News
March 2, 2010
International Game Technology Announces Quarterly Dividend
Poster: SySAdmin
Posted on March 2, 2010 at 11:56:01 PM
International Game Technology Announces Quarterly Dividend
RENO, Nev., March 2 -- International Game Technology (NYSE:IGT) announced that its Board of Directors has declared a quarterly cash dividend of six cents ($0.06) per share, payable on April 9, 2010 to shareholders of record on March 16, 2010.
International Game Technology (http://www.IGT.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.
Source: International Game Technology
CONTACT: Patrick W. Cavanaugh, Executive Vice President, Chief Financial
Officer and Treasurer, of International Game Technology, +1-866-296-4232
Web Site: http://www.igt.com/
RENO, Nev., March 2 -- International Game Technology (NYSE:IGT) announced that its Board of Directors has declared a quarterly cash dividend of six cents ($0.06) per share, payable on April 9, 2010 to shareholders of record on March 16, 2010.
International Game Technology (http://www.IGT.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.
Source: International Game Technology
CONTACT: Patrick W. Cavanaugh, Executive Vice President, Chief Financial
Officer and Treasurer, of International Game Technology, +1-866-296-4232
Web Site: http://www.igt.com/
Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates
Poster: SySAdmin
Posted on March 2, 2010 at 8:14:01 PM
Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates
WALTHAM, Mass., March 2 -- Novell, Inc. (NASDAQ: NOVL) today confirmed that it has received an unsolicited, conditional proposal from Elliott Associates, L.P. to acquire the Company for $5.75 per share in cash. Novell anticipates that its Board of Directors will review Elliott's proposal in consultation with its financial and legal advisors. J.P. Morgan is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Novell.
About Novell
Novell, Inc. (NASDAQ:NOVL) delivers an interoperable Linux* platform and a portfolio of integrated IT management software designed to help customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit http://www.novell.com.
Novell and the Novell logo are registered trademarks and SLES is a trademark of Novell, Inc. in the United States and other countries. *All third party marks are the property of their respective owners.
Source: Novell, Inc.
CONTACT: Ian Bruce, Novell, Inc., +1-781-464-8034, ibruce@novell.com, or
Matthew Sherman / Jeremy Jacobs, all of Joele Frank, Wilkinson Brimmer
Katcher, +1-212-355-4449; or Investor Relations, Rob Kain of Novell, Inc.,
1-800-317-3195, rkain@novell.com, or Thomas Ball / John Ferguson, both of
Morrow & Co. LLC, +1-203-658-9400
Web Site: http://www.novell.com/
WALTHAM, Mass., March 2 -- Novell, Inc. (NASDAQ: NOVL) today confirmed that it has received an unsolicited, conditional proposal from Elliott Associates, L.P. to acquire the Company for $5.75 per share in cash. Novell anticipates that its Board of Directors will review Elliott's proposal in consultation with its financial and legal advisors. J.P. Morgan is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Novell.
About Novell
Novell, Inc. (NASDAQ:NOVL) delivers an interoperable Linux* platform and a portfolio of integrated IT management software designed to help customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit http://www.novell.com.
Novell and the Novell logo are registered trademarks and SLES is a trademark of Novell, Inc. in the United States and other countries. *All third party marks are the property of their respective owners.
Source: Novell, Inc.
CONTACT: Ian Bruce, Novell, Inc., +1-781-464-8034, ibruce@novell.com, or
Matthew Sherman / Jeremy Jacobs, all of Joele Frank, Wilkinson Brimmer
Katcher, +1-212-355-4449; or Investor Relations, Rob Kain of Novell, Inc.,
1-800-317-3195, rkain@novell.com, or Thomas Ball / John Ferguson, both of
Morrow & Co. LLC, +1-203-658-9400
Web Site: http://www.novell.com/
Everything Channel's Channel@Work: Technology Makeover School Edition Partners with L.A. Works to Empower Students at Dayton Heights Elementary School with Technology
Poster: SySAdmin
Posted on March 2, 2010 at 7:14:01 PM
Everything Channel's Channel@Work: Technology Makeover School Edition Partners with L.A. Works to Empower Students at Dayton Heights Elementary School with Technology
Provides Students with State-of-the Art Technology in the Library, Computer
Lab and Teacher's Workroom
WHO:
-- Master of Ceremony: Nancy Hammervik, SVP, Everything Channel Events
-- Debra Brutchey, Senior Director, L.A. Works
-- Marie Leyva, Principal, Dayton Heights Elementary
-- Eric Martorano, Director of Channel Strategy & Satisfaction, Microsoft
-- Melissa Infusino, Director of Partnerships, Los Angeles Unified School
District
WHAT:
An event demonstrating corporate America's commitment to public education through contributions of state-of- the-art technology and services to Dayton Heights Elementary School. There will be brief remarks on the importance of corporate participation in addressing the digital divide in inner city schools.
WHEN:
Monday, March 8 at 9:30 a.m.
WHERE:
Dayton Heights Elementary School
607 North Westmoreland Avenue
Los Angeles, CA 90004-2299
(323) 661-3308
School library
Dayton Heights is a 100 year old elementary school located in Los Angeles. A Title 1 designated school, 91 percent of the students' families have household incomes below the poverty rate. The school administrators work hard to serve the 588 students in grades k-5 with a focus on raising the Academic Performance Index (API) from 757 to above the state target of 800. The Channel@Work: Technology Makeover School Edition , being underwritten by Microsoft, will be a benefit to those students, 21 percent of whom are classified as special education.
WHY:
Everything Channel, a UBM company in partnership with L.A. Works, a nonprofit, volunteer action center, are working together to empower students at Dayton Heights Elementary School by providing much needed technology for its library, computer lab and teacher's workroom.
Everything Channel's Channel@Work initiative is the nonprofit component of all XChange events. Channel@Work brings together members of the technology industry to support local communities in need. The Channel@Work: Technology Makeover School Edition program will bring together 50 members of the technology community and Everything Channel employees for a community service project. Volunteers will install six new computers and a printer in the school's library, one new computer in the teacher's workroom and will refresh the operating systems on 34 mac workstations in the computer lab and will install new keyboards. Additionally, program volunteers will beautify several areas of the school including painting a mural created by Los Angeles-based artist, Jennifer Langstrom.
Everything Channel's XChange Solution Provider event will take place March 8-11, 2010 at the Hyatt Regency Century Plaza in Los Angeles. XChange Solution Provider will bring together more than 200 pre-qualified executive-level technology sellers with approximately 75 industry leading Channel vendors to meet, build relationships and strategize growth.
PHOTO OPPORTUNITY:
-- Ribbon cutting ceremony
-- Students will use the new computers to print out a "Super Tech
Student" certificate with their name after the ceremony.
Contacts
Allison Cohen Natalee Ellars
Everything Channel L.A. Works
516 562 7870 323 599 7598
Allison.Cohen@ec.ubm.comNatalee@laworks.com
/PRNewswire -- March 2/
Source: Everything Channel
Provides Students with State-of-the Art Technology in the Library, Computer
Lab and Teacher's Workroom
WHO:
-- Master of Ceremony: Nancy Hammervik, SVP, Everything Channel Events
-- Debra Brutchey, Senior Director, L.A. Works
-- Marie Leyva, Principal, Dayton Heights Elementary
-- Eric Martorano, Director of Channel Strategy & Satisfaction, Microsoft
-- Melissa Infusino, Director of Partnerships, Los Angeles Unified School
District
WHAT:
An event demonstrating corporate America's commitment to public education through contributions of state-of- the-art technology and services to Dayton Heights Elementary School. There will be brief remarks on the importance of corporate participation in addressing the digital divide in inner city schools.
WHEN:
Monday, March 8 at 9:30 a.m.
WHERE:
Dayton Heights Elementary School
607 North Westmoreland Avenue
Los Angeles, CA 90004-2299
(323) 661-3308
School library
Dayton Heights is a 100 year old elementary school located in Los Angeles. A Title 1 designated school, 91 percent of the students' families have household incomes below the poverty rate. The school administrators work hard to serve the 588 students in grades k-5 with a focus on raising the Academic Performance Index (API) from 757 to above the state target of 800. The Channel@Work: Technology Makeover School Edition , being underwritten by Microsoft, will be a benefit to those students, 21 percent of whom are classified as special education.
WHY:
Everything Channel, a UBM company in partnership with L.A. Works, a nonprofit, volunteer action center, are working together to empower students at Dayton Heights Elementary School by providing much needed technology for its library, computer lab and teacher's workroom.
Everything Channel's Channel@Work initiative is the nonprofit component of all XChange events. Channel@Work brings together members of the technology industry to support local communities in need. The Channel@Work: Technology Makeover School Edition program will bring together 50 members of the technology community and Everything Channel employees for a community service project. Volunteers will install six new computers and a printer in the school's library, one new computer in the teacher's workroom and will refresh the operating systems on 34 mac workstations in the computer lab and will install new keyboards. Additionally, program volunteers will beautify several areas of the school including painting a mural created by Los Angeles-based artist, Jennifer Langstrom.
Everything Channel's XChange Solution Provider event will take place March 8-11, 2010 at the Hyatt Regency Century Plaza in Los Angeles. XChange Solution Provider will bring together more than 200 pre-qualified executive-level technology sellers with approximately 75 industry leading Channel vendors to meet, build relationships and strategize growth.
PHOTO OPPORTUNITY:
-- Ribbon cutting ceremony
-- Students will use the new computers to print out a "Super Tech
Student" certificate with their name after the ceremony.
Contacts
Allison Cohen Natalee Ellars
Everything Channel L.A. Works
516 562 7870 323 599 7598
Allison.Cohen@ec.ubm.comNatalee@laworks.com
/PRNewswire -- March 2/
Source: Everything Channel
MultiVu Digital Center Feed: State Department Continues to Fight for Internet Freedom but Senior Official Says Expanding Restrictions to Access and New Threats Pose Major Challenges to the Free Flow o
Poster: SySAdmin
Posted on March 2, 2010 at 6:14:01 PM
MultiVu Digital Center Feed: State Department Continues to Fight for Internet Freedom but Senior Official Says Expanding Restrictions to Access and New Threats Pose Major Challenges to the Free Flow of Information
DATELINE/CITY: 2 March, 2010 - Washington, DC
FORMAT: Soundbite
STORY SUMMARY: Assistant Secretary of State Michael Posner remarks on "Global Internet Freedom and the Rule of Law" before the Senate Judiciary Subcommittee on Human Rights and the Law.
ADDITIONAL RESOURCES: More available at http://thedigitalcenter.com/projects/1554-state-department-continues-to-fight- for-internet-freedom-but-senior-official-says-expanding-restrictions-to-access -and-new-threats-pose-major-challenges-to-the-free-flow-of-information
http://www.state.gov
CLIP CONTAINING 1 SOUNDBITE (TRT 1:17)
Soundbite #1
Michael Posner, Assistant Secretary of State for Democracy, Human Rights and Labor
Summary: Assistant Secretary Posner says State Department continues to fight for Internet Freedom but the problems persist and expanding restrictions to access and new threats pose major challenges to the effort.
Verbatim: As Secretary Clinton highlighted in her January 21st speech on Internet Freedom, the State Department continues to protest the arrest, detention and harassment of bloggers in Iran, China, Egypt, Vietnam and elsewhere. And countries that seek to filter access to information are only becoming more skilled at doing so. These problems persist, but the threats to Internet Freedom are expanding beyond restricting access to content. As again Secretary Clinton described repressive regimes are co-opting the media, tools to crush dissent and deny human rights. And while the rapid increase in the use of mobile phones creates new platforms for connecting people and providing access to information it also creates new threats to free expression and the free flow of information, so we have a major set of challenges. State Department since 2006 has had an Internet Freedom Task Force which has been re-launched as the Net Freedom Task Force, chaired by two of our under secretaries, and it is going to oversee the State Department's efforts on these issues. (RT 1:12)
VIDEO PROVIDED BY: U.S. Department of State
FOR TECHNICAL INFORMATION OR HARD COPY, PLEASE E-MAIL: digitalcenter@multivu.com
Media Contact: John Appleton, +1-202-647-5321, appletonjt@state.gov, George McNamara, +1-202-647-5361, mcnamara@state.gov
/PRNewswire -- March 2/
Video: http://thedigitalcenter.com/projects/1554-state-department-continues-to-fight-for-internet-freedom-but-senior-official-says-expanding-restrictions-to-access-and-new-threats-pose-major-challenges-to-the-free-flow-of-information
Source: U.S. Department of State
Web Site: http://www.state.gov/
DATELINE/CITY: 2 March, 2010 - Washington, DC
FORMAT: Soundbite
STORY SUMMARY: Assistant Secretary of State Michael Posner remarks on "Global Internet Freedom and the Rule of Law" before the Senate Judiciary Subcommittee on Human Rights and the Law.
ADDITIONAL RESOURCES: More available at http://thedigitalcenter.com/projects/1554-state-department-continues-to-fight- for-internet-freedom-but-senior-official-says-expanding-restrictions-to-access -and-new-threats-pose-major-challenges-to-the-free-flow-of-information
http://www.state.gov
CLIP CONTAINING 1 SOUNDBITE (TRT 1:17)
Soundbite #1
Michael Posner, Assistant Secretary of State for Democracy, Human Rights and Labor
Summary: Assistant Secretary Posner says State Department continues to fight for Internet Freedom but the problems persist and expanding restrictions to access and new threats pose major challenges to the effort.
Verbatim: As Secretary Clinton highlighted in her January 21st speech on Internet Freedom, the State Department continues to protest the arrest, detention and harassment of bloggers in Iran, China, Egypt, Vietnam and elsewhere. And countries that seek to filter access to information are only becoming more skilled at doing so. These problems persist, but the threats to Internet Freedom are expanding beyond restricting access to content. As again Secretary Clinton described repressive regimes are co-opting the media, tools to crush dissent and deny human rights. And while the rapid increase in the use of mobile phones creates new platforms for connecting people and providing access to information it also creates new threats to free expression and the free flow of information, so we have a major set of challenges. State Department since 2006 has had an Internet Freedom Task Force which has been re-launched as the Net Freedom Task Force, chaired by two of our under secretaries, and it is going to oversee the State Department's efforts on these issues. (RT 1:12)
VIDEO PROVIDED BY: U.S. Department of State
FOR TECHNICAL INFORMATION OR HARD COPY, PLEASE E-MAIL: digitalcenter@multivu.com
Media Contact: John Appleton, +1-202-647-5321, appletonjt@state.gov, George McNamara, +1-202-647-5361, mcnamara@state.gov
/PRNewswire -- March 2/
Video: http://thedigitalcenter.com/projects/1554-state-department-continues-to-fight-for-internet-freedom-but-senior-official-says-expanding-restrictions-to-access-and-new-threats-pose-major-challenges-to-the-free-flow-of-information
Source: U.S. Department of State
Web Site: http://www.state.gov/
Floor 84 Studio and Scientifically Proven Entertainment Announce Development of Reality Television Show About the Behind the Scenes of Making Video Games
Poster: SySAdmin
Posted on March 2, 2010 at 6:14:01 PM
Floor 84 Studio and Scientifically Proven Entertainment Announce Development of Reality Television Show About the Behind the Scenes of Making Video Games
LOS ANGELES, March 2 -- Floor 84 Studio working with Scientifically Proven Entertainment announced today the development of a behind the scenes reality show about video games called Making the Game. Making the Game is an episodic series that follows the development and personalities involved with three successful game development studios. Making the Game showcases the independent studios as they go through the start to finish process of conceptualizing, developing, and hopefully delivering a video game on time and on budget. The series follows the studio heads and all of the daily antics of the teams. Personalities clash, conflicts arise, and they have a lot of fun as they race to meet deadlines. The three studios presented in the first season of making the game are Scientifically Proven Entertainment, F84 Games (a division of Floor 84 Studio), and Epicenter Studios.
"The current U.S. gamer population is 170 million, more than half of our nation's population. This massive market share opens a huge opportunity for television programming that speaks to their passions," said Jeff Hardy, CEO of Floor 84 Studio and F84 Games. "In addition to the core content of Making the Game, the business of video game development is a hotbed for celebrity sightings and character antics. Turn on a reality TV program today and you will find exactly that, but no sign of gaming. By the sheer scale of the potential audience alone, Making the Game is sure to be a hit."
How do you make a game? For the first time on television Making the Game is going to deliver an unprecedented behind the scenes look at the process of developing video games. It goes way beyond sitting behind a keyboard. Following multiple studios generating multiple titles will truly give the viewer a look into the ups and downs of this fast paced multi-billion dollar industry. Viewers will witness everything from the initial concept approval to the games hitting the shelves and everything in between. A day in the life of a game developer can consist of a casual morning behind a keyboard to an afternoon at the bomb range researching massive explosions. A normal day at the office rarely exists in this business.
Epicenter Studios and Scientifically Proven CEO Nathaniel 'Than' McClure, "Making video games is a whirlwind experience. We combine creative elements with a voracious consumer base to make the fastest growing most exciting division of entertainment in the world. We are very excited to allow viewers an inside look at how their favorite form of entertainment comes to life."
In addition to the hands on development of video games, Making the Game will also showcase the culture and industry of game development by following the studio teams to all of the major trade shows, fan expos, parties and worldwide events.
Floor 84 Studio and Scientifically Proven are currently negotiating with several networks to determine where the show will air this fall.
About Floor 84 Studio
Floor 84 Studio was founded in 2000 and is headquartered in Los Angeles. Floor 84 Studio is a Multi-Media Entertainment company with projects spanning across Gaming, Television, Film, Music and Web. As well as developing its own IP's, Floor 84 provides creative services to companies such as Activision, Interscope Records, Wells Fargo, Magic Johnson Enterprises and numerous others in the entertainment and corporate sectors.
About F84 Games
F84 Games is a division of Floor 84 Studio. Established in 2008, F84 Games is the game development arm of Floor 84. F84 Games has projects on multiple platforms from the iPhone to the Wii. Currently F84 Games is in development on the video game version of the hit Discovery Channel series Man vs. Wild.
About Scientifically Proven Entertainment
Scientifically Proven Entertainment Headquartered in Michigan is the newest arm of the Epicenter family. SPE is currently concentrating on licensed properties and is in development on the video game version of the hit Discovery Channel series Man vs. Wild. In addition to games SPE also has a feature film and television division with numerous projects in the works.
About Epicenter Studios
Epicenter Studios, headquartered in Southern California, was founded in 2007. Epicenter recently released the critically acclaimed ground breaking non-violent first person shooter Real Heroes: Firefighter on the Nintendo Wii. Epicenter is currently in development on Rock of the Dead and Real Heroes 2 for all platforms. Both Real Heroes: Firefighter and Rock of the Dead are studio created and owned intellectual properties.
Wii IS A TRADEMARK OF NINTENDO CO. Ltd. All other brands and trademarks mentioned in this release are the property of their respective owners.
Source: Floor 84 Studio
CONTACT: Floor 84 Studio, Jeff Hardy, info@floor84studio, studio:
+1-818-754-1231; Scientifically Proven Entertainment, Nathaniel McClure,
info@scientificallyproven.com, studio: +1-248-478-6711
LOS ANGELES, March 2 -- Floor 84 Studio working with Scientifically Proven Entertainment announced today the development of a behind the scenes reality show about video games called Making the Game. Making the Game is an episodic series that follows the development and personalities involved with three successful game development studios. Making the Game showcases the independent studios as they go through the start to finish process of conceptualizing, developing, and hopefully delivering a video game on time and on budget. The series follows the studio heads and all of the daily antics of the teams. Personalities clash, conflicts arise, and they have a lot of fun as they race to meet deadlines. The three studios presented in the first season of making the game are Scientifically Proven Entertainment, F84 Games (a division of Floor 84 Studio), and Epicenter Studios.
"The current U.S. gamer population is 170 million, more than half of our nation's population. This massive market share opens a huge opportunity for television programming that speaks to their passions," said Jeff Hardy, CEO of Floor 84 Studio and F84 Games. "In addition to the core content of Making the Game, the business of video game development is a hotbed for celebrity sightings and character antics. Turn on a reality TV program today and you will find exactly that, but no sign of gaming. By the sheer scale of the potential audience alone, Making the Game is sure to be a hit."
How do you make a game? For the first time on television Making the Game is going to deliver an unprecedented behind the scenes look at the process of developing video games. It goes way beyond sitting behind a keyboard. Following multiple studios generating multiple titles will truly give the viewer a look into the ups and downs of this fast paced multi-billion dollar industry. Viewers will witness everything from the initial concept approval to the games hitting the shelves and everything in between. A day in the life of a game developer can consist of a casual morning behind a keyboard to an afternoon at the bomb range researching massive explosions. A normal day at the office rarely exists in this business.
Epicenter Studios and Scientifically Proven CEO Nathaniel 'Than' McClure, "Making video games is a whirlwind experience. We combine creative elements with a voracious consumer base to make the fastest growing most exciting division of entertainment in the world. We are very excited to allow viewers an inside look at how their favorite form of entertainment comes to life."
In addition to the hands on development of video games, Making the Game will also showcase the culture and industry of game development by following the studio teams to all of the major trade shows, fan expos, parties and worldwide events.
Floor 84 Studio and Scientifically Proven are currently negotiating with several networks to determine where the show will air this fall.
About Floor 84 Studio
Floor 84 Studio was founded in 2000 and is headquartered in Los Angeles. Floor 84 Studio is a Multi-Media Entertainment company with projects spanning across Gaming, Television, Film, Music and Web. As well as developing its own IP's, Floor 84 provides creative services to companies such as Activision, Interscope Records, Wells Fargo, Magic Johnson Enterprises and numerous others in the entertainment and corporate sectors.
About F84 Games
F84 Games is a division of Floor 84 Studio. Established in 2008, F84 Games is the game development arm of Floor 84. F84 Games has projects on multiple platforms from the iPhone to the Wii. Currently F84 Games is in development on the video game version of the hit Discovery Channel series Man vs. Wild.
About Scientifically Proven Entertainment
Scientifically Proven Entertainment Headquartered in Michigan is the newest arm of the Epicenter family. SPE is currently concentrating on licensed properties and is in development on the video game version of the hit Discovery Channel series Man vs. Wild. In addition to games SPE also has a feature film and television division with numerous projects in the works.
About Epicenter Studios
Epicenter Studios, headquartered in Southern California, was founded in 2007. Epicenter recently released the critically acclaimed ground breaking non-violent first person shooter Real Heroes: Firefighter on the Nintendo Wii. Epicenter is currently in development on Rock of the Dead and Real Heroes 2 for all platforms. Both Real Heroes: Firefighter and Rock of the Dead are studio created and owned intellectual properties.
Wii IS A TRADEMARK OF NINTENDO CO. Ltd. All other brands and trademarks mentioned in this release are the property of their respective owners.
Source: Floor 84 Studio
CONTACT: Floor 84 Studio, Jeff Hardy, info@floor84studio, studio:
+1-818-754-1231; Scientifically Proven Entertainment, Nathaniel McClure,
info@scientificallyproven.com, studio: +1-248-478-6711
Deborah Shinbein Joins Clarity Digital Group as VP of Business Development and General Counsel
Poster: SySAdmin
Posted on March 2, 2010 at 6:14:01 PM
Deborah Shinbein Joins Clarity Digital Group as VP of Business Development and General Counsel
Shinbein to oversee new business development and legal for local news and information site
DENVER, March 2 -- Clarity Digital Group LLC, the parent company of Examiner.com, the insider source for everything local, and NowPublic.com, has hired Deborah Shinbein to serve as Vice President of Business Development and General Counsel.
Shinbein has worked for the Disney Interactive Media Group as an attorney and director of business development, focusing on broadband content licensing deals and other strategic alliances for websites including Disney.com, ABCNews.com, ESPN.com, and others. Prior to joining Examiner.com, Shinbein worked as an attorney at Minneapolis-based Faegre & Benson, where she offered legal counsel on intellectual property transactions and Internet legal issues. Shinbein held positions both business development and legal positions with DrDrew.com, Studios USA, and Wilson Sonsini Goodrich & Rosati.
"Deborah has experience in both business development and legal counsel for some of the country's most reputable law firms and online sites," said Rick Blair, CEO of Clarity Digital Group and Examiner.com. "She is uniquely qualified to establish key strategic alliances on behalf of Examiner.com, while overseeing content licensing and other legal matters."
"I have had the opportunity to work as outside legal counsel for Examiner.com since 2008," said Shinbein. "I am thrilled to join the organization as a full-time employee and participate in a company with such an extraordinary vision and exciting opportunities for growth."
Shinbein will oversee all legal matters for Clarity Digital Group (including Examiner.com and NowPublic.com), while heading the business development for Examiner.com, which is in the midst of moving to a new platform powered by Drupal - an outcome of their acquisition of NowPublic.com in the fall of 2009.
To learn more about Examiner.com, or for information on becoming an Examiner, visit Examiner.com.
About Examiner.com: Launched in April 2008, Examiner.com serves 240 markets across North America and is the insider source for everything local. Examiner.com feeds the passion the local community has for its favorite interests, activities, and establishments by connecting them with credible and informed contributors who write and share information with the passion and insights only a local insider can provide. Examiner.com is a division of the Clarity Digital Group, LLC, wholly owned by The Anschutz Company, a Denver-based investment company with a broad array of assets in print and digital media; live sports and entertainment; hospitality; film production and exhibition; wind energy development and transmission; as well as ranching and oil/gas exploration. For more information, visit Examiner.com.
Source: Examiner.com
CONTACT: Elisabeth Monaghan, +1-303-514-8383, emonaghan@examiner.com
Web Site: http://www.examiner.com/
Shinbein to oversee new business development and legal for local news and information site
DENVER, March 2 -- Clarity Digital Group LLC, the parent company of Examiner.com, the insider source for everything local, and NowPublic.com, has hired Deborah Shinbein to serve as Vice President of Business Development and General Counsel.
Shinbein has worked for the Disney Interactive Media Group as an attorney and director of business development, focusing on broadband content licensing deals and other strategic alliances for websites including Disney.com, ABCNews.com, ESPN.com, and others. Prior to joining Examiner.com, Shinbein worked as an attorney at Minneapolis-based Faegre & Benson, where she offered legal counsel on intellectual property transactions and Internet legal issues. Shinbein held positions both business development and legal positions with DrDrew.com, Studios USA, and Wilson Sonsini Goodrich & Rosati.
"Deborah has experience in both business development and legal counsel for some of the country's most reputable law firms and online sites," said Rick Blair, CEO of Clarity Digital Group and Examiner.com. "She is uniquely qualified to establish key strategic alliances on behalf of Examiner.com, while overseeing content licensing and other legal matters."
"I have had the opportunity to work as outside legal counsel for Examiner.com since 2008," said Shinbein. "I am thrilled to join the organization as a full-time employee and participate in a company with such an extraordinary vision and exciting opportunities for growth."
Shinbein will oversee all legal matters for Clarity Digital Group (including Examiner.com and NowPublic.com), while heading the business development for Examiner.com, which is in the midst of moving to a new platform powered by Drupal - an outcome of their acquisition of NowPublic.com in the fall of 2009.
To learn more about Examiner.com, or for information on becoming an Examiner, visit Examiner.com.
About Examiner.com: Launched in April 2008, Examiner.com serves 240 markets across North America and is the insider source for everything local. Examiner.com feeds the passion the local community has for its favorite interests, activities, and establishments by connecting them with credible and informed contributors who write and share information with the passion and insights only a local insider can provide. Examiner.com is a division of the Clarity Digital Group, LLC, wholly owned by The Anschutz Company, a Denver-based investment company with a broad array of assets in print and digital media; live sports and entertainment; hospitality; film production and exhibition; wind energy development and transmission; as well as ranching and oil/gas exploration. For more information, visit Examiner.com.
Source: Examiner.com
CONTACT: Elisabeth Monaghan, +1-303-514-8383, emonaghan@examiner.com
Web Site: http://www.examiner.com/
MLB.com At Bat 2010 Now Available In App Store(TM)
Poster: SySAdmin
Posted on March 2, 2010 at 6:07:01 PM
MLB.com At Bat 2010 Now Available In App Store(TM)
MLB.TV Customers Can Enjoy A Full Season Of Live, Home-And-Visiting Team Broadcasts On iPhone(TM), iPod(R) Touch
NEW YORK, March 2 -- MLB.com At Bat, the top-selling sports app in the App Store(TM) last year, launched today for 2010 and is loaded with robust, cutting-edge new features.
At Bat 2010 provides easy, exclusive and reliable access to live Major League Baseball games for listeners and viewers wherever they are. Every radio feed, including home- and visiting-team broadcasters, is at fans' fingertips, as is the real-time presentation of official pitch-by-pitch data.
Further, At Bat serves up video highlights from action in progress, a free daily MLB.TV video stream and the popular Condensed Games on demand.
Key enhancements for expanded baseball coverage in the award-winning At Bat app for 2010 include:
-- Spring Training: up-to-the moment scoreboard, statistics and pitch
accounts, video highlights of key plays and live audio without
blackout restrictions, plus the unprecedented option of live video
with MLB.TV beginning in mid-March
-- An entire season of MLB.TV, which first appeared in the app last
summer, with home and away streams/announcers, and presented in an
industry-leading format through the carrier network or WI-FI
connectivity
-- Background audio playback for simplified multi-tasking
-- Video highlight library, searchable by team and by player
-- Enhanced live game video for browsing of supplemental content (regular
season)
-- Push notifications
-- Comprehensive section for breaking news and game coverage
-- Interactive rosters and player cards
-- Full-season schedule calendars
-- Multiple favorite team shortcuts
Additional features will debut during the season, including a suite of 'At The Ballpark' advantages in At Bat 2010, from customized, proprietary content to fan-experience tools and more.
MLB.com At Bat 2010 is available from the App Store(TM) on iPhone(TM) and iPod® touch or at http://www.itunes.com/appstore/ for a one-time fee of $14.99. For more information, visit MLB.com
Source: MLB.com
CONTACT: Matthew Gould, +1-212-485-8959, or cell, +1-908-892-3143,
matthew.gould@mlb.com
Web Site: http://www.mlb.com/
MLB.TV Customers Can Enjoy A Full Season Of Live, Home-And-Visiting Team Broadcasts On iPhone(TM), iPod(R) Touch
NEW YORK, March 2 -- MLB.com At Bat, the top-selling sports app in the App Store(TM) last year, launched today for 2010 and is loaded with robust, cutting-edge new features.
At Bat 2010 provides easy, exclusive and reliable access to live Major League Baseball games for listeners and viewers wherever they are. Every radio feed, including home- and visiting-team broadcasters, is at fans' fingertips, as is the real-time presentation of official pitch-by-pitch data.
Further, At Bat serves up video highlights from action in progress, a free daily MLB.TV video stream and the popular Condensed Games on demand.
Key enhancements for expanded baseball coverage in the award-winning At Bat app for 2010 include:
-- Spring Training: up-to-the moment scoreboard, statistics and pitch
accounts, video highlights of key plays and live audio without
blackout restrictions, plus the unprecedented option of live video
with MLB.TV beginning in mid-March
-- An entire season of MLB.TV, which first appeared in the app last
summer, with home and away streams/announcers, and presented in an
industry-leading format through the carrier network or WI-FI
connectivity
-- Background audio playback for simplified multi-tasking
-- Video highlight library, searchable by team and by player
-- Enhanced live game video for browsing of supplemental content (regular
season)
-- Push notifications
-- Comprehensive section for breaking news and game coverage
-- Interactive rosters and player cards
-- Full-season schedule calendars
-- Multiple favorite team shortcuts
Additional features will debut during the season, including a suite of 'At The Ballpark' advantages in At Bat 2010, from customized, proprietary content to fan-experience tools and more.
MLB.com At Bat 2010 is available from the App Store(TM) on iPhone(TM) and iPod® touch or at http://www.itunes.com/appstore/ for a one-time fee of $14.99. For more information, visit MLB.com
Source: MLB.com
CONTACT: Matthew Gould, +1-212-485-8959, or cell, +1-908-892-3143,
matthew.gould@mlb.com
Web Site: http://www.mlb.com/
StratoComm/Evergreen JV Launches Wireless Broadband Network
Poster: SySAdmin
Posted on March 2, 2010 at 6:07:01 PM
StratoComm/Evergreen JV Launches Wireless Broadband Network
ALBANY, N.Y., EATONTOWN, N.J. and DOUALA, Cameroon, March 2
-- StratoComm Corporation (STCO) and Evergreen ISP Platforms jointly announce the launch of wireless telecommunications services to the City of Douala, Cameroon.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO)
"StratoComm's proprietary telecommunications payload is fully operational and Evergreen's network engineers are systematically connecting services to its growing subscriber base," states StratoComm CEO, Roger D. Shearer. Shearer continues, "In addition to subscriber services Evergreen will establish several communications centers throughout Douala that will enable local residents to access reliable broadband and voice services within their neighborhoods. Evergreen will also support creation of computer labs in local schools and universities by donation of low cost PC's that are available through StratoComm's humanitarian programs."
"Following completion of confirming network engineering evaluation Evergreen's initial commercial telecommunications services were turned on March 1, 2010. Charter subscribers include the Roman Catholic Archdiocese of Douala, local hotels and the Port of Douala," states Evergreen's Director General, Mr. William Tallah. Mr. Tallah continued, "Over the coming weeks Evergreen's engineers and technicians will systematically deliver voice and Internet connection to its broader customer base throughout Douala. Expansion of the Evergreen wireless network is easily accomplished as its modular design supports efficient connection and increased capacity in response to its growing subscriber base. The Douala network constitutes the first building block for Evergreen's expansion to other cities in Cameroon in the coming months."
"The StratoComm engineering team has once again demonstrated its knowledge and commitment to excellence. Working directly with Evergreen's technical team in Douala has shown them to also be a most professional and committed group," stated Mr. Robert Phillips, StratoComm's Vice President and COO. "Through application of StratoComm's proprietary technology and its commitment to developing countries we are now witnessing the beginning of bridging the digital divide."
During the coming weeks Mr. Tallah will travel to StratoComm's Eatontown, New Jersey facilities for strategic discussions pertaining to Evergreen's build out of its network operations to additional Cameroonian cities, ongoing subscriber acquisition programs, financing of previously contracted StratoComm Transitional Telecommunications Systems and introduction of StratoComm's health and education humanitarian programs to Cameroon.
StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive communication services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost social and economic outreach programs.
Safe Harbor Disclosure - This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward looking statements.
Photo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO
Source: StratoComm Corporation
CONTACT: Roger D. Shearer, CEO, StratoComm Corporation, +1-518-608-8940
ext. 15, info@stratocomm.net, http://www.stratocomm.net
Web Site: http://www.stratocomm.net/
ALBANY, N.Y., EATONTOWN, N.J. and DOUALA, Cameroon, March 2
-- StratoComm Corporation (STCO) and Evergreen ISP Platforms jointly announce the launch of wireless telecommunications services to the City of Douala, Cameroon.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO)
"StratoComm's proprietary telecommunications payload is fully operational and Evergreen's network engineers are systematically connecting services to its growing subscriber base," states StratoComm CEO, Roger D. Shearer. Shearer continues, "In addition to subscriber services Evergreen will establish several communications centers throughout Douala that will enable local residents to access reliable broadband and voice services within their neighborhoods. Evergreen will also support creation of computer labs in local schools and universities by donation of low cost PC's that are available through StratoComm's humanitarian programs."
"Following completion of confirming network engineering evaluation Evergreen's initial commercial telecommunications services were turned on March 1, 2010. Charter subscribers include the Roman Catholic Archdiocese of Douala, local hotels and the Port of Douala," states Evergreen's Director General, Mr. William Tallah. Mr. Tallah continued, "Over the coming weeks Evergreen's engineers and technicians will systematically deliver voice and Internet connection to its broader customer base throughout Douala. Expansion of the Evergreen wireless network is easily accomplished as its modular design supports efficient connection and increased capacity in response to its growing subscriber base. The Douala network constitutes the first building block for Evergreen's expansion to other cities in Cameroon in the coming months."
"The StratoComm engineering team has once again demonstrated its knowledge and commitment to excellence. Working directly with Evergreen's technical team in Douala has shown them to also be a most professional and committed group," stated Mr. Robert Phillips, StratoComm's Vice President and COO. "Through application of StratoComm's proprietary technology and its commitment to developing countries we are now witnessing the beginning of bridging the digital divide."
During the coming weeks Mr. Tallah will travel to StratoComm's Eatontown, New Jersey facilities for strategic discussions pertaining to Evergreen's build out of its network operations to additional Cameroonian cities, ongoing subscriber acquisition programs, financing of previously contracted StratoComm Transitional Telecommunications Systems and introduction of StratoComm's health and education humanitarian programs to Cameroon.
StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive communication services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost social and economic outreach programs.
Safe Harbor Disclosure - This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward looking statements.
Photo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO
Source: StratoComm Corporation
CONTACT: Roger D. Shearer, CEO, StratoComm Corporation, +1-518-608-8940
ext. 15, info@stratocomm.net, http://www.stratocomm.net
Web Site: http://www.stratocomm.net/
Cinram Reports Fourth Quarter and 2009 Year End Results
Poster: SySAdmin
Posted on March 2, 2010 at 5:28:01 PM
Cinram Reports Fourth Quarter and 2009 Year End Results
(All figures in U.S. dollars unless otherwise indicated)
TORONTO, March 2 -- Cinram International Income Fund ("Cinram" or the "Fund") (TSX: CRW.UN) today reported its 2009 fourth quarter and year end financial results. The Fund recorded revenue of $508.1 million in the fourth quarter, a decrease of 9% from the $556.8 million reported in the fourth quarter of 2008. Despite this reduction in revenue, earnings before interest, taxes and amortization (EBITA(1)) were $88.7 million in 2009, compared to an adjusted $67.4 million in the fourth quarter of 2008 (reported EBITA of $117.9 million less the impact of a favorable royalty adjustment of $50.5 million). EBITA margins increased to 17.5% in 2009, compared to 12.1% on the adjusted EBITA reported in 2008. Adjusted gross profit (excluding the 2008 royalty adjustment) improved by 37% to $111.9 million during the fourth quarter of 2009 from $81.6 million in 2008. Adjusted gross profit margins were 22.0% in the fourth quarter of 2009, up from 14.7% in the prior year. Commented Steve Brown, CEO, "While 2009 saw an erosion in revenue largely in line with our expectations, the strong operating results reflect the efforts of a number of management initiatives within the period. Increased efficiency and reduced costs, derived from a matrix driven management team across our global operations, resulted in significant improvements in our gross margins and EBITA".
During 2009, the Fund generated cash flow from operations of $302.6 million, a substantial increase from $146.2 million in the prior year, primarily resulting from improved working capital management. This cash flow generation contributed to the Fund's ability to reduce debt balances by $251.8 million or 39% during 2009.
The Fund had cash and cash equivalents on hand as at December 31, 2009 of $122.1 million and debt of $395.4 million (excluding unamortized transaction costs and loan fees), resulting in a net debt position of $273.3 million as at December 31, 2009, compared with a net debt position of $573.8 million at the end of 2008. During 2009, the Fund repurchased $169.7 million of debt through a series of "modified Dutch" auctions at a cost of $129.8 million, resulting in a net gain after transaction fees of $38.4 million. Additionally, the Fund made voluntary repayments of $20.0 million combined with net mandatory debt repayments of $62.1 million. "Debt reduction was a primary focus during 2009 and we are pleased that we were able to achieve a reduction in our net debt position by over $300 million." stated John Bell, Chief Financial Officer.
On February 1, 2010, the Fund announced that it had received written notice from Warner Home Video Inc. ("WHV") that WHV was exercising its option to terminate its service agreements on July 31, 2010, five months prior to the scheduled termination date of the contract. The notice covers all Cinram entities globally and will directly impact operations in North America, Mexico, UK, France, Germany and Spain. WHV revenues for 2009 represented approximately 32% of the total consolidated revenues of the Fund.
As a result of this announcement, the Fund recorded a combined long-lived asset and goodwill impairment charge of $82.2 million during the fourth quarter, relating primarily to the tangible, intangible assets and goodwill associated with the Warner Home Video business.
"Warner's decision not to extend their contract with Cinram was obviously regrettable. However, the initiatives undertaken this past year will continue to drive Cinram forward in a market which we forecast to still have a 10 to 15 year future. Physical media is still being embraced by the consumer markets and its migration to digital download and other non physical strategies have all been far slower than many previously forecasted. 2010 will hold its challenges, but will also provide us with opportunities," stated Steve Brown, CEO.
For the year ended December 31, 2009, Cinram reported a 15% decrease in revenue to $1.46 billion from $1.73 billion in 2008 as a result of lower DVD unit sales and selling prices combined with lower revenue from CDs, wireless and the Ditan business. Excluding the effects of foreign exchange, revenue decreased by 14%.
EBITA for the year was $181.4 million compared with an adjusted 2008 EBITA of $193.6 million (2008 reported EBITA of $259.3 million less the $65.7 million reduction in cost of goods sold during 2008 that resulted from a patent settlement and a change in estimate related to invalid patent claims). Excluding the impact of these 2008 adjustments, the EBITA margin as a percent of revenue improved to 12.4% in 2009 from 11.2% in 2008.
On a year-to-date basis, as a result of the $82.2 million impairment charge, the Fund reported a net loss from continuing operations of $17.3 million or $0.32 per unit (basic) in 2009 compared with net earnings of $21.4 million or $0.38 per unit (basic) in 2008.
The 2008 results included an impairment charge of $22.3 million related to goodwill and long-lived assets in addition to an impairment charge of $38.5 million related to the Ivy Hill printing business that was sold in April 2009. Ivy Hill's results for 2009 and 2008 are reflected under discontinued operations.
Segment revenue
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
-------------------------------------------------------------------------
(in thousands
of US$) 2009 2008 2009 2008
-------------------------------------------------------------------------
Home Video $412,296 81% $420,903 76% $1,133,596 78% $1,271,146 74%
CD 47,221 9% 52,458 9% 166,074 11% 221,656 13%
Video Game 33,204 7% 49,272 9% 91,608 6% 126,561 7%
Other 15,418 3% 34,180 6% 72,287 5% 109,174 6%
-------------------------------------------------------------------------
$508,139 100% $556,813 100% $1,463,565 100% $1,728,537 100%
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Fourth quarter Home Video revenue (which includes replication and distribution of DVDs and high-definition discs) was down 2% to $412.3 million from $420.9 million in 2008, primarily due to lower selling prices. Cinram replicated 426.7 million DVDs in the fourth quarter of 2009, compared to 435.0 million units in 2008. High-definition disc replication revenue increased to $7.8 million in the fourth quarter of 2009 from $5.1 million in the comparable 2008 period.
The CD segment revenue (which includes replication and distribution of CDs) was down 10% in the fourth quarter to $47.2 million from $52.5 million in 2008, primarily resulting from a 14% decline in replication volumes.
Revenue from the Video Game segment was down significantly from the prior year, reporting a decrease of 33% to $33.2 million in the fourth quarter of 2009 from $49.3 million in 2008, reflecting a general decline in consumer spending for this market.
Revenue from our Other segment (which primarily includes the Motorola distribution business in North America) decreased to $15.4 million in the fourth quarter of 2009 from $34.2 million in 2008. The prior year figure includes revenue of $12.0 million from Motorola Europe which, as previously reported, terminated its contract with the Fund in early 2009.
Geographic revenue
Fourth quarter North American revenue decreased 12% to $268.2 million from $305.7 million in 2008, principally as a result of lower DVD volumes and prices. North America accounted for 53% of fourth quarter consolidated revenue compared with 55% in 2008.
European revenue was down 4% in the fourth quarter to $239.9 million from $251.1 million in 2008. Fourth quarter European revenue represented 47% of consolidated sales compared with 45% in the fourth quarter of 2008.
Applying 2008 foreign exchange rates to the 2009 fourth quarter, consolidated revenue would have decreased by 15% to $475.4 million in 2009 from $556.8 million in 2008.
Other financial highlights
During the fourth quarter, the Fund recorded amortization expense relating to capital assets (included in the cost of goods sold) of $20.9 million compared to $26.4 million in the fourth quarter of 2008. This reduction in amortization results from the lower net book value of property, plant and equipment due to the impairment charges recorded at the end of 2008 as part of Cinram's annual impairment test.
Unit data
For the three-month period ended December 31, 2009, the basic weighted average number of units and exchangeable limited partnership units outstanding was 54.3 million compared with 55.3 million in the prior year. For the year ended December 31, 2009, the basic weighted average number of units and exchangeable limited partnership units outstanding was 54.8 million compared with 56.4 million in the prior year.
Reconciliation of EBITA and EBIT to net earnings (loss) from continuing
operations
-------------------------------------------------------------------------
Three months ended Year ended
December 31 December 31
(unaudited, in thousands
of U.S. dollars) 2009 2008 2009 2008
-------------------------------------------------------------------------
EBITA excluding other
charges $88,062 $115,732 $183,871 $257,160
-------------------------------------------------------------------------
Other charges (income), net (630) (2,148) 2,483 (2,148)
-------------------------------------------------------------------------
EBITA(1) $88,692 $117,880 $181,388 $259,308
-------------------------------------------------------------------------
Impairment of long lived
assets and goodwill 82,234 22,252 82,234 22,252
Amortization of property,
plant and equipment 20,946 26,440 86,641 101,420
Amortization of intangible
assets 10,515 10,215 41,465 42,127
-------------------------------------------------------------------------
EBIT(2) $(25,003) $58,973 $(28,952) $93,509
-------------------------------------------------------------------------
Interest expense 9,221 11,452 37,584 45,925
Other interest and
financing charges 4,942 2,171 6,127 3,371
Gain on repurchase of debt (14,965) - (38,440) -
Foreign exchange (gain)/loss (1,129) 9,813 (15,179) 12,312
Investment income (95) (218) (622) (1,729)
Income taxes (recovery) (2,086) 19,375 (1,154) 12,213
-------------------------------------------------------------------------
Net earnings (loss) from
continuing operations $(20,891) $16,380 $(17,268) $21,417
-------------------------------------------------------------------------
(1) EBITA is defined herein as earnings from continuing operations before
impairment charges, amortization, interest expense and financing
charges, investment income, gain on repurchase of debt, foreign
exchange gain/loss and income taxes. It is a standard measure that is
commonly reported and widely used in the industry to assist in
understanding and comparing operating results. EBITA is not a defined
term under generally accepted accounting principles (GAAP).
Accordingly, this measure may not be comparable with other issuers
and should not be considered as a substitute or alternative for net
earnings or cash flow, in each case as determined in accordance with
GAAP. See reconciliation of EBITA to net earnings under GAAP as found
in the table above.
(2) EBIT is defined herein as earnings from continuing operations before
interest expense and financing charges, investment income, gain on
repurchase of debt, foreign exchange gain/loss and income taxes. It
is a standard measure that is commonly reported and widely used in
the industry to assist in understanding and comparing operating
results. EBIT is not a defined term under GAAP. Accordingly, this
measure may not be comparable with other issuers and should not be
considered as a substitute or alternative for net earnings or cash
flow, in each case as determined in accordance with GAAP. See
reconciliation of EBIT to net earnings under GAAP as found in the
table above.
About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the world's largest providers of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram also provides distribution and logistics services to the telecommunications industry in North America through its wireless subsidiary. The Fund's units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at http://www.cinram.com.
Certain statements included in this release constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund, or results of the multimedia duplication/ replication industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: the Fund's ability to retain major customers; general economic and business conditions, which will, among other things, impact the demand for the Fund's products and services; multimedia replication industry conditions and capacity; the ability of the Fund to implement its business strategy; the Fund's ability to invest successfully in new technologies and other factors which are described in the Fund's filings with the securities commissions.
CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands of U.S. dollars)
-------------------------------------------------------------------------
As at December 31 2009 2008
-------------------------------------------------------------------------
Assets
Current assets:
Cash and cash equivalents $ 122,072 $ 73,349
Accounts receivable 273,243 495,604
Inventories 31,985 48,987
Income taxes receivable 7,705 18,235
Prepaid expenses 15,915 21,913
Assets held for sale 6,047 -
Future income taxes 6,007 1,827
-------------------------------------------------------------------------
462,974 659,915
Property, plant and equipment 234,684 361,804
Intangible assets 27,537 94,423
Goodwill 40,634 64,737
Other assets 21,571 24,557
-------------------------------------------------------------------------
$ 787,400 $1,205,436
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Liabilities and Unitholders' Equity (DEFICIENCY)
Current liabilities:
Accounts payable $ 90,282 $ 188,352
Accrued liabilities 226,856 263,235
Income taxes payable 20,277 11,581
Current portion of long-term debt 28,624 6,750
Current portion of obligations under capital leases 1,728 3,094
-------------------------------------------------------------------------
367,767 473,012
Long-term debt 363,396 636,299
Obligations under capital leases 2,337 3,926
Other long-term liabilities 43,637 43,625
Derivative instruments 25,225 26,586
Future income taxes 6,638 5,208
Unitholders' equity (deficiency) (21,600) 16,780
-------------------------------------------------------------------------
$ 787,400 $1,205,436
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF LOSS
(unaudited, in thousands of U.S. dollars, except per unit/exchangeable LP
unit amounts)
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2009 2008 2009 2008
-------------------------------------------------------------------------
Revenue $508,139 $556,813 $1,463,565 $1,728,537
Cost of goods sold 396,203 424,714 1,199,086 1,410,194
-------------------------------------------------------------------------
Gross profit 111,936 132,099 264,479 318,343
Selling, general and
administrative expenses 44,820 42,807 167,249 162,603
Amortization of intangible
assets 10,515 10,215 41,465 42,127
Impairment of long-lived
assets and goodwill 82,234 22,252 82,234 22,252
Other charges (income),
net (630) (2,148) 2,483 (2,148)
-------------------------------------------------------------------------
Earnings (loss) before
the undernoted (25,003) 58,973 (28,952) 93,509
Interest on long-term debt 9,221 11,452 37,584 45,925
Other interest and
financing charges 4,942 2,171 6,127 3,371
Gain on repurchase of debt (14,965) - (38,440) -
Foreign exchange loss (gain) (1,129) 9,813 (15,179) 12,312
Investment income (95) (218) (622) (1,729)
-------------------------------------------------------------------------
Earnings (loss) from
continuing operations
before income taxes (22,977) 35,755 (18,442) 33,630
Income taxes (recovery) (2,086) 19,375 (1,154) 12,213
-------------------------------------------------------------------------
Earnings (loss) from
continuing operations (20,891) 16,380 (17,268) 21,417
Earnings (loss) from
discontinued operations 919 (39,464) (16,260) (52,946)
-------------------------------------------------------------------------
Net loss for the period (19,972) (23,084) (33,528) (31,529)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Earnings (loss) per unit
from continuing operations:
Basic (0.38) 0.30 (0.32) 0.38
Diluted (0.38) 0.30 (0.32) 0.38
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Loss per unit:
Basic (0.37) (0.42) (0.61) (0.56)
Diluted (0.37) (0.42) (0.61) (0.56)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Weighted average number
of units and exchangeable
limited partnership units
outstanding (in thousands):
Basic 54,307 55,253 54,785 56,445
Diluted 55,618 55,343 54,785 56,510
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(unaudited, in thousands of U.S. dollars)
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2009 2008 2009 2008
-------------------------------------------------------------------------
Loss for the period $(19,972) $(23,084) $(33,528) $(31,529)
Other comprehensive
income, net of tax:
Unrealized gain (loss)
on translating
financial statements
of self-sustaining
foreign operations (13,986) 28,696 (43,402) 42,041
Unrealized gain (loss)
on hedges of net
investment in
self-sustaining foreign
operations 9,236 (39,147) 35,135 (53,594)
Partial release of
cumulative translation
adjustment - - - 1,203
-------------------------------------------------------------------------
Unrealized foreign
exchange translation
loss, net of hedging
activities (4,750) (10,451) (8,267) (10,350)
Net unrealized gain
(loss) on derivatives
designated as cash flow
hedges 1,546 (3,547) 1,067 (2,501)
Release of other
comprehensive income due
to de-designated hedge 3,840 - 3,840 -
-------------------------------------------------------------------------
Other comprehensive income
(loss) for the period 636 (13,998) (3,360) 12,851
-------------------------------------------------------------------------
Comprehensive loss, net
of tax $(19,336) $(37,082) $(36,888) $(44,380)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, In thousands of U.S. dollars)
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2009 2008 2009 2008
-------------------------------------------------------------------------
Cash provided by (used in):
Operations:
Earnings (loss) from
continuing operations $(20,891) $16,380 $(17,268) $21,417
Items not involving cash:
Amortization of property,
plant and equipment 20,946 26,440 86,641 101,420
Amortization of
intangible assets 10,515 10,215 41,465 42,127
Future income taxes (1,540) 13,844 (2,750) 16,860
Gain on repurchase of
debt (14,965) - (38,440) -
Partial release of
cumulative translation
adjustment - - - 536
Impairment of long-lived
assets and goodwill 82,234 22,252 82,234 22,252
Non-cash interest
expense related to
hedging and derivative
liability 3,549 1,833 3,545 1,590
Non-cash interest expense 600 443 2,466 1,776
Loss (gain) on
disposition of property,
plant and equipment 694 (2,378) (859) (2,687)
Other 532 (50) 827 175
Change in non-cash
operating working capital 58,832 (72,244) 144,723 (59,242)
-------------------------------------------------------------------------
140,506 16,735 302,584 146,224
Financing:
Repayment/repurchase of
long-term debt and bank
indebtedness (109,863) (12,687) (213,320) (44,419)
Transaction costs and
loan fees - - (1,525) -
Increase (decrease) in
obligation under capital
leases (751) 197 (2,956) (1,628)
Financing of employee
unit purchase loan (1,067) - (2,315) -
Repurchase of units - - - (9,085)
Distributions paid - - - (9,247)
-------------------------------------------------------------------------
(111,681) (12,490) (220,116) (64,379)
Investments:
Purchase of property,
plant and equipment (4,326) (14,089) (42,179) (68,141)
Acquisitions, net of cash - - - (5,386)
Acquisition expense - - - 1,003
Payment of acquisition
earn-out amount - - (16,131) (13,449)
Proceeds on disposition
of property, plant and
equipment 77 12,123 29,483 12,487
Decrease in other assets 3,378 7,715 2,987 2,453
Decrease in other
long-term liabilities (1,222) (2,994) (6,433) (1,791)
-------------------------------------------------------------------------
(2,093) 2,755 (32,273) (72,824)
Cash provided by (used in)
discontinued operating
activities 2,819 (763) (17,233) (16,657)
Cash provided by (used in)
discontinued investing
activities (2,779) - 11,211 6,822
Foreign currency translation
gain on cash held in
foreign currencies 1,678 4,947 4,550 5,757
-------------------------------------------------------------------------
Increase in cash and cash
equivalents 28,450 11,184 48,723 4,943
Cash and cash equivalents,
beginning of period 93,622 62,165 73,349 68,406
-------------------------------------------------------------------------
Cash and cash equivalents,
end of period 122,072 73,349 $122,072 $73,349
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Cash and cash equivalents
are comprised of:
Cash $88,846 $42,093 $88,846 $42,093
Cash equivalents 33,226 31,256 33,226 31,256
-------------------------------------------------------------------------
$122,072 $73,349 $122,072 $73,349
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Supplemental cash flow
information:
Interest paid $9,100 $11,382 $38,109 $46,349
Income taxes paid
(recovered) 588 3,278 (17,012) (11,082)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Cash and cash equivalents are defined as cash and short-term deposits,
which have an original maturity of less than 90 days
Source: Cinram International Income Fund
CONTACT: John H. Bell, Tel: (416) 332-2902, johnbell@cinram.com
(All figures in U.S. dollars unless otherwise indicated)
TORONTO, March 2 -- Cinram International Income Fund ("Cinram" or the "Fund") (TSX: CRW.UN) today reported its 2009 fourth quarter and year end financial results. The Fund recorded revenue of $508.1 million in the fourth quarter, a decrease of 9% from the $556.8 million reported in the fourth quarter of 2008. Despite this reduction in revenue, earnings before interest, taxes and amortization (EBITA(1)) were $88.7 million in 2009, compared to an adjusted $67.4 million in the fourth quarter of 2008 (reported EBITA of $117.9 million less the impact of a favorable royalty adjustment of $50.5 million). EBITA margins increased to 17.5% in 2009, compared to 12.1% on the adjusted EBITA reported in 2008. Adjusted gross profit (excluding the 2008 royalty adjustment) improved by 37% to $111.9 million during the fourth quarter of 2009 from $81.6 million in 2008. Adjusted gross profit margins were 22.0% in the fourth quarter of 2009, up from 14.7% in the prior year. Commented Steve Brown, CEO, "While 2009 saw an erosion in revenue largely in line with our expectations, the strong operating results reflect the efforts of a number of management initiatives within the period. Increased efficiency and reduced costs, derived from a matrix driven management team across our global operations, resulted in significant improvements in our gross margins and EBITA".
During 2009, the Fund generated cash flow from operations of $302.6 million, a substantial increase from $146.2 million in the prior year, primarily resulting from improved working capital management. This cash flow generation contributed to the Fund's ability to reduce debt balances by $251.8 million or 39% during 2009.
The Fund had cash and cash equivalents on hand as at December 31, 2009 of $122.1 million and debt of $395.4 million (excluding unamortized transaction costs and loan fees), resulting in a net debt position of $273.3 million as at December 31, 2009, compared with a net debt position of $573.8 million at the end of 2008. During 2009, the Fund repurchased $169.7 million of debt through a series of "modified Dutch" auctions at a cost of $129.8 million, resulting in a net gain after transaction fees of $38.4 million. Additionally, the Fund made voluntary repayments of $20.0 million combined with net mandatory debt repayments of $62.1 million. "Debt reduction was a primary focus during 2009 and we are pleased that we were able to achieve a reduction in our net debt position by over $300 million." stated John Bell, Chief Financial Officer.
On February 1, 2010, the Fund announced that it had received written notice from Warner Home Video Inc. ("WHV") that WHV was exercising its option to terminate its service agreements on July 31, 2010, five months prior to the scheduled termination date of the contract. The notice covers all Cinram entities globally and will directly impact operations in North America, Mexico, UK, France, Germany and Spain. WHV revenues for 2009 represented approximately 32% of the total consolidated revenues of the Fund.
As a result of this announcement, the Fund recorded a combined long-lived asset and goodwill impairment charge of $82.2 million during the fourth quarter, relating primarily to the tangible, intangible assets and goodwill associated with the Warner Home Video business.
"Warner's decision not to extend their contract with Cinram was obviously regrettable. However, the initiatives undertaken this past year will continue to drive Cinram forward in a market which we forecast to still have a 10 to 15 year future. Physical media is still being embraced by the consumer markets and its migration to digital download and other non physical strategies have all been far slower than many previously forecasted. 2010 will hold its challenges, but will also provide us with opportunities," stated Steve Brown, CEO.
For the year ended December 31, 2009, Cinram reported a 15% decrease in revenue to $1.46 billion from $1.73 billion in 2008 as a result of lower DVD unit sales and selling prices combined with lower revenue from CDs, wireless and the Ditan business. Excluding the effects of foreign exchange, revenue decreased by 14%.
EBITA for the year was $181.4 million compared with an adjusted 2008 EBITA of $193.6 million (2008 reported EBITA of $259.3 million less the $65.7 million reduction in cost of goods sold during 2008 that resulted from a patent settlement and a change in estimate related to invalid patent claims). Excluding the impact of these 2008 adjustments, the EBITA margin as a percent of revenue improved to 12.4% in 2009 from 11.2% in 2008.
On a year-to-date basis, as a result of the $82.2 million impairment charge, the Fund reported a net loss from continuing operations of $17.3 million or $0.32 per unit (basic) in 2009 compared with net earnings of $21.4 million or $0.38 per unit (basic) in 2008.
The 2008 results included an impairment charge of $22.3 million related to goodwill and long-lived assets in addition to an impairment charge of $38.5 million related to the Ivy Hill printing business that was sold in April 2009. Ivy Hill's results for 2009 and 2008 are reflected under discontinued operations.
Segment revenue
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
-------------------------------------------------------------------------
(in thousands
of US$) 2009 2008 2009 2008
-------------------------------------------------------------------------
Home Video $412,296 81% $420,903 76% $1,133,596 78% $1,271,146 74%
CD 47,221 9% 52,458 9% 166,074 11% 221,656 13%
Video Game 33,204 7% 49,272 9% 91,608 6% 126,561 7%
Other 15,418 3% 34,180 6% 72,287 5% 109,174 6%
-------------------------------------------------------------------------
$508,139 100% $556,813 100% $1,463,565 100% $1,728,537 100%
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Fourth quarter Home Video revenue (which includes replication and distribution of DVDs and high-definition discs) was down 2% to $412.3 million from $420.9 million in 2008, primarily due to lower selling prices. Cinram replicated 426.7 million DVDs in the fourth quarter of 2009, compared to 435.0 million units in 2008. High-definition disc replication revenue increased to $7.8 million in the fourth quarter of 2009 from $5.1 million in the comparable 2008 period.
The CD segment revenue (which includes replication and distribution of CDs) was down 10% in the fourth quarter to $47.2 million from $52.5 million in 2008, primarily resulting from a 14% decline in replication volumes.
Revenue from the Video Game segment was down significantly from the prior year, reporting a decrease of 33% to $33.2 million in the fourth quarter of 2009 from $49.3 million in 2008, reflecting a general decline in consumer spending for this market.
Revenue from our Other segment (which primarily includes the Motorola distribution business in North America) decreased to $15.4 million in the fourth quarter of 2009 from $34.2 million in 2008. The prior year figure includes revenue of $12.0 million from Motorola Europe which, as previously reported, terminated its contract with the Fund in early 2009.
Geographic revenue
Fourth quarter North American revenue decreased 12% to $268.2 million from $305.7 million in 2008, principally as a result of lower DVD volumes and prices. North America accounted for 53% of fourth quarter consolidated revenue compared with 55% in 2008.
European revenue was down 4% in the fourth quarter to $239.9 million from $251.1 million in 2008. Fourth quarter European revenue represented 47% of consolidated sales compared with 45% in the fourth quarter of 2008.
Applying 2008 foreign exchange rates to the 2009 fourth quarter, consolidated revenue would have decreased by 15% to $475.4 million in 2009 from $556.8 million in 2008.
Other financial highlights
During the fourth quarter, the Fund recorded amortization expense relating to capital assets (included in the cost of goods sold) of $20.9 million compared to $26.4 million in the fourth quarter of 2008. This reduction in amortization results from the lower net book value of property, plant and equipment due to the impairment charges recorded at the end of 2008 as part of Cinram's annual impairment test.
Unit data
For the three-month period ended December 31, 2009, the basic weighted average number of units and exchangeable limited partnership units outstanding was 54.3 million compared with 55.3 million in the prior year. For the year ended December 31, 2009, the basic weighted average number of units and exchangeable limited partnership units outstanding was 54.8 million compared with 56.4 million in the prior year.
Reconciliation of EBITA and EBIT to net earnings (loss) from continuing
operations
-------------------------------------------------------------------------
Three months ended Year ended
December 31 December 31
(unaudited, in thousands
of U.S. dollars) 2009 2008 2009 2008
-------------------------------------------------------------------------
EBITA excluding other
charges $88,062 $115,732 $183,871 $257,160
-------------------------------------------------------------------------
Other charges (income), net (630) (2,148) 2,483 (2,148)
-------------------------------------------------------------------------
EBITA(1) $88,692 $117,880 $181,388 $259,308
-------------------------------------------------------------------------
Impairment of long lived
assets and goodwill 82,234 22,252 82,234 22,252
Amortization of property,
plant and equipment 20,946 26,440 86,641 101,420
Amortization of intangible
assets 10,515 10,215 41,465 42,127
-------------------------------------------------------------------------
EBIT(2) $(25,003) $58,973 $(28,952) $93,509
-------------------------------------------------------------------------
Interest expense 9,221 11,452 37,584 45,925
Other interest and
financing charges 4,942 2,171 6,127 3,371
Gain on repurchase of debt (14,965) - (38,440) -
Foreign exchange (gain)/loss (1,129) 9,813 (15,179) 12,312
Investment income (95) (218) (622) (1,729)
Income taxes (recovery) (2,086) 19,375 (1,154) 12,213
-------------------------------------------------------------------------
Net earnings (loss) from
continuing operations $(20,891) $16,380 $(17,268) $21,417
-------------------------------------------------------------------------
(1) EBITA is defined herein as earnings from continuing operations before
impairment charges, amortization, interest expense and financing
charges, investment income, gain on repurchase of debt, foreign
exchange gain/loss and income taxes. It is a standard measure that is
commonly reported and widely used in the industry to assist in
understanding and comparing operating results. EBITA is not a defined
term under generally accepted accounting principles (GAAP).
Accordingly, this measure may not be comparable with other issuers
and should not be considered as a substitute or alternative for net
earnings or cash flow, in each case as determined in accordance with
GAAP. See reconciliation of EBITA to net earnings under GAAP as found
in the table above.
(2) EBIT is defined herein as earnings from continuing operations before
interest expense and financing charges, investment income, gain on
repurchase of debt, foreign exchange gain/loss and income taxes. It
is a standard measure that is commonly reported and widely used in
the industry to assist in understanding and comparing operating
results. EBIT is not a defined term under GAAP. Accordingly, this
measure may not be comparable with other issuers and should not be
considered as a substitute or alternative for net earnings or cash
flow, in each case as determined in accordance with GAAP. See
reconciliation of EBIT to net earnings under GAAP as found in the
table above.
About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the world's largest providers of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram also provides distribution and logistics services to the telecommunications industry in North America through its wireless subsidiary. The Fund's units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at http://www.cinram.com.
Certain statements included in this release constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund, or results of the multimedia duplication/ replication industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: the Fund's ability to retain major customers; general economic and business conditions, which will, among other things, impact the demand for the Fund's products and services; multimedia replication industry conditions and capacity; the ability of the Fund to implement its business strategy; the Fund's ability to invest successfully in new technologies and other factors which are described in the Fund's filings with the securities commissions.
CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands of U.S. dollars)
-------------------------------------------------------------------------
As at December 31 2009 2008
-------------------------------------------------------------------------
Assets
Current assets:
Cash and cash equivalents $ 122,072 $ 73,349
Accounts receivable 273,243 495,604
Inventories 31,985 48,987
Income taxes receivable 7,705 18,235
Prepaid expenses 15,915 21,913
Assets held for sale 6,047 -
Future income taxes 6,007 1,827
-------------------------------------------------------------------------
462,974 659,915
Property, plant and equipment 234,684 361,804
Intangible assets 27,537 94,423
Goodwill 40,634 64,737
Other assets 21,571 24,557
-------------------------------------------------------------------------
$ 787,400 $1,205,436
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Liabilities and Unitholders' Equity (DEFICIENCY)
Current liabilities:
Accounts payable $ 90,282 $ 188,352
Accrued liabilities 226,856 263,235
Income taxes payable 20,277 11,581
Current portion of long-term debt 28,624 6,750
Current portion of obligations under capital leases 1,728 3,094
-------------------------------------------------------------------------
367,767 473,012
Long-term debt 363,396 636,299
Obligations under capital leases 2,337 3,926
Other long-term liabilities 43,637 43,625
Derivative instruments 25,225 26,586
Future income taxes 6,638 5,208
Unitholders' equity (deficiency) (21,600) 16,780
-------------------------------------------------------------------------
$ 787,400 $1,205,436
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF LOSS
(unaudited, in thousands of U.S. dollars, except per unit/exchangeable LP
unit amounts)
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2009 2008 2009 2008
-------------------------------------------------------------------------
Revenue $508,139 $556,813 $1,463,565 $1,728,537
Cost of goods sold 396,203 424,714 1,199,086 1,410,194
-------------------------------------------------------------------------
Gross profit 111,936 132,099 264,479 318,343
Selling, general and
administrative expenses 44,820 42,807 167,249 162,603
Amortization of intangible
assets 10,515 10,215 41,465 42,127
Impairment of long-lived
assets and goodwill 82,234 22,252 82,234 22,252
Other charges (income),
net (630) (2,148) 2,483 (2,148)
-------------------------------------------------------------------------
Earnings (loss) before
the undernoted (25,003) 58,973 (28,952) 93,509
Interest on long-term debt 9,221 11,452 37,584 45,925
Other interest and
financing charges 4,942 2,171 6,127 3,371
Gain on repurchase of debt (14,965) - (38,440) -
Foreign exchange loss (gain) (1,129) 9,813 (15,179) 12,312
Investment income (95) (218) (622) (1,729)
-------------------------------------------------------------------------
Earnings (loss) from
continuing operations
before income taxes (22,977) 35,755 (18,442) 33,630
Income taxes (recovery) (2,086) 19,375 (1,154) 12,213
-------------------------------------------------------------------------
Earnings (loss) from
continuing operations (20,891) 16,380 (17,268) 21,417
Earnings (loss) from
discontinued operations 919 (39,464) (16,260) (52,946)
-------------------------------------------------------------------------
Net loss for the period (19,972) (23,084) (33,528) (31,529)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Earnings (loss) per unit
from continuing operations:
Basic (0.38) 0.30 (0.32) 0.38
Diluted (0.38) 0.30 (0.32) 0.38
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Loss per unit:
Basic (0.37) (0.42) (0.61) (0.56)
Diluted (0.37) (0.42) (0.61) (0.56)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Weighted average number
of units and exchangeable
limited partnership units
outstanding (in thousands):
Basic 54,307 55,253 54,785 56,445
Diluted 55,618 55,343 54,785 56,510
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(unaudited, in thousands of U.S. dollars)
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2009 2008 2009 2008
-------------------------------------------------------------------------
Loss for the period $(19,972) $(23,084) $(33,528) $(31,529)
Other comprehensive
income, net of tax:
Unrealized gain (loss)
on translating
financial statements
of self-sustaining
foreign operations (13,986) 28,696 (43,402) 42,041
Unrealized gain (loss)
on hedges of net
investment in
self-sustaining foreign
operations 9,236 (39,147) 35,135 (53,594)
Partial release of
cumulative translation
adjustment - - - 1,203
-------------------------------------------------------------------------
Unrealized foreign
exchange translation
loss, net of hedging
activities (4,750) (10,451) (8,267) (10,350)
Net unrealized gain
(loss) on derivatives
designated as cash flow
hedges 1,546 (3,547) 1,067 (2,501)
Release of other
comprehensive income due
to de-designated hedge 3,840 - 3,840 -
-------------------------------------------------------------------------
Other comprehensive income
(loss) for the period 636 (13,998) (3,360) 12,851
-------------------------------------------------------------------------
Comprehensive loss, net
of tax $(19,336) $(37,082) $(36,888) $(44,380)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, In thousands of U.S. dollars)
-------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2009 2008 2009 2008
-------------------------------------------------------------------------
Cash provided by (used in):
Operations:
Earnings (loss) from
continuing operations $(20,891) $16,380 $(17,268) $21,417
Items not involving cash:
Amortization of property,
plant and equipment 20,946 26,440 86,641 101,420
Amortization of
intangible assets 10,515 10,215 41,465 42,127
Future income taxes (1,540) 13,844 (2,750) 16,860
Gain on repurchase of
debt (14,965) - (38,440) -
Partial release of
cumulative translation
adjustment - - - 536
Impairment of long-lived
assets and goodwill 82,234 22,252 82,234 22,252
Non-cash interest
expense related to
hedging and derivative
liability 3,549 1,833 3,545 1,590
Non-cash interest expense 600 443 2,466 1,776
Loss (gain) on
disposition of property,
plant and equipment 694 (2,378) (859) (2,687)
Other 532 (50) 827 175
Change in non-cash
operating working capital 58,832 (72,244) 144,723 (59,242)
-------------------------------------------------------------------------
140,506 16,735 302,584 146,224
Financing:
Repayment/repurchase of
long-term debt and bank
indebtedness (109,863) (12,687) (213,320) (44,419)
Transaction costs and
loan fees - - (1,525) -
Increase (decrease) in
obligation under capital
leases (751) 197 (2,956) (1,628)
Financing of employee
unit purchase loan (1,067) - (2,315) -
Repurchase of units - - - (9,085)
Distributions paid - - - (9,247)
-------------------------------------------------------------------------
(111,681) (12,490) (220,116) (64,379)
Investments:
Purchase of property,
plant and equipment (4,326) (14,089) (42,179) (68,141)
Acquisitions, net of cash - - - (5,386)
Acquisition expense - - - 1,003
Payment of acquisition
earn-out amount - - (16,131) (13,449)
Proceeds on disposition
of property, plant and
equipment 77 12,123 29,483 12,487
Decrease in other assets 3,378 7,715 2,987 2,453
Decrease in other
long-term liabilities (1,222) (2,994) (6,433) (1,791)
-------------------------------------------------------------------------
(2,093) 2,755 (32,273) (72,824)
Cash provided by (used in)
discontinued operating
activities 2,819 (763) (17,233) (16,657)
Cash provided by (used in)
discontinued investing
activities (2,779) - 11,211 6,822
Foreign currency translation
gain on cash held in
foreign currencies 1,678 4,947 4,550 5,757
-------------------------------------------------------------------------
Increase in cash and cash
equivalents 28,450 11,184 48,723 4,943
Cash and cash equivalents,
beginning of period 93,622 62,165 73,349 68,406
-------------------------------------------------------------------------
Cash and cash equivalents,
end of period 122,072 73,349 $122,072 $73,349
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Cash and cash equivalents
are comprised of:
Cash $88,846 $42,093 $88,846 $42,093
Cash equivalents 33,226 31,256 33,226 31,256
-------------------------------------------------------------------------
$122,072 $73,349 $122,072 $73,349
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Supplemental cash flow
information:
Interest paid $9,100 $11,382 $38,109 $46,349
Income taxes paid
(recovered) 588 3,278 (17,012) (11,082)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Cash and cash equivalents are defined as cash and short-term deposits,
which have an original maturity of less than 90 days
Source: Cinram International Income Fund
CONTACT: John H. Bell, Tel: (416) 332-2902, johnbell@cinram.com
Activision Publishing Reveals New Plans for Call of Duty(R) Franchise
Poster: SySAdmin
Posted on March 2, 2010 at 4:56:01 PM
Activision Publishing Reveals New Plans for Call of Duty(R) Franchise
Company to Establish Dedicated Business Unit to Focus on Product Excellence and Brand Expansion Company Confirms New Call of Duty Game To Be Released in 2011 Activision Publishing Plans to Launch Call of Duty in New Genres and Asia
SANTA MONICA, Calif., March 2 -- Activision Publishing, Inc. (NASDAQ:ATVI) today announced new strategic plans for the Call of Duty® franchise, one of the best-selling video game franchises of all time.
The plans include the formation of a dedicated business unit that will bring together its various new brand initiatives with focused, dedicated resources around the world. The company intends to expand the Call of Duty brand with the same focus seen in its Blizzard® Entertainment business unit. This will include a focus on high-margin digital online content and further the brand as the leading action entertainment franchise in new geographies, new genres and with new digital business models.
"2010 will be another important year for the Call of Duty franchise," stated Mike Griffith, President and CEO of Activision Publishing. "In addition to continued catalog sales, new downloadable content from Infinity Ward and a new Call of Duty release, we are excited about the opportunity to bring the franchise to new geographies, genres and players."
The company expects to release a new Call of Duty game from Treyarch this fall. In addition, Infinity Ward is in development on the first two downloadable map packs for Modern Warfare® 2 for release in 2010.
The company is also for the first time announcing that a new game in the Call of Duty series is expected to be released in 2011 and that Sledgehammer Games, a newly formed, wholly owned studio, is in development on a Call of Duty game that will extend the franchise into the action-adventure genre. Sledgehammer is helmed by industry veterans Glen A. Schofield and Michael Condrey. Prior to joining Activision Publishing, Schofield was the Executive Producer of the award-winning game, Dead Space and Michael Condrey was the Sr. Development Director on the game. The Dead Space franchise has won more than 80 industry awards worldwide including the prestigious A.I.A.S. Action Game of the Year and two B.A.F.T.A.S.
The Call of Duty business unit will be led by Philip Earl, who currently runs Activision Publishing's Asia Pacific region and previously served in senior executive positions with Procter & Gamble and Nestle. Activision Publishing veterans Steve Pearce, chief technology officer and Steve Ackrich, head of production, will lead Infinity Ward on an interim basis. Jason West and Vince Zampella are no longer with Infinity Ward.
Lastly, Activision Publishing announced that the company is in discussions with a select number of partners to bring the franchise to Asia, one of the fastest growing regions for online multiplayer games in the world.
Headquartered in Santa Monica, California, Activision Publishing, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products.
Activision Publishing maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, Norway, Denmark, the Netherlands, Australia, Russia, Japan, South Korea, China and the region of Taiwan. More information about Activision Publishing and its products can be found on the company's website, http://www.activision.com.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Publishing's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Publishing generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," future," "plan," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming" and similar expressions to identify forward-looking statements. Factors that could cause Activision Publishing's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Publishing's titles, shifts in consumer spending trends, the impact of the current macroeconomic environment, the seasonal and cyclical nature of the interactive game market, Activision Publishing's ability to predict consumer preferences among competing hardware platforms, declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Publishing's products, competition from the used game market, adoption rate and availability of new hardware (including peripherals) and related software, industry competition and competition from other forms of entertainment, rapid changes in technology, industry standards and consumer preferences, including interest in specific genres such as music, first-person action and massively multiplayer online games, protection of proprietary rights, litigation against Activision Publishing, maintenance of relationships with key personnel, customers, licensees, licensors, vendors and third-party developers, including the ability to attract, retain and develop key personnel and developers which can create high quality "hit" titles, counterparty risks relating to customers, licensees, licensors and manufacturers, domestic and international economic, financial and political conditions and policies, foreign exchange rates and tax rates, and the identification of suitable future acquisition opportunities, and the other factors identified in the risk factors section of Activision Blizzard's most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The forward-looking statements in this release are based upon information available to Activision Publishing and Activision Blizzard as of the date of this release, and neither Activision Publishing nor Activision Blizzard assumes any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Publishing or Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
Source: Activision Publishing, Inc.
CONTACT: Maryanne Lataif, SVP, Corporate Communications,
+1-310-255-2704, mlataif@activision.com, or Kristin Southey, SVP, Investor
Relations and Treasury, +1-310-255-2635, ksouthey@activision.com, both of
Activision Publishing, Inc.
Web Site: http://www.activision.com/
Company News On-Call: http://www.prnewswire.com/comp/007396.html
Company to Establish Dedicated Business Unit to Focus on Product Excellence and Brand Expansion Company Confirms New Call of Duty Game To Be Released in 2011 Activision Publishing Plans to Launch Call of Duty in New Genres and Asia
SANTA MONICA, Calif., March 2 -- Activision Publishing, Inc. (NASDAQ:ATVI) today announced new strategic plans for the Call of Duty® franchise, one of the best-selling video game franchises of all time.
The plans include the formation of a dedicated business unit that will bring together its various new brand initiatives with focused, dedicated resources around the world. The company intends to expand the Call of Duty brand with the same focus seen in its Blizzard® Entertainment business unit. This will include a focus on high-margin digital online content and further the brand as the leading action entertainment franchise in new geographies, new genres and with new digital business models.
"2010 will be another important year for the Call of Duty franchise," stated Mike Griffith, President and CEO of Activision Publishing. "In addition to continued catalog sales, new downloadable content from Infinity Ward and a new Call of Duty release, we are excited about the opportunity to bring the franchise to new geographies, genres and players."
The company expects to release a new Call of Duty game from Treyarch this fall. In addition, Infinity Ward is in development on the first two downloadable map packs for Modern Warfare® 2 for release in 2010.
The company is also for the first time announcing that a new game in the Call of Duty series is expected to be released in 2011 and that Sledgehammer Games, a newly formed, wholly owned studio, is in development on a Call of Duty game that will extend the franchise into the action-adventure genre. Sledgehammer is helmed by industry veterans Glen A. Schofield and Michael Condrey. Prior to joining Activision Publishing, Schofield was the Executive Producer of the award-winning game, Dead Space and Michael Condrey was the Sr. Development Director on the game. The Dead Space franchise has won more than 80 industry awards worldwide including the prestigious A.I.A.S. Action Game of the Year and two B.A.F.T.A.S.
The Call of Duty business unit will be led by Philip Earl, who currently runs Activision Publishing's Asia Pacific region and previously served in senior executive positions with Procter & Gamble and Nestle. Activision Publishing veterans Steve Pearce, chief technology officer and Steve Ackrich, head of production, will lead Infinity Ward on an interim basis. Jason West and Vince Zampella are no longer with Infinity Ward.
Lastly, Activision Publishing announced that the company is in discussions with a select number of partners to bring the franchise to Asia, one of the fastest growing regions for online multiplayer games in the world.
Headquartered in Santa Monica, California, Activision Publishing, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products.
Activision Publishing maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, Norway, Denmark, the Netherlands, Australia, Russia, Japan, South Korea, China and the region of Taiwan. More information about Activision Publishing and its products can be found on the company's website, http://www.activision.com.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Publishing's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Publishing generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," future," "plan," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming" and similar expressions to identify forward-looking statements. Factors that could cause Activision Publishing's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Publishing's titles, shifts in consumer spending trends, the impact of the current macroeconomic environment, the seasonal and cyclical nature of the interactive game market, Activision Publishing's ability to predict consumer preferences among competing hardware platforms, declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Publishing's products, competition from the used game market, adoption rate and availability of new hardware (including peripherals) and related software, industry competition and competition from other forms of entertainment, rapid changes in technology, industry standards and consumer preferences, including interest in specific genres such as music, first-person action and massively multiplayer online games, protection of proprietary rights, litigation against Activision Publishing, maintenance of relationships with key personnel, customers, licensees, licensors, vendors and third-party developers, including the ability to attract, retain and develop key personnel and developers which can create high quality "hit" titles, counterparty risks relating to customers, licensees, licensors and manufacturers, domestic and international economic, financial and political conditions and policies, foreign exchange rates and tax rates, and the identification of suitable future acquisition opportunities, and the other factors identified in the risk factors section of Activision Blizzard's most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The forward-looking statements in this release are based upon information available to Activision Publishing and Activision Blizzard as of the date of this release, and neither Activision Publishing nor Activision Blizzard assumes any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Publishing or Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
Source: Activision Publishing, Inc.
CONTACT: Maryanne Lataif, SVP, Corporate Communications,
+1-310-255-2704, mlataif@activision.com, or Kristin Southey, SVP, Investor
Relations and Treasury, +1-310-255-2635, ksouthey@activision.com, both of
Activision Publishing, Inc.
Web Site: http://www.activision.com/
Company News On-Call: http://www.prnewswire.com/comp/007396.html
Lionsgate Leveraging thisMoment's Real-Time Platform to Launch First Connected, Interactive Brand Channel Across YouTube, Facebook and MySpace for Upcoming Feature Film, 'KICK-ASS'
Poster: SySAdmin
Posted on March 2, 2010 at 4:49:01 PM
Lionsgate Leveraging thisMoment's Real-Time Platform to Launch First Connected, Interactive Brand Channel Across YouTube, Facebook and MySpace for Upcoming Feature Film, 'KICK-ASS'
thisMoment's new Distributed Engagement Channel(TM) enables the 'KICK-ASS' community to connect across multiple social websites
SAN FRANCISCO, March 2 -- thisMoment, a company focused on creating engaging experiences at the point where social media, mobile devices, and the real-time Web collide, today announced that Lionsgate is leveraging its real-time publishing platform to engage fans of its upcoming feature film, KICK-ASS, across multiple social environments. thisMoment's new Distributed Engagement Channel (DEC), is enabling Lionsgate to deploy a single interactive brand channel in its entirety across YouTube, Facebook Platform and MySpace, publish user-generated and official multimedia content, and capture a stream of real-time updates about the film through one, simple content management system.
"thisMoment's platform allows us to tie the social web together and connect with our fans in a very innovative and creative way," said Danielle DePalma, vice president of marketing for Lionsgate. "Partnering with thisMoment gives us the ability to manage our channel content and our entire social media presence through one interface, which helps us create a much more cohesive experience around KICK-ASS."
The KICK-ASS channel on YouTube, Facebook and MySpace will include several interactive features aimed at increasing fan engagement and the reach of KICK-ASS content. Playing on the film's theme, fans will be invited to submit a photo or video of their "Best Kick Ass Moves" which will appear in a multimedia player that seamlessly integrates user-generated photos and videos with official content from the studio. All multimedia content on the channel can then be shared with a user's own social graph, extending the reach of that content even further. In addition, fans will be able to view a stream of real-time updates about the film pulled from Facebook, MySpace, YouTube and Twitter, get movie showtimes, purchase tickets and more. User interactions such as uploads and comments will also be synced in real time across all instances of the channel, allowing KICK-ASS fans to communicate with each other and creating one connected community around the film.
thisMoment's Distributed Engagement Channel (DEC) enables a single interactive brand channel to be distributed in its entirety to multiple social environments, including Facebook, MySpace, YouTube, the brand site and the iPhone. The DEC, which is fully-customizable, features a seamless real-time connection between all environments in which it is deployed and allows brands to leverage one simple CMS to publish and manage content. User generated submissions can be uploaded directly to the channel or pulled from a user's existing social media library, and can moderated by the brand before or after posting. The DEC also features robust programming capabilities and social activity reporting (e.g. uploads, shares, comments, streams, etc.) either by the specific environment or in aggregate.
A customized version of the Distributed Engagement Channel - dubbed the "thisMoment Gadget" - is now available to Google advertisers as an upgrade to YouTube brand channels.
"We're excited to be powering the first truly connected, interactive channel across multiple social environments," said Vince Broady, CEO and co-founder of thisMoment. "Partnering with Lionsgate and working with Google are important validations of the power of our platform, the simplicity of our CMS, and our ability to help companies unlock the full value of their branded content assets by transforming them into world-class interactive experiences."
To view the Lionsgate channel on YouTube, visit: http://www.youtube.com/lionsgatelive; on Facebook, visit: http://apps.facebook.com/kickass-tm/; on MySpace, visit: http://www.myspace.com/kickassmovie.
For more information about how to leverage thisMoment's Distributed Engagement Channel, brands can either contact their Google sales representative or send an email to sales@thisMoment.com. For more information about thisMoment visit: http://www.thismoment.com/.
About thisMoment
thisMoment (http://www.thismoment.com) is a company that creates engaging experiences for brands and consumers at the point where social media, mobile devices, and the real-time Web collide. Its offerings are built on the @thisMoment platform, a real-time, distributed, social content management system. The company's flagship product is the Distributed Engagement Channel(TM) (DEC), which manages branded, user-generated, and Web content across multiple social environments including YouTube, Facebook, MySpace, and the iPhone. thisMoment also offers a Custom Solutions program to provide turnkey interactive media solutions for brands, publishers, and agencies. For consumers, the company offers its critically-acclaimed lifestreaming service at share.thisMoment.com. Founded in April 2008, and headquartered in San Francisco, thisMoment is the latest creation of a team that over the last 15 years has designed and managed some of the Web's biggest consumer properties, including GameSpot, MP3.com, TV.com and, more recently, led the Yahoo! Entertainment portfolio (Yahoo! Movies, Music, Games, OMG!, TV and Video) and its Brand Universe initiative.
About Lionsgate
Lionsgate (NYSE:LGF) is the leading next generation studio with a strong and diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming through Debmar-Mercury and an array of channel platform assets. Lionsgate currently has nearly 20 shows on 10 different networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as "Mad Men," "Weeds" and "Nurse Jackie," along with new series such as "Blue Mountain State" and the syndication successes "Tyler Perry's House Of Payne," its spinoff "Meet The Browns" and "The Wendy Williams Show." Its feature film business has generated more than $400 million at the North American box office in the past year, including the recent critically-acclaimed hit PRECIOUS, which has garnered $45 million at the North American box office and earned six Academy Award® nominations. The Company's home entertainment business has grown to more than 7% market share and is an industry leader in box office-to-DVD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 12,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate brand remains synonymous with original, daring, quality entertainment in markets around the world.
About KICK-ASS
"How come nobody's ever tried to be a superhero?" When Dave Lizewski - ordinary New York teenager and rabid comic-book geek dons a green-and-yellow internet-bought wetsuit to become the no-nonsense vigilante, Kick-Ass, he soon finds an answer to his own question: because it hurts. But, overcoming all the odds, the eager yet inexperienced Dave quickly becomes a phenomenon, capturing the imagination of the public. However, he's not the only superhero out there - the fearless and highly-trained father-daughter crime-fighting duo, Big Daddy and Hit-Girl have been slowly but surely taking down the criminal empire of local Mafioso, Frank D'Amico. And, as Kick-Ass gets drawn into their no-holds-barred world of bullets and bloodletting with Frank's son, Chris, now reborn as Kick-Ass's arch-nemesis, Red Mist - the stage is set for a final showdown between the forces of good and evil - in which the DIY hero will have to live up to his name. Or die trying...
Directed by Matthew Vaughn, from a screenplay by Jane Goldman & Matthew Vaughn, and based on the comic written by Mark Millar and John S. Romita Jr. Lionsgate and MARV present a MARV Films / Plan B production.
For more information please visit http://www.kickass-themovie.com.
Facebook® is a registered trademark of Facebook Inc.
Source: thisMoment
CONTACT: Emily Scherberth of Symphony PR & Marketing, +1-310-442-2892,
emily@symphonypr.com, for thisMoment
Web Site: http://www.thismoment.com/
http://www.kickass-themovie.com/
thisMoment's new Distributed Engagement Channel(TM) enables the 'KICK-ASS' community to connect across multiple social websites
SAN FRANCISCO, March 2 -- thisMoment, a company focused on creating engaging experiences at the point where social media, mobile devices, and the real-time Web collide, today announced that Lionsgate is leveraging its real-time publishing platform to engage fans of its upcoming feature film, KICK-ASS, across multiple social environments. thisMoment's new Distributed Engagement Channel (DEC), is enabling Lionsgate to deploy a single interactive brand channel in its entirety across YouTube, Facebook Platform and MySpace, publish user-generated and official multimedia content, and capture a stream of real-time updates about the film through one, simple content management system.
"thisMoment's platform allows us to tie the social web together and connect with our fans in a very innovative and creative way," said Danielle DePalma, vice president of marketing for Lionsgate. "Partnering with thisMoment gives us the ability to manage our channel content and our entire social media presence through one interface, which helps us create a much more cohesive experience around KICK-ASS."
The KICK-ASS channel on YouTube, Facebook and MySpace will include several interactive features aimed at increasing fan engagement and the reach of KICK-ASS content. Playing on the film's theme, fans will be invited to submit a photo or video of their "Best Kick Ass Moves" which will appear in a multimedia player that seamlessly integrates user-generated photos and videos with official content from the studio. All multimedia content on the channel can then be shared with a user's own social graph, extending the reach of that content even further. In addition, fans will be able to view a stream of real-time updates about the film pulled from Facebook, MySpace, YouTube and Twitter, get movie showtimes, purchase tickets and more. User interactions such as uploads and comments will also be synced in real time across all instances of the channel, allowing KICK-ASS fans to communicate with each other and creating one connected community around the film.
thisMoment's Distributed Engagement Channel (DEC) enables a single interactive brand channel to be distributed in its entirety to multiple social environments, including Facebook, MySpace, YouTube, the brand site and the iPhone. The DEC, which is fully-customizable, features a seamless real-time connection between all environments in which it is deployed and allows brands to leverage one simple CMS to publish and manage content. User generated submissions can be uploaded directly to the channel or pulled from a user's existing social media library, and can moderated by the brand before or after posting. The DEC also features robust programming capabilities and social activity reporting (e.g. uploads, shares, comments, streams, etc.) either by the specific environment or in aggregate.
A customized version of the Distributed Engagement Channel - dubbed the "thisMoment Gadget" - is now available to Google advertisers as an upgrade to YouTube brand channels.
"We're excited to be powering the first truly connected, interactive channel across multiple social environments," said Vince Broady, CEO and co-founder of thisMoment. "Partnering with Lionsgate and working with Google are important validations of the power of our platform, the simplicity of our CMS, and our ability to help companies unlock the full value of their branded content assets by transforming them into world-class interactive experiences."
To view the Lionsgate channel on YouTube, visit: http://www.youtube.com/lionsgatelive; on Facebook, visit: http://apps.facebook.com/kickass-tm/; on MySpace, visit: http://www.myspace.com/kickassmovie.
For more information about how to leverage thisMoment's Distributed Engagement Channel, brands can either contact their Google sales representative or send an email to sales@thisMoment.com. For more information about thisMoment visit: http://www.thismoment.com/.
About thisMoment
thisMoment (http://www.thismoment.com) is a company that creates engaging experiences for brands and consumers at the point where social media, mobile devices, and the real-time Web collide. Its offerings are built on the @thisMoment platform, a real-time, distributed, social content management system. The company's flagship product is the Distributed Engagement Channel(TM) (DEC), which manages branded, user-generated, and Web content across multiple social environments including YouTube, Facebook, MySpace, and the iPhone. thisMoment also offers a Custom Solutions program to provide turnkey interactive media solutions for brands, publishers, and agencies. For consumers, the company offers its critically-acclaimed lifestreaming service at share.thisMoment.com. Founded in April 2008, and headquartered in San Francisco, thisMoment is the latest creation of a team that over the last 15 years has designed and managed some of the Web's biggest consumer properties, including GameSpot, MP3.com, TV.com and, more recently, led the Yahoo! Entertainment portfolio (Yahoo! Movies, Music, Games, OMG!, TV and Video) and its Brand Universe initiative.
About Lionsgate
Lionsgate (NYSE:LGF) is the leading next generation studio with a strong and diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming through Debmar-Mercury and an array of channel platform assets. Lionsgate currently has nearly 20 shows on 10 different networks spanning its prime time production, distribution and syndication businesses, including such critically-acclaimed hits as "Mad Men," "Weeds" and "Nurse Jackie," along with new series such as "Blue Mountain State" and the syndication successes "Tyler Perry's House Of Payne," its spinoff "Meet The Browns" and "The Wendy Williams Show." Its feature film business has generated more than $400 million at the North American box office in the past year, including the recent critically-acclaimed hit PRECIOUS, which has garnered $45 million at the North American box office and earned six Academy Award® nominations. The Company's home entertainment business has grown to more than 7% market share and is an industry leader in box office-to-DVD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 12,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate brand remains synonymous with original, daring, quality entertainment in markets around the world.
About KICK-ASS
"How come nobody's ever tried to be a superhero?" When Dave Lizewski - ordinary New York teenager and rabid comic-book geek dons a green-and-yellow internet-bought wetsuit to become the no-nonsense vigilante, Kick-Ass, he soon finds an answer to his own question: because it hurts. But, overcoming all the odds, the eager yet inexperienced Dave quickly becomes a phenomenon, capturing the imagination of the public. However, he's not the only superhero out there - the fearless and highly-trained father-daughter crime-fighting duo, Big Daddy and Hit-Girl have been slowly but surely taking down the criminal empire of local Mafioso, Frank D'Amico. And, as Kick-Ass gets drawn into their no-holds-barred world of bullets and bloodletting with Frank's son, Chris, now reborn as Kick-Ass's arch-nemesis, Red Mist - the stage is set for a final showdown between the forces of good and evil - in which the DIY hero will have to live up to his name. Or die trying...
Directed by Matthew Vaughn, from a screenplay by Jane Goldman & Matthew Vaughn, and based on the comic written by Mark Millar and John S. Romita Jr. Lionsgate and MARV present a MARV Films / Plan B production.
For more information please visit http://www.kickass-themovie.com.
Facebook® is a registered trademark of Facebook Inc.
Source: thisMoment
CONTACT: Emily Scherberth of Symphony PR & Marketing, +1-310-442-2892,
emily@symphonypr.com, for thisMoment
Web Site: http://www.thismoment.com/
http://www.kickass-themovie.com/
Graybar Announces Organizational Changes to Drive Strategic Growth
Poster: SySAdmin
Posted on March 2, 2010 at 4:49:01 PM
Graybar Announces Organizational Changes to Drive Strategic Growth
ST. LOUIS, March 2 -- Graybar, a leading distributor of electrical and communications products and provider of related supply chain management and logistics services, today announced the appointments of Richard D. Offenbacher to Senior Vice President - U.S. Business and Kathleen M. Mazzarella to Senior Vice President - Sales and Marketing. Both Offenbacher and Mazzarella also serve on Graybar's Board of Directors.
Offenbacher, a Graybar veteran of nearly 42 years, will oversee Graybar's field organization within the United States, along with its Corporate Accounts and Government business. He most recently served as Senior Vice President - Sales and Marketing for Graybar's electrical business. Mazzarella has 30 years of Graybar experience and most recently served as Senior Vice President - Sales and Marketing, Comm/Data. In her newly expanded role, she has responsibility for Graybar's entire sales and marketing organization. These appointments follow the recent retirement of Dennis E. DeSousa as Senior Vice President - U.S. Business.
"The members of Graybar's leadership team have years of industry experience and are committed to the company's success," said Robert A. Reynolds Jr., Chairman, President and Chief Executive Officer of Graybar. "These appointments will help Graybar strategically leverage growth opportunities and strengthen our position with customers and suppliers nationwide."
About Graybar
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and networking products, and specializes in related supply chain management and logistics services. Through its network of more than 240 North American distribution facilities, it stocks and sells products from thousands of manufacturers, serving as the vital link to hundreds of thousands of customers. For more information, visit http://graybar.com/ or call 1-800-GRAYBAR.
Source: Graybar
CONTACT: Tim Sommer of Graybar, +1-314-573-2571,
timothy.sommer@graybar.com
Web Site: http://graybar.com/
ST. LOUIS, March 2 -- Graybar, a leading distributor of electrical and communications products and provider of related supply chain management and logistics services, today announced the appointments of Richard D. Offenbacher to Senior Vice President - U.S. Business and Kathleen M. Mazzarella to Senior Vice President - Sales and Marketing. Both Offenbacher and Mazzarella also serve on Graybar's Board of Directors.
Offenbacher, a Graybar veteran of nearly 42 years, will oversee Graybar's field organization within the United States, along with its Corporate Accounts and Government business. He most recently served as Senior Vice President - Sales and Marketing for Graybar's electrical business. Mazzarella has 30 years of Graybar experience and most recently served as Senior Vice President - Sales and Marketing, Comm/Data. In her newly expanded role, she has responsibility for Graybar's entire sales and marketing organization. These appointments follow the recent retirement of Dennis E. DeSousa as Senior Vice President - U.S. Business.
"The members of Graybar's leadership team have years of industry experience and are committed to the company's success," said Robert A. Reynolds Jr., Chairman, President and Chief Executive Officer of Graybar. "These appointments will help Graybar strategically leverage growth opportunities and strengthen our position with customers and suppliers nationwide."
About Graybar
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and networking products, and specializes in related supply chain management and logistics services. Through its network of more than 240 North American distribution facilities, it stocks and sells products from thousands of manufacturers, serving as the vital link to hundreds of thousands of customers. For more information, visit http://graybar.com/ or call 1-800-GRAYBAR.
Source: Graybar
CONTACT: Tim Sommer of Graybar, +1-314-573-2571,
timothy.sommer@graybar.com
Web Site: http://graybar.com/
Alabama Meets Data Quality Campaign Criteria in Effort to Use Longitudinal Data to Improve Student Success
Poster: SySAdmin
Posted on March 2, 2010 at 4:49:01 PM
Alabama Meets Data Quality Campaign Criteria in Effort to Use Longitudinal Data to Improve Student Success
Coordinated effort by state leaders, with support from STI's Education Data Management Solutions, helps Alabama Department of Education complete major step toward effective data collection and analysis
MOBILE, Ala., March 2 -- Partnering with STI, a leader in K-12 education data management solutions, the Alabama Department of Education has successfully met all the Data Quality Campaign criteria for improving the collection, availability and use of high-quality education data to ensure student success. Alabama is one of only 12 states that have achieved this goal.
The Data Quality Campaign was launched in 2005 by 10 founding organizations, including the National Center for Educational Accountability, to support state development of longitudinal data systems that provide policymakers and educators with information to help adjust policies and practices to increase student achievement. The Data Quality Campaign identified 10 Essential Elements for a comprehensive longitudinal data system, ranging from unique student identifier to student-level test data to graduation and dropout data.
States with all 10 Essential Elements have the capacity to answer key policy questions and obtain information critical for education reform. This questions might include: what middle school achievement levels indicate a student is on track to succeed in rigorous high school courses, and which high school performance indicators (e.g., enrollment in rigorous courses or performance on state tests) are the best predictors of student success in college or the workplace.
"Our participation in the Data Quality Campaign prompted the Department of Education to initiate accountability measures and standardization at the state level to collect accurate, reliable data effectively for stakeholders including policymakers, educators, and the public," said Assistant State Superintendent Mr. Craig Pouncey. "We moved to a single-source provider, STI, to help us achieve these goals while saving administrative time and money. As a result, we've improved education statewide and laid the groundwork for continuous improvement."
With the 10 Essential Elements in place, Alabama is able to link students to multiple data sets - such as discipline, assessment, and teacher training - across many years, for better analysis and data-driven decision-making. It's also easier for the state to meet the reporting requirements of NCLB and federally funded programs, such as those supported under the American Recovery and Reinvestment Act (ARRA) and Race to the Top, to demonstrate progress.
The Alabama Department of Education has selected STI as the foundation of its K-12 longitudinal data system. STI's solutions serve as the vital link for 132 systems, 1,522 schools and 748,889 public school students, tracking students from the time they begin school until they graduate.
About STI
STI is a leading provider of Education Data Management solutions to the K-12 public and private school market. STI's fully integrated suite of Web-based products addresses attendance, scheduling, discipline, grade reporting, state reporting, financial management, student health, parent/teacher communications, special education, formative assessment, and data mining. Additionally, STI offers a comprehensive program of professional development services to help administrators and teachers with school improvement initiatives such as developing data-driven response-to-intervention and formative assessment programs. More than 7,000 schools in 50 states and several countries use STI solutions. The company was founded in 1982 and is headquartered in Mobile, Ala. For more information, phone 800-844-0884 or visit http://www.sti-k12.com.
Source: STI
CONTACT: Jenna Wood of STI, 1-800-844-0884, ext. 1003,
jwood@sti-k12.com; or Kristen Plemon of C. Blohm & Associates,
+1-608-839-9805, kristen@cblohm.com, for STI
Web Site: http://www.sti-k12.com/
Coordinated effort by state leaders, with support from STI's Education Data Management Solutions, helps Alabama Department of Education complete major step toward effective data collection and analysis
MOBILE, Ala., March 2 -- Partnering with STI, a leader in K-12 education data management solutions, the Alabama Department of Education has successfully met all the Data Quality Campaign criteria for improving the collection, availability and use of high-quality education data to ensure student success. Alabama is one of only 12 states that have achieved this goal.
The Data Quality Campaign was launched in 2005 by 10 founding organizations, including the National Center for Educational Accountability, to support state development of longitudinal data systems that provide policymakers and educators with information to help adjust policies and practices to increase student achievement. The Data Quality Campaign identified 10 Essential Elements for a comprehensive longitudinal data system, ranging from unique student identifier to student-level test data to graduation and dropout data.
States with all 10 Essential Elements have the capacity to answer key policy questions and obtain information critical for education reform. This questions might include: what middle school achievement levels indicate a student is on track to succeed in rigorous high school courses, and which high school performance indicators (e.g., enrollment in rigorous courses or performance on state tests) are the best predictors of student success in college or the workplace.
"Our participation in the Data Quality Campaign prompted the Department of Education to initiate accountability measures and standardization at the state level to collect accurate, reliable data effectively for stakeholders including policymakers, educators, and the public," said Assistant State Superintendent Mr. Craig Pouncey. "We moved to a single-source provider, STI, to help us achieve these goals while saving administrative time and money. As a result, we've improved education statewide and laid the groundwork for continuous improvement."
With the 10 Essential Elements in place, Alabama is able to link students to multiple data sets - such as discipline, assessment, and teacher training - across many years, for better analysis and data-driven decision-making. It's also easier for the state to meet the reporting requirements of NCLB and federally funded programs, such as those supported under the American Recovery and Reinvestment Act (ARRA) and Race to the Top, to demonstrate progress.
The Alabama Department of Education has selected STI as the foundation of its K-12 longitudinal data system. STI's solutions serve as the vital link for 132 systems, 1,522 schools and 748,889 public school students, tracking students from the time they begin school until they graduate.
About STI
STI is a leading provider of Education Data Management solutions to the K-12 public and private school market. STI's fully integrated suite of Web-based products addresses attendance, scheduling, discipline, grade reporting, state reporting, financial management, student health, parent/teacher communications, special education, formative assessment, and data mining. Additionally, STI offers a comprehensive program of professional development services to help administrators and teachers with school improvement initiatives such as developing data-driven response-to-intervention and formative assessment programs. More than 7,000 schools in 50 states and several countries use STI solutions. The company was founded in 1982 and is headquartered in Mobile, Ala. For more information, phone 800-844-0884 or visit http://www.sti-k12.com.
Source: STI
CONTACT: Jenna Wood of STI, 1-800-844-0884, ext. 1003,
jwood@sti-k12.com; or Kristen Plemon of C. Blohm & Associates,
+1-608-839-9805, kristen@cblohm.com, for STI
Web Site: http://www.sti-k12.com/
Internap Reports Fourth Quarter and Full-year 2009 Financial Results
Poster: SySAdmin
Posted on March 2, 2010 at 4:49:01 PM
Internap Reports Fourth Quarter and Full-year 2009 Financial Results
ATLANTA, March 2 -- -- Revenue of $256.3 million for 2009, Fourth quarter revenue of $63.5
million;
-- 2009 segment margin(1) of 44.2 percent, Fourth quarter segment margin
of 46.1 percent;
-- 2009 adjusted EBITDA(2) of $28.0 million; Fourth quarter adjusted
EBITDA of $9.0 million;
-- 2009 adjusted EBITDA margin(2) of 10.9 percent; Fourth quarter
adjusted EBITDA margin of 14.2 percent;
-- Announces 32,000 square foot expansion of company-controlled data
center footprint in Silicon Valley and Houston.
Internap Network Services Corporation (NASDAQ:INAP) today reported fourth quarter and full-year 2009 financial results delivering continued improvement in both quarterly segment profit and adjusted EBITDA.
"2009 was clearly a transitional year for Internap with fundamental changes to strategy, people and process. With our third consecutive quarter of adjusted EBITDA growth, we are reassured the steps we are taking will create long-term stockholder value," said Eric Cooney, President and Chief Executive Officer. "We continue the purposeful investment in our data center business with the announcement of two further expansions, totaling 32,000 net sellable square feet, in Santa Clara, California and Houston, Texas. Silicon Valley represents a new market for Internap's data center presence and Houston is an expansion in an already successful growth market. We expect both expansions to be open for customers during the third quarter of 2010."
Revenue for the full-year 2009 increased $2.3 million over 2008 to $256.3 million. Higher Data center services revenue in 2009 offset a decline in IP services revenue over the same period. Fourth quarter 2009 revenue was $63.5 million, a decrease of 1.0 percent compared with the same quarter last year. The year-over-year decrease in quarterly revenue was also attributable to lower IP services revenue which was only partially offset by increased Data center services revenue. While increased occupancy and higher revenue per square foot supported increases in Data center services revenue over the prior year, IP services revenue declined due to lower per unit pricing even with strong year-over-year traffic growth. Sequentially, fourth quarter 2009 revenue decreased by 1.3 percent with lower IP services and decreased Data center services revenue contributing to the decline. The company's initiative to proactively churn customers in certain low-margin, partner data center facilities impacted Data center services revenue compared with the third quarter of 2009. IP services revenue declined sequentially as pricing decreases outweighed quarter-over-quarter network traffic growth.
For the full-year 2009, GAAP net loss was $(69.7) million, or $(1.41) per fully diluted share, compared with a net loss of $(104.8) million, or $(2.13) per diluted share in 2008. The net losses in 2009 and 2008 included goodwill impairments and restructuring charges totaling $54.7 million and $101.4 million, respectively. Fourth quarter 2009 GAAP net loss was $(0.5) million, or $(0.01) per share, compared with a GAAP net loss of $(2.0) million, or $(0.04) per share, in the prior quarter and a GAAP net loss of $(0.9) million, or $(0.02) per share, in the fourth quarter of 2008. In the fourth quarter of 2009, normalized net income(2), which excludes the impact of stock-based compensation expense and items that management considers non-recurring, was $0.8 million, or $0.02 per fully-diluted share. This compares with third quarter 2009 normalized net loss(2) of $(0.9) million, or $(0.02) per fully-diluted share, and fourth quarter 2008 normalized net income of $1.2 million, or $0.02 per fully-diluted share.
Decreased IP services revenue drove a 4.1 percent decrease in Internap's full-year 2009 total segment profit(2) compared with the prior year. Fourth quarter 2009 segment profit totaled $29.3 million, rising 4.9 percent sequentially and 2.4 percent year-over-year. Improved Data center services revenue and lower proportional costs of sales in both reporting segments were the primary contributors to the year-over-year and sequential-quarter increases. Full-year 2009 segment margin was 44.2 percent, a decrease of 230 basis points compared with full-year 2008. Segment margin in the fourth quarter 2009 was 46.1 percent - an increase sequentially and over fourth quarter 2008 margins of 280 basis points and 160 basis points, respectively.
Adjusted EBITDA for the full-year 2009 totaled $28.0 million compared with $34.3 million in 2008. In the fourth quarter 2009, adjusted EBITDA was $9.0 million, a decrease of 4.1 percent compared with the fourth quarter of 2008. Sequentially, adjusted EBITDA increased $1.4 million, or 18.0 percent. Full-year 2009 adjusted EBITDA margin was 10.9 percent, down 260 basis points versus last year. Fourth quarter 2009 adjusted EBITDA margin fell 40 basis points year-over-year to 14.2 percent. Decreased IP services segment profit drove most of the year-over-year declines in adjusted EBITDA margin. Compared with the third quarter 2009, adjusted EBITDA margin improved 230 basis points, the third consecutive quarter of sequential expansion, as increasing segment margin and stable cash operating expense continued to benefit results.
Cash and cash equivalents totaled $73.9 million at December, 31 2009. Total debt including capital lease obligations was $23.2 million at year-end 2009. Cash generated from operations for the twelve months ended December 31, 2009 was $37.5 million. Capital expenditures over the same period were $17.3 million.
Internap maintained 2,935 customers under contract at the end of the fourth quarter of 2009. Historical trends of key financial and operational metrics can be found in a supplementary data schedule on Internap's website at http://ir.internap.com/results.cfm.
As part of a program disclosed in August of 2009 to deploy additional data center capacity in key markets, Internap announced plans to expand company-controlled data center operations in Houston and Silicon Valley. The new facility in Silicon Valley, will add 27,000 net sellable square feet of premium data center capacity in two phases for approximately $23 million. The first phase will total 14,000 feet and is planned to come on line in the third quarter of 2010. In Houston, a market where Internap's company-controlled utilization is approaching capacity, the company estimates that it will spend approximately $5 million for an additional 5,000 net sellable square feet which is also planned to turn-up in the third quarter of this year. Both the Silicon Valley data center and the expansion in Houston are being built with controls designed to achieve objectives included in SAS-70, type II compliance and meet N+1 redundancy standards for UPS, backup generators, and HVAC systems.
------------------------------
1. Segment profit is segment revenue less direct costs of network, sales
and services, exclusive of depreciation and amortization, as presented
in the notes to our consolidated financial statements filed with the
United States Securities and Exchange Commission in Quarterly Reports
on Form 10-Q and Annual Reports on Form 10-K. Segment profit does not
include direct costs of customer support, direct costs of amortization
of acquired technologies or any other depreciation or amortization
associated with direct costs. Segment margin is segment profit as a
percentage of segment revenue.
2. Reconciliations between accounting principles generally accepted in the
United States, or GAAP, information and non-GAAP information contained
in this press release are provided in the tables below entitled
"Reconciliation of Loss from Operations to Adjusted EBITDA," and
"Reconciliation of Net Loss and Basic and Diluted Net Loss Per Share to
Normalized Net Income (Loss) and Basic and Diluted Normalized Net
Income (Loss) Per Share." This information is also available on our
website under the Investor Services section. Adjusted EBITDA margin is
Adjusted EBITDA as a percentage of total revenue.
Conference Call Information:
Internap's fourth quarter and full-year 2009 conference call will be held today at 5:00 p.m., EST. Participants may access the call by dialing 877-548-7901. International callers should dial 719-325-4829. Listeners may connect to the simultaneous webcast, which will include accompanying presentation slides, on the investor relations section of Internap's web site at http://ir.internap.com/events.cfm. An online archive of the webcast presentation will be available for one month following the call. An audio-only replay will be accessible from Tuesday, March 2, 2010 at 8 p.m. EST through Tuesday, March 9, 2010 at 888-203-1112 using the replay code 5245513. International callers can access the archived event at 719-457-0820 with the same code.
About Internap
Internap is a leading Internet solutions and data center company that provides The Ultimate Online Experience(TM) by managing, delivering and distributing applications and content with 100 percent performance and reliability. With a global platform of data centers, managed Internet services and a content delivery network, Internap frees its customers to innovate their business, improve service levels, and lower the cost of IT operations. Thousands of companies across the globe trust Internap to help them achieve their Internet business goals. For more information, visit http://www.internap.com.
Internap "Safe Harbor" Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements related to Internap's ability to create long-term stockholder value and its expectations regarding the expansion of data center capacity, including costs and timing. Because such statements are not guarantees of future performance and involve risks and uncertainties, there are important factors that could cause Internap's actual results to differ materially from those in the forward-looking statements. These factors include Internap's ability to achieve or sustain profitability; its ability to expand margins and drive higher returns on investment; its ability to maintain current customers and obtain new ones, whether in a cost-effective manner or at all; its ability to correctly forecast capital needs, demand planning and space utilization; its ability to respond successfully to technological change and the resulting competition; the availability of services from Internet network service providers or network service providers providing network access loops and local loops on favorable terms, or at all; failure of third party suppliers to deliver their products and services on favorable terms, or at all; failures in its network operations centers, data centers, network access points or computer systems; its ability to provide or improve Internet infrastructure services to its customers; and its ability to protect its intellectual property, as well as other factors discussed in Internap's filings with the Securities and Exchange Commission. Internap undertakes no obligation to revise or update any forward-looking statement for any reason.
Press Contact: Investor Contact:
Mariah Torpey Andrew McBath
(781) 418-2404 (404) 302-9700
internap@daviesmurphy.comir@internap.com
INTERNAP NETWORK SERVICES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Three Months Ended Year Ended
December 31, December 31,
------------------- -----------------
2009 2008 2009 2008
---- ---- ---- ----
Revenues:
Internet protocol (IP)
services $30,373 $33,950 $125,548 $139,737
Data center services 33,176 30,262 130,711 114,252
------ ------ ------- -------
Total revenues 63,549 64,212 256,259 253,989
------ ------ ------- -------
Operating costs and
expenses:
Direct costs of
network, sales and
services, exclusive
of depreciation and
amortization, shown
below:
IP services 11,210 13,045 48,055 51,885
Data center
services 23,065 22,580 94,961 83,992
Direct costs of
customer support 4,919 3,699 18,527 16,217
Direct costs of
amortization of
acquired technologies 979 1,143 8,349 6,649
Sales and marketing 7,430 6,954 28,131 30,888
General and
administrative 9,087 9,656 44,152 44,235
Depreciation and
amortization 7,387 6,639 28,282 23,865
Loss (gain) on
disposals of
property and
equipment 6 - 26 (16)
Impairments and
restructuring 93 1,026 54,698 101,441
--- ----- ------ -------
Total operating
costs and
expenses 64,176 64,742 325,181 359,156
------ ------ ------- -------
Loss from operations (627) (530) (68,922) 105,167)
Non-operating
expense (income) 160 479 461 (245)
--- --- --- ----
Loss before income taxes
and equity in (earnings)
of equity-method
investment (787) (1,009) (69,383) (104,922)
(Benefit) provision
for income taxes (218) (58) 357 174
Equity in (earnings)
of equity-method
investment,
net of taxes (72) (41) (15) (283)
--- --- --- ----
Net loss $(497) $(910) $(69,725) $(104,813)
===== ===== ======== ========
Basic and diluted
net loss per share $(0.01) $(0.02) $(1.41) $(2.13)
====== ====== ====== ======
Weighted average
shares outstanding
used in computing
basic and diluted
net loss per share 49,657 49,338 49,577 49,238
====== ====== ====== ======
INTERNAP NETWORK SERVICES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
December 31, December 31,
----------- -----------
2009 2008
---- ----
ASSETS
Current assets:
Cash and cash equivalents $73,926 $46,870
Short-term investments in
marketable securities and
other related assets 7,000 7,199
Accounts receivable, net of
allowance for doubtful
accounts of $1,953 and
$2,777, respectively 18,685 28,634
Inventory 375 381
Prepaid expenses and other assets 8,768 10,867
----- ------
Total current assets 108,754 93,951
Property and equipment, net of
accumulated depreciation of
$203,027 and $185,895,
respectively 91,151 97,350
Investments and other related
assets,$- and $7,027,
respectively, measured at
fair value 1,804 8,650
Intangible assets, net of
accumulated amortization of
$39,377 and $30,351,
respectively 20,782 33,942
Goodwill 39,464 90,977
Deposits and other assets 2,637 2,763
Deferred tax asset, non-
current, net 2,910 2,450
----- -----
Total assets $267,502 $330,083
======== ========
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities:
Accounts payable $17,237 $19,642
Accrued liabilities 10,192 8,756
Deferred revenues, current
portion 3,817 3,710
Capital lease obligations,
current portion 25 274
Restructuring liability,
current portion 2,819 2,800
Other current liabilities 125 116
--- ---
Total current liabilities 34,215 35,298
Revolving credit facility, due
after one year 20,000 20,000
Deferred revenues, less
current portion 2,492 2,248
Capital lease obligations,
less current portion 3,217 3,244
Restructuring liability, less
current portion 6,123 6,222
Deferred rent 16,417 14,114
Other long-term liabilities 636 762
--- ---
Total liabilities 83,100 81,888
------ ------
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par
value, 20,000 shares
authorized; no shares issued
or outstanding - -
Common stock, $0.001 par
value; 60,000 shares
authorized; 50,763 and 50,224
shares outstanding,
respectively 51 50
Additional paid-in capital 1,221,456 1,216,267
Treasury stock, at cost, 42
and 83 shares, respectively (127) (370)
Accumulated deficit (1,036,548) (966,823)
Accumulated items of other
comprehensive income (430) (929)
---- -----
Total stockholders' equity 184,402 248,195
------- -------
Total liabilities and
stockholders' equity $267,502 $330,083
======== ========
INTERNAP NETWORK SERVICES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended
December 31,
-----------------------
2009 2008
---- ----
Cash Flows From Operating Activities:
Net loss $(69,725) $(104,813)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization 32,496 28,663
Loss (gain) on disposal of property and
equipment, net 26 (16)
Goodwill and other intangible asset
impairments 55,647 102,336
Stock-based compensation 5,613 7,499
Equity in (earnings) from equity-method
investment (15) (283)
Provision for doubtful accounts 2,711 5,083
Non-cash changes in deferred rent 2,303 3,102
Deferred income taxes (459) 644
Other, net 178 (477)
Changes in operating assets and liabilities:
Accounts receivable 7,238 2,424
Inventory, prepaid expenses, deposits and
other assets 2,205 (2,919)
Accounts payable (2,405) 18
Accrued and other liabilities 1,436 (1,404)
Deferred revenue 351 (836)
Accrued restructuring liability (80) (1,070)
--- ------
Net cash flows provided by operating
activities 37,520 37,951
------ ------
Cash Flows From Investing Activities:
Purchases of investments in marketable
securities - (21,422)
Maturities of investments in marketable
securities 7,374 26,591
Purchases of property and equipment (17,278) (51,154)
Proceeds from disposal of property and
equipment 4 175
Change in restricted cash - 4,120
--- -----
Net cash flows used in investing activities (9,900) (41,690)
------ -------
Cash Flows From Financing Activities:
Proceeds from credit facility, due after one
year 78,500 20,000
Principal payments on credit facility, due
after one year (78,500) (20,000)
Payments on capital lease obligations (276) (807)
Stock-based compensation plans (205) 108
Other, net (117) (122)
---- ----
Net cash flows used in financing activities (598) (821)
---- ----
Effect of exchange rates on cash and cash
equivalents 34 (600)
--- ----
Net increase (decrease) in cash and cash
equivalents 27,056 (5,160)
Cash and cash equivalents at beginning
of period 46,870 52,030
------ ------
Cash and cash equivalents at end of period $73,926 $46,870
======= =======
INTERNAP NETWORK SERVICES CORPORATION
NON-GAAP (ADJUSTED) FINANCIAL MEASURES
In addition to providing financial measurements based on accounting principles generally accepted in the United States of America (GAAP), Internap has historically provided additional financial measures that are not prepared in accordance with GAAP (non-GAAP), including adjusted EBITDA, normalized net income (loss), normalized diluted shares outstanding, segment profit and segment margin. The most directly comparable GAAP equivalent to adjusted EBITDA and normalized net income (loss) is loss from operations and net loss, respectively. The most directly comparable GAAP equivalent to normalized diluted shares outstanding is diluted common shares outstanding. Segment profit is defined and disclosed in the notes to our consolidated financial statements filed with the United States Securities and Exchange Commission in Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K.
We define non-GAAP measures as follows:
-- Adjusted EBITDA is loss from operations plus depreciation and
amortization, loss on disposals of property and equipment, impairments
and restructuring and stock-based compensation.
-- Adjusted EBITDA margin is adjusted EBITDA as a percentage of revenues.
-- Normalized net income (loss) is net loss plus impairments and
restructuring and stock-based compensation.
-- Normalized diluted shares outstanding are diluted shares of common
stock outstanding used in GAAP net loss per share calculations,
excluding the dilutive effect of stock-based compensation using the
treasury stock method.
-- Normalized net income (loss) per share is normalized net income (loss)
divided by basic and normalized diluted shares outstanding.
-- Segment profit is segment revenues less direct costs of network, sales
and services, exclusive of depreciation and amortization for the
segment, as presented in the notes to our consolidated financial
statements. Segment profit does not include direct costs of customer
support, direct costs of amortization of acquired technologies or any
other depreciation or amortization associated with direct costs.
-- Segment margin is segment profit as a percentage of segment revenues.
We detail reconciliations of our non-GAAP financial measures to the most directly comparable financial measure in the reconciliations of GAAP to non-GAAP measures below. We believe that presentation of these non-GAAP financial measures provides useful information to investors regarding our results of operations.
We believe that excluding depreciation and amortization and loss on disposals of property and equipment, as well as impairments and restructuring, to calculate adjusted EBITDA provides supplemental information and an alternative presentation that is useful to investors' understanding of Internap's core operating results and trends. Not only are depreciation and amortization expenses based on historical costs of assets that may have little bearing on present or future replacement costs, but also they are based on management estimates of remaining useful lives. Loss on disposals of property and equipment is also based on historical costs of assets that may have little bearing on replacement costs. Impairments and restructuring reflect the charge for ceasing to use part of a smaller leased data center facility and a sales office during the three months ended December 31, 2009 and adjustments in sublease income assumptions for certain properties included in previously-disclosed restructuring plans for the three months ended December 31, 2008. Internap believes that impairment and restructuring charges are unique costs that we do not expect to recur on a regular basis, and consequently, we do not consider these charges as a normal component of expenses related to current and ongoing operations.
INTERNAP NETWORK SERVICES CORPORATION
NON-GAAP (ADJUSTED) FINANCIAL MEASURES (Continued)
Similarly, we believe that excluding the effects of stock-based compensation from non-GAAP financial measures provides supplemental information and an alternative presentation useful to investors' understanding of Internap's core operating results and trends. Investors have indicated that they consider financial measures of our results of operations excluding stock-based compensation as important supplemental information useful to their understanding of our historical results and estimating our future results.
We also believe that, in excluding the effects of stock-based compensation, our non-GAAP financial measures provide investors with transparency into what management uses to measure and forecast our results of operations, to compare on a consistent basis our results of operations for the current period to that of prior periods, to compare our results of operations on a more consistent basis against that of other companies, in making financial and operating decisions and to establish certain management compensation.
Stock-based compensation is an important part of total compensation, especially from the perspective of employees. We believe, however, that supplementing GAAP net loss and net loss per share information by providing normalized net income (loss) and normalized net income (loss) per share, excluding the effect of impairments, restructuring and stock-based compensation in all periods, is useful to investors because it enables additional and more meaningful period-to-period comparisons. We consider normalized diluted shares to be another important indicator of our overall performance because it eliminates the effect of non-cash items.
Adjusted EBITDA is not a measure of liquidity calculated in accordance with GAAP, and should be viewed as a supplement to -- not a substitute for -- our results of operations presented on the basis of GAAP. Adjusted EBITDA does not purport to represent cash flow provided by operating activities as defined by GAAP. Our statement of cash flows presents our cash flow activity in accordance with GAAP. Furthermore, adjusted EBITDA is not necessarily comparable to similarly-titled measures reported by other companies.
We believe adjusted EBITDA is used by and is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to compare business performance across companies and across periods. We believe that:
-- EBITDA is widely used by investors to measure a company's operating
performance without regard to items such as interest expense, income
taxes, depreciation and amortization, which can vary substantially
from company-to-company depending upon accounting methods and book
value of assets, capital structure and the method by which assets were
acquired; and
-- investors commonly adjust EBITDA information to eliminate the effect
of disposals of property and equipment, impairments, restructuring and
stock-based compensation which vary widely from company-to-company and
impair comparability.
Our management uses adjusted EBITDA:
-- as a measure of operating performance to assist in comparing
performance from period-to-period on a consistent basis;
-- as a measure for planning and forecasting overall expectations and for
evaluating actual results against such expectations; and
-- in communications with the board of directors, stockholders, analysts
and investors concerning our financial performance.
INTERNAP NETWORK SERVICES CORPORATION
NON-GAAP (ADJUSTED) FINANCIAL MEASURES (Continued)
Our presentation of segment profit and segment margin excludes direct costs of customer support, depreciation and amortization in order to allow investors to see the business through the eyes of management. Management views direct costs of network, sales and services as generally less controllable, external costs and management regularly monitors the margin of revenues in excess of these direct costs. Similarly, we view the costs of customer support to also be an important component of costs of revenues but believe that the costs of customer support to be more within our control and to some degree discretionary as we can adjust those costs by hiring and terminating employees.
Segment margin is an important metric to our investors and analysts, as we have regularly discussed and disclosed the effects of third party vendors' pricing declines and the corresponding effect on our revenues. The presentation of segment margin highlights the impact of the pricing declines and allows investors and analysts to evaluate our revenue generation performance relative to direct costs of network, sales and services. Conversely, we have much greater latitude in controlling the compensation component of costs of revenues, represented by customer support, and we analyze this component separately from the direct external costs.
We also have excluded depreciation and amortization from segment profit and segment margin because, as noted above, they are based on estimated useful lives of tangible and intangible assets. Further, depreciation and amortization are based on historical costs incurred to build out our deployed network and the historical costs of these assets may not be indicative of current or future capital expenditures.
Although we believe, for the foregoing reasons, that our presentation of non-GAAP financial measures provides useful supplemental information to investors regarding our results of operations, our non-GAAP financial measures should only be considered in addition to, and not as a substitute for, or superior to, any measure of financial performance prepared in accordance with GAAP.
Use of non-GAAP financial measures is subject to inherent limitations because they do not include all the expenses that must be included under GAAP and because they involve the exercise of judgment of which charges should properly be excluded from the non-GAAP financial measure. Management accounts for these limitations by not relying exclusively on non-GAAP financial measures, but only using such information to supplement GAAP financial measures. Our non-GAAP financial measures may not be the same non-GAAP measures, and may not be calculated in the same manner, as those used by other companies.
INTERNAP NETWORK SERVICES CORPORATION
RECONCILIATION OF LOSS FROM OPERATIONS TO ADJUSTED EBITDA
A reconciliation of loss from operations, the most directly comparable GAAP measure, to adjusted EBITDA for each of the periods indicated is as follows (in thousands):
Three Months Ended
----------------------------------------
December 31, September 30, December 31,
2009 2009 2008
----------- ------------ -----------
Loss from operations (GAAP) $(627) $(1,743) $(530)
Depreciation and amortization,
including depreciation and
amortization included in
direct costs of network,
sales and services 8,366 8,292 7,782
Loss on disposals of
property and equipment 6 20 -
Impairments and restructuring 93 - 1,026
Stock-based compensation 1,178 1,071 1,128
----- ----- -----
Adjusted EBITDA (non-GAAP) $9,016 $7,640 $9,406
====== ====== ======
INTERNAP NETWORK SERVICES CORPORATION
RECONCILIATION OF NET LOSS AND BASIC AND DILUTED
NET LOSS PER SHARE TO NORMALIZED NET INCOME (LOSS) AND
BASIC AND DILUTED NORMALIZED NET INCOME (LOSS) PER SHARE
Reconciliations of (1) net loss, the most directly comparable GAAP measure, to normalized net income (loss), (2) diluted shares outstanding used in per share calculations, the most directly comparable GAAP measure, to normalized diluted shares used in normalized per share outstanding calculations and (3) net loss per share, the most directly comparable GAAP measure, to normalized net income (loss) per share for each of the periods indicated is as follows (in thousands, except per share data):
Three Months Ended
------------------------------------------
December 31, September 30, December 31,
2009 2009 2008
---- ---- ----
Net loss (GAAP) $(497) $(1,975) $(910)
Impairments and restructuring 93 - 1,026
Stock-based compensation 1,178 1,071 1,128
----- ----- -----
Normalized net income
(loss) (non-GAAP) $774 $(904) $1,244
Normalized income allocable to
participating securities
(non-GAAP) (16) - (22)
--- --- ---
Normalized net income
(loss) available to
common stockholders
(non-GAAP) $758 $(904) $1,222
==== ===== ======
Weighted average shares
outstanding used in per
share calculation:
Basic (GAAP) 49,657 49,638 49,338
Participating securities
(GAAP) 1,081 1,126 871
Diluted (GAAP) 49,657 49,638 49,338
Add potentially dilutive
securities 54 - 4
Less dilutive effect of
stock-based compensation
using the treasury stock
method (54) - -
--- --- ---
Normalized diluted
shares outstanding
(non-GAAP) 49,657 49,638 49,342
====== ====== ======
GAAP net loss per share:
Basic $(0.01) $(0.04) $(0.02)
====== ====== ======
Diluted $(0.01) $(0.04) $(0.02)
====== ====== ======
Normalized net income
(loss) per share (non-GAAP):
Basic $0.02 $(0.02) $0.02
===== ====== =====
Diluted $0.02 $(0.02) $0.02
===== ====== =====
INTERNAP NETWORK SERVICES CORPORATION
SEGMENT PROFIT AND SEGMENT MARGIN
Segment profit and segment margin, which does not include direct costs of customer support, direct costs of amortization of acquired technologies or any other depreciation or amortization, for each of the periods indicated is as follows (dollars in thousands):
Three Months Ended
---------------------------------------
December 31, September 30, December 31,
2009 2009 2008
---- ---- ----
Revenues:
IP services $30,373 $30,867 $33,950
Data center services 33,176 33,547 30,262
------ ------ ------
Total 63,549 64,414 64,212
------ ------ ------
Direct costs of network,
sales and services,
exclusive of depreciation
and amortization:
IP services 11,210 12,047 13,045
Data center services 23,065 24,450 22,580
------ ------ ------
Total 34,275 36,497 35,625
------ ------ ------
Segment profit:
IP services 19,163 18,820 20,905
Data center services 10,111 9,097 7,682
------ ----- -----
Total $29,274 $27,917 $28,587
======= ======= =======
Segment margin:
IP services 63.1% 61.0% 61.6%
Data center services 30.5% 27.1% 25.4%
---- ---- ----
Total 46.1% 43.3% 44.5%
==== ==== ====
(Logo: http://www.newscom.com/cgi-bin/prnh/20100205/CL49469 )
Photo: http://www.newscom.com/cgi-bin/prnh/20100205/CL49469
Source: Internap Network Services Corporation
CONTACT: Press: Mariah Torpey, +1-781-418-2404,
internap@daviesmurphy.com; or Investor Contact: Andrew McBath,
+1-404-302-9700, ir@internap.com
Web Site: http://www.internap.com/
ATLANTA, March 2 -- -- Revenue of $256.3 million for 2009, Fourth quarter revenue of $63.5
million;
-- 2009 segment margin(1) of 44.2 percent, Fourth quarter segment margin
of 46.1 percent;
-- 2009 adjusted EBITDA(2) of $28.0 million; Fourth quarter adjusted
EBITDA of $9.0 million;
-- 2009 adjusted EBITDA margin(2) of 10.9 percent; Fourth quarter
adjusted EBITDA margin of 14.2 percent;
-- Announces 32,000 square foot expansion of company-controlled data
center footprint in Silicon Valley and Houston.
Internap Network Services Corporation (NASDAQ:INAP) today reported fourth quarter and full-year 2009 financial results delivering continued improvement in both quarterly segment profit and adjusted EBITDA.
"2009 was clearly a transitional year for Internap with fundamental changes to strategy, people and process. With our third consecutive quarter of adjusted EBITDA growth, we are reassured the steps we are taking will create long-term stockholder value," said Eric Cooney, President and Chief Executive Officer. "We continue the purposeful investment in our data center business with the announcement of two further expansions, totaling 32,000 net sellable square feet, in Santa Clara, California and Houston, Texas. Silicon Valley represents a new market for Internap's data center presence and Houston is an expansion in an already successful growth market. We expect both expansions to be open for customers during the third quarter of 2010."
Revenue for the full-year 2009 increased $2.3 million over 2008 to $256.3 million. Higher Data center services revenue in 2009 offset a decline in IP services revenue over the same period. Fourth quarter 2009 revenue was $63.5 million, a decrease of 1.0 percent compared with the same quarter last year. The year-over-year decrease in quarterly revenue was also attributable to lower IP services revenue which was only partially offset by increased Data center services revenue. While increased occupancy and higher revenue per square foot supported increases in Data center services revenue over the prior year, IP services revenue declined due to lower per unit pricing even with strong year-over-year traffic growth. Sequentially, fourth quarter 2009 revenue decreased by 1.3 percent with lower IP services and decreased Data center services revenue contributing to the decline. The company's initiative to proactively churn customers in certain low-margin, partner data center facilities impacted Data center services revenue compared with the third quarter of 2009. IP services revenue declined sequentially as pricing decreases outweighed quarter-over-quarter network traffic growth.
For the full-year 2009, GAAP net loss was $(69.7) million, or $(1.41) per fully diluted share, compared with a net loss of $(104.8) million, or $(2.13) per diluted share in 2008. The net losses in 2009 and 2008 included goodwill impairments and restructuring charges totaling $54.7 million and $101.4 million, respectively. Fourth quarter 2009 GAAP net loss was $(0.5) million, or $(0.01) per share, compared with a GAAP net loss of $(2.0) million, or $(0.04) per share, in the prior quarter and a GAAP net loss of $(0.9) million, or $(0.02) per share, in the fourth quarter of 2008. In the fourth quarter of 2009, normalized net income(2), which excludes the impact of stock-based compensation expense and items that management considers non-recurring, was $0.8 million, or $0.02 per fully-diluted share. This compares with third quarter 2009 normalized net loss(2) of $(0.9) million, or $(0.02) per fully-diluted share, and fourth quarter 2008 normalized net income of $1.2 million, or $0.02 per fully-diluted share.
Decreased IP services revenue drove a 4.1 percent decrease in Internap's full-year 2009 total segment profit(2) compared with the prior year. Fourth quarter 2009 segment profit totaled $29.3 million, rising 4.9 percent sequentially and 2.4 percent year-over-year. Improved Data center services revenue and lower proportional costs of sales in both reporting segments were the primary contributors to the year-over-year and sequential-quarter increases. Full-year 2009 segment margin was 44.2 percent, a decrease of 230 basis points compared with full-year 2008. Segment margin in the fourth quarter 2009 was 46.1 percent - an increase sequentially and over fourth quarter 2008 margins of 280 basis points and 160 basis points, respectively.
Adjusted EBITDA for the full-year 2009 totaled $28.0 million compared with $34.3 million in 2008. In the fourth quarter 2009, adjusted EBITDA was $9.0 million, a decrease of 4.1 percent compared with the fourth quarter of 2008. Sequentially, adjusted EBITDA increased $1.4 million, or 18.0 percent. Full-year 2009 adjusted EBITDA margin was 10.9 percent, down 260 basis points versus last year. Fourth quarter 2009 adjusted EBITDA margin fell 40 basis points year-over-year to 14.2 percent. Decreased IP services segment profit drove most of the year-over-year declines in adjusted EBITDA margin. Compared with the third quarter 2009, adjusted EBITDA margin improved 230 basis points, the third consecutive quarter of sequential expansion, as increasing segment margin and stable cash operating expense continued to benefit results.
Cash and cash equivalents totaled $73.9 million at December, 31 2009. Total debt including capital lease obligations was $23.2 million at year-end 2009. Cash generated from operations for the twelve months ended December 31, 2009 was $37.5 million. Capital expenditures over the same period were $17.3 million.
Internap maintained 2,935 customers under contract at the end of the fourth quarter of 2009. Historical trends of key financial and operational metrics can be found in a supplementary data schedule on Internap's website at http://ir.internap.com/results.cfm.
As part of a program disclosed in August of 2009 to deploy additional data center capacity in key markets, Internap announced plans to expand company-controlled data center operations in Houston and Silicon Valley. The new facility in Silicon Valley, will add 27,000 net sellable square feet of premium data center capacity in two phases for approximately $23 million. The first phase will total 14,000 feet and is planned to come on line in the third quarter of 2010. In Houston, a market where Internap's company-controlled utilization is approaching capacity, the company estimates that it will spend approximately $5 million for an additional 5,000 net sellable square feet which is also planned to turn-up in the third quarter of this year. Both the Silicon Valley data center and the expansion in Houston are being built with controls designed to achieve objectives included in SAS-70, type II compliance and meet N+1 redundancy standards for UPS, backup generators, and HVAC systems.
------------------------------
1. Segment profit is segment revenue less direct costs of network, sales
and services, exclusive of depreciation and amortization, as presented
in the notes to our consolidated financial statements filed with the
United States Securities and Exchange Commission in Quarterly Reports
on Form 10-Q and Annual Reports on Form 10-K. Segment profit does not
include direct costs of customer support, direct costs of amortization
of acquired technologies or any other depreciation or amortization
associated with direct costs. Segment margin is segment profit as a
percentage of segment revenue.
2. Reconciliations between accounting principles generally accepted in the
United States, or GAAP, information and non-GAAP information contained
in this press release are provided in the tables below entitled
"Reconciliation of Loss from Operations to Adjusted EBITDA," and
"Reconciliation of Net Loss and Basic and Diluted Net Loss Per Share to
Normalized Net Income (Loss) and Basic and Diluted Normalized Net
Income (Loss) Per Share." This information is also available on our
website under the Investor Services section. Adjusted EBITDA margin is
Adjusted EBITDA as a percentage of total revenue.
Conference Call Information:
Internap's fourth quarter and full-year 2009 conference call will be held today at 5:00 p.m., EST. Participants may access the call by dialing 877-548-7901. International callers should dial 719-325-4829. Listeners may connect to the simultaneous webcast, which will include accompanying presentation slides, on the investor relations section of Internap's web site at http://ir.internap.com/events.cfm. An online archive of the webcast presentation will be available for one month following the call. An audio-only replay will be accessible from Tuesday, March 2, 2010 at 8 p.m. EST through Tuesday, March 9, 2010 at 888-203-1112 using the replay code 5245513. International callers can access the archived event at 719-457-0820 with the same code.
About Internap
Internap is a leading Internet solutions and data center company that provides The Ultimate Online Experience(TM) by managing, delivering and distributing applications and content with 100 percent performance and reliability. With a global platform of data centers, managed Internet services and a content delivery network, Internap frees its customers to innovate their business, improve service levels, and lower the cost of IT operations. Thousands of companies across the globe trust Internap to help them achieve their Internet business goals. For more information, visit http://www.internap.com.
Internap "Safe Harbor" Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements related to Internap's ability to create long-term stockholder value and its expectations regarding the expansion of data center capacity, including costs and timing. Because such statements are not guarantees of future performance and involve risks and uncertainties, there are important factors that could cause Internap's actual results to differ materially from those in the forward-looking statements. These factors include Internap's ability to achieve or sustain profitability; its ability to expand margins and drive higher returns on investment; its ability to maintain current customers and obtain new ones, whether in a cost-effective manner or at all; its ability to correctly forecast capital needs, demand planning and space utilization; its ability to respond successfully to technological change and the resulting competition; the availability of services from Internet network service providers or network service providers providing network access loops and local loops on favorable terms, or at all; failure of third party suppliers to deliver their products and services on favorable terms, or at all; failures in its network operations centers, data centers, network access points or computer systems; its ability to provide or improve Internet infrastructure services to its customers; and its ability to protect its intellectual property, as well as other factors discussed in Internap's filings with the Securities and Exchange Commission. Internap undertakes no obligation to revise or update any forward-looking statement for any reason.
Press Contact: Investor Contact:
Mariah Torpey Andrew McBath
(781) 418-2404 (404) 302-9700
internap@daviesmurphy.comir@internap.com
INTERNAP NETWORK SERVICES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Three Months Ended Year Ended
December 31, December 31,
------------------- -----------------
2009 2008 2009 2008
---- ---- ---- ----
Revenues:
Internet protocol (IP)
services $30,373 $33,950 $125,548 $139,737
Data center services 33,176 30,262 130,711 114,252
------ ------ ------- -------
Total revenues 63,549 64,212 256,259 253,989
------ ------ ------- -------
Operating costs and
expenses:
Direct costs of
network, sales and
services, exclusive
of depreciation and
amortization, shown
below:
IP services 11,210 13,045 48,055 51,885
Data center
services 23,065 22,580 94,961 83,992
Direct costs of
customer support 4,919 3,699 18,527 16,217
Direct costs of
amortization of
acquired technologies 979 1,143 8,349 6,649
Sales and marketing 7,430 6,954 28,131 30,888
General and
administrative 9,087 9,656 44,152 44,235
Depreciation and
amortization 7,387 6,639 28,282 23,865
Loss (gain) on
disposals of
property and
equipment 6 - 26 (16)
Impairments and
restructuring 93 1,026 54,698 101,441
--- ----- ------ -------
Total operating
costs and
expenses 64,176 64,742 325,181 359,156
------ ------ ------- -------
Loss from operations (627) (530) (68,922) 105,167)
Non-operating
expense (income) 160 479 461 (245)
--- --- --- ----
Loss before income taxes
and equity in (earnings)
of equity-method
investment (787) (1,009) (69,383) (104,922)
(Benefit) provision
for income taxes (218) (58) 357 174
Equity in (earnings)
of equity-method
investment,
net of taxes (72) (41) (15) (283)
--- --- --- ----
Net loss $(497) $(910) $(69,725) $(104,813)
===== ===== ======== ========
Basic and diluted
net loss per share $(0.01) $(0.02) $(1.41) $(2.13)
====== ====== ====== ======
Weighted average
shares outstanding
used in computing
basic and diluted
net loss per share 49,657 49,338 49,577 49,238
====== ====== ====== ======
INTERNAP NETWORK SERVICES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
December 31, December 31,
----------- -----------
2009 2008
---- ----
ASSETS
Current assets:
Cash and cash equivalents $73,926 $46,870
Short-term investments in
marketable securities and
other related assets 7,000 7,199
Accounts receivable, net of
allowance for doubtful
accounts of $1,953 and
$2,777, respectively 18,685 28,634
Inventory 375 381
Prepaid expenses and other assets 8,768 10,867
----- ------
Total current assets 108,754 93,951
Property and equipment, net of
accumulated depreciation of
$203,027 and $185,895,
respectively 91,151 97,350
Investments and other related
assets,$- and $7,027,
respectively, measured at
fair value 1,804 8,650
Intangible assets, net of
accumulated amortization of
$39,377 and $30,351,
respectively 20,782 33,942
Goodwill 39,464 90,977
Deposits and other assets 2,637 2,763
Deferred tax asset, non-
current, net 2,910 2,450
----- -----
Total assets $267,502 $330,083
======== ========
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities:
Accounts payable $17,237 $19,642
Accrued liabilities 10,192 8,756
Deferred revenues, current
portion 3,817 3,710
Capital lease obligations,
current portion 25 274
Restructuring liability,
current portion 2,819 2,800
Other current liabilities 125 116
--- ---
Total current liabilities 34,215 35,298
Revolving credit facility, due
after one year 20,000 20,000
Deferred revenues, less
current portion 2,492 2,248
Capital lease obligations,
less current portion 3,217 3,244
Restructuring liability, less
current portion 6,123 6,222
Deferred rent 16,417 14,114
Other long-term liabilities 636 762
--- ---
Total liabilities 83,100 81,888
------ ------
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par
value, 20,000 shares
authorized; no shares issued
or outstanding - -
Common stock, $0.001 par
value; 60,000 shares
authorized; 50,763 and 50,224
shares outstanding,
respectively 51 50
Additional paid-in capital 1,221,456 1,216,267
Treasury stock, at cost, 42
and 83 shares, respectively (127) (370)
Accumulated deficit (1,036,548) (966,823)
Accumulated items of other
comprehensive income (430) (929)
---- -----
Total stockholders' equity 184,402 248,195
------- -------
Total liabilities and
stockholders' equity $267,502 $330,083
======== ========
INTERNAP NETWORK SERVICES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended
December 31,
-----------------------
2009 2008
---- ----
Cash Flows From Operating Activities:
Net loss $(69,725) $(104,813)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization 32,496 28,663
Loss (gain) on disposal of property and
equipment, net 26 (16)
Goodwill and other intangible asset
impairments 55,647 102,336
Stock-based compensation 5,613 7,499
Equity in (earnings) from equity-method
investment (15) (283)
Provision for doubtful accounts 2,711 5,083
Non-cash changes in deferred rent 2,303 3,102
Deferred income taxes (459) 644
Other, net 178 (477)
Changes in operating assets and liabilities:
Accounts receivable 7,238 2,424
Inventory, prepaid expenses, deposits and
other assets 2,205 (2,919)
Accounts payable (2,405) 18
Accrued and other liabilities 1,436 (1,404)
Deferred revenue 351 (836)
Accrued restructuring liability (80) (1,070)
--- ------
Net cash flows provided by operating
activities 37,520 37,951
------ ------
Cash Flows From Investing Activities:
Purchases of investments in marketable
securities - (21,422)
Maturities of investments in marketable
securities 7,374 26,591
Purchases of property and equipment (17,278) (51,154)
Proceeds from disposal of property and
equipment 4 175
Change in restricted cash - 4,120
--- -----
Net cash flows used in investing activities (9,900) (41,690)
------ -------
Cash Flows From Financing Activities:
Proceeds from credit facility, due after one
year 78,500 20,000
Principal payments on credit facility, due
after one year (78,500) (20,000)
Payments on capital lease obligations (276) (807)
Stock-based compensation plans (205) 108
Other, net (117) (122)
---- ----
Net cash flows used in financing activities (598) (821)
---- ----
Effect of exchange rates on cash and cash
equivalents 34 (600)
--- ----
Net increase (decrease) in cash and cash
equivalents 27,056 (5,160)
Cash and cash equivalents at beginning
of period 46,870 52,030
------ ------
Cash and cash equivalents at end of period $73,926 $46,870
======= =======
INTERNAP NETWORK SERVICES CORPORATION
NON-GAAP (ADJUSTED) FINANCIAL MEASURES
In addition to providing financial measurements based on accounting principles generally accepted in the United States of America (GAAP), Internap has historically provided additional financial measures that are not prepared in accordance with GAAP (non-GAAP), including adjusted EBITDA, normalized net income (loss), normalized diluted shares outstanding, segment profit and segment margin. The most directly comparable GAAP equivalent to adjusted EBITDA and normalized net income (loss) is loss from operations and net loss, respectively. The most directly comparable GAAP equivalent to normalized diluted shares outstanding is diluted common shares outstanding. Segment profit is defined and disclosed in the notes to our consolidated financial statements filed with the United States Securities and Exchange Commission in Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K.
We define non-GAAP measures as follows:
-- Adjusted EBITDA is loss from operations plus depreciation and
amortization, loss on disposals of property and equipment, impairments
and restructuring and stock-based compensation.
-- Adjusted EBITDA margin is adjusted EBITDA as a percentage of revenues.
-- Normalized net income (loss) is net loss plus impairments and
restructuring and stock-based compensation.
-- Normalized diluted shares outstanding are diluted shares of common
stock outstanding used in GAAP net loss per share calculations,
excluding the dilutive effect of stock-based compensation using the
treasury stock method.
-- Normalized net income (loss) per share is normalized net income (loss)
divided by basic and normalized diluted shares outstanding.
-- Segment profit is segment revenues less direct costs of network, sales
and services, exclusive of depreciation and amortization for the
segment, as presented in the notes to our consolidated financial
statements. Segment profit does not include direct costs of customer
support, direct costs of amortization of acquired technologies or any
other depreciation or amortization associated with direct costs.
-- Segment margin is segment profit as a percentage of segment revenues.
We detail reconciliations of our non-GAAP financial measures to the most directly comparable financial measure in the reconciliations of GAAP to non-GAAP measures below. We believe that presentation of these non-GAAP financial measures provides useful information to investors regarding our results of operations.
We believe that excluding depreciation and amortization and loss on disposals of property and equipment, as well as impairments and restructuring, to calculate adjusted EBITDA provides supplemental information and an alternative presentation that is useful to investors' understanding of Internap's core operating results and trends. Not only are depreciation and amortization expenses based on historical costs of assets that may have little bearing on present or future replacement costs, but also they are based on management estimates of remaining useful lives. Loss on disposals of property and equipment is also based on historical costs of assets that may have little bearing on replacement costs. Impairments and restructuring reflect the charge for ceasing to use part of a smaller leased data center facility and a sales office during the three months ended December 31, 2009 and adjustments in sublease income assumptions for certain properties included in previously-disclosed restructuring plans for the three months ended December 31, 2008. Internap believes that impairment and restructuring charges are unique costs that we do not expect to recur on a regular basis, and consequently, we do not consider these charges as a normal component of expenses related to current and ongoing operations.
INTERNAP NETWORK SERVICES CORPORATION
NON-GAAP (ADJUSTED) FINANCIAL MEASURES (Continued)
Similarly, we believe that excluding the effects of stock-based compensation from non-GAAP financial measures provides supplemental information and an alternative presentation useful to investors' understanding of Internap's core operating results and trends. Investors have indicated that they consider financial measures of our results of operations excluding stock-based compensation as important supplemental information useful to their understanding of our historical results and estimating our future results.
We also believe that, in excluding the effects of stock-based compensation, our non-GAAP financial measures provide investors with transparency into what management uses to measure and forecast our results of operations, to compare on a consistent basis our results of operations for the current period to that of prior periods, to compare our results of operations on a more consistent basis against that of other companies, in making financial and operating decisions and to establish certain management compensation.
Stock-based compensation is an important part of total compensation, especially from the perspective of employees. We believe, however, that supplementing GAAP net loss and net loss per share information by providing normalized net income (loss) and normalized net income (loss) per share, excluding the effect of impairments, restructuring and stock-based compensation in all periods, is useful to investors because it enables additional and more meaningful period-to-period comparisons. We consider normalized diluted shares to be another important indicator of our overall performance because it eliminates the effect of non-cash items.
Adjusted EBITDA is not a measure of liquidity calculated in accordance with GAAP, and should be viewed as a supplement to -- not a substitute for -- our results of operations presented on the basis of GAAP. Adjusted EBITDA does not purport to represent cash flow provided by operating activities as defined by GAAP. Our statement of cash flows presents our cash flow activity in accordance with GAAP. Furthermore, adjusted EBITDA is not necessarily comparable to similarly-titled measures reported by other companies.
We believe adjusted EBITDA is used by and is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to compare business performance across companies and across periods. We believe that:
-- EBITDA is widely used by investors to measure a company's operating
performance without regard to items such as interest expense, income
taxes, depreciation and amortization, which can vary substantially
from company-to-company depending upon accounting methods and book
value of assets, capital structure and the method by which assets were
acquired; and
-- investors commonly adjust EBITDA information to eliminate the effect
of disposals of property and equipment, impairments, restructuring and
stock-based compensation which vary widely from company-to-company and
impair comparability.
Our management uses adjusted EBITDA:
-- as a measure of operating performance to assist in comparing
performance from period-to-period on a consistent basis;
-- as a measure for planning and forecasting overall expectations and for
evaluating actual results against such expectations; and
-- in communications with the board of directors, stockholders, analysts
and investors concerning our financial performance.
INTERNAP NETWORK SERVICES CORPORATION
NON-GAAP (ADJUSTED) FINANCIAL MEASURES (Continued)
Our presentation of segment profit and segment margin excludes direct costs of customer support, depreciation and amortization in order to allow investors to see the business through the eyes of management. Management views direct costs of network, sales and services as generally less controllable, external costs and management regularly monitors the margin of revenues in excess of these direct costs. Similarly, we view the costs of customer support to also be an important component of costs of revenues but believe that the costs of customer support to be more within our control and to some degree discretionary as we can adjust those costs by hiring and terminating employees.
Segment margin is an important metric to our investors and analysts, as we have regularly discussed and disclosed the effects of third party vendors' pricing declines and the corresponding effect on our revenues. The presentation of segment margin highlights the impact of the pricing declines and allows investors and analysts to evaluate our revenue generation performance relative to direct costs of network, sales and services. Conversely, we have much greater latitude in controlling the compensation component of costs of revenues, represented by customer support, and we analyze this component separately from the direct external costs.
We also have excluded depreciation and amortization from segment profit and segment margin because, as noted above, they are based on estimated useful lives of tangible and intangible assets. Further, depreciation and amortization are based on historical costs incurred to build out our deployed network and the historical costs of these assets may not be indicative of current or future capital expenditures.
Although we believe, for the foregoing reasons, that our presentation of non-GAAP financial measures provides useful supplemental information to investors regarding our results of operations, our non-GAAP financial measures should only be considered in addition to, and not as a substitute for, or superior to, any measure of financial performance prepared in accordance with GAAP.
Use of non-GAAP financial measures is subject to inherent limitations because they do not include all the expenses that must be included under GAAP and because they involve the exercise of judgment of which charges should properly be excluded from the non-GAAP financial measure. Management accounts for these limitations by not relying exclusively on non-GAAP financial measures, but only using such information to supplement GAAP financial measures. Our non-GAAP financial measures may not be the same non-GAAP measures, and may not be calculated in the same manner, as those used by other companies.
INTERNAP NETWORK SERVICES CORPORATION
RECONCILIATION OF LOSS FROM OPERATIONS TO ADJUSTED EBITDA
A reconciliation of loss from operations, the most directly comparable GAAP measure, to adjusted EBITDA for each of the periods indicated is as follows (in thousands):
Three Months Ended
----------------------------------------
December 31, September 30, December 31,
2009 2009 2008
----------- ------------ -----------
Loss from operations (GAAP) $(627) $(1,743) $(530)
Depreciation and amortization,
including depreciation and
amortization included in
direct costs of network,
sales and services 8,366 8,292 7,782
Loss on disposals of
property and equipment 6 20 -
Impairments and restructuring 93 - 1,026
Stock-based compensation 1,178 1,071 1,128
----- ----- -----
Adjusted EBITDA (non-GAAP) $9,016 $7,640 $9,406
====== ====== ======
INTERNAP NETWORK SERVICES CORPORATION
RECONCILIATION OF NET LOSS AND BASIC AND DILUTED
NET LOSS PER SHARE TO NORMALIZED NET INCOME (LOSS) AND
BASIC AND DILUTED NORMALIZED NET INCOME (LOSS) PER SHARE
Reconciliations of (1) net loss, the most directly comparable GAAP measure, to normalized net income (loss), (2) diluted shares outstanding used in per share calculations, the most directly comparable GAAP measure, to normalized diluted shares used in normalized per share outstanding calculations and (3) net loss per share, the most directly comparable GAAP measure, to normalized net income (loss) per share for each of the periods indicated is as follows (in thousands, except per share data):
Three Months Ended
------------------------------------------
December 31, September 30, December 31,
2009 2009 2008
---- ---- ----
Net loss (GAAP) $(497) $(1,975) $(910)
Impairments and restructuring 93 - 1,026
Stock-based compensation 1,178 1,071 1,128
----- ----- -----
Normalized net income
(loss) (non-GAAP) $774 $(904) $1,244
Normalized income allocable to
participating securities
(non-GAAP) (16) - (22)
--- --- ---
Normalized net income
(loss) available to
common stockholders
(non-GAAP) $758 $(904) $1,222
==== ===== ======
Weighted average shares
outstanding used in per
share calculation:
Basic (GAAP) 49,657 49,638 49,338
Participating securities
(GAAP) 1,081 1,126 871
Diluted (GAAP) 49,657 49,638 49,338
Add potentially dilutive
securities 54 - 4
Less dilutive effect of
stock-based compensation
using the treasury stock
method (54) - -
--- --- ---
Normalized diluted
shares outstanding
(non-GAAP) 49,657 49,638 49,342
====== ====== ======
GAAP net loss per share:
Basic $(0.01) $(0.04) $(0.02)
====== ====== ======
Diluted $(0.01) $(0.04) $(0.02)
====== ====== ======
Normalized net income
(loss) per share (non-GAAP):
Basic $0.02 $(0.02) $0.02
===== ====== =====
Diluted $0.02 $(0.02) $0.02
===== ====== =====
INTERNAP NETWORK SERVICES CORPORATION
SEGMENT PROFIT AND SEGMENT MARGIN
Segment profit and segment margin, which does not include direct costs of customer support, direct costs of amortization of acquired technologies or any other depreciation or amortization, for each of the periods indicated is as follows (dollars in thousands):
Three Months Ended
---------------------------------------
December 31, September 30, December 31,
2009 2009 2008
---- ---- ----
Revenues:
IP services $30,373 $30,867 $33,950
Data center services 33,176 33,547 30,262
------ ------ ------
Total 63,549 64,414 64,212
------ ------ ------
Direct costs of network,
sales and services,
exclusive of depreciation
and amortization:
IP services 11,210 12,047 13,045
Data center services 23,065 24,450 22,580
------ ------ ------
Total 34,275 36,497 35,625
------ ------ ------
Segment profit:
IP services 19,163 18,820 20,905
Data center services 10,111 9,097 7,682
------ ----- -----
Total $29,274 $27,917 $28,587
======= ======= =======
Segment margin:
IP services 63.1% 61.0% 61.6%
Data center services 30.5% 27.1% 25.4%
---- ---- ----
Total 46.1% 43.3% 44.5%
==== ==== ====
(Logo: http://www.newscom.com/cgi-bin/prnh/20100205/CL49469 )
Photo: http://www.newscom.com/cgi-bin/prnh/20100205/CL49469
Source: Internap Network Services Corporation
CONTACT: Press: Mariah Torpey, +1-781-418-2404,
internap@daviesmurphy.com; or Investor Contact: Andrew McBath,
+1-404-302-9700, ir@internap.com
Web Site: http://www.internap.com/
EQ Smart Energy Drink(TM) Tablets to be Sold in 'Big Box' Retail Outlets
Poster: SySAdmin
Posted on March 2, 2010 at 4:42:01 PM
EQ Smart Energy Drink(TM) Tablets to be Sold in 'Big Box' Retail Outlets
LAS VEGAS, March 2 -- EQ Labs, Inc. (Pink Sheets: EQLB) announced today that the company's EQ Smart Energy Drink(TM) effervescent tablets will soon appear in check out areas in a limited number of U.S. "Big Box" retail stores beginning later this month. One of the largest retailers of consumer electronics in the U.S. and Canada, this electronic and consumer products retailer plans on initially introducing the EQ Labs product in approximately 200 domestic locations.
"Gamers who spend long hours playing video games will now have convenient access to an energy drink product that tastes great, is proven safe, fast acting, and dependable from EQ Labs, the manufacturer of this unique effervescent energy drink product," stated Maurice Owens, the CEO of EQ Labs.
"Our target market has always been young, active individuals, so it makes perfect sense to place EQ Labs products in locations where video game enthusiasts purchase their gaming products," Owens continued. "Hopefully, EQ Labs products will become a preferred energy drink for the video gaming industry."
About EQ Labs, Inc.
EQ Labs Smart Energy Drink(TM) is an effervescent tablet that provides instant energy in any beverage. Consisting of a blend of essential vitamins, Gingko Biloba, and less caffeine than a cup of coffee, EQ keeps you going any time -- day or night. For more information about EQ, visit: http://www.drinkeq.com.
Forward-Looking Statements: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by EQ Labs, Inc. are 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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact:
Maurice "Mo" Owens, CEO
EQ Labs, Inc.
TEL: 702-445-7762
FAX: 702-445-7762
Source: EQ Labs, Inc.
CONTACT: Maurice "Mo" Owens, CEO of EQ Labs, Inc., +1-702-445-7762, fax,
+1-702-445-7762
Web Site: http://www.drinkeq.com/
LAS VEGAS, March 2 -- EQ Labs, Inc. (Pink Sheets: EQLB) announced today that the company's EQ Smart Energy Drink(TM) effervescent tablets will soon appear in check out areas in a limited number of U.S. "Big Box" retail stores beginning later this month. One of the largest retailers of consumer electronics in the U.S. and Canada, this electronic and consumer products retailer plans on initially introducing the EQ Labs product in approximately 200 domestic locations.
"Gamers who spend long hours playing video games will now have convenient access to an energy drink product that tastes great, is proven safe, fast acting, and dependable from EQ Labs, the manufacturer of this unique effervescent energy drink product," stated Maurice Owens, the CEO of EQ Labs.
"Our target market has always been young, active individuals, so it makes perfect sense to place EQ Labs products in locations where video game enthusiasts purchase their gaming products," Owens continued. "Hopefully, EQ Labs products will become a preferred energy drink for the video gaming industry."
About EQ Labs, Inc.
EQ Labs Smart Energy Drink(TM) is an effervescent tablet that provides instant energy in any beverage. Consisting of a blend of essential vitamins, Gingko Biloba, and less caffeine than a cup of coffee, EQ keeps you going any time -- day or night. For more information about EQ, visit: http://www.drinkeq.com.
Forward-Looking Statements: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by EQ Labs, Inc. are 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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact:
Maurice "Mo" Owens, CEO
EQ Labs, Inc.
TEL: 702-445-7762
FAX: 702-445-7762
Source: EQ Labs, Inc.
CONTACT: Maurice "Mo" Owens, CEO of EQ Labs, Inc., +1-702-445-7762, fax,
+1-702-445-7762
Web Site: http://www.drinkeq.com/
Hit a Home Run at Spring Training With Apps on the Verizon Wireless Network
Poster: SySAdmin
Posted on March 2, 2010 at 4:35:01 PM
Hit a Home Run at Spring Training With Apps on the Verizon Wireless Network
Palm, Media Center/Get It Now and DROID Apps Keep Customers Connected in Arizona and Florida
IRVINE, Calif., March 2 -- With spring training in full swing in Arizona and Florida, baseball fans can hit one out of the park with applications found on Verizon Wireless phones, running on the nation's largest and most reliable wireless voice and 3G data network.
Get a Jump on the Season
Taking a last-minute road trip to spring training? Available on Palm® Pre(TM) Plus and Palm Pixi(TM) Plus, the Palm App Catalog offers Verizon Wireless customers a way to stay entertained during the trek to the Grand Canyon or Sunshine states.
-- Baseball Fans - This $3.99 app gives customers access to the latest
news, videos, stats, standings and scores for all 30 professional
baseball teams so they can catch up on their favorites on the way to
spring training sites.
-- License Plate Game - This multi-player classic road trip game ($1.49)
entertains users as they travel the highways to Florida and Arizona by
keeping track of the different license plates that they see while
riding as a passenger in a vehicle. Verizon Wireless reminds
customers that they should never use data services or apps while they
are driving. Please visit
http://aboutus.vzw.com/wirelessissues/driving.html for more
information about Responsible Driving.
-- GoodFood - Restaurants Near You - This free app has an interactive map
so users can view restaurants nearby, which they can filter by cuisine
or price to find the best place to eat during their trip.
Share the Spring Training Experience
Apps found in the Media Center/Get it Now®, available on 3G Multimedia Phones and Simple Feature Phones such as the LG enV®3, LG VX8360 and Samsung Trance(TM), give hardcore fans at spring training ways to keep family and friends up to speed on their activities.
-- Photobucket Mobile Uploader - This $2.99 app automatically saves every
action shot and fan photo directly to customers' Photobucket accounts
so they can share their spring training experiences with fellow fans
near and far.
-- FOX Sports Ultimate - This downloadable sports experience, available
for $4.99, features live play by play, breaking news, scores and
stats. Fantasy baseball updates also let users keep track of their
teams and make trades while checking out the new and veteran talent
during spring training.
-- WeatherBug - Rain delays don't always have to ruin the day. For a
$2.99 subscription, users can always be informed and prepared with
live local weather, severe weather alerts, detailed forecasts and
international weather, giving baseball lovers plenty of time to make
other plans if games are cancelled.
Find Entertainment After the Games
Whether celebrating a win or complaining about a loss, apps in Android Market(TM) on DROID by Motorola help customers find the best post-game entertainment and plan the rest of their time at spring training.
-- Pro Baseball Live - When the final strike has been called and the
stands have emptied, customers can relive the games with live play by
play on the free Pro Baseball Live app. They can also view the latest
standings, easily keep track of their favorite teams, and connect to
their Facebook® and Google accounts to chat with other fans.
-- Bars & Clubs - This free app gives customers turn-by-turn directions
to the nearest bars, which they can filter by category, including
sports bars, and distance. With so many superstar coaches and players
exploring spring training cities, there may even be a chance to buy a
drink for a favorite baseball legend.
-- HotelsByMe - Hotels & Hotel Reservations - Fans who decide to stay an
extra night to take in even more spring training action can use the
free HotelsByMe app, which allows customers to find and book hotel
properties with real-time search for availability and rates and a
secure and fast booking process.
-- Sixt Rent a Car - Need a last-minute rental car to get around Arizona
or Florida? The free Sixt Rent a Car application provides one-click
access to local Sixt stations and reservation confirmation via SMS or
e-mail.
To purchase any of the devices mentioned or for more information on Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (Nasdaq and LSE: VOD). For more information, visit http://www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Source: Verizon Wireless
CONTACT: Ken Muche of Verizon Wireless, +1-949-286-8193,
Ken.Muche@VerizonWireless.com
Web Site: http://www.verizonwireless.com/
Palm, Media Center/Get It Now and DROID Apps Keep Customers Connected in Arizona and Florida
IRVINE, Calif., March 2 -- With spring training in full swing in Arizona and Florida, baseball fans can hit one out of the park with applications found on Verizon Wireless phones, running on the nation's largest and most reliable wireless voice and 3G data network.
Get a Jump on the Season
Taking a last-minute road trip to spring training? Available on Palm® Pre(TM) Plus and Palm Pixi(TM) Plus, the Palm App Catalog offers Verizon Wireless customers a way to stay entertained during the trek to the Grand Canyon or Sunshine states.
-- Baseball Fans - This $3.99 app gives customers access to the latest
news, videos, stats, standings and scores for all 30 professional
baseball teams so they can catch up on their favorites on the way to
spring training sites.
-- License Plate Game - This multi-player classic road trip game ($1.49)
entertains users as they travel the highways to Florida and Arizona by
keeping track of the different license plates that they see while
riding as a passenger in a vehicle. Verizon Wireless reminds
customers that they should never use data services or apps while they
are driving. Please visit
http://aboutus.vzw.com/wirelessissues/driving.html for more
information about Responsible Driving.
-- GoodFood - Restaurants Near You - This free app has an interactive map
so users can view restaurants nearby, which they can filter by cuisine
or price to find the best place to eat during their trip.
Share the Spring Training Experience
Apps found in the Media Center/Get it Now®, available on 3G Multimedia Phones and Simple Feature Phones such as the LG enV®3, LG VX8360 and Samsung Trance(TM), give hardcore fans at spring training ways to keep family and friends up to speed on their activities.
-- Photobucket Mobile Uploader - This $2.99 app automatically saves every
action shot and fan photo directly to customers' Photobucket accounts
so they can share their spring training experiences with fellow fans
near and far.
-- FOX Sports Ultimate - This downloadable sports experience, available
for $4.99, features live play by play, breaking news, scores and
stats. Fantasy baseball updates also let users keep track of their
teams and make trades while checking out the new and veteran talent
during spring training.
-- WeatherBug - Rain delays don't always have to ruin the day. For a
$2.99 subscription, users can always be informed and prepared with
live local weather, severe weather alerts, detailed forecasts and
international weather, giving baseball lovers plenty of time to make
other plans if games are cancelled.
Find Entertainment After the Games
Whether celebrating a win or complaining about a loss, apps in Android Market(TM) on DROID by Motorola help customers find the best post-game entertainment and plan the rest of their time at spring training.
-- Pro Baseball Live - When the final strike has been called and the
stands have emptied, customers can relive the games with live play by
play on the free Pro Baseball Live app. They can also view the latest
standings, easily keep track of their favorite teams, and connect to
their Facebook® and Google accounts to chat with other fans.
-- Bars & Clubs - This free app gives customers turn-by-turn directions
to the nearest bars, which they can filter by category, including
sports bars, and distance. With so many superstar coaches and players
exploring spring training cities, there may even be a chance to buy a
drink for a favorite baseball legend.
-- HotelsByMe - Hotels & Hotel Reservations - Fans who decide to stay an
extra night to take in even more spring training action can use the
free HotelsByMe app, which allows customers to find and book hotel
properties with real-time search for availability and rates and a
secure and fast booking process.
-- Sixt Rent a Car - Need a last-minute rental car to get around Arizona
or Florida? The free Sixt Rent a Car application provides one-click
access to local Sixt stations and reservation confirmation via SMS or
e-mail.
To purchase any of the devices mentioned or for more information on Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (Nasdaq and LSE: VOD). For more information, visit http://www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Source: Verizon Wireless
CONTACT: Ken Muche of Verizon Wireless, +1-949-286-8193,
Ken.Muche@VerizonWireless.com
Web Site: http://www.verizonwireless.com/
Intrusion Inc. Debuts Savant, a New Class of Data Mining and Network Analysis Devices
Poster: SySAdmin
Posted on March 2, 2010 at 4:28:01 PM
Intrusion Inc. Debuts Savant, a New Class of Data Mining and Network Analysis Devices
RICHARDSON, Texas, March 2 -- Intrusion Inc. (OTC Bulletin Board: INTZ) ("Intrusion") announced today Savant(TM), a new class of data mining and network analysis devices. Savant defines the next generation of network traffic flow analysis and data mining tools. Current devices simply roll packets into sessions and data flows, but go no further. This leaves users inundated with large amounts of interesting data, and limited answers. Whether it is a 100Mbps or 10Gbps network, Savant encompasses all the traditional network performance monitoring, security surveillance and forensic analysis while adding truly unique functions.
In an industry where 20Gbps performance is frequently an exaggeration, Savant's 20Gbps patent pending technology simultaneously provides protocol decodes, detailed data analysis and near 100% packet captures. Savant's ability to warehouse and logically index hundreds of millions of items per second ensures accurate and meaningful analysis of high-speed networks. No more guess work or reliance on statistical sampling. Savant covers near 100% of the basics at faster speeds, but adds unique new capabilities previously unavailable. "Savant truly represents ground-breaking technology in multi-threaded deep packet analysis and recording. It is far superior on networks ranging from 100Mbps to 10Gbps because it can capture data deep inside of the flows that have previously been inaccessible at line rates. No other product on the market today can match Savant's real-time extraction performance at full-duplex 10Gbps speeds," stated Daris Nevil, Savant Engineering Manager.
Savant Covers the Basics but adds critical new capabilities:
Savant Adds:
-- Social Networks and bot network mapping;
-- Content and context analysis of content flows;
-- History and nature of relationships;
-- Communications based relationships;
-- Mapping protocol specific personal IDs to humans and their machines -
emails, phone numbers, chat IDs, etc;
-- Communicants - humans/code/bots.
Savant Improves:
-- Flows --- Savant extends well beyond NetFlow, sflow and J-flow, by
adding full details beyond mere IP connections and counts;
-- Protocols --- Selected data element extraction - get only the data you
are interested in;
-- Sessions --- TCP sessions to humans and machines;
-- Packets --- Augment packet decoding with statistical information
including counts, first time seen, last time seen, time-based
histograms and more.
Savant's Uniqueness:
Savant integrates knowledge of flows and communicants observed over days, months, and years - without dropping or ignoring a single communication, communicant, or anomaly. Savant's Accumulator(TM) supports data accretion rates of 400 million items per second and uses a new and innovative approach to "captured" data and database storage. With Savant, you'll no longer have to imagine what could be possible if you were able to track everything that goes on across your networks - Savant makes significant strides in network understanding. Whether you use Savant for detecting botnet infections, hidden compromises, measuring customer services response times, discovering criminal behavior, or a myriad of other possibilities previously impossible, Savant is a generational step beyond the current offerings. Savant gives you full tracking and instrumentation of email, chat, DNS, VoIP, socket API calls, SQL, or any collation on protocols. Savant does not use simple statistics, but gives you the ability to instrument items you might want to understand about what is flowing across a network trunk or backbone. Using Savant, a user can collate by conversations within higher layer protocols such as giving traffic flow history by email address, chat ID, server name, VoIP phone number, service API, database, or anything that is based on a decoded protocol.
An old proverb says, "Wisdom is knowing what to ignore and what to pay attention to." Savant is a tool that is built to make a wise user far more productive - and provides pre-cooked analysis to solve hard challenges in minutes rather than weeks. "I've done network analysis since the early days of SNMP, RMON, and Netflow. Savant was what I really wanted all the time. We developed Savant out of a sense of disappointment with other tools - and the idea that doing it right would be helpful to many network experts," stated Joe Head, Sr. Vice President and co-founder of Intrusion.
One of Intrusion's partners is launching a service that leverages Savant's content capture and storage ability to instrument social network discovery and intramessage linguistic analysis. This captured data is used to discover pockets of employee strengths in building indices of knowledge, skills, abilities, motivation, and talent inside large workforces. In this instance, Savant is unbiased to the nature of the structure or perceived internal hierarchy of the organization. Ben A. Bittle, Intrusion's VP of Marketing and Product Development stated, "Savant's ability to capture approximately 100% of the content of a given application and seamlessly import the collected content into a plurality of third-party applications has led to many eye-opening discoveries. Social networking relationships that would have been previously overlooked or unknown are now easily displayed and understood by the organization." In other applications, Savant is used to discover infected hosts on DoD contractor networks and to discover other illegal activities previously unknown to the analyst.
Savant is not another simple incremental improvement of old traffic analysis captures, but a better way of capturing and collating network forensics for a variety of applications. Savant has been under development for the past four years and is shipping now. Pricing is available for 100Mbps, 1Gbps and 10Gbps units and can be obtained by contacting sales@intrusion.com or 972.301.3627.
About Intrusion Inc.
Intrusion Inc. is a global provider of entity identification systems, high speed data mining, regulated information compliance, data leak prevention and data privacy protection, and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for entity identification, Savant(TM) for network data mining, Compliance Commander(TM) for regulated information compliance, data leak prevention and data privacy protection, and SecureNet(TM) for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com.
This release contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Such statements include, without limitations, statements regarding future revenue growth and profitability, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements. The factors that could cause actual results to differ materially from expectations are detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."
Media Contact:
Ben Bittle, VP of Marketing and Product Development
972.301.3606, bbittle@intrusion.com
Financial Contact:
Michael L. Paxton, VP, CFO
972.301.3658, mpaxton@intrusion.com
Photo: http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Intrusion Inc.
CONTACT: media, Ben Bittle, VP of Marketing and Product Development,
+1-972-301-3606, bbittle@intrusion.com, or financial, Michael L. Paxton, VP,
CFO, +1-972-301-3658, mpaxton@intrusion.com, both of Intrusion Inc.
Web Site: http://www.intrusion.com/
RICHARDSON, Texas, March 2 -- Intrusion Inc. (OTC Bulletin Board: INTZ) ("Intrusion") announced today Savant(TM), a new class of data mining and network analysis devices. Savant defines the next generation of network traffic flow analysis and data mining tools. Current devices simply roll packets into sessions and data flows, but go no further. This leaves users inundated with large amounts of interesting data, and limited answers. Whether it is a 100Mbps or 10Gbps network, Savant encompasses all the traditional network performance monitoring, security surveillance and forensic analysis while adding truly unique functions.
In an industry where 20Gbps performance is frequently an exaggeration, Savant's 20Gbps patent pending technology simultaneously provides protocol decodes, detailed data analysis and near 100% packet captures. Savant's ability to warehouse and logically index hundreds of millions of items per second ensures accurate and meaningful analysis of high-speed networks. No more guess work or reliance on statistical sampling. Savant covers near 100% of the basics at faster speeds, but adds unique new capabilities previously unavailable. "Savant truly represents ground-breaking technology in multi-threaded deep packet analysis and recording. It is far superior on networks ranging from 100Mbps to 10Gbps because it can capture data deep inside of the flows that have previously been inaccessible at line rates. No other product on the market today can match Savant's real-time extraction performance at full-duplex 10Gbps speeds," stated Daris Nevil, Savant Engineering Manager.
Savant Covers the Basics but adds critical new capabilities:
Savant Adds:
-- Social Networks and bot network mapping;
-- Content and context analysis of content flows;
-- History and nature of relationships;
-- Communications based relationships;
-- Mapping protocol specific personal IDs to humans and their machines -
emails, phone numbers, chat IDs, etc;
-- Communicants - humans/code/bots.
Savant Improves:
-- Flows --- Savant extends well beyond NetFlow, sflow and J-flow, by
adding full details beyond mere IP connections and counts;
-- Protocols --- Selected data element extraction - get only the data you
are interested in;
-- Sessions --- TCP sessions to humans and machines;
-- Packets --- Augment packet decoding with statistical information
including counts, first time seen, last time seen, time-based
histograms and more.
Savant's Uniqueness:
Savant integrates knowledge of flows and communicants observed over days, months, and years - without dropping or ignoring a single communication, communicant, or anomaly. Savant's Accumulator(TM) supports data accretion rates of 400 million items per second and uses a new and innovative approach to "captured" data and database storage. With Savant, you'll no longer have to imagine what could be possible if you were able to track everything that goes on across your networks - Savant makes significant strides in network understanding. Whether you use Savant for detecting botnet infections, hidden compromises, measuring customer services response times, discovering criminal behavior, or a myriad of other possibilities previously impossible, Savant is a generational step beyond the current offerings. Savant gives you full tracking and instrumentation of email, chat, DNS, VoIP, socket API calls, SQL, or any collation on protocols. Savant does not use simple statistics, but gives you the ability to instrument items you might want to understand about what is flowing across a network trunk or backbone. Using Savant, a user can collate by conversations within higher layer protocols such as giving traffic flow history by email address, chat ID, server name, VoIP phone number, service API, database, or anything that is based on a decoded protocol.
An old proverb says, "Wisdom is knowing what to ignore and what to pay attention to." Savant is a tool that is built to make a wise user far more productive - and provides pre-cooked analysis to solve hard challenges in minutes rather than weeks. "I've done network analysis since the early days of SNMP, RMON, and Netflow. Savant was what I really wanted all the time. We developed Savant out of a sense of disappointment with other tools - and the idea that doing it right would be helpful to many network experts," stated Joe Head, Sr. Vice President and co-founder of Intrusion.
One of Intrusion's partners is launching a service that leverages Savant's content capture and storage ability to instrument social network discovery and intramessage linguistic analysis. This captured data is used to discover pockets of employee strengths in building indices of knowledge, skills, abilities, motivation, and talent inside large workforces. In this instance, Savant is unbiased to the nature of the structure or perceived internal hierarchy of the organization. Ben A. Bittle, Intrusion's VP of Marketing and Product Development stated, "Savant's ability to capture approximately 100% of the content of a given application and seamlessly import the collected content into a plurality of third-party applications has led to many eye-opening discoveries. Social networking relationships that would have been previously overlooked or unknown are now easily displayed and understood by the organization." In other applications, Savant is used to discover infected hosts on DoD contractor networks and to discover other illegal activities previously unknown to the analyst.
Savant is not another simple incremental improvement of old traffic analysis captures, but a better way of capturing and collating network forensics for a variety of applications. Savant has been under development for the past four years and is shipping now. Pricing is available for 100Mbps, 1Gbps and 10Gbps units and can be obtained by contacting sales@intrusion.com or 972.301.3627.
About Intrusion Inc.
Intrusion Inc. is a global provider of entity identification systems, high speed data mining, regulated information compliance, data leak prevention and data privacy protection, and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for entity identification, Savant(TM) for network data mining, Compliance Commander(TM) for regulated information compliance, data leak prevention and data privacy protection, and SecureNet(TM) for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com.
This release contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Such statements include, without limitations, statements regarding future revenue growth and profitability, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements. The factors that could cause actual results to differ materially from expectations are detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."
Media Contact:
Ben Bittle, VP of Marketing and Product Development
972.301.3606, bbittle@intrusion.com
Financial Contact:
Michael L. Paxton, VP, CFO
972.301.3658, mpaxton@intrusion.com
Photo: http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Intrusion Inc.
CONTACT: media, Ben Bittle, VP of Marketing and Product Development,
+1-972-301-3606, bbittle@intrusion.com, or financial, Michael L. Paxton, VP,
CFO, +1-972-301-3658, mpaxton@intrusion.com, both of Intrusion Inc.
Web Site: http://www.intrusion.com/
Halifax Corporation Shareholders Approve Company's Acquisition by Global Iron Holdings
Poster: SySAdmin
Posted on March 2, 2010 at 4:14:01 PM
Halifax Corporation Shareholders Approve Company's Acquisition by Global Iron Holdings
ALEXANDRIA, Va., March 2 -- Halifax Corporation of Virginia (Pink Sheets: HALX), today announced the results of its annual shareholders' meeting held earlier today. The proposed acquisition of the Company by Global Iron Holdings, LLC, an affiliate of Global Equity Capital, LLC, and the transactions contemplated thereby was approved by shareholders. The acquisition of the Company by Global Iron Holdings, LLC is expected to close later this week. As result of the transaction, the shareholders of Halifax will receive $1.20 per share for their outstanding shares of Halifax common stock.
In addition, shareholders of the Company reelected the Company's existing board members, John H. Grover, John M. Toups, Daniel R. Young, Thomas L. Hewitt, Arch C. Scurlock, Jr., Donald M. Ervine and Charles L. McNew, to hold office for a term of one year or until their respective successors have been duly elected and qualified.
Charles McNew, President and CEO, stated, "We are pleased to announce the results of the annual meeting and look forward to the completion of our acquisition by Global and our ability to provide a liquidity event for our shareholders."
About Halifax Corporation of Virginia
Founded in 1967, Halifax Corporation of Virginia is an enterprise logistics and maintenance solutions company providing a wide range of technology services to commercial and government customers throughout the United States. The Company's principal products are enterprise logistics solutions and high availability hardware maintenance services. More information on Halifax can be found at http://www.hxcorp.com.
Cautionary Statement on Risks Associated with Halifax Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The words "believe," "expect," "target," "goal," "project," "anticipate," "predict," "intend," "plan," "estimate," "may," "will," "should," "could" and similar expressions and their negatives are intended to identify such statements. Forward-looking statements are not guarantees of future performance, anticipated trends or growth in businesses, or other characterizations of future events or circumstances and are to be interpreted only as of the date on which they are made. Halifax undertakes no obligation to update or revise any forward-looking statement. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by Halifax described in documents filed with the SEC from time to time. Halifax's SEC filings can be accessed through the Investor Relations section of our website, http://www.hxcorp.com, or through the SEC's EDGAR Database at http://www.sec.gov.
Source: Halifax Corporation of Virginia
CONTACT: Rob Drennen of Halifax Corporation of Virginia, +1-717-506-4700
x2228, rdrennen@hxcorp.com
Web Site: http://www.hxcorp.com/
ALEXANDRIA, Va., March 2 -- Halifax Corporation of Virginia (Pink Sheets: HALX), today announced the results of its annual shareholders' meeting held earlier today. The proposed acquisition of the Company by Global Iron Holdings, LLC, an affiliate of Global Equity Capital, LLC, and the transactions contemplated thereby was approved by shareholders. The acquisition of the Company by Global Iron Holdings, LLC is expected to close later this week. As result of the transaction, the shareholders of Halifax will receive $1.20 per share for their outstanding shares of Halifax common stock.
In addition, shareholders of the Company reelected the Company's existing board members, John H. Grover, John M. Toups, Daniel R. Young, Thomas L. Hewitt, Arch C. Scurlock, Jr., Donald M. Ervine and Charles L. McNew, to hold office for a term of one year or until their respective successors have been duly elected and qualified.
Charles McNew, President and CEO, stated, "We are pleased to announce the results of the annual meeting and look forward to the completion of our acquisition by Global and our ability to provide a liquidity event for our shareholders."
About Halifax Corporation of Virginia
Founded in 1967, Halifax Corporation of Virginia is an enterprise logistics and maintenance solutions company providing a wide range of technology services to commercial and government customers throughout the United States. The Company's principal products are enterprise logistics solutions and high availability hardware maintenance services. More information on Halifax can be found at http://www.hxcorp.com.
Cautionary Statement on Risks Associated with Halifax Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The words "believe," "expect," "target," "goal," "project," "anticipate," "predict," "intend," "plan," "estimate," "may," "will," "should," "could" and similar expressions and their negatives are intended to identify such statements. Forward-looking statements are not guarantees of future performance, anticipated trends or growth in businesses, or other characterizations of future events or circumstances and are to be interpreted only as of the date on which they are made. Halifax undertakes no obligation to update or revise any forward-looking statement. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by Halifax described in documents filed with the SEC from time to time. Halifax's SEC filings can be accessed through the Investor Relations section of our website, http://www.hxcorp.com, or through the SEC's EDGAR Database at http://www.sec.gov.
Source: Halifax Corporation of Virginia
CONTACT: Rob Drennen of Halifax Corporation of Virginia, +1-717-506-4700
x2228, rdrennen@hxcorp.com
Web Site: http://www.hxcorp.com/
Verizon Executive Named to Governor's Science, Technology, Engineering and Math Advisory Council
Poster: SySAdmin
Posted on March 2, 2010 at 3:56:01 PM
Verizon Executive Named to Governor's Science, Technology, Engineering and Math Advisory Council
BOSTON, March 2 -- Stephanie Lee, regional director of public affairs for Verizon, has been appointed by Lt. Gov. Timothy Murray to serve on the Diversity Subcommittee of the Governor's Science, Technology, Engineering and Math (STEM) Advisory Council.
The council, chaired by Murray, seeks to increase student interest and achievement as well as career opportunities in STEM fields. The Diversity Subcommittee will focus on closing the achievement gap and pursuing additional STEM opportunities for women and minorities, an issue Verizon has embraced through its foundation and community relations efforts.
"The STEM Advisory Council is bringing together members of the public and private sector dedicated to investing in STEM education across the commonwealth," said Murray. "Members of the council will be great partners as we continue to promote STEM education and encourage our students, who are the future leaders of the commonwealth's innovation economy, to study science, technology, engineering and math."
As a leading technology company and one of the largest private sector employers in Massachusetts, Verizon has a long-standing track record of supporting education programs that help students improve their science, technology, engineering and math skills. Most recently, the Verizon Foundation issued a request for proposals for public schools to apply for a total of $150,000 in grants to use Thinkfinity.org, the Verizon Foundation's free, online education resource, to help students improve STEM skills. For more information on the RFP, go to http://www.verizon.com/ma.
"Verizon is dedicated to helping students strengthen their academic skills so that they are prepared to succeed in STEM-related higher-education programs and careers," said Lee. "We must do everything we can to ensure young people are prepared for the future. We applaud Gov. Deval Patrick, Lt. Gov. Murray and their administration for shining a spotlight on this important issue, and look forward to helping Massachusetts students develop the skills needed to compete in a fast-paced, global economy."
Lee also serves on the boards of several other community-based organizations including Jane Doe Inc., First Literacy, Northern Essex Community College Foundation, North Shore Community College Foundation and the North Shore Workforce Investment Board. In addition, she is a member of the Greater Boston Chamber of Commerce Future Leaders Class of 2010 and serves on the Communications Working Group of the Massachusetts IT Collaborative.
Last October, the governor signed an executive order establishing the STEM Advisory Council. To learn more about the council and for a complete listing of council members, visit: http://www.mass.gov/governor/stem.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit http://www.verizon.com.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Source: Verizon
CONTACT: Phil Santoro, +1-617-743-4670, philip.g.santoro@verizon.com
Web Site: http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
BOSTON, March 2 -- Stephanie Lee, regional director of public affairs for Verizon, has been appointed by Lt. Gov. Timothy Murray to serve on the Diversity Subcommittee of the Governor's Science, Technology, Engineering and Math (STEM) Advisory Council.
The council, chaired by Murray, seeks to increase student interest and achievement as well as career opportunities in STEM fields. The Diversity Subcommittee will focus on closing the achievement gap and pursuing additional STEM opportunities for women and minorities, an issue Verizon has embraced through its foundation and community relations efforts.
"The STEM Advisory Council is bringing together members of the public and private sector dedicated to investing in STEM education across the commonwealth," said Murray. "Members of the council will be great partners as we continue to promote STEM education and encourage our students, who are the future leaders of the commonwealth's innovation economy, to study science, technology, engineering and math."
As a leading technology company and one of the largest private sector employers in Massachusetts, Verizon has a long-standing track record of supporting education programs that help students improve their science, technology, engineering and math skills. Most recently, the Verizon Foundation issued a request for proposals for public schools to apply for a total of $150,000 in grants to use Thinkfinity.org, the Verizon Foundation's free, online education resource, to help students improve STEM skills. For more information on the RFP, go to http://www.verizon.com/ma.
"Verizon is dedicated to helping students strengthen their academic skills so that they are prepared to succeed in STEM-related higher-education programs and careers," said Lee. "We must do everything we can to ensure young people are prepared for the future. We applaud Gov. Deval Patrick, Lt. Gov. Murray and their administration for shining a spotlight on this important issue, and look forward to helping Massachusetts students develop the skills needed to compete in a fast-paced, global economy."
Lee also serves on the boards of several other community-based organizations including Jane Doe Inc., First Literacy, Northern Essex Community College Foundation, North Shore Community College Foundation and the North Shore Workforce Investment Board. In addition, she is a member of the Greater Boston Chamber of Commerce Future Leaders Class of 2010 and serves on the Communications Working Group of the Massachusetts IT Collaborative.
Last October, the governor signed an executive order establishing the STEM Advisory Council. To learn more about the council and for a complete listing of council members, visit: http://www.mass.gov/governor/stem.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit http://www.verizon.com.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Source: Verizon
CONTACT: Phil Santoro, +1-617-743-4670, philip.g.santoro@verizon.com
Web Site: http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
RTS Unicom Certified by Polycom to Deliver Customized Immersive Telepresence Solutions
Poster: SySAdmin
Posted on March 2, 2010 at 3:56:01 PM
RTS Unicom Certified by Polycom to Deliver Customized Immersive Telepresence Solutions
Certification recognizes RTS Unicom's expertise in visual communication and audio/visual integration to adapt telepresence for specific environments and applications
NEW YORK, March 2 -- RTS Unified Communications an industry-certified provider of design, engineering, project management, installation, service and support for AV/IT clients. Today announced Telepresence Certification from Polycom, Inc., a leading telepresence and video conferencing equipment manufacturer, as a provider of audio/visual (AV) integration for customized immersive telepresence solutions. The certification enables RTS to leverage a new line of highly adaptable immersive telepresence solutions, Polycom Architected Telepresence Experience(TM) (Polycom ATX) 300, to help organizations customize immersive telepresence for their specific application and space requirements.
"As part of our ongoing expansion, RTS Unified Communications is pleased to offer a full range of UC services, our partnership with Polycom supports our decision to move into this market space," said John J. Pepe, CEO, RTS Unified Communications. "We are very excited to offer our clients a full range of AV / IT services. Our clients clearly have an increasing interest in telepresence and visual communication as a whole; this partnership enhances our ability to meet customer needs."
"Customers are often looking for flexibility to tailor telepresence for very specific requirements," said Ron Myers, vice president of channels at Polycom. "With expertise in visual communication deployments and certification for the new Polycom ATX solutions, RTS offers customers a comprehensive range of Polycom telepresence offerings and services, including the ability to develop specialized solutions for very specific business requirements. We are proud to extend our longstanding relationship with RTS."
Designed for flexibility and customization, Polycom ATX solutions are standards-based to interoperate with Polycom's full line of immersive, room and personal telepresence solutions, as well as the estimated two million standards-based video conferencing systems in use today and the growing number of standards-based telepresence systems. With Polycom ATX systems, industry leading technology components (codecs, cameras, microphone arrays, software, configuration tools, etc.) are integrated with planning, design, and implementation services from certified integration partners like RTS to streamline the deployment process. For customers, this results in highly customized immersive telepresence solutions that deliver uncompromised video, audio and content quality for effective face-to-face collaboration.
RTS Unicom's core strengths include telecommunications, infrastructure, audiovisual, security and information technology services including a complete after care support and service model.
About RTS Unified Communications
RTS Unified Communications is an industry-certified leading provider of design, engineering, project management, installation, service and support for AV/IT clients. Our core strengths include telecommunications, infrastructure, audiovisual, security and information technology services including a complete after care support and service model. The company is headquartered in New York and has offices in New Jersey, Pennsylvania, Maryland and Colorado. For more information please visit http://www.rtsunicom.com.
About Polycom
Polycom, Inc. (NASDAQ:PLCM) is the global leader in telepresence, video, and voice solutions and a visionary in communications that empower people to connect and collaborate everywhere. Visit http://www.polycom.com for more information and follow us on Twitter @AllAboutPolycom.
© 2010 Polycom, Inc. All rights reserved. POLYCOM®, the Polycom "Triangles" logo and the names and marks associated with Polycom's products are trademarks and/or service marks of Polycom, Inc. and are registered and/or common law marks in the United States and various other countries. All other trademarks are property of their respective owners.
Source: RTS Unified Communications
CONTACT: John J. Pepe, +1-212-869-7144
Web Site: http://www.rtsunicom.com/
Certification recognizes RTS Unicom's expertise in visual communication and audio/visual integration to adapt telepresence for specific environments and applications
NEW YORK, March 2 -- RTS Unified Communications an industry-certified provider of design, engineering, project management, installation, service and support for AV/IT clients. Today announced Telepresence Certification from Polycom, Inc., a leading telepresence and video conferencing equipment manufacturer, as a provider of audio/visual (AV) integration for customized immersive telepresence solutions. The certification enables RTS to leverage a new line of highly adaptable immersive telepresence solutions, Polycom Architected Telepresence Experience(TM) (Polycom ATX) 300, to help organizations customize immersive telepresence for their specific application and space requirements.
"As part of our ongoing expansion, RTS Unified Communications is pleased to offer a full range of UC services, our partnership with Polycom supports our decision to move into this market space," said John J. Pepe, CEO, RTS Unified Communications. "We are very excited to offer our clients a full range of AV / IT services. Our clients clearly have an increasing interest in telepresence and visual communication as a whole; this partnership enhances our ability to meet customer needs."
"Customers are often looking for flexibility to tailor telepresence for very specific requirements," said Ron Myers, vice president of channels at Polycom. "With expertise in visual communication deployments and certification for the new Polycom ATX solutions, RTS offers customers a comprehensive range of Polycom telepresence offerings and services, including the ability to develop specialized solutions for very specific business requirements. We are proud to extend our longstanding relationship with RTS."
Designed for flexibility and customization, Polycom ATX solutions are standards-based to interoperate with Polycom's full line of immersive, room and personal telepresence solutions, as well as the estimated two million standards-based video conferencing systems in use today and the growing number of standards-based telepresence systems. With Polycom ATX systems, industry leading technology components (codecs, cameras, microphone arrays, software, configuration tools, etc.) are integrated with planning, design, and implementation services from certified integration partners like RTS to streamline the deployment process. For customers, this results in highly customized immersive telepresence solutions that deliver uncompromised video, audio and content quality for effective face-to-face collaboration.
RTS Unicom's core strengths include telecommunications, infrastructure, audiovisual, security and information technology services including a complete after care support and service model.
About RTS Unified Communications
RTS Unified Communications is an industry-certified leading provider of design, engineering, project management, installation, service and support for AV/IT clients. Our core strengths include telecommunications, infrastructure, audiovisual, security and information technology services including a complete after care support and service model. The company is headquartered in New York and has offices in New Jersey, Pennsylvania, Maryland and Colorado. For more information please visit http://www.rtsunicom.com.
About Polycom
Polycom, Inc. (NASDAQ:PLCM) is the global leader in telepresence, video, and voice solutions and a visionary in communications that empower people to connect and collaborate everywhere. Visit http://www.polycom.com for more information and follow us on Twitter @AllAboutPolycom.
© 2010 Polycom, Inc. All rights reserved. POLYCOM®, the Polycom "Triangles" logo and the names and marks associated with Polycom's products are trademarks and/or service marks of Polycom, Inc. and are registered and/or common law marks in the United States and various other countries. All other trademarks are property of their respective owners.
Source: RTS Unified Communications
CONTACT: John J. Pepe, +1-212-869-7144
Web Site: http://www.rtsunicom.com/
EMC Announces Authorization of Stock Purchase Program
Poster: SySAdmin
Posted on March 2, 2010 at 3:49:01 PM
EMC Announces Authorization of Stock Purchase Program
Board Authorizes Plan to Purchase VMware Shares to Maintain EMC's Majority Ownership of VMware at Approximately 80%
HOPKINTON, Mass., March 2 -- EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, announced today that its Board of Directors has authorized a stock purchase program to allow the company to make open market purchases of VMware Class A common stock in order to maintain EMC's approximately 80% majority ownership at its current level over the long term.
The stock purchase program underscores VMware's role in EMC's strategic direction and acknowledges VMware's leading position as the global leader in virtualization solutions from the desktop through the data center and to the cloud, and as one of the IT industry's most compelling value propositions.
David Goulden, EMC Executive Vice President and Chief Financial Officer said, "The public offering of VMware's stock has enabled EMC to expose the value of VMware to the public markets, attract and retain the best talent in the industry and continually reinforce VMware's commitment to an open platform strategy. We believe maintaining EMC's ownership level in VMware at approximately 80% allows us to continue to achieve the above objectives while also maximizing value for EMC shareholders over the long term."
For more information about EMC's strategic partnership with VMware and how the two companies help customers on their journey to the private cloud and Virtual Infrastructure deployments, please visit http://www.emc.com/solutions.
About EMC
EMC Corporation (NYSE:EMC) is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at http://www.EMC.com.
EMC is a registered trademark of EMC Corporation. VMware is a registered trademark of VMware, Inc.
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) our ability to protect our proprietary technology; (iv) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; (v) fluctuations in VMware, Inc.'s operating results and risks associated with trading of VMware stock; (vi) competitive factors, including but not limited to pricing pressures and new product introductions; (vii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (viii) component and product quality and availability; (ix) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (x) insufficient, excess or obsolete inventory; (xi) war or acts of terrorism; (xii) the ability to attract and retain highly qualified employees; (xiii) fluctuating currency exchange rates; (xiv) litigation that we may be involved in; and (xv) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.
Source: EMC Corporation
CONTACT: Lesley Ogrodnick, +1-508-293-6961, ogrodnick_lesley@emc.com
Web Site: http://www.emc.com/
Board Authorizes Plan to Purchase VMware Shares to Maintain EMC's Majority Ownership of VMware at Approximately 80%
HOPKINTON, Mass., March 2 -- EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, announced today that its Board of Directors has authorized a stock purchase program to allow the company to make open market purchases of VMware Class A common stock in order to maintain EMC's approximately 80% majority ownership at its current level over the long term.
The stock purchase program underscores VMware's role in EMC's strategic direction and acknowledges VMware's leading position as the global leader in virtualization solutions from the desktop through the data center and to the cloud, and as one of the IT industry's most compelling value propositions.
David Goulden, EMC Executive Vice President and Chief Financial Officer said, "The public offering of VMware's stock has enabled EMC to expose the value of VMware to the public markets, attract and retain the best talent in the industry and continually reinforce VMware's commitment to an open platform strategy. We believe maintaining EMC's ownership level in VMware at approximately 80% allows us to continue to achieve the above objectives while also maximizing value for EMC shareholders over the long term."
For more information about EMC's strategic partnership with VMware and how the two companies help customers on their journey to the private cloud and Virtual Infrastructure deployments, please visit http://www.emc.com/solutions.
About EMC
EMC Corporation (NYSE:EMC) is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at http://www.EMC.com.
EMC is a registered trademark of EMC Corporation. VMware is a registered trademark of VMware, Inc.
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) our ability to protect our proprietary technology; (iv) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; (v) fluctuations in VMware, Inc.'s operating results and risks associated with trading of VMware stock; (vi) competitive factors, including but not limited to pricing pressures and new product introductions; (vii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (viii) component and product quality and availability; (ix) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (x) insufficient, excess or obsolete inventory; (xi) war or acts of terrorism; (xii) the ability to attract and retain highly qualified employees; (xiii) fluctuating currency exchange rates; (xiv) litigation that we may be involved in; and (xv) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.
Source: EMC Corporation
CONTACT: Lesley Ogrodnick, +1-508-293-6961, ogrodnick_lesley@emc.com
Web Site: http://www.emc.com/
Business Telecommunications Spending Will Hit $146 Billion in 2010, Says Insight Research Corp.
Poster: SySAdmin
Posted on March 2, 2010 at 3:28:01 PM
Business Telecommunications Spending Will Hit $146 Billion in 2010, Says Insight Research Corp.
BOONTON, N.J., March 2 -- Despite slowdowns and spending cuts in many industries, overall spending by all U.S. businesses on wired and cellular calling is forecasted to exhibit modest growth over the next five years, says a new market research report from Insight Research. The study predicts that cellular calling will account for nearly 44 percent of the U.S. corporate phone bill for telecommunication services in 2010, and is the only enterprise market segment showing substantial growth.
Insight's newly released market analysis report, "Telecom Services in Vertical Markets, 2009-2014" reveals that wireless service revenues are expected to grow at a compounded rate of nearly 18.4 percent annually from 2009 to 2014, while growth in wired services remains essentially flat. The biggest spenders on cellular services will come from four market segments: construction; financial, insurance, and real estate; professional business services; and transportation.
The study analyzes 14 vertical industries categorized by the NAICS, and focuses on corporate spending for wireline and wireless telecommunications services in each of the 14 industries.
"The year 2009 was all about cut backs and retrenchment in every industry sector we examined," says Robert Rosenberg, President of Insight. "However, it is continued demand for wireless services that will keep the telecom industry in the black over the next five years--and that demand is going to be uneven across the various business sectors," Rosenberg concludes.
An excerpt of this market research report, table of contents, and ordering information are available online: http://www.insight-corp.com/reports/vert09.asp .
This 115-page report is available immediately for $3,995 (hard copy). Electronic (PDF) reports can be ordered online.
*(LOGO 72dpi: Send2Press.com/mediaboom/10-0128-InsightRsc_72dpi.jpg)
This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.send2press.com/
Source: Insight Research Corp.
CONTACT: Ms. Kim Novak, Marketing Director of Insight Research,
+1-973-541-9600, kim@insight-corp.com
Web Site: http://www.insight-corp.com/reports/vert09.asp
BOONTON, N.J., March 2 -- Despite slowdowns and spending cuts in many industries, overall spending by all U.S. businesses on wired and cellular calling is forecasted to exhibit modest growth over the next five years, says a new market research report from Insight Research. The study predicts that cellular calling will account for nearly 44 percent of the U.S. corporate phone bill for telecommunication services in 2010, and is the only enterprise market segment showing substantial growth.
Insight's newly released market analysis report, "Telecom Services in Vertical Markets, 2009-2014" reveals that wireless service revenues are expected to grow at a compounded rate of nearly 18.4 percent annually from 2009 to 2014, while growth in wired services remains essentially flat. The biggest spenders on cellular services will come from four market segments: construction; financial, insurance, and real estate; professional business services; and transportation.
The study analyzes 14 vertical industries categorized by the NAICS, and focuses on corporate spending for wireline and wireless telecommunications services in each of the 14 industries.
"The year 2009 was all about cut backs and retrenchment in every industry sector we examined," says Robert Rosenberg, President of Insight. "However, it is continued demand for wireless services that will keep the telecom industry in the black over the next five years--and that demand is going to be uneven across the various business sectors," Rosenberg concludes.
An excerpt of this market research report, table of contents, and ordering information are available online: http://www.insight-corp.com/reports/vert09.asp .
This 115-page report is available immediately for $3,995 (hard copy). Electronic (PDF) reports can be ordered online.
*(LOGO 72dpi: Send2Press.com/mediaboom/10-0128-InsightRsc_72dpi.jpg)
This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.send2press.com/
Source: Insight Research Corp.
CONTACT: Ms. Kim Novak, Marketing Director of Insight Research,
+1-973-541-9600, kim@insight-corp.com
Web Site: http://www.insight-corp.com/reports/vert09.asp
CodeBaby's 'Dr. Funk' Character Puts the 'Funk' in the Tekno Bubbles' Website
Poster: SySAdmin
Posted on March 2, 2010 at 3:28:01 PM
CodeBaby's 'Dr. Funk' Character Puts the 'Funk' in the Tekno Bubbles' Website
December sales elevated thanks to interactive avatar
COLORADO SPRINGS, Colo., March 2 -- Since the addition of its interactive 3D CodeBaby character "Dr. Funk," Tekno Bubbles has seen a trend on the company's website -- its bubbles sales are taking off. St. Louis-based Tekno Bubbles sells patented, non-toxic blowing bubbles that glow a bright gold or blue under a blacklight. The product, which is most popular around Halloween, can be confusing and hard to understand for prospective customers so the company owner wanted a way to make the information on the Tekno Bubbles website easier to understand.
"I knew about CodeBaby and its interactive avatars and thought that could be a good way to explain our product. I helped create 'Dr. Victor Von Funkalicious,' or 'Dr. Funk' for short, and I love him. He does a great job of explaining Tekno Bubbles in a quick, simple, and cool way that makes it fun for new customers," stated John Reider, Tekno Bubbles Owner.
Dr. Funk's explanation has helped Tekno Bubbles gain popularity and become accepted by a mainstream audience. Now, there's year-round interest from churches, Boy Scout groups, school science fairs, high schools, and university fraternities across the country.
"People love Dr. Funk, and I think it's because he's so unique and different from our other CodeBaby characters. We've seen an 88 percent retention on his opening CodeBaby Conversation, which means nearly every customer is fully engaged and isn't leaving to go to another screen until he's finished talking," says Patrick Bultema, CodeBaby CEO.
Through analytics gathered from December 15, 2009 - January 15, 2010, the results show Dr. Funk's dramatic impact on sales. When Dr. Funk helped check out customers on the site, there was a 16 percent conversion [purchase] rate as opposed to three percent without him.
"Not only have we seen an increase in bubble solution sales, but we have seen an increase in sales for our bubble machines. We're looking forward to see how Dr. Funk affects the site around Halloween, when we're typically the busiest," stated Reider.
Tekno Bubbles and CodeBaby will team up at the upcoming 15th Annual Halloween & Attractions Show on March 25-28, 2010 at the America's Center in St. Louis, Mo. CodeBaby will be showcased in Tekno Bubbles' booth, which will allow customers to experience Tekno Bubbles solution under a blacklight and see "Dr. Funk" and other popular CodeBaby characters and their interactive conversations.
About CodeBaby:
CodeBaby is a privately held company with offices in Colorado Springs, Colo. and Edmonton, Alberta. Its cutting edge technology enables companies to quickly and easily create high-quality, realistic digital character conversations that engage customers to optimize results.
These customized and interactive conversations are creating value for a rapidly growing number of Fortune 500 companies as well as mid-sided web-based businesses. Further, detailed analytics enable companies to track, tune, and optimize the effect of these conversations. Leveraging web-based standards, CodeBaby Conversations are useful across a wide range of applications, including eCommerce, web-based customer service and support, and eLearning. To learn more about CodeBaby, visit http://www.codebaby.com.
About Tekno Bubbles:
Tekno Bubbles are patented, safe non-toxic blowing bubbles that look and act like normal bubbles under regular lighting, yet have a brilliant glow under UV black lit conditions. For more information on this product or to place an order, go to http://www.teknobubbles.com.
MEDIA CONTACT:
Angela Smith, Public Relations Specialist
Angela.Smith@CodeBaby.com
719.387.8358 ext. 106
Source: CodeBaby
CONTACT: Angela Smith, Public Relations Specialist, +1-719-387-8358,
ext. 106, Angela.Smith@CodeBaby.com, for CodeBaby
Web Site: http://www.codebaby.com/
December sales elevated thanks to interactive avatar
COLORADO SPRINGS, Colo., March 2 -- Since the addition of its interactive 3D CodeBaby character "Dr. Funk," Tekno Bubbles has seen a trend on the company's website -- its bubbles sales are taking off. St. Louis-based Tekno Bubbles sells patented, non-toxic blowing bubbles that glow a bright gold or blue under a blacklight. The product, which is most popular around Halloween, can be confusing and hard to understand for prospective customers so the company owner wanted a way to make the information on the Tekno Bubbles website easier to understand.
"I knew about CodeBaby and its interactive avatars and thought that could be a good way to explain our product. I helped create 'Dr. Victor Von Funkalicious,' or 'Dr. Funk' for short, and I love him. He does a great job of explaining Tekno Bubbles in a quick, simple, and cool way that makes it fun for new customers," stated John Reider, Tekno Bubbles Owner.
Dr. Funk's explanation has helped Tekno Bubbles gain popularity and become accepted by a mainstream audience. Now, there's year-round interest from churches, Boy Scout groups, school science fairs, high schools, and university fraternities across the country.
"People love Dr. Funk, and I think it's because he's so unique and different from our other CodeBaby characters. We've seen an 88 percent retention on his opening CodeBaby Conversation, which means nearly every customer is fully engaged and isn't leaving to go to another screen until he's finished talking," says Patrick Bultema, CodeBaby CEO.
Through analytics gathered from December 15, 2009 - January 15, 2010, the results show Dr. Funk's dramatic impact on sales. When Dr. Funk helped check out customers on the site, there was a 16 percent conversion [purchase] rate as opposed to three percent without him.
"Not only have we seen an increase in bubble solution sales, but we have seen an increase in sales for our bubble machines. We're looking forward to see how Dr. Funk affects the site around Halloween, when we're typically the busiest," stated Reider.
Tekno Bubbles and CodeBaby will team up at the upcoming 15th Annual Halloween & Attractions Show on March 25-28, 2010 at the America's Center in St. Louis, Mo. CodeBaby will be showcased in Tekno Bubbles' booth, which will allow customers to experience Tekno Bubbles solution under a blacklight and see "Dr. Funk" and other popular CodeBaby characters and their interactive conversations.
About CodeBaby:
CodeBaby is a privately held company with offices in Colorado Springs, Colo. and Edmonton, Alberta. Its cutting edge technology enables companies to quickly and easily create high-quality, realistic digital character conversations that engage customers to optimize results.
These customized and interactive conversations are creating value for a rapidly growing number of Fortune 500 companies as well as mid-sided web-based businesses. Further, detailed analytics enable companies to track, tune, and optimize the effect of these conversations. Leveraging web-based standards, CodeBaby Conversations are useful across a wide range of applications, including eCommerce, web-based customer service and support, and eLearning. To learn more about CodeBaby, visit http://www.codebaby.com.
About Tekno Bubbles:
Tekno Bubbles are patented, safe non-toxic blowing bubbles that look and act like normal bubbles under regular lighting, yet have a brilliant glow under UV black lit conditions. For more information on this product or to place an order, go to http://www.teknobubbles.com.
MEDIA CONTACT:
Angela Smith, Public Relations Specialist
Angela.Smith@CodeBaby.com
719.387.8358 ext. 106
Source: CodeBaby
CONTACT: Angela Smith, Public Relations Specialist, +1-719-387-8358,
ext. 106, Angela.Smith@CodeBaby.com, for CodeBaby
Web Site: http://www.codebaby.com/
Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.80%, According to Zillow Mortgage Rate Ticker
Poster: SySAdmin
Posted on March 2, 2010 at 3:28:01 PM
Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.80%, According to Zillow Mortgage Rate Ticker
SEATTLE, March 2 -- The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80 percent, down four basis points from 4.84 percent compared to this same time last week. The 30-year fixed mortgage rate peaked at 4.87 percent late last week before hovering below 4.80 percent over the weekend.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for 15-year fixed home loans is currently 4.23 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.57 percent.
The total volume of mortgage requests in the past week was unchanged from the prior week. Of last week's requests, 32.2 percent were for refinance loans, 65.8 percent were for purchase loans and 2.0 percent were for home equity loans. The prior week, 30.2 percent of requests were for refinance loans, 67.7 percent were for purchase loans and 2.1 percent were for home equity loans.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/Mortgage_Rates.
Current
30-Year Last week's
Fixed 30-Year Change in
Rate Fixed Rate Basis
State (3/2/10) (2/23/10) Points
----- -------- ----------- ---------
California
Mortgage
Rates 4.71% 4.82% -11
---------- ---- ---- ---
Colorado
Mortgage
Rates 4.88% 4.92% -4
--------- ---- ---- ---
Florida
Mortgage
Rates 4.79% 4.86% -7
--------- ---- ---- ---
Illinois
Mortgage
Rates 4.79% 4.85% -6
--------- ---- ---- ---
Massachusetts
Mortgage
Rates 4.90% 4.88% +2
------------- ---- ---- ---
New Jersey
Mortgage
Rates 4.86% 4.89% -3
---------- ---- ---- ---
New York
Mortgage
Rates 4.88% 5.00% -12
--------- ---- ---- ---
Pennsylvania
Mortgage
Rates 4.81% 4.78% +3
------------ ---- ---- ---
Texas Mortgage
Rates 4.69% 4.82% -13
-------------- ---- ---- ---
Washington
Mortgage
Rates 4.82% 4.89% -7
---------- ---- ---- ---
About Zillow Mortgage Marketplace
Zillow Mortgage Marketplace is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.
Zillow.com and Zillow are registered trademarks of Zillow, Inc.
Photo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Zillow.com
CONTACT: Katie Curnutte of Zillow.com, +1-206-757-2785,
press@zillow.com
Web Site: http://www.zillow.com/
SEATTLE, March 2 -- The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80 percent, down four basis points from 4.84 percent compared to this same time last week. The 30-year fixed mortgage rate peaked at 4.87 percent late last week before hovering below 4.80 percent over the weekend.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)
Zillow's real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for 15-year fixed home loans is currently 4.23 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.57 percent.
The total volume of mortgage requests in the past week was unchanged from the prior week. Of last week's requests, 32.2 percent were for refinance loans, 65.8 percent were for purchase loans and 2.0 percent were for home equity loans. The prior week, 30.2 percent of requests were for refinance loans, 67.7 percent were for purchase loans and 2.1 percent were for home equity loans.
Below are current rates for 30-year fixed mortgages by state. Additional states' rates are available at: http://www.zillow.com/Mortgage_Rates.
Current
30-Year Last week's
Fixed 30-Year Change in
Rate Fixed Rate Basis
State (3/2/10) (2/23/10) Points
----- -------- ----------- ---------
California
Mortgage
Rates 4.71% 4.82% -11
---------- ---- ---- ---
Colorado
Mortgage
Rates 4.88% 4.92% -4
--------- ---- ---- ---
Florida
Mortgage
Rates 4.79% 4.86% -7
--------- ---- ---- ---
Illinois
Mortgage
Rates 4.79% 4.85% -6
--------- ---- ---- ---
Massachusetts
Mortgage
Rates 4.90% 4.88% +2
------------- ---- ---- ---
New Jersey
Mortgage
Rates 4.86% 4.89% -3
---------- ---- ---- ---
New York
Mortgage
Rates 4.88% 5.00% -12
--------- ---- ---- ---
Pennsylvania
Mortgage
Rates 4.81% 4.78% +3
------------ ---- ---- ---
Texas Mortgage
Rates 4.69% 4.82% -13
-------------- ---- ---- ---
Washington
Mortgage
Rates 4.82% 4.89% -7
---------- ---- ---- ---
About Zillow Mortgage Marketplace
Zillow Mortgage Marketplace is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.
Zillow.com and Zillow are registered trademarks of Zillow, Inc.
Photo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Zillow.com
CONTACT: Katie Curnutte of Zillow.com, +1-206-757-2785,
press@zillow.com
Web Site: http://www.zillow.com/
Just Cause 2 Adds Support for Latest NVIDIA Technologies
Poster: SySAdmin
Posted on March 2, 2010 at 3:28:01 PM
Just Cause 2 Adds Support for Latest NVIDIA Technologies
Support for 3D Vision and advanced hardware shaders amp up PC release
LONDON, March 2 -- Square Enix London Studios, a part of Square Enix Europe, today revealed that the PC release of Just Cause® 2 will feature a suite of advanced graphical enhancements supported by NVIDIA® GPUs, including next-generation lighting and water routines and full support for 3D Vision, adding further immersion into the graphically rich game.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030403/SQUARELOGO)
Working closely with engineers at NVIDIA, developer Avalanche Studios has incorporated support for NVIDIA CUDA technology which helps to deliver a higher level of visual fidelity within the game's environments. CUDA-enhanced features in Just Cause 2 include incredible in-game effects, with rivers, lakes and oceans beautifully rendered with realistic rising swells, flowing waves and ripples, while advanced photographic Bokeh lens techniques add an additional cinematic quality to the look and feel of the game. Just Cause 2 has also been optimised to take full advantage of NVIDIA 3D Vision technology on compatible hardware, creating an incredibly immersive 3D experience.
"Just Cause 2 is one of the most visually advanced PC titles ever created," said Lee Singleton, General Manager of Square Enix London Studios. "Working closely with NVIDIA has enabled us to add support for some of the latest PC technologies and help make Just Cause 2 one unforgettable experience."
As Rico Rodriguez, the Agency's most powerful weapon, players must take on the island of Panau and its military regime in order to track down Rico's former boss and mentor, Tom Sheldon, who has gone rogue with millions in Agency cash and intel. Using a unique grapple and parachute combination, there is no vertical limit as the air becomes your playground: grapple a passing plane in flight, hijack helicopters, BASE jump from the tallest buildings or mountains and leave a trail of chaos and destruction in your wake. Just Cause 2 offers players the freedom to tackle missions any way they choose and, with over 100 vehicles and countless upgrades and collectibles, the choices for relentless adrenaline-fuelled action are limitless.
Just Cause 2 will be available for the, Xbox 360® video game and entertainment system from Microsoft, Windows PC and PlayStation®3 computer entertainment system and will be released under the EIDOS® brand portfolio. All formats will release in-stores on March 23rd, 2010, in North America and March 26th, 2010, in Europe, Middle East, and Australasia. More information is available on the official website at http://www.justcause.com.
About Square Enix Ltd.
Square Enix Ltd., a part of the Square Enix Europe business unit, is a London-based wholly-owned subsidiary of Square Enix Holdings Co., Ltd., one of the most influential providers of digital entertainment content in the world. Square Enix Ltd. publishes and distributes entertainment content from the Square Enix Group including Square Enix, Eidos and Taito® in Europe and other PAL territories. Square Enix Ltd. also has a global network of leading development studios such as IO Interactive(TM), Crystal Dynamics® and Eidos-Montreal. The Square Enix Group boasts a valuable portfolio of intellectual property including: FINAL FANTASY®, which has sold over 92 million units worldwide, DRAGON QUEST® which has sold over 53 million units worldwide and TOMB RAIDER® which has sold over 35 million units worldwide, together with other well established products.
More information on Square Enix Ltd. can be found on the Internet at http://www.square-enix.com/
DRAGON QUEST, FINAL FANTASY, SQUARE ENIX and the SQUARE ENIX logo are registered trademarks of Square Enix Holdings Co., Ltd. in the United States and/or other countries. TAITO is a trademark or registered trademark of Taito Corporation. EIDOS, TOMB RAIDER, IO INTERACTIVE, JUST CAUSE and CRYSTAL DYNAMICS are trademarks or registered trademarks of Square Enix Ltd. AVALANCHE STUDIOS is a trademark of Fatalist Entertainment AB. NVIDIA is a registered trademark of NVIDIA Corporation. PlayStation is a registered trademark of Sony Computer Entertainment, Inc. Xbox 360 is a registered trademark of Microsoft Corporation. All other trademarks are the property of their respective owners.
Square Enix Limited is a company registered in England & Wales under the number 1804186 whose registered office is Wimbledon Bridge House, 1 Hartfield Road, Wimbledon, London, SW19 3RU
Photo: http://www.newscom.com/cgi-bin/prnh/20030403/SQUARELOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Square Enix London Studios
CONTACT: Rob Fleischer or John Kopp, both of SandBox Strategies,
+1-212-213-2451, JC2@sandboxstrat.com
Web Site: http://www.square-enix.com/
http://www.justcause.com/
Support for 3D Vision and advanced hardware shaders amp up PC release
LONDON, March 2 -- Square Enix London Studios, a part of Square Enix Europe, today revealed that the PC release of Just Cause® 2 will feature a suite of advanced graphical enhancements supported by NVIDIA® GPUs, including next-generation lighting and water routines and full support for 3D Vision, adding further immersion into the graphically rich game.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030403/SQUARELOGO)
Working closely with engineers at NVIDIA, developer Avalanche Studios has incorporated support for NVIDIA CUDA technology which helps to deliver a higher level of visual fidelity within the game's environments. CUDA-enhanced features in Just Cause 2 include incredible in-game effects, with rivers, lakes and oceans beautifully rendered with realistic rising swells, flowing waves and ripples, while advanced photographic Bokeh lens techniques add an additional cinematic quality to the look and feel of the game. Just Cause 2 has also been optimised to take full advantage of NVIDIA 3D Vision technology on compatible hardware, creating an incredibly immersive 3D experience.
"Just Cause 2 is one of the most visually advanced PC titles ever created," said Lee Singleton, General Manager of Square Enix London Studios. "Working closely with NVIDIA has enabled us to add support for some of the latest PC technologies and help make Just Cause 2 one unforgettable experience."
As Rico Rodriguez, the Agency's most powerful weapon, players must take on the island of Panau and its military regime in order to track down Rico's former boss and mentor, Tom Sheldon, who has gone rogue with millions in Agency cash and intel. Using a unique grapple and parachute combination, there is no vertical limit as the air becomes your playground: grapple a passing plane in flight, hijack helicopters, BASE jump from the tallest buildings or mountains and leave a trail of chaos and destruction in your wake. Just Cause 2 offers players the freedom to tackle missions any way they choose and, with over 100 vehicles and countless upgrades and collectibles, the choices for relentless adrenaline-fuelled action are limitless.
Just Cause 2 will be available for the, Xbox 360® video game and entertainment system from Microsoft, Windows PC and PlayStation®3 computer entertainment system and will be released under the EIDOS® brand portfolio. All formats will release in-stores on March 23rd, 2010, in North America and March 26th, 2010, in Europe, Middle East, and Australasia. More information is available on the official website at http://www.justcause.com.
About Square Enix Ltd.
Square Enix Ltd., a part of the Square Enix Europe business unit, is a London-based wholly-owned subsidiary of Square Enix Holdings Co., Ltd., one of the most influential providers of digital entertainment content in the world. Square Enix Ltd. publishes and distributes entertainment content from the Square Enix Group including Square Enix, Eidos and Taito® in Europe and other PAL territories. Square Enix Ltd. also has a global network of leading development studios such as IO Interactive(TM), Crystal Dynamics® and Eidos-Montreal. The Square Enix Group boasts a valuable portfolio of intellectual property including: FINAL FANTASY®, which has sold over 92 million units worldwide, DRAGON QUEST® which has sold over 53 million units worldwide and TOMB RAIDER® which has sold over 35 million units worldwide, together with other well established products.
More information on Square Enix Ltd. can be found on the Internet at http://www.square-enix.com/
DRAGON QUEST, FINAL FANTASY, SQUARE ENIX and the SQUARE ENIX logo are registered trademarks of Square Enix Holdings Co., Ltd. in the United States and/or other countries. TAITO is a trademark or registered trademark of Taito Corporation. EIDOS, TOMB RAIDER, IO INTERACTIVE, JUST CAUSE and CRYSTAL DYNAMICS are trademarks or registered trademarks of Square Enix Ltd. AVALANCHE STUDIOS is a trademark of Fatalist Entertainment AB. NVIDIA is a registered trademark of NVIDIA Corporation. PlayStation is a registered trademark of Sony Computer Entertainment, Inc. Xbox 360 is a registered trademark of Microsoft Corporation. All other trademarks are the property of their respective owners.
Square Enix Limited is a company registered in England & Wales under the number 1804186 whose registered office is Wimbledon Bridge House, 1 Hartfield Road, Wimbledon, London, SW19 3RU
Photo: http://www.newscom.com/cgi-bin/prnh/20030403/SQUARELOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Square Enix London Studios
CONTACT: Rob Fleischer or John Kopp, both of SandBox Strategies,
+1-212-213-2451, JC2@sandboxstrat.com
Web Site: http://www.square-enix.com/
http://www.justcause.com/
SpectraCal Announces Formation of Sales Group in South Dakota
Poster: SySAdmin
Posted on March 2, 2010 at 3:21:01 PM
SpectraCal Announces Formation of Sales Group in South Dakota
LONG-TIME INDUSTRY VETERAN JEFF MURRAY TO LEAD SALES GROUP
SIOUX FALLS, S.D., March 2 -- SpectraCal, the award winning inventors of CalMAN Video Calibration Software, opened a Professional Sales group in Sioux Falls, SD today.
The sales organization is headed by Jeff Murray, a leading figure in the professional video calibration industry for more than a decade. "Jeff has been one of the key people in the creation of this industry," said Joel Silver, President of the Imaging Science Foundation. "He has been working side by side with us since the beginning, has supported the industry with generous volunteer work, and we're proud to continue working with him now."
Silver also praised the team of professionals Murray brings with him. The new group includes software engineering facilities in Seattle (SpectraCal), hardware engineering in Sioux Falls (AV Foundry), and eight Sales, Marketing, Training and Support (SpectraCal Sales) in Sioux Falls. This group brings talented personnel with over 100 years of combined experience to address the ever changing needs of these dynamic video markets.
"SpectraCal Sales' team of sales, applications, and support professionals have proved themselves through years of superb service. I believe 2010 will be the most critical year ever for calibrator support, since our research on LEDs shows the majority of current meters can simply be upgraded, not replaced," Silver said.
"We will support everyone in this industry," Murray promised. "Whoever you bought your meter or your software from, you can call SpectraCal when you need support," he said.
Derek Smith, CEO of the SpectraCal group, pointed to the group's strong relationship with world class manufacturers. "We are uniquely positioned to offer instrumentation from several world class manufacturers including X-Rite, Klein Instruments, Konica Minolta, and many others." CalMAN today supports over 40 color analyzers and even more pattern generators.
"We want to support the video professional every way we can," Murray explained. "And not just with technical training. We will work to provide professional development assistance, business education, and everything a calibrator needs to be successful."
The entire SpectraCal group will be present in full force at Electronic House Expo (EHX) in Orlando, Florida later this month (March 25-27).
Source: SpectraCal
CONTACT: Joshua Quain of SpectraCal, LLC, +1-425-471-3003,
Joshua@SpectraCal.com, or Sioux Falls Office of SpectraCal, +1-605-274-6055,
or 1-877-886-5112, jeff@spectracal.com
Web Site: http://www.spectracal.com/
LONG-TIME INDUSTRY VETERAN JEFF MURRAY TO LEAD SALES GROUP
SIOUX FALLS, S.D., March 2 -- SpectraCal, the award winning inventors of CalMAN Video Calibration Software, opened a Professional Sales group in Sioux Falls, SD today.
The sales organization is headed by Jeff Murray, a leading figure in the professional video calibration industry for more than a decade. "Jeff has been one of the key people in the creation of this industry," said Joel Silver, President of the Imaging Science Foundation. "He has been working side by side with us since the beginning, has supported the industry with generous volunteer work, and we're proud to continue working with him now."
Silver also praised the team of professionals Murray brings with him. The new group includes software engineering facilities in Seattle (SpectraCal), hardware engineering in Sioux Falls (AV Foundry), and eight Sales, Marketing, Training and Support (SpectraCal Sales) in Sioux Falls. This group brings talented personnel with over 100 years of combined experience to address the ever changing needs of these dynamic video markets.
"SpectraCal Sales' team of sales, applications, and support professionals have proved themselves through years of superb service. I believe 2010 will be the most critical year ever for calibrator support, since our research on LEDs shows the majority of current meters can simply be upgraded, not replaced," Silver said.
"We will support everyone in this industry," Murray promised. "Whoever you bought your meter or your software from, you can call SpectraCal when you need support," he said.
Derek Smith, CEO of the SpectraCal group, pointed to the group's strong relationship with world class manufacturers. "We are uniquely positioned to offer instrumentation from several world class manufacturers including X-Rite, Klein Instruments, Konica Minolta, and many others." CalMAN today supports over 40 color analyzers and even more pattern generators.
"We want to support the video professional every way we can," Murray explained. "And not just with technical training. We will work to provide professional development assistance, business education, and everything a calibrator needs to be successful."
The entire SpectraCal group will be present in full force at Electronic House Expo (EHX) in Orlando, Florida later this month (March 25-27).
Source: SpectraCal
CONTACT: Joshua Quain of SpectraCal, LLC, +1-425-471-3003,
Joshua@SpectraCal.com, or Sioux Falls Office of SpectraCal, +1-605-274-6055,
or 1-877-886-5112, jeff@spectracal.com
Web Site: http://www.spectracal.com/
Jingwei International Appoints Yong Xu as Chief Financial Officer
Poster: SySAdmin
Posted on March 2, 2010 at 3:14:01 PM
Jingwei International Appoints Yong Xu as Chief Financial Officer
Appointment strengthens Company's Finance and Accounting capabilities
SHENZHEN, China, March 2 -- Jingwei International Limited (OTC Bulletin Board: JNGW; "Jingwei"), today announced the appointment of Yong Xu, CPA & CFA charter holder, as Chief Financial Officer, effective February 23, 2010.
Mr. Xu is a Certified Public Accountant (CPA) and a CFA Charter Holder in the US. He brings to Jingwei over 10 years of senior financial planning and accounting management, investment analysis, and financial audit experience in multi-national companies in the US and in China. Prior to joining Jingwei, Mr. Xu was VP and CFO of CNC Development Ltd. (OTC Bulletin Board: CDLVF; "CNC"), an emerging leader in the planning, construction and financing of urban infrastructure projects in China from August 2008 to January 2010. In this position, Mr. Xu led CNC's predecessor Sing Kung Ltd. to merge with InterAmerican Acquisition Group Inc, resulting in the merged company trading on the OTC Bulletin Board in September 2009. Prior to CNC Development Ltd., he served as a senior financial executive at GWA Capital Partners LLC. (an investment hedge fund) in California from June 2007 to July 2008. Mr. Xu's other experience includes serving as the lead auditor in a number of public company client engagements in the Los Angeles office of Deloitte & Touche LLP. Prior to that, Mr. Xu was an Accounting Supervisor for Metro-Goldwyn-Mayer, Inc. in Los Angeles.
Mr. Xu holds an MBA in Finance from Pepperdine University in the US and a BA degree in Economics from Shanghai International Studies University in China.
Commenting on the announcement, Mr. Rick Luk, CEO of Jingwei International said: "We are delighted to have someone with Mr. Xu's experience and credentials to join our team to lead and manage the finance and investor relations functions of our Company. We believe Mr. Xu's experience in the capital markets, working with public companies as well as his diverse background in finance and accounting, audit and equity analysis will be an asset as we continue to evolve and grow our business to bring values to our shareholders."
About Jingwei International
Jingwei International Limited("Jingwei") is a leading provider of data-mining, Interactive Marketing Services and Mobile Internet marketing solutions in the fast growing Chinese market. Powered by advanced data mining technology and a proprietary database of over 400 million Chinese consumers, Jingwei enables leading Chinese companies as well as international brands to reach their target audiences. The Company's products and services include software services and system integration, data mining and business intelligence services, interactive marketing, mobile internet marketing ,wireless VAS and Mobile Products. Jingwei is evolving into a dominant player in interactive marketing services and mobile internet marketing solutions in China.
For more information, please visit the Company's web site: http://www.jingweicom.com/ .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the global financial crisis, effects of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Yong Xu or Vanessa Bao
Tel: +86-755-8631-9436
Email: vanessa@jingweicom.com
Source: Jingwei International Limited
CONTACT: Yong Xu or Vanessa Bao, +86-755-8631-9436, or
vanessa@jingweicom.com
Web site: http://www.jingweicom.com/
Appointment strengthens Company's Finance and Accounting capabilities
SHENZHEN, China, March 2 -- Jingwei International Limited (OTC Bulletin Board: JNGW; "Jingwei"), today announced the appointment of Yong Xu, CPA & CFA charter holder, as Chief Financial Officer, effective February 23, 2010.
Mr. Xu is a Certified Public Accountant (CPA) and a CFA Charter Holder in the US. He brings to Jingwei over 10 years of senior financial planning and accounting management, investment analysis, and financial audit experience in multi-national companies in the US and in China. Prior to joining Jingwei, Mr. Xu was VP and CFO of CNC Development Ltd. (OTC Bulletin Board: CDLVF; "CNC"), an emerging leader in the planning, construction and financing of urban infrastructure projects in China from August 2008 to January 2010. In this position, Mr. Xu led CNC's predecessor Sing Kung Ltd. to merge with InterAmerican Acquisition Group Inc, resulting in the merged company trading on the OTC Bulletin Board in September 2009. Prior to CNC Development Ltd., he served as a senior financial executive at GWA Capital Partners LLC. (an investment hedge fund) in California from June 2007 to July 2008. Mr. Xu's other experience includes serving as the lead auditor in a number of public company client engagements in the Los Angeles office of Deloitte & Touche LLP. Prior to that, Mr. Xu was an Accounting Supervisor for Metro-Goldwyn-Mayer, Inc. in Los Angeles.
Mr. Xu holds an MBA in Finance from Pepperdine University in the US and a BA degree in Economics from Shanghai International Studies University in China.
Commenting on the announcement, Mr. Rick Luk, CEO of Jingwei International said: "We are delighted to have someone with Mr. Xu's experience and credentials to join our team to lead and manage the finance and investor relations functions of our Company. We believe Mr. Xu's experience in the capital markets, working with public companies as well as his diverse background in finance and accounting, audit and equity analysis will be an asset as we continue to evolve and grow our business to bring values to our shareholders."
About Jingwei International
Jingwei International Limited("Jingwei") is a leading provider of data-mining, Interactive Marketing Services and Mobile Internet marketing solutions in the fast growing Chinese market. Powered by advanced data mining technology and a proprietary database of over 400 million Chinese consumers, Jingwei enables leading Chinese companies as well as international brands to reach their target audiences. The Company's products and services include software services and system integration, data mining and business intelligence services, interactive marketing, mobile internet marketing ,wireless VAS and Mobile Products. Jingwei is evolving into a dominant player in interactive marketing services and mobile internet marketing solutions in China.
For more information, please visit the Company's web site: http://www.jingweicom.com/ .
Safe Harbor Statement
Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the global financial crisis, effects of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact:
Yong Xu or Vanessa Bao
Tel: +86-755-8631-9436
Email: vanessa@jingweicom.com
Source: Jingwei International Limited
CONTACT: Yong Xu or Vanessa Bao, +86-755-8631-9436, or
vanessa@jingweicom.com
Web site: http://www.jingweicom.com/
Symstream Today Announced the Appointment of Joseph de Pedro as Managing Director / Chief Executive Officer (CEO)
Poster: SySAdmin
Posted on March 2, 2010 at 3:07:01 PM
Symstream Today Announced the Appointment of Joseph de Pedro as Managing Director / Chief Executive Officer (CEO)
MELBOURNE, Australia,, March 2 -- The Board of Symstream Technology Group Ltd is pleased to announce that Mr. Joseph de Pedro has been selected as Managing Director / CEO of Symstream Technology Group Ltd. This appointment will take effect immediately.
Joseph has had over twenty five years experience in the Systems Engineering in the Telecommunications industry and the running of successful companies in Europe and Latin America. He founded OMNILOGIC Telecommunications S.A. in 1988 and successfully managed and grew the business. The company supplies and implements turnkey telecommunication projects, Professional Mobile Radio Systems, Transmission Systems, and Network Management Systems, in Spain, Finland, Chile, Argentina, Mexico, Peru and Brazil. Today the company is part of the EMTE Group with consolidated Net Sales of 720 million Euros and employs over 4,200 people.
Joseph was born in Madrid but raised and educated in Melbourne, Australia. He holds a Degree in Industrial Engineering and is a graduate of the Royal Melbourne Institute of Technology (RMIT) with diplomas in Mechanical Design Drafting as well as Business Management.
Symstream is extremely fortunate to have an individual of Joseph de Pedro's calibre and experience to work with our team and fulfil this pivotal role. Joseph is a highly respected and a successful leader. He brings a great depth of experience across multiple industries. Joseph provides Symstream with global management experience as well as business development for the Symstream group. With continued expansion of the addressable market, Joseph's skills, together with the able support from an excellent management team and staff, make him well placed to help Symstream achieve its goals in the coming years. Under Joseph's leadership, Symstream is expected to deliver consistent revenue and margin growth.
Symstream's team look forward to working with him to further grow and develop the Symstream businesses.
About Symstream Technology Group Ltd
The Symstream Technology Group is a premier technology company focused on delivering innovative state of the art wireless solutions. The company is committed to improving clients' business operations across multiple industries and help them achieve extreme security and lowering their costs of operations.
Symstream is committed to the development and manufacturing of wireless data transmission solutions based on international mobile wireless standards on existing public mobile networks. The latest product offerings from the company are based on architectures that are highly secure, robust and cost effective and these end-to-end transparent data solutions operate over GSM networks with a uniform global coverage in over 210 countries.
The Group is a global company in reach with sales offices throughout Asia Pacific and India as well as the United States and Australia. The Group plans on opening operations in Europe and Latin America. The company's technology is currently being deployed in these regions and the company is rapidly developing a reputation for delivering innovative, world class, mature technologies and solutions.
Based on patented, proprietary technology, the unique company's protocol enables multi-dimensional symbols to be transmitted via any communication medium, whether it is wireless, wire-line or optical with higher performance than is available with other data transmission protocols. The company has developed this technology from original concept through to finished product.
For more information, please visit http://www.symstream.com
Symstream(TM) is a trademark of Symstream Technology Group Ltd. All other company or product names are trademarks of their respective holders.
For further information, please contact:
Asti Saraswati Joseph de Pedro
Communication Group Managing Director and C.E.O.
Symstream Technology Group Ltd. Symstream Technology Group Ltd.
Phone: +613 9568 2622 Phone: +613 9568 2622
asti.saraswati@symstream.comjoseph.depedro@symstream.com
Source: Symstream Technology Group Ltd
CONTACT: Asti Saraswati, asti.saraswati@symstream.com, Joseph de Pedro,
Managing Director, C.E.O., joseph.depedro@symstream.com, +1-613-9568 2622
MELBOURNE, Australia,, March 2 -- The Board of Symstream Technology Group Ltd is pleased to announce that Mr. Joseph de Pedro has been selected as Managing Director / CEO of Symstream Technology Group Ltd. This appointment will take effect immediately.
Joseph has had over twenty five years experience in the Systems Engineering in the Telecommunications industry and the running of successful companies in Europe and Latin America. He founded OMNILOGIC Telecommunications S.A. in 1988 and successfully managed and grew the business. The company supplies and implements turnkey telecommunication projects, Professional Mobile Radio Systems, Transmission Systems, and Network Management Systems, in Spain, Finland, Chile, Argentina, Mexico, Peru and Brazil. Today the company is part of the EMTE Group with consolidated Net Sales of 720 million Euros and employs over 4,200 people.
Joseph was born in Madrid but raised and educated in Melbourne, Australia. He holds a Degree in Industrial Engineering and is a graduate of the Royal Melbourne Institute of Technology (RMIT) with diplomas in Mechanical Design Drafting as well as Business Management.
Symstream is extremely fortunate to have an individual of Joseph de Pedro's calibre and experience to work with our team and fulfil this pivotal role. Joseph is a highly respected and a successful leader. He brings a great depth of experience across multiple industries. Joseph provides Symstream with global management experience as well as business development for the Symstream group. With continued expansion of the addressable market, Joseph's skills, together with the able support from an excellent management team and staff, make him well placed to help Symstream achieve its goals in the coming years. Under Joseph's leadership, Symstream is expected to deliver consistent revenue and margin growth.
Symstream's team look forward to working with him to further grow and develop the Symstream businesses.
About Symstream Technology Group Ltd
The Symstream Technology Group is a premier technology company focused on delivering innovative state of the art wireless solutions. The company is committed to improving clients' business operations across multiple industries and help them achieve extreme security and lowering their costs of operations.
Symstream is committed to the development and manufacturing of wireless data transmission solutions based on international mobile wireless standards on existing public mobile networks. The latest product offerings from the company are based on architectures that are highly secure, robust and cost effective and these end-to-end transparent data solutions operate over GSM networks with a uniform global coverage in over 210 countries.
The Group is a global company in reach with sales offices throughout Asia Pacific and India as well as the United States and Australia. The Group plans on opening operations in Europe and Latin America. The company's technology is currently being deployed in these regions and the company is rapidly developing a reputation for delivering innovative, world class, mature technologies and solutions.
Based on patented, proprietary technology, the unique company's protocol enables multi-dimensional symbols to be transmitted via any communication medium, whether it is wireless, wire-line or optical with higher performance than is available with other data transmission protocols. The company has developed this technology from original concept through to finished product.
For more information, please visit http://www.symstream.com
Symstream(TM) is a trademark of Symstream Technology Group Ltd. All other company or product names are trademarks of their respective holders.
For further information, please contact:
Asti Saraswati Joseph de Pedro
Communication Group Managing Director and C.E.O.
Symstream Technology Group Ltd. Symstream Technology Group Ltd.
Phone: +613 9568 2622 Phone: +613 9568 2622
asti.saraswati@symstream.comjoseph.depedro@symstream.com
Source: Symstream Technology Group Ltd
CONTACT: Asti Saraswati, asti.saraswati@symstream.com, Joseph de Pedro,
Managing Director, C.E.O., joseph.depedro@symstream.com, +1-613-9568 2622
WPCS Announces Date for Release of FY2010 Third Quarter Financial Results
Poster: SySAdmin
Posted on March 2, 2010 at 2:56:01 PM
WPCS Announces Date for Release of FY2010 Third Quarter Financial Results
EXTON, Pa., March 2 -- WPCS International Incorporated (NASDAQ:WPCS), a leader in design-build engineering services for communications infrastructure, has announced that it will issue its FY2010 third quarter financial results on Wednesday, March 17, 2010 after the market closes to be followed by a conference call scheduled for 5:00 pm ET.
The financial results are for the third quarter and nine month period ended January 31, 2010. To participate on the conference call, please dial 888-299-4099 for calls within the U.S. and 302-709-8337 for calls from international locations. Upon reaching the operator, use VH58841 as the verbal pass code.
Andrew Hidalgo, CEO of WPCS, will be discussing the company's financial results, market conditions and strategic outlook. When the overview concludes, you can be placed into the queue for questions by pressing *1 and can be removed from the queue by pressing the # sign. Replays of the conference call will be available for a period of five days by dialing 402-220-2946 and entering 58841# as the program identification number.
About WPCS International Incorporated:
WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit http://www.wpcs.com
Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.
CONTACT:
WPCS International Incorporated
610-903-0400 x101
ir@wpcs.com
Source: WPCS International Incorporated
CONTACT: WPCS International Incorporated, +1-610-903-0400 x101,
ir@wpcs.com
Web Site: http://www.wpcs.com/
EXTON, Pa., March 2 -- WPCS International Incorporated (NASDAQ:WPCS), a leader in design-build engineering services for communications infrastructure, has announced that it will issue its FY2010 third quarter financial results on Wednesday, March 17, 2010 after the market closes to be followed by a conference call scheduled for 5:00 pm ET.
The financial results are for the third quarter and nine month period ended January 31, 2010. To participate on the conference call, please dial 888-299-4099 for calls within the U.S. and 302-709-8337 for calls from international locations. Upon reaching the operator, use VH58841 as the verbal pass code.
Andrew Hidalgo, CEO of WPCS, will be discussing the company's financial results, market conditions and strategic outlook. When the overview concludes, you can be placed into the queue for questions by pressing *1 and can be removed from the queue by pressing the # sign. Replays of the conference call will be available for a period of five days by dialing 402-220-2946 and entering 58841# as the program identification number.
About WPCS International Incorporated:
WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit http://www.wpcs.com
Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.
CONTACT:
WPCS International Incorporated
610-903-0400 x101
ir@wpcs.com
Source: WPCS International Incorporated
CONTACT: WPCS International Incorporated, +1-610-903-0400 x101,
ir@wpcs.com
Web Site: http://www.wpcs.com/
Excel4apps Earns Certified Partner Status in Microsoft Partner Program
Poster: SySAdmin
Posted on March 2, 2010 at 2:49:01 PM
Excel4apps Earns Certified Partner Status in Microsoft Partner Program
RALEIGH, N.C., March 2 -- Excel4apps, a provider of best-in-class Excel based solutions for Oracle and SAP users, today announced it has earned Certified Partner status in the Microsoft Partner Program, which recognizes Excel4apps' expertise and impact in the technology marketplace. As a Certified Partner, Excel4apps has demonstrated expertise with Microsoft technologies and proven ability to meet customer needs. Microsoft Certified Partners receive a rich set of benefits, including access, training and support, giving them a competitive advantage in the marketplace.
Excel4apps is a provider of best-in-class Excel based reporting software to thousands of Oracle and SAP users. Its award winning GL Wand products help Oracle and SAP financial professionals save time by delivering accurate and secure information in the familiar Excel environment. The company serves a broad range of industries, including financial services, education, utilities, insurance, hospitality, manufacturing and engineering.
"Only companies that have demonstrated high levels of customer service, proved their experience and attained advanced certification receive the designation of Microsoft Certified Partner," said Allison Watson, corporate vice president of Worldwide Partner Group at Microsoft Corp. "Today, Microsoft recognizes Excel4apps for its skills and expertise in providing customer satisfaction with Microsoft products and technology."
As one of the requirements for earning Certified Partner status, Excel4apps has declared a Microsoft Competency. Microsoft Competencies are designed to help differentiate a partner's capabilities with specific Microsoft technologies to customers looking for a particular type of solution. Each competency has a unique set of requirements and benefits, formulated to accurately represent the specific skills and services that partners bring to the technology industry.
The ISV/Software Solutions Competency recognizes the skill and focus partners bring to a particular solution set. Microsoft Gold Certified Partners that have obtained this competency have a successful record of developing and marketing packed software based on Microsoft technologies.
"We are extremely pleased to have earned Certified Partner status in the Microsoft Partner Program. This allows us to clearly promote our expertise and relationship with Microsoft to our customers," said Michele Buson, Global Sales & Marketing Director. "The benefits provided through our Certified Partner status will allow us to continue to enhance the offerings that we provide for customers."
The Microsoft Partner Program was launched in October 2003 and represents Microsoft's ongoing commitment to the success of partners worldwide. The program offers a single, integrated partnering framework that recognizes partner expertise, rewards the total impact that partners have in the technology marketplace, and delivers more value to help partners' businesses be successful.
Excel4apps maintains offices in the United States, United Kingdom, Australia, United Arab Emirates and South Africa and services customers in all regions. All products are available for immediate download and free trial, installing in minutes with no data warehouse and no additional hardware, setup or security configuration needed. Please visit http://www.excel4apps.com to download a free trial of GL Wand.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Source: Excel4apps
CONTACT: Monica Shaw, Carabiner Communications, +1-770-367-9534,
mshaw@carabinerpr.com
Web Site: http://www.excel4apps.com/
RALEIGH, N.C., March 2 -- Excel4apps, a provider of best-in-class Excel based solutions for Oracle and SAP users, today announced it has earned Certified Partner status in the Microsoft Partner Program, which recognizes Excel4apps' expertise and impact in the technology marketplace. As a Certified Partner, Excel4apps has demonstrated expertise with Microsoft technologies and proven ability to meet customer needs. Microsoft Certified Partners receive a rich set of benefits, including access, training and support, giving them a competitive advantage in the marketplace.
Excel4apps is a provider of best-in-class Excel based reporting software to thousands of Oracle and SAP users. Its award winning GL Wand products help Oracle and SAP financial professionals save time by delivering accurate and secure information in the familiar Excel environment. The company serves a broad range of industries, including financial services, education, utilities, insurance, hospitality, manufacturing and engineering.
"Only companies that have demonstrated high levels of customer service, proved their experience and attained advanced certification receive the designation of Microsoft Certified Partner," said Allison Watson, corporate vice president of Worldwide Partner Group at Microsoft Corp. "Today, Microsoft recognizes Excel4apps for its skills and expertise in providing customer satisfaction with Microsoft products and technology."
As one of the requirements for earning Certified Partner status, Excel4apps has declared a Microsoft Competency. Microsoft Competencies are designed to help differentiate a partner's capabilities with specific Microsoft technologies to customers looking for a particular type of solution. Each competency has a unique set of requirements and benefits, formulated to accurately represent the specific skills and services that partners bring to the technology industry.
The ISV/Software Solutions Competency recognizes the skill and focus partners bring to a particular solution set. Microsoft Gold Certified Partners that have obtained this competency have a successful record of developing and marketing packed software based on Microsoft technologies.
"We are extremely pleased to have earned Certified Partner status in the Microsoft Partner Program. This allows us to clearly promote our expertise and relationship with Microsoft to our customers," said Michele Buson, Global Sales & Marketing Director. "The benefits provided through our Certified Partner status will allow us to continue to enhance the offerings that we provide for customers."
The Microsoft Partner Program was launched in October 2003 and represents Microsoft's ongoing commitment to the success of partners worldwide. The program offers a single, integrated partnering framework that recognizes partner expertise, rewards the total impact that partners have in the technology marketplace, and delivers more value to help partners' businesses be successful.
Excel4apps maintains offices in the United States, United Kingdom, Australia, United Arab Emirates and South Africa and services customers in all regions. All products are available for immediate download and free trial, installing in minutes with no data warehouse and no additional hardware, setup or security configuration needed. Please visit http://www.excel4apps.com to download a free trial of GL Wand.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Source: Excel4apps
CONTACT: Monica Shaw, Carabiner Communications, +1-770-367-9534,
mshaw@carabinerpr.com
Web Site: http://www.excel4apps.com/