assets associated with its recent South Texas acquisition from Lewis Energy. Under its newly amended agreement, the Company currently has $46 million of borrowing capacity. This second amended agreement also includes two new lenders and extends the maturity date of the credit facility to October 1, 2012. Borrowing costs, under the LIBOR interest rate option, increased from LIBOR plus 1.5% - 2.125% to LIBOR plus 2.25% - 3.0%, depending on the amount borrowed under the facility. In addition, the debt-to-EBITDA covenant was reduced to 3.5x from 4.0x.
Mr. Richard Robert, Executive Vice President and CFO, said, "We are pleased to have this amended agreement in place and appreciate the support of our expanded bank group. Following our acquisition of additional properties in South Texas, effective July 1, 2009, we had anticipated an increase in our borrowing base and available borrowing capacity."
Mr. Robert added, "In order to protect the acquisition economics of the recent South Texas purchase, we added natural gas hedge positions upon execution of the purchase and sale agreement and assumed additional natural gas hedge positions at closing. Inclusive of the recent hedges added to our portfolio, we have a significant portion of our expected natural gas and oil production hedged at a weighted average floor price of $8.18 per mmbtu and $86.55 per barrel through 2011. Our hedging program provides us more than enough cash flow to meet our anticipated capital expenditures, debt service requirements and distributions. Although our amended credit facility expands our borrowing capacity, absent additional acquisitions, it is our intent to continue to use excess cash flow to reduce our outstanding debt."
About Vanguard Natural Resources, LLC
Vanguard Natural Resources, LLC is a publicly traded limited liability company focused on the acquisition, production and development of natural gas and oil properties. The Company's assets consist primarily of producing and non-producing natural gas and oil reserves located in the southern portion of the Appalachian Basin, the Permian Basin and South Texas. More information on the Company can be found at http://www.vnrllc.com/.
Forward-Looking Statements
We make statements in this news release that are considered forward-looking statements within the meaning of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management's assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this news release are not guarantees of future performance, and we cannot assure you that such statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to factors listed in the "Risk Factors" section in our SEC filings and elsewhere in those filings. All forward-looking statements speak only as of the date of this news release. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.
CONTACT: Vanguard Natural Resources, LLC
Investor Relations
Richard Robert, EVP and CFO, 832-327-2258
DRG&E
Jack Lascar/Carol Coale, 713-529-6600
Vanguard Natural Resources, LLC
CONTACT: Investor Relations, Richard Robert, EVP and CFO of Vanguard Natural Resources, LLC, +1-832-327-2258; or Jack Lascar or Carol Coale, both of DRG&E, +1-713-529-6600, for Vanguard Natural Resources, LLC
Web Site: http://www.vnrllc.com/
Alon USA to Present at the Barclays 2009 CEO Energy/Power Conference
DALLAS, Sept. 1 /PRNewswire-FirstCall/ -- Alon USA Energy, Inc. ("Alon") today announced that the Company will be presenting at the Barclays 2009 CEO Energy/Power Conference to be held in New York City on September 9 - 10, 2009.
Jeff Morris, Alon's President and Chief Executive Officer, is scheduled to present on Wednesday, September 9, 2009 at 3:05 p.m. Eastern Time. A live broadcast of the presentation will be available online in the Investor Relations section of the Company's website at http://www.alonusa.com/. A replay of this presentation will be available at http://www.alonusa.com/ for approximately 30 days.
Alon USA Energy, Inc., headquartered in Dallas, Texas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company owns four crude oil refineries in Texas, California, Louisiana and Oregon, with an aggregate crude oil throughput capacity of approximately 250,000 barrels per day. Alon markets gasoline and diesel products under the FINA brand name and is a leading producer of asphalt. Alon also operates more than 300 convenience stores primarily in West Texas and New Mexico substantially under the 7-Eleven and FINA brand names and supplies motor fuels to these stores primarily from its Big Spring refinery. In addition, Alon markets under the FINA branded name to approximately 700 additional locations.
Contacts: Claire A. Hart, Senior Vice President
Alon USA Energy, Inc.
972-367-3649
Investors: Jack Lascar/Sheila Stuewe
DRG&E / 713-529-6600
Media: Blake Lewis
Lewis Public Relations
214-635-3020
Ruth Sheetrit
SMG Public Relations
011-972-547-555551
Alon USA Energy, Inc.
CONTACT: Claire A. Hart, Senior Vice President of Alon USA Energy, Inc., +1-972-367-3649; or investors, Jack Lascar or Sheila Stuewe, both of DRG&E, +1-713-529-6600; or media, Blake Lewis of Lewis Public Relations, +1-214-635-3020; or Ruth Sheetrit of SMG Public Relations, 011-972-547-555551, all for Alon USA Energy, Inc.
Web Site: http://www.alonusa.com/
China Energy Recovery to Present at Rodman & Renshaw Annual Global Investment Conference
SHANGHAI, Sept. 1 /PRNewswire-Asia/ -- China Energy Recovery, Inc. (BULLETIN BOARD: CGYV) (ISIN: US16943V2060; "CER"), a leader in the waste heat energy recovery sector of the industrial energy efficiency industry, today announced that the company will present at the Rodman & Renshaw Annual Global Investment Conference on September 10, 2009. The conference will be held during September 9-11, 2009, at the New York Palace Hotel in New York. The presentation is scheduled for Thursday, September 10, 2009, at 8:45 AM Eastern Time, in Louis Salon (4th Floor).
Members of the company's management team will be available for one-on-one meetings with investors. For additional information or to schedule a one-on-one meeting with China Energy Recovery Inc. at this conference, please contact the company at +86-21-5556-0020 or ir@haie.com.
What is Waste Heat Energy Recovery?
Industrial facilities release significant amounts of excess heat into the atmosphere in the form of hot exhaust gases or high-pressure steam. Energy recovery is the process of recovering vast amounts of that wasted energy and converting it into usable heat energy or electricity, dramatically lowering energy costs. Energy recovery systems are also capable of capturing harmful pollutants that would otherwise be released into the environment. It is estimated that if energy currently wasted by all the U.S. industrial facilities could be recovered, it could produce power equivalent to 20% of U.S. electricity generation capacity without burning any additional fossil fuel, and could help many industries to meet stringent environmental regulations.
About China Energy Recovery, Inc.
CER is an international leader in designing, manufacturing and installing waste heat energy recovery systems which provide facilities with greater energy efficiency. The company's primary focus is on the Chinese market. CER's technology captures industrial waste energy to produce low-cost electrical power, enabling industrial manufacturers to reduce their energy costs, shrink their emissions footprint, and generate sellable emissions credits. CER has deployed its systems throughout China and in such international markets as Egypt, Korea, Vietnam and Malaysia. CER focuses on numerous industries in which a rapid payback on invested capital is achieved by its customers, including: chemical, paper manufacturing, refining (including methanol refining), etc. CER continues to invest in R&D and plans to build China's first state-of-the-art energy recovery system research and fabrication facility to allow it to meet the increased demand for its products and services. For more information on CER, please visit: http://www.chinaenergyrecovery.com/s/Home.asp . Information on CER's website does not comprise a part of this press release.
Forward-Looking Statement Disclaimer
This press release includes "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that CER believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors that CER believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of CER and may not materialize, including, without limitation, the efficacy and market acceptance of CER's products and services, CER's ability to execute on its business plan and strategies and CER's ability to successfully complete orders and collect revenues therefrom. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors. Furthermore, CER does not intend (and is not obligated) to update publicly any forward-looking statements, except as required by law. The contents of this release should be considered in conjunction with the warnings and cautionary statements contained in CER's filings with the Securities and Exchange Commission, including CER's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2009.
For more information, please contact:
Cindy Cheng
Tel: +86-21-5556-0020 x503
Email: ir@haie.com
China Energy Recovery, Inc.
CONTACT: Cindy Cheng, +86-21-5556-0020 x503, ir@haie.com
Gray Television, Inc. Launches 27 iPhone(TM)/iPod Touch(R) Apps in the Apple(R) App Store
ATLANTA, Sept. 1 /PRNewswire-FirstCall/ -- Gray Television, Inc. today announced that one full month following the launch of 27 local news iPhone(TM) Apps over 12,500 Apps have been downloaded.
Gray Television, Inc. has partnered with Inergize Digital and DoApp to bring Mobile Local News(TM) to its local television markets. Mobile Local News is an iPhone(TM) and iPod touch application that distributes locally branded news, geo-location based weather, sports, politics, entertainment and other station branded content to consumer iPhone and iPod touch mobile digital devices. Local video content and local weather radars and maps have made their way to the Gray iPhone apps just last week. Multi-connection video support is included for the EDGE Network, 3G and WiFi, providing automatic video adjustment for an enhanced viewing experience.
"The launch of our local news apps is another way in which we're expanding our mobile strategy. Not only are we finding more ways to reach our users we're also finding new ways to leverage these platforms to be valuable revenue opportunities for us," said Lisa Bishop, Vice President Internet Operations & New Media at Gray Television, Inc.
Inergize Digital and DoApp leverage the latest mobile technologies to provide a superior user experience in Mobile Local News. With their new, patent-pending navigation system, media companies dynamically add and remove navigation categories and subcategories directly from the user friendly Web interface. Media companies can also control content by adding and removing sections that are seasonal or relevant for specific times of the year.
About Mobile Local News
Mobile Local News is the complete mobile distribution solution for local media companies. With a fully customizable user interface; industry-leading navigation technology; video playback in EDGE, 3G and WiFi networks; geo-location based weather and advertising; superior content coverage; one-click sharing by text message, e-mail, Twitter and Facebook ; and the industry's only geo-located local ad serving, Mobile Local News is uniquely positioned to keep consumers engaged anywhere at any time with complete monetization for local media companies. To learn more about Mobile Local News, visit http://www.mobilelocalnews.com/.
About Gray Television, Inc.
Gray Television, Inc. (http://www.gray.tv/) currently operates 36 television stations serving 30 markets. Each of the stations are affiliated with either CBS (17 stations), NBC (10 stations), ABC (8 stations) or FOX (1 station). In addition, Gray currently operates 38 digital second channels including 1 ABC, 4 Fox, 7 CW, 16 MyNetworkTV, 1 Universal Sports Network, plus 8 local news/weather channels and 1 "independent" channel in certain of our existing markets.
About Inergize Digital
Inergize Digital is the leader in fully integrated digital management solutions that generate revenue for local media companies. The Company's Content Management System leverages the power of video, mobile distribution, e-mail and syndication delivery, online directories as well as advertising leadership in contests and gaming to create profitable Web sites and campaigns for local television, radio, newspaper, magazine and other media companies. E.W. Scripps, Four Points Media, Liberty Media, Newport Television and New Vision Television Group, among others, rely on Inergize Digital to position their Web sites as the number one source of local information. For more information, visit http://www.inergizedigital.com/ or call (952) 417-3294.
About DoApp
DoApp Inc. (http://www.doapps.com/) is a development company of both consumer and business applications (apps) for Web sites, desktops and mobile devices. The Company focuses on making apps "cool" and easy-to-use. The DoApp product portfolio encompasses mobile entertainment, productivity apps and lifestyle apps. The Company is based out of Minnesota with teams in Rochester and Minneapolis. DoApp Inc. is an approved member of the Apple iPhone developer program. Their application portfolio included two applications that made Apple's 2008 list of most popular applications.
Gray Television, Inc.
CONTACT: Bob Prather, President and Chief Operating Officer, +1-404-266-8333; Lisa Bishop, Vice President Internet Operations & New Media, +1-630-653-2731, both of Gray Television
Web Site: http://www.gray.tv/
Surgient Uses Isilon IQ to Power Virtual Data CenterSelf-Service Provisioning Leader Uses Isilon Scale-out NAS to Power Thousands of Virtual Machines, Maximizing Efficiency and Performance of Dynamic Virtualized Computing Environment
SEATTLE, Sept. 1 /PRNewswire-FirstCall/ -- Isilon Systems , the proven leader in scale-out NAS, today announced that Surgient, the leading provider of self-service provisioning solutions for dynamic data centers, is using Isilon IQ as the primary storage solution for its award-winning Surgient Virtual Automation Platform(TM). Using Isilon scale-out NAS, Surgient has overcome the costly data fragmentation challenges associated with deploying traditional NAS and SAN in virtualized environments by unifying thousands of virtual servers onto a single, high-performance, highly scalable, shared pool of storage. With Isilon IQ, featuring its OneFS operating system, Surgient has maximized the performance and value of its virtual data center, while requiring less than half of one full-time equivalent (FTE) to manage the entire solution.
"We operate a highly virtualized data center with a broad range of data-intensive applications, so we need a storage solution that can seamlessly scale both performance and capacity," said Evan Watkins, director of operations and quality assurance, Surgient. "We can't afford to waste valuable resources on the complex data migration necessary with traditional storage in virtualized data centers. With Isilon, we've dramatically simplified and accelerated our workflow, enabling us to instantaneously respond to customer demand, while growing our business to acquire new customers at a more rapid pace."
By deploying Isilon scale-out NAS, Surgient has unified its entire data center onto a single file system capable of up to 5 petabytes (PB) of capacity, 1.7 million IOPS of performance, 45 Gigabytes per second (GBps) of aggregate throughput and industry-leading utilization of more than 80 percent. With its IT virtualization and resource automation services consolidated onto a single file system, Surgient has eliminated the data fragmentation and scalability limitations caused by traditional NAS system, streamlining its workflow to maximize operational efficiency. Additionally, Isilon's unique ability to linearly or independently scale performance and capacity enables Surgient to purchase only the storage they need, while retaining the flexibility to grow their storage system on-demand, resulting in significant cost-savings and optimal business agility.
"It is no longer a question of 'if' enterprise businesses will adopt IT virtualization strategies, but 'when'," said Ram Appalaraju, vice president of marketing, Isilon Systems. "However, IT virtualization creates data-intensive usage demands that are simply too much for traditional storage systems to effectively manage. With Isilon IQ, virtualization leaders like Surgient can deploy a dynamic, powerful storage solution to dramatically reduce CAPEX and OPEX, while enabling their IT infrastructure to support highly virtualized environments."
The Surgient Virtual Automation Platform provides advanced virtualization and private cloud capabilities, automating the delivery of complex IT services to its enterprise customers. Prior to using Isilon IQ, Surgient's traditional NAS system could not scale performance or capacity to meet workflow demands, resulting in data fragmentation that created an unnecessarily costly and complex IT environment. The limitations of Surgient's previous NAS system created disparate data silos and hindered system performance, slowing resource allocation for its hosted customers.
About Isilon Systems
Isilon Systems is the proven leader in scale-out NAS. Isilon's clustered storage and data management solutions drive unique business value for customers by maximizing the performance of their mission-critical applications, workflows, and processes. Isilon enables enterprises and research organizations worldwide to manage large and rapidly growing amounts of file-based data in a highly scalable, easy-to-manage, and cost-effective way. Information about Isilon can be found at http://www.isilon.com/.
About Surgient
Surgient, the leader in self-service data center enablement, leverages leading virtualization and systems management technologies to automate the deployment and management of complex IT services. Through a patented self-service approach, administrators and users access resource pools on-demand and through guaranteed reservations. With support for mixed virtual/physical environments and seamless scaling from the department to the enterprise, Surgient drives substantial business savings.
The Surgient Virtual Automation Platform(TM) enables enterprise IT organizations and service providers to optimize and manage infrastructure, automate IT service deployment, and empower users with controlled self-service. Unlike solutions that require high administrative involvement and significant investment in script-based automation, Surgient's unique declarative service approach and policy-based self-management simplifies and accelerates the creation, deployment, and recovery of multi-tiered IT services with minimal administrative effort. Using Surgient to enable the self-service data center, world-class companies including IBM, Merck, Raymond James, HP, AHIMA, EMC, CA, Iron Mountain, GE, SAP, and Microsoft are reducing capital costs, increasing operational efficiency, improving compliance, and driving overall business agility.
The names of companies mentioned herein are the trademarks of their respective owners.
Isilon Systems
CONTACT: Lucas Welch of Isilon Systems, +1-206-315-7621, lucas.welch@isilon.com; or James McIntyre of McClenahan Bruer Communications, +1-503-546-1016, james@mcbru.com, for Isilon Systems
Web Site: http://www.isilon.com/
Rajeev Suri Appointed Chief Executive Officer of Nokia Siemens Networks; Simon Beresford-Wylie to Step Down After Successfully Leading the Company's Integration
ESPOO, Finland, September 1 /PRNewswire-FirstCall/ -- The Nokia Siemens Networks Board of Directors has appointed Rajeev Suri as Chief Executive Officer, effective October 1, 2009. Suri succeeds Simon Beresford-Wylie, who will support Suri during a transition period through November 1, 2009 before leaving the company. Beresford-Wylie will leave the Nokia Group Executive Board as of September 30, 2009. Suri will be based at Nokia Siemens Networks' headquarters in Espoo, Finland.
"I am extremely pleased to announce Rajeev's appointment as Chief Executive Officer of Nokia Siemens Networks," said Olli-Pekka Kallasvuo, Nokia CEO and Chairman of the Board of Directors of Nokia Siemens Networks. "We began a comprehensive succession process when Simon shared his desire to depart at the appropriate time. That process has made it clear that Rajeev brings the right values, experience and industry expertise to take Nokia Siemens Networks forward."
Suri, who currently leads the Services business of Nokia Siemens Networks, brings 20 years of experience in the telecommunications industry to the role of Chief Executive Officer. Previous positions have included leading the Asia-Pacific region during a time of significant growth in both product and service sales; overseeing teams for important customers such as Hutchison; and managing products, such as the early cellular transmission portfolio of Nokia. In previous roles, he has been based in various locations including India, Finland, the United Kingdom, West Africa and Singapore. Suri, 41, is an Indian citizen and is married with two children.
"I would also like to thank Simon for his many contributions to Nokia Siemens Networks and to Nokia before that," said Kallasvuo. "I respect his decision to pursue opportunities in a new industry after 27 years in the telecommunications infrastructure sector. He leaves a remarkable legacy as the architect of Nokia Siemens Networks and as a close friend."
Beresford-Wylie joined Nokia in 1998 and held several positions in Asia and Europe before his appointment to head Nokia's infrastructure business group in February 2005. He was one of the leading drivers behind the creation of Nokia Siemens Networks and assumed the position of Chief Executive Officer of the company when it commenced operations on April 1, 2007. He has been a member of the Nokia Group Executive Board since 2005.
"Simon leaves with our deep appreciation for completing the successful integration of Nokia Siemens Networks," said Rudi Lamprecht, Vice Chairman of the Board of Directors of Nokia Siemens Networks. "Rajeev takes on the role of CEO as a proven leader who has most recently demonstrated his abilities with the transformation of Nokia Siemens Networks' Services business. His deep experience in customer-facing and product-related roles makes him an ideal leader for the company."
Note to editors:
Bios and photographs of Simon Beresford-Wylie and Rajeev Suri are available at:
http://www.nokiasiemensnetworks.com/global/Press/Materials/Management/Lea dership+Team.htm?languagecode=en
(Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.)
About Nokia
Nokia is a pioneer in mobile telecommunications and the world's leading maker of mobile devices. Today, we are connecting people in new and different ways - fusing advanced mobile technology with personalized services to enable people to stay close to what matters to them. We also provide comprehensive digital map information through NAVTEQ; and equipment, solutions and services for communications networks through Nokia Siemens Networks.
About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services including consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland. http://www.nokiasiemensnetworks.com/
Engage in conversation about Nokia Siemens Networks' aim to reinvent the connected world at http://unite.nokiasiemensnetworks.com/ and talk about its news at http://blogs.nokiasiemensnetworks.com/
Find out if your country is exploiting the full potential of connectivity at http://connectivityscorecard.org/
http://www.nokia.com/
Nokia Corporation
CONTACT: Media Enquiries: Nokia Siemens Networks, Media Relations, Tel. +358-7180-31451, Email: mediarelations@nsn.com. Nokia, Communications, Tel. +358-7180-34900, Email: press.services@nokia.com
Comarco Announces Fiscal 2010 Second Quarter Results Release and Conference Call Date
LAKE FOREST, Calif., Sept. 1 /PRNewswire-FirstCall/ -- Comarco, Inc. announced today that it will release financial results for the second quarter of fiscal 2010 ended July 31, 2009, after the close of market on Thursday, September 10, 2009. The Company will host a conference call and webcast on Thursday, September 10, 2009 at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the fiscal second quarter results and provide an update on current corporate developments. The dial-in number for the conference call is 866-225-8754 for domestic participants and 480-629-9692 for international participants.
A taped replay of the conference call will also be available beginning approximately one hour after the call's conclusion and will remain available for seven days. It can be accessed by dialing 800-406-7325 for domestic callers and 303-590-3030 for international callers, both using passcode 4150015#. To access the live webcast of the call, visit Comarco's website at http://www.comarco.com/. An archived webcast will also be available at http://www.comarco.com/.
About Comarco
Based in Lake Forest, Calif., Comarco is a leading provider of innovative mobile power solutions through its ChargeSource line of multi-function universal mobile power products which can simultaneously power and charge multiple devices such as notebook computers, mobile phones, BlackBerry smartphones, iPods , and many other rechargeable mobile devices. More information about Comarco and its products can be found at http://www.comarco.com/ and http://www.chargesource.com/.
Comarco, Inc.
CONTACT: Company, Winston Hickman, Chief Financial Officer of Comarco, Inc., +1-949-599-7446, whickman@comarco.com; or Investors, Doug Sherk, dsherk@evcgroup.com, or Jenifer Kirtland, jkirtland@evcgroup.com, both of EVC Group, Inc., +1-415-896-6820, for Comarco, Inc.
Web Site: http://www.comarco.com/
J.P. Morgan Launches Third-Party Clearing for SmartPool and Arca Europe Trading Platforms
LONDON, September 1 /PRNewswire/ -- J.P. Morgan announced today that its GlobeClear(SM) business has been
offering third party clearing and settlement services for trades executed on
the SmartPool and NYSE Arca Europe trading platforms.
SmartPool Trading Limited is a pan-European Multilateral Trading Facility
(MTF) and dark liquidity pool covering 15 markets. It was created by NYSE
Euronext in partnership with J.P. Morgan, HSBC and BNP Paribas. NYSE Arca
Europe, another pan-European MTF, fully integrated with NYSE Euronext,
provides access to the most liquid securities across 11 markets.
With this service extension, J.P. Morgan's GlobeClear now supports 29
trading venues, including five MTFs, three of which are cleared through
EuroCCP and/or LCH Clearnet SA as central counterparties. As a result,
clients wishing to trade on these MTFs can opt in for cross-platform netting
enabling them to further reduce their net settlement cost.
Kelly Mathieson, global head of clearance and collateral management for
J.P. Morgan Worldwide Securities Services, said: "Supporting investors on
these trading platforms is in line with GlobeClear's strategy to further
expand its clearing and settlement offering, providing our clients with
quick, pan- European access to several trading platforms through a single
global window. Through GlobeClear, clients benefit from a wide market
coverage, both off and on-exchange, at low cost."
For more information on J.P. Morgan's GlobeClear, please visit
http://www.jpmorgan.com/globeclear.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities
servicing provider that helps institutional investors, alternative asset
managers, broker dealers and equity issuers optimize efficiency, mitigate
risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE:
JPM), WSS leverages the firm's unparalleled scale, leading technology and
deep industry expertise to service investments around the world. It has $13.7
trillion in assets under custody and $3.7 trillion in funds under
administration. For more information, go to
http://www.jpmorgan.com/visit/wss.
About J.P. Morgan Chase & Co.
J.P. Morgan Chase & Co. (NYSE: JPM), is a leading global financial
services firm with assets of $2.0 trillion and operations in more than 60
countries. The firm is a leader in investment banking, financial services for
consumers, small business and commercial banking, financial transaction
processing, asset management, and private equity. A component of the Dow
Jones Industrial Average, J.P. Morgan Chase & Co. serves millions of
consumers in the United States and many of the world's most prominent
corporate, institutional and government clients under its J.P. Morgan, Chase,
and Washington Mutual brands. Information about J.P. Morgan Chase & Co. is
available at http://www.jpmorganchase.com.
Media contact:
Juliana Wheeler, +44(0)207-325-5755, juliana.r.wheeler@jpmorgan.com
J.P. Morgan
Media contact: Juliana Wheeler, +44(0)207-325-5755, juliana.r.wheeler@jpmorgan.com
Photos: Americans Eager for Autumn Travel and Fall-ing Airfares84% Taking Leisure Trips This Fall and 69% Likely to Fly on a Whim for a Great Deal 30% Traveling for Labor Day Weekend; 70% to Drive
NEWTON, Mass., Sept. 1 /PRNewswire/ -- TripAdvisor , the world's most popular and largest travel community, today announced its fall and Labor Day travel survey of more than 2,400 U.S. travelers. Eighty-four percent of travelers plan to take leisure trips this fall, up from 82 percent one year ago, and 43 percent said they will be traveling more this autumn than last.
To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/tripadvisor/37973/
(Logo: http://www.newscom.com/cgi-bin/prnh/20080902/TRIPADVISORLOGO )
(Photo: http://www.newscom.com/cgi-bin/prnh/20090901/NY68763 )
(South) Carolina on My Mind
Below are the top 10 regions that the millions of travelers on TripAdvisor.com have been browsing in the past month, suggesting these may be some spectacular spots to see this fall.
Top 10 Most Browsed Regions on TripAdvisor in the Past Month
1. Coastal South Carolina
2. Jersey Shore
3. Florida Keys
4. Cape Cod
5. Southwest Gulf Coast
6. Florida Panhandle
7. Texas Gulf Coast
8. North Carolina Coast
9. Monterey Peninsula
10. Napa Valley
Sun-Shiny Airfares
Florida also looks to be a fall hotspot as five of the top 10 most-searched U.S. cities with airfares currently under $199 were in Florida.
Top 10 Most Searched Cities in August Currently with Airfares Under $199*
1. Orlando
2. Las Vegas
3. Fort Lauderdale
4. Tampa
5. Miami
6. Atlanta
7. New York
8. Denver
9. Fort Myers
10. Boston
Deal Me In
Sixty-nine percent of survey respondents said they are likely to take a spontaneous trip this fall if they found a great deal on a flight. Thirty-one percent said they'll probably book a trip this fall due to some of the great flights deals currently available, and 11 percent said they will definitely book a trip as a result of the recent favorable pricing. Thirty-three percent are putting off making fall travel plans until they find the right deal.
Laboring On
Thirty percent of respondents said they are traveling this coming Labor Day weekend, nearly equal to 31 percent one year ago. Seventy percent of travelers expect to drive to their destinations this Labor Day and 49 percent plan to travel more than 300 miles for the holiday.
Travelers Taking Two
The greatest percentage of travelers (42 percent) said they are planning two leisure trips this fall, and 32 percent said they are planning one leisure trip for the coming season.
Dollars and Sense
Thirty-eight percent of travelers said they'll spend more on their leisure travel this fall than last, while 44 percent said they expect to spend the same amount as a year ago.
Saving Grace
The number one way travelers plan to save money on their leisure travel this fall is by spending more time researching travel deals in advance, according to 45 percent. Thirty percent plan to save by eating at less expensive restaurants, 29 percent will save by staying with family, and 26 percent will visit free attractions.
Show Me the Maple
When asked what fall activities they will do this year, the most popular choice (44 percent) was viewing fall foliage. Here are the top five fall activities, according to the survey:
Top Five Fall Activities
1. View colorful fall foliage- 44%
2. Visit a state/county fair or fall festival- 28%
3. Go wine tasting/visit a vineyard- 26%
4. Go to a football game- 23%
5. Visit a beer festival/Oktoberfest- 14%
Other Fall Travel Tidbits
-- Twelve percent of travelers think the new airline passenger Bill of
Rights will make them more likely to fly this fall.
-- Fourteen percent think the H1N1 virus could affect their fall travel
plans.
-- Twenty-two percent think hurricane season could affect their fall
travel plans.
"Travelers are clearly excited about some great deals on flights this fall and sound ready to jump when the price is right," said Christine Petersen, chief marketing officer for TripAdvisor. "Based on what travelers are researching on TripAdvisor recently, it appears the Carolinas and Florida may be travel hot spots this fall."
*Reflects fares since August 1, 2009. Fares to these destinations from multiple origins in the U.S.
About TripAdvisor Media Network
TripAdvisor Media Network, operated by TripAdvisor, LLC, attracts more than 36 million monthly visitors* across 15 popular travel brands: TripAdvisor , http://www.airfarewatchdog.com/, http://www.bookingbuddy.com/, http://www.cruisecritic.com/, http://www.familyvacationcritic.com/, http://www.flipkey.com/, http://www.frequentflier.com/, http://www.holidaywatchdog.com/, http://www.independenttraveler.com/, http://www.onetime.com/, http://www.seatguru.com/, http://www.smartertravel.com/, http://www.travel-library.com/, http://www.travelpod.com/ and http://www.virtualtourist.com/. TripAdvisor-branded sites make up the largest travel community in the world, with more than 25 million monthly visitors*, 11 million registered members and 25 million reviews and opinions. Featuring real advice from real travelers, TripAdvisor-branded sites cover more than one million destinations, hotels, restaurants and attractions and operate in the U.S. (http://www.tripadvisor.com/), the U.K. (http://www.tripadvisor.co.uk/), Ireland (http://www.tripadvisor.ie/), France (http://www.tripadvisor.fr/), Germany (http://www.tripadvisor.de/), Italy (http://www.tripadvisor.it/), Spain (http://www.tripadvisor.es/), India (http://www.tripadvisor.in/), Japan (http://www.tripadvisor.jp/), Portugal and Brazil (http://www.tripadvisor.com.br/), Sweden (http://www.tripadvisor.se/), and The Netherlands (http://nl.tripadvisor.com/). TripAdvisor also operates in China under the brand daodao.com (http://www.daodao.com/). TripAdvisor Media Network provides travel suppliers with graphical advertising opportunities and a cost-per-click marketing platform. Collectively, the sites comprising the TripAdvisor Media Network have won hundreds of awards and accolades from press and industry worldwide. TripAdvisor and the sites comprising the TripAdvisor Media Network are operating companies of Expedia, Inc. .
TripAdvisor and the TripAdvisor logo are registered trademarks of TripAdvisor LLC in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.
2009 TripAdvisor LLC. All rights reserved.
*Source: comScore Media Metrix, July 2009
Photo: http://www.newscom.com/cgi-bin/prnh/20090901/NY68763 http://www.newscom.com/cgi-bin/prnh/20080902/TRIPADVISORLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com PRN Photo Desk, photodesk@prnewswire.com
Video: http://www.prnewswire.com/mnr/tripadvisor/37973
TripAdvisor
CONTACT: Brooke Ferencsik of TripAdvisor, +1-617-670-6575, bferencsik@tripadvisor.com
Web Site: http://www.tripadvisor.com/
Volvo to Offer 3-Month Sirius Introductory Trial on All Sirius-Equipped Certified Pre-Owned Vehicles
NEW YORK, Sept. 1 /PRNewswire-FirstCall/ -- SIRIUS XM Radio today announced Volvo customers will receive an introductory 3-month trial subscription of the "SIRIUS Everything" package with the purchase of SIRIUS-equipped certified pre-owned Volvo vehicles sold in the U.S.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO )
The 3-month trial of SIRIUS offered by Volvo is available on all SIRIUS-equipped Volvo certified pre-owned vehicles sold after September 1, 2009.
"The addition of SIRIUS enhances our already 'Best in Class' Certified Pre-owned program offer," said Volvo Commercial Sales Manager, Scott Doering. "Volvo prides itself in always providing the best experience on the road for Volvo drivers, so it's only logical that we offer buyers of SIRIUS-equipped certified pre-owned Volvo vehicles the opportunity to hear SIRIUS' unparalleled programming."
"We are delighted to expand our relationship with Volvo to offer SIRIUS to drivers of certified pre-owned Volvo vehicles," said Doug Pergament, Vice President, Automotive, SIRIUS XM Radio. "We look forward to continuing to deliver our critically-acclaimed sports, news, talk, entertainment and 100% commercial-free music programming to Volvo customers."
A 6-month trial offer of the "SIRIUS Everything" package is available on all new SIRIUS-equipped Volvo vehicles for Model Year 2010. SIRIUS is also a standard feature on the new XC60 and S80 V8.
For more information on SIRIUS, please visit http://www.sirius.com/.
About SIRIUS XM Radio
SIRIUS XM Radio is America's satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.
SIRIUS XM Radio has content relationships with an array of personalities and artists, including Howard Stern, Martha Stewart, Oprah Winfrey, Jimmy Buffett, Jamie Foxx, Barbara Walters, Opie & Anthony, Bubba the Love Sponge , The Grateful Dead, Willie Nelson, Bob Dylan, Tom Petty, and Bob Edwards. SIRIUS XM Radio is the leader in sports programming as the Official Satellite Radio Partner of the NFL, Major League Baseball , NASCAR , NBA, NHL , and PGA TOUR , and broadcasts major college sports.
SIRIUS XM Radio has arrangements with every major automaker. SIRIUS XM Radio products are available at shop.sirius.com and shop.xmradio.com, and at retail locations nationwide, including Best Buy, RadioShack, Target, Sam's Club, and Wal-Mart.
SIRIUS XM Radio also offers SIRIUS Backseat TV, the first ever live in-vehicle rear seat entertainment featuring Nickelodeon, Disney Channel and Cartoon Network; XM NavTraffic service for GPS navigation systems delivers real-time traffic information, including accidents and road construction, for more than 80 North American markets.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving SIRIUS and XM, including potential synergies and cost savings and the timing thereof, future financial and operating results, the combined company's plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," " are expected to," "anticipate," "believe," "plan," "estimate," "intend," "will," "should," "may," or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of SIRIUS' and XM's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of SIRIUS and XM. Actual results may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statement: our substantial indebtedness; the businesses of SIRIUS and XM may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; the useful life of our satellites; our dependence upon automakers and other third parties; our competitive position versus other forms of audio and video entertainment; and general economic conditions. Additional factors that could cause SIRIUS' and XM's results to differ materially from those described in the forward-looking statements can be found in SIRIUS' Annual Report on Form 10-K for the year ended December 31, 2008 and XM's Annual Report on Form 10-K for the year ended December 31, 2008, which are filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov/). The information set forth herein speaks only as of the date hereof, and SIRIUS and XM disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
O-SIRI
Contact for SIRIUS XM Radio:
Sal Resendez
SIRIUS XM Radio
sal.resendez@siriusxm.com
646 313 2405
Photo: http://www.newscom.com/cgi-bin/prnh/20080819/NYTU044LOGO
SIRIUS XM Radio
CONTACT: Sal Resendez, SIRIUS XM Radio, +1-646-313-2405, sal.resendez@siriusxm.com
Web Site: http://www.sirius.com/
PreSCD II Registry Shows ICDs Lead to 44 Percent Reduction in Mortality for Heart Attack Survivors
NATICK, Mass. and BARCELONA, Sept. 1 /PRNewswire-FirstCall/ -- Boston Scientific Corporation today announced long-term data from the Prevention of Sudden Cardiac Death II registry (PreSCD II). The results found that implantable cardioverter defibrillators (ICDs) were associated with a 44 percent reduction in all cause mortality (p=0.053) when implanted in patients following myocardial infarction (heart attack). The mortality reduction trend was also observed in high-risk patients with severely reduced heart function. Analysis of the data was presented by Professor Heinz Voller, M.D., Klinikum am See, Ruedersdorf, Germany at the annual European Society of Cardiology (ESC) Congress in Barcelona.
Heart attack survivors have an increased risk for sudden cardiac death, and patients with impaired left ventricular function in particular benefit from protection by an ICD. Major clinical trials such as MADIT II suggest that ejection fraction -- a measure of the heart's pumping capacity -- should be used to characterize risk and determine which patients should receive an ICD. Data from PreSCD II revealed that within the highest risk subgroup (ejection fraction <= 30%), only 22 percent of patients were prescribed ICD therapy.
"The PreSCD II data provide real-world confirmation of the findings of randomized clinical trials that have shown ICDs reduce mortality following a heart attack," said Professor Voller. "In addition, PreSCD II confirms that actual ICD implantation rates for the highest risk subgroup were lower than those recommended by current guidelines and other study results. This is a significant concern because the mortality reduction associated with an ICD was greatest among these patients. We were also interested to observe a survival benefit that increased with the time interval between heart attack and ICD implantation."
The PreSCD II registry enrolled 10,612 heart attack survivors between 2002 and 2005 in 19 centers in Germany. It has been endorsed by the German Society of Cardiology and the German Society for Prevention and Rehabilitation.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com/.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding clinical trials, scientific activities, product performance, competitive offerings and growth investment. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and, future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A- Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file thereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.
CONTACT: Paul Donovan
508-650-8541 (office)
508-667-5165 (mobile)
Media Relations
Boston Scientific Corporation
David Knutson
651-260-8288 (mobile)
Media Relations
Boston Scientific Corporation
Larry Neumann
508-650-8696 (office)
Investor Relations
Boston Scientific Corporation
Boston Scientific Corporation
CONTACT: Paul Donovan, +1-508-650-8541 (office), +1-508-667-5165 (mobile), Media Relations, or David Knutson, +1-651-260-8288 (mobile), Media Relations, or Larry Neumann, +1-508-650-8696 (office), Investor Relations, all of Boston Scientific Corporation
Web Site: http://www.bostonscientific.com/
Amerigon Subsidiary BSST to Test Thermoelectric Waste Heat Recovery System on BMW Group and Ford VehiclesProject is Fifth Phase of U.S. Department of Energy Program to Improve Fuel Economy, Reduce Environmental Pollutants, Create New Source of Renewable Energy
NORTHVILLE, Mich., Sept. 1 /PRNewswire-FirstCall/ -- Amerigon Incorporated , a leader in developing and marketing products based on advanced thermoelectric (TE) technologies, today announced that its BSST subsidiary will install and test thermoelectric waste heat recovery generators in BMW Group and Ford vehicles in the newest phase of a U.S. Department of Energy (DOE)-funded program studying the use of thermoelectric systems to convert waste heat from automobile engine exhaust into electrical power. The program, which is being conducted by a team led by BSST, was created to improve automobile fuel economy and supports the DOE's objectives of reducing dependence on foreign energy imports and lowering greenhouse gas emissions while supporting the increased electrification of vehicle powertrains.
The DOE will contribute approximately $1.1 million in funding and BSST will contribute an additional $370,000 for this fifth phase of the project, which has a targeted completion date of March 31, 2010.
"This phase of the program is a critical step toward reaching our most immediate goal, which is to develop a cost-effective thermoelectric energy recovery system that can be successfully incorporated into vehicle production," said BSST President Lon E. Bell, Ph.D. "Ultimately, we want to create a commercially viable vehicle waste heat recovery and power generation system that will improve the efficiency of internal combustion engines. We believe the advances we have made in our thermoelectric technology are the vital keys to reaching those goals."
The DOE project represents another significant application for Amerigon's thermoelectric technology, said Amerigon President and Chief Executive Officer Daniel R. Coker.
"Our BSST subsidiary continues to advance the science of thermoelectric devices particularly as it applies to heating and cooling and power generation," Coker said. "This is one of several efforts BSST is involved in with government and private industry aimed at pushing the variety of uses for thermoelectric technology beyond our current automotive seating application. We look forward to announcing progress with this program and others in the coming months."
The first phase of the DOE program was launched in 2005 and BSST was chosen to lead the development team that included Visteon Corporation, BMW of North America, UC Santa Cruz, the DOE's National Renewable Energy Laboratory and the Jet Propulsion Laboratory of the California Institute of Technology.
The first phase consisted of a comprehensive analysis to determine the technical and commercial viability of the system concept. In phase 2, the team created a conceptual design of the system. In phase 3, Ford Motor Company joined the program and the team added more detail and specifications to the design by building and testing the subsystems on a bench using hot gas. As phase 4 nears completion, the team is integrating the complete thermoelectric system into a BMW inline six cylinder engine.
About BSST
BSST was founded in 2000, as a subsidiary of Amerigon, to develop advanced thermoelectric systems. BSST has developed and demonstrated the highest efficiency achieved with thermoelectric technology to date. BSST's mission is to provide highly efficient, effective, and practical solid-state temperature control and power generation solutions to industry, while continuing to advance the leading edge performance of its technology through sustained research and development. Joint development efforts with leaders in major application markets throughout the world aid in this process. Currently the advancements are being applied to electronic device cooling, home and automotive air conditioning and heating, and military and communications systems. BSST is also engaged in a variety of power generation and waste heat recovery projects with military and commercial entities.
About Amerigon
Amerigon develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications. The Company's current principal product is its proprietary Climate Control Seat (CCS ) system, a solid-state, TE-based system that permits drivers and passengers of vehicles to individually and actively control the heating and cooling of their respective seats to ensure maximum year-round comfort. CCS, which is the only system of its type on the market today, uses no CFCs or other environmentally sensitive coolants. Amerigon maintains sales and technical support centers in Southern California, Detroit, Japan, Germany, England and Korea.
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company's actual results to differ materially from its expectations in this release are risks that sales may not significantly increase, additional financing, if necessary, may not be available, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its common stock may be negatively affected by these and other factors. Please also refer to Amerigon's Securities and Exchange Commission filings and reports, including, but not limited to, its Form 10-Q for the period ended June 30, 2009, and its Form 10-K for the year ended December 31, 2008.
Contact: Allen & Caron Inc
Jill Bertotti (investors)
jill@allencaron.com
Len Hall (media)
len@allencaron.com
(949) 474-4300
Amerigon Incorporated
CONTACT: Investors, Jill Bertotti, jill@allencaron.com, or Media, Len Hall, len@allencaron.com, both of Allen & Caron Inc, +1-949-474-4300, for Amerigon Incorporated
Web Site: http://www.amerigon.com/
Clarient to Present at Upcoming Investment Conferences in New York City
ALISO VIEJO, Calif., Sept. 1 /PRNewswire-FirstCall/ -- Clarient, Inc. , a premier technology and services resource for pathologists, oncologists and the pharmaceutical industry, today announced that it is scheduled to make investor presentations at two upcoming investor conferences in New York City.
The first presentation will be made at the Rodman & Renshaw 11th Annual Healthcare Conference at 2:50 pm EDT on Wednesday, September 9. The conference is being held at the New York Palace Hotel.
The second presentation will be made at the Baird 2009 Health Care Conference at 2:15 pm EDT on Thursday, September 10. The conference is being held at the Four Seasons Hotel.
Live webcasts of the presentations will be available via a link provided at http://www.clarientinc.com/investor. Archived replays of the presentations will be available for a period of 90 days from the date of the each presentation.
About Clarient
Clarient combines innovative diagnostic technologies with world-class pathology expertise to assess and characterize cancer. Clarient's mission is to become the leader in cancer diagnostics by collaborating with the healthcare community to translate cancer research and development into better patient care. Clarient's principal customers include pathologists, oncologists, hospitals and biopharmaceutical companies. The rise of individualized medicine has created the need for a centralized resource which provides leading oncology diagnostic technologies, such as flow cytometry and molecular testing. Clarient is that resource, having created a state-of-the-art commercial cancer laboratory, which provides the most advanced oncology testing and diagnostic services available. Resulting diagnostic reports and analyses are made available to customers through Clarient's Internet-based portal, PATHSiTE(TM). Clarient also plans to develop and market new, proprietary "companion" diagnostic markers for therapeutics in breast, prostate, lung and colon cancers, and leukemia/lymphoma. http://www.clarientinc.com/
Investor Contact:
Matt Clawson
Allen & Caron Inc
(949) 474-4300
matt@allencaron.com
Clarient, Inc.
CONTACT: Investors, Matt Clawson of Allen & Caron Inc, +1-949-474-4300, matt@allencaron.com, for Clarient, Inc.
Web Site: http://www.clarientinc.com/
Korn/Ferry Institute Announces New Team Effectiveness Book- Latest Edition Incorporates New Research, Practitioner Insights and a Focus on Virtual Team Effectiveness -
LOS ANGELES, Sept. 1 /PRNewswire-FirstCall/ -- The Korn/Ferry Institute today announced that Lominger, a Korn/Ferry company, has released the FYI For Teams(TM) 2nd Edition book, part of the Team Architect Suite of products. FYI For Teams(TM) 2nd Edition outlines the key behaviors critical for high-performing teams and includes 200 easy-to-implement development tips for improving team effectiveness. Korn/Ferry International is a premier global provider of talent management solutions.
This best practices book is a development resource for project teams, management teams, cross-functional teams and virtual work teams. Whether it is a newly formed team or a team that has existed for years, a low-performing team or a top-performing team, the book provides numerous concrete recommendations for improvement.
"Research suggests that in today's dynamic, global economy, it is the team - not the individual - that holds the key to business success," said Dr. Ken De Meuse, associate vice president of research for Korn/Ferry. "As companies merge, restructure, downsize, and reinvent themselves, the new roles tend to be team-oriented. Korn/Ferry's FYI for Teams(TM) 2nd Edition can help talent management professionals assess, coach, and develop good teams into great teams."
FYI for Teams(TM) 2nd Edition includes new and enhanced content such as:
-- A Work Team Effectiveness chapter that explores the importance of
teams, introduces the T7 Team Effectiveness model, and offers a
comparative review of other well-known team effectiveness models
-- Updated Team Development Remedies that provide suggestions for actions
that teams can take to enhance effectiveness
-- A new list of Suggested Readings in each chapter, selected from
hundreds of research studies, articles, and books--sources that can
easily be transferred into a team development plan
-- An added focus on Virtual Teams in each chapter that addresses the
special conditions required for virtual team effectiveness
FYI for Teams(TM) 2nd Edition is recommended to be used with the Team Architect Research and Interpretation Guide, the Team Architect Sort Cards and the eTeam(TM) Online Survey.
For more information or to order a copy of FYI For Teams(TM) 2nd Edition, please visit http://www.lominger.com/. A sample chapter is also available at http://www.lominger.com/sampleteams.
About The Korn/Ferry Institute
The Korn/Ferry Institute was founded to serve as a premier global voice on a range of talent management and leadership issues. The Institute commissions, originates and publishes groundbreaking research utilizing Korn/Ferry's unparalleled expertise in executive recruitment and talent development combined with its preeminent behavioral research library. The Institute is dedicated to improving the state of global human capital for businesses of all sizes around the world.
About Lominger
Founded in 1991 by Robert W. Eichinger, Ph.D. and Michael M. Lombardo, Ed.D., Lominger produces a suite of competency-based leadership development resources for individuals, teams, and organizations. In August 2006, Lominger joined the Korn/Ferry International family of companies.
About Korn/Ferry International
Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. Visit http://www.kornferry.com/ for more information on the Korn/Ferry International family of companies, and http://www.kornferryinstitute.com/ for thought leadership, intellectual property and research.
Korn/Ferry International
CONTACT: Tiffany Winter of Korn/Ferry International, +1-952-345-3143, tiffany.winter@kornferry.com
Web Site: http://www.kornferry.com/ http://www.lominger.com/ http://www.kornferryinstitute.com/
Sarhan Live(TM) and the Sarhan Analysis Announces 'Buy' Rating on MDOR, Starts Coverage, and Releases Positive Technical Research Report
BOCA RATON, Fla., Sept. 1 /PRNewswire-FirstCall/ -- Sarhan Live(TM) and The Sarhan Analysis announces a 'Buy' rating on Magnum D'Or Resources, Inc. (BULLETIN BOARD: MDOR) , a next generation rubber recycling solutions company. Sarhan Live(TM) & The Sarhan Analysis, a privately-owned financial services firm that provides a suite of services for both individual and institutional investors also released a research and technical 'Buy' report on MDOR. MDOR REPORT: http://www.sarhanlive.com/FeaturedStock.aspx
Current highlights from the report include:
1. The stock triggered a fresh technical buy signal on Monday August 31,
2009 when it gapped up and broke out above its $0.94 pivot point on
heavy volume. Remember that heavy volume is a very strong sign of
institutional sponsorship and bodes very well for the stock. When the
rest of the institutional crowd understands what this company has going
for it, the price could appreciate considerably in a very short amount
of time.
2. The company's stated goals are clear and direct. This allows the
company to focus on generating monstrous sales and earnings in future
quarters. They are a young and vibrant company which is dynamic in
nature. Furthermore, management can capitalize on two concurrent social
themes: the green movement and the desire for continued prosperity.
3. The green movement is still in its infancy which means that there is a
tremendous amount of growth potential available for anyone who is
properly positioned to capitalize on this multi-billion dollar
industry. The desire to prosper is a fundamental component in our
society.
4. MDOR just triggered a fresh technical buy signal when it broke out of
its very powerful double bottom pattern. The stock is now trading at
its pivot point on very healthy volume patterns. At this point, there
has been virtually no sign of institutional selling (distribution)
which is a very healthy sign and suggests higher prices may follow.
MDOR will keep a copy of this report on their site at: http://magnumresources.net/news/311
About: The Sarhan Analysis http://www.thesarhananalysis.com/Default.aspx is a privately-owned financial services firm that provides a suite of services for both individual and institutional investors. Established in 2004, The Sarhan Analysis has quickly emerged as what we believe to be a leading independent investment boutique that offers: asset management, investment research, consulting, and prime brokerage services to clients around the world. The firm's vision is based on integrity, clarity, professionalism and trust, along with a primary commitment to serving the interests of our clients.
Adam Sarhan, http://www.sarhanlive.com/Home.aspx Founder, and Managing Partner of FX Capital Group, has served as Chairman and CEO since inception in October 2004. Adam Sarhan is a Registered Representative and Vice President of Investments with Source Capital Group (Member FINRA, SIPC) and offers a suite of services for both individual and institutional investors. His experience includes years of regulated supervision in global capital markets which has produced consistent returns. Mr. Sarhan is an expert in capital markets and is frequently quoted in the press (Bloomberg, Reuters, CNBC, et al). He employs methods learned from some of the world's greatest traders: namely Warren Buffet, Jesse Livermore, Nicholas Darvas, Stan Weinstein, and William O'Neil. Notably, Mr. Sarhan completed the CAN SLIM Masters program offered by Investor's Business Daily.
About: Magnum's 98,000+ sq. ft. facility is located in Magog (Quebec). Magnum currently holds over $130 Million USD in open contracts for the production of rubber nuggets and rubber buffing. Magnum's proprietary "GREEN" technology provides a one-of-a-kind solution to all of the challenges in eliminating stockpiles of scrap tires and rubber scrap. Some of Magog's Production http://www.youtube.com/watch?v=G3rMYiI3wUo
Magnum/SRI are currently using their advanced technologies to produce next generation rubber recycling solutions for custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market. Magnum/SRI tests are targeting premium applications that contain high grade properties. This will allow production of higher yielding compounds which will potentially create higher revenues and profits. This also includes maximizing cost savings for clients while producing high quality materials.
The reason why Magnum/SRI premium compounds are one of a kind is because they can be substituted in high specification compound applications without appreciable loss in properties or performance. Furthermore, the reason why our clients will prefer to use Magnum/SRI compounds is because they will be able to enjoy a substantial and meaningful reduction in raw material cost without compromising product performance and quality. In the competitive environment of rubber product manufacturing this is a major development having a direct impact on our customer's bottom line.
To visit SRI, view: http://www.srielastomers.com/
View Mangum/SRI Next Generation Custom Compound positive trials: http://magnumresources.net/view-investors.php?id=180 or http://www.magnumresources.net/view-investors.php?id=199
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. The company is not required to update its forward-looking statements.
Contact:
Sarhan Live(TM) The Sarhan Analysis
Adam Sarhan, Founder
info@SarhanLive.com
adam@thesarhananalysis.com
Magnum D'Or Resources, Inc.,
Fort Lauderdale, FL
1-954-315-3883
http://www.magnumresources.net/
mdor@magnumresources.net
Green Tech International Advisors
Human, Public, Investor Relations
1-561-674-2169
greentechint@yahoo.com
Magnum D'Or Resources, Inc.
CONTACT: Adam Sarhan, Founder, Sarhan Live(TM) The Sarhan Analysis, info@SarhanLive.com, adam@thesarhananalysis.com; or Magnum D'Or Resources, Inc., +1-954-315-3883, mdor@magnumresources.net; Green Tech International Advisors, Human, Public, Investor Relations, +1-561-674-2169, greentechint@yahoo.com
Web Site: http://www.magnumresources.net/
China Medical Technologies Reports FY2009 First Fiscal Quarter Unaudited Financial Results
BEIJING, Sept. 1 /PRNewswire-Asia-FirstCall/ -- China Medical Technologies, Inc. (the "Company") , a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic products, today announced its unaudited financial results for the first fiscal quarter ended June 30, 2009 ("1Q FY2009"). The Company's 2009 fiscal year ends on March 31, 2010 ("FY2009").
1Q FY2009 Highlights
-- Revenues from continuing operations increased by 28.9% year-over-year
to RMB209.0 million (US$30.6 million).
-- Income from continuing operations decreased by 92.8% year-over-year to
RMB2.9 million (US$0.4 million).
-- Net income decreased by 96.0% year-over-year to RMB2.9 million (US$0.4
million).
-- Non-GAAP income from continuing operations, as defined below, decreased
by 7.7% year-over-year to RMB72.5 million (US$10.6 million).
-- Diluted earnings from continuing operations per ADS* was RMB0.11
(US$0.02).
-- Non-GAAP diluted earnings from continuing operations per ADS*, as
defined below, decreased by 7.7% year-over-year to RMB2.74 (US$0.40).
*One American Depositary Share ("ADS") = 10 ordinary shares
See "Non-GAAP Measure Disclosures" below, where the impact of certain items on reported results is discussed.
"While we remain confident in the fundamentals of the Company and its prospects in the longer term, we were recently affected on several fronts," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "Our ECLIA customers, mainly distributors, have reduced their inventory level during the past months in anticipation of a price reduction on our ECLIA reagent kits due to increasing market competition. We have reduced the selling price on our ECLIA reagent kits from September 2009 to maintain our competitiveness. Besides, we launched our SPR-based analysis system to our existing FISH hospital customers in April 2009 but the progress of the placement of our analysis system with hospitals was significantly affected because the attention of our senior management was significantly diverted to the internal investigation since April 2009. Nevertheless, we expect to deliver our analysis system to some hospitals in October 2009 and will commence the training for hospital personnel on the use of our analysis system for HPV testing. We expect to generate revenue from the sale of our HPV chips used with our analysis system in January 2010."
1Q FY2009 Unaudited Financial Results
The Company reported revenues from continuing operations of RMB209.0 million (US$30.6 million) for 1Q FY2009, representing a 28.9% increase from the corresponding period of FY2008.
The Company's revenues from continuing operations are currently generated from two product lines, ECLIA diagnostic systems and FISH diagnostic systems.
ECLIA system sales for 1Q FY2009 were RMB110.5 million (US$16.2 million), representing a 1.1% decrease from the corresponding period of FY2008. The year-over-year decrease in the ECLIA system sales was primarily due to the attention of the Company's senior management and certain sales personnel significantly diverted to the independent internal investigation and the decrease in inventory level of customers in anticipation of a price reduction on the ECLIA reagent kits.
FISH system sales for 1Q FY2009 were RMB98.5 million (US$14.4 million), representing a 95.6% increase from the corresponding period of FY2008. The strong year-over-year growth in the FISH system sales was primarily due to significant increase in sales of FISH probes to hospitals as a result of increase in new hospital customers and the increased usage of the Company's FISH probes by existing hospital customers.
Gross margin increased to 74.7% for 1Q FY2009 as compared to 68.4% for the corresponding period of FY2008. The increase in gross margin was primarily due to the change in revenue mix where almost all revenues were from recurring sales of higher margin ECLIA reagent kits and FISH probes in 1Q FY2009.
Research and development expenses were RMB11.7 million (US$1.7 million) for 1Q FY2009, representing a 90.7% year-over-year increase. The increase was primarily due to the development of new ECLIA reagent kits, FISH probes and SPR-based chips.
Sales and marketing expenses were RMB13.4 million (US$2.0 million) for 1Q FY2009, representing an 18.8% year-over-year increase. The increase was primarily due to the continued expansion of the direct sales force for FISH system sales and increased product promotional activities.
General and administrative expenses were RMB74.4 million (US$10.9 million) for 1Q FY2009, representing a significant year-over-year increase. The increase was primarily due to the costs of the independent internal investigation and amortization of acquired intangible assets in connection with the acquisition of the SPR technology in December 2008.
Interest expense of convertible notes was RMB35.4 million (US$5.2 million) for 1Q FY2009, representing a significant year-over-year increase. The increase was primarily due to the issuance of US$276.0 million convertible notes in August 2008. The Company's outstanding convertible notes of US$150.0 million and US$276.0 million bear interest at 3.5% and 4.0% per annum, respectively and will mature in November 2011 and August 2013, respectively. Due to the adoption of the FASB Staff Position No APB14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB14-1") on April 1, 2009, the Company recorded additional non-cash interest expense of RMB7.6 million (US$1.1 million) for the US$150.0 million convertible notes in 1Q FY2009. The Company also made an adjustment related to these convertible notes for the corresponding period of FY2008 by increasing non-cash interest expense by RMB7.2 million to adopt FSP APB14-1 retrospectively in accordance with GAAP. This new guidance does not apply to the US$276.0 million convertible notes.
Interest expense of amortization of convertible notes issuance costs of RMB4.4 million (US$0.6 million) for 1Q FY2009, representing a significant year-over-year increase. The increase was primarily due to the issuance of US$276.0 million convertible notes in August 2008.
Income tax expense was RMB16.9 million (US$2.5 million) for 1Q FY2009. The high effective tax rate was primarily due to certain expenses of the Company such as amortization of acquired intangible assets, stock compensation expense and interest expense of convertible notes were not deductible for income tax computation in the PRC and the accrual for withholding income tax on distributable earnings generated during the quarter in the PRC.
Income from continuing operations was RMB2.9 million (US$0.4 million) for 1Q FY2009, representing a 92.8% decrease from the corresponding period of FY2008.
Net income was RMB2.9 million (US$0.4 million) for 1Q FY2009, representing a 96.0% year-over-year decrease.
Non-GAAP income from continuing operations excluding stock compensation expense, amortization of acquired intangible assets and non-cash interest expense of convertible notes arising from the adoption of FSP APB14-1 was RMB72.5 million (US$10.6 million) for 1Q FY2009, representing a 7.7% decrease from the corresponding period of FY2008.
Stock compensation expense for 1Q FY2009 was RMB12.2 million (US$1.8 million), of which RMB2.1 million was allocated to research and development expenses and RMB10.1 million to general and administrative expenses.
Amortization of acquired intangible assets for 1Q FY2009 was RMB49.8 million (US$7.3 million), of which RMB22.4 million was allocated to cost of revenues and RMB27.4 million to general and administrative expenses.
As of June 30, 2009, the Company's cash balance was RMB1,547.5 million (US$226.6 million). Net operating cash flow for 1Q FY2009 was RMB94.3 million (US$13.8 million).
As of June 30, 2009, the Company's net accounts receivable was RMB346.9 million (US$50.8 million), representing an increase of 1.1% from the balance at March 31, 2009.
For the convenience of readers, certain RMB amounts have been translated into U.S. dollars at the rate of RMB6.8302 to US$1.00, the noon buying rate in New York City for cable transfers of RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board, as of Tuesday, June 30, 2009.
Outlook for 2Q FY2009
Due to the uncertainties relating to various aspects of the Company's businesses, the Company is only able to provide the target revenues from continuing operations for the second fiscal quarter ending September 30, 2009 ("2Q FY2009"). The target revenues from continuing operations for 2Q FY2009 range from RMB165.0 million (US$24.2 million) to RMB180.0 million (US$26.4 million).
The above targets are based on the Company's current views on the operating and marketing conditions, which are subject to change.
New Management Appointment
The nomination committee and the board of directors of the Company have approved the promotion of Mr. Charles Zhu to the position of Senior Vice President - Operations effective October 1, 2009. Mr. Zhu has been working as Vice President - Business Development of the Company since January 2005 and successfully helped the Company identify and acquire the FISH technology in early 2007. Mr. Zhu and our management team have built up the FISH business over the past two years, which has become a major growth driver of the Company and led the Company to enter the fast growing molecular diagnostic sector in the PRC.
Non-GAAP Measure Disclosures
To supplement its consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), the Company uses non-GAAP measures of income from continuing operations and earnings from continuing operations per ADS, which are adjusted from the results based on GAAP to exclude the impact of stock compensation expense, amortization of acquired intangible assets and non-cash interest expense of convertible notes arising from the adoption of FSP APB14-1. Non-GAAP financial measures are used by the Company in their financial and operating decision-making because management believes they reflect the Company's ongoing business in a manner that allows meaningful period-to-period comparison. The Company's management believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company's current operating performance and future prospects in the same manner as management does, if they so choose. The Company's management also believes the non-GAAP financial measures are useful for itself and investors because it makes more meaningful comparisons of the Company's current results of operations to those of prior periods.
The presentation of this additional financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure, please see the financial statements included with this earnings announcement.
Conference Call
The Company's management team will host a conference call at 8:00a.m. U.S. Eastern Time on September 1, 2009 (or 8:00p.m. Beijing/Hong Kong time on the same date) to discuss the results following this earnings announcement.
The dial-in details for the live conference call are as follows:
U.S. Toll Free Number 1-800-291-9234
International dial-in number 1-617-614-3923
Passcode CMEDCALL
A live webcast of the conference call will be available on http://ir.chinameditech.com/ .
A replay of this webcast will be available for one month on this website.
A telephone replay of the call will be available after the conclusion of the conference call through 10:00a.m. U.S. Eastern Time on September 2, 2009.
The dial-in details for the replay are as follows:
U.S. Toll Free Number 1-888-286-8010
International dial in numbers 1-617-801-6888
Passcode 92901366
About China Medical Technologies, Inc.
China Medical Technologies is a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic products using Enhanced Chemiluminescence (ECLIA) technology, Fluorescent in situ Hybridization (FISH) technology and Surface Plasmon Resonance (SPR) technology to detect and monitor various diseases and disorders. For more information, please visit http://www.chinameditech.com/ .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release, the Company's strategic operational plans, as well as our outlook for 2Q FY2009, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For more information, please contact:
Sam Tsang and Winnie Yam
Tel: +852-2511-9808
Email: IR@chinameditech.com
China Medical Technologies, Inc.
Unaudited Condensed Consolidated Balance Sheets
As of
March 31, March 31,
2009 2009 June 30, 2009
RMB RMB RMB US$
As As
previously adjusted (2)
reported
(in thousands)
Assets
Current assets
Cash and cash
equivalents 1,456,410 1,456,410 1,547,533 226,572
Trade accounts
receivable, net 343,037 343,037 346,854 50,782
Inventories 16,932 16,932 20,467 2,997
Prepayments and other
receivables 20,425 20,425 25,301 3,704
Due from a related
party 204,987 204,987 204,906 30,000
Total current assets 2,041,791 2,041,791 2,145,061 314,055
Property, plant and
equipment, net 169,422 169,422 166,791 24,420
Land use rights 7,239 7,239 7,192 1,053
Goodwill 8,654 8,654 8,654 1,267
Intangible assets,
net (1) 3,487,474 3,487,474 3,436,451 503,126
Convertible notes 68,596 65,816 61,409 8,991
issuance costs (2)
Total assets 5,783,176 5,780,396 5,825,558 852,912
Liabilities
Current liabilities
Trade accounts payable 27,863 27,863 29,933 4,382
Accrued liabilities and
other payables 999,083 999,083 1,023,296 149,820
Income taxes payable 77,112 77,112 68,168 9,980
Total current
liabilities 1,104,058 1,104,058 1,121,397 164,182
Convertible notes (2) 2,910,815 2,826,348 2,832,852 414,754
Deferred income taxes 29,898 29,898 36,329 5,319
Total liabilities 4,044,771 3,960,304 3,990,578 584,255
Shareholders' equity
Ordinary shares US$0.1
par value: 500,000,000
authorized; 321,066,661
issued and outstanding
as of March 31, 2009
and June 30, 2009 257,738 257,738 257,738 37,735
Additional paid-in
capital (2) 544,178 709,949 722,106 105,723
Accumulated other
comprehensive loss (2) (51,946) (69,957) (70,173) (10,274)
Retained earnings (1)(2) 988,435 922,362 925,309 135,473
Total shareholders'
equity 1,738,405 1,820,092 1,834,980 268,657
Total liabilities and
shareholders' equity 5,783,176 5,780,396 5,825,558 852,912
Notes:
(1) The Company has performed a preliminary purchase price allocation
after the completion of the SPR acquisition in December 2008. The
Company will finalize the purchase price allocation as soon as
practicable.
(2) As a result of the adoption of FSP APB14-1, the Company adjusted
relevant numbers in the unaudited condensed consolidated balance sheet
as of March 31, 2009 retrospectively in accordance with GAAP.
China Medical Technologies, Inc.
Unaudited Condensed Consolidated Statements of Income
For the Three Months Ended
June 30, June 30,
2008 2008 June 30, 2009
RMB RMB RMB US$
As previously As adjusted
reported (5)
(in thousands except for per ADS information)
Revenues, net (1) 162,052 162,052 208,957 30,593
Cost of revenues (51,270) (51,270) (52,872) (7,741)
Gross profit 110,782 110,782 156,085 22,852
Operating expenses:
Research and
development (6,138) (6,138) (11,703) (1,713)
Sales and marketing (11,285) (11,285) (13,411) (1,964)
General and
administrative (3) (24,780) (24,780) (74,366) (10,888)
Total operating
expenses (42,203) (42,203) (99,480) (14,565)
Operating income 68,579 68,579 56,605 8,287
Other income -- -- 300 44
Interest income 3,997 3,997 2,773 406
Interest expense -
convertible notes (5) (9,132) (16,285) (35,432) (5,187)
Interest expense -
amortization of
convertible notes
issuance costs (5) (1,851) (1,585) (4,380) (641)
Interest expense - other (1,145) (1,145) -- --
Income before income tax 60,448 53,561 19,866 2,909
Income tax expense (12,561) (12,561) (16,919) (2,478)
Income from continuing
operations 47,887 41,000 2,947 431
Income from discontinued
operation (2) 32,377 32,377 -- --
Net income 80,264 73,377 2,947 431
Earnings from continuing
operations per ADS
- basic 1.82 1.56 0.11 0.02
- diluted (4) 1.81 1.55 0.11 0.02
Earnings from discontinued
operation per ADS
- basic 1.23 1.23 N/A N/A
- diluted (4) 1.22 1.22 N/A N/A
Weighted average number
of ADS
- basic 26,242,974 26,242,974 26,324,842 26,324,842
- diluted (4) 26,461,885 26,461,885 26,438,076 26,438,076
Notes:
(1) Revenues RMB'000 RMB'000 RMB'000 US$'000
- ECLIA 111,718 111,718 110,491 16,177
- FISH 50,334 50,334 98,466 14,416
162,052 162,052 208,957 30,593
(2) Income from
discontinued
operation RMB'000 RMB'000 RMB'000 US$'000
- Revenue from HIFU
business 64,707 64,707 -- --
- Income from HIFU
business 32,377 32,377 -- --
(3) The Company has performed a preliminary purchase price allocation
after the completion of the SPR acquisition in December 2008. The
Company will finalize the purchase price allocation as soon as
practicable.
(4) In computing diluted earnings from continuing operations per ADS,
interest expense and amortization in connection with convertible notes
were not added back in computing diluted earnings from continuing
operations per ADS because they were anti-dilutive.
(5) As a result of the adoption of FSP APB14-1, the Company adjusted
relevant numbers in the unaudited condensed consolidated statement of
income for the three months ended June 30, 2008 retrospectively in
accordance with GAAP.
China Medical Technologies, Inc.
Reconciliations of Non-GAAP Income from Continuing Operations to GAAP
Income from Continuing Operations
For the Three Months Ended
June 30, June 30,
2008 2008 June 30, 2009
RMB RMB RMB US$
As As adjusted
previously (3)
reported
(in thousands except for per ADS information)
GAAP income from
continuing operations 47,887 41,000 2,947 431
Adjustments:
Stock compensation expense 7,694 7,694 12,157 1,780
Amortization of acquired
intangible assets (1) 22,732 22,732 49,807 7,292
Non-cash interest expense
of convertible notes
arising from the adoption
of APB14-1 (3) -- 7,153 7,620 1,116
Non-GAAP income from
continuing operations 78,313 78,579 72,531 10,619
GAAP earnings from
continuing operations
per ADS
- basic 1.82 1.56 0.11 0.02
- diluted 1.81 1.55 0.11 0.02
Non-GAAP earnings from
continuing operations
per ADS
- basic 2.98 2.99 2.76 0.40
- diluted (2) 2.96 2.97 2.74 0.40
Weighted average number
of ADS
- basic 26,242,974 26,242,974 26,324,842 26,324,842
- diluted (2) 26,461,885 26,461,885 26,438,076 26,438,076
Notes:
(1) The Company has performed a preliminary purchase price allocation
after the completion of the SPR acquisition in December 2008. The
Company will finalize the purchase price allocation as soon as
practicable.
(2) In computing diluted non-GAAP earnings from continuing operations per
ADS, interest expense and amortization in connection with convertible
notes were not added back in computing diluted non-GAAP earnings from
continuing operations per ADS because they were anti-dilutive.
(3) As a result of the adoption of FSP APB14-1, the Company adjusted
relevant numbers in the reconciliation of non-GAAP income from
continuing operations to GAAP income from continuing operations for
the three months ended June 30, 2008 retrospectively in accordance
with GAAP.
China Medical Technologies, Inc.
CONTACT: Sam Tsang and Winnie Yam at +852-2511-9808 or IR@chinameditech.com
Web site: http://www.chinameditech.com/
China Medical Technologies Reports FY2008 Fourth Fiscal Quarter and Full Year Unaudited Financial Results
BEIJING, Sept. 1 /PRNewswire-Asia-FirstCall/ -- China Medical Technologies, Inc. (the "Company") , a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic products, today announced its unaudited financial results for the fourth fiscal quarter ("4Q FY2008") and the full fiscal year ended March 31, 2009 ("FY2008").
4Q FY2008 Highlights
-- Revenues from continuing operations increased by 37.3% year-over-year
to RMB248.6 million (US$36.4 million).
-- Income from continuing operations increased by 8.6% year-over-year to
RMB56.3 million (US$8.2 million).
-- Net income decreased by 46.5% year-over-year to RMB56.3 million (US$8.2
million).
-- Non-GAAP income from continuing operations, as defined below, increased
by 48.5% year-over-year to RMB120.0 million (US$17.6 million).
-- Diluted earnings from continuing operations per ADS* was RMB2.14
(US$0.31).
-- Non-GAAP diluted earnings from continuing operations per ADS*, as
defined below, increased by 49.0% year-over-year to RMB4.56 (US$0.67).
FY2008 Highlights
-- Revenues from continuing operations increased by 51.6% year-over-year
to RMB830.0 million (US$121.5 million) which was within our targeted
range of RMB825.0 million to RMB838.0 million.
-- Loss from continuing operations was RMB2.1 million (US$0.3 million)
including a charge of RMB244.9 million (US$35.8 million) for acquired
in-process research and development ("IPR&D").
-- Net income decreased by 21.2% year-over-year to RMB256.2 million
(US$37.5 million).
-- Non-GAAP income from continuing operations, as defined below,
increased by 80.9% year-over-year to RMB419.6 million (US$61.4 million)
which was within our targeted range of RMB410.0 million to RMB420.0
million.
-- Diluted loss from continuing operations per ADS* was RMB0.08 (US$0.01).
-- Non-GAAP diluted earnings from continuing operations per ADS*, as
defined below, were RMB15.97 (US$2.34) which exceeded the high end of
our targeted range of RMB15.13.
-- Annual cash dividend of US$0.55 per ADS* for FY2008 was declared which
increased by 10.0% as compared to annual cash dividend of US$0.5 per
ADS last year.
* One American Depositary Share ("ADS") = 10 ordinary shares
See "Non-GAAP Measure Disclosures" below, where the impact of certain
items on reported results is discussed.
"In FY2008, we achieved significant operational milestones," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "We continue to believe that China IVD market is significantly under-developed and under-penetrated. We are confident in our positioning as an advanced in-vitro diagnostic company in China to capture the enormous growth potentials in this business segment over the next 10 years. We also maintain our steady dividend policy to reward our shareholders despite challenging circumstances."
4Q FY2008 Unaudited Financial Results
The Company reported revenues from continuing operations of RMB248.6 million (US$36.4 million) for 4Q FY2008, representing a 37.3% increase from the corresponding period of FY2007.
The Company's revenues from continuing operations are currently generated from two product lines, ECLIA diagnostic systems and FISH diagnostic systems.
ECLIA system sales for 4Q FY2008 were RMB139.0 million (US$20.3 million), representing a 23.9% increase from the corresponding period of FY2007. The year-over-year growth in the ECLIA system sales was primarily due to the increasing utilization of the Company's ECLIA analyzers by hospitals as well as the expanded installed base of the analyzers which resulted in increased sales of ECLIA reagent kits.
FISH system sales for 4Q FY2008 were RMB109.6 million (US$16.0 million), representing a 59.3% increase from the corresponding period of FY2007. The strong year-over-year growth in the FISH system sales was primarily due to significant increase in sales of FISH probes to hospitals as a result of increase in new hospital customers and the increased usage of the Company's FISH probes by existing hospital customers.
Gross margin increased to 75.8% for 4Q FY2008 from 58.6% for the corresponding period of FY2007. The increase in gross margin was primarily due to the change in revenue mix where almost all revenues were generated from recurring sales of higher margin ECLIA reagent kits and FISH probes in 4Q FY2008.
Research and development expenses were RMB10.7 million (US$1.6 million) for 4Q FY2008, representing a 70.4% year-over-year increase. The increase was primarily due to the development of new ECLIA reagent kits and FISH probes.
Sales and marketing expenses were RMB13.6 million (US$2.0 million) for 4Q FY2008, representing a 97.4% year-over-year increase. The increase was primarily due to the continued expansion of the direct sales force for FISH system sales, increased product promotional activities as well as cost of the ECLIA analyzers provided free of charge to customers.
General and administrative expenses were RMB48.1 million (US$7.0 million) for 4Q FY2008, representing a significant year-over-year increase. The increase was primarily due to the increased headcount associated with the expansion of the Company's operations, an increase in stock compensation expense arising from a restricted stock grant in June 2008 and amortization of acquired intangible assets in connection with the acquisition of the SPR technology in December 2008.
Interest expense of convertible notes was RMB27.8 million (US$4.1 million) for 4Q FY2008, representing a significant year-over-year increase. The increase was primarily due to the issuance of US$276.0 million convertible notes in August 2008. The Company's outstanding convertible notes of US$150.0 million and US$276.0 million bear interest at 3.5% and 4.0% per annum, respectively and will mature in November 2011 and August 2013, respectively.
Interest expense of amortization of convertible notes issuance costs of RMB4.6 million (US$0.7 million) for 4Q FY2008, representing a significant year-over-year increase. The increase was primarily due to the issuance of US$276.0 million convertible notes in August 2008.
Other interest expense of RMB0.8 million (US$0.1 million) for 4Q FY2008 was primarily due to the present value discounting of other payable of US$10 million for the final payment of the FISH acquisition in March 2009.
Income tax expense was RMB32.1 million (US$4.7 million) for 4Q FY2008. The high effective tax rate was primarily due to certain expenses of the Company such as amortization of acquired intangible assets, stock compensation expense and interest expense of convertible notes were not deductible for income tax computation in the PRC and the accrual for withholding income tax on distributable earnings in the PRC.
Income from continuing operations was RMB56.3 million (US$8.2 million) for 4Q FY2008, representing a 8.6% increase from the corresponding period of FY2007.
Net income was RMB56.3 million (US$8.2 million) for 4Q FY2008, representing a 46.5% decrease from the corresponding period of FY2007.
Non-GAAP income from continuing operations excluding stock compensation expense, amortization of acquired intangible assets and acquired IPR&D charge was RMB120.0 million (US$17.6 million) for 4Q FY2008, representing a 48.5% increase from the corresponding period of FY2007.
Stock compensation expense for 4Q FY2008 was RMB13.9 million (US$2.0 million), of which RMB2.3 million was allocated to research and development expenses and RMB11.6 million to general and administrative expenses.
Amortization of acquired intangible assets for 4Q FY2008 was RMB49.8 million (US$7.3 million), of which RMB22.4 million was allocated to cost of revenues and RMB27.4 million to general and administrative expenses.
As of March 31, 2009, the Company's cash balance was RMB1,456.4 million (US$213.1 million).
As of March 31, 2009, the Company's net accounts receivable was RMB343.0 million (US$50.2 million), representing an increase of 20.7% from the balance at December 31, 2008.
FY2008 Unaudited Financial Results
Revenues from continuing operations were RMB830.0 million (US$121.5 million) for FY2008, representing a 51.6% year-over-year increase. The targeted revenues from continuing operations for FY2008 ranged from RMB825.0 million to RMB838.0 million.
ECLIA system sales for FY2008 were RMB504.7 million (US$73.9 million), representing a 32.6% year-over-year increase. FISH system sales for FY2008 were RMB325.3 million (US$47.6 million), representing a 94.9% year-over-year increase.
Gross margin increased to 73.6% for FY2008 as compared to 55.2% for FY2007 primarily due to similar reasons for 4Q FY2008.
Research and development expenses were RMB31.5 million (US$4.6 million) for FY2008, representing a 55.5% year-over-year increase. The increase was primarily due to the development of new ECLIA reagent kits and FISH probes.
Acquired IPR&D charge was RMB244.9 million (US$35.8 million) which related to the acquisition of SPR technology in December 2008.
Sales and marketing expenses were RMB56.0 million (US$8.2 million) for FY2008, representing a significant year-over-year increase. This increase was primarily due to the continued expansion of the direct sales force for FISH system sales, increased product promotional activities as well as the cost of the ECLIA analyzers provided free of charge to customers.
General and administrative expenses were RMB137.8 million (US$20.2 million) for FY2008, representing a significant year-over-year increase. The increase was primarily due to an increase in headcount to meet the expansion of the Company's operations, an increase in stock compensation expense arising from a restricted stock grant in June 2008 and amortization of acquired intangible assets in connection with the acquisition of the SPR technology in December 2008.
Interest expense of convertible notes was RMB83.2 million (US$12.2 million) for FY2008, representing a significant year-over-year increase. The increase was primarily due to the issuance of US$276.0 million convertible notes in August 2008.
Interest expense of amortization of convertible notes issuance costs of RMB14.4 million (US$2.1 million) for FY2008, representing a significant year-over-year increase. The increase was primarily due to the issuance of US$276.0 million convertible notes in August 2008.
Other interest expense of RMB4.2 million (US$0.6 million) for FY2008 was primarily due to the present value discounting of other payable of US$10.0 million for the final payment of the FISH acquisition which was paid in March 2009.
Income tax expense was RMB73.0 million (US$10.7 million) for FY2008. The high effective tax rate was primarily due to certain expenses of the Company such as the charge related to acquired IPR&D, amortization of acquired intangible assets, stock compensation expense and interest expense of convertible notes were not deductible for income tax computation in the PRC and the accrual for withholding income tax on distributable earnings in the PRC.
Loss from continuing operations was RMB2.1 million (US$0.3 million) for FY2008, including a charge of RMB244.9 million (US$35.8 million) for acquired IPR&D for the acquisition of the SPR technology in December 2008.
Income from discontinued operation was RMB258.2 million (US$37.8 million) for FY2008, representing a 28.6% year-over-year increase, primarily due to a one-time gain of RMB137.2 million (US$20.1 million) from the sale of the HIFU business in December 2008. A portion of this gain amounting to RMB106.2 million (US$15.5 million) has been deferred in accordance with GAAP because of the subsequent event described in the section headed, "Recent Development on the Sale of the HIFU Business" below.
Net income was RMB256.2 million (US$37.5 million) for FY2008, representing a 21.2% year-over-year decrease.
Non-GAAP income from continuing operations excluding stock compensation expense, amortization of acquired intangible assets and acquired IPR&D charge was RMB419.6 million (US$61.4 million) for FY2008, representing a 80.9% year- over-year increase. The targeted adjusted income from continuing operations for FY2008 ranged from RMB410.0 million to RMB420.0 million.
Stock compensation expense for FY2008 was RMB50.2 million (US$7.3 million), of which RMB8.2 million was allocated to research and development expenses and RMB42.0 million to general and administrative expenses.
Amortization of acquired intangible assets for FY2008 was RMB126.6 million (US18.5 million), of which RMB90.1 million was allocated to cost of revenues and RMB36.5 million to general and administrative expenses.
For the convenience of readers, certain RMB amounts have been translated into U.S. dollars at the rate of RMB6.8329 to US$1.00, the noon buying rate in New York City for cable transfers of RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board, as of Tuesday, March 31, 2009.
Annual Cash Dividend
The Board of Directors has declared an annual cash dividend on its ordinary shares of US$0.055 per share, equivalent to US$0.55 per ADS based on the Company's unaudited net income for FY2008. The cash dividend will be paid on or around October 28, 2009 to shareholders of record as of September 30, 2009.
Outlook
Please refer to the section "Outlook for 2Q FY2009" in the earnings announcement for FY2009 First Fiscal Quarter.
Recent Development on the Sale of the HIFU Business
In June 2009, the Company received a letter from Chengxuan International Ltd. ("Chengxuan"), the buyer of the HIFU Business and a major shareholder of the Company in connection with a notice issued by the State Food and Drug Administration ("the SFDA") in April 2009. The notice from the SFDA required the submission of new clinical trial data for the renewal application of the registration certificate for the HIFU system for the further evaluation of the renewal application and did not permit the sale of the HIFU system starting from April 2009 until the approval of the renewal application. The Company recently received another letter from Chengxuan which updated their ongoing discussion with the SFDA about the requirements for the new clinical trial data for the HIFU system, Chengxuan's loss of revenues due to the unexpected prohibition on selling the HIFU system since April 2009 and their indication of seeking maximum compensation of approximately US$15.5 million. The Company has established a special committee comprising two independent directors to evaluate and handle the related matters with Chengxuan and the special committee has engaged legal counsel to advise on Chengxuan's request for compensation. Due to this subsequent event and the uncertainty of the outcome, the Company has reduced the gain on the sale of the HIFU Business recorded in December 2008 by deferring approximately US$15.5 million of the gain in accordance with GAAP. This accounting treatment does not indicate any agreement of the Company to Chengxuan's request for compensation. The Company seeks to come up with a fair and acceptable solution to both parties. As such, the outcome may be different from the current estimate, and accordingly the amounts that are recorded in our consolidated financial statements for the year ended March 31, 2009 to be included in our annual report on Form 20-F, might be lower than US$15.5 million.
Non-GAAP Measure Disclosures
To supplement its consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), the Company uses non-GAAP measures of income from continuing operations and earnings from continuing operations per ADS, which are adjusted from the results based on GAAP to exclude the impact of stock compensation expense, amortization of acquired intangible assets and acquired IPR&D charge. Non-GAAP financial measures are used by the Company in their financial and operating decision-making because management believes they reflect the Company's ongoing business in a manner that allows meaningful period-to-period comparison. The Company's management believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company's current operating performance and future prospects in the same manner as management does, if they so choose. The Company's management also believes the non-GAAP financial measures are useful for itself and investors because it makes more meaningful comparisons of the Company's current results of operations to those of prior periods.
The presentation of this additional financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure, please see the financial statements included with this earnings announcement.
Conference Call
The Company's management team will host a conference call at 8:00a.m. U.S. Eastern Time on September 1, 2009 (or 8:00p.m. Beijing/Hong Kong time on the same date) to discuss the results following this earnings announcement.
The dial-in details for the live conference call are as follows:
-- U.S. Toll Free Number 1-800-291-9234
-- International dial-in number 1-617-614-3923
Passcode CMEDCALL
A live webcast of the conference call will be available on http://ir.chinameditech.com/ .
A replay of this webcast will be available for one month on this website.
A telephone replay of the call will be available after the conclusion of the conference call through 10:00a.m. U.S. Eastern Time on September 2, 2009.
The dial-in details for the replay are as follows:
-- U.S. Toll Free Number 1-888-286-8010
-- International dial in numbers 1-617-801-6888
Passcode 92901366
About China Medical Technologies, Inc.
China Medical Technologies is a leading China-based medical device company that develops, manufactures and markets advanced in-vitro diagnostic products using Enhanced Chemiluminescence (ECLIA) technology, Fluorescent in situ Hybridization (FISH) technology and Surface Plasmon Resonance (SPR) technology to detect and monitor various diseases and disorders. For more information, please visit http://www.chinameditech.com/ .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
China Medical Technologies, Inc.
Unaudited Condensed Consolidated Balance Sheets
As of
March 31, December 31, March 31,
2008 2008 2009
RMB RMB RMB US$
As adjusted(2)
(in thousands)
Assets
Current assets
Cash and cash
equivalents 682,679 1,943,588 1,456,410 213,147
Trade accounts
receivable, net 289,751 284,262 343,037 50,204
Inventories 27,834 28,029 16,932 2,478
Prepayments and other
receivables 27,845 27,908 20,425 2,989
Due from a related
party -- 204,675 204,987 30,000
Total current assets 1,028,109 2,488,462 2,041,791 298,818
Property, plant and
equipment, net 164,499 161,801 169,422 24,795
Land use rights 7,430 7,287 7,239 1,059
Goodwill 8,654 8,654 8,654 1,267
Intangible assets,
net(1) 1,541,793 3,532,442 3,487,474 510,394
Prepayments and other
receivables 154,264 -- -- --
Convertible notes
issuance costs 27,055 73,131 68,596 10,039
Total assets 2,931,804 6,271,777 5,783,176 846,372
Liabilities
Current liabilities
Trade accounts payable 48,040 21,160 27,863 4,078
Accrued liabilities
and other payables(2) 238,580 1,572,275 999,083 146,217
Income taxes payable 69,499 82,908 77,112 11,285
Total current
liabilities 356,119 1,676,343 1,104,058 161,580
Convertible notes 1,051,800 2,906,385 2,910,815 426,000
Deferred income taxes 1,124 21,657 29,898 4,375
Total liabilities 1,409,043 4,604,385 4,044,771 591,955
Shareholders' equity
Ordinary shares US$0.1
par value: 500,000,000
authorized; 274,066,661
issued and outstanding
as of March 31, 2008,
321,066,661 issued and
outstanding as of
December 31, 2008
and March 31, 2009 225,473 257,738 257,738 37,720
Additional paid-in
capital 526,264 530,259 544,178 79,641
Accumulated other
comprehensive loss (48,046) (52,766) (51,946) (7,602)
Retained earnings(1)(2) 819,070 932,161 988,435 144,658
Total shareholders' 1,522,761 1,667,392 1,738,405 254,417
equity
Total liabilities and
shareholders' equity 2,931,804 6,271,777 5,783,176 846,372
Notes:
(1) The Company has performed a preliminary purchase price allocation
after the completion of the SPR acquisition in December 2008. The
Company will finalize the purchase price allocation as soon as
practicable.
(2) Due to the subsequent event described in the section "Recent
Development on the Sale of the HIFU Business" above, a portion of the
gain on disposal from HIFU business was deferred in accordance with
GAAP based on the Company's estimate of maximum compensation.
China Medical Technologies, Inc.
Unaudited Condensed Consolidated Statements of Income
For the Three Months Ended
March 31, December 31, March 31,
2008 2008 2009
RMB RMB RMB US$
As adjusted(2)
(in thousands except for per ADS information)
Revenues, net(1) 181,048 225,296 248,635 36,388
Cost of revenues (74,886) (55,818) (60,206) (8,811)
Gross profit 106,162 169,478 188,429 27,577
Operating expenses:
Research and
development (6,262) (8,304) (10,670) (1,562)
Acquired in-process
research and
development(3) (672) (244,872) -- --
Sales and marketing (6,884) (14,565) (13,591) (1,989)
General and
administrative(3) (15,522) (38,115) (48,085) (7,037)
Total operating
expenses (29,340) (305,856) (72,346) (10,588)
Operating income
(loss) 76,822 (136,378) 116,083 16,989
Other income -- -- -- --
Interest income 5,034 12,448 5,608 821
Interest expense -
convertible notes (9,396) (27,856) (27,840) (4,075)
Interest expense -
amortization of
convertible notes
issuance costs (1,905) (4,652) (4,649) (680)
Interest expense -
other (1,299) (1,165) (785) (115)
Income (loss) before
income tax 69,256 (157,603) 88,417 12,940
Income tax expense (17,457) (13,915) (32,143) (4,704)
Income (loss) from
continuing
operations 51,799 (171,518) 56,274 8,236
Income from
discontinued
operation(2) 53,414 173,422 -- --
Net income 105,213 1,904 56,274 8,236
Earnings (loss) from
continuing operations
per ADS
- basic 1.97 (6.54) 2.14 0.31
- diluted(4) 1.96 (6.54) 2.14 0.31
Earnings from discontinued
operation per ADS
- basic 2.04 6.61 N/A N/A
- diluted(4) 2.02 6.61 N/A N/A
Weighted average number
of ADS
- basic 26,242,974 26,242,974 26,287,974 26,287,974
- diluted(4) 26,407,370 26,242,974 26,347,906 26,347,906
For the Years Ended
March 31, March 31,
2008 2009
RMB RMB US$
(in thousands except for per ADS information)
Revenues, net(1) 547,421 829,950 121,464
Cost of revenues (245,437) (219,337) (32,100)
Gross profit 301,984 610,613 89,364
Operating expenses:
Research and development (20,231) (31,450) (4,603)
Acquired in-process research
and development(3) (672) (244,872) (35,837)
Sales and marketing (22,012) (55,956) (8,189)
General and administrative(3) (70,939) (137,839) (20,173)
Total operating expenses (113,854) (470,117) (68,802)
Operating income (loss) 188,130 140,496 20,562
Other income 100 -- --
Interest income 28,650 32,354 4,735
Interest expense -
convertible notes (39,149) (83,238) (12,182)
Interest expense -
amortization of
convertible notes
issuance costs (7,937) (14,387) (2,105)
Interest expense - other (5,229) (4,240) (621)
Income (loss) before
income tax 164,565 70,985 10,389
Income tax expense (40,193) (73,042) (10,690)
Income (loss) from
continuing
operations 124,372 (2,057) (301)
Income from discontinued
operation(2) 200,850 258,231 37,792
Net income 325,222 256,174 37,491
Earnings (loss) from
continuing operations
per ADS
- basic 4.74 (0.08) (0.01)
- diluted(4) 4.72 (0.08) (0.01)
Earnings from
discontinued operation
per ADS
- basic 7.66 9.83 1.44
- diluted(4) 7.62 9.83 1.44
Weighted average number
of ADS
- basic 26,221,900 26,277,629 26,277,629
- diluted(4) 26,346,462 26,277,629 26,277,629
Notes:
(1) Revenues, net
For the Three Months Ended
March 31, December 31, March 31,
2008 2008 2009
RMB'000 RMB'000 RMB'000 US$'000
- ECLIA 112,221 131,782 138,995 20,342
- FISH 68,827 93,514 109,640 16,046
181,048 225,296 248,635 36,388
For the Years Ended
March 31, March 31,
2008 2009
RMB'000 RMB'000 US$'000
- ECLIA 380,520 504,655 73,857
- FISH 166,901 325,295 47,607
547,421 829,950 121,464
(2) Income from discontinued operation
For the Three Months Ended
March 31, December 31, March 31,
2008 2008 2009
RMB'000 RMB'000 RMB'000 US$'000
- Revenue from HIFU
business 103,171 85,364 -- --
- Income from HIFU
business 53,414 36,271 -- --
- Gain on disposal of
HIFU business -- 137,151 -- --
For the Years Ended
March 31, March 31,
2008 2009
RMB'000 RMB'000 US$'000
- Revenue from HIFU
business 368,317 246,588 36,088
- Income from HIFU
business 200,850 121,080 17,720
- Gain on disposal of
HIFU business -- 137,151 20,072
Due to the subsequent event described in the section "Recent
Development on the Sale of the HIFU Business" above, a portion of the
gain on disposal from HIFU business was deferred in accordance with
GAAP based on the Company's estimate of maximum compensation.
(3) The Company has performed a preliminary purchase price allocation
after the completion of the SPR acquisition in December 2008. The
Company will finalize the purchase price allocation as soon as
practicable.
(4) In computing diluted earnings from continuing operations per ADS,
interest expense and amortization in connection with convertible notes
were not added back in computing diluted earnings from continuing
operations per ADS because they were anti-dilutive.
China Medical Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
For the Years Ended
March 31, March 31,
2008 2009
RMB RMB US$
(in thousands)
Net cash provided by operating
activities 463,334 490,758 71,823
Net cash used in investing
activities (831,551) (1,467,195) (214,725)
Net cash (used in) provided by
financing activities (86,149) 1,751,297 256,303
Effect of foreign currency
exchange rate change on cash (36,595) (1,129) (165)
Net (decrease) increase in cash
and cash equivalents (490,961) 773,731 113,236
Cash and cash equivalents:
At beginning of year 1,173,640 682,679 99,911
At end of year 682,679 1,456,410 213,147
China Medical Technologies, Inc.
Reconciliations of Non-GAAP Income from Continuing Operations to GAAP Income
from Continuing Operations
For the Three Months Ended
March 31, December 31, March 31,
2008 2008 2009
RMB RMB RMB US$
(in thousands except for per ADS information)
GAAP income (loss)
from continuing
operations 51,799 (171,518) 56,274 8,236
Adjustments:
Stock compensation
expense 4,669 14,486 13,919 2,037
Amortization of acquired
intangible assets(1) 23,700 31,586 49,823 7,292
Acquired in-process
research and
development(1) 672 244,872 -- --
Non-GAAP income from
continuing operations 80,840 119,426 120,016 17,565
GAAP earnings (loss)
from continuing
operations per ADS
- basic 1.97 (6.54) 2.14 0.31
- diluted 1.96 (6.54) 2.14 0.31
Non-GAAP earnings
from continuing
operations per ADS
- basic 3.08 4.55 4.57 0.67
- diluted(2) 3.06 4.55 4.56 0.67
Weighted average
number of ADS
- basic 26,242,974 26,242,974 26,287,974 26,287,974
- diluted(2) 26,407,370 26,242,974 26,347,906 26,347,906
For the Years Ended
March 31, March 31,
2008 2009
RMB RMB US$
(in thousands except for per ADS information)
GAAP income (loss) from
continuing operations 124,372 (2,057) (301)
Adjustments:
Stock compensation
expense 16,660 50,179 7,344
Amortization of acquired
intangible assets(1) 90,233 126,588 18,526
Acquired in-process
research and development(1) 672 244,872 35,837
Non-GAAP income from
continuing operations 231,937 419,582 61,406
GAAP earnings (loss) from
continuing operations
per ADS
- basic 4.74 (0.08) (0.01)
- diluted 4.72 (0.08) (0.01)
Non-GAAP earnings from
continuing operations
per ADS
- basic 8.85 15.97 2.34
- diluted(2) 8.80 15.97 2.34
Weighted average number
of ADS
- basic 26,221,900 26,277,629 26,277,629
- diluted(2) 26,346,462 26,277,629 26,277,629
Notes:
(1) The Company has performed a preliminary purchase price allocation
after the completion of the SPR acquisition in December 2008. The
Company will finalize the purchase price allocation as soon as
practicable.
(2) In computing diluted non-GAAP earnings from continuing operations per
ADS, interest expense and amortization in connection with convertible
notes were not added back in computing diluted non-GAAP earnings from
continuing operations per ADS because they were anti-dilutive.
For more information, please contact:
Sam Tsang and Winnie Yam
Tel: +852-2511-9808
Email: IR@chinameditech.com
China Medical Technologies, Inc.
CONTACT: Sam Tsang and Winnie Yam at +852-2511-9808 or IR@chinameditech.com
Web site: http://www.chinameditech.com/
Dow Completes Divestiture of Ownership in TRN Refinery for Approximately $800 Million
MIDLAND, Mich., Sept. 1 /PRNewswire-FirstCall/ -- The Dow Chemical Company has completed the sale of its interests in Total Raffinaderij Nederland N.V. (TRN) to Total S.A. for an enterprise value of approximately $800 million, including inventory.
TRN is a crude oil refinery located in the Zeeland region of The Netherlands on the river Scheldt. The transaction received regulatory approvals last month.
"We are very pleased to announce the completion of this transaction," said Andrew N. Liveris, chairman and chief executive officer. "This is yet another proof point of our commitment to divest non-core assets and deleverage our balance sheet."
Dow's divestiture of TRN is consistent with the company's plan to increase its financial flexibility, improve its cash flow, and pay down debt.
About The Dow Chemical Company
Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in approximately 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. In 2008, Dow had annual sales of $57.5 billion and employed approximately 46,000 people worldwide. The Company has 150 manufacturing sites in 35 countries and produces approximately 3,300 products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008, 98 manufacturing sites in 30 countries and approximately 15,000 employees worldwide. More information about Dow can be found at http://www.dow.com/.
Note: The statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
The Dow Chemical Company
CONTACT: Bob Plishka of The Dow Chemical Company, +1-989-638-2288
Web Site: http://www.dow.com/
Radware's AppDirector Achieves Oracle Validated Integration With Oracle(R) E-Business Suite 12.0
MAHWAH, N.J., Sept. 1 /PRNewswire-FirstCall/ -- Radware , the leading provider of integrated application delivery solutions for business-smart networking, today announced that it has completed Oracle validated integration testing for the integration of AppDirector 2.0.01, its intelligent application delivery controller (ADC), with Oracle E-Business Suite (EBS) 12.0. The validation testing was completed through the Oracle PartnerNetwork Application Integration Architecture for Partners initiative.
Oracle E-Business Suite 12.0 is a comprehensive suite of integrated, global business applications, with hundreds of cross-industry capabilities spanning enterprise resource planning, customer relationship management, and supply chain planning. Maintaining the integrity, reliability and availability of the Oracle E-Business Suite applications is critical to the success of an organization's global business environment. When deployed with Oracle E-Business Suite, Radware's AppDirector helps ensure the continuous application availability and scalability by managing network complexities to avoid system downtime through advanced health monitoring and traffic management.
Key benefits of this solution delivered through its integration approach, include:
-- High availability: Radware's advanced health-monitoring algorithms can
detect real-time failures in the Oracle E-Business Suite environment,
and can automatically redirect users to an available resource.
-- Acceleration and Optimization: AppDirector offers advanced
acceleration capabilities which include SSL offloading, caching,
compression and TCP multiplexing to enhance the end-user experience;
providing faster download times and a reduction in the required
bandwidth needed to support Oracle E-Business Suite, as a whole.
-- CAPEX and OPEX Savings: By offloading server processing, AppDirector's
acceleration capabilities lowers CAPEX by reducing the number of
servers needed, as well as reducing the bandwidth consumption required
to support the Oracle E-Business Suite solution. AppDirector also
reduces OPEX by decreasing the management and security costs
associated with Oracle E-Business Suite.
-- On Demand, "Pay-as-you-Grow" Scalability: As part of Radware's
Business-Smart Data Center strategy, AppDirector is powered by the
company's next-generation OnDemand Switch platform, which provides a
seamless upgrade path - offered in a pay-as-you-grow licensing model -
to support more users and greater traffic throughput without any
physical forklift upgrade.
"As a business-critical solution, the Oracle E-Business Suite 12.0 environment must optimize user transactions between the different Oracle application servers' elements to deliver superior performance and productivity," said Yossi Vardi, Vice-President Global Business Development, Radware. "AppDirector focuses on improving the overall user quality of experience - dynamically allocating application resources to deliver faster response times to all users, at all times."
The AppDirector devices are deployed in-front of the Oracle application servers, and seamlessly integrate into existing and newly-deployed Oracle E-Business Suite 12.0 environments - without the need to modify the network infrastructure, end-user client devices, software, or source code.
Application Integration Architecture for Partners
Validation through Oracle PartnerNetwork Application Integration Architecture for Partners gives customers confidence that integrations between Oracle Applications and complementary partner solutions have been validated and the products work together as designed. This can help reduce risk, improve system implementation cycles, and provide for smoother upgrades and simpler maintenance. Validation through this initiative applies a rigorous technical process to review the integrations of third-party software to Oracle Applications products, including productized repeatable integrations from system integrators. Oracle provides tools, resources and training to assist partners in the integration. Partners who have successfully validated their integrations are authorized to use the "Integrated with Oracle" logo. For more information, please visit Oracle.com at http://www.oracle.com/partnerships/isv/integration/search.html
About the Oracle PartnerNetwork
Oracle PartnerNetwork is a global business network of more than 20,000 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer their customers leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle qualify for the Certified Partner levels. http://oraclepartnernetwork.oracle.com/.
About Radware
Radware , the global leader in integrated application delivery solutions, assures the full availability, maximum performance, and complete security of business-critical applications for nearly 10,000 enterprises and carriers worldwide. With APSolute , Radware's comprehensive and award-winning suite of application delivery and network security products, companies in every industry can drive business productivity, improve profitability, and reduce IT operating and infrastructure costs by making their networks "business smart". For more information, please visit http://www.radware.com/.
This press release may contain forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the Application Switching or Network Security industry, changes in demand for Application Switching or Network Security products, the timing and amount or cancellation of orders and other risks detailed from time to time in Radware's filings with the Securities and Exchange Commission, including Radware's Form 20-F.
Oracle is a registered trademark of Oracle Corporation and/or its affiliates
Media Relations:
Loren Pomerantz
+1 (917) 902-0219
lorenp@radware.com
Radware
CONTACT: Loren Pomerantz of Radware, +1-917-902-0219, lorenp@radware.com
Web Site: http://www.radware.com/
J.P. Morgan Launches Third-Party Clearing for SmartPool and Arca Europe Trading Platforms
LONDON, September 1 /PRNewswire-FirstCall/ -- J.P. Morgan announced today that its GlobeClear(SM) business has been offering third party clearing and settlement services for trades executed on the SmartPool and NYSE Arca Europe trading platforms.
SmartPool Trading Limited is a pan-European Multilateral Trading Facility (MTF) and dark liquidity pool covering 15 markets. It was created by NYSE Euronext in partnership with J.P. Morgan, HSBC and BNP Paribas. NYSE Arca Europe, another pan-European MTF, fully integrated with NYSE Euronext, provides access to the most liquid securities across 11 markets.
With this service extension, J.P. Morgan's GlobeClear now supports 29 trading venues, including five MTFs, three of which are cleared through EuroCCP and/or LCH Clearnet SA as central counterparties. As a result, clients wishing to trade on these MTFs can opt in for cross-platform netting enabling them to further reduce their net settlement cost.
Kelly Mathieson, global head of clearance and collateral management for J.P. Morgan Worldwide Securities Services, said: "Supporting investors on these trading platforms is in line with GlobeClear's strategy to further expand its clearing and settlement offering, providing our clients with quick, pan- European access to several trading platforms through a single global window. Through GlobeClear, clients benefit from a wide market coverage, both off and on-exchange, at low cost."
For more information on J.P. Morgan's GlobeClear, please visit http://www.jpmorgan.com/globeclear.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. , WSS leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $13.7 trillion in assets under custody and $3.7 trillion in funds under administration. For more information, go to http://www.jpmorgan.com/visit/wss.
About J.P. Morgan Chase & Co.
J.P. Morgan Chase & Co. , is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and Washington Mutual brands. Information about J.P. Morgan Chase & Co. is available at http://www.jpmorganchase.com/.
Media contact:
Juliana Wheeler, +44(0)207-325-5755, juliana.r.wheeler@jpmorgan.com
J.P. Morgan
CONTACT: Media contact: Juliana Wheeler, +44(0)207-325-5755, juliana.r.wheeler@jpmorgan.com
Microsoft Delivers Windows 7-Based Windows Embedded Standard 2011 Community Technology Preview
REDMOND, Washington, September 1 /PRNewswire/ --
- Windows Embedded Standard 2011 CTP available for download today to
involve Microsoft's worldwide developer community in the release of the
next-generation Windows platform for specialised devices.
Today, Microsoft Corp released the Windows 7-based Windows Embedded
Standard 2011 (formerly code-named "Quebec") Community Technology Preview
(CTP) to original equipment manufacturers (OEMs) and developers of
specialised devices worldwide through its immediate public availability at
http://connect.microsoft.com/windowsembedded. Windows Embedded Standard 2011
delivers the latest Windows 7 technologies to OEMs, enabling them to bring
high-performing specialised devices to market faster, to differentiate those
devices through innovative user experiences, and to delight their customers
with devices that extend the Windows user experience to specialised devices
from Windows-based PCs, servers and online services.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
"To meet the demand for improved user experiences and connectivity among
today's rapidly growing categories of specialised devices, Microsoft has
strategically planned the release of Windows 7-based technologies to OEMs in
the embedded marketplace," said Kevin Dallas, general manager of the Windows
Embedded Business at Microsoft. "The availability of the Windows Embedded
Standard 2011 CTP empowers our worldwide ecosystem of OEMs, partners and
developers to take advantage of the next-generation platform's enhanced
Windows 7-based features and provide feedback prior to its general release to
manufacturing. We encourage the embedded community to take full advantage of
the CTP's availability and join in our excitement as we look ahead to the
future availability of Windows Embedded platforms incorporating Windows 7
technologies."
Windows 7 Features and Functionality Available in Windows Embedded
Standard 2011
Windows Embedded Standard 2011 delivers the power, familiarity and
reliability of the Windows 7 operating system in a highly customisable and
componentised form, enabling OEMs in industrial automation, entertainment,
consumer electronics and other markets to focus on their core competencies
and create product differentiation. Instead of investing in platform
development, Windows Embedded Standard 2011 allows OEMs to choose only the
components they need to tailor the platform to meet the unique requirements
of their device. Familiar, easy-to-use development tools and
embedded-enabling features help to further reduce development costs and
increase speed to market for thin-client, point-of-service (POS), kiosk,
medical, multifunction printers and other devices.
Windows Embedded Standard 2011 capabilities and features include these:
- Enterprise Equipped with the ability for organisations to seamlessly
extend existing investments in technology management and infrastructure
to devices by using Active Directory group policies and Microsoft
System Center Configuration Manager, as well as increased
interoperability for client server scenarios with Microsoft Terminal
Services and Virtual Desktop Infrastructure (VDI)
- Latest Windows technology innovations to enhance user experiences on
specialised devices through the security of Internet Explorer 8,
enhanced media capabilities of Windows Media Player 12, improved client
server with Microsoft Remote Desktop Protocol (RDP) 7.0 and Microsoft
.NET Framework 3.5
- Rich, immersive user experiences with support for 64-bit CPUs, Windows
Aero user interface, Windows Presentation Foundation, Windows Touch
(multigesture touch interfaces and context-aware applications) and
Windows Flip 3D navigation
- The ability to develop "green" solutions with smart power management
APIs for developers to build applications that can improve CPU idle
time and reduce power consumption
ESC Boston
During the Embedded Systems Conference (ESC) Boston (21-24 Sept at the
Hynes Convention Center), Kevin Dallas, general manager of the Windows
Embedded Business Unit at Microsoft, will deliver an industry keynote address
on Tuesday, 22 Sept, at 10.30am. Dallas will detail how the Windows Embedded
software-plus-services platform enables developers and OEMs to provide the
unique value of Windows on specialised devices, as well as sharing a Windows
Embedded product road map update.
Microsoft will also be participating in TechInsights' "Build Your Own
Embedded System" seminars, enabling attendees to take home a
custom-configured design kit based on Windows Embedded Standard 2011.
Conferencegoers can visit the Microsoft booth (No 400) or
http://esc-boston.techinsightsevents.com for more information.
Community Resources Available Pre- and Post-Launch
A Microsoft Certified Technology Specialist (MCTS) certification,
preparation kit and training courseware will be available for Windows
Embedded Standard 2011 during the timeframe of its release to manufacturing
(RTM), approximately the second half of 2010. Additional Windows Embedded
training opportunities can be found at
http://www.microsoft.com/windowsembedded/en-us/about/training.mspx.
Microsoft will also host a series of five free webinars exploring the
enhanced functionality, networking capabilities, improved security and
reliability of Windows Embedded Standard 2011. Participants can register at
https://swrt.worktankseattle.com/webcast/2672/preview.aspx. A full listing of
additional technical events and seminars can be found at
http://www.microsoft.com/windowsembedded/en-us/news/events/default.mspx.
Additional information on Windows Embedded Standard 2011 and the entire
Windows Embedded portfolio of platforms and technologies can be found at
http://www.microsoft.com/windowsembedded.
About Microsoft
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in
software, services and solutions that help people and businesses realise
their full potential.
About Microsoft EMEA (Europe, Middle East and Africa)
Microsoft has operated in EMEA since 1982. In the region Microsoft
employs more than 16,000 people in over 64 subsidiaries, delivering products
and services in more than 139 countries and territories.
This material is for informational purposes only. Microsoft Corp
disclaims all warranties and conditions with regard to use of the material
for other purposes. Microsoft Corp shall not, at any time, be liable for any
special, direct, indirect or consequential damages, whether in an action of
contract, negligence or other action arising out of or in connection with the
use or performance of the material. Nothing herein should be construed as
constituting any kind of warranty.
Microsoft Corp
Jacob Grimm of Weber Shandwick, +1-212-445-8030, jgrimm@webershandwick.com, for Microsoft / Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO / NOTE TO EDITORS: If you are interested in viewing additional information on Microsoft in EMEA, please visit http://www.microsoft.com/emea or the EMEA Press Centre at http://www.microsoft.com/emea/presscentre. Web links, telephone numbers and titles were correct at the time of publication, but may since have changed. For additional assistance, journalists and analysts may contact the appropriate contacts listed at http://www.microsoft.com/emea/presscentre/contactus.mspx. If you are interested in viewing additional information on Microsoft Corp, please visit the Microsoft web page at http://www.microsoft.com/presspass on Microsoft's corporate information pages.
Microsoft Delivers Windows 7-Based Windows Embedded Standard 2011 Community Technology PreviewWindows Embedded Standard 2011 CTP available for download today to involve Microsoft's worldwide developer community in the release of the next-generation Windows platform for specialized devices.
REDMOND, Wash., Sept. 1 /PRNewswire-FirstCall/ -- Today, Microsoft Corp. released the Windows 7-based Windows Embedded Standard 2011 (formerly code-named "Quebec") Community Technology Preview (CTP) to original equipment manufacturers (OEMs) and developers of specialized devices worldwide through its immediate public availability at http://connect.microsoft.com/windowsembedded. Windows Embedded Standard 2011 delivers the latest Windows 7 technologies to OEMs, enabling them to bring high-performing specialized devices to market faster, to differentiate those devices through innovative user experiences, and to delight their customers with devices that extend the Windows user experience to specialized devices from Windows-based PCs, servers and online services.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
"To meet the demand for improved user experiences and connectivity among today's rapidly growing categories of specialized devices, Microsoft has strategically planned the release of Windows 7-based technologies to OEMs in the embedded marketplace," said Kevin Dallas, general manager of the Windows Embedded Business at Microsoft. "The availability of the Windows Embedded Standard 2011 CTP empowers our worldwide ecosystem of OEMs, partners and developers to take advantage of the next-generation platform's enhanced Windows 7-based features and provide feedback prior to its general release to manufacturing. We encourage the embedded community to take full advantage of the CTP's availability and join in our excitement as we look ahead to the future availability of Windows Embedded platforms incorporating Windows 7 technologies."
Windows 7 Features and Functionality Available in Windows Embedded Standard 2011
Windows Embedded Standard 2011 delivers the power, familiarity and reliability of the Windows 7 operating system in a highly customizable and componentized form, enabling OEMs in industrial automation, entertainment, consumer electronics and other markets to focus on their core competencies and create product differentiation. Instead of investing in platform development, Windows Embedded Standard 2011 allows OEMs to choose only the components they need to tailor the platform to meet the unique requirements of their device. Familiar, easy-to-use development tools and embedded-enabling features help to further reduce development costs and increase speed to market for thin-client, point-of-service (POS), kiosk, medical, multifunction printers and other devices.
Windows Embedded Standard 2011 capabilities and features include these:
-- Enterprise Equipped with the ability for organizations to seamlessly
extend existing investments in technology management and
infrastructure to devices by using Active Directory group policies and
Microsoft System Center Configuration Manager, as well as increased
interoperability for client server scenarios with Microsoft Terminal
Services and Virtual Desktop Infrastructure (VDI)
-- Latest Windows technology innovations to enhance user experiences on
specialized devices through the security of Internet Explorer 8,
enhanced media capabilities of Windows Media Player 12, improved
client server with Microsoft Remote Desktop Protocol (RDP) 7.0 and
Microsoft .NET Framework 3.5
-- Rich, immersive user experiences with support for 64-bit CPUs, Windows
Aero user interface, Windows Presentation Foundation, Windows Touch
(multigesture touch interfaces and context-aware applications) and
Windows Flip 3D navigation
-- The ability to develop "green" solutions with smart power management
APIs for developers to build applications that can improve CPU idle
time and reduce power consumption
ESC Boston
During the Embedded Systems Conference (ESC) Boston (Sept. 21-24 at the Hynes Convention Center), Kevin Dallas, general manager of the Windows Embedded Business Unit at Microsoft, will deliver an industry keynote address on Tuesday, Sept. 22, at 10:30 a.m. Dallas will detail how the Windows Embedded software-plus-services platform enables developers and OEMs to provide the unique value of Windows on specialized devices, as well as sharing a Windows Embedded product road map update.
Microsoft will also be participating in TechInsights' "Build Your Own Embedded System" seminars, enabling attendees to take home a custom-configured design kit based on Windows Embedded Standard 2011. Conferencegoers can visit the Microsoft booth (No. 400) or http://esc-boston.techinsightsevents.com/ for more information.
Community Resources Available Pre- and Post-Launch
A Microsoft Certified Technology Specialist (MCTS) certification, preparation kit and training courseware will be available for Windows Embedded Standard 2011 during the timeframe of its release to manufacturing (RTM), approximately the second half of 2010. Additional Windows Embedded training opportunities can be found at http://www.microsoft.com/windowsembedded/en-us/about/training.mspx.
Microsoft will also host a series of five free webinars exploring the enhanced functionality, networking capabilities, improved security and reliability of Windows Embedded Standard 2011. Participants can register at https://swrt.worktankseattle.com/webcast/2672/preview.aspx. A full listing of additional technical events and seminars can be found at http://www.microsoft.com/windowsembedded/en-us/news/events/default.mspx.
Additional information on Windows Embedded Standard 2011 and the entire Windows Embedded portfolio of platforms and technologies can be found at http://www.microsoft.com/windowsembedded.
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
Photo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
Microsoft Corp.
CONTACT: Jacob Grimm of Weber Shandwick, +1-212-445-8030, jgrimm@webershandwick.com, for Microsoft Corp.
Web Site: http://www.microsoft.com/
For Fares That Fit Your Budget, Book Now With AirTran Airways- You Can Plan a Vacation Without Breaking the Bank With Fares as Low as $39* -
ORLANDO, Fla., Sept. 1 /PRNewswire-FirstCall/ -- AirTran Airways, a subsidiary of AirTran Holdings, Inc. , today launched a sale for travel to all the airline's destinations with fares starting as low as $39*. Travelers may purchase these sale fares at airtran.com or via AirTran Airways' reservations system at 1-800-AIR-TRAN. For Spanish, call 1-877-581-9842.
These special fares are available for purchase through September 3, 2009, and are good for travel through December 16, 2009. Like all AirTran Airways fares, prices included in this sale are available for one-way travel and do not require a roundtrip purchase or an overnight stay.
Following is a sample of the one-way sale fares. All fares are valid in either direction:
Sample Fares: Off Peak Peak
Allentown/Bethlehem/Easton - Orlando $69 $69
Atlanta - Las Vegas $129 $159
Atlanta - Milwaukee $84 $104
Atlanta - Minneapolis/ St. Paul $84 $104
Atlanta - Orlando $69 $89
Atlanta - San Antonio $84 $104
Baltimore/Washington (BWI) - Charlotte $39 $59
Baltimore/Washington (BWI) - Ft. Lauderdale $69 $99
Baltimore/Washington (BWI) - Indianapolis $59 $69
Boston - Baltimore/Washington (BWI) $39 $39
Boston - Milwaukee $64 $84
Boston - Minneapolis/ St. Paul $69 $109
Charleston, West Virginia - Orlando $59 $59
Charleston, S.C. - Atlanta $49 $59
Charlotte - Boston $69 $99
Chicago (Midway) - Atlanta $74 $94
Dayton - Boston $59 $89
Denver - Milwaukee $79 $99
Detroit - Atlanta $69 $89
Flint - Ft. Lauderdale $89 $119
Indianapolis - Los Angeles $119 $149
Indianapolis - Milwaukee $49 $59
Indianapolis - New York (LaGuardia) $80 $110
Indianapolis - Tampa $89 $119
Knoxville - Orlando $59 $59
Milwaukee - Los Angeles $119 $149
Milwaukee - Baltimore/Washington (BWI) $59 $79
Milwaukee - New York (LaGuardia) $59 $79
Milwaukee - Pittsburgh $49 $59
Milwaukee - St. Louis $39 $49
Milwaukee - Washington D.C. (Dulles or Reagan National) $69 $79
Orlando - Atlantic City $69 $79
Orlando - Milwaukee $79 $99
Orlando - San Juan $69 $99
Pittsburgh - Denver $119 $149
Pittsburgh - Ft. Lauderdale $69 $99
St. Louis - Orlando $82 $112
St. Louis - Washington (Dulles or Reagan National) $89 $119
Washington DC (Dulles or Reagan National) - Orlando $69 $99
White Plains (Westchester) - Atlanta $84 $104
Wichita - Charleston, SC $76 $106
AirTran Airways, a subsidiary of AirTran Holdings, Inc. and a Fortune 1000 company, has been ranked the number one low cost carrier in the Airline Quality Rating study for the past two years. AirTran is the only major airline with Wi-Fi on every flight and offers coast-to-coast service on North America's newest all-Boeing fleet. Its low-cost, high-quality product also includes assigned seating, Business Class and complimentary XM Satellite Radio on every flight. To book a flight, visit http://www.airtran.com/.
*All fares are one-way. All fares are non-refundable and a $75 fee per person applies to any change made after purchase, plus any applicable increase in airfare. Ten-day advance purchase required. Seats are limited, subject to availability, and may not be available on all flights. Tickets must be purchased by September 3, 2009. Sale fares are valid for travel through December 16, 2009. Lowest sale fares are valid for travel on Tuesdays, Wednesdays and Saturdays. Additional sale fares are valid for travel on Mondays, Thursdays, Fridays and Sundays. Blackout dates are as follows: November 24-25, 2009 and November 28-30, 2009. A first bag may be checked for a fee of up to $15 per person and a second bag may be checked for a fee of up to $25 per person. Reservations may be obtained or changed through an AirTran Airways Telephone Reservations Center for an additional $15 per person. Fares, routes, and schedules are subject to change without notice. Fares shown do not include Airport Passenger Facility Charges of up to $18. The September 11th security fee of up to $10 is not included. Fares do not include segment taxes of $3.60 per segment. A segment is defined as a takeoff and a landing. Fares to/from Puerto Rico do not include additional government taxes of up to $32.20. Fares to/from Cancun do not include additional government taxes of up to $100.
Media Contact: AirTran Airways
Christopher White
Cynthia Tinsley-Douglas
678.254.7442
AirTran Airways
CONTACT: Christopher White or Cynthia Tinsley-Douglas, both of AirTran Airways, +1-678-254-7442
Web Site: http://www.airtran.com/
Payless ShoeSource Celebrates Hispanic Heritage Month and Supports the Academic Dreams of Hispanic Youth With the Payless Inspiring Possibilities Scholarship ProgramSecond Annual Program Features a Limited-Edition Trilogy Necklace for Only $4; 100 Percent of the Net Profits from Necklace Sales Go to Scholarship Program Established with the Hispanic Scholarship Fund
TOPEKA, Kan., Sept. 1 /PRNewswire/ -- In celebration of Hispanic Heritage Month, which begins on September 15th, today Payless ShoeSource has launched the 2009 Payless Inspiring Possibilities Program and invites shoppers to join the retailer to raise money to establish higher-education scholarships with the Hispanic Scholarship Fund (HSF) in support the future of Hispanic youth.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090901/FL68744LOGO)
Through the program, Payless is selling a limited-edition Trilogy necklace for only $4 in more than 750 stores nationwide and on Payless.com , while supplies last, and will donate 100 percent of the net profits of necklace sales to the Payless Inspiring Possibilities Scholarship established with the HSF. This is the second annual Payless Inspiring Possibilities program to celebrate Hispanic Heritage Month. Last year, Payless awarded 12 $2,500 scholarships for the 2009-2010 academic year to HSF scholars.
This year's exclusive Trilogy necklace features an on-trend design with a bead-ball silver-tone necklace and three distinctive charms -- one with the inspirational words engraved on both sides (English on one side, Spanish on the other): Dream/Sonar, Believe/Creer, and Inspire/Inspirar. The two remaining charms include a purple-colored bead and a circular swirl design.
"Youth and education are critical to the future of our nation," said LuAnn Via, president and CEO of Payless. "We were thrilled with the success of the program last year, and pleased to have given out a dozen scholarships to deserving Hispanic youth through our partner HSF. With this year's exclusive on-trend necklace design and at $4 - a price point accessible to so many -- we expect that this year's program will be equally as strong. Together, we are truly celebrating Hispanic Heritage Month and benefiting young Hispanics with strong opportunities for higher education to help them achieve their goals and make their dreams come true."
The Payless Inspiring Possibilities Scholarship program is unique because it features an on-trend fashion accessory that is affordable, enabling people to celebrate Hispanic Heritage Month and support an important, worthy cause - enabling higher education for Hispanic youth.
"This year's Payless Trilogy necklace celebrates the dreams and educational goals of Hispanic youth," said Gaby Alban, spokesperson for Payless ShoeSource. "The necklace is fun to wear and is an easy and affordable way for Payless and its shoppers to honor Hispanic Heritage Month and give back to the community."
The dreams of today's Hispanic youth are our best hope for a brighter future, not only for the Hispanic community but for the nation as a whole. Through the Payless Inspiring Possibilities Scholarship program, Payless hopes to inspire all Hispanic youth to pursue their dreams and is dedicated to the continued support in achieving their educational goals.
"I am a recipient of the Hispanic Scholarship award and am grateful for helping me fund my education and easing the financial stress associated with graduate expenses," said Jasmine Diaz, graduate student at Fordham University School of Social Service. "But most of all, thank you for strengthening the Latino community through the encouragement of educationally based scholarships. Our dreams are closer in reach thanks to people like you."
For more information on the Trilogy necklace and/or the Payless Inspiring Possibilities program, please visit http://www.payless.com/hhm.
About the Hispanic Scholarship Fund
The Hispanic Scholarship Fund (HSF) is the nation's leading Hispanic scholarship organization, providing the Hispanic community more college scholarships and educational outreach support than any other organization in the country. In its 34-year history, the Hispanic Scholarship Fund has awarded over $250 million in scholarships to more than 90,000 students in need. Two-thirds of these students were the first in their families to go to college.
During the 2007-08 academic year alone, HSF awarded nearly 4,100 scholarships worth close to $27 million. HSF scholars are high achievers and they have or are attending close to 2,000 of the nation's diverse and academically rigorous colleges and universities in all 50 states, Puerto Rico, Guam and the U.S. Virgin Islands.
For more information about the Hispanic Scholarship Fund or to make a contribution, please visit http://www.hsf.net/.
About Payless' Giving Programs
Payless has established formal programs to support important causes by selling unique on-trend items and making them accessible with affordable price points and then partnering with shoppers by donating a 100 percent of the net profits from item sales to a cause. Through such programs, Payless supports Breast Cancer Awareness in October and celebrates Black History Month in February and Hispanic Heritage Month in September by establishing the Payless Inspiring Possibilities Scholarships benefitting higher education of America's minority youth. Payless supports inner city youth in New York City with its Friendship Shoe program, with proceeds benefitting the Fresh Air Fund, which provides free summer vacations to underprivileged children living in the New York area. In April, Payless announced its alliance with the Nature Conservancy's Plant a Billion Trees campaign where it is donating $1 - the cost to plant one tree in the Atlantic Forest in Brazil -- for every reusable shopping bag sold. The company said it expects to plant, at minimum, 100,000 trees through this effort. These are among the Payless and Collective Brands, Inc. giving programs.
About Payless & Collective Brands, Inc.
Payless ShoeSource, Inc., a unit of Collective Brands, Inc., is the largest specialty family footwear retailer in the Western Hemisphere and is dedicated to democratizing fashion and design in footwear and accessories and inspiring fun, fashion possibilities for the family at a great value. As of the end of first quarter 2009, the company operated more than 4,500 stores. In addition, customers can buy shoes over the Internet through Payless.com at http://www.payless.com/.
Collective Brands, Inc. is a leader in bringing compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. The company operates three strategic units covering a powerful brand portfolio, as well as multiple price points and selling channels including retail, wholesale, ecommerce and licensing. Collective Brands, Inc. includes Payless ShoeSource, focused on democratizing fashion and design in footwear and accessories through its more than 4,500-store retail chain, with its brands American Eagle(TM) by Payless, Airwalk , Dexter , Champion and designer collections Abaete for Payless, Lela Rose for Payless and alice + olivia for Payless, among others; Stride Rite, focused on lifestyle and athletic branded footwear and high-quality children's footwear sold primarily through wholesaling, with its brands including Stride Rite , Keds , Sperry Top-Sider , Robeez , and Saucony , among others; and Collective Licensing International, the brand development, management and global licensing unit, with such youth lifestyle brands as Airwalk , Vision Street Wear , Sims , Lamar and LTD . Information about, and links for shopping on, each of the Collective Brand's units can be found at http://www.collectivebrands.com/.
AMERICAN EAGLE BY PAYLESS IS NOT AFFILIATED WITH AMERICAN EAGLE OUTFITTERS
Payless ShoeSource, Inc.
CONTACT: Michelle Schwartz, +1-310-921-7808, michelle@prconexion.com, for Payless ShoeSource, Inc.
Web Site: http://www.payless.com/
Ness Technologies Announces Approval of Dual Listing on the Tel Aviv Stock ExchangeWelcoming Ceremony to be Held at the TASE Conference Center on September 13, 2009, With TASE Trading Beginning on September 14, 2009
HACKENSACK, New Jersey, September 1 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. , a global provider of information technology solutions and services, announced today that the Tel Aviv Stock Exchange ("TASE") has approved the dual listing of the company's common stock on the TASE beginning at market open on Monday, September 14, 2009, under the ticker symbol NSTC. The company's common stock will continue to be listed on the NASDAQ Global Select Market in the United States, and Ness will remain subject to the rules and regulations of NASDAQ and of the U.S. Securities and Exchange Commission.
Ness will host a welcoming ceremony on Sunday, September 13, 2009 at 11:30 AM Israel time at the Tel Aviv Stock Exchange Conference Center at 54 Ahad Ha'am Street, Tel Aviv. Sachi Gerlitz, president and CEO of Ness, and Ofer Segev, CFO and executive vice president, will speak and will be available for questions. All institutional investors are invited. A separate event for the Israeli press will be held at 9:00 AM local time.
"We are very pleased to welcome Ness Technologies to the exchange," said Ester Levanon, CEO of the Tel Aviv Stock Exchange. "Ness is one of the leading IT services providers, both in Israel and globally. We appreciate the opportunity to dual-list Ness' shares on the TASE, making them accessible to a wider range of investors. Ness Technologies joins a growing number of hi-tech companies listed on the TASE, which strengthens our bond with the hi-tech world."
"We look forward to our new TASE dual listing," said Sachi Gerlitz, president and CEO of Ness Technologies. "Although we are a U.S.-based corporation, almost a third of our business is for Israeli customers or delivered by our Israeli workforce. This dual listing reinforces our visibility and stature in the Israeli marketplace, and we believe it will make our shares accessible to a range of new investors and funds. We also believe that the aggregate trading volume of Ness shares will expand, increasing liquidity for institutional investors. Finally, the dual listing will provide trading access for European investors during regular European business hours and will afford Ness investors worldwide with more than 13 hours of continuous trading access."
Ness, with a market capitalization of approximately $230 million, is expected to become part of the TA-100 index using the TASE's fast track system. This enables dual-listed companies to enter the leading stock exchange indices shortly after they have been dual-listed.
Trading on the TASE occurs Sunday through Thursday from 9:45 AM to 4:30 PM Israel time, except on TASE trading holidays. Through the Dual Listing Law that took effect in October 2000, U.S.-listed companies may dual-list on the TASE without any additional regulatory requirements. TASE links to the U.S. markets with a direct link to DTC, a subsidiary of the Depository Trust & Clearing Corporation, which facilitates the trading of dually-listed securities.
About Ness Technologies
Ness Technologies is a global provider of IT and business services and solutions with specialized expertise in software product engineering; system integration, application development and consulting; and software distribution. Ness delivers its portfolio of solutions and services using a global delivery model combining offshore, near-shore and local teams. With about 7,800 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report of Form 10-K filed with the Securities and Exchange Commission on March 16, 2009. Ness is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.
Media Contact - United States:
John Fitzsimmons
USA: +1-781-223-5833
Email: john.fitzsimmons@ness.com
Media Contact - Israel:
David Kanaan
Intl: +972-54-425-5307
Email: media.int@ness.com
Investor Relations Contact:
Drew Wright
USA: +1-201-488-3262
Email: investor@ness.com
Ness Technologies Inc
CONTACT: Media Contact - United States: John Fitzsimmons, USA: +1-781-223-5833, Email: john.fitzsimmons@ness.com. Media Contact - Israel: David Kanaan, Intl: +972-54-425-5307, Email: media.int@ness.com. Investor Relations Contact: Drew Wright, USA: +1-201-488-3262, Email: investor@ness.com
BB&D Group Selects Autonomy as Preferred Partner for Pan-Enterprise Search and High-End Information ProcessingLeading South African Integrator Expands Autonomy's Presence in the Region
CAMBRIDGE, England and SAN FRANCISCO, September 1 /PRNewswire-FirstCall/ -- Autonomy Corporation plc , a global leader in infrastructure software for the enterprise, today announced that the Barone, Budge & Dominick (BB&D) Group, a leading South African custom software development company, has selected Autonomy as its preferred partner for pan-enterprise search and high-end information processing. The move will enable BB&D customers to benefit from Autonomy's unique meaning-based technology to maximize the value of their corporate data and leverage traditionally untapped information assets. Autonomy's core infrastructure software, the Intelligent Data Operating Layer (IDOL), derives meaning from all content automatically and in real-time thus transcending traditional information access barriers like never before.
"As the South African market matures, organizations across industries and geographical locations face the same predicament: how to take full advantage of abundant information assets without employing teams of professionals to manually retrieve, tag and classify data," said Richard Kantor, BB&D's Group Marketing Executive. "IDOL's unique conceptual capabilities, scalability and mapped security model coupled with BB&D's expertise will bring true business value to organizations in the region."
By providing a pan-enterprise software infrastructure that automates advanced operations, Autonomy presents customers with a compelling value proposition. IDOL forms a conceptual and contextual understanding of any piece of data, including text, voice and video, regardless of data type or storage location, and performs advanced operations on that information in real-time. Meaning Based Computing technology enables organizations to penetrate their information silos and not only automate a raft of processes and thus cut costs, but also mitigate the risks endemic to the rapid spread of unstructured data.
"Autonomy's IDOL technology goes well beyond legacy approaches which simply bring a piece of information on a screen for a human being to process," said Ian Black, Head of Global Operations. "IDOL's ability to understand the concepts in data and take action upon this understanding is truly unique and is what has allowed Autonomy to excel. We are delighted that the BB&D Group has selected Autonomy as its preferred partner for pan-enterprise search in the region and are looking forward to our future collaborations."
Autonomy and BB&D Group recently showcased Autonomy's unique portfolio at Gartner ITxpo Cape Town.
Please visit http://www.autonomy.com/idolserver for more information on Autonomy's pan-enterprise search solution.
About Autonomy
Autonomy Corporation plc , a global leader in infrastructure software for the enterprise, spearheads the Meaning Based Computing movement. It was recently ranked by IDC as the clear leader in enterprise search revenues, with market share nearly double that of its nearest competitor. Autonomy's technology allows computers to harness the full richness of human information, forming a conceptual and contextual understanding of any piece of electronic data, including unstructured information, such as text, email, web pages, voice, or video. Autonomy's software powers the full spectrum of mission-critical enterprise applications including pan-enterprise search, customer interaction solutions, information governance, end-to-end eDiscovery, records management, archiving, business process management, web content management, web optimization, rich media management and video and audio analysis.
Autonomy's customer base is comprised of more than 20,000 global companies, law firms and federal agencies including: AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler AG, Deutsche Bank, DLA Piper, Ericsson, FedEx, Ford, GlaxoSmithKline, Lloyds TSB, NASA, Nestle, the New York Stock Exchange, Reuters, Shell, Tesco, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. More than 400 companies OEM Autonomy technology, including Symantec, Citrix, HP, Novell, Oracle, Sybase and TIBCO. The company has offices worldwide. Please visit http://www.autonomy.com/ to find out more.
Autonomy and the Autonomy logo are registered trademarks or trademarks of Autonomy Corporation plc. All other trademarks are the property of their respective owners.
About the BB&D Group
Barone, Budge & Dominick (Pty) Ltd is a leading South African technology services company, with a key focus on custom software development, integration services and architecture and niche business consulting. It offers customised solutions across a broad range of vertical industries with specialist focus teams in Banking, Investments, Insurance, Treasury, Compliance & Risk Management, Telecommunications, Government, Payments and Retail systems.
Formed in 1984, the company has grown consistently over the past 25 years and today employs more than 400 software and business domain professionals in its development centres in Johannesburg, Cape Town, Pretoria and Nicosia (Cyprus). Through its Sepia division, customer interaction solutions and contact centres are delivered using the latest open standards technology with significant business benefits.
Our key differentiator is our ability to develop, implement and integrate working solutions within very short time frames, through our expert technical, project management and business domain expertise.
Please visit http://www.bbd.co.za/ and http://www.sepia.co.za/ to find out more.
Autonomy Editorial Contacts:
Assia Svinarova
Autonomy (UK)
+44-1223-448000
assias@autonomy.com
Edward Bridges
Financial Dynamics (UK)
+44-207-831-3113
edward.bridges@fd.com
David Vindel
The Red Consultancy
+44-207-025-6529
david.vindel@redconsultancy.com
Ian Bain
The Red Consultancy (US)
+1-415-618-8806
ian.bain@redconsultancy.com
Autonomy Corporation plc
CONTACT: Autonomy Editorial Contacts: Assia Svinarova, Autonomy (UK), +44-1223-448000, assias@autonomy.com. Edward Bridges, Financial Dynamics (UK), +44-207-831-3113, edward.bridges@fd.com. David Vindel, The Red Consultancy, +44-207-025-6529, david.vindel@redconsultancy.com. Ian Bain, The Red Consultancy (US), +1-415-618-8806, ian.bain@redconsultancy.com
Dow Jones Introduces First Sanctions Data Feed Optimized for New International Payment RegulationsDow Jones Sanction Alert Helps Firms Comply With New NACHA, SWIFT Operating Rules, Standards While Controlling Costs by Minimizing Alerts; Showcasing at Sibos 2009, Hong Kong, Sept. 14-18
NEW YORK and LONDON, Sept. 1 /PRNewswire/ -- Dow Jones Sanction Alert, a new highly structured data feed, helps financial institutions worldwide manage the impact of enhanced international payment formats by dramatically reducing false positives and duplicate alerts without increasing exposure to risk.
Reducing false alerts is of critical importance because of new National Automated Clearing House Association (NACHA) regulations taking effect on Sept. 18 and changes to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) message formats taking effect Nov. 21. These changes will significantly increase the number of payments classed as international and therefore subject to sanctions regimes and result in a corresponding increase in the number of high-priority alerts requiring immediate investigation.
"As businesses that handle International ACH Transactions or SWIFT payments face impending regulations, they must considerably alter their current payment screening process to avoid being buried in alerts and to maintain the integrity of their sanctions screening programs," Rupert de Ruig, managing director of Risk & Compliance for Dow Jones & Company said. "Dow Jones Sanction Alert employs a customizable dataset and proprietary technology to help significantly reduce false positives and speed up investigations, allowing businesses to comply with the new international payment regulations without overextending their workforce or budget."
The Dow Jones Risk & Compliance Sanctions Team monitors international sanction lists 24 hours a day on a "follow-the-sun" basis from five research centers around the world. Dow Jones Sanction Alert clients benefit from strict quality controls and a comprehensive set of secondary identifiers which maximize efficient clearing of alerts whilst providing the greatest possible protection from risk.
"New regulations, heightened enforcement and internal budget pressure mean compliance and operations departments must implement new solutions to improve efficiency and effectiveness," de Ruig said. "Dow Jones Sanction Alert answers this requirement with a product that can be customized to meet firms' regulatory obligations and easily integrated into current compliance systems."
Dow Jones Sanction Alert will be showcased at Sibos 2009, September 14-18 in Hong Kong. Sibos attendees can visit Dow Jones in the exhibitor's hall at booth 3A01 for a demo and information.
For more information about Dow Jones Risk & Compliance, visit http://www.fis.dowjones.com/products/risk.html. To set up a meeting at Sibos or arrange a personal demonstration of Sanction Alert, email riskandcompliance@dowjones.com or call +1 800 369 0166 (in the U.S.), +44 203 217 5100 (in Europe) or +61 2 8272 4600 (in Australia and Asia).
About Dow Jones
Dow Jones & Company (http://www.dowjones.com/) is a subsidiary of News Corporation (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV; http://www.newscorp.com/). Dow Jones is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones owns 50% of SmartMoney and 33% of Stoxx Ltd. and provides news content radio stations in the U.S.
Dow Jones & Company
CONTACT: Kim Gagliardi of Dow Jones & Company, +1-603-864-8873, kimberly.gagliardi@dowjones.com
Web Site: http://www.dowjones.com/
Modevity Relies on Verizon Business for Cloud ComputingModevity ARALOC Web-Based Rights Management Solution Delivers Confidential Data While Controlling Costs
BASKING RIDGE, N.J., Sept. 1 /PRNewswire/ -- Modevity, a provider of content rights management solutions, was searching for a partner to help it more effectively and securely distribute confidential and proprietary content to its customers while controlling costs. Verizon Business' SMB Solutions team provided just the right answer.
Modevity will use Verizon Computing as a Service (CaaS), an on-demand, flexible solution that allows businesses of varying sizes to harness cloud (Web-based) computing to better manage IT resources and deliver exceptional performance and security that supports growth. In addition to these benefits, Modevity expects to see a significant positive impact on the company's bottom line as a result of its CaaS investment.
(Note: See related news release on Verizon expanding cloud-computing capabilities in Europe.)
"We are focused on continuing to grow Modevity in a smart way by making key resource decisions in terms of capital and staffing expenditures," said Tom J. Canova, co-founder and chief marketing officer for Modevity. "Moving to a virtual environment with Verizon Business allows us to consolidate our existing server hardware and software, and eliminates future purchasing and licensing costs in that area. It also allows us to add more staff in key areas - all while maintaining consistent, reliable service to our customers."
Verizon Business is providing Modevity with a comprehensive cloud-computing environment, supplying server hardware, bandwidth, load balancing, firewall network security, backup and managed services to support the Modevity ARALOC(TM) Content Rights Management hosted solution. A customer-facing, Web-based solution, ARALOC protects confidential, proprietary content from unauthorized viewing and misuse. Modevity's content rights management solution is ideally suited for companies in multiple industries including high tech, professional services, publishing, health care and pharmaceutical.
With Verizon Business' robust CaaS offering behind Modevity, the company can rely on Verizon Business to deliver secure and available infrastructure as a service. This frees up Modevity to invest in more strategic product development, research and development, and customer support initiatives.
"With Verizon Business as its partner, Modevity can grow its business strategically while relying on us to seamlessly power its customer applications," said James Geary, vice president of Verizon Business SMB sales. "Our world-class CaaS solution will allow Modevity to drive more value from its computing resources while controlling costs."
A key consideration in the selection of Verizon Business was its flexible delivery model and the ability to pay only for resources consumed. As a SaaS (software as a service) provider for content rights management product solutions, Modevity was keen to work with a partner that had a similar approach, as well as provided the flexibility to grow the infrastructure as its user base and global footprint grew.
Added Canova: "To continue to be successful, we have to keep our customers' ARALOC software fully functional and reliable 24 x 7. Verizon Business understands this, and in fact, Verizon Business delivers CaaS with the exact same approach we use for our customers. We are confident that in Verizon Business we have selected a cloud-computing leader, and that Verizon Business will serve as a true seamless extension of the Modevity team."
Verizon Business Offers Customers the Complete IT Services Package
CaaS is part of Verizon Business' extensive portfolio of IT and hosting solutions aimed at helping customers of all sizes improve their IT infrastructure and boost application performance in today's complex, dynamic business environment. Supported by a global team of professional services experts that deliver a broad range of world-class capabilities and backed by a secure and reliable technology infrastructure, these solutions allow customers to meet their most pressing IT needs. More information is available at http://www.verizonbusiness.com/us/itsolutions.
Verizon Business SMB Solutions Offers Best of Both Worlds
Verizon Business gives small- and mid-sized business customers the best of both worlds - enterprise-grade capabilities used by top global companies combined with tailored solutions and local accountability. In today's economy, it's vital that companies of every size harness technology to help them work more productively and efficiently. Verizon Business marries integrated solutions with a focus on reliability, simplicity and value to enable growing, entrepreneurial organizations to connect, communicate and collaborate. For more information, visit http://verizon.com/businesspower.
About Modevity, LLC:
Modevity, founded in 2004, is a leader in content rights management technology solutions. Modevity's ARALOC(TM) and Imperium(TM) rights management product solutions provide clients powerful 256 bit AES encryption technology with extensive content rights management controls and viewer reporting and analytics.
Modevity develops and provides industry leading product solutions on a software as a service basis (SaaS). Modevity is headquartered in West Chester, PA. Find our more at http://www.modevity.com/
About Verizon Business
Verizon Business, a unit of Verizon Communications , is a global leader in communications and IT solutions. We combine professional expertise with the world's most connected IP network to deliver award-winning communications, IT, information security and network solutions. We securely connect today's extended enterprises of widespread and mobile customers, partners, suppliers and employees -- enabling them to increase productivity and efficiency and help preserve the environment. Many of the world's largest businesses and governments -- including 96 percent of the Fortune 1000 and thousands of government agencies and educational institutions -- rely on our professional and managed services and network technologies to accelerate their business. Find out more at http://www.verizonbusiness.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 Business
CONTACT: Brianna Carroll Boyle, +1-703-859-4251, brianna.boyle@verizon.com; Clare Ward, +44 (0) 118 905 3501, clare.ward@uk.verizonbusiness.com; or Junaidah Dahlan, +65 6248 6827, junaidah.dahlan@sg.verizonbusiness.com
Web Site: http://www.verizonbusiness.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Epson Expands Its Award-Winning Large Format Printer Lineup With New 17-Inch Epson Stylus Pro 3880Compact 17-Inch Printer Delivers Unparalleled Print Quality and Performance with Epson UltraChrome K3 with Vivid Magenta Ink and New AccuPhoto HD2 Image Technology
LONG BEACH, Calif., Sept. 1 /PRNewswire-FirstCall/ -- Epson America today introduced its most sophisticated 17-inch printer to date - the Epson Stylus Pro 3880. Replacing its popular predecessor, the Epson Stylus Pro 3800, the compact printer features Epson UltraChrome K3 with Vivid Magenta ink technology and an advanced MicroPiezo AMC(TM) print head to produce gallery quality color and black-and-white output up to 17" x 22". Its innovative pigment ink set delivers an extremely wide color gamut with more dramatic blues and violets, while all-new AccuPhoto(TM) HD2 image technology provides smoother color transitions and better highlight and shadow detail.
"We continue to push the boundaries of professional printing with each new addition to Epson's line of large format ink jet printers," said Richard Day, product manager, Epson America. "The new Stylus Pro 3880 is no exception, enabling professionals to easily integrate a reliable, high-performing solution into their workflow. It brings together a host of technologies to provide photographers and graphic artists alike a powerful solution in one of the most compact sizes available."
About the Epson Stylus Pro 3880
Designed to provide unparalleled print quality, performance, and professional media support, the Epson Stylus Pro 3880 features several innovative technologies and enhancements, including:
-- UltraChrome K3 with Vivid Magenta Ink: Professional eight-color ink
set with new Vivid Magenta and Vivid Light Magenta provides more
intense blues and violets for an expanded color gamut. Built on
Epson's heritage of professional ink technology, this pigment ink set
offers instant color stability and exceptional print permanence
ratings for color and black-and-white prints.
-- AccuPhoto HD2 Image Technology: Created in collaboration with the
Rochester Institute of Technology's Munsell Color Science Laboratory,
this complex mathematical architecture and advanced screening
technology ensures precision placement of each individual ink droplet
for smooth, grain-free images. This advanced technology optimizes ink
usage to maximize the color gamut and provide smooth color transitions
and gradations, and reduction of the metameric index makes it possible
to achieve consistent color under different lighting conditions.
-- MicroPiezo AMC Print Head: The eight-channel, high-precision print
head produces a maximum resolution of 2880 x 1440 dpi and
variable-sized droplets as small as 3.5 picoliters and places them
with precision and accuracy. For decreased maintenance and increased
reliability, the print head also incorporates an ink repellent
coating.
-- Advanced Black and White Photo Mode: Exclusive Epson screening
provides intuitive and consistent control for stunning neutral or
toned black-and-white prints. Professionals can choose from one of
four pre-set modes - neutral, warm, cool, or sepia - and use custom
slider bars and a color tone wheel for advanced control. In addition,
customized settings can be saved and recalled to achieve consistent
prints.
-- Wide-Format Prints in Compact Design: Epson's expertise in
microminiaturization and professional printing technology allows this
compact, professional printer to optimize working space while
producing exhibition quality prints up to 17" x 22".
-- Auto-switching Black Inks: The Epson Stylus Pro 3880 automatically
switches between Photo and Matte black inks to produce the deepest
blacks and richest color on glossy, matte or fine art media.
-- Professional Cut-Sheet Media Handling: This printer provides broad
media support with BorderFree(TM) cut-sheet media handling from 4"x6"
to 17" x 22". The high-capacity paper feeder is designed for
photographic weight papers, while the top-loading single-sheet feeder
is optimized for fine art media. Also, the front loading
straight-through path accommodates art board up to 1.5 mm thick.
-- Intelligent High-Capacity Ink System: Nine individual 80 ml ink
cartridges with pressurized ink technology ensures reliable ink
delivery at all print speeds.
-- Epson PreciseColor(TM) Manufacturing: This rigorous process evaluates
and adjusts each printer's performance at the manufacturing stage to
ensure consistent color output, eliminating the need for internal
calibration devices.
For additional proofing and graphic needs, the Epson Stylus Pro 3880 is also available in a Graphic Arts Edition featuring a PANTONE -licensed ColorBurst Raster Image Processor and powerful print manager interface. This model delivers reliable color accuracy and advanced workflow control with built-in PANTONE colors featuring coated and uncoated libraries for versatile spot-color matching, and integrated ICC profiles for RGB, CMYK and grayscale images ensure complete color control.
Pricing, Availability and Support
The Epson Stylus Pro 3880 Standard Edition and Epson Stylus Pro 3880 Graphic Arts Edition (includes ColorBurst RIP) will be available in October 2009 through authorized resellers for $1,295 and $1,495 (MSRP) respectively. The Epson Stylus Pro 3880 is supported by a standard Epson Preferred(SM) Limited Warranty, a one-year program that includes toll-free advanced telephone access Monday through Friday and usually next-business-day service in the unlikely event of any hardware failure. Optional Epson Preferred Plus Service Plans are also available, offering one or two additional years of protection. For more information on the Epson Stylus Pro 3880, visit proimaging.epson.com.
About Epson America Inc.
Epson America Inc. is the U.S. affiliate of Japan-based Seiko Epson Corporation (SEC) and is a leading provider of digital imaging products that exceed the vision of its customers. The company's extensive range of printers, 3LCD projectors and small- and medium-sized LCDs are renowned for their superior quality, functionality, compactness, and energy efficiency. The Seiko-Epson organization is proud of its ongoing contributions to the global environment and was recently added to the Dow Jones Sustainability World Index, an indicator for leading companies in economic, environmental and social criteria.
Note: Epson, Epson Stylus, Epson UltraChrome K3, and MicroPiezo are registered trademarks of Seiko Epson Corp. AccuPhoto, AMC and PreciseColor are trademarks of Epson America Inc. Epson Preferred is a service mark of Epson America Inc. All other product brand names are trademarks and/or registered trademarks of their respective companies. Epson disclaims any and all rights in these marks.
Epson America Inc.
CONTACT: John Jatinen of Epson America Inc., +1-562-290-5173, John_Jatinen@ea.epson.com; or Jane Fainer of Walt & Company, +1-408-369-7200, ext. 1052, jfainer@walt.com, for Epson America Inc.
Web Site: http://www.epson.com/
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