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Companies news of 2013-01-31 (page 2)

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    Energizer Holdings, Inc. Announces First Quarter Results and Reaffirms Fiscal 2013 Outlook for Adjusted EPS of $6.75 to $7.00 and GAAP EPS of $5.60 to $6.10 per diluted shareFirst Quarter Highlights- Net Earnings per diluted share of $2.07- Adjusted net earnings per diluted share of $2.20 (a)- Net Sales of $1,192.5 million (b)(a) See Diluted EPS table below(b) See Net Sales -- Total Company table below

    ST. LOUIS, Jan. 31, 2013 /PRNewswire/ -- Energizer Holdings, Inc. today announced results for the first fiscal quarter ended December 31, 2012. Net earnings for the quarter were $129.8 million, or $2.07 per diluted share, as compared to net earnings of $143.8 million, or $2.15 per diluted share, in the first fiscal quarter of 2012. Average diluted shares outstanding were 62.6 million for the first fiscal quarter of 2013, down 4.3 million shares as compared to the same quarter in the prior fiscal year due to the timing of share repurchases in fiscal 2012.

    The following table provides a reconciliation of net earnings and net earnings per diluted share to adjusted net earnings and adjusted net earnings per diluted share, which is a non-GAAP measure.

    Quarter Ended December 31, Net Earnings Diluted EPS ------------ ----------- 2012 2011 2012 2011 ---- ---- ---- ---- Net Earnings/Diluted EPS -GAAP $129.8 $143.8 $2.07 $2.15 Impacts, net of tax: Expense/(Income) 2013 restructuring 30.7 - 0.49 - Pension curtailment (23.5) - (0.37) - Prior restructuring - (7.6) - (0.11) Other realignment / integration 0.7 0.9 0.01 0.01 Net Earnings/Diluted EPS - adjusted (Non-GAAP) $137.7 $137.1 $2.20 $2.05 ====== ====== ===== ===== Weighted average shares - Diluted $62.6 $66.9

    "Earnings for the quarter slightly exceeded our expectations," said Ward Klein, Chief Executive Officer. "Despite top-line challenges in our Personal Care division due to heightened competitive promotional activity, our Hydro franchise continues to grow and to show strong repeat purchases. Furthermore, we have several innovative products that are launching this quarter that we anticipate will positively impact the top-line growth in fiscal 2013. In addition, our restructuring plans remain on track to achieve $25 to $35 million in savings for fiscal 2013. We are maintaining our fiscal 2013 financial outlook range for adjusted diluted earnings per share of $6.75 to $7.00, including estimated net cost savings from our restructuring efforts in fiscal 2013, but excluding restructuring costs."

    Net Sales - Total Company (In millions - Unaudited) Quarter Ended December 31, 2012 Q1 %Chg --- ---- Net Sales -FY '12 $1,198.1 Organic (2.7) (0.3)% Impact of currency (2.9) (0.2)% Net Sales -FY '13 $1,192.5 (0.5)% ======== =====

    For the first fiscal quarter of 2013, lower sales from category and market share declines in battery and the unfavorable impact of heightened competitive activity in Wet Shave were offset by incremental volume from the impact of Hurricane Sandy. Excluding the incremental volume related to Hurricane Sandy, the Company estimates organic sales declined 1.7% in the quarter, with Personal Care down 1.4% and Household Products down 2.0%.

    Gross margin for the quarter ended December 31, 2012, was 47.1%, which was flat versus the same quarter in the prior year as favorable pricing in Household Products offset unfavorable product mix. Overall, product costs were flat with the prior year as modest favorability in commodity costs were offset by unfavorable currency exchange, and the impact of certain promotional and project costs included in cost of products sold.

    For the quarter, advertising and sales promotion (A&P) was $94.8 million, or 7.9% of net sales, which was essentially flat in both dollars and as a percent of net sales as compared to $96.4 million, or 8.0% of net sales in the prior year quarter. The timing of advertising and sales promotion for fiscal 2013 is impacted, in part, by the timing of new product initiatives, including the upcoming launch of Schick Hydro Disposables in the second fiscal quarter of 2013.

    Total selling, general and administrative expense (SG&A) was $200.5 million, or 16.8% of net sales, for the current year quarter as compared to $214.1 million, or 17.9% of net sales, for the prior year quarter. SG&A expenses were lower for the quarter as a result of effective spending controls, lower compensation costs and the impact of the change in the underlying value of the Company's unfunded deferred compensation liabilities as compared to the change in the prior year quarter.

    Personal Care

    Net Sales - Personal Care (In millions - Unaudited) Quarter Ended December 31, 2012 Q1 %Chg --- ---- Net Sales - FY '12 $564.4 Organic (8.0) (1.4)% Impact of currency (2.1) (0.4)% Net Sales - FY '13 $554.3 (1.8)% ====== =====

    For the quarter, net sales decreased 1.8% including the unfavorable impact of currencies. Organic sales declined 1.4% due primarily to the following:

    --  Wet Shave net sales decreased 3.9% on a reported basis, and 3.3%
    operationally in the quarter.  Sales of Schick Hydro men's systems
    continued to grow, up 26% in the quarter, on higher refill volume,
    higher Schick Hydro Power razor sales and lower promotional spending.
    Additionally, incremental Schick Hydro Silk sales offset the sales
    decline in legacy women's systems in the quarter.  These increases were
    more than offset by sales declines in disposables, men's legacy systems
    and shave preps due, in part, to heavy competitive promotional activity,
    and
    --  Collectively, all other Personal Care product categories increased 3.8%
    on a reported basis, and 3.6% operationally in the quarter, which
    partially offset the decline in Wet Shave.  The key drivers of the
    increase in the product categories other than Wet Shave were higher
    shipments in Skin Care, Feminine Care and Litter Genie.  These sales
    gains were partially offset by lower sales in Infant Care due to
    continued category weakness and competitive activity.
    

    Segment Profit - Personal Care (In millions - Unaudited) Quarter Ended December 31, 2012 Q1 %Chg --- ---- Segment Profit -FY '12 $123.5 Operations (7.7) (6.2)% Impact of currency 0.4 0.3% --- Segment Profit -FY '13 $116.2 (5.9)% ====== =====

    Segment profit for the quarter was $116.2 million, down 5.9%. The decrease in segment profit for the quarter was due to lower margin as a result of the lower Wet Shave sales noted above. The reduction in segment profit due to lower sales margin was partially offset by lower overhead spending in the quarter.

    Household Products

    Net Sales - Household Products (In millions - Unaudited) Quarter Ended December 31, 2012 Q1 %Chg --- ---- Net Sales - FY '12 $633.7 Organic 5.3 0.8% Impact of currency (0.8) (0.1)% ---- Net Sales- FY '13 $638.2 0.7% ====== ===

    Net sales increased 0.7% on a reported basis, and 0.8% organically in the quarter. This organic growth was driven by incremental volume related to the impact of Hurricane Sandy. The Company believes the storm and its aftermath resulted in approximately $18 million of incremental sales in the quarter, as the Company responded to meet the needs for portable power throughout the affected region. Excluding the impact of this incremental storm volume, organic sales declined approximately 2% in the quarter due to continued category declines, exclusive of the storm impact, and lower market share in the U.S. due primarily to the previously disclosed loss in display and shelf space at a key U.S. retailer. These declines were partially offset by improved pricing.

    We estimate that the global battery category declined approximately 2% in volume and was down approximately 0.5% in value during the latest 12 weeks, excluding the impact of Hurricane Sandy, as a continued downward trend in unit volume for the current year quarter was partially offset by the positive impact of pricing actions implemented in fiscal 2012. We will anniversary the 2012 pricing actions in the second fiscal quarter of 2013. Thus, we expect that the trend in category value will more closely align with the unit volume trend as we move through the remainder of the fiscal year.

    Segment Profit - Household Products (In millions - Unaudited) Quarter Ended December 31, 2012 Q1 %Chg --- ---- Segment Profit -FY '12 $148.8 Operations 11.8 7.9% Impact of currency - - --- Segment Profit -FY '13 $160.6 7.9% ====== ===

    Segment profit for the quarter was $160.6 million, up $11.8 million, or 7.9%, versus the same quarter last year due primarily to the impact of the incremental margin from the hurricane volume noted above. In addition, segment profit increased, exclusive of the incremental hurricane margin, as both A&P and overhead spending were lower in the current year quarter.

    Other Items

    Interest expense was $33.5 million for the quarter as compared to $29.9 million for the same quarter in the prior fiscal year. The fiscal 2013 quarter result is higher than the prior year quarter due to a combination of higher average debt outstanding, resulting in part from share repurchases in fiscal 2012 and somewhat higher average rates as a result of issuing ten-year public notes that replaced the lower-rate, maturing term loan.

    Other financing expense was $7.9 million for the first fiscal quarter of 2013. This cost was due primarily to foreign exchange losses related primarily to the strengthening of the U.S. dollar in relation to the Japanese Yen.

    For the first fiscal quarter of 2013, the Company's effective tax rate was 31.2%, which was essentially flat with the prior year quarter.

    For the quarter, capital expenditures were approximately $15 million and depreciation expense was approximately $37 million, inclusive of approximately $4 million of accelerated depreciation on assets currently in operation at certain facilities, which will be impacted by our 2013 restructuring initiatives. In addition, impairment charges of approximately $19 million were recognized in the first quarter and related primarily to anticipated plant closures as a result of the 2013 restructuring.

    2013 Restructuring Plan

    The 2013 Restructuring Plan is progressing, and the Company continues to forecast gross annualized pre-tax cost savings of approximately $200 million as a result of this plan, with costs in the range of $250 million. The Company continues to expect that nearly three quarters of the savings should improve profitability, and the remaining portion of the savings to be re-invested in the business to drive long-term growth. Finally, the Company anticipates that a substantial portion of the actions necessary to achieve the targeted savings should be completed by the end of fiscal 2014 and the total on-going savings realized in fiscal 2015.

    Given the timing of the approval of the plan, we anticipate that the savings will start to be realized in the second quarter of fiscal 2013. We are forecasting that restructuring savings for the remainder of fiscal 2013 should be in the range of $25 to $35 million, consistent with our initial financial outlook estimate.

    For the first quarter of fiscal 2013, the Company recorded $49.0 million of charges related to the 2013 Restructuring Plan including:

    --  Non-cash asset impairment charges of $19.3 million and accelerated
    depreciation charges of $4.1 million related primarily to anticipated
    plant closures,
    --  Severance and related benefit costs of $13.6 million associated with
    staffing reductions that have been identified to date, and
    --  Consulting and other charges including project management costs of $12.0
    million related specifically to the restructuring project and certain
    enabling activities.
    

    The Company estimates that restructuring costs for the remainder of fiscal 2013 will be in the range of $70 to $90 million. The 2013 restructuring and related charges are reported as a separate line in the Consolidated Statements of Earnings (Condensed).

    Working Capital Update

    As previously disclosed, we are committed to improving working capital as a percent of sales in excess of 400 basis points, as compared to our fiscal year 2011 baseline metric of 22.9%. This would result in a reduction of more than $200 million of working capital. We are targeting completion of the actions required to drive this improvement by the end of fiscal 2013, with full benefit achieved in fiscal 2014.

    As shown on the attachments to this press release, working capital as a percent of net sales for the trailing four quarters ending December 31, 2012 was 20.9%, an improvement of 50 basis points versus the comparable measure at fiscal year end 2012 and an improvement of 200 basis points versus our fiscal 2011 baseline metric. While the pace of improvement will vary by the component of working capital, we are seeing steady improvement in Days Payable Outstanding and a modest improvement in Days Sales Outstanding.

    The company expects to experience a temporary increase in inventory days as we execute certain Household Products manufacturing footprint changes as part of our 2013 restructuring. We will provide insight on the level of these temporary inventory builds in our quarterly updates, when such impacts are considered material to the baseline comparative.

    Fiscal 2013 Financial Outlook

    The Company's financial outlook for adjusted, diluted earnings per share remains in the range of $6.75 to $7.00 for fiscal 2013. This outlook includes estimated net pre-tax restructuring savings of $25 to $35 million for fiscal 2013, excludes the impact of estimated restructuring costs of $120 to $140 million for fiscal 2013 and does not assume any share repurchases during the fiscal year.

    Within Personal Care, our sales expectation remains consistent with our initial financial outlook in November, which was mid-single digit sales growth driven by innovation across our categories, especially in Wet Shave and Skin Care. As expected, this innovation pipeline did not have a material impact in the first fiscal quarter. For Household Products we continue to expect a low-single digit sales decline for the remainder of the fiscal year, driven by continuing category volume declines and some additional impact, most notably in the second fiscal quarter, from the previously discussed shelf space and display losses in the U.S. nearly one year ago.

    On a GAAP basis, the Company's financial outlook for GAAP diluted earnings per share is in the range of $5.60 to $6.10, inclusive of both the estimates for pre-tax restructuring savings and pre-tax restructuring costs noted above, and includes the pension curtailment gain recorded in the first fiscal quarter of 2013.

    Webcast Information

    In conjunction with this announcement, the Company will hold an investor conference call beginning at 10:00 a.m. eastern time today. The call will focus on first-quarter earnings and earnings guidance for fiscal 2013. All interested parties may access a live webcast of this conference call at www.energizerholdings.com, under "Investors", "Investor Information", and "Webcasts and Presentations" tabs or by using the following link:

    http://www.media-server.com/m/acs/ed795df24b93616f57c5b91634cc1a24

    For those unable to participate during the live webcast, a replay will be available on www.energizerholdings.com, under "Investors", "Investor Information", "Webcasts and Presentations", and "Audio Archives" tabs.

    Non-GAAP Financial Measures. While the Company reports financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"), this discussion includes non-GAAP measures. These non-GAAP measures, such as historical and forward-looking adjusted diluted earnings per share, operating results, organic sales and other comparison changes, which exclude the impact of currencies, the acquisition of ASR including related integration and transaction costs, the costs associated with restructuring, a gain on the sale of a facility closed as a result of restructuring, unusual litigation items, costs associated with the early retirement of debt and early termination of related interest rate swaps, the impact of accounting rules on our Venezuelan operations, prior years' tax accruals, pension curtailment and certain other items as outlined in the table below are not in accordance with, nor are they a substitute for, GAAP measures. The Company believes these non-GAAP measures provide a meaningful comparison to the corresponding historical or future period and assist investors in performing analysis consistent with financial models developed by research analysts. Investors should consider non-GAAP measures in addition to, not as a substitute for, or superior to, the comparable GAAP measures.

    Forward-Looking Statements. This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, statements regarding future company-wide or segment sales, earnings and earnings per share, investments, capital expenditures, product launches, consumer trends, cost savings related to restructuring projects, costs necessary to achieve those savings and the timing of such savings, improvements to working capital levels and the timing and savings associated with such improvements, the impact of price increases, advertising and promotional spending, the impact of foreign currency movements, category value and future growth in our businesses. These statements generally can be identified by the use of forward-looking words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results, performance or achievements to differ materially from those expressed in or indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation:

    --  General market and economic conditions;
    --  The success of new products and the ability to continually develop new
    products;
    --  Energizer's ability to predict category and product consumption trends;
    --  Energizer's ability to continue planned advertising and other
    promotional spending;
    --  Energizer's ability to attract and retain key customers;
    --  Energizer's ability to timely execute its strategic initiatives,
    including restructurings, in a manner that will positively impact our
    financial condition and results of operations and does not disrupt our
    business operations;
    --  The impact of strategic initiatives, including restructurings, on
    Energizer's relationships with its employees, its major customers and
    vendors;
    --  Energizer's ability to maintain and improve market share in the
    categories in which we operate despite competitive pressure;
    --  Energizer's ability to improve operations and realize cost savings;
    --  The impact of raw material and other commodity costs;
    --  The impact of foreign currency exchange rates and offsetting hedges on
    Energizer's profitability;
    --  Compliance with debt covenants as well as the impact of interest and
    principal repayment of our existing and any future debt;
    --  The impact of legislative or regulatory determinations or changes by
    federal, state and local, and foreign authorities, including taxing
    authorities.
    

    In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. The list of factors above is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Additional risks and uncertainties include those detailed from time to time in Energizer's publicly filed documents, including its annual report on Form 10-K for the year ended September 30, 2012.



    ENERGIZER HOLDINGS, INC. STATEMENT OF EARNINGS (Condensed) (In millions, except per share data - Unaudited) Quarter Ended December 31, 2012 2011 ---- ---- Net sales $1,192.5 $1,198.1 Cost of products sold 630.9 633.6 ----- ----- Gross profit 561.6 564.5 Selling, general and administrative expense 200.5 214.1 Advertising and sales promotion expense 94.8 96.4 Research and development expense 24.6 25.6 2013 restructuring 49.0 - Pension curtailment (37.4) - Prior restructuring - (9.2) Interest expense 33.5 29.9 Other financing expense/(income), net 7.9 (0.7) --- ---- Earnings before income taxes 188.7 208.4 Income tax provision 58.9 64.6 ---- ---- Net earnings $129.8 $143.8 ====== ====== Earnings per share Basic $2.10 $2.17 Diluted $2.07 $2.15 Weighted average shares of common stock -Basic 61.8 66.2 ---- ---- Weighted average shares of common stock -Diluted 62.6 66.9 ---- ----

    See Accompanying Notes to Unaudited Condensed Financial Statements Energizer Holdings, Inc. Notes to Condensed Financial Statements December 31, 2012 (In millions, except per share data - Unaudited) 1. Operating results for any quarter are not necessarily indicative of the results for any other quarter or the full year. 2. Operations for the Company are managed via two segments - Personal Care (Wet Shave, Skin Care, Feminine Care and Infant Care) and Household Products (Battery and Portable Lighting). Segment performance is evaluated based on segment operating profit, exclusive of general corporate expenses, share-based compensation costs, costs associated with most restructurings including the recently announced 2013 Restructuring Plan, acquisition integration or business realignment activities, and amortization of intangible assets. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion from segment results of charges such as inventory write-up related to purchase accounting, if any, other acquisition transaction and integration costs, and substantially all restructuring and realignment costs, reflects management's view on how it evaluates segment performance. The Company's operating model includes a combination of stand-alone and combined business functions between the Personal Care and Household Products businesses, varying by country and region of the world. Shared functions include product warehousing and distribution, various transaction processing functions, and in most countries, a combined sales force and management. The Company applies a fully allocated cost basis, in which shared business functions are allocated between the segments. Such allocations do not represent the costs of such services if performed on a stand-alone basis. For the quarter ended December 31, 2012, the Company recorded pre-tax expense of $49.0 related to its 2013 restructuring. These costs were reported on a separate line in the Consolidated Statements of Earnings (Condensed). In the first quarter of fiscal 2013, the Company approved and communicated changes to its U.S. pension plan, which is the most significant of the Company's pension obligations. Effective January 1, 2014, the pension benefit earned to date by active participants under the legacy Energizer U.S. pension plan will be frozen and future service benefits will no longer be accrued under this retirement program. For the quarter ended December 31, 2012, the Company recorded a pre-tax curtailment gain of $37.4 as a result of this plan change. The pension curtailment gain was reported on a separate line in the Consolidated Statements of Earnings (Condensed). For the prior year fiscal quarter, our prior Household Products restructuring activities generated pre-tax income of $9.2 due to the gain on the sale of our former battery manufacturing facility in Switzerland, which was shut down in fiscal 2011. This gain was partially offset by $3.6 of additional restructuring costs. Segment sales and profitability for the quarter ended December 31, 2012 and 2011, respectively, are presented below.

    Quarter Ended December 31, Net Sales 2012 2011 ---- ---- Personal Care $554.3 $564.4 Household Products 638.2 633.7 ----- ----- Total net sales $1,192.5 $1,198.1 ======== ======== Operating Profit Personal Care $116.2 $123.5 Household Products 160.6 148.8 ----- ----- Total operating profit 276.8 272.3 General corporate and other expenses (29.5) (38.2) 2013 restructuring (49.0) - Pension curtailment 37.4 - Prior restructuring - 9.2 Amortization of intangibles (5.6) (5.7) Interest and other financing items (41.4) (29.2) ----- ----- Total earnings before income taxes $188.7 $208.4 ====== ======

    Supplemental product information is presented below for revenues from external customers:

    Quarter Ended December 31, % Net Sales 2012 2011 Change ---- ---- ------ Alkaline batteries $401.7 $393.8 2% Wet Shave 394.5 410.5 (4)% Other batteries and lighting products 236.5 239.9 (1)% Skin Care 63.1 56.7 11% Feminine Care 42.0 42.1 - Infant Care 41.0 44.7 (8)% Other personal care products 13.7 10.4 32% ---- ---- --- Total net sales $1,192.5 $1,198.1 (0.5)% ======== ======== =====

    3. Basic earnings per share is based on the average number of common shares outstanding during the period. Diluted earnings per share is based on the average number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of stock options and restricted stock equivalents. 4. Working Capital Metrics at September 30, 2011 as compared to December 31, 2012, respectively, are presented below.

    Fiscal '11 Baseline Working Capital Metrics ($ in millions) FY '11 Days ------ ---- Working Capital Improvement Objective: Receivables, as $717.5 --improve working capital reported (1) investment in all three major working capital categories Less: Trade allowance in accrued liabilities (96.6) ----- Receivables, adjusted (2) 620.9 48.8 --Targeted working capital reduction of more than $200 million v. FY'11 baseline Inventories 697.1 101.7 Accounts Payable 253.4 37.0 --improve working capital as a % of net sales by more than 400 basis points versus FY '11 baseline. ----- Average Working Capital, net (3) $1,064.6 --improvements targeted by the end of fiscal '13 for full benefit in FY '14 Average Working Capital as % of Net Sales (4) 22.9%

    (1) Receivables reflects reclass adjustments disclosed in Q2 2012, for all quarters in fiscal 2011. (2) Trade receivable adjusted for trade allowance recorded as a reduction of net sales per US GAAP, but included in accrued expenses on the consolidated balance sheet. (3) Average Working Capital for FY '11 calculated using an average of the four quarter end balances for each working capital component. (4) Average Working Capital /FY '11 net sales.

    Q1 Fiscal '13 Working Capital Metrics ($ in millions) FY '13 Days ------ ---- Receivables, as reported $684.4 Less: Trade allowance in accrued liabilities (105.3) ------ Receivables, adjusted (1) $579.1 46.3 Inventories 666.6 100.3 Accounts Payable 293.9 44.2 ----- Average Working Capital, net (2) $951.8 Average Working Capital as % of Net Sales (3) 20.9%

    (1) Trade receivable adjusted for trade allowance recorded as a reduction of net sales per US GAAP, but included in accrued expenses on the consolidated balance sheet. (2) Average Working Capital for FY '13 Q1 calculated using an average of the four quarter end balances for each working capital component. (3) Average Working Capital /Trailing 4 Quarter net sales. Statements in this Working Capital Comparative are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties which could cause actual performance or achievements to differ materially from those expressed in or indicated by those statements. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-

    Energizer Holdings, Inc.

    CONTACT: Jacqueline E. Burwitz, Vice President, Investor Relations,
    +1-314-985-2169, Jacquelinee.burwitz@energizer.com

    Web site: http://www.energizer.com/




    China Distance Education Holdings Limited Files Annual Report on Form 20-F

    BEIJING, Jan. 31, 2013 /PRNewswire/ -- China Distance Education Holdings Limited ("CDEL", or the "Company"), a leading provider of online education in China focusing on professional education, today announced that it has filed its annual report on Form 20-F for the fiscal year ended September 30, 2012 with the Securities and Exchange Commission. The annual report can be accessed on the Company's investor relations website at http://ir.cdeledu.com under the section titled "Financials - Annual Reports."

    CDEL will provide a hard copy of its complete audited financial statements for the fiscal year ended September 30, 2012, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to our IR representatives stated below, or in writing to China Distance Education Holdings Limited, 18th Floor, Xueyuan International Tower, 1 Zhichun Road, Haidian District, Beijing China, 100083.

    About China Distance Education Holdings Limited

    China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. The courses offered by the Company through its websites are designed to help professionals and other course participants obtain and maintain the skills, licenses and certifications necessary to pursue careers in China in the areas of accounting, law, healthcare, construction engineering, and other industries. The Company also offers online test preparation courses to self-taught learners pursuing higher education diplomas or degrees and to secondary school and college students preparing for various academic and entrance exams. In addition, the Company offers online foreign language courses and offline business start-up training courses.

    Contacts:

    China Distance Education Holdings Limited Investor Relations: Lingling Kong, IR manager Bill Zima Tel: +86-10-8231-9999 ext1805 ICR Inc. Email: IR@cdeledu.com Tel: +1 646-328-2550

    China Distance Education Holdings Limited

    Web site: http://ir.cdeledu.com/




    Gartner Recognizes OpenText in Business Process Management Suites Report

    New research report evaluates the ability of vendors to address all four BPMS use case scenarios

    WATERLOO, ON, Jan. 31, 2013 /PRNewswire/ - OpenText(TM) , a leading provider of Enterprise Information Management (EIM) solutions, today announced that leading research analyst firm Gartner has recognized OpenText in its recent research report Market Update: Match BPMS Vendors to Your Usage Scenarios(1). OpenText delivers across the four key BPMS customer usage scenarios which Gartner has identified as: specific process-based solutions, redesign for process-based SOA, continuous process improvement and business transformation.

    According to Gartner's report, "BPMSs work best when matched to the needs of specific usage scenarios...For business process improvement leaders, business process directors, application managers, solution architects and CIOs involved in the selection of BPMS providers, this research provides input into their evaluations. This analysis will help clients develop a better shortlist of providers that most closely match their usage scenarios today and in the next few years."

    The report provides a current snapshot of the BPMS market and includes an assessment of 32 vendors, including OpenText, mapping each vendor to the usage scenarios they support. OpenText was one of a small handful of BPMS solution providers recognized in the report for its ability to successfully deliver across all four scenarios. The flexible skills inventory, designed to facilitate case and task assignment was also included in OpenText's assessment.

    "We believe the findings in Gartner's new BPMS Market Update underscore our ability to deliver powerful solutions that help businesses transform the way work gets done," said Steve Russell, senior vice president of OpenText Business Process Management. "In addition to delivering innovative solutions that support the four use case scenarios Gartner highlights, we have further strengthened our BPM offerings by integrating them with our powerful content management (OpenText Content Server), customer communication management (OpenText StreamServe), and capture (OpenText Capture Center) solutions. This level of integration is unparalleled in the BPM marketplace and enables us to deliver on OpenText's EIM strategy as well as drive greater value to our customers across the entire process lifecycle."

    For further information on OpenText Business Process Management (BPM) offerings, please visit: http://www.opentext.com/2/global/products/business-process-management.htm and the Because Process Matters blog at www.becauseprocessmatters.com.

    Follow OpenText on Twitter @opentext and on Facebook at www.facebook.com/opentext.

    Market Update: Match BPMS Vendors to Your Usage Scenarios, Published: 24 December 2012
    Analyst(s): Janelle B. Hill, Jim Sinur, W. Roy Schulte, Nicholas Gall, Teresa Jones

    About OpenText

    OpenText provides Enterprise Information Management software that enables companies of all sizes and industries to manage, secure and leverage their unstructured business information, either in their data center or in the cloud. Over 50,000 companies already use OpenText solutions to unleash the power of their information. To learn more about OpenText , please visit: www.opentext.com.

    Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Copyright (C)2013 Open Text Corporation. OpenText is a trademark or registered trademark of Open Text SA and/or Open Text ULC. The list of trademarks is not exhaustive of other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text SA or other respective owners. All rights reserved. For more information, visit: http://www.opentext.com/2/global/site-copyright.html_SKU.

    Open Text Corporation

    CONTACT: Peter Gorman
    OpenText
    +1 617-669-4329
    PublicRelations@OpenText.com

    Adrian Eyre
    Ogilvy Public Relations for OpenText
    +1 415-677-2708
    OPR_OpenText@ogilvy.com




    Kenyan Universities Work With IBM To Develop IT Leaders Of The Future

    NAIROBI, Kenya, Jan. 31, 2013 /PRNewswire/ -- In an effort to meet the growing demand for highly skilled IT professionals, three of Kenya's leading universities are teaming with IBM to create an advanced educational and training environment. These partnerships will help students develop critical Information and Communications Technologies (ICT) skills in areas such as analytics, cyber security, big data, social business and cloud.

    (Logo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO)

    As part of the collaboration, Jomo Kenyatta University of Agriculture and Technology (JKUAT), Riara University and Strathmore University will have access to the latest enterprise software and systems. Faculty will have no-charge access to an extensive library of IT curricula for computer science, business and other degree programs and be able to participate in ongoing training opportunities. Students will also have access to IBM experts and real-world case studies from a range of industries.

    "In the next five years, we expect IT enabled services to contribute 25 percent of the Kenyan GDP. We therefore need to develop massive human resource capacity in ICTs and nurture talented and skilled people to ensure that all Kenyan graduates are ready for the highly technical workplace," said Dr. Bitange Ndemo, permanent secretary of the Kenyan ministry for ICT. "This is the primary reason why we are aggressively partnering with the private sector to improve skills within ICT."

    The IT industry is expected to grow by 11 percent annually in Kenya, creating a need for highly-skilled professionals capable of driving IT innovation and entrepreneurship. By bringing the latest enterprise technology and real-world scenarios into the classroom, students will gain market-ready skills and be better prepared to meet the needs of Kenya's growing IT market.

    "We at Riara University are committed to nurturing innovators whilst inculcating a spirit of excellence, research and human resource development; such partnerships with leading innovators are critical to achieving our vision," said Professor Kiarie Mwaura, vice chancellor, Riara University.

    With the rapidly evolving technology landscape and increased financial pressures, the ability of universities to quickly respond to shifting market needs is challenging. Public sector-academic partnerships help universities produce graduates who have the right skills at the right time to meet market demands. With today's news, Jomo Kenyatta University of Agriculture and Technology, Riara University and Strathmore University will have access to technology used in businesses around the world and the resources to put new course modules into place quickly.

    As more organizations turn to technology to solve tough business challenges, the need for skilled IT professionals continues to grow in all industries around the world. Strengthening the IT skills base at the university level will help students drive local economic growth and innovation and prepare them to compete in the global IT market.

    "This partnership with IBM will help build the next generation of IT business leaders and entrepreneurs by fostering innovation, local application of the latest technological advances and knowledge of industrial best practices. This is in line with Kenya's development goals as outlined in the Vision 2030 framework," said Dr. George Njenga, deputy vice-chancellor and dean for research at Strathmore University. "This partnership aspires to aid in the development of the relevant skills in the classroom that will rapidly accelerate learning and keep students and scholars at par with the fast-paced growth of the world IT market."

    According to Dr. Muliaro Wafula, the director for ICT at the Jomo Kenyatta University of Agriculture and Technology, "this collaboration will drive our efforts in offering quality and relevant training, research and innovation in ICT through our Institute of Computer Science and Information Technology."

    "Working with universities is a way to speed up the skills development required for the next generation of experts that companies such as IBM and other international and local enterprises need to enhance and grow the IT sector in Kenya," said Tony Mwai, IBM general manager for East Africa. "Curriculum development and collaborative research reaches a much wider student population."

    This collaboration with three Kenyan universities includes the IBM Global Academic Initiative. Recently, IBM expanded this program to provide faculty with new resources in the areas of cyber security, big data, commerce and mobile computing. There are more than 30,000 global university faculty that use the no-charge resources in the IBM Academic Initiative to help close the IT skills gap. The program endeavors to support universities as they strengthen their educational programs so graduates can compete at the top of any industry.

    The 2012 IBM Tech Trends Report reveals that only 1 in 10 managers feel that his/her organization has the right combination of business and technology skills to be positioned for growth. Meanwhile, nearly half of surveyed educators and students identified a major gap in their institution's current ability to teach those skills.

    For more information:
    About JKUAT: www.jkuat.ac.ke
    About Riara University: www.riarauniversity.ac.ke
    About Strathmore University: www.strathmore.edu
    About IBM's academic & skills initiatives: www.ibm.com/press/skills

    Media Contact
    Vera Rosauer
    IBM Media Relations
    VERAROS@ke.ibm.com
    +254-737-537-030

    Photo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO
    PRN Photo Desk, photodesk@prnewswire.com IBM

    Web site: http://www.ibm.com/




    Fusion ioScale Accelerates Checkouts in the Cloud as China's Alipay Processes World Record One-Day SalesChina's Leading Online Payment System Supports Over $3 Billion USD in Sales on Singles Day 2012, China's Biggest Online Shopping Day of the Year

    SALT LAKE CITY and BEIJING, Jan. 31, 2013 /PRNewswire/ -- Fusion-io today announced that Alibaba Group company Alipay, China's leading third party online payment system, scaled its datacenter servers with the newly available Fusion ioScale to support the equivalent of a world record $3.06 billion dollars USD in one-day online sales on Singles Day 2012, China's largest shopping day of the year. Alipay processed 105.8 million payments on the 'single digit' day of November 11, 2012 (11/11), with a quarter of shoppers making purchases from mobile accounts.

    "Alipay's outstanding success showcases that they are a world leader in designing e-commerce architecture to meet customer demand for flexible shopping from any screen," said Neil Carson, Fusion-io Chief Technology Officer. "The Alipay team delivers services that integrate payment seamlessly with the shopping experience, and shoppers trust they can securely use Alipay to quickly and easily make their purchases online. With Fusion ioScale products in Alipay servers, databases can respond at the speeds needed to meet demand even when breaking world records for one-day sales."

    With a user base of over 800 million accounts, Alipay is a preferred online payment tool of customers and Internet merchants thanks to its flexible user experience and rapid, secure service across screens from desktops to tablets to smartphones. In addition to the leading Chinese retail websites Taobao and Alibaba.com, Alipay provides payment solutions in China for more than 450,000 external merchants for online retail, virtual gaming, digital communications, commercial services, air ticketing and utilities fee payment transactions. On Alibaba Group websites alone, the Alipay infrastructure supported three times more Singles Day sales than the record-breaking one billion dollars comScore reported was spent online on Black Friday 2012 in the United States.

    "With the speed and convenience of payment services like Alipay, Chinese customers are rapidly embracing e-commerce as a primary shopping channel," said Jingming Li, Alipay Chief Technology Officer. "Customers are also becoming increasingly mobile, as one in four made purchases on Alibaba Group websites from a tablet or smartphone this year, compared to one in six last year. Our team is very proud that even when supporting unprecedented traffic, our scalable architecture ensured customers could make payments for goods and services without delay."

    Now available in minimum order quantities of 100 units, the Fusion ioScale provides up to 3.2 terabytes of Fusion ioMemory performance tuned for the unique needs of hyperscale environments. Alipay deployed Fusion ioScale in its servers to accelerate its Oracle and MySQL databases.

    Follow Fusion-io on Twitter at www.twitter.com/fusionio or on Facebook at www.facebook.com/fusionio.

    About Fusion-io
    Fusion-io delivers the world's data faster. Our Fusion ioMemory platform and software defined storage solutions accelerate virtualization, databases, cloud computing, big data and performance applications. From e-commerce retailers to the world's social media leaders and Fortune Global 500 companies, our customers are improving the performance and efficiency of their data centers with Fusion-io technology to accelerate the critical applications of the information economy.

    Note on Forward-looking Statements
    Certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but are not limited to, statements concerning Fusion ioMemory products, including Fusion ioScale, and software defined storage solutions and the anticipated benefits our products, software and technology for users. These statements are based on current expectations and assumptions regarding future events and business performance and involve certain risks and uncertainties that could cause actual results to differ materially from those contained, anticipated, or implied in any forward-looking statement, including, but not limited to, the risks that the users of our products and software may not realize the anticipated benefits, and such other risks set forth in the registration statements and reports that Fusion-io files with the U.S. Securities and Exchange Commission, which are available on the Investor Relations section of our website at www.fusionio.com. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or will occur. Fusion-io undertakes no obligation to update publicly any forward-looking statement for any reason after the date of this press release.

    CONTACTS Robert Brumfield Nancy Fazioli Media Relations Investor Relations 917.224.7769 650.224.8291 bbrumfield@fusionio.com ir@fusionio.com

    Fusion-io

    Web site: http://www.fusionio.com/
    http://global.alipay.com/




    KEMET Reports Third Quarter Fiscal Year 2013 Results

    GREENVILLE, S.C., Jan. 31, 2013 /PRNewswire/ -- KEMET Corporation (the "Company") , a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today reported preliminary results for the third fiscal quarter ended December 31, 2012.

    Net sales for the third quarter of fiscal year 2013 were $200.3 million and, on a U.S. GAAP basis, the net loss was $14.3 million, or $0.32 loss per basic and diluted share for the third quarter of fiscal year 2013 compared to a net loss of $27.8 million or $0.62 loss per basic and diluted share for the third quarter of fiscal year 2012. The net loss for the third quarters of fiscal year 2013 and 2012 include various items affecting comparability as denoted in the U.S. GAAP to Non-U.S. GAAP reconciliation below.

    Non-U.S. GAAP adjusted net loss was $2.2 million or $0.05 loss per basic and diluted share for the third quarter of fiscal year 2013 compared to a $6.2 million or $0.14 loss per diluted share for the second quarter of fiscal year 2013. Non-U.S. GAAP adjusted net income was $2.0 million or $0.04 per basic and diluted share for the third quarter of fiscal year 2012. Consolidated Non-U.S. GAAP gross margin increased to 18.0% in the third quarter of fiscal year 2013 from 16.3% in the second quarter of fiscal year 2013.

    "Revenue for this quarter was in our forecasted range, but more importantly our operating results clearly reflect that our cost reduction actions are taking hold as consolidated non-GAAP gross margins for this quarter rose 1.7% to 18.0% on less revenue compared to the September quarter," said Per Loof KEMET's Chief Executive Officer. "Our vertical integration efforts within our tantalum business unit are clearly working and reducing our cost of raw materials and we expect additional benefits in the next several quarters as we produce more tantalum powder internally. We are cautiously optimistic that we are at or nearing the bottom of this cycle and we remain focused on a profitable bottom line even if economic conditions do not improve," continued Loof.

    About KEMET

    The Company's common stock is listed on the NYSE under the ticker symbol "KEM" . At the Investor Relations section of our web site at http://www.kemet.com/IR, users may subscribe to KEMET news releases and find additional information about our Company. KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world's most complete line of surface mount and through hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics. Additional information about KEMET can be found at http://www.kemet.com.

    QUIET PERIOD

    Beginning April 1, 2013, we will observe a quiet period during which the information provided in this news release and quarterly report on Form 10-Q will no longer constitute our current expectations. During the quiet period, this information should be considered to be historical, applying prior to the quiet period only and not subject to update by management. The quiet period will extend until the day when our next quarterly earnings release is published.

    CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS

    Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about the Company's financial condition and results of operations that are based on management's current expectations, estimates and projections about the markets, in which the Company operates, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," "believes," "estimates," variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.

    Factors that may cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements include, but are not necessarily limited to the following:

    (i) adverse economic conditions could impact our ability to realize operating plans if the demand for our products declines, and such conditions could adversely affect our liquidity and ability to continue to operate; (ii) adverse economic conditions could cause the write down of long-lived assets or goodwill; (iii) an increase in the cost or a decrease in the availability of our principal raw materials; (iv) changes in the competitive environment; (v) uncertainty of the timing of customer product qualifications in heavily regulated industries; (vi) economic, political, or regulatory changes in the countries in which we operate; (vii) difficulties, delays or unexpected costs in completing the restructuring plan; (viii) equity method investments expose us to a variety of risks; (ix) acquisitions and other strategic transactions expose us to a variety of risks; (x) the inability to attract, train and retain effective employees and management; (xi) the inability to develop innovative products to maintain customer relationships and offset potential price erosion in older products; (xii) exposure to claims alleging product defects; (xiii) the impact of laws and regulations that apply to our business, including those relating to environmental matters; (xiv) the impact of international laws relating to trade, export controls and foreign corrupt practices; (xv) volatility of financial and credit markets affecting our access to capital; (xvi) the need to reduce the total costs of our products to remain competitive; (xvii) potential limitation on the use of net operating losses to offset possible future taxable income; (xviii) restrictions in our debt agreements that limit our flexibility in operating our business; and (xix) additional exercise of the warrant by K Equity, LLC which could potentially result in the existence of a significant stockholder who could seek to influence our corporate decisions.

    KEMET CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations (Amounts in thousands, except per share data) (Unaudited) Quarters Ended Nine Months Ended December 31, December 31, ------------ ------------ 2012 2011 2012 2011 ---- ---- ---- ---- Net sales $200,297 $218,795 $639,920 $774,165 Operating costs and expenses: Cost of sales 166,117 178,305 540,491 592,128 Selling, general and administrative expenses 25,411 24,737 80,649 83,368 Research and development 6,698 7,172 21,264 21,620 Restructuring charges 3,886 10,748 13,672 13,378 Goodwill impairment - - 1,092 - Write down of long-lived assets 3,084 15,786 7,318 15,786 Net curtailment and settlement (gain) loss on benefit plans 587 - (1,088) - Net (gain) loss on sales and disposals of assets (196) 9 (123) 92 Total operating costs and expenses 205,587 236,757 663,275 726,372 ------- ------- ------- ------- Operating income (loss) (5,290) (17,962) (23,355) 47,793 Other (income) expense: Interest income (54) (62) (111) (136) Interest expense 10,247 7,036 30,840 21,718 Other (income) expense, net (1,641) 716 (1,126) 1,918 Income (loss) before income taxes (13,842) (25,652) (52,958) 24,293 Income tax expense 415 2,119 3,973 5,897 Net income (loss) $(14,257) $(27,771) $(56,931) $18,396 ======== ======== ======== ======= Net income (loss) per share: Basic $(0.32) $(0.62) $(1.27) $0.43 Diluted $(0.32) $(0.62) $(1.27) $0.35 Weighted-average shares outstanding: Basic 44,918 44,644 44,879 42,834 Diluted 44,918 44,644 44,879 52,302

    KEMET CORPORATION AND SUBSIDIARIES Consolidated Balance Sheets (Amounts in thousands, except share data) December 31, 2012 March 31, 2012 ----------------- -------------- ASSETS (Unaudited) Current assets: Cash and cash equivalents $137,559 $210,521 Accounts receivable, net 96,648 104,950 Inventories, net 221,360 212,234 Prepaid expenses and other 36,509 32,259 Deferred income taxes 5,383 6,370 Total current assets 497,459 566,334 Property and equipment, net of accumulated depreciation of $777,780 and $761,522 as of December 31, 2012 and March 31, 2012, respectively 312,911 315,848 Goodwill 35,584 36,676 Intangible assets, net 39,750 41,527 Restricted cash 26,177 2,204 Other assets 14,459 12,963 Total assets $926,340 $975,552 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $7,908 $1,951 Accounts payable 61,593 74,404 Accrued expenses 85,077 89,079 Income taxes payable 1,104 2,256 Total current liabilities 155,682 167,690 Long-term debt, less current portion 375,587 345,380 Other non-current obligations 86,455 101,229 Deferred income taxes 4,805 2,257 Stockholders' equity: Preferred stock, par value $0.01, authorized 10,000 shares, none issued - - Common stock, par value $0.01, authorized 175,000 shares, issued 46,508 shares at December 31, 2012 and March 31, 2012 465 465 Additional paid-in capital 467,708 470,059 Retained deficit (137,984) (81,053) Accumulated other comprehensive income 10,320 12,020 Treasury stock, at cost (1,588 and 1,839 shares at December 31, 2012 and March 31, 2012, respectively) (36,698) (42,495) Total stockholders' equity 303,811 358,996 ------- ------- Total liabilities and stockholders' equity $926,340 $975,552 ======== ========


    KEMET CORPORATION AND SUBSIDIARIES Consolidated Statements of Cash Flows (Amounts in thousands) (Unaudited) Nine Months Ended December 31, ------------------------------ 2012 2011 ---- ---- Net income (loss) $(56,931) $18,396 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 33,679 33,384 Amortization of debt discount and debt issuance costs 3,046 2,903 Net (gain) loss on sales and disposals of assets (123) 92 Stock-based compensation expense 3,584 1,378 Goodwill impairment 1,092 - Write down of long-lived assets 7,318 15,786 Settlement gain on benefit plan (1,088) - Change in deferred income taxes 1,517 909 Change in operating assets (5,576) 46,330 Change in operating liabilities (28,173) (48,116) Other 33 841 Net cash provided by (used in) operating activities (41,622) 71,903 ------- ------ Investing activities: Capital expenditures (38,349) (31,793) Change in restricted cash (24,000) - Acquisition, net of cash received - (11,584) Net cash used in investing activities (62,349) (43,377) ------- ------- Financing activities: Proceeds from issuance of debt 39,825 - Deferred acquisition payments (6,617) - Payments of long-term debt (1,901) (40,581) Net borrowings (payments) under other credit facilities - (3,153) Proceeds from exercise of stock options 58 225 Debt issuance costs (275) (36) Change in restricted cash - - Net cash provided by (used in) financing activities 31,090 (43,545) ------ ------- Net decrease in cash and cash equivalents (72,881) (15,019) Effect of foreign currency fluctuations on cash (81) (983) Cash and cash equivalents at beginning of fiscal period 210,521 152,051 Cash and cash equivalents at end of fiscal period $137,559 $136,049 ======== ========

    Non-U.S. GAAP Financial Measures

    In this news release, the Company makes reference to certain Non-U.S. GAAP financial measures, including "Adjusted net income (loss)", "Adjusted net income (loss) per share", "Adjusted EBITDA" and "Adjusted gross margin". Management believes that investors may find it useful to review the Company's financial results as adjusted to exclude certain items as determined by management.

    Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share

    "Adjusted net income (loss)" and "Adjusted net income (loss) per share" represent net income (loss) and net income (loss) per share excluding: restructuring charges related primarily to equipment moves and employee severance, write down of long-lived assets, ERP integration costs, plant start-up costs, stock-based compensation expense, goodwill impairment, amortization included in interest expense, acquisition related fees, net curtailment and settlement (gain) loss on benefit plans, net foreign exchange gain/loss, net gain/loss on sales and disposals of assets and income tax impact of Non-U.S. GAAP adjustments. Management believes that these Non-U.S. GAAP financial measures are useful to investors because they provide a supplemental way to understand the underlying operating performance of the Company. Management uses these Non-U.S. GAAP financial measures to evaluate operating performance. Non-U.S. GAAP financial measures should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with U.S. GAAP.

    The following table provides reconciliation from U.S. GAAP net income (loss) to Non-U.S. GAAP adjusted net income (loss):

    U.S. GAAP to Non- U.S.GAAP Reconciliation Quarters Ended -------------- December 31, 2012 September 30, 2012 December 31, 2011 ----------------- ------------------ ----------------- (Unaudited) (Amounts in thousands, except per share data) U.S. GAAP Net sales $200,297 $215,991 $218,795 Net loss $(14,257) $(24,921) $(27,771) Basic net loss per share $(0.32) $(0.55) $(0.62) Diluted net loss per share $(0.32) $(0.55) $(0.62) Excluding the following items (Non-U.S. GAAP) Net loss $(14,257) $(24,921) $(27,771) Adjustments: Restructuring charges 3,886 8,522 10,748 Write down of long-lived assets 3,084 4,234 15,786 ERP integration costs 1,458 2,099 1,812 Plant start-up costs 1,524 1,930 666 Stock-based compensation expense 1,078 1,242 (797) Goodwill impairment - 1,092 - Amortization included in interest expense 1,122 954 847 Acquisition related fees 164 866 - Net curtailment and settlement (gain) loss on benefit plans 587 (1,675) - Net foreign exchange (gain) loss (464) (442) 303 Net (gain) loss on sales and disposals of assets (196) (31) 9 Income tax impact of non-U.S. GAAP adjustments (1) (228) (90) 398 ---- --- --- Adjusted net income (loss)(excluding adjustments) $(2,242) $(6,220) $2,001 ======= ======= ====== Adjusted net income (loss) per share (excluding adjustments) Basic $(0.05) $(0.14) $0.04 Diluted $(0.05) $(0.14) $0.04 ____________________________ (1) The income tax effect of the excluded items is calculated by applying the applicable jurisdictional income tax rate, considering the deferred tax valuation for each applicable jurisdiction, and includes the income tax affect of law changes related to the utilization of net operating loss carryforwards.

    Adjusted EBITDA

    Adjusted EBITDA represents net loss before net interest expense, income tax expense/benefit, and depreciation and amortization expense, adjusted to exclude: restructuring charges, write down of long-lived assets, ERP integration costs, plant start-up costs, stock-based compensation expense, goodwill impairment, acquisition related fees, net curtailment and settlement gain/loss on benefit plans, net foreign exchange gain/loss and net loss on sales and disposals of assets. We use Adjusted EBITDA to monitor and evaluate our operating performance and to facilitate internal and external comparisons of the historical operating performance of our business. We present Adjusted EBITDA as a supplemental measure of our performance and ability to service debt. We also present Adjusted EBITDA because we believe such measure is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry.

    We believe Adjusted EBITDA is an appropriate supplemental measure of debt service capacity, because cash expenditures on interest are, by definition, available to pay interest, and tax expense is inversely correlated to interest expense because tax expense goes down as deductible interest expense goes up; depreciation and amortization are non-cash charges. The other items excluded from Adjusted EBITDA are excluded in order to better reflect our continuing operations.

    In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses similar to the adjustments noted below. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these types of adjustments. Adjusted EBITDA is not a measurement of our financial performance under U.S. GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with U.S. GAAP or as an alternative to cash flow from operating activities as a measure of our liquidity.

    Our Adjusted EBITDA measure has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. Some of these limitations are:

    --  it does not reflect our cash expenditures, future requirements for
    capital expenditures or contractual commitments;
    --  it does not reflect changes in, or cash requirements for, our working
    capital needs;
    --  it does not reflect the significant interest expense or the cash
    requirements necessary to service interest or principal payment on our
    debt;
    --  although depreciation and amortization are non-cash charges, the assets
    being depreciated and amortized will often have to be replaced in the
    future, and our Adjusted EBITDA measure does not reflect any cash
    requirements for such replacements;
    --  it is not adjusted for all non-cash income or expense items that are
    reflected in our statements of cash flows;
    --  it does not reflect the impact of earnings or charges resulting from
    matters we consider not to be indicative of our ongoing operations;
    --  it does not reflect limitations on or costs related to transferring
    earnings from our subsidiaries to us; and
    --  other companies in our industry may calculate this measure differently
    than we do, limiting its usefulness as a comparative measure.
    

    Because of these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to us to invest in the growth of our business or as a measure of cash that will be available to us to meet our obligations. You should compensate for these limitations by relying primarily on our U.S. GAAP results and using Adjusted EBITDA only supplementally.

    The following table provides a reconciliation from U.S. GAAP net loss to Adjusted EBITDA (amounts in thousands):

    Quarters Ended -------------- December 31, September 30, December 31, 2012 2012 2011 ---- ---- ---- U.S. GAAP Net loss $(14,257) $(24,921) $(27,771) Interest expense, net 10,193 10,110 6,974 Income tax expense 415 1,787 2,119 Depreciation and amortization 10,502 11,521 10,373 ------ ------ ------ EBITDA 6,853 (1,503) (8,305) Excluding the following items (Non-U.S. GAAP): Restructuring charges 3,886 8,522 10,748 Write down of long-lived assets 3,084 4,234 15,786 ERP integration costs 1,458 2,099 1,812 Plant start-up costs 1,524 1,930 666 Stock-based compensation expense 1,078 1,242 (797) Goodwill impairment - 1,092 - Acquisition related fees 164 866 - Net curtailment and settlement (gain) loss on benefit plans 587 (1,675) - Net foreign exchange (gain) loss (464) (442) 303 Net (gain) loss on sales and disposals of assets (196) (31) 9 ---- --- --- Adjusted EBITDA $17,974 $16,334 $20,222 ======= ======= =======

    Adjusted gross margin

    Adjusted gross margin represents net sales less cost of sales excluding adjustments which are outlined in the quantitative reconciliation provided below. Management uses Adjusted gross margin to facilitate our analysis and understanding of our business operations and believes that Adjusted gross margin is useful to investors because it provides a supplemental way to understand the underlying operating performance of the Company. Adjusted gross margin should not be considered as an alternative to gross margin or any other performance measure derived in accordance with U.S. GAAP.

    The following table provides a reconciliation from U.S. GAAP gross margin to Adjusted gross margin (amounts in thousands):

    Quarters Ended -------------- December 31, September 30, December 31, 2012 2012 2011 ---- ---- ---- U.S. GAAP Net sales $200,297 $215,991 $218,795 Gross margin 34,180 32,938 40,490 Excluding the following items (Non-U.S. GAAP): Plant start-up costs 1,524 1,930 666 Stock-based compensation expense 359 423 (114) Adjusted gross margin $36,063 $35,291 $41,042 ======= ======= ======= Adjusted gross margin as a percentage of net sales 18.0% 16.3% 18.8%

    Contact:

    Dean W. Dimke
    Senior Director of Corporate and Investor Communications
    deandimke@kemet.com
    954-766-2800

    William M. Lowe, Jr.
    Executive Vice President and Chief Financial Officer
    williamlowe@kemet.com
    864-963-6484

    KEMET Corporation

    Web site: http://www.kemet.com/




    Anything Technologies Media Inc's, Zenetek Enters 600 Million Dollar South East Asia Gaming Market with Joint Venture with ProGaming Platforms Inc. to Develop Online Gaming Apps

    FOLSOM, CA, Jan. 31, 2013 /PRNewswire/ - Anything Technologies Media, Inc. (EXMT.PK) is pleased to announce that Zenetek LLC, its wholly owned subsidiary, has signed a joint venture agreement with ProGaming Platforms, Inc. to market its online gaming services to the South East Asia market. This robust platform is able to host anywhere from 2 to 400 competitive gamers at the same time.

    According to Niko Partners, Leader in Asian Video Game Market Intelligence, Revenues for Online Gaming will Exceed USD 1 Billion by 2016. Using real-world industry- generated statistics, Niko also predicts that there will be 117 million gamers throughout the South East Asian emerging markets, generating more than $1 billion in revenue per year. These numbers are expected to increase exponentially for the next decade.

    Mr. Robinson To, CEO of Zenetek, stated, "This joint venture provides us the platform to gain tremendous market share for our gaming platform for years to come and has great potential to increase revenues for the company. For the increases we have seen in gaming and mobile gaming in the US and more 'Western' markets, the Asian cultures and their affinity for gaming will far surpass the US. In many ways, the Asian markets in our sector already have and Zenetek is gaining market share at a rapid pace. Our joint venture with ProGaming Platforms will only accelerate that pace. "

    About Zenetek: Zenetek is currently a privately held company, with a total of 10 full-time employees and affiliates. Zenetek's management team consists of experienced marketing, software development, and finance personnel, with over 75 years combined experience in all aspects of software development. The CEO and Founder of Zenetek has over 25 years of experience in software development, having personally secured and executed contracts with a number of US States, major metropolitan US cities, and Fortune 500 and 'Blue-Chip' companies. Zenetek has a variety of ongoing initiatives ranging from standard development to Iphone and Android Application Development.

    ABOUT ANYTHING TECHNOLOGIES MEDIA INC.

    Anything Technologies Media Inc., www.anythingtechnologiesmedia.com is a Multi-Media Digital applications, production and marketing Company. ATM will be the parent company of subsidiary Corporations, each with their own professional management team with extensive backgrounds in finance, manufacturing, marketing and distribution. ATM's goal is to combine the expertise of our team members to create a cohesive force, which will carry the company forward in the marketplace to a preeminent position through revenue sharing and acquisitions.

    ABOUT ANYTHING MEDIA INC.

    AnyThing Media Inc, www.anythingmediainc.com is a "One Stop Shop" for content owners that want to distribute CD/DVD/USB or Blu-Ray Media to their customers. Specializing in CD and DVD duplication, Anything Media's logistics Supply Chain Management center has complete fulfillment, mailing, printing, e-commerce, and website design solutions. Our customers range from smaller specialty content owners to some of the largest content providers in the country.

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the future press releases of eMax.

    Anything Technologies Media Inc.

    CONTACT: Anything Technologies Media, Inc.

    rick@anythingmediainc.com

    650-222-2863




    TSMC Solar Commercial-size Modules (1.09 Square Meters) Set 15.1% Efficiency Record

    TAICHUNG, Taiwan, Jan. 31, 2013 /PRNewswire/ -- TSMC Solar Ltd. today announced confirmation by both TUV SUD and UL that its commercial-sized (1.09 square meters) champion CIGS module has achieved 15.1% module total area efficiency. The champion module sets a new world record for monolithic thin-film module efficiency, and was produced using the current manufacturing equipment and materials at the company's manufacturing facility in Taichung, Taiwan.

    (Photo: http://photos.prnewswire.com/prnh/20130131/HK49967 )

    "In just one year, our process technology has made great progress. Our champion modules now have comparable module efficiency to mainstream multi-crystalline silicon modules, demonstrating TSMC Solar's ability to realize the high-efficiency potential of our CIGS technology. Our technology's superior competitiveness comes from its high efficiency, excellent high temperature performance and intrinsic cost structure advantages," said Ying-Chen Chao, President of TSMC Solar.

    "Customers appreciate our ability to continuously improve module efficiency. In addition, TS CIGS Series modules deliver up to 5% additional energy yield over crystalline silicon in high temperature regions," said Stephen McKenery, TSMC Solar Worldwide Sales Head.

    About TSMC Solar

    TSMC Solar Ltd. is a wholly-owned subsidiary of Taiwan Semiconductor Manufacturing, Inc. , the acknowledged semiconductor dedicated foundry segment leader with market capitalization exceeding US$90 billion. TSMC's solar business was founded in May 2009 and is headquartered in Taichung, Taiwan, with regional sales offices in Hamburg, Germany; San Jose, California and Boston, Massachusetts.

    For more information, please go to www.tsmc-solar.com.

    Contacts -------- N. America Europe International/Asia SolarNA@tsmc.com SolarEU@tsmc.com SolarAsia@tsmc.com +1-408-678-2816 +49-40/80-80-745-40 +886-4-2703-6688

    Photo: http://photos.prnewswire.com/prnh/20130131/HK49967
    PRN Photo Desk, photodesk@prnewswire.com TSMC Solar Ltd.

    Web site: http://www.tsmc-solar.com//




    Lender Processing Services Announces Multi-State Attorneys General Settlement; Significant Civil Litigation Also Resolved

    JACKSONVILLE, Fla., Jan. 31, 2013 /PRNewswire/ -- Lender Processing Services, Inc. , a leading provider of integrated technology and services to the mortgage and real estate industries, today announced that it has entered into settlement agreements with the attorneys general of 46 states and the District of Columbia.

    (Logo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO )

    The multi-state settlement, which includes an aggregated payment by LPS of $127 million, resolves inquiries surrounding the company's default operations, including former document preparation, verification, signing and notarization practices of certain operations. The company previously announced settlements of similar inquiries with the states of Missouri, Delaware and Colorado, leaving the complaint filed by the state of Nevada as the only unresolved attorney general inquiry. As part of the settlements, LPS confirmed its ongoing commitment to stronger compliance and oversight of its operations - and to continue its remediation efforts.

    "Today's settlements are another major step toward putting issues related to past business practices behind us," said LPS President and Chief Executive Officer Hugh Harris. "As LPS continues to grow and exercise its leadership in the mortgage industry, we remain committed to enhanced regulatory compliance and operational excellence, which are crucial in our changing industry."

    LPS has also continued to resolve outstanding civil litigation. Notably, on Jan. 28, 2013, the company settled the securities fraud litigation brought by St. Clair Shores General Employees' Retirement System, subject to entry of a final order by the federal district court. Additionally, in December 2012, LPS resolved litigation filed by American Home Mortgage Servicing, Inc. (AHMSI).

    "We look forward to favorably resolving our remaining regulatory and legal issues in the near future," said Harris.

    As a result of these settlements, as well as progress on other outstanding legal issues, LPS increased its legal and regulatory reserve in the quarter ended Dec. 31, 2012, by $48 million (which includes $14 million for the securities fraud settlement that was not previously included in the reserve). As of Dec. 31, 2012, the balance in the company's legal reserve, after the payment of expenses, was $223 million.

    In addition to the District of Columbia, the 46 states participating in this settlement are: Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

    LPS will announce its complete fourth quarter 2012 financial results after 4 p.m. EST on Thursday, Feb. 7, 2013, and will host a conference call at 10 a.m. EST on Friday, Feb. 8, 2013, to discuss these results.

    About Lender Processing Services

    Lender Processing Services delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.

    These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS' servicing solutions include MSP, the industry's leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries.

    LPS is a Fortune 1000 company headquartered in Jacksonville, Fla., and employs approximately 8,000 professionals. For more information, please visit www.lpsvcs.com.

    Photo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO Lender Processing Services, Inc.

    CONTACT: Media contact: Michelle Kersch, +1-904-854-5043,
    Michelle.kersch@lpsvcs.com; Investor contact: Nancy Murphy,
    +1-904-854-8640, Nancy.murphy@lpsvcs.com

    Web site: http://www.lpsvcs.com/




    Vuzix Receives Two New Notices of Patent Allowance for its Advanced Optics in Smart Glasses

    ROCHESTER, N.Y., Jan. 31, 2013 /PRNewswire/ -- Vuzix Corporation has received a patent grant and a notice of allowance from the United States Patent Office for United States Patent Application No. 13/195,539 Title: Agile Optical Phased Array Device and Applications and for US Patent Application No. 12/887,572 Title: Near-Eye Display with On-Axis Symmetry.

    (Logo: http://photos.prnewswire.com/prnh/20110518/MM04932LOGO )

    "These new additions to Vuzix IP portfolio make claims in connection with our advanced optics technology that include a single electro-dynamic waveguide to operate as both a thin waveguide to relay images to the eye and the optics to create the virtual image, all in a package size that would fit snuggly into standard eyeglasses" said Paul Travers, President and CEO, Vuzix Corporation. "It also will grow the number of our patents and patents pending to 47, which adds confirmation to Vuzix leadership in the developing optics technology around Augmented Reality Smart Glasses," he said.

    Vuzix Corporation also owns and or licenses a variety of patents and intellectual property that applies to advanced optics and displays for the design of smart glasses with displays built into them. Vuzix IP should ultimately allow it to create a line of fashionable see through eyeglasses, with hi resolution displays in them, for uses in the mobile smart phone markets from gaming to augmented reality. As mobile users adopt advanced augmented reality applications and people expand the use of geospatially connected information, the demand for smart glasses and smart phone accessories is expected to grow. The latest patent allowances come coincident with Vuzix BEST OF INNOVATIONS award win at the 2013 CES and the announcement of their first smart glasses, the M100.

    About Vuzix Corporation
    Vuzix is a leading supplier of Video Eyewear products in the consumer, commercial and entertainment markets. The Company's products, personal display devices that offer users a portable high quality viewing experience; provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds over 47 patents and patents pending and numerous IP licenses in the Video Eyewear field. The company has won 14 Consumer Electronics Show Innovations Awards and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company with offices in Rochester, NY, Oxford, UK and Tokyo, Japan. For more information visit www.vuzix.com.

    Forward-Looking Statements Disclaimer
    Certain statements contained in this release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to, among other things, its new and existing intellectual property, future product releases, including the M100 and smart glasses and their capabilities, new opportunities, the Company's ability to capitalize on new opportunities, the Company's ability and costs to further develop, produce and manufacture the products based on the new technology, and the Company's leadership in the Video Eyewear industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should'" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    For further Investor Information, please contact:
    Vuzix Corporation
    2166 Brighton Henrietta Townline Road,
    Rochester, NY 14623 USA
    Investor Information - Grant Russell
    IR@Vuzix.com
    Tel: +1 (585) 359-7562
    Vuzix.com
    Facebook.com/Vuzix
    Twitter.com/Vuzix

    Photo: http://photos.prnewswire.com/prnh/20110518/MM04932LOGO
    PRN Photo Desk, photodesk@prnewswire.com Vuzix Corporation

    Web site: http://www.vuzix.com/




    "Be Mine" New research suggests that Americans are increasingly in love with online shopping this Valentine's DayTo mark its official launch, Rakuten.com Shopping shares research into online shopping habits, showing many Americans are now buying online more often than saying 'I love you'-- Almost one third of Americans now shop online more often than going on a date-- About half now prefer online shopping to the 'real' thing-- At an average of $49, Americans spend more online each month than they do on Valentine's Day gifts*

    ALISO VIEJO, Calif., Jan. 31, 2013 /PRNewswire/ -- Almost half (42%) of Americans now prefer online shopping to browsing in physical stores, research conducted on behalf of Rakuten.com Shopping has found. This figure is even higher among younger consumers with 51% of 27-38 year olds expressing preference for online over offline shopping. The trend towards ecommerce means that significant numbers now shop online more than we date, read or say 'I love you'. And the richest among us seem keener on snuggling up with new purchases rather than dates - with 70% claiming to shop online more than they 'step out' with a partner.

    "Luv U"
    27 -32 year olds are the least romantic according to the research, conducted in the run up to the most romantic day of the year. Almost 40% in this age group admitted to making purchases online more than they muttered the three special words, and 37% of them subscribe to the 'date less, shop more' ethos.
    Bernard Luthi, CMO and COO at Rakuten.com Shopping, explains: "Shopping habits are rapidly changing - the trend towards online means that it is quicker and easier for consumers today to get their retail fix, particularly when multitasking. The research shows that a quarter of us browse online while watching prime time TV between 8 and 11pm, proving the point made by 86% of respondents, that shopping online is more convenient for today's consumers."

    "Friend Me"
    Despite the move online, consumers still want the personal touch associated with 'bricks and mortar' browsing. Nearly a third (29%) of Americans seek the opinions of their peers via social networks before making a purchase, and 40% of teenage shoppers share their wish lists and potential purchases via social networks to gauge their opinion before buying, a trend that continues though the twenties and early thirties. 60% said that they like the human interaction and opportunity to speak with a salesperson when physically shopping and almost 40% stated that the replication of this online - enabling consumers to speak with online merchants in real time to ask questions - would encourage them to spend even more time and money online.

    Luthi continues: "What this shows is that consumers want all of the efficiency offered by online shopping without losing that all-important personal touch. The aim of Rakuten.com Shopping is to offer just that, allowing consumers to buy online from real people."

    "True Love"
    Rather than browsing aimlessly through ecommerce sites, over three quarters (78%) of shoppers reported that they head online with a clear idea of what they're looking for. This figure rises with age with 83% of 61 - 70 year olds and almost 90% of those aged over 71 heading online with purpose. The younger markets however, showed a clear trends towards prolonged browsing without a defined 'need'; almost half (47%) of teens questioned reported that they go online without knowing exactly what they are looking for. This figure drops to 37% of those in their twenties but suggests a clear trend among younger shoppers moving away from treating the Internet as a vending machine for quick and impersonal purchases.

    "It's Time"
    The ability to bag a bargain online has long been perceived as a key driver for ecommerce but it is time, rather than money that today's consumers are most looking to save. 86% of respondents claimed that the convenience of online purchases as well as the efficiency was the key factor, while only 40% claimed that saving money was their primary motivator. The financial factor was again overlooked when asked whether concerns about the economy would impact their online spend; 50% intend to spend the same amount this year as in 2012 while almost a third (29%) expect to spend more online throughout 2013. And the higher earners are even more bullish - 40% of consumers earning more the $250,000 per year confessed to being likely to spend more online this year than last.

    *Most shoppers spend between $25 - $50 on Valentine's gifts - Experian 2012

    About Rakuten.com Shopping
    Rakuten.com Shopping is a global e-commerce site that connects buyers and sellers in a dynamic marketplace and thinks of shopping as entertainment--complete with sharing and discovery functions, great prices, fun experiences and convenience for 18 million customers. Rakuten.com Shopping provides over 16 million products in 24 categories and includes a network of over 5,500 small and large business shop owners. Rakuten.com Shopping was founded as Buy.com in 1997 and acquired by Rakuten Inc. in May 2010. Its 175 employees are headquartered in Aliso Viejo, California.

    About Rakuten
    Rakuten, Inc. (JASDAQ:4755), is one of the world's leading Internet service companies, providing a variety of consumer- and business-focused services including e-commerce, e-reading, travel, banking, securities, credit card, e-money, portal and media, online marketing and professional sports. Rakuten is expanding globally and currently has operations throughout Asia, Western Europe, and the Americas. Founded in 1997, Rakuten is headquartered in Tokyo, with over 10,000 employees worldwide. For more information, visit: http://global.rakuten.com/group.

    For media inquiries, please contact Hazel Watts, +1-646-738-8965, hazel.watts@hotwirepr.com.

    Rakuten.com Shopping

    Web site: http://global.rakuten.com/




    AT&T 4G LTE Available In MaconCustomers to benefit from ultra-fast mobile Internet on the latest LTE devices

    MACON, Ga., Jan. 31, 2013 /PRNewswire/ -- AT&T* has turned on its 4G LTE network in Macon, along I-75 and including Warner Robins, bringing customers the latest generation of wireless network technology. Watch here to see several of the benefits AT&T 4G LTE provides, including:

    (Logo: http://photos.prnewswire.com/prnh/20120612/DA23287LOGO)

    --  Faster speeds. LTE technology is capable of delivering mobile Internet
    speeds up to 10 times faster than 3G.** Customers can stream, download,
    upload and game faster than ever before.
    --  Cool new devices. AT&T offers several LTE-compatible devices, including
    new AT&T 4G LTE smartphones and tablets, such as the Sony Xperia(TM) TL,
    LG Optimus G(TM), Samsung Galaxy S III, Motorola ATRIX(TM) HD, HTC
    One(TM) X, Nokia Lumia 920, Samsung Galaxy Note(TM) II, HTC One(TM) X+,
    Samsung ATIV smart PC and ASUS VivoTab(TM) RT.
    --  Faster response time. LTE technology offers lower latency, or the
    processing time it takes to move data through a network, such as how
    long it takes to start downloading a webpage or file once you've sent
    the request. Lower latency helps to improve services like mobile gaming,
    two-way video calling and telemedicine.
    --  More efficient use of spectrum. Wireless spectrum is a finite resource,
    and LTE uses spectrum more efficiently than other technologies, creating
    more space to carry data traffic and services and to deliver a better
    network experience.
    

    "We continue to see demand for mobile Internet skyrocket, and our 4G LTE network in Macon responds to what customers want from their mobile experience -- more, faster, on the best devices," said Terry Smith, AT&T Director of External Affairs.

    AT&T's 4G Network
    AT&T's innovation and investment has resulted in the nation's largest 4G network, covering 288 million people with ultra-fast speeds and a more consistent user experience. That's coverage in 3,000 more 4G cities and towns than Verizon.*** Our 4G LTE network delivered faster average download speeds than any of our competitors in PCWorld's most recent 13-market speed tests.

    AT&T's 4G LTE network delivers speeds up to 10 times faster than 3G, as well as multiple innovations that optimize the network for performance. Our network's radio components are placed close to the antenna at most cell sites, instead of inside the base station, which helps minimize power loss between the base station and antenna and, in turn, improves the performance of our 4G LTE network. The network also is designed with its core elements distributed across the country, which helps reduce latency, or the delay when using the Internet, because your request isn't traveling as far.

    Even as AT&T continues to expand its 4G LTE coverage, customers can get 4G speeds outside of 4G LTE areas on our 4G HSPA+ network, unlike competitors, where smartphone customers fall back to slower 3G technologies when outside of LTE coverage.

    AT&T's focus to deliver the best possible mobile Internet experience goes beyond 4G to embrace additional connection technologies. AT&T operates the nation's largest Wi-Fi network**** including more than 31,000 AT&T Wi-Fi Hot Spots at popular restaurants, hotels, bookstores and retailers across the country. Most AT&T smartphone customers get access to our entire national Wi-Fi network at no additional cost, and Wi-Fi usage doesn't count against customers' monthly wireless data plans.

    AT&T also is a leading developer of Distributed Antenna Systems, which utilize multiple small antennas to maximize coverage and speed within stadiums, convention centers, office buildings, hotels and other areas where traditional coverage methods are challenging.

    Over the past five years, AT&T invested more than $115 billion into operations and into acquiring spectrum and other assets that have enhanced our wireless and wired networks. Since 2007, AT&T has invested more capital into the U.S. economy than any other public company. In a July 2012 report, the Progressive Policy Institute ranked AT&T No. 1 on its list of U.S. "Investment Heroes."

    *AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

    **Limited 4G LTE availability in select markets. Deployment ongoing. 4G LTE device and data plan required. Up to 10x claim compares 4G LTE download speeds to industry average 3G download speeds. LTE is a trademark of ETSI. 4G speeds not available everywhere. Learn more about 4G LTE at att.com/network.

    ***4G speeds not available everywhere. Comparison based on U.S. cities and towns with 4G coverage.

    ****Access includes AT&T Wi-Fi Basic. A Wi-Fi enabled device required. Other restrictions apply. See www.attwifi.com for details and locations.

    About AT&T
    AT&T Inc. is a premier communications holding company and one of the most honored companies in the world. Its subsidiaries and affiliates - AT&T operating companies - are the providers of AT&T services in the United States and internationally. With a powerful array of network resources that includes the nation's largest 4G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile Internet, AT&T also offers the best wireless coverage worldwide of any U.S. carrier, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse((R)) and AT&T ?DIRECTV brands. The company's suite of IP-based business communications services is one of the most advanced in the world.

    Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com. This AT&T news release and other announcements are available at http://www.att.com/newsroom and as part of an RSS feed at www.att.com/rss. Or follow our news on Twitter at @ATT.

    (C) 2013 AT&T Intellectual Property. All rights reserved. 4G not available everywhere. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

    Cautionary Language Concerning Forward-Looking Statements
    Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

    Photo: http://photos.prnewswire.com/prnh/20120612/DA23287LOGO
    PRN Photo Desk, photodesk@prnewswire.com AT&T Inc.

    CONTACT: Catherine Stengel, +1-404-797-4108, catherine.stengel@att.com

    Web site: http://www.att.com/




    Top VARs Continue To Flock To NetSuite Solution Provider ProgramLarge and Fast-Growing Solution Providers Build and Grow Business with NetSuite Cloud

    SAN MATEO, Calif., Jan. 31, 2013 /PRNewswire/ -- NetSuite Inc. , the industry's leading provider of cloud-based financials / ERP software suites, today announced that WAC Consulting Group, ISM, Sikich and SD Mayer & Associates have joined the NetSuite Solution Provider Program. Value Added Resellers (VARs) continue to embrace the NetSuite cloud to support their growth. These high-profile VARs each bring a history of proven success serving regional and international clients with on-premise ERP systems such as Microsoft Dynamics Great Plains and Sage, and have all elected to meet the tremendous demand for cloud solutions by embracing the NetSuite business management suite. After carefully considering the options for managing end-to-end business operations in the cloud, these successful companies each made a clear decision to offer their customers and prospects the world's #1 cloud ERP suite from NetSuite. For more information on the NetSuite Solution Provider Program, please visit www.netsuite.com/solutionproviderprogrampr.

    "It is clearer than ever that the growing demand for cloud services is reshaping the way VARs view their future," said Craig West, Vice President of Channel Sales at NetSuite. "Our new partners are declaring NetSuite's combination of cloud solutions and partner programs as the clear platform of choice to enable this change. We welcome the opportunity to succeed together."

    Launched in 2002, the NetSuite Solution Provider Program is the industry's leading cloud channel partner program, providing hundreds of channel partners with a cloud solution to offer prospective customers and grow their businesses as well as industry-leading margins and incentive programs, like the NetSuite SP 100, which pays 100% of first year NetSuite sales revenues. With cloud computing at the forefront of the hottest trends and cloud ERP leading the way, channel partners representing on-premise products like Sage and Microsoft Dynamics GP continue to migrate to NetSuite's superior cloud business management suite. Designed to help solution providers transform their business model to fully capitalize on the revenue growth opportunity of the NetSuite cloud, the NetSuite Solution Provider Program delivers unprecedented benefits that begin during recruitment and range from business planning, sales, marketing and professional services enablement, to training and education.

    The new partners that have joined the NetSuite Solution Provider Program include:

    WAC Consulting Group (www.waccg.com), based in Boston, MA with sixteen offices nationwide, realized opportunities in the cloud were outpacing the market when cloud emerged as the hottest topic at a recent conference held by one of its on-premise software manufacturers. With a strong focus in wholesale/distribution, manufacturing and professional services, WACCG wanted a cloud computing applications partner with a solution designed for the future of its business. The firm signed on with the NetSuite Solution Provider Program, impressed by the comprehensive partner support program as well as the extensive features offered to customers in the key verticals WACCG serves. Knowing NetSuite can be easily customized both by business users and implementation professionals, without resorting to costly dedicated developers or master VAR arrangements, played a crucial role in WACCG's decision. WACCG also responded to market forces. Many companies, particularly those with younger executives, will not even consider a solution unless it has been designed from the ground up for the cloud. "When we see so many prospects out there who are only looking at cloud solutions, we had to align with the best solutions in the cloud," said Tom White, WAC Consulting Group Partner. "I fully expect NetSuite to be at least 50 percent of my office's business in the years to come."

    ISM (www.goism.com), based in Portland, OR with six offices nationwide, has been one of the leading experts in Sage eCommerce solutions for years. After establishing a strong reputation designing powerful eCommerce presences for complex businesses, ISM saw additional opportunity in the NetSuite cloud, which not only provides a powerful eCommerce platform but also integrated ERP and CRM capabilities. The single-database solution and end-to-end business functionality in NetSuite enables ISM to provide higher-value consultative services to clients, taking full advantage of the out-of-the-box integration between eCommerce and other business operations. ISM passed up other cloud solutions, seeing them as too narrowly focused or burdened by a lack of name recognition. Seeing that customers today demand more sophisticated ERP solutions, ISM also sees value in NetSuite's comprehensive dashboards and fully integrated workflow controls. NetSuite's multinational and multi-currency capabilities also make it easy for ISM to position the solution as suitable for true global competition--a key consideration for ISM's clients outside the U.S. "Our clients look at us as advisors, so we wanted a true cloud solution that would ensure the best long-term solution for our client businesses," says Stuart Blumenthal, ISM vice president. "NetSuite is a recognized name, and gives us the ability to provide a global solution without a global price."

    Sikich (www.sikich.com), based in Naperville, IL, has evolved over several decades to become a professional services firm that offers accounting, advisory, investment banking, technology and managed services to customers in the professional services, construction, manufacturing, distribution and government sectors, to name a few. Sikich has a thriving technology and managed services practice around several leading business systems, but recently recognized that NetSuite provides crucial advantages, as the market's recognized leader in enterprise cloud solutions. Because NetSuite's brand is so strong, Sikich frequently heard customers ask for it. As many as 80 percent of prospects were asking Sikich about NetSuite, and the potential for strong recurring revenue combined with opportunities for accounting services, supply chain advisory and other business support services made joining the NetSuite Solution Provider Program an easy decision. "Customers like choices, and Sikich has deep experience as a professional advisory firm which can properly assess client needs and recommend the best solution for those long-term needs," says Jim Drumm, partner-in-charge of ERP and CRM sales at Sikich. "NetSuite supports our goals to have enormous reach with local support, to combine multiple disciplines, and provide our clients the best solutions and services."

    SD Mayer & Associates (www.sdmayer.com) is a new accounting, consulting and wealth management firm started by the co-founder of the largest California-based accounting and consulting firm, Burr Pilger Mayer (BPM). Given the opportunity to launch a new firm 25 years after the successful launch of BPM, Stephen D. (Steve) Mayer, founder and managing partner of SD Mayer, carefully considered the technology and expertise he wanted. He had seen many companies become trapped in a hairball of a half-dozen business management systems with no communication between them. He made the decision to build not only the new company's technology consulting practice around NetSuite as the core business tool, but to build his own company's infrastructure on NetSuite as well. The open architecture and comprehensive capabilities of NetSuite enables SD Mayer to extend NetSuite with more than twenty-five years of expertise in creating successful client solutions. Together, SD Mayer and NetSuite ensure that clients never face the burden to manage separate general ledger, time-and-billing, payroll, scheduling, CRM and client services systems. Layering NetSuite's industry leading Cloud ERP/Financial solution onto a foundation of more than twenty-five years of expertise in creating successful client solutions, the company is confident of the business opportunities ahead. "We're going to launch in markets nobody has touched with cloud solutions, because we know that people want a solution that provides scalability, that will help them differentiate, and make it possible to run the company on dashboards," Mayer says. "Nobody else does that, so we're leading the charge."

    Today, more than 12,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite continues its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.

    Follow NetSuite's Cloud blog, NetSuite's Facebook page and @NetSuite Twitter handle for real-time updates.

    For more information about NetSuite, please visit www.netsuite.com.

    NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc.

    (Logo: http://photos.prnewswire.com/prnh/20090924/SF81218LOGO-b)

    Photo: http://photos.prnewswire.com/prnh/20090924/SF81218LOGO-b
    PRN Photo Desk, photodesk@prnewswire.com NetSuite Inc.

    CONTACT: Mei Li, NetSuite Inc., 650.627.1063, meili@netsuite.com

    Web site: http://www.netsuite.com/




    CoreLogic Updates 2012 Guidance And Provides 2013 OutlookRecord 2012 Performance Expected; Projects Growth in Revenue, Adjusted EBITDA and Adjusted Earnings per Share in 2013- Fourth-quarter and full-year results expected to exceed high-end of previously issued 2012 revenue, adjusted EBITDA and adjusted EPS guidance range.- Stronger 2012 expected results attributable to higher origination volumes, acceleration of Data and Analytics revenue growth, the benefits of operating leverage and cost reduction programs as well as share repurchases.- Full-year 2013 guidance of $1,575 - $1,600 million in revenue, $460 - $475 million in adjusted EBITDA, and $1.65 - $1.75 in adjusted EPS.

    IRVINE, Calif., Jan. 31, 2013 /PRNewswire/ -- CoreLogic , a leading residential property information, analytics and services provider, today provided a market update on 2012 and 2013 financial guidance.

    (Logo: http://photos.prnewswire.com/prnh/20100609/CLLOGO)

    "We ended 2012 with strong momentum driven by continued strong origination volumes, accelerating growth of Data and Analytics revenues and successful execution of our Project 30 cost reduction plan. We are entering 2013 with significant financial flexibility and our focus remains squarely on profitable topline growth, margin expansion and free cash flow generation," said Anand Nallathambi, President and Chief Executive Officer of CoreLogic.

    "We expect to deliver record financial results and exceed our previous guidance for the full year of 2012. We are entering 2013 a higher-growth, higher-margin Company focused on capitalizing on the opportunities presented by an improving housing market. Despite market forecasts indicating a reduction in loan origination volumes, we believe CoreLogic is positioned to deliver revenue and profit growth in 2013," added Frank Martell, Chief Financial Officer of CoreLogic.

    Financial Guidance and Assumptions

    ($ in millions except adjusted EPS) Top end of 2012 Guidance 2013 Outlook/ Implied Guidance Growth --- -------- ------ Revenue $1,540 $1,575 - $1,600 2 - 4% ------- ------ --------------- ----- Adjusted EBITDA(1) $445 $460 - $475 3 - 7% ---------- ---- ----------- ----- Adjusted EPS(1) $1.50 $1.65 - $1.75 10 - 17% -------- ----- ------------- -------

    (1) Definition of adjusted results, as well as other non-GAAP financial measures used by management is included in the Use of Non-GAAP Financial Measures section found at the end of the release.

    2012 and 2013 guidance is based on the following estimates and assumptions:

    2012 Guidance Update

    --  Mortgage industry origination dollar volumes of approximately $1.7 to
    $1.8 trillion.
    --  Mortgage industry delinquency volumes and foreclosure starts contract
    year-over-year at least 10 percent.
    --  Successful execution of Project 30 cost savings initiatives totaling at
    least $60 million.
    --  Repurchase of 10 million common shares during 2012.
    

    2013 Outlook

    --  Mortgage industry origination dollar volumes of approximately $1.45 to
    $1.55 trillion.
    --  Mortgage industry delinquency volumes and foreclosure starts contract by
    at least 10 percent compared with 2012.
    --  Successful execution of Project 30 cost savings totaling at least $20
    million.
    --  Repurchase of 3 million common shares.
    

    Teleconference/Webcast

    CoreLogic will release its fourth quarter and full-year 2012 financial results after the market close on Thursday, February 21, 2013. The press release, with accompanying financial information, will be posted on the CoreLogic investor website at http://investor.corelogic.com.

    CoreLogic management will host a live webcast and conference call on Friday, February 22, 2013, at 8:00 a.m. Pacific time (11:00 a.m. Eastern Time) to discuss these results. All interested parties are invited to listen to the event via webcast on the CoreLogic website at http://investor.corelogic.com. Alternatively, participants may use the following dial-in numbers: 1-866-543-6408 for U.S./Canada callers or 617-213-8899 for international callers. The Conference ID for the call is 75063583.

    Additional detail on the Company's third quarter results is included in the quarterly financial supplement, available on the Investor Relations page at http://investor.corelogic.com.

    A replay of the webcast will be available on the CoreLogic investor website for 30 days and also through the conference call number 1-888-286-8010 for U.S./Canada participants or 617-801-6888 for international participants using Conference ID 66504121.

    About CoreLogic

    CoreLogic is a leading property information, analytics and services provider in the United States and Australia. The company's combined data from public, contributory, and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.

    CORELOGIC and the CoreLogic logo are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries.

    Safe Harbor / Forward Looking Statements

    Certain statements made in this press release are forward-looking statements within the meaning of the federal securities laws, including but not limited to those statements related to the Company's overall financial performance, including future revenue and profit growth, future margin improvement and future adjusted EBITDA and adjusted EPS performance, our ability to meet our 2012 and 2013 business and financial objectives and generate longer-term positive returns for our shareholders; the Company's full-year 2012 expected results and 2013 financial guidance; estimated future cost savings and the impact thereof; mortgage and housing market trends, including mortgage origination and mortgage delinquency volumes; net operating expense reductions, expected non-recurring cash and non-cash charges; and targeted cost reductions including Project 30 and the Technology Transformation Initiative. Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements are set forth in Part I, Item 1A of our most recent Annual Report on Form 10-K for the year ended December 31, 2011, as updated by our Quarterly Reports on Form 10-Q, including but not limited to: limitations on access to or increase in prices for data from various external sources; government legislation, regulations and the level of regulatory scrutiny affecting our customers or us, including the new Bureau of Consumer Financial Protection and with respect to the use of public records and consumer data; compromises in the security of our data transmissions, including the transmission of confidential information or systems interruptions; difficult conditions in the mortgage and consumer lending industries and the economy generally, together with our customer concentration and the impact of these factors thereon; our cost reduction plan and our ability to significantly decrease future allocated costs and other amounts in connection therewith; risks related to the outsourcing of services and our international operations; the inability to control the operations and dividend policies of our partially-owned affiliates; impairments in our goodwill or other intangible assets; and the restrictive covenants in the agreements governing certain of our outstanding indebtedness. The forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

    Use of Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

    This press release contains certain non-GAAP financial measures which are provided only as supplemental information. Investors should consider these non-GAAP financial measures only in conjunction with the comparable GAAP financial measures. These non-GAAP measures are not in accordance with or a substitute for, U.S. GAAP. The Company is not able to provide a reconciliation of projected adjusted EBITDA or projected adjusted earnings per share, where provided, to expected reported results due to the unknown effect, timing and potential significance of special charges or gains.

    The Company believes that its presentation of non-GAAP measures, such as adjusted EBITDA and adjusted EPS provides useful supplemental information to investors and management regarding CoreLogic's financial condition and results. Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, amortization, non-cash stock compensation, non-operating gains/losses and other one-time adjustments plus pretax equity in earnings of affiliates. Adjusted net income is defined as income from continuing operations before equity earnings of affiliates, adjusted for non-cash stock compensation, non-operating gains/losses, and other adjustments plus pretax equity in earnings of affiliates, tax affected at an assumed effective tax rate of 40%. Adjusted EPS is derived by dividing adjusted net income by diluted weighted shares. Other firms may calculate non-GAAP measures differently than CoreLogic, which limits comparability between companies.

    Photo: http://photos.prnewswire.com/prnh/20100609/CLLOGO
    PRN Photo Desk, photodesk@prnewswire.com CoreLogic

    CONTACT: Alyson Austin, Corporate Communications, 949-214-1414 ,
    newsmedia@corelogic.com; or Dan Smith, Investor Relations, 703-610-5410,
    danlsmith@corelogic.com

    Web site: http://www.corelogic.com/




    LPS' December Mortgage Monitor: 2012 Continued Trend of Delinquency Improvement; Strongest Year for Originations Since 2007U.S. Negative Equity Down 35 Percent

    JACKSONVILLE, Fla., Jan. 31, 2013 /PRNewswire/ -- The December Mortgage Monitor report released by Lender Processing Services and covering performance data for the full 2012 calendar year, found that while mortgage delinquency rates remained at elevated levels, they have shown steady improvement, ending the year 32 percent lower than the January 2010 peak. Additionally, following a year of regional improvement in foreclosure inventories (marked by stark contrasts between judicial and non-judicial foreclosure states), the national foreclosure inventory rate began to decline toward the end of 2012 from historic highs experienced during the crisis.

    (Logo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO)

    According to LPS Applied Analytics Senior Vice President Herb Blecher, 2012 also saw a return to relatively high levels of mortgage origination activity.

    "Though still a long way off from the historic level of originations that preceded the mortgage crisis, 2012 was the strongest full year of originations we've seen since 2007," Blecher said. "Volumes were up approximately 34 percent year over year, with about 8.6 million new loans originated. And, while the majority of these new loans were government-backed - 84 percent in 2012 as compared to just over 50 percent at the peak - the trend over the last four years does suggest a slowly resurgent non-agency lending market."

    Leveraging data from the LPS Home Price index, this month's Mortgage Monitor also found that 2012's appreciation in home prices has helped to improve the U.S. equity situation and create even more refinance opportunities:

    --  Overall, negative equity is down 35 percent since the beginning of the
    year.
    --  Nearly 4 million loans that were below conforming loan-to-value (LTV)
    thresholds for refinancing last year would meet those standards today.
    --  An additional 3.4 million loans that are on the cusp of conforming
    loan-to-value thresholds stand to benefit, if the home price situation
    continues to improve.
    

    As reported in LPS' First Look release, other key results from LPS' latest Mortgage Monitor report include:

    Total U.S. loan delinquency rate: 7.17% Month-over-month change in delinquency rate: 0.7% Total U.S. foreclosure pre- sale inventory rate: 3.44% Month-over-month change in foreclosure pre-sale inventory rate: -2.00 % States with highest percentage of non-current* loans: FL, MS, NJ, NV, NY States with the lowest percentage of non-current* loans: MT, WY, SD, AK, ND

    *Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. Totals are extrapolated based on LPS Applied Analytics' loan-level database of mortgage assets.

    About the Mortgage Monitor
    LPS manages the nation's leading repository of loan-level residential mortgage data and performance information on nearly 40 million loans across the spectrum of credit products. The company's research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for LPS' monthly Mortgage Monitor Report. To review the full report, visit http://www.lpsvcs.com/LPSCorporateInformation/CommunicationCenter/DataReports/Pages/Mortgage-Monitor.aspx

    About Lender Processing Services
    Lender Processing Services delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.

    These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS' servicing solutions include MSP, the industry's leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries.

    LPS is headquartered in Jacksonville, Fla., and employs approximately 8,000 professionals. The company is ranked on the Fortune 1000 as the 877(th) largest American company in 2012. For more information, please visit www.lpsvcs.com.

    Photo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO Lender Processing Services, Inc.

    CONTACT: Media, Michelle Kersch, +1-904-854-5043,
    Michelle.kersch@lpsvcs.com; or Investors, Nancy Murphy, +1-904-854-8640,
    Nancy.murphy@lpsvcs.com

    Web site: http://www.lpsvcs.com/




    Scientific Games To Acquire WMSCombination Will Create a Global Gaming Company with a Broad Portfolio of Products and Services for the Lottery and Gaming IndustriesCompany to Deliver Innovative Content, World-Class Technology and Industry-Leading ServicesTransaction Expected to be Immediately Accretive to Scientific Games' EPS and Free Cash FlowConference Call Today at 8:00 am ET

    NEW YORK, Jan. 31, 2013 /PRNewswire/ -- Scientific Games Corporation and WMS Industries Inc. today announced that the companies have entered into a definitive agreement under which Scientific Games has agreed to acquire WMS for $26.00 in cash per common share or approximately $1.5 billion.

    The transaction, which was unanimously approved by both the Scientific Games and WMS Boards of Directors, combines two leading companies in the gaming industry to create an organization that will supply an extensive range of products and services to public and private sector lottery and gaming customers throughout the world. Scientific Games is a leader in the supply of lottery instant tickets, lottery and video gaming systems and server-based gaming. WMS is a leader in the supply of gaming machines and interactive gaming content.

    "The acquisition of WMS is transformational for Scientific Games, enabling us to offer a complete portfolio of lottery and gaming products and services to both new and existing customers around the world," said A. Lorne Weil, Scientific Games' Chairman and Chief Executive Officer. "We expect to combine our game content, technology, operational capabilities and respective geographic footprints to create an enterprise poised to capitalize on significant growth opportunities around the globe."

    "This combination will diversify Scientific Games' revenue base, expand margins and propel future growth opportunities. Importantly, as we realize efficiencies from our increased size and scope, we should be able to deliver meaningful value to shareholders through the deal's immediate earnings per share accretion, significantly improved free cash flow and anticipated synergies," said Jeffrey S. Lipkin, Scientific Games' Chief Financial Officer.

    "The combination of Scientific Games and WMS yields tremendous benefits to our customers, shareholders and employees," said Brian R. Gamache, WMS' Chairman and Chief Executive Officer. "We view this transaction as the next logical and strategic step in offering continued innovation in gaming. Shareholders will enjoy a meaningful premium for their shares and employees will have expanded career opportunities as part of a larger, broader and more diverse organization. We are delighted with this transaction and look forward to working with our new colleagues at Scientific Games."

    Improved Operating Efficiencies

    Scientific Games expects to achieve synergies through revenue growth, shared costs and larger scale, as well as by monetizing its significant U.S. tax attributes. The combined company will also be able to efficiently utilize shared manufacturing, engineering, software, field maintenance and customer service to drive growth and cost savings.

    Excluding anticipated synergies, the combined companies generated combined revenue of approximately $1.6 billion and Combined Attributable EBITDA of approximately $579 million over the trailing 12-month period ended September 30, 2012.

    Complementary Businesses Leveraging Core Competencies

    Scientific Games and WMS will draw on each organization's core strengths to broaden offerings, bring gaming products to new sectors and geographies, accelerate key growth initiatives and offer enhanced capabilities, systems, field service and content. Scientific Games' strong global footprint, including its position in server-based gaming, should help accelerate WMS' international development initiatives. The addition of WMS' gaming business will also diversify Scientific Games' global business assets. Furthermore, Scientific Games and WMS are both known for their product innovation and creative content and will offer an expansive combined portfolio to customers. The combined company will be well positioned to capitalize on government sponsored gaming utilizing Scientific Games' established global platform and experience in providing lottery and gaming systems, products and services to governments.

    Strengthened Position in Interactive Gaming

    The combined iLottery/iGaming platform and content will significantly expand the scope of the combined company's interactive products. WMS has a well-developed iGaming platform, including social and mobile gaming, while Scientific Games has an advanced platform for iLottery, sports book and loyalty/rewards. Scientific Games expects significant opportunities to cross-sell these products to the companies' respective customers.

    Transaction Terms and Execution

    Scientific Games will acquire all of the outstanding shares of WMS for $26.00 per share in cash, for a total enterprise value of approximately $1.5 billion, including debt of $85 million and cash on hand of $55 million as of September 30, 2012. This consideration represents an EBITDA multiple of 6.0x WMS' Adjusted EBITDA of $246 million for the trailing 12-month period ended September 30, 2012, excluding synergies that Scientific Games expects to achieve.

    The acquisition, which is subject to the approvals of WMS shareholders and gaming regulatory authorities and other customary closing conditions, is expected to be completed by the end of 2013. Scientific Games has obtained committed financing for the transaction and the transaction is not subject to a financing contingency.

    Financial and Legal Advisory

    BofA Merrill Lynch and Credit Suisse Securities (USA) LLC served as the financial advisors to Scientific Games and Cleary Gottlieb Steen & Hamilton LLP served as the legal advisor to Scientific Games for the transaction. BofA Merrill Lynch, Credit Suisse and UBS provided the committed financing for the transaction, with Latham & Watkins LLP serving as the legal advisor to Scientific Games for such financing.

    Macquarie Capital acted as exclusive financial advisor to WMS with respect to this transaction and Skadden, Arps, Slate, Meagher & Flom LLP and Blank Rome LLP served as WMS' legal advisors.

    Conference Call Details

    Scientific Games will host a conference call today, January 31, 2013 at 8:00 am Eastern Time to discuss the proposed acquisition. To access the call live via a listen-only webcast, please visit www.scientificgames.com and click on the webcast link under the Investor Information section. To access the call by telephone, please dial (866) 730-5769 (U.S. and Canada) or (857-350-1593) (international). The conference ID is 20589745.

    A presentation that will be discussed on the call will be available in the Investor Information section on the Scientific Games website prior to the conference call. A replay of the webcast and accompanying presentation will be archived in the Investor Information section on the Scientific Games website.

    About Scientific Games

    Scientific Games Corporation is a global leader in providing customized, end-to-end gaming solutions to lottery and gaming organizations worldwide. Scientific Games' integrated array of products and services includes instant lottery games, lottery gaming systems, terminals and services, and internet applications, as well as server-based interactive gaming terminals and associated gaming control systems. For more information, please visit our website at www.scientificgames.com.

    About WMS

    WMS serves the gaming industry worldwide by designing, manufacturing and marketing games, video and mechanical reel-spinning gaming machines, video lottery terminals and in gaming operations, which consists of the placement of leased participation gaming machines in legal gaming venues. The Company also develops and markets digital gaming content, products, services and end-to-end solutions that address global online wagering and play-for-fun social, casual and mobile gaming opportunities. WMS is proactively addressing the next stage of casino gaming floor evolution with its WAGE-NET(R) networked gaming solution, a suite of systems technologies and applications designed to increase customers' revenue generating capabilities and operational efficiency. More information on WMS can be found at www.wms.com or visit the Company on Facebook(R), Twitter(R) or YouTube(R).

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate," "estimate," "should," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, beliefs, assumptions and estimates and are not guarantees of future results or performance. Similarly, statements herein that describe the proposed transaction, including its financial impact, and other statements of management's expectations, beliefs, assumptions, estimates and goals regarding the proposed transaction are forward-looking statements. It is uncertain whether any of the events or results anticipated by the forward-looking statements (including consummation of the proposed transaction) will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of Scientific Games or WMS stock. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: the ability of the parties to consummate the proposed transaction and the satisfaction of the conditions precedent to consummation of the proposed transaction, the ability to secure regulatory approvals at all or in a timely manner; the ability of Scientific Games to successfully integrate WMS' operations, product lines and technology; the ability of Scientific Games to implement its plans, forecasts and other expectations with respect to WMS' business after the completion of the transaction and realize additional opportunities for growth and innovation; and the other risks, uncertainties and important factors contained and identified (including under the heading "Risk Factors") in Scientific Games' and WMS' filings with the Securities and Exchange Commission (the "SEC"), such as their respective Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Neither Scientific Games nor WMS undertakes any obligation to update the forward-looking statements to reflect subsequent events or circumstances. WMS is responsible for information in this press release concerning WMS and Scientific Games is responsible for information in this press release concerning Scientific Games.

    Non-GAAP Financial Measures

    Attributable EBITDA, Adjusted EBITDA and Combined Attributable EBITDA as used herein are non-GAAP measurements. Attributable EBITDA of Scientific Games is based on the definition of "consolidated EBITDA" in Scientific Games' credit agreement (summarized in its November 6, 2012 press release), except that Attributable EBITDA includes its share of the EBITDA of all of its equity investments (whereas "consolidated EBITDA" for purposes of the credit agreement generally includes its share of the EBITDA of its Italian joint venture but only the income of its other equity investments to the extent it has been distributed to Scientific Games). Attributable EBITDA is a non-GAAP financial measure that is presented herein as a supplemental disclosure and is reconciled to net income (loss) in the accompanying table. Adjusted EBITDA of WMS is defined as earnings before depreciation, amortization, income taxes, interest income and expense, share-based compensation and other non-cash items, including non-cash impairment and restructuring charges. Adjusted EBITDA is a non-GAAP financial measure that is presented herein as a supplemental disclosure and is reconciled to net income (loss) in the accompanying table.

    As used herein, Combined Attributable EBITDA reflects the arithmetic sum of Scientific Games' Attributable EBITDA and WMS' Adjusted EBITDA for the trailing 12-month period ended September 30, 2012, and does not include any synergies Scientific Games expects to achieve. Combined Attributable EBITDA does not reflect any adjustments resulting from the proposed transaction and does not represent a "pro forma" amount determined in accordance with the SEC's rules and regulations, including Article 11 of Regulation S-X.

    Scientific Games' management uses Attributable EBITDA in conjunction with GAAP financial measures to: monitor and evaluate the performance of Scientific Games' business operations, as well as the performance of its equity investments, which have become a more significant part of Scientific Games' business; facilitate management's internal comparisons of Scientific Games' historical operating performance of its business operations; facilitate management's external comparisons of the results of its overall business to the historical operating performance of other companies that may have different capital structures and debt levels; review and assess the operating performance of Scientific Games' management team; analyze and evaluate financial and strategic planning decisions regarding future operating investments; and plan for and prepare future annual operating budgets and determine appropriate levels of operating investments. Accordingly, Scientific Games' management believes that this non-GAAP financial measure is useful to investors to provide them with disclosures of Scientific Games' operating results on the same basis as that used by Scientific Games' management.

    In addition, Scientific Games' management believes that Attributable EBITDA is helpful in assessing the overall operating performance of Scientific Games and its equity investments and highlighting trends in Scientific Games' and its equity investments' core businesses that may not otherwise be apparent when relying solely on GAAP financial measures, because this non-GAAP financial measure eliminates from Scientific Games' and its equity investments' earnings financial items that management believes have less bearing on Scientific Games' and its equity investments' performance, such as income tax expense, depreciation and amortization expense and interest (income) expense. Moreover, management believes Attributable EBITDA is useful to investors because a significant and increasing amount of Scientific Games' business is from its equity investments. Scientific Games' management also believes that Attributable EBITDA is useful to investors because the definition is derived from the definition of "consolidated EBITDA" in Scientific Games' credit agreement, which is used to calculate Scientific Games' compliance with the financial covenants contained in the credit agreement. Moreover, Attributable EBITDA is used in determining performance-based bonuses (subject to certain additional adjustments in the discretion of Scientific Games' Compensation Committee (e.g., to take into account changes in applicable accounting rules during the year)). Accordingly, Scientific Games' management believes that this non-GAAP financial measure provides both management and investors with financial information that can be useful in assessing Scientific Games' financial condition and operating performance.

    Attributable EBITDA of Scientific Games as used herein should not be considered in isolation of, as a substitute for, or superior to, financial information prepared in accordance with GAAP. Attributable EBITDA as defined herein may differ from similarly titled measures presented by other companies. This non-GAAP financial measure, as well as other information in this press release, should be read in conjunction with Scientific Games' financial statements filed with the Securities and Exchange Commission.

    Adjusted EBITDA of WMS is a supplemental non-GAAP financial metric used by WMS' management and commonly used by industry analysts to evaluate WMS' financial performance. Adjusted EBITDA provides additional useful information to investors regarding WMS' ability to service debt and is a commonly used financial analysis metric for measuring and comparing gaming companies in areas of liquidity, operating performance, valuation and leverage. Adjusted EBITDA should not be construed as an alternative to operating income as determined in accordance with U.S. generally accepted accounting principles. All companies do not calculate Adjusted EBITDA in necessarily the same manner, and WMS' presentation may not be comparable to those presented by other companies.

    Additional Information and Where to Find It

    WMS intends to file with the SEC a proxy statement in connection with the proposed transaction with Scientific Games. The definitive proxy statement will be sent or given to the stockholders of WMS and will contain important information about the proposed transaction and related matters. SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT BECOMES AVAILABLE. The proxy statement and other relevant materials (when they become available), and any other documents filed by WMS with the SEC, may be obtained free of charge at the SEC's website, at www.sec.gov. In addition, security holders will be able to obtain free copies of the proxy statement from WMS by contacting Investor Relations by mail at Attn: Investor Relations, Investor Relations, 800 S. Northpoint Boulevard, Waukegan, IL 60085.

    Participants in the Solicitation

    Scientific Games and WMS and their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies in connection with the proposed merger. Information about Scientific Games' directors and executive officers is included in Scientific Games' Annual Report on Form 10-K for the year ended December 31, 2011, filed with the SEC on February 29, 2012 and the proxy statement for Scientific Games' 2012 Annual Meeting of Stockholders, filed with the SEC on April 26, 2012. Information about WMS' directors and executive officers is included in WMS' Annual Report on Form 10-K for the fiscal year ended June 30, 2012, filed with the SEC on August 21, 2012 and in the proxy statement for WMS' 2012 Annual Meeting of Stockholders, filed with the SEC on October 17, 2012. Additional information regarding these persons and their interests in the merger will be included in the proxy statement relating to the merger when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

    Contacts

    For Scientific Games
    Investor Relations:
    Cindi Buckwalter, (212) 754-2233

    Media Relations:
    Aimee Remey, (212) 754-2233

    Abernathy MacGregor
    Tom Johnson, (212) 371-5999, tbj@abmac.com
    Michael Pascale, (212) 371-5999, mmp@abmac.com

    For WMS
    Investor Relations:
    Bill Pfund, (847) 785-3167, bpfund@wms.com

    Media Relations:
    Mollie Cole, (773) 961-1194, mcole@wms.com

    Joe Jaffoni or Richard Land
    JCIR, (212) 835-8500, wms@jcir.com

    NON-GAAP FINANCIAL MEASURES (Unaudited, in millions) Three Months Ended Last Twelve Months Ended ------------------ ------------------------ 12/31/2011 3/31/2012 6/30/2012 9/30/2012 9/30/2012 ---------- --------- --------- --------- --------- Reconciliation to Scientific Games Attributable EBITDA: Scientific Games Net income (loss) $(8.5) $1.8 $(12.6) $(27.1) $(46.4) Add: Income tax expense 3.1 4.9 3.3 5.1 16.3 Add: Depreciation and amortization expense 30.7 30.5 39.1 39.2 139.5 Add: Interest expense 25.5 24.9 24.2 26.0 100.6 Add: Early extinguishment of debt - - - 15.5 15.5 Add: Other expense (income), net 1.1 (0.5) 1.1 (0.5) 1.2 Scientific Games EBITDA $51.9 $61.6 $55.1 $58.2 $226.7 ----- ----- ----- ----- ------ Credit Agreement adjustments: Add: Debt-related fees and charges $0.9 $ - $0.1 $15.5 $16.4 Add: Amortization of intangibles - - - - - Add: Earn-outs for permitted acquisitions - - - - - Add: Extraordinary charges or losses under GAAP - - - - - Add: Non-cash stock-based compensation expenses 6.2 5.8 5.9 5.9 23.8 Add: Deferred contingent compensation expense - - - - - Add: Non-recurring write-offs under GAAP 0.1 - - - 0.1 Add: Acquisition advisory fees 0.6 - 0.7 0.5 1.8 Add: Specified permitted add-backs 2.7 3.0 6.8 2.3 14.8 Add: Italian concession obligations - - - - - Add: Racing disposition charges and expenses - - - - - Add: Playtech royalties and fees 1.6 1.6 1.9 1.8 7.0 Less: Interest income (0.1) (0.0) (0.0) (0.3) (0.4) Less: Extraordinary income or gains under GAAP - - - - - Less: Income on earn-outs for permitted acquisitions - - - - - - - - - - Adjustments to conform to Credit Agreement definition: - - - - - Add/Less: Other expense (income), net (1.1) 0.5 (1.1) 0.5 (1.2) Add/Less: Early extinguishment of debt - - - (15.5) (15.5) Less: Earnings from equity investments (1.9) (8.8) (6.9) (5.7) (23.4) Add: EBITDA from equity investments 19.5 23.1 21.2 19.2 83.0 Scientific Games Attributable EBITDA $80.3 $86.7 $83.5 $82.5 $333.1 ===== ===== ===== ===== ====== EBITDA from equity investments: Earnings from equity investments $1.9 $8.8 $6.9 $5.7 $23.4 Add: Income tax expense 2.2 3.8 3.0 2.5 11.4 Add: Depreciation and amortization expense 11.9 9.6 10.1 10.2 41.8 Add: Interest expense, net of other 3.5 0.9 1.2 0.8 6.4 Scientific Games EBITDA from Equity Investments $19.5 $23.1 $21.2 $19.2 $83.0 ===== ===== ===== ===== ===== Reconciliation to WMS Adjusted EBITDA: WMS Net income $16.1 $22.1 $22.1 $9.3 $69.6 Add: Depreciation 17.8 19.7 21.0 23.0 81.5 Add: Amortization of intangible and other non-current assets 7.6 6.2 8.6 9.0 31.4 Add: Provision for income taxes 8.7 11.3 13.0 5.0 38.0 Add: Interest expense 0.4 0.4 0.4 0.7 1.9 Add: Share-based compensation 5.0 3.9 4.3 4.4 17.6 Add: Other non-cash items 2.1 1.7 0.4 1.5 5.7 WMS Adjusted EBITDA $57.7 $65.3 $69.8 $52.9 $245.7 ===== ===== ===== ===== ====== Reconciliation to Combined Revenue: Scientific Games Revenue $239.1 $234.6 $229.3 $227.5 $930.4 Add: WMS Revenue 162.2 176.0 195.9 159.1 693.2 Equals: Combined Revenue $401.3 $410.6 $425.2 $386.6 $1,623.6 ------ ------ ------ ------ -------- Reconciliation to Combined Attributable EBITDA: Scientific Games Attributable EBITDA $80.3 $86.7 $83.5 $82.5 $333.1 Add: WMS Adjusted EBITDA 57.7 65.3 69.8 52.9 245.7 Equals: Combined Attributable EBITDA $138.0 $152.0 $153.3 $135.4 $578.8 ------ ------ ------ ------ ------

    Scientific Games Corporation

    Web site: http://www.scientificgames.com/




    Newsbyte: SAP(R) PartnerEdge(TM) Program Expands; SAP Cloud Solutions Offer Choice to Partners and Accelerate Customer Success

    WALLDORF, Germany, Jan. 31, 2013 /PRNewswire/ -- SAP NEWSBYTE -- SAP AG today announced that the SAP(R) PartnerEdge(TM) program now supports an expanded portfolio of SAP cloud solutions. As a result, more than 500 partners of SuccessFactors, an SAP company, will be transitioned into the program in 2013. SAP PartnerEdge has been designed for partners that resell, build or provide implementation services for SAP solutions across the SAP portfolio. The integration of SuccessFactors partners is another step in strengthening the overall partner ecosystem and underlining SAP's commitment to making it easier to partner and collaborate with the company.

    (Logo: http://photos.prnewswire.com/prnh/20110126/AQ34470LOGO)

    SAP delivered significant growth across all its innovation categories in 2012, as evidenced by 142 percent year-over-year growth in SAP HANA(R) software revenue, 71 percent year-over-year growth in mobile and a 13-fold increase in cloud revenues. Since launching a revamped cloud strategy in May 2012, SAP has infused the DNA of SuccessFactors into its business to create the most comprehensive portfolio of cloud solutions in the industry. SAP offers solutions and suites in the cloud, designed to optimize a company's most critical assets -- people, finances, customers and suppliers. An integral part of the cloud strategy, together with platform, social and the business network, as of the fourth quarter of 2012, SAP cloud solutions exceed a US$1 billion annual revenue run rate -- a 13-fold increase over the prior year -- and boast 20 million users across more than 6,000 customers in the cloud.

    By enabling existing SAP PartnerEdge members to resell, service and build solutions on top of SAP Cloud, these partners now have the opportunity to tackle the fast-growing cloud market and offer best-of-breed cloud solutions and suites to their installed base customers and prospects. SAP also supports partners' economic models, enabling partners that sell cloud solutions to boost profitability by offering quarterly payments in arrears for cloud solutions from SAP.

    Additionally, SAP is making partnering easier as one contract enables partners to sell all cloud solutions available as opposed to one contract per cloud solution. As a member of SAP PartnerEdge, each partner gets the support of a designated partner services advisor from SAP who helps them in leveraging the extensive program benefits. These include technical support, demand generation campaigns and earn market development funds (MDF), as well as trainings and solution certifications. Gaining access to the partner portal site and online automated tools -- including partner-specific resources, marketing tools and collateral -- helps partners to increase brand awareness and speed up their demand generation.

    "Cloud offerings from SAP provide customers the option of moving all or parts of business processes to the cloud and keeping others on premise," said Mercedes Ellison, vice president, Global Cloud Ecosystem & Channels, SuccessFactors. "All cloud partners will be able to receive the benefits and value from an award-winning program like SAP PartnerEdge. This program will provide SuccessFactors partners with additional tools and resources to support the hyper-growth we've been experiencing with cloud as well as give existing SAP PartnerEdge members the ability to easily expand their offerings to cloud."

    For more information, visit the SAP Newsroom. Follow SAP on Twitter at @sapnews.

    Media Contacts:
    Tanja Charrier, SAP, +49 (6227) 7-48522, tanja.charrier@sap.com, CET
    Torrey Fazen, Burson-Marsteller, +1 (617) 912-5401, torrey.fazen@bm.com, EST

    Photo: http://photos.prnewswire.com/prnh/20110126/AQ34470LOGO
    PRN Photo Desk, photodesk@prnewswire.com SAP AG

    Web site: http://www.sap.com/




    Newport Corporation to Present at the 11th Annual Stifel Nicolaus Technology Conference

    IRVINE, Calif., Jan. 31, 2013 /PRNewswire/ -- Newport Corporation today announced that its senior management is scheduled to present at the 2013 Stifel Nicolaus Technology Conference at 12:10 pm EST (9:10 am PST) on Wednesday, February 6, 2013 at the Ritz-Carlton Hotel in San Francisco.

    Newport Corporation's President and Chief Executive Officer, Robert Phillippy, and Senior Vice President and Chief Financial Officer, Charles Cargile, will be making the presentation at the conference which is to be held in room Salon IV. The presentation can be heard through a live audio webcast available at http://bit.ly/WQDGpo and on the Newport investor relations website at www.newport.com/investors. The materials presented at the conference will also be available on these sites during the webcast. A replay of the presentation will be available for 90 days after the live presentation through the links providers.

    Investors attending the conference that are interested in meeting with management should contact their Stifel representative or Newport Investor Relations at 949-863-3144.

    ABOUT NEWPORT CORPORATION

    Newport Corporation is a leading global supplier of advanced-technology products and systems to customers in the scientific research and defense/security, microelectronics, life and health sciences and industrial manufacturing markets. Newport's innovative solutions leverage its expertise in advanced technologies, including lasers, photonics and precision motion equipment, and optical components and sub-systems, to enhance the capabilities and productivity of its customers' manufacturing, engineering and research applications. Newport is part of the Standard & Poor's SmallCap 600 Index and the Russell 2000 Index.

    To download Newport's investor relations app, which offers access to its SEC documents, press releases, videos, audiocasts and more, please visit Apple's App Store for the iPhone and iPad or Google Play for Android mobile devices.

    Contact:

    Charles F. Cargile, 949/863-3144
    Newport Corporation, Irvine, CA
    investor@newport.com

    or

    Rob Fink, 212/896-1206
    KCSA Strategic Communications
    newport@kcsa.com

    Newport Corporation

    Web site: http://www.newport.com/




    Across the country, consumers are moving out of the subprime credit score categoryNumber of consumers with Equifax credit scores below 620 declines in 24 of the top 25 metro areas

    ATLANTA, Jan. 31, 2013 /PRNewswire/ -- The number of consumers with subprime credit scores is shrinking across the country, according to new data from Equifax. The total number of consumers with Equifax credit scores below 620 fell 2.1%, or by about 1 million consumers, in the third quarter of 2012 versus the third quarter of 2011. The overall share of consumers with Equifax credit scores under 620 fell by 0.7% (from 25.9% to 25.2%) during that same period.

    (Logo: http://photos.prnewswire.com/prnh/20060224/CLF037LOGO )

    The trend is playing out to varying degrees in different metropolitan areas, with Chicago seeing the largest decline in consumers with Equifax credit scores below 620. In the Chicago-Gary-Kenosha metro area, 1.5 million consumers had a credit score of 619 or below in the third quarter of 2012, a 9 percent decline from the same quarter in 2011.

    On the other end of the spectrum, Houston is the only metro area among the top 25 that had an increase in consumers with Equifax credit scores below 620, with a 0.6 percent increase in the number of consumers in the lowest category when compared to the same period in 2011. However, when accounting for population growth in Houston, the percentage of the Houston population with subprime credit scores fell by 0.5 percent.

    Credit scores below 620 are considered subprime for the purposes of this report. A consumer with an Equifax score below 620 likely will have a harder time securing credit from a bank or other lender and may have to pay a higher interest rate if a loan is secured.

    "Consumer credit scores are improving in most major metropolitan areas," said Trey Loughran, president of the Personal Solutions division at Equifax. "The job market is improving and time is starting to heal the wounds of the Great Recession."

    The geographic differences can be attributed to a number of factors, including employment, population shifts and demographic changes. For instance, in Chicago, the unemployment rate declined 1.5 percentage points to 8.8 percent - the fifth best improvement in unemployment among the largest 25 metro areas. Also, there are significant improvements in early housing-bust markets such as San Francisco, Sacramento, San Diego, Los Angeles, Las Vegas, Phoenix and Miami, where people's credit scores are starting to recover after foreclosures.

    "It is nice to see that over 1 million people across the country have moved out of the below 620 range," said Loughran. "We are seeing a trend of consumers being careful and disciplined about their use of existing credit while also being cautious about using new accounts they have opened."

    Top 25 Metro Markets: Number of Consumers with Equifax Credit Scores Below 620
    Q3, 2012 vs. Q3, 2011

    Total 619 & Below Total 619 & Below % Change ----------------- ----------------- -------- Top 25 Metropolitan Statistical Areas Q3, 2011 Q3, 2012 ------------------------------------- -------- -------- 1 New York-Northern New Jersey-Long Island NY-NJ-CT-PA 3,306,563 3,248,660 -1.8% --- ---------------------------------------------------- --------- --------- ---- 2 Los Angeles-Riverside-Orange County CA 3,326,552 3,149,559 -5.3% --- -------------------------------------- --------- --------- ---- 3 Chicago-Gary-Kenosha IL-IN-WI CMSA 1,688,835 1,536,648 -9.0% --- ---------------------------------- --------- --------- ---- 4 Washington-Baltimore DC-MD-VA-WV CMSA 1,545,133 1,528,358 -1.1% --- ------------------------------------- --------- --------- ---- 5 San Francisco-Oakland-San Jose CA CMSA 984,035 920,594 -6.4% --- -------------------------------------- ------- ------- ---- 6 Philadelphia-Wilmington-Atlantic City PA-NJ-DE-MD CMSA 1,178,359 1,164,211 -1.2% --- ------------------------------------------------------ --------- --------- ---- 7 Dallas-Fort Worth TX CMSA 1,418,294 1,373,994 -3.1% --- ------------------------- --------- --------- ---- 8 Boston-Worcester-Lawrence MA-NH-ME-CT CMSA 848,824 837,057 -1.4% --- ------------------------------------------ ------- ------- ---- 9 Houston-Galveston-Brazoria TX CMSA 1,288,945 1,296,214 0.6% --- ---------------------------------- --------- --------- --- 10 Detroit-Ann Arbor-Flint MI CMSA 1,160,113 1,137,517 -1.9% --- ------------------------------- --------- --------- ---- 11 Atlanta GA MSA 1,289,238 1,275,933 -1.0% --- -------------- --------- --------- ---- 12 Miami-Fort Lauderdale FL CMSA 1,137,305 1,102,803 -3.0% --- ----------------------------- --------- --------- ---- 13 Phoenix-Mesa AZ MSA 850,651 819,090 -3.7% --- ------------------- ------- ------- ---- 14 Seattle-Tacoma-Bremerton WA CMSA 602,351 596,029 -1.0% --- -------------------------------- ------- ------- ---- 15 Minneapolis-St. Paul MN-WI MSA 438,838 428,367 -2.4% --- ------------------------------ ------- ------- ---- 16 San Diego CA MSA 509,449 482,219 -5.3% --- ---------------- ------- ------- ---- 17 Denver-Boulder-Greeley CO CMSA 434,798 428,726 -1.4% --- ------------------------------ ------- ------- ---- 18 Cleveland-Akron OH CMSA 520,970 518,758 -0.4% --- ----------------------- ------- ------- ---- 19 Tampa-St. Petersburg-Clearwater FL MSA 647,248 642,954 -0.7% --- -------------------------------------- ------- ------- ---- 20 St. Louis MO-IL MSA 493,859 486,388 -1.5% --- ------------------- ------- ------- ---- 21 Portland-Salem OR-WA CMSA 404,681 400,684 -1.0% --- ------------------------- ------- ------- ---- 22 Pittsburgh PA MSA 375,265 369,091 -1.6% --- ----------------- ------- ------- ---- 23 Las Vegas NV-AZ MSA 512,930 490,759 -4.3% --- ------------------- ------- ------- ---- 24 Sacramento-Yolo CA CMSA 371,947 348,953 -6.2% --- ----------------------- ------- ------- ---- 25 Orlando FL MSA 528,232 521,646 -1.2% --- -------------- ------- ------- ----

    About Equifax

    Equifax Personal Solutions empowers consumers with the confidence and control to be their financial best. Find out more about Equifax's innovative suite of credit monitoring and identity theft protection products designed to enable consumers to maximize their financial well-being at www.equifax.com. Get smart information on everything from credit to retirement, all in one place at the Equifax Finance Blog, www.blog.equifax.com.

    Equifax is a global leader in consumer, commercial and workforce information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers. Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's (S&P) 500(R) Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, please visit www.equifax.com.

    Photo: http://photos.prnewswire.com/prnh/20060224/CLF037LOGO
    PRN Photo Desk, photodesk@prnewswire.com Equifax

    CONTACT: Patti Ghezzi, +1-404-290-1996, pghezzi@thewilbertrgroup.com or
    Michele Cacdac-Jones, +1-678-795-7885, michele.cacdac-jones@equifax.com

    Web site: http://www.equifax.com/




    Raytheon achieves UK first with opening of new silicon carbide foundry

    GLENROTHES, Scotland, Jan. 31, 2013 /PRNewswire/ -- Raytheon today officially 'opened for business' a new UK-leading silicon carbide manufacturing 'foundry' facility, developed through several years' research into advanced manufacturing processes and materials science. The application of silicon carbide in electronic systems will place the UK in a leading position to develop next-generation, high-efficiency, smaller, low-weight power conversion products used in harsh environments across the automotive, aerospace, geothermal explorations, oil and gas, and clean energy sectors.

    The Secretary of State for Scotland, the Rt. Hon. Michael Moore, who opened the foundry, said: "Today marks an important demonstration of what we can achieve in the UK through collaboration. The silicon carbide foundry is the first of its kind in the UK and represents the fusion of Raytheon's investment in UK manufacturing technology with university expertise, backed by UK Government funding from the Technology Strategy Board. This scientific and engineering endeavour born out of Raytheon Glenrothes has placed Scotland in a unique leadership position globally, enhanced by universities across the UK. The investment has created a team of world-class engineering specialists working in the production of silicon carbide devices and systems designed to operate at high temperatures, specialists who will continue to shape and influence advanced manufacturing processes and technologies."

    Raytheon's ability to process silicon carbide utilises high-temperature annealing and high-temperature/high-voltage ion implantation. The components provide unique properties in electronics: silicon carbide has the ability to operate at higher voltages and greater temperatures than pure silicon, and at a third of the weight and volume -- improving operational performance and reducing system operating costs. Raytheon is the first company to have successfully tested silicon carbide circuit devices at temperatures up to 400 degrees Celsius.

    Bob Delorge, chief executive, Raytheon UK, said: "Raytheon's investment in the foundry coupled with support from the Technology Strategy Board exceeds £3.5 million to date. This places the company at the start of a journey to exploit new global markets for this cost-efficient material, which is estimated to bring significant new business to Raytheon in Scotland in the coming years. As well as employing industry-leading engineers and scientists, we have made substantial commitments to develop new engineering talent to maintain our technological edge in high temperature silicon carbide. We are supporting PhD students and undergraduates, and we are giving apprentices and young graduates the opportunity to develop their careers in this new and exciting arena of next-generation semiconductor technology.

    "What was previously unachievable is now possible with silicon carbide," he added, "as it allows for smaller and lighter electronics to operate in harsh environments, and addresses a real customer need for significant energy efficiency savings in the manufacture of power switching and rectifying components (AC/DC converters)."

    Ian Watson, director of the aerospace, defence, security and space trade organisation, ADS Scotland, said: "Today we see Raytheon UK gearing up for future success -- through investment, collaboration and diversification. At ADS, we know one of the main challenges industry faces as it looks to the future is continuing technological discovery to stay ahead of global competition. To address this challenge, it is vital that industry and academia work together to advance technology and fully explore commercial applications. Raytheon's new facility at Glenrothes is a brilliant example of this and shows the company to be confident not only about its own future, but also the future of the United Kingdom as a home to market leading innovation.

    "This sector with companies such as Raytheon that operate in Scotland contributes billions in sales, millions in R&D and thousands in jobs. It demonstrates exactly why aerospace and defence are at the heart of the economy and why their success is crucial to our overall future economic prospects."

    About Raytheon UK
    Raytheon Glenrothes has more than 500 people employed in hi-tech engineering-related jobs. Raytheon UK is a subsidiary of Raytheon Company. It is a prime contractor and major supplier to the UK Ministry of Defence and has developed strong capabilities in mission systems integration in defence, national security and commercial markets. Raytheon UK also designs, develops and manufactures a range of high-technology electronic systems and software at facilities in Harlow, Glenrothes, Uxbridge, Waddington and Broughton.

    About Raytheon
    Raytheon Company, with 2012 sales of $24 billion and 68,000 employees worldwide, is a technology and innovation leader specializing in defence, homeland security and other government markets throughout the world. With a history of innovation spanning 91 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com [http://www.raytheon.com/] and follow us on Twitter @raytheon [http://twitter.com/raytheon].

    Notes to Editors

    Raytheon's leadership in silicon carbide is based on research and development into advanced manufacturing processes and technology. This has been aided by collaborative partnerships between Raytheon Glenrothes, UK academia and specific project funding from the UK government's Technology Strategy Board.

    The collaboration to date is as follows:

    Warwick University
    Advising on the characterisation of silicon carbide.

    University of Strathclyde
    Funded by the UK government's Technology Strategy Board, the University of Strathclyde has worked with Raytheon on the High Temperature Silicon Carbide (HiTSiC) programme.

    Newcastle University
    Newcastle University is actively working as an advisor to Raytheon on the HiTSiC programme.

    Heriot Watt University

    Currently working with Raytheon to design and build packaging solutions for harsh environments.

    University of Edinburgh
    The University of Edinburgh worked with Raytheon to conduct market research on the exploitation of disruptive technologies.

    Manchester University
    Partnered with Raytheon to develop silicon carbide technology for the Pro Drive initiative.

    Technology Strategy Board
    The Technology Strategy Board is the UK government's main channel to support business-led technology innovation. Its role is to stimulate and accelerate technology development and innovation in the areas which offer the greatest potential for boosting UK growth and productivity. It delivers a range of grant programmes to support businesses, including collaborative R&D competitions, Smart and Knowledge Transfer. For more information visit: https://www.gov.uk/technology-strategy-board [https://www.gov.uk/technology-strategy-board]

    Media Contact
    Nick West
    01895 816207

    internationalpr@raytheon.com [mailto:internationalpr@raytheon.com]

    Raytheon Company

    Web site: http://www.raytheon.com/




    SHFL entertainment to Present "A Better Game" at 2013 International Casino Exhibition

    LAS VEGAS, Jan. 31, 2013 /PRNewswire/ -- SHFL entertainment, Inc. ("SHFL" or the "Company") will show how its iGaming offerings and other product lines offer "A Better Game" during the 2013 International Casino Exhibition ("ICE") at the ExCel London International Exhibition & Convention Centre, February 5-7, 2013. Product demonstrations will be available at stand #S6-340.

    (Photo: http://photos.prnewswire.com/prnh/20130131/LA51684 [http://photos.prnewswire.com/prnh/20130131/LA51684])

    (Logo: http://photos.prnewswire.com/prnh/20121008/LA88315LOGO [http://photos.prnewswire.com/prnh/20121008/LA88315LOGO])

    "ICE provides us with an excellent opportunity to highlight our most cutting-edge solutions to meet our European customers' needs," said Gavin Isaacs, Chief Executive Officer for SHFL. "Over half of our business is in the international marketplace, and our European customers are important constituents of our business. With our recently established Gibraltar and Alderney operations, we are also delighted to demonstrate our suite of iGaming products for the European online marketplace."

    SHFL's exhibit will feature products from each of its five product categories - iGaming, utilities, proprietary table games, electronic table systems, and slot machines - and will emphasize how it provides...

    ...A Better iGaming Experience

    SHFL will feature its suite of specialty table games available for online play, which includes Three Card Poker, Ultimate Texas Hold'em, Casino War, Fortune Pai Gow Poker, Mississippi Stud, Let It Ride, Four Card Poker, Crazy 4 Poker, Raise It Up, Six Card Poker and blackjack with Bet the Set, Royal Match, and King's Bounty side bets. Using thin-client, elastic cloud technology, SHFL's state-of-the-art online platform and its iGaming products are designed to fit seamlessly into a variety of online operations.

    The Company will highlight the advanced capabilities of its HTML5-based mobile games, spotlighting the high quality and compelling nature of the game content.

    SHFL will also proudly introduce its first game for the social casino, Mississippi Stud, at ICE. SHFL's social casino games are designed to enhance an operator's free-to-play ecosystem by promoting synergies between the land-based and online environments, such as encouraging new user sign-ups and integrating casino rewards points.

    ...Better Security and Efficiency through Enhanced Utility Offerings

    SHFL will unveil its new ChipStar roulette chip-sorting machine at ICE. The Company's newest utility innovation will feature the latest technology to deliver an exceptionally smooth, efficient, and accurate chip sorting process.

    Debuting at the 2012 Global Gaming Expo (G2E) in October, the DeckMate 2 card shuffler will be a highlighted utility product for SHFL at ICE. This state-of-the-art poker shuffler offers significant performance and security improvements over its predecessor, the DeckMate, which has been a staple in the poker market for over 10 years. The DeckMate 2 boasts a shuffle time of 22 seconds, which is twice as fast as the original, and increases game security and integrity through built-in optical card recognition. Both wear on cards and the need for frequent shuffler maintenance are reduced due to an innovative new shuffling method. Other exciting features include an on-board timer, which allows operators to call the "clock", and a remote touchscreen display with an intuitive user interface for card verification.

    Other utility offerings highlighted at the show include the MD3 baccarat and blackjack shuffler; the one2six single and multi-deck continuous shuffler; the i-Deal shuffler for single-deck specialty games; the i-Shoe Auto optical card-reading shoe for baccarat and blackjack; the 24" double-sided LCD i-Score baccarat viewer; the i-Verify LCD touch-screen for "house way" games; the Deck Checker card verification system; and the Easy Chipper D chip sorter.

    ...Better Specialty Games and Progressive Technology

    Global Gaming Business voted SHFL's new House Money [http://youtu.be/5b_OqS4sIwQ] side bet as the "Best Table Game Product" in 2012. In House Money side bet for blackjack, the player's first two cards must be a straight, pair, straight flush, or Ace-King suited to win the bet, but the winning doesn't necessarily stop there. All or part of the player's side bet winnings may be added to their standard wager and play continues like a traditional game of blackjack. House Money has been described as an ordinary side bet with an intriguing twist, which provides players with a new level of excitement and operators with a higher hold percentage. The House Money side bet is also available for baccarat.

    The Company will debut a progressive version of Big Raise Stud Poker, a five-card poker game where the player's three cards are combined with two community cards to make a five-card poker hand and a player can win with a pair of 6s or better. A 3 Card Bonus side bet wager is featured with the game and wins if the player's three cards make a pair or better, regardless of the player choosing to play or fold.

    Other progressive titles that will be shown at ICE include: Mississippi Stud, Ultimate Texas Hold'em, and Crazy 4 Poker. All progressives will be running on SHFL's next generation Nexus Command progressive hardware, which combines an intuitive dealer interface with electronic chip sensors embedded in the table to allow players to place an optional jackpot wager to potentially win fixed prizes or a continuously incrementing progressive jackpot. The Nexus Command hardware is compatible with the Company's Operator Wide Area Progressive ("OWAP") technology, which provides casino operators with the ability to offer linked progressive jackpots across multiple properties, leading to faster incrementing and more frequent jackpots, while delivering even more excitement to the tables.

    Better Technology with e-Table Innovations

    The Company will display Rapid Fusion from its Rapid line, which combines a live dealer with a touchscreen betting interface, resulting in enhanced game security and increased productivity for casino operators. Rapid Fusion allows for concurrent play of four games at the same time (e.g. two baccarat, one sic bo, one roulette or three roulette, one baccarat). The user-friendly, 22" widescreen interface features tabs, which show table status, countdown, wagers, and results from each game, and allow for fast switching between games.

    i-Table Roulette andi-Table Blackjack will also be on display at ICE, which are both now available with additional language options.

    ...Better Slot Content

    SHFL will have 7 slot titles on display this year, further showcasing its deep portfolio of content and highlighting its growing success in the international marketplace.

    Debuting at the Australasian Gaming Expo in August 2012 and given its strong reception at G2E 2012, The Flintstones(TM) will be prominently displayed at ICE. This three-level, low-denomination standalone progressive features a suite of exciting base games and attractive jackpot prizes along with the exciting "mini-reel" feature trigger.

    SHFL's slot machine lineup will also feature: 88 Fortunes, 5 Treasures, Tiger Power, Chomp, Cape Fortune, and Oink. All of the titles offer unique features like new mathematical models, new jackpot triggers, and new themes.

    THE FLINTSTONES and all related characters and elements are trademarks of and © Hanna-Barbera.
    (s12)

    About SHFL entertainment, Inc.
    SHFL entertainment, Inc. is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service. The Company operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in five distinct categories: Utility products, which include automatic card shufflers and roulette chip sorters; Proprietary Table Games, which includes live games, side bets and progressives; Electronic Table Systems, which include various e-Table game platforms; Electronic Gaming Machines, which include video slot machines; and newly introduced iGaming, which features online versions of SHFL's table games, social gaming, and mobile applications. The Company is included in the S&P SmallCap 600 Index. Information about the Company and its products can be found on the Internet at www.SHFL.com [http://www.shufflemaster.com/], or on Facebook [http://www.facebook.com/SHFLentertainment] and Twitter [http://www.twitter.com/SHFLent].

    Forward Looking Statements
    This release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this release other than statements that are purely historical are forward-looking statements. Forward-looking statements in this press release include, without limitation: our anticipation that all of our products and game titles will be accepted in all of our markets, will be commercially successful and will be received and in-demand by casinos and their customers; our strategy and ability for innovation and exploitation of our technology, brands, and intellectual property across all of our product lines, including our iGaming content;; our expectation that our products will perform as they are designed to do and to and will meet our profitability, performance and innovation expectations; our belief that the requirements of our privileged licenses will not be changed, altered or revoked in a manner that would impact our ability to conduct our business or market our products as currently conducted or as we anticipate doing so. Our beliefs, expectations, forecasts, objectives, anticipations, intentions and strategies regarding the future, including without limitation those concerning expected operating results, revenues and earnings are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from results contemplated by the forward-looking statements, including but not limited to: unexpected changes in the market and economic conditions and reduced demand for or increased competition with SHFL's products; our unanticipated inability to accomplish our innovation objectives or our inability to accurately gauge the commercial appeal of our products; increased infringement on SHFL's intellectual property or proprietary brands; unanticipated changes in the laws, rules or regulations governing gaming and iGaming and the regulation of gaming in all markets.

    Photo: http://photos.prnewswire.com/prnh/20130131/LA51684
    http://photos.prnewswire.com/prnh/20121008/LA88315LOGO
    PRN Photo Desk, photodesk@prnewswire.com SHFL entertainment, Inc.

    CONTACT: Julia Boguslawski, Investor Relations/Corporate Communications,
    +1-702-897-7150, jboguslawski@shfl.com; Gavin Isaacs, CEO or Linster W.
    Fox, CFO, +1-702-897-7150, +1-702-270-5161

    Web site: http://www.shufflemaster.com/




    DST Systems, Inc. Announces Fourth Quarter 2012 And Full Year 2012 Financial ResultsBoard Authorizes New $250 Million Share Repurchase PlanImplements Quarterly Cash Dividend of $0.30 Per Share Payable in First Quarter 2013

    KANSAS CITY, Mo., Jan. 31, 2013 /PRNewswire/ -- DST Systems, Inc. today announced its fourth quarter and full year 2012 financial results.

    Fourth Quarter 2012 and Full Year 2012 Financial Results

    DST reported consolidated net income attributable to DST ("DST Earnings") of $37.9 million ($0.82 per diluted share) for the fourth quarter 2012 compared to net income of $39.2 million ($0.88 per diluted share) for the fourth quarter 2011. DST Earnings for the year ended December 31, 2012 were $324 million ($7.08 per diluted share) compared to $183.1 million ($3.95 per diluted share) for the year ended December 31, 2011.

    Taking into account certain non-GAAP adjustments explained herein, consolidated DST Earnings were $55 million ($1.19 per diluted share) for fourth quarter 2012 compared to $48 million ($1.07 per diluted share) for fourth quarter 2011, and $182 million ($3.98 per diluted share) for the year ended December 31, 2012 compared to $189.7 million ($4.09 per diluted share) for the year ended December 31, 2011.

    The diluted EPS impact of non-GAAP adjustments for fourth quarter 2012 is summarized as follows:

    Reported GAAP diluted EPS $0.82 Goodwill impairment 1.32 Net gain on securities and other investments (0.95) Net gain from unconsolidated affiliates (0.24) Leased facility abandonment costs, net of gains on real estate assets 0.18 Employee termination expenses 0.16 Income tax benefits (0.10) ----- Adjusted Non-GAAP diluted EPS $1.19 =====

    DST has renamed the Output Solutions Segment as the Customer Communications Segment to reflect the changing focus from predominantly physical output to a provider of data management and insight, electronic communication and physical communication. The Company will refer to the Customer Communications Segment and to its respective reporting units herein and on a go forward basis for financial reporting.

    "We are pleased with DST's operating results for the fourth quarter, including year-over-year operating improvement in the Financial Services and Customer Communications segments," said Steve Hooley, President and CEO of DST. "We have converted, or are in the process of converting, a number of new clients across our business lines, which we expect will generate revenue growth and allow us to continue building upon our momentum."

    Mr. Hooley continued, "Today, we announced a new share repurchase authorization and increased the frequency of our dividend. We also continued to monetize certain non-operating assets in both our investment and real estate portfolios. Proceeds from these sales were used to repurchase DST common shares and to reduce debt during the quarter, and we believe DST now has an appropriate level of debt to provide the Company with sufficient financial flexibility to support our growth initiatives. We are committed to returning capital and enhancing value for shareholders, while continuing to position the Company for future growth."

    Fourth quarter 2012 financial highlights, taking into account non-GAAP adjustments, were as follows:

    --  Consolidated operating revenues (excluding out-of-pocket reimbursements)
    increased $29.7 million or 6.5% to $487 million, as compared to fourth
    quarter 2011.  Financial Services operating revenues increased $24.7
    million, or 8.3%, and operating revenues for the Customer Communications
    Segment increased $4.3 million or 2.7%.
    --  Consolidated income from operations increased $6.5 million, or 9.2%,
    compared to fourth quarter 2011.  Excluding deferred compensation
    liability movements (the effect of which is offset in other income),
    consolidated income from operations was $78.4 million, an increase of
    $3.2 million as compared to 2011.  On the same basis, Financial Services
    income from operations decreased $3.7 million, or 5.4% during the
    quarter to $65.4 million, principally from client conversion and
    development costs for the retirement and brokerage businesses.  Customer
    Communications Segment income from operations increased $6.6 million
    during the quarter to $12.5 million from higher North American revenues
    and lower costs in the U.K operations.
    --  Equity in earnings of unconsolidated affiliates increased $3.5 million
    primarily from improved earnings at International Financial Data
    Services L.P. ("IFDS L.P."), which had higher revenues from the
    conversion of a new client with 1.2 million shareowner accounts.
    --  The Company's income tax rate was 33.4% for fourth quarter 2012, a
    decrease of 3.1% as compared to 36.5% for fourth quarter 2011, as a
    result of lower state income taxes and from changes in the mix of
    domestic and international profits.
    

    Goodwill Impairment

    As previously announced on January 29, 2013, the Company recorded a non-cash goodwill impairment charge of $60.8 million in its Customer Communications U.K. reporting unit during the quarter, which has been treated as a non-GAAP item.

    Income Tax Refund Claims

    The Company has previously filed federal income tax refund claims for its domestic manufacturing deduction under Internal Revenue Code Section 199. During fourth quarter 2012, the Company and the IRS reached a resolution in regards to the refund claim for the tax year ended December 31, 2005. As a result, the Company recorded an income tax benefit of $2.3 million. In addition, the Company recorded an income tax benefit of $1.6 million related to research and experimentation tax credits related to certain post-audit periods that are still subject to examination. These items have been treated as non-GAAP adjustments.

    Asset Monetization Update

    During the quarter, DST generated $113.6 million of pretax cash proceeds, consisting of $85.7 million from the sales of marketable securities, $19.9 million of distributions from private equity funds and other investments and $8 million from the sale of real estate assets. Included in the $85.7 million of pretax cash proceeds received from sales of marketable securities are $41 million and $35.7 million from the sales of the Company's interests in Euronet Worldwide and a portion of its position in State Street Corporation, respectively. For the year ended December 31, 2012, DST realized $485.4 million of pretax cash proceeds, consisting of $396.8 million from the sales of investments, $75 million in distributions from private equity funds and other investments and $13.6 million from the sale of real estate assets. After tax proceeds from these transactions were primarily used to reduce debt and to repurchase shares of DST common stock.

    In addition, the Company's joint venture, IFDS Canada sold its interest in a Canadian real estate partnership which owned the building IFDS Canada and other tenants occupy. IFDS Canada received proceeds of approximately $53.2 million, resulting in equity in earnings of $14.8 million for DST's portion of the gain on the sale, which has been treated as a non-GAAP item.

    At December 31, 2012, the Company's total debt outstanding was $1,011.6 million, $89.9 million less than September 30, 2012 and $368.7 million less than December 31, 2011.

    Dividend Update

    The Board of Directors of DST has unanimously determined to increase its dividend frequency from a semi-annual basis to a quarterly basis beginning in the first quarter of 2013. On January 30, 2013, the Board of Directors of DST declared a quarterly cash dividend of $0.30 per share on its common stock, payable on March 15, 2013, to shareholders of record at the close of business on February 19, 2013.

    During fourth quarter 2012, DST paid a semi-annual cash dividend of $0.40 per share on its common stock.

    Share Repurchase Plan & Share Related Activity

    On January 30, 2013, the Board of Directors of DST authorized a $250 million share repurchase plan, which replaces the Company's existing share repurchase plan, under which DST had approximately 750,000 shares remaining. The plan, as amended, allows, but does not require, the repurchase of common stock in open market and private transactions.

    The Company had 44.3 million shares of common stock outstanding at December 31, 2012, a decrease of approximately 900,000 shares from September 30, 2012 and an increase of 200,000 shares from December 31, 2011. During the fourth quarter 2012, the Company spent $73.7 million to repurchase 1,250,000 shares of DST common stock.

    Average diluted shares outstanding for fourth quarter 2012 were 46.1 million, an increase of 100,000 shares or 0.2%, from third quarter 2012 and an increase of 1.4 million shares or 3.1% from fourth quarter 2011. average diluted shares outstanding from fourth quarter 2011 resulted from shares issued under equity compensation plans and from higher dilutive effects of equity compensation awards and convertible debentures, partially offset by share repurchases made in the fourth quarter of 2012.

    Total stock options, restricted stock and restricted stock units ("equity units") outstanding at December 31, 2012 were 2.7 million, of which 1.7 million were stock options, 100,000 were restricted stock and 900,000 were restricted stock units. Equity units decreased 600,000 units or 18.2% from September 30, 2012 and 2.3 million units or 46% from December 31, 2011 primarily from fewer stock options outstanding.

    Detailed Review of Financial Results

    The following discussion of financial results takes into account the non-GAAP adjustments described in the section entitled "Use of Non-GAAP Financial Information" and detailed in the attached schedule titled "Description of Non-GAAP Adjustments."

    Segment Results

    Financial Services Segment

    Operating revenues for the Financial Services Segment (excluding out-of-pocket reimbursements) for fourth quarter 2012 increased $24.7 million or 8.3% to $320.8 million as compared to fourth quarter 2011. DST HealthCare operating revenues increased primarily from higher pharmacy claims processed. DST Global Solutions recorded higher asset management software licenses and professional service revenues. In addition, increased operating revenues were recorded from ALPS from higher assets under distribution and administration and the inclusion of a full quarter of financial results in 2012 versus two months in 2011. These operating revenue increases were partially offset by lower operating revenues for mutual fund processing resulting from lower registered accounts serviced.

    The following table summarizes changes in U.S. mutual fund registered accounts and subaccounts (in millions):

    Three Months Ended Year Ended December 31, 2012 December 31, 2012 ----------------- ----------------- Registered Accounts Beginning balance 77.6 85.1 New client conversions 0.5 Subaccounting conversions to DST platforms (0.4) (2.8) Subaccounting conversions to non- DST platforms (1.4) (6.3) Conversions to non- DST platforms (0.9) Organic growth (decline) (0.1) 0.1 Ending balance 75.7 75.7 ---- ---- Subaccounts Beginning balance 11.8 14.6 New client conversions 0.1 0.1 Conversions to non- DST platforms (6.1) Conversions from non- DST registered platforms 0.1 0.3 Conversions from DST's registered accounts 0.4 2.8 Organic growth 0.7 Ending balance 12.4 12.4 ---- ---- Total accounts 88.1 88.1 ==== ====

    Tax-advantaged accounts were 41.4 million at December 31, 2012, a decrease of 500,000 accounts from September 30, 2012 and a decrease of 1.3 million from December 31, 2011. Tax-advantaged accounts represent 54.8% of total registered accounts serviced at December 31, 2012, as compared to 50.2% at December 31, 2011.

    DST signed a new mutual fund registered account client in January 2013 which is expected to add approximately 100,000 new accounts in the first quarter 2013. For 2013, DST currently projects total conversions of registered accounts to subaccounts will approximate 5-6 million, of which approximately 30% will convert to DST's subaccounting platform.

    A new subaccounting client with approximately 300,000 subaccounts was signed during the quarter. Additionally, a previously announced new subaccounting client converted 100,000 subaccounts in fourth quarter 2012 and the Company currently expects that this client will convert 5.1 million subaccounts to DST's subaccounting platform during first quarter 2013, an increase of 1.3 million from the Company's previous projection. In summary, the Company expects 5.4 million new subaccounts to convert from non-DST subaccounting platforms by the end of the first quarter 2013.

    The actual number of accounts estimated to convert to and from various DST platforms, as well as the timing of those events, is dependent upon a number of factors including information obtained from DST's clients. Actual results could differ from the Company's estimates.

    ALPS operating revenues increased during fourth quarter 2012 from new clients, market appreciation and from having an additional month of operations in the fourth quarter 2012 as compared to 2011. The following table summarizes ALPS operating statistics (in billions):

    December 31, ------------ 2012 2011 ---- ---- Assets Under Active Distribution $61.7 $51.9 Assets Under Administration 101.9 93.6 Assets Under Management 8.3 4.9

    Retirement operating revenues for the fourth quarter 2012 declined from fourth quarter 2011. The following table summarizes changes in defined contribution participants serviced during the three months and year ended December 31, 2012 (in millions):

    Three Year Ended Months Ended December 31, December 31, 2012 2012 ----------------- ---- Defined Contribution Participants Beginning balance 4.4 4.6 New customer conversions 0.3 0.3 Organic growth (decline) 0.1 (0.1) --- ---- Ending balance 4.8 4.8 === ===

    As previously announced, the Company is in the process of converting a new retirement client with approximately 1.3 million participants to DST's platform, of which 300,000 converted in fourth quarter 2012 and 400,000 are expected to convert in first quarter 2013.

    DST HealthCare operating revenues during the fourth quarter 2012 increased from higher volumes of pharmacy claims processed and from higher software license sales. Pharmacy claims paid during fourth quarter 2012 increased by 12.4 million claims or 13.6% from fourth quarter 2011 to 103.8 million claims. The increase in pharmacy claims paid in fourth quarter 2012 is associated with increased Medicare and Medicaid members. Covered lives using DST's medical claim processing platforms were 23.3 million at December 31, 2012, an increase of 800,000 covered lives from September 30, 2012 and an increase of 700,000 from December 31, 2011. The increase in covered lives is principally from organic growth within the existing customer base driven by increased Medicaid third party administration processing. DST HealthCare also signed two new full service clients during the quarter, which are expected to increase covered lives processed by approximately 100,000 in first quarter 2013. Software license revenue also increased during fourth quarter 2012.

    AWD operating revenues during the fourth quarter 2012 decreased slightly as compared to fourth quarter 2011 primarily due to lower software license revenues. Active AWD users at December 31, 2012 were 207,600, an increase of 1.6% from December 31, 2011 and an increase of 2% from September 30, 2012.

    DST Global Solutions investment management operating revenues during fourth quarter 2012 increased from the same period in 2011 due to higher license sales and professional services revenue.

    Financial Services Segment software license fee revenues are derived principally from DST Global Solutions, DST Health Solutions and AWD. Operating revenues include approximately $16.1 million of software license fee revenues for fourth quarter 2012, an increase of $3.9 million or 32% from the same period in 2011 reflecting higher Global Solutions and DST Health Solutions software license fee revenues, offset by lower AWD license fee revenues. While license fee revenues are not a significant percentage of DST's operating revenues, they can significantly impact earnings in the period in which they are recognized. Revenues and operating results from individual license sales depend heavily on the timing, size and nature of the contract.

    Financial Services costs and expenses for fourth quarter 2012, excluding reimbursable operating costs, increased $24.7 million or 11.8% to $234.7 million. Excluding the effects of deferred compensation, operating costs and expenses increased $28.0 million in fourth quarter 2012, primarily from the inclusion of an additional month of ALPS operations, higher DST Retirement Solutions conversion and operating costs and higher expenses for Brokerage Solutions business expansion efforts.

    Financial Services depreciation and amortization expense increased $400,000 in fourth quarter 2012 to $22.1 million, primarily from an additional month of ALPS operations in 2012.

    Excluding the effects of deferred compensation, Financial Services Segment income from operations decreased $3.7 million during fourth quarter 2012 to $65.4 million. On this basis, operating margin for fourth quarter 2012 was 20.4% as compared to 23.3% in 2011. Operating margins were adversely affected by the decline in mutual fund processing revenues and conversion and business expansion costs in the retirement and brokerage business units.

    Customer Communications Segment (formerly Output Solutions Segment)

    The following tables present the financial results and the operating statistics of the Customer Communications Segment for fourth quarter 2012 and 2011 (in millions):

    Three Months Ended December 31, ------------------------------- 2012 2011 ---- ---- Operating Operating Operating Operating Operating Operating Revenue Income EBITDA Revenue Income (Loss) EBITDA ------- ------ ------ ------- ------------ ------ North America $115.3 $11.5 $19.7 $108.2 $11.1 $19.3 United Kingdom 51.0 1.0 5.4 53.8 (5.2) (1.1) Customer Communications Segment $166.3 $12.5 $25.1 $162.0 $5.9 $18.2 ------ ----- ----- ------ ---- -----

    Three Months Ended December 31, ------------ 2012 2011 ---- ---- Images Produced: North America 2,452.9 2,282.4 United Kingdom 531.7 526.6 Total Customer Communications 2,984.6 2,809.0 ======== Packages Mailed: North America 557.5 509.5 United Kingdom 188.8 181.1 Total Customer Communications 746.3 690.6 ========

    North America operating revenues increased 6.6% in fourth quarter 2012 principally from new client volumes. Increased operating revenues and the related operating costs associated with higher production volumes, and lower depreciation expense, resulted in a $400,000 increase in operating income over fourth quarter 2011.

    North America operating margin was 10% for fourth quarter 2012 as compared to 10.3% in fourth quarter 2011. North America Operating EBITDA increased $400,000 or 2.1% from fourth quarter 2011.

    During fourth quarter 2012, North America received a new client commitment representing approximately 12 million of aggregate packages annually when fully transitioned. Full conversion activities for this new client commitment are expected to be completed in the second half of 2013.

    U.K. operating revenues decreased 5.2% in fourth quarter 2012 from decreased demand and lower revenues per package. Income from U.K. operations was $1 million during fourth quarter 2012, a $6.2 million improvement over the loss recorded in fourth quarter 2011. The improvement is the result of lower costs from facility consolidations and lower headcount. Customer Communications U.K. Operating EBITDA was $5.4 million, an increase of $6.5 million from fourth quarter 2011.

    Investments and Other Segment

    Investments and Other Segment operating revenues for fourth quarter 2012 increased $100,000 or 0.7% as compared to fourth quarter 2011. Income from operations increased $300,000 to $2.5 million from higher real estate revenues and lower depreciation expense due to sales of real estate and previous asset impairments. Income from operations and Operating EBITDA for DST's U.S. real estate holdings during the quarter were essentially unchanged as compared to fourth quarter 2011.

    On a "funds from operations" ("FFO") basis, which is defined as net income plus depreciation and amortization, including a pro-rata portion of depreciation and amortization of unconsolidated affiliates, DST's U.S. real estate holdings had FFO of $7.9 million, a decrease of $200,000 as compared to fourth quarter 2011. FFO diluted EPS was $0.17 for fourth quarter 2012, a decrease of $0.01 per diluted share as compared to fourth quarter 2011.

    Other Financial Results

    Equity in earnings (losses) of unconsolidated affiliates

    The following table summarizes the Company's equity in earnings (losses) of unconsolidated affiliates (in millions):

    Three Months Ended Year Ended December 31, December 31, ------------ ------------ 2012 2011 2012 2011 ---- ---- ---- ---- BFDS $2.6 $3.5 $10.2 $12.5 IFDS U.K. 2.3 2.2 3.0 12.0 IFDS L.P. 2.5 0.5 3.1 3.7 Other 1.2 (1.1) 4.0 (3.2) $8.6 $5.1 $20.3 $25.0 ==== ==== ===== =====

    BFDS recorded lower revenues in fourth quarter 2012 associated with reduced levels of accounts serviced which was partially offset by lower operating expenses. Average daily client cash balances invested by BFDS were $1.2 billion during fourth quarter 2012 compared to $1.0 billion during fourth quarter 2011 from higher levels of transaction activity. Average interest rates earned on the balances increased from 0.07% in fourth quarter 2011 to 0.16% in fourth quarter 2012.

    The increase in equity in IFDS U.K. earnings from fourth quarter 2011 is primarily the result of revenues from new clients, partially offset by new client conversion costs. Shareowner accounts serviced by IFDS U.K. were 9.4 million at December 31, 2012, an increase of 100,000 accounts from September 30, 2012 and an increase of 1.3 million accounts from December 31, 2011. The increase in accounts from September 30, 2012 is attributable to organic growth in fourth quarter 2012. As previously announced, IFDS U.K. is in the process of converting new shareowner processing clients with approximately 200,000 accounts, which are expected to convert by March 31, 2013, and new life and pensions clients with 100,000 policies, which are expected to convert by June 30, 2013. New product development and client conversion costs will continue to affect IFDS U.K. earnings.

    The increase in IFDS L.P. earnings is attributable to higher revenues from a new client in Canada, partially offset by increased operating costs to support the new client. Shareowner accounts serviced by IFDS Canada were 11.3 million at December 31, 2012, an increase of 1.1 million accounts as compared to September 30, 2012 and an increase of 1.2 million accounts from December 31, 2011, both attributable to the new client conversion mentioned above.

    Equity in earnings of other unconsolidated affiliates for fourth quarter 2012 increased $2.3 million as compared to fourth quarter 2011, primarily from improved performance at DST's real estate and other affiliates.

    Other income, net

    Other income, net during fourth quarter 2012 decreased $2.6 million from fourth quarter 2011 to $6.5 million. The decrease in other income is mostly attributable to a decline in unrealized gains on trading securities associated with deferred compensation plans (the effect of which is offset in costs and expenses in the Financial Services Segment, as described above).

    Interest expense

    Interest expense for fourth quarter 2012 decreased $2.4 million to $9.5 million compared to fourth quarter 2011, principally from lower weighted average debt balances outstanding.

    Income taxes

    The Company's tax rate was 33.4% for fourth quarter 2012 as compared to 36.5 % in fourth quarter 2011, principally from lower state income taxes and from changes in the mix of domestic and international profits. Excluding the effect of discrete period items, the Company expects its tax rate to be approximately 35% for 2013, but this rate will likely vary depending on the timing of estimated 2013 sources of taxable income (e.g. domestic consolidated, international, and/or joint venture).

    Use of Non-GAAP Financial Information

    In addition to reporting operating income, pretax income, net income, net income attributable to DST Systems, Inc. and earnings per share on a GAAP basis, DST has also made certain non-GAAP adjustments which are described in the attached schedule titled "Description of Non-GAAP Adjustments" and are reconciled to the corresponding GAAP measures in the attached financial schedules titled "Reconciliation of Reported Results to Income Adjusted for Certain Non-GAAP Items" that accompany this earnings release. In making these non-GAAP adjustments, the Company takes into account the impact of items that are not necessarily ongoing in nature, that do not have a high level of predictability associated with them or that are non-operational in nature. Generally, these items include net gains on dispositions of business units, net gains (losses) associated with securities and other investments, restructuring and impairment costs and other similar items. Management believes the exclusion of these items provides a useful basis for evaluating underlying business unit performance, but should not be considered in isolation and is not in accordance with, or a substitute for, evaluating business unit performance utilizing GAAP financial information.

    Management uses non-GAAP measures in its budgeting and forecasting processes and to further analyze its financial trends and "operational run-rate," as well as making financial comparisons to prior periods presented on a similar basis. The Company believes that providing such adjusted results allows investors and other users of DST's financial statements to better understand DST's comparative operating performance for the periods presented.

    The Company has also presented certain information about its real estate holdings and related financial results on a "funds from operations" ("FFO") basis, which is defined as net income plus depreciation and amortization, including a pro-rata portion of depreciation and amortization of unconsolidated affiliates. The National Association of Real Estate Investment Trusts developed FFO as a non-GAAP financial measure of performance of an equity REIT. FFO is a widely used measure of the operating performance of real-estate companies and is typically provided by REIT's as a supplemental measure to U.S. generally accepted accounting principles net income available to common stockholders and earnings per share. FFO does not represent cash flows from operations as defined by GAAP, is not indicative that cash flows are adequate to fund all cash needs for the Company's real estate operations and should not be considered an alternative to net income or any other GAAP measure as a measurement of the results of our operations or our cash flows or liquidity as defined by GAAP. It should also be noted that the Company is not a REIT, and that not all REIT's calculate FFO the way the Company has, so comparisons with REIT's should be made with care. Management has provided this non-GAAP measure because it believes it will allow investors and other users of DST's financial statements to better understand the operating performance of DST's real estate holdings.

    DST defines Operating EBITDA as income from operations before depreciation and amortization. This supplemental non-GAAP liquidity measure is provided in addition to, but not as a substitute for, cash flow from operations. As a measure of liquidity, the Company believes Operating EBITDA is useful as an indicator of its ability to generate cash flow. Operating EBITDA, as calculated by the Company, may not be consistent with the computation of Operating EBITDA by other companies. The Company believes a useful measure of the Customer Communications and Investments and Other Segments contribution to DST's results is to focus on cash flow and DST's management believes Operating EBITDA is useful for this purpose. A reconciliation of Customer Communications Segment and Investments and Other Segment income from operations to Operating EBITDA is included in schedules that accompany this earnings release. The non-GAAP adjustments to these reconciliations are described in the attached schedule titled "Description of Non-GAAP Adjustments."

    DST's management uses each of these non-GAAP financial measures in its own evaluation of the Company's performance, particularly when comparing performance to past periods. DST's non-GAAP measures may differ from similar measures by other companies, even if similar terms are used to identify such measures. Although DST's management believes non-GAAP measures are useful in evaluating the performance of its business, DST acknowledges that items excluded from such measures may have a material impact on the Company's income from operations, pretax income, net income and earnings per share calculated in accordance with GAAP. Therefore, management typically uses non?GAAP measures in conjunction with GAAP results. Investors and users of our financial information should also consider the above factors when evaluating DST's results.

    *****

    Safe Harbor Statement

    Certain material presented in the press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, (i) all statements, other than statements of historical fact, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future or that depend on future events, or (ii) statements about our future business plans and strategy and other statements that describe the Company's outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "may," "will," "would," "should," "potential," "strategy," "anticipates," "estimates," "expects," "project," "predict," "intends," "plans," "believes," "targets" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated include, but are not limited to, the risk factors and cautionary statements included in the Company's periodic and current reports (Forms 10-K, 10-Q and 8-K) filed from time to time with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this press release to reflect new information, future events or otherwise.


    DST SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENT OF INCOME (In millions, except per share amounts) (Unaudited) Three Months Ended Year Ended December 31, December 31, ------------ ------------ 2012 2011 2012 2011 ---- ---- ---- ---- Operating revenues $487.0 $457.3 $1,892.4 $1,744.0 Out-of-pocket reimbursements 171.6 166.1 684.2 644.7 ----- ----- ----- ----- Total revenues 658.6 623.4 2,576.6 2,388.7 Costs and expenses 559.8 530.6 2,202.9 1,997.0 Depreciation and amortization (including goodwill impairment) 99.6 36.5 216.4 131.6 ---- ---- ----- ----- Income (loss) from operations (0.8) 56.3 157.3 260.1 Interest expense (9.5) (11.9) (43.5) (46.5) Other income, net 77.2 11.4 373.5 38.7 Equity in earnings of unconsolidated affiliates 22.4 4.4 32.2 21.7 ---- --- ---- ---- Income before income taxes and non-controlling interest 89.3 60.2 519.5 274.0 Income taxes 51.4 23.0 195.5 95.8 ---- ---- ----- ---- Net income 37.9 37.2 324.0 178.2 Net loss attributable to non-controlling interest 2.0 4.9 --- --- Net income attributable to DST Systems, Inc. $37.9 $39.2 $324.0 $183.1 ===== ===== ====== ====== Average common shares outstanding 45.0 44.1 44.9 45.7 Average diluted shares outstanding 46.1 44.7 45.8 46.3 Basic earnings per share $0.84 $0.89 $7.22 $4.01 Diluted earnings per share $0.82 $0.88 $7.08 $3.95

    DST SYSTEMS, INC. STATEMENT OF INCOME FROM OPERATIONS BY SEGMENT (In millions) (Unaudited) Three Months Ended December 31, 2012 ------------------------------------ Financial Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total ------------------ ----------------------- ------------------- ----------------------- ------------------ Operating revenues $318.5 $164.4 $4.1 $ $487.0 Intersegment operating revenues 2.3 1.9 10.2 (14.4) Out-of-pocket reimbursements 14.3 159.0 0.1 (1.8) 171.6 ---- ----- --- ---- ----- Total revenues 335.1 325.3 14.4 (16.2) 658.6 Costs and expenses 256.8 309.2 7.3 (13.5) 559.8 Depreciation and amortization (including goodwill impairment) 22.1 74.1 4.1 (0.7) 99.6 ---- ---- --- ---- ---- Income (loss) from operations $56.2 $(58.0) $3.0 $(2.0) $(0.8) ===== ====== ==== ===== ===== Three Months Ended December 31, 2011 ------------------------------------ Financial Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total ------------------ ----------------------- ------------------- ----------------------- ------------------ Operating revenues $294.0 $160.1 $3.2 $ $457.3 Intersegment operating revenues 2.1 1.9 11.0 (15.0) Out-of-pocket reimbursements 11.8 155.8 0.1 (1.6) 166.1 ---- ----- --- ---- ----- Total revenues 307.9 317.8 14.3 (16.6) 623.4 Costs and expenses 235.0 300.6 9.0 (14.0) 530.6 Depreciation and amortization (including goodwill impairment) 21.7 12.3 3.1 (0.6) 36.5 ---- ---- --- ---- ---- Income (loss) from operations $51.2 $4.9 $2.2 $(2.0) $56.3 ===== ==== ==== ===== =====

    DST SYSTEMS, INC. STATEMENT OF INCOME FROM OPERATIONS BY SEGMENT (In millions) (Unaudited) Year Ended December 31, 2012 ---------------------------- Financial Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total ------------------ ----------------------- ------------------- ----------------------- ------------------ Operating revenues $1,235.6 $642.0 $14.8 $ $1,892.4 Intersegment operating revenues 8.4 8.0 44.1 (60.5) Out-of-pocket reimbursements 54.8 636.7 0.3 (7.6) 684.2 ---- ----- --- ---- ----- Total revenues 1,298.8 1,286.7 59.2 (68.1) 2,576.6 Costs and expenses 997.7 1,214.9 47.9 (57.6) 2,202.9 Depreciation and amortization (including goodwill impairment) 92.0 107.4 19.6 (2.6) 216.4 ---- ----- ---- ---- ----- Income (loss) from operations $209.1 $(35.6) $(8.3) $(7.9) $157.3 ====== ====== ===== ===== ====== Year Ended December 31, 2011 ---------------------------- Financial Services Customer Communications Investments / Other Elimination Adjustments Consolidated Total ------------------ ----------------------- ------------------- ----------------------- ------------------ Operating revenues $1,129.6 $602.1 $12.3 $ $1,744.0 Intersegment operating revenues 8.8 7.7 44.0 (60.5) Out-of-pocket reimbursements 42.1 607.0 1.6 (6.0) 644.7 ---- ----- --- ---- ----- Total revenues 1,180.5 1,216.8 57.9 (66.5) 2,388.7 Costs and expenses 866.1 1,148.9 38.0 (56.0) 1,997.0 Depreciation and amortization (including goodwill impairment) 76.5 46.7 11.0 (2.6) 131.6 ---- ---- ---- ---- ----- Income (loss) from operations $237.9 $21.2 $8.9 $(7.9) $260.1 ====== ===== ==== ===== ======

    DST SYSTEMS, INC. OTHER SELECTED FINANCIAL INFORMATION (In millions) (Unaudited) December 31, December 31, Selected Balance Sheet Information 2012 2011 ---- ---- Cash and cash equivalents $88 $41 Debt 1,012 1,380 Year Ended December 31, ------------ Capital Expenditures, by Segment 2012 2011 ---- ---- Financial Services $64 $65 Customer Communications 38 25 Investments and Other 4 9

    DST Systems, Inc.
    Description of Non-GAAP Adjustments

    In addition to reporting operating income, pretax income, net income, net income attributable to DST Systems, Inc. and earnings per share on a GAAP basis, DST has also made certain non-GAAP adjustments that are described below and are reconciled to the corresponding GAAP measures in the attached financial schedules titled "Reconciliation of Reported Results to Income Adjusted for Certain Non-GAAP Items" that accompany this earnings release. DST's use of non-GAAP adjustments is further described in the section entitled "Use of Non?GAAP Financial Information."

    The following items, which occurred during the quarter ended December 31, 2012, have been treated as non-GAAP adjustments:

    --  Business advisory expenses associated with an action by the DST Board of
    Directors to retain independent advisors to assist the Board with its
    ongoing review of DST's business plan, assets and investment portfolio,
    included in costs and expenses, in the amount of $300,000.  The income
    tax benefit associated with these expenses was approximately $100,000.
    --  Employee termination expenses of $8.4 million associated with reductions
    in workforce, included in costs and expenses, of which $7.5 million is
    in the Financial Services Segment and $900,000 is in the Customer
    Communications segment.  The income tax benefit associated with these
    costs was approximately $1.2 million.
    --  Leased facility abandonment costs of $8.8 million associated with
    vacating certain leased facilities in the U.K. that were used by the
    Customer Communications Segment.  The $8.8 million of costs have been
    included in both costs and expenses ($8.1 million) and depreciation
    expense ($700,000) in the Customer Communications Segment. There was no
    income tax benefit associated with these costs.
    --  Net gains on U.S. real estate assets of $500,000 in the Investments and
    Other Segment. The Company recorded gains on the sale of U.S. real
    estate of $1.9 million which was included as a reduction of costs and
    expenses.  The Company also recorded impairments on certain U.S.
    properties of $1.4 million which was included in depreciation expense.
    The income tax expense associated with this net gain was approximately
    $200,000.
    --  Goodwill impairment of $60.8 million, included in depreciation and
    amortization in the Customer Communications Segment, associated with a
    reduction in the estimated fair value of the Customer Communications
    U.K. reporting unit.  There was no income tax benefit associated with
    this charge.
    --  Net gain on securities and other investments of $70.7 million, which
    were included in other income, net, is comprised of net realized gains
    from sales of available-for-sale securities of $67.1 million, net gains
    on private equity funds and other investments of $2.6 million and a
    dividend from a private company investment of $1.1 million, which were
    partially offset by other than temporary impairments on
    available-for-sale securities of $100,000.  The income tax expense
    associated with the aggregate net gains on securities and other
    investments was approximately $26.6 million.
    --  Net gain from unconsolidated affiliates of $13.8 million, included in
    equity in earnings of unconsolidated affiliates, is comprised of a $14.8
    million gain from the disposition of a Canadian real estate partnership
    by IFDS Canada, partially offset by impairments of other unconsolidated
    affiliates of $1 million related to real estate and other assets.  The
    income tax expense associated with this net gain was approximately $2.9
    million.
    --  An income tax benefit of approximately $3.9 million, including $2.3
    million related to the favorable resolution of a 2005 IRS refund claim
    for a domestic manufacturing deduction under Internal Revenue Code
    Section 199 and $1.6 million related to research and experimentation tax
    credits related to certain post-audit periods that are still subject to
    examination.
    --  An income tax benefit of approximately $700,000, resulting from a
    charitable contribution of marketable securities during the third
    quarter 2012.  The total income tax benefit from this transaction was $5
    million, of which $4.3 million was recorded through the effective tax
    rate in third quarter 2012 with the remainder being recorded in fourth
    quarter 2012.
    

    In addition to the items that occurred in the quarter ended December 31, 2012 as described above, the following items, which occurred during the nine months ended September 30, 2012, have been treated as non-GAAP adjustments:

    --  Business advisory expenses associated with an action by the DST Board of
    Directors to retain independent advisors to assist the Board with its
    ongoing review of DST's business plan, assets and investment portfolio,
    included in costs and expenses, in the amount of $1.3 million.  The
    income tax benefit associated with these expenses was approximately
    $500,000.
    --  Employee termination expenses of $8.9 million associated with reductions
    in workforce in the Financial Services Segment ($6.7 million) and the
    Customer Communications Segment ($2.2 million), which were included in
    costs and expenses.  The income tax benefit associated with these costs
    was approximately $3 million.
    --  Loss accrual of $1.9 million recorded on a dispute related to a 2001
    international software development agreement in the Financial Services
    Segment, which was included in costs and expenses.
    --  Leased facility abandonment costs of $2.2 million, included in costs and
    expenses in the Customer Communications Segment ($400,000), associated
    with properties not used in the U.K. operations and within the
    Investments & Other Segment ($1.8 million), associated with exiting a
    leased office building.  The aggregate income tax benefit associated
    with these costs was approximately $800,000.
    --  Impairment charges on certain U.S. real estate assets not currently used
    in the Company's operations of $7.6 million, included in depreciation
    and amortization expense in the Investments & Other Segment.  The charge
    was comprised of impairments in the U.S. of $7 million and
    internationally of $600,000.  The aggregate income tax benefit
    associated with these costs was approximately $3 million.
    --  Pretax costs associated with ceasing the development of a processing
    solution for the insurance market, in the amount of $8.3 million.  The
    costs were comprised of asset impairment charges of $5.8 million, which
    were included in depreciation and amortization expense, employee
    termination expenses of $1.9 million and other operating costs of $1.4
    million, which were both included in costs and expenses.  These costs
    were partially offset by the recognition of previously deferred IFDS
    L.P. software license revenues of $800,000 (DST's share), included in
    equity in earnings of unconsolidated affiliates, related to the 2011
    sale of its Percana software license to DST.  The aggregate income tax
    benefit associated with these net costs is $3.2 million.
    --  Expenses and net gain related to a charitable contribution of marketable
    securities.  The charitable contribution expense of $11 million,
    recorded by the Investments and Other Segment, was offset by a book gain
    of $8.9 million from the disposition of securities, which was included
    in other income, net, and resulted in a net pretax expense of $2.2
    million.  The aggregate income tax benefit associated with this
    charitable contribution was approximately $5 million.  However, the tax
    effect recorded through the effective tax rate, resulted in $4.3 million
    being recognized during the nine months ended September 30, 2012.
    --  Net gain on securities and other investments in the amount of $262.5
    million, included in other income, is comprised of a cash dividend and
    gain on sale of a private company investment of $186 million and net
    gains on the disposition of securities and other investments of $76.5
    million.  In May 2012, the Company received a cash dividend of $47.3
    million and realized a gain of $138.7 million on the sale of a portion
    of its shares in a privately held company investment.  The $76.5 million
    of net gains on securities and other investments for the nine months
    ended September 30, 2012 was comprised of net realized gains from sales
    of available-for-sale securities of $72.1 million and net gains on
    private equity funds and other investments of $6.7 million, partially
    offset by other than temporary impairments on available-for-sale
    securities of $2.3 million.  The aggregate income tax expense associated
    with the dividend and gain on securities and other investments was
    approximately $98.6 million.
    --  Net loss from unconsolidated affiliates of $2.7 million, which are
    included in equity in earnings of unconsolidated affiliates, is
    comprised of an impairment of $3.1 million, partially offset by a gain
    of $400,000 from the receipt of a cash distribution from a previously
    impaired investment.  The aggregate income tax benefit associated with
    this expense was approximately $1 million.
    --  An income tax benefit of approximately $14.4 million, resulting from the
    resolution of research and experimentation credits.
    

    The following items, which occurred during the quarter ended December 31, 2011, have been treated as non-GAAP adjustments:

    --  Business development expenses (legal, accounting and other professional
    fees) associated with business acquisitions, included in costs and
    expenses, in the amount of $1.4 million.  The income tax benefit
    associated with these expenses was approximately $600,000.  The business
    development expenses incurred during fourth quarter 2011 were associated
    with the completion of the ALPS transaction.
    --  Business advisory expenses associated with an action by the DST Board of
    Directors to retain independent advisors to assist the Board with its
    ongoing review of DST's business plan, assets and investment portfolio,
    included in costs and expenses, in the amount of $1 million.  The income
    tax benefit associated with these expenses was approximately $400,000.
    --  Restructuring cost associated with amending sales / marketing agreements
    of acquired business, included in costs and expenses, in the amount of
    $7.3 million. The income tax benefit associated with this expense was
    approximately $2.9 million.
    --  Loss accrual recorded for a regulatory inquiry regarding the processing
    of certain pharmacy claims during the period 2006 to 2009, included in
    costs and expenses, in the amount of $3.5 million. There were no income
    tax benefits attributed to this loss accrual.
    --  Employee termination expenses of $1 million associated with reductions
    in workforce in the Customer Communications Segment, included in costs
    and expenses.  The aggregate income tax benefit associated with these
    costs was approximately $300,000.  A portion of this cost ($200,000) was
    attributable to the non-controlling interest.
    --  Net gain on securities and other investments of $2.3 million, which were
    included in other income, net, was comprised of net realizable gains
    from sales of available-for-sale-securities of $3 million and net gains
    on private equity funds and other investments of $800,000, partially
    offset by other than temporary impairments on available-for-sale
    securities of $1.5 million. The income tax expense associated with this
    net gain was approximately $800,000.
    --  Impairment of unconsolidated affiliate, in the amount of $700,000,
    included in equity in earnings of unconsolidated affiliates.  The income
    tax benefit associated with this expense was approximately $200,000.
    

    In addition to the items that occurred in the quarter ended December 31, 2011, as described above, the following items, which occurred during the nine months ended September 30, 2011, have been previously reported as non-GAAP adjustments:

    --  Contract termination payment, net of certain costs, resulting from the
    termination of a Financial Services subaccounting client, in the amount
    of $2 million.  The net contract termination gain was comprised of
    operating revenues of $3.5 million, partially offset by certain costs of
    $1.5 million that were included in costs and expenses.  The aggregate
    income tax expense associated with this net contract termination gain
    was approximately $800,000.
    --  Employee termination expenses of $5.4 million associated with reductions
    in workforce in the Financial Services Segment ($1.3 million) and the
    Customer Communications Segment ($4.1 million), which were included in
    costs and expenses.  The aggregate income tax benefit associated with
    these costs was approximately $2.1 million.
    --  Business development expenses (legal, accounting, investment banking and
    other professional fees) associated with 2011 business acquisitions,
    included in costs and expenses, in the amount of $1.9 million ($1.7
    million in Financial Services and $200,000 in Customer Communications).
    The income tax benefit associated with these expenses was approximately
    $800,000.
    --  Business advisory expenses associated with an action by the DST Board of
    Directors to retain independent advisors to assist the Board with its
    ongoing review of DST's business plan, assets and investment portfolio,
    included in cost and expenses, in the amount of $800,000.  The income
    tax benefit associated with these expenses was approximately $300,000.
    --  Net gain on securities and other investments of $14.9 million, included
    in other income, was comprised of net realized gains from sales of
    available-for-sale securities of $18.8 million, partially offset by net
    losses on private equity funds and other investments of $1.6 million and
    other than temporary impairments on available-for-sale securities of
    $2.3 million. The income tax expense associated with this net gain was
    approximately $5.9 million.
    --  Net loss associated with the repurchase of senior convertible debentures
    in the amount of $1.2 million, which was included in other income, net.
    The income tax benefit associated with this net loss was approximately
    $400,000.
    --  Employee termination expenses at an unconsolidated affiliate, BFDS,
    associated with a reduction in workforce, included in equity in earnings
    of unconsolidated affiliates in the amount of $2.6 million. The income
    tax benefit associated with these expenses was approximately $300,000.
    

    DST SYSTEMS, INC. RECONCILIATION OF REPORTED RESULTS TO INCOME ADJUSTED FOR CERTAIN NON-GAAP ITEMS Three Months Ended December 31, (Unaudited - in millions, except per share amounts) 2012 ---- Operating Pretax Net DST Diluted Income (Loss) Income Income Earnings* EPS ------------ ------ ------ -------- --- Reported GAAP income (loss) $(0.8) $89.3 $37.9 $37.9 $0.82 Adjusted to remove: Included in operating income: Business advisory expenses -Financial Services 0.3 0.3 0.2 0.2 Employee termination expenses -Financial Services 7.5 7.5 6.4 6.4 0.14 Employee termination expenses -Customer Communications 0.9 0.9 0.8 0.8 0.02 Leased facility abandonment costs - Customer Communications 8.8 8.8 8.8 8.8 0.19 Net gain on real estate assets -Investments & Other (0.5) (0.5) (0.3) (0.3) (0.01) Impairment of goodwill - Customer Communications 60.8 60.8 60.8 60.8 1.32 Included in non- operating income: Net gain on securities and other investments (70.7) (44.1) (44.1) (0.95) Net gain from unconsolidated affiliates (13.8) (10.9) (10.9) (0.24) Income tax refund claims (3.9) (3.9) (0.08) Income tax benefit on charitable contribution of securities (0.7) (0.7) (0.02) Adjusted Non-GAAP income $77.0 $82.6 $55.0 $55.0 $1.19 ===== ===== ===== ===== ===== 2011 ---- Operating Pretax Net DST Diluted Income Income Income Earnings* EPS ------ ------ ------ -------- --- Reported GAAP income $56.3 $60.2 $37.2 $39.2 $0.88 Adjusted to remove: Included in operating income: Business development expenses -Financial Services 1.4 1.4 0.8 0.8 0.02 Business advisory expenses -Financial Services 1.0 1.0 0.6 0.6 0.01 Restructuring cost to amend sales agreements -Financial Services 7.3 7.3 4.4 4.4 0.10 Loss accrual -Financial Services 3.5 3.5 3.5 3.5 0.07 Employee termination expenses -Customer Communications 1.0 1.0 0.7 0.5 0.01 Included in non- operating income: Net gain on securities and other investments (2.3) (1.5) (1.5) (0.03) Impairment of unconsolidated affiliate 0.7 0.5 0.5 0.01 Adjusted Non-GAAP income $70.5 $72.8 $46.2 $48.0 $1.07 ===== ===== ===== ===== =====

    Note: See the "Description of Non-GAAP Adjustments" section for a description of each of the above adjustments and see the Use of Non- GAAP Financial Information section for management's reasons for providing non-GAAP financial information. * DST Earnings has been defined as "Net income attributable to DST Systems, Inc." (taking into account the net loss attributable to non- controlling interest).

    DST SYSTEMS, INC. RECONCILIATION OF REPORTED RESULTS TO INCOME ADJUSTED FOR CERTAIN NON-GAAP ITEMS Year Ended December 31, (Unaudited - in millions, except per share amounts) 2012 ---- Operating Pretax Net DST Diluted Income Income Income Earnings* EPS ------ ------ ------ -------- --- Reported GAAP income $157.3 $519.5 $324.0 $324.0 $7.08 Adjusted to remove: Included in operating income: Business advisory expenses - Financial Services 1.6 1.6 1.0 1.0 0.02 Employee termination expenses - Financial Services 14.2 14.2 10.6 10.6 0.23 Employee termination expenses - Customer Communications 3.1 3.1 2.5 2.5 0.06 Loss accrual -Financial Services 1.9 1.9 1.9 1.9 0.04 Leased facility abandonment costs -Customer Communications 9.2 9.2 9.1 9.1 0.20 Leased facility abandonment costs -Investments & Other 1.8 1.8 1.1 1.1 0.02 Impairment of goodwill -Customer Communications 60.8 60.8 60.8 60.8 1.33 Net loss on real estate assets - Investments & Other 7.1 7.1 4.3 4.3 0.09 Included in operating income and non-operating income: Asset impairment, employee termination and other expenses from insurance processing business -Financial Services 9.1 8.3 5.1 5.1 0.11 Charitable contribution of securities -Investments & Other 11.0 2.1 (2.9) (2.9) (0.06) Included in non-operating income: Net gain on securities and other investments (333.2) (208.0) (208.0) (4.54) Net gain from unconsolidated affiliates (11.1) (9.2) (9.2) (0.20) Income tax refund claims (18.3) (18.3) (0.40) Adjusted Non-GAAP income $277.1 $285.3 $182.0 $182.0 $3.98 ====== ====== ====== ====== ===== 2011 ---- Operating Pretax Net DST Diluted Income Income Income Earnings* EPS ------ ------ ------ -------- --- Reported GAAP income $260.1 $274.0 $178.2 $183.1 $3.95 Adjusted to remove: Included in operating income: Contract termination payment, net -Financial Services (2.0) (2.0) (1.2) (1.2) (0.03) Employee termination expenses - Financial Services 1.3 1.3 0.8 0.8 0.02 Employee termination expenses - Customer Communications 5.1 5.1 3.2 3.0 0.06 Business development expenses - Financial Services 3.1 3.1 1.8 1.8 0.04 Business development expenses - Customer Communications 0.2 0.2 0.1 0.1 Business advisory expenses - Financial Services 1.8 1.8 1.1 1.1 0.02 Restructuring cost to amend sales agreements -Financial Services 7.3 7.3 4.4 4.4 0.10 Loss accrual -Financial Services 3.5 3.5 3.5 3.5 0.08 Included in non-operating income: Net gain on securities and other investments (17.2) (10.5) (10.5) (0.23) Net loss on repurchase of convertible debentures 1.2 0.8 0.8 0.02 Employee termination expenses at unconsolidated affiliate 2.6 2.3 2.3 0.05 Impairment of unconsolidated affiliate 0.7 0.5 0.5 0.01 Adjusted Non-GAAP income $280.4 $281.6 $185.0 $189.7 $4.09 ====== ====== ====== ====== =====

    Note: See the "Description of Non- GAAP Adjustments" section for a description of each of the above adjustments and see the Use of Non-GAAP Financial Information section for management's reasons for providing non-GAAP financial information. * DST Earnings has been defined as "Net income attributable to DST Systems, Inc." (taking into account the net loss attributable to non- controlling interest).


    DST SYSTEMS, INC. RECONCILIATION OF INCOME (LOSS) FROM OPERATIONS TO EBITDA CUSTOMER COMMUNICATIONS SEGMENT (Unaudited - in millions) Three Months Ended Year Ended December 31, December 31, ------------ ------------ 2012 2011 2012 2011 ---- ---- ---- ---- Reported GAAP income (loss) from operations $(58.0) $4.9 $(35.6) $21.2 Adjusted to remove: Depreciation and amortization (including goodwill impairment) 74.1 12.3 107.4 46.7 ---- ---- ----- ---- Operating EBITDA, before non-GAAP items 16.1 17.2 71.8 67.9 Adjusted to remove: Leased facility abandonment costs 8.1 8.5 Employee termination expenses 0.9 1.0 3.1 5.1 Business development expenses 0.2 Adjusted operating EBITDA, after non-GAAP items $25.1 $18.2 $83.4 $73.2 ===== ===== ===== =====

    Note: See the "Description of Non-GAAP Adjustments" section for a description of each of the above adjustments and see the "Use of Non-GAAP Financial Information" section for management's reasons for providing non-GAAP financial information.


    DST SYSTEMS, INC. RECONCILIATION OF INCOME (LOSS) FROM OPERATIONS TO EBITDA INVESTMENTS AND OTHER SEGMENT - U.S. REAL ESTATE OPERATIONS (Unaudited - in millions) Three Months Ended Year Ended December 31, December 31, ------------ ------------ 2012 2011 2012 2011 ---- ---- ---- ---- Reported GAAP income (loss) from operations $3.0 $2.2 $(8.3) $8.9 Adjusted to remove: GAAP income (loss) from non U.S. real estate operations (0.1) (0.3) (12.1) (1.0) ---- ---- ----- ---- U.S. Real Estate Operations GAAP income from operations 3.1 2.5 3.8 9.9 Adjusted to remove: Depreciation and amortization (including goodwill impairment) 3.6 2.4 17.4 9.0 Operating EBITDA, before non-GAAP items 6.7 4.9 21.2 18.9 Adjusted to remove: Gain on sale of real estate (1.9) (1.9) Leased facility abandonment costs 1.8 Adjusted operating EBITDA, after non-GAAP items $4.8 $4.9 $21.1 $18.9 ==== ==== ===== =====

    Note: See the "Description of Non-GAAP Adjustments" section for a description of each of the above adjustments and see the "Use of Non-GAAP Financial Information" section for management's reasons for providing non-GAAP financial information.

    DST SYSTEMS, INC. RECONCILIATION OF EARNINGS BEFORE INTEREST AND INCOME TAXES TO FUNDS FROM OPERATIONS ("FFO") AND DILUTED EPS INVESTMENTS AND OTHER SEGMENT - U.S. REAL ESTATE OPERATIONS (Unaudited - in millions, except per share amounts) Three Months Ended Year Ended December 31, December 31, ------------ ------------ 2012 2011 2012 2011 ---- ---- ---- ---- Reported GAAP earnings before interest and income taxes $85.2 $8.1 $360.5 $39.9 Adjusted to remove: GAAP earnings from non U.S. real estate operations 81.6 5.2 352.7 29.5 ---- --- ----- ---- Reported U.S. Real Estate Operations GAAP earnings before interest and income taxes 3.6 2.9 7.8 10.4 Less: interest expense (1.2) (1.5) (5.7) (6.2) Less: income tax benefit on earnings above 1.5 2.2 1.6 2.2 --- --- --- --- Reported U.S. Real Estate Operations GAAP net income $3.9 $3.6 $3.7 $6.4 ==== ==== ==== ==== Reported U.S. Real Estate Operations GAAP diluted EPS $0.08 $0.08 $0.08 $0.14 ===== ===== ===== ===== Reported U.S. Real Estate Operations GAAP net income $3.9 $3.6 $3.7 $6.4 Adjusted to remove net income effect of non-GAAP items: Impairment of real estate assets - U.S. 0.9 5.1 Gain on sale of real estate - U.S. (1.2) (1.2) Leased facility abandonment costs - U.S. 1.1 Adjusted U.S. Real Estate Operations non- GAAP net income $3.6 $3.6 $8.7 $6.4 ==== ==== ==== ==== Adjusted U.S. Real Estate Operations non- GAAP diluted EPS $0.08 $0.08 $0.19 $0.14 ===== ===== ===== ===== Adjusted U.S. Real Estate Operations non- GAAP net income $3.6 $3.6 $8.7 $6.4 Adjusted to remove: Depreciation and amortization (including goodwill impairment) 2.2 * 2.4 9.0 * 9.0 Pro-rata portion of depreciation and amortization of unconsolidated affiliates 2.1 2.1 8.4 8.7 U.S. Real Estate Funds from operations, non-GAAP $7.9 $8.1 $26.1 $24.1 ==== ==== ===== ===== U.S. Real Estate Funds from operations non-GAAP diluted EPS $0.17 $0.18 $0.57 $0.52 ===== ===== ===== =====

    Note: See the "Description of Non-GAAP Adjustments" section for a description of each of the above adjustments and see the "Use of Non-GAAP Financial Information" section for management's reasons for providing non- GAAP financial information. * Adjusted for applicable Non- GAAP items

    DST Systems, Inc.

    CONTACT: DST, Kenneth V. Hager, +1-816-435-8603, Vice President and Chief
    Financial Officer; or Media, Matthew Sherman or Nicholas Lamplough both of
    Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, or Investors, Art
    Crozier or Jennifer Shotwell or Larry Miller, all of Innisfree M&A
    Incorporated, +1-212-750-5833




    SHFL entertainment to Present "A Better Game" at 2013 International Casino Exhibition

    LAS VEGAS, Jan. 31, 2013 /PRNewswire/ -- SHFL entertainment, Inc. ("SHFL" or the "Company") will show how its iGaming offerings and other product lines offer "A Better Game" during the 2013 International Casino Exhibition ("ICE") at the ExCel London International Exhibition & Convention Centre, February 5-7, 2013. Product demonstrations will be available at stand #S6-340.

    (Photo: http://photos.prnewswire.com/prnh/20130131/LA51684)

    (Logo: http://photos.prnewswire.com/prnh/20121008/LA88315LOGO)

    "ICE provides us with an excellent opportunity to highlight our most cutting-edge solutions to meet our European customers' needs," said Gavin Isaacs, Chief Executive Officer for SHFL. "Over half of our business is in the international marketplace, and our European customers are important constituents of our business. With our recently established Gibraltar and Alderney operations, we are also delighted to demonstrate our suite of iGaming products for the European online marketplace."

    SHFL's exhibit will feature products from each of its five product categories - iGaming, utilities, proprietary table games, electronic table systems, and slot machines - and will emphasize how it provides...

    ...A Better iGaming Experience

    SHFL will feature its suite of specialty table games available for online play, which includes Three Card Poker,Ultimate Texas Hold'em,Casino War,Fortune Pai Gow Poker,Mississippi Stud,Let It Ride,Four Card Poker,Crazy 4 Poker, Raise It Up,Six Card Poker and blackjack with Bet the Set, Royal Match, and King's Bounty side bets. Using thin-client, elastic cloud technology, SHFL's state-of-the-art online platform and its iGaming products are designed to fit seamlessly into a variety of online operations.

    The Company will highlight the advanced capabilities of its HTML5-based mobile games, spotlighting the high quality and compelling nature of the game content.

    SHFL will also proudly introduce its first game for the social casino, Mississippi Stud, at ICE. SHFL's social casino games are designed to enhance an operator's free-to-play ecosystem by promoting synergies between the land-based and online environments, such as encouraging new user sign-ups and integrating casino rewards points.

    ...Better Security and Efficiency through Enhanced Utility Offerings

    SHFL will unveil its new ChipStar roulette chip-sorting machine at ICE. The Company's newest utility innovation will feature the latest technology to deliver an exceptionally smooth, efficient, and accurate chip sorting process.

    Debuting at the 2012 Global Gaming Expo (G2E) in October, the DeckMate 2 card shuffler will be a highlighted utility product for SHFL at ICE. This state-of-the-art poker shuffler offers significant performance and security improvements over its predecessor, the DeckMate, which has been a staple in the poker market for over 10 years. The DeckMate 2 boasts a shuffle time of 22 seconds, which is twice as fast as the original, and increases game security and integrity through built-in optical card recognition. Both wear on cards and the need for frequent shuffler maintenance are reduced due to an innovative new shuffling method. Other exciting features include an on-board timer, which allows operators to call the "clock", and a remote touchscreen display with an intuitive user interface for card verification.

    Other utility offerings highlighted at the show include the MD3 baccarat and blackjack shuffler; the one2six single and multi-deck continuous shuffler; the i-Deal shuffler for single-deck specialty games; the i-Shoe Auto optical card-reading shoe for baccarat and blackjack; the 24" double-sided LCD i-Score baccarat viewer; the i-Verify LCD touch-screen for "house way" games; the Deck Checker card verification system; and the Easy Chipper D chip sorter.

    ...Better Specialty Games and Progressive Technology

    Global Gaming Business voted SHFL's new House Money side bet as the "Best Table Game Product" in 2012. In House Money side bet for blackjack, the player's first two cards must be a straight, pair, straight flush, or Ace-King suited to win the bet, but the winning doesn't necessarily stop there. All or part of the player's side bet winnings may be added to their standard wager and play continues like a traditional game of blackjack. House Money has been described as an ordinary side bet with an intriguing twist, which provides players with a new level of excitement and operators with a higher hold percentage. The House Money side bet is also available for baccarat.

    The Company will debut a progressive version of Big Raise Stud Poker, a five-card poker game where the player's three cards are combined with two community cards to make a five-card poker hand and a player can win with a pair of 6s or better. A 3 Card Bonus side bet wager is featured with the game and wins if the player's three cards make a pair or better, regardless of the player choosing to play or fold.

    Other progressive titles that will be shown at ICE include: Mississippi Stud, Ultimate Texas Hold'em, and Crazy 4 Poker. All progressives will be running on SHFL's next generation Nexus Command progressive hardware, which combines an intuitive dealer interface with electronic chip sensors embedded in the table to allow players to place an optional jackpot wager to potentially win fixed prizes or a continuously incrementing progressive jackpot. The Nexus Command hardware is compatible with the Company's Operator Wide Area Progressive ("OWAP") technology, which provides casino operators with the ability to offer linked progressive jackpots across multiple properties, leading to faster incrementing and more frequent jackpots, while delivering even more excitement to the tables.

    Better Technology with e-Table Innovations

    The Company will display Rapid Fusion from its Rapid line, which combines a live dealer with a touchscreen betting interface, resulting in enhanced game security and increased productivity for casino operators. Rapid Fusion allows for concurrent play of four games at the same time (e.g. two baccarat, one sic bo, one roulette or three roulette, one baccarat). The user-friendly, 22" widescreen interface features tabs, which show table status, countdown, wagers, and results from each game, and allow for fast switching between games.

    i-Table Roulette and i-Table Blackjack will also be on display at ICE, which are both now available with additional language options.

    ...Better Slot Content

    SHFL will have 7 slot titles on display this year, further showcasing its deep portfolio of content and highlighting its growing success in the international marketplace.

    Debuting at the Australasian Gaming Expo in August 2012 and given its strong reception at G2E 2012, The Flintstones(TM) will be prominently displayed at ICE. This three-level, low-denomination standalone progressive features a suite of exciting base games and attractive jackpot prizes along with the exciting "mini-reel" feature trigger.

    SHFL's slot machine lineup will also feature: 88 Fortunes, 5 Treasures, Tiger Power, Chomp, Cape Fortune, and Oink. All of the titles offer unique features like new mathematical models, new jackpot triggers, and new themes.

    THE FLINTSTONES and all related characters and elements are trademarks of and (C) Hanna-Barbera.
    (s12)

    About SHFL entertainment, Inc.
    SHFL entertainment, Inc. is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service. The Company operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in five distinct categories: Utility products, which include automatic card shufflers and roulette chip sorters; Proprietary Table Games, which includes live games, side bets and progressives; Electronic Table Systems, which include various e-Table game platforms; Electronic Gaming Machines, which include video slot machines; and newly introduced iGaming, which features online versions of SHFL's table games, social gaming, and mobile applications. The Company is included in the S&P SmallCap 600 Index. Information about the Company and its products can be found on the Internet at www.SHFL.com, or on Facebook and Twitter.

    Forward Looking Statements
    This release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this release other than statements that are purely historical are forward-looking statements. Forward-looking statements in this press release include, without limitation: our anticipation that all of our products and game titles will be accepted in all of our markets, will be commercially successful and will be received and in-demand by casinos and their customers; our strategy and ability for innovation and exploitation of our technology, brands, and intellectual property across all of our product lines, including our iGaming content;; our expectation that our products will perform as they are designed to do and to and will meet our profitability, performance and innovation expectations; our belief that the requirements of our privileged licenses will not be changed, altered or revoked in a manner that would impact our ability to conduct our business or market our products as currently conducted or as we anticipate doing so. Our beliefs, expectations, forecasts, objectives, anticipations, intentions and strategies regarding the future, including without limitation those concerning expected operating results, revenues and earnings are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from results contemplated by the forward-looking statements, including but not limited to: unexpected changes in the market and economic conditions and reduced demand for or increased competition with SHFL's products; our unanticipated inability to accomplish our innovation objectives or our inability to accurately gauge the commercial appeal of our products; increased infringement on SHFL's intellectual property or proprietary brands; unanticipated changes in the laws, rules or regulations governing gaming and iGaming and the regulation of gaming in all markets.

    Photo: http://photos.prnewswire.com/prnh/20130131/LA51684
    http://photos.prnewswire.com/prnh/20121008/LA88315LOGO
    PRN Photo Desk, photodesk@prnewswire.com SHFL entertainment, Inc.

    CONTACT: Julia Boguslawski, Investor Relations/Corporate Communications,
    +1-702-897-7150, jboguslawski@shfl.com; Gavin Isaacs, CEO or Linster W.
    Fox, CFO, +1-702-897-7150, +1-702-270-5161

    Web site: http://www.shufflemaster.com/




    MetroPCS Goes Big Display, Big Value with New LG Spirit(TM) 4G SmartphoneConsumers can pair 4.5-inch touchscreen LG smartphone at $199 with 4G LTE plans starting at $40

    DALLAS, Jan. 31, 2013 /PRNewswire/ -- MetroPCS Communications, Inc. is going big in 2013 with the launch of the Spirit(TM) 4G, a 4.5-inch touchscreen Android(TM) smartphone from LG Electronics. The Spirit 4G packs top-of-the-line features in its sleek and stylish frame with a crystal-clear screen and 4G LTE connectivity for $199 plus tax after mail-in rebate - all with no annual contract.

    (Photo: http://photos.prnewswire.com/prnh/20130131/DA51432)

    (Logo: http://photos.prnewswire.com/prnh/20100714/DA34639LOGO-b)

    The LG Spirit 4G builds on MetroPCS' success with other LG 4G LTE models - the Esteem, Connect 4G and Motion 4G - by taking features and ease of use to the next level:

    --  Android 4.0 (Ice Cream Sandwich)
    --  4.5-inch touchscreen with Corning Gorilla Glass(R) beautifully displays
    pictures, video and other content
    --  1.2GHz dual-core processor and powerful 2150mAh battery provides easy
    multitasking throughout the day
    --  5MP rear camera with helpful features like LED flash, Cheese Shutter, &
    Time Catch Shot to capture the right pictures at the right moments
    --  1080p True-to-Life HD video recording for life's moving moments
    --  1.3MP front camera for video chat
    --  QuickMemo(TM) for convenient on-screen notation to express and share
    ideas
    --  joyn(TM) by MetroPCS capability delivers a unified and intuitive way to
    share content with enriched services like integrated instant messaging
    or chat, WiFi and video calling. The official joyn app can be downloaded
    via Google Play and the @metro App Store(TM).
    --  MetroPCS' 4G LTE Mobile Hotspot service support (for an additional
    monthly charge)
    

    The value doesn't stop with all the features found in the Spirit 4G thanks to MetroPCS' recently simplified 4G LTE rate plans, which begin at $40 and offer unlimited 4G LTE talk, text and data for only $60 - taxes and regulatory fees included. The company also unveiled the best deal in town for unlimited on-demand mobile music service with access to Rhapsody for only $5 per month, available on all current Android and 4G LTE rate plans.

    MetroPCS and LG are also kicking off the All-Star Spirit campaign, which benefits After-School All-Stars (ASAS), a non-profit organization dedicated to providing academic support, enrichment opportunities and health & fitness activities that equip participants with skills, experiences and relationships needed to succeed in middle school, high school, college and the 21st century workforce. MetroPCS and LG are supporting ASAS' efforts to provide high-school readiness and after-school programming to middle schoolers to put them on the path toward graduation. Every LG Spirit 4G purchased online and in ASAS markets* will contribute to the donation that will have a direct impact on children involved in ASAS programming. More information about the campaign, which begins next week, can be found at www.metropcs.com/ASAS.

    The LG Spirit 4G is available starting today in stores and online at www.metropcs.com for $199 plus tax after $70 mail-in rebate for a limited time.

    For more information, please visit:
    Details on rate plans and service features: www.metropcs.com/plans
    MetroPCS Terms and Conditions of Service: http://www.metropcs.com/metro/tac/termsAndConditions.jsp?terms=Terms%20and%20Conditions%20of%20Service
    Press resources: www.metropcs.com/presscenter
    Follow MetroPCS on Twitter: www.twitter.com/metropcs
    Become a fan of MetroPCS on Facebook: www.facebook.com/metropcs
    View MetroPCS' latest videos: www.YouTube.com/metropcs

    About MetroPCS Communications, Inc.

    Dallas-based MetroPCS Communications, Inc. is a provider of no annual contract, unlimited wireless communications service for a flat rate. MetroPCS is the fifth largest facilities-based wireless carrier in the United States based on number of subscribers served. With Metro USA(SM), MetroPCS customers can use their service in areas throughout the United States covering a population of over 280 million people. As of December 31, 2012 MetroPCS had approximately 8.9 million subscribers. For more information please visit www.metropcs.com.

    About LG Electronics USA

    LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $49 billion global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative mobile phones, home entertainment products, home appliances, and air conditioning systems and energy solutions, all under LG's "Life's Good" marketing theme. LG Electronics is a 2012 ENERGY STAR(R) Partner of the Year. For more information, please visit www.LG.com.

    * Promotion only valid online and at MetroPCS corporate stores in the Dallas, Orlando, Atlanta, LA, Las Vegas, San Francisco, New York and Miami metropolitan areas (the "Markets") or online sales to residents of the Markets. Limit one donation per LG Spirit phone sold. No rain checks. Information concerning After-School All-Stars (ASAS) including financial, licensing or charitable purposes(s) may be obtained, without cost, by writing to Mae Tuck (5670 Wilshire Blvd, Ste. 620, Los Angeles, CA 90036), or by calling (323) 938-3232. In addition, residents of the following states may obtain financial and/or licensing information from their states, as indicated. Registration with these states, or any other state, does not imply endorsement by the state. Florida: A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE, WITHIN THE STATE, 1-800-435-7352. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. New Jersey: INFORMATION FILED WITH THE ATTORNEY GENERAL CONCERNING THIS CHARITABLE SOLICITATION AND THE PERCENTAGE OF CONTRIBUTION RECEIVED BY THE CHARITY DURING THE LAST REPORTING PERIOD THAT WERE DEDICATED TO THE CHARITABLE PURPOSE MAY BE OBTAINED FROM THE ATTORNEY GENERAL OF THE STATE OF NEW JERSEY BY CALLING 1-973-504-6215 AND IS AVAILABLE ON THE INTERNET AT WWW.NJCONSUMERAFFAIRS.GOV/OCP.HTM#CHARITY. REGISTRATION WITH THE ATTORNEY GENERAL DOES NOT IMPLY ENDORSEMENT. New York: A copy of the most recent annual report of ASAS is available from the State of New York Department of Law, Charities Bureau, 120 Broadway, New York, New York 10271. Pennsylvania: The official registration and financial information of ASAS may be obtained from the Pennsylvania Department of State by calling toll-free, within Pennsylvania, 1-800-732-0999. Registration does not imply endorsement. Deductibility: Contributions are tax deductible to the extent permitted by law. This purchase is not tax deductible.

    Photo: http://photos.prnewswire.com/prnh/20100714/DA34639LOGO-b
    http://photos.prnewswire.com/prnh/20130131/DA51432
    AP PhotoExpress Network: PRN9
    PRN Photo Desk, photodesk@prnewswire.com MetroPCS Communications, Inc.

    CONTACT: Media, Drew R. Crowell, GolinHarris for MetroPCS,
    +1-972-341-2578, dcrowell@golinharris.com; or Conor Campbell, LG-One,
    +1-858-805-6631, conor.campbell@lg-one.com; or Investor Relations, Jim
    Mathias, Director Investor Relations, +1-214-570-4641,
    investor_relations@metropcs.com

    Web site: http://www.metropcs.com/
    http://www.LG.com/




    CollegeHumor And Awkward Hug Team To Launch "Bout" - A Social Photo-Taking GameFree Mobile App Lets Users Compete with Friends to Take the Best Pictures

    NEW YORK, Jan. 31, 2013 /PRNewswire/ -- Leading comedy brand CollegeHumor and indie game developer Awkward Hug have teamed to launch Bout, a new free gaming app for iOS devices. A social photo-taking game, Bout pits players' photography skills and cleverness against their friends' for the chance to win in-game coins and earn bragging rights. With two ways to play--as a competitor or a judge--players race to submit the most creative pictures in response to Bout prompts, resulting in an endless stream of amazing, funny photos. Bout is available now on the App Store.

    Bout turns taking photos into a competition amongst friends by giving players an opportunity to put the pictures they're already snapping with their mobile devices to use. As a Bout judge, players will select an inspiring phrase or category from a list of prompts such as "Something Contagious," "Art Made From Desk Supplies" or "A Guilty Pleasure," and post the challenge to friends playing the game. Users can also play by submitting photos to their friends' open Bout challenges. The first five submissions make up a completed Bout, and are in contention for the win. Images are revealed anonymously to the judge who selects their favorite as the winner, and the identity of the players is revealed to all. Coins are awarded at the completion of each Bout--ten to the winner, two to other players--and can be used to refresh the challenge prompt list, start additional Bouts, unlock themed challenge bundles and create custom Bouts. Additional coins can be purchased through the app.

    In addition to being easy to play, addictively fun and creatively inspiring, Bout is also a social platform. At the heart of the game is a feed of completed Bouts--ultimately a series of photos of and by players and their friends--complete with in-game comments and "(C)'s." Not only can players register for Bout through Facebook--which automatically connects them to Facebook friends already playing the game--it's easy to share completed Bouts through Facebook, Twitter, Tumblr and Instagram directly from the app. Plus, every day there's a new "Global Bout," a daily challenge open to all players where users vote each image up or down to decide the winner.

    "Bout was born from a conversation about the social nature of creativity and the success of games that combine creativity and humor with gameplay," says Julie Babb, co-founder of Awkward Hug. "CollegeHumor embodies the light-hearted nature of the game and understands the business of digital entertainment, and so was the ideal partner to help make Bout a reality."

    "Making Bout was as much a comedy writing challenge as it was a technical challenge," says Ricky Van Veen, co-founder of CollegeHumor, "so it turned out to be a perfect fit for us. We've been testing the game around our office for a few weeks and if that's any indication of what's to come, many, many people are going to be completely addicted to Bout very soon."

    Bout is currently available for iOS 6 and can be downloaded free from the App Store. For more information, visit www.boutgame.com and follow Bout on Twitter @BoutGame.

    About CollegeHumor Media
    CollegeHumor Media, an operating business of IAC , is a multi-media, multi platform studio comprised of three website properties--CollegeHumor, Dorkly and SportsPickle--a long-form TV development division and a film production division. A leading entertainment company targeting people ages 18-49, CollegeHumor Media has created original content that has been viewed more than three billion times. Founded in 1999 with the launch of CollegeHumor.com, the brand delivers daily comedic content online through videos, pictures, articles and jokes, both created and curated by the CollegeHumor staff. CollegeHumor Media attracts more than 15 million unique users per month and generates more than 100 million video views per month, and the brand has expanded into apparel and other forms of entertainment including film, television, books and live comedy shows. For more information, visit www.chmedia.com or www.collegehumor.com, and follow CollegeHumor on Twitter @CollegeHumor.

    About Awkward Hug
    Awkward Hug is a non-traditional game development studio that creates fun in the awkward space between the digital and real world. The collaborative partners with people and organizations to bring remarkable games and playful experience to life. Awkward Hug's award-winning games have earned the company a reputation for creating innovative, cross-platform and ridiculously fun games. For more information, visit www.awkwardhug.com, and follow Awkward Hug on Twitter @Awkward_Hug.

    CollegeHumor.com

    CONTACT: Jaime Marsanico, CollegeHumor Media, +1-212-524-8781,
    jaime.marsanico@collegehumor.com

    Web site: http://www.collegehumor.com/




    EXFO to Present at Stifel Nicolaus Annual Technology Conference

    QUEBEC CITY, Jan. 31, 2013 /PRNewswire/ - EXFO Inc. announced today that Pierre Plamondon, Vice-President of Finance and Chief Financial Officer, will make a presentation on behalf of the company at the Stifel Nicolaus Annual Technology Conference on February 7, 2013, 9:45 a.m. Pacific time (12:45 p.m. Eastern time), in San Francisco.

    Mr. Plamondon will outline EXFO's investment proposition, market opportunities and competitive advantages to institutional investors on-site.

    An audio Webcast of the presentation will be available live at www.EXFO.com, under the Investors section. It will also be archived for a limited period.

    IR Calendar

    -- Stifel Nicolaus Annual Technology Conference, February 7, 2013, 9:45 a.m. Pacific time (12:45 p.m. Eastern time), San Francisco (Audio Webcast: www.EXFO.com/investors).

    About EXFO
    Listed on the NASDAQ and TSX stock exchanges, EXFO is among the leading providers of next-generation test and service assurance solutions for wireline and wireless network operators and equipment manufacturers in the global telecommunications industry. The company offers innovative solutions for the development, installation, management and maintenance of converged, IP fixed and mobile networks--from the core to the edge. Key technologies supported include 3G, 4G/LTE, IMS, Ethernet, OTN, FTTx, VDSL2, ADSL2+ and various optical technologies accounting for more than 35% of the portable fiber-optic test market. EXFO has a staff of approximately 1700 people in 25 countries, supporting more than 2000 customers worldwide. For more information, visit www.EXFO.com.

    EXFO INC.

    CONTACT: Vance Oliver
    Manager, Investor Relations
    (418) 683-0913, Ext. 23733
    vance.oliver@exfo.com




    Elsevier and NWO Collaborate to Enhance Research Excellence in the Netherlands

    AMSTERDAM, January 31, 2013 /PRNewswire/ --

    5 year access agreement to Elsevier's Reviewer Finder and Scopus(R)

    Elsevier [http://www.elsevier.com ], a world-leading provider of scientific, technical and medical information solutions and the Netherlands Organization for Scientific Research (NWO), today announce their collaboration with a 5 year access agreement to Elsevier's Reviewer Finder [http://info.scival.com/reviewer-finder ] and Scopus [http://www.info.sciverse.com/scopus ], which will further improve NWO's assessment process of research grant applications.

    As a leading research funding council in the Netherlands, NWO's mission is to actively contribute to the growth of Dutch science by structurally and continuously investing in world-class scientists and research excellence. Using Reviewer Finder, a component of Elsevier's SciVal(R) suite [http://info.scival.com ], NWO will more efficiently identify the best matching peer reviewers to assess its grant applications. Furthermore, Reviewer Finder will help NWO identify conflicts of interest between potential reviewers and applicants, ensuring the applications are reviewed by the most appropriate experts. With Scopus, NWO will have access to the largest abstract and citation database of peer-reviewed scholarly literature (nearly 20,500 journals from more than 5,000 publishers worldwide) providing an extended view on the world's peer-reviewed published research.

    "For certain research fields Reviewer Finder is an effective way to find the most suitable experts for the assessment of grant applications and will help us shorten the assessment time and enhance our capabilities to focus on research excellence," said Mr. Cas Maessen, Senior Policy Officer at NWO. "Through our research programs we fund thousands of top researchers at universities and institutes across the Netherlands, steering the course of Dutch science. Selecting the best research projects is critical in this process and therefore requires having the best tools at hand."

    "We are very pleased that a major research funding organization like NWO has chosen to use our analytical tools," said Nick Fowler, Managing Director A&G Institutional Markets at Elsevier. "We aim to deliver insights and tools that help major funding organizations and research institutions allocate their resources and achieve their desired research outcomes as efficiently as possible."

    About NWO

    The Netherlands Organization for Scientific Research [http://www.nwo.nl ] (NWO) is the national research council in the Netherlands promoting quality and innovation in science by selecting and funding the best research. NWO manages research institutes of national and international importance, contributes to strategic programming of scientific research and brings science and society closer together. Research proposals are reviewed and selected by researchers of international repute. More than 5000 scientists can carry out research thanks to funding from NWO.

    NWO is the largest financer of scientific innovation in the Netherlands and operates as an intermediary between researchers, (international) science centers and society; NWO finances, coordinates and monitors thousands of research projects and numerous collaborations in all sciences, and mediates for the use of state of the art facilities - such as telescopes and super computers; NWO is the national partner with regard to knowledge exchange and scientific collaboration within and outside Europe; NWO promotes (the use of) scientific breakthroughs by NWO subsidized research in the Dutch society and industry.

    NWO sets out to secure the Netherlands' top ranking in science worldwide and to make sure that the current strong position is further strengthened. NWO is also committed to ensure that the results of scientific research quickly gain presence and exposure in society, either as new expertise or practical applications. http://www.nwo.nl

    About Scopus

    Covering the world's research literature, Scopus [http://www.info.scopus.com ] is the largest abstract and citation database of peer-reviewed literature. Featuring smart tools to track, analyze and visualize research, Scopus was designed and developed with input from over 500 users and librarians internationally. Its unique database contains abstracts and references from nearly 20,500 peer-reviewed journals from more than 5,000 publishers worldwide, ensuring broad interdisciplinary coverage. Direct links to subscribed full-text articles, library resources and other applications like reference management software, make Scopus quicker, easier and more comprehensive to use than any other literature research tool.

    About Elsevier's SciVal suite

    Designed to support the many stages of the research planning cycle, Elsevier's SciVal(R) suite [http://www.info.scival.com ] of solutions provides information about research performance, funding and expertise to enable informed decision-making and drive successful outcomes. Serving research institutions, funding agencies and policy bodies, SciVal delivers objective analytical capabilities that can enhance the performance of individuals, teams and organizations. SciVal integrates institutional and external data sources with information from Elsevier's Scopus(R), the standard for bibliometric research tools, to offer trusted solutions including SciVal Experts [http://www.info.scival.com/experts ], SciVal Funding [http://www.info.scival.com/funding ], SciVal Spotlight [http://www.info.scival.com/spotlight ], SciVal Strata [http://www.info.scival.com/strata ], SciVal Analytics [http://info.scival.com/analytics ] and Pure [http://www.atira.dk/en/pure ].

    About Elsevier

    Elsevier is a world-leading provider of scientific, technical and medical information products and services. The company works in partnership with the global science and health communities to publish more than 2,000 journals, including The Lancet [http://www.thelancet.com ] and Cell [http://www.cell.com ], and close to 20,000 book titles, including major reference works from Mosby and Saunders. Elsevier's online solutions include ScienceDirect [http://www.sciencedirect.com ], Scopus [http://www.scopus.com ], Reaxys [http://www.reaxys.com ], ClinicalKey [http://www.clinicalkey.com ] and Mosby's Nursing Suite [http://www.confidenceconnected.com ], which enhance the productivity of science and health professionals, and the SciVal suite [http://www.scival.com ] and MEDai's Pinpoint Review [http://www.medai.com ], which help research and health care institutions deliver better outcomes more cost-effectively.

    A global business headquartered in Amsterdam, Elsevier [http://www.elsevier.com ] employs 7,000 people worldwide. The company is part of Reed Elsevier Group PLC [http://www.reedelsevier.com ], a world-leading provider of professional information solutions in the Science, Medical, Legal and Risk and Business sectors, which is jointly owned by Reed Elsevier PLC and Reed Elsevier NV. The ticker symbols are REN (Euronext Amsterdam), REL (London Stock Exchange), RUK and ENL (New York Stock Exchange).

    Media contact Harald Boersma Director, Corporate Relations Elsevier +31-20-485-27-36 h.boersma@elsevier.com

    Elsevier



    InternetArray Collaborates with Health Sciences Group to Fund Medical Marijuana Social Media/Mobile Apps Development

    NEW YORK, Jan. 31, 2013 /PRNewswire/ -- InternetArray, Inc., (OTCPink: INAR), today announced that it has entered into a joint venture/collaboration arrangement with Health Sciences Group (OTCPink: HESG) to develop Social Media/Mobile Apps for the Medical Marijuana industry. These new specialized apps will enable prescribed patients much needed information to make a better decision on whether or not cannabis is an appropriate treatment option, and access to local resources. Together, both companies have set up a new offshore software development facility in Ho Chi Minh City, Vietnam, providing hardware/software leasing arrangements and deploying high level account executives and project managers to oversee the entire projects operation from start to finish. Concurrently, InternetArray will provide marketing, finance, accounting and administrative support.

    Management believes mobile apps developers from Vietnam and China have been playing a dominant role in designing and developing some of the world's finest mobile applications. With many social media sites coming out on a regular basis, mobile apps programming will lend itself as a must-have and complementary tool to attract its visitors and retain logins and memberships.

    Additionally, InternetArray, Inc., announced in December that it had eliminated nearly $2 million in long-term debt and accrued expenses. The Company is committed to providing shareholders' value and this restructuring is underway because management believes our common stock is extremely undervalued at these levels, and wants to instill shareholders' confidence by collaborating and investing in promising start-ups with exponential growth potential.

    "We are very pleased to launch this joint venture with InternetArray. Our development team is very excited about our new, unique technology for the Social Media Networking market in the medical marijuana space. We plan aggressive marketing campaign upon launch, and to be competitive with other healthcare-related major social media networks. Our association with InternetArray will certainly amplify our launch," comments Nhue "Nick" Le, CEO of Health Sciences Group Inc.

    About InternetArray, Inc. (www.internetarray.com)

    InternetArray, Inc. provides guidance and investment for innovative, early stage Internet companies. The Company's mission is to identify and develop collaborative business partners into viable and profitable companies.

    About Health Sciences Group, Inc. (www.HESciencesgroup.com)

    Health Sciences Group, Inc. is an investment technology portfolio company that acquires nascent health sciences technology and related innovations, inventions and IP assets to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and technology licensing or distribution agreements.

    This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.

    Contact:

    Investor Relations

    InternetArray, Inc.

    contact@internetarray.com

    InternetArray, Inc.

    Web site: http://www.internetarray.com/




    Top Tech Analyst Advised Readers to Sell Apple

    PRINCETON, N.J., Jan. 31, 2013 /PRNewswire/ -- Next Inning Technology Research (http://www.nextinning.com), an online investment newsletter focused on technology stocks, has published an updated outlook on Apple .

    Editor Paul McWilliams spent a decades-long career in the technology industry and has earned a reputation for his skill in communicating complex technology trends to individual investors and professional analysts alike. His reports have won over readers with their ability to unravel the complexities of the industry and, more importantly, identify which companies are likely to be the winners and losers as technology trends change. To this point, no one has been more accurate than McWilliams when it comes to Apple.

    Nearly a decade ago, McWilliams advised Next Inning readers that Apple was positioned to win big when it was trading for less than $10 per share (split adjusted). However, as Apple was hitting record highs in 2012, he advised Next Inning readers to sell. What led McWilliams to predict Apple's decline late in 2012 and what does he now predict for the stock in 2013? In recent reports, McWilliams also offers critical insight into Apple's recent weakness and adds valuable commentary on the roles of key suppliers.

    To get ahead of the Wall Street curve and receive Next Inning's in depth earnings previews for free, as well as McWilliams' State or Tech report, you are invited to take a free, 21-day, no obligation trial with Next Inning. For full details on this offer, please visit the following link:

    https://www.nextinning.com/subscribe/index.php?refer=prn1525

    Topics discussed in the latest reports include:

    -- Why does McWilliams strongly encourage any investors who want to continue owning Apple to listen to the company's most recent post-earnings conference call?

    -- Should Apple investors be concerned that iPhone sales are cannibalizing iPod sales and iPad sales are cannibalizing Mac sales?

    -- Should investors be concerned about Apple's supply chain issues? What can be learned by a close examination of Apple's CapEx expenditures?

    Founded in September 2002, Next Inning's model portfolio has returned 242% since its inception versus 66% for the S&P 500.

    About Next Inning:

    Next Inning is a subscription-based investment newsletter that provides regular coverage on more than 150 technology and semiconductor stocks. Subscribers receive intra-day analysis, commentary and recommendations, as well as access to monthly semiconductor sales analysis, regular Special Reports, and the Next Inning model portfolio. Editor Paul McWilliams is a 30+ year semiconductor industry veteran.

    NOTE: This release was published by Indie Research Advisors, LLC, a registered investment advisor with CRD #131926. Interested parties may visit adviserinfo.sec.gov for additional information. Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

    CONTACT: Marcia Martin, Next Inning Technology Research, +1-888-278-5515

    Indie Research Advisors, LLC

    Web site: http://www.nextinning.com/




    SAP Enters Sports and Entertainment Business for Advanced Ticketing and Customer Relationship Management With Acquisition of Ticket-Web

    WALLDORF, Germany, Jan. 31, 2013 /PRNewswire/ -- SAP AG today announced plans to acquire Ticket-Web GmbH & Co. KG, a provider of ticketing solutions and niche customer relationship management software (CRM) for sports and entertainment promoters. The move paves the way for SAP to offer enhanced solutions to help promoters, venues and teams market events over the Internet and better support arena management.

    (Logo: http://photos.prnewswire.com/prnh/20110126/AQ34470LOGO)

    Flexible, easy-to-use and end-user-oriented dynamic ticketing is critical for all sports clubs, stadiums and entertainment franchises to win and retain customers. When combined with enterprise software solutions, including business intelligence (BI), enterprise resource planning (ERP), CRM and financials, an integrated ticketing solution can help promoters boost attendance, deepen customer engagement and optimize profitability by tailoring offers to individual customers and expanding their business. While Ticket-Web will build the basis for a new integrated sports solution from SAP, it can also be joined to other back-ends, just as SAP can also run with other ticketing systems depending on the customer's decision.

    Based in Wildau, Germany, Ticket-Web is established in Europe with its main product, ENTREE-tickets, an online ticketing service. The company also has niche complementary solutions for customer financial process management and CRM.

    One prospect of such an acquisition could be to create a ticketing solution that could leverage the high-speed SAP HANA(R) database technology as well as real-time business analytics, mobile tools and cloud solutions. By enhancing SAP(R) Business Suite software, the SAP Business ByDesign(R) solution and the SAP(R) Business One application with club and stadium management functionality, SAP could offer robust ERP solutions tailored specifically for a much smarter and faster management of sports and entertainment arenas.

    In today's environment, tens of thousands of transactions such as ticket sales can be executed in hours, or even minutes. These could be from fans anywhere, using mobile devices. SAP envisions a scenario where the high-speed SAP HANA platform, combined with BI reporting tools, could give promoters insights -- in real time -- to better understand which marketing tactics worked and which did not, giving them far more speed and agility to refine offerings to better respond to consumer needs and improve sales.

    "SAP is committed to delivering solutions in the world of sports and entertainment that enhance the fan experience, provide real-time insights to improve performance and help sport and event management organizations run like never before," said Bernd Leukert, executive vice president for Applications, SAP. "The addition of Ticket-Web combined with solutions like SAP HANA and SAP Mobile Platform will help us connect with sports and entertainment fans around the world."

    "We are ecstatic about this new team of Ticket-Web and SAP," said Joerg Oehmichen, chief executive officer and founder of Ticket-Web. "Promoters of events both large and small will soon have the power and reach of SAP innovation at their fingertips. The result will be a much richer fan experience and the ability to get closer to their customers."

    Ticket-Web employees will become part of SAP. The deal is expected to close during the second quarter of 2013.

    For more information, visit the SAP Newsroom.

    About Ticket-Web GmbH & Co. KG
    Ticket-Web GmbH & Co. KG provides solutions for ticketing. The solution allows venues and event promoters of any size to ticket and market a full range of events on the Web.

    About SAP
    As market leader in enterprise application software, SAP helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 232,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

    Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

    (C) 2013 SAP AG. All rights reserved.
    SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.

    Follow SAP on Twitter at @sapnews.

    For customers interested in learning more about SAP products:
    Global Customer Center: +49 180 534-34-24
    United States Only: 1 (800) 872-1SAP (1-800-872-1727)

    For more information, press only:
    Andy Kendzie, +1 (202) 312-3919 andy.kendzie@sap.com, EST
    Alicia Lenze, +49 (6227) 7-40445, alicia.lenze@sap.com, CET
    SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EST; press@sap.com

    Photo: http://photos.prnewswire.com/prnh/20110126/AQ34470LOGO
    PRN Photo Desk, photodesk@prnewswire.com SAP AG

    Web site: http://www.sap.com/

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