Companies news of 2008-05-13 (page 1)
Intrusion Inc. Books $1,250,000 of TraceCop(TM) Orders
Intrusion Inc. Announces First Quarter Results
Sam Westover to Serve as Chairman of the Board and Chief Executive Officer for Sonic...
More Points Equals Faster RewardsGuests Can Earn an Extra 1,000 Points this Summer with...
McClatchy Declares Second Quarter 2008 Dividend
Presentation by Limelight Networks Chief Financial Officer Matt Hale at FBR Capital...
Update: Microsoft Announces U.S. Availability of Citizen Services 'E-Government'Platform...
Comcast Announces Webcast of Annual Meeting of Shareholders
KOCH Records Signs Long Term Agreement with Play MPE(R)Largest Independently Distributed...
Gameloft annonce TV Show King en exclusivité pour WiiWare
Media General Completes Sale of WTVQ-TV in Lexington, Ky., to Morris Network, Inc.
CGI Announces the Product Launch of CGI Edge(TM)Stock Market Symbols GIB.A (TSX) GIB...
Belo Holds Annual Meeting of ShareholdersRe-Elects Three Members to its Board of Directors...
NVIDIA Announces Upcoming Schedule of Events With the Financial Community
Siemens PLM Software: Key Milestones Achieved During Its First YearNew Reports from...
Marion, Massachusetts Residents to Benefit From Verizon Wireless Network...
VUANCE's Clarity/Insignia Solutions Provide Cost-Effective Electronic Access Control for...
Rockford Corporation Announces Repurchase of a Portion of Outstanding Convertible Notes...
Performance Technologies Expands International Signalling Reach with Bakcell Limited in...
Roper Industries to Present at Electrical Products Group Investor Conference
STMicroelectronics Advances IGBT Switching Performance for Higher Efficiency and Reduced...
Three Families From Delaware, Southeastern Pennsylvania Selected for Verizon-Sponsored...
Merrimac Reports First Quarter 2008 ResultsQuarterly Continuing Operations Results...
DBSI to Increase its Holding in Cimatron to 45%Agreement to Purchase 1,700,000 (Approx....
NextPhase Wireless Executive to be Featured at ISPCON Spring 2008 Conference in Chicago,...
Equifax Acquires Majority Stake in Ecuador's Leading Credit Bureau
Groupe Silicomp : Chiffre d'affaires premier trimestre 2008 à 55,2MEUR Mise à disposition...
Alliance Data to Present at the 2008 Baird Growth Stock Conference
Auction Held on May 12, 2008 on Public Tender Offer for Acquisition of 1/3 of the...
Intrusion Inc. Books $1,250,000 of TraceCop(TM) Orders
RICHARDSON, Texas, May 13 /PRNewswire-FirstCall/ -- Intrusion Inc. (BULLETIN BOARD: INTZ) announced today it received orders totaling $1,250,000 from the U.S. Government and a U.S. Defense Contractor for TraceCop projects since April 1, 2008. These orders are expected to produce revenue over the next twelve months. TraceCop is Intrusion's product family that provides abilities to trace the source of cyber based attacks and other types of network crime.
About Intrusion Inc.
Intrusion Inc. is a global provider of entity identification systems, regulated information compliance, and data privacy protection and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for identity identification, the Compliance Commander(TM) for regulated information and data privacy protection, and Intrusion SecureNet for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com/.
This release, other than historical information, may include forward-looking statements regarding future events or the future financial performance of the Company. Such statements include, without limitations, statements regarding future revenue growth and profitability, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the difficulties in forecasting future sales caused by current economic and market conditions, the effect of military actions on government and corporate spending on information security products, spending patterns of, and appropriations to, U.S. government departments, the impact of our cost reduction programs and our refocused product line, the difficulties and uncertainties in successfully developing and introducing new products in emerging markets, market acceptance of our products, the impact of our sustained losses on our ability to successfully operate and grow our business, our stock price and the recent loss of our Nasdaq listing, our ability to generate sufficient cash flow or obtain additional financing on acceptable terms in order to fund ongoing liquidity needs, the highly competitive market for our products, the effects of sales and implementation cycles for our products on our quarterly results, difficulties in accurately estimating market growth, the consolidation of the information security industry, the impact of changing economic conditions, business conditions in the information security industry, our ability to manage acquisitions effectively, the impact of market peers and their products as well as risks concerning future technology and others identified in our Annual Report on Form 10-KSB, as amended, and other Securities and Exchange Commission filings. These filings can be obtained by contacting Intrusion Investor Relations.
Contact:
Michael L. Paxton, VP, CFO
972.301.3658, mpaxton@intrusion.com
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Intrusion Inc.
CONTACT: Michael L. Paxton, VP, CFO of Intrusion Inc., +1-972-301-3658, mpaxton@intrusion.com
Web site: http://www.intrusion.com/
Intrusion Inc. Announces First Quarter Results
RICHARDSON, Texas, May 13 /PRNewswire-FirstCall/ -- Intrusion Inc. (BULLETIN BOARD: INTZ) , ("Intrusion") today announced financial results for the quarter ended March 31, 2008.
Revenue for the first quarter 2008 was $0.5 million, compared to $1.1 million for the first quarter 2007.
Intrusion's operating loss was $0.9 million in the first quarter 2008, compared to $0.5 million for the first quarter 2007.
Gross profit margin was 61% of revenue in the first quarter of 2008; the same as in the first quarter 2007.
Intrusion's first quarter 2008 operating expenses were $1.2 million; the same as the first quarter 2007.
As of March 31, 2008, Intrusion reported cash and cash equivalents of $0.1 million, a working capital deficiency of $1.3 million and debt of $0.7 million.
"Revenue in the first quarter was reduced by slippage of contracts from the U.S. Government; however, since April 1, 2008, we have booked a total of $1,250,000 of new TraceCop orders from the U.S. Government and a U.S. Defense Contractor. These new TraceCop orders, along with the $700,000 of orders announced on March 26, 2008 are expected to produce revenue over the next twelve months," stated G. Ward Paxton, President and CEO of Intrusion.
Intrusion's management will host its regularly scheduled quarterly conference call to discuss the Company's financial and operational progress at 4:00 P.M., CDT today. Interested investors can access the call at 1-800-399-2043 (if outside the United States, 1-706-634-5518). For those unable to participate in the live conference call, a replay will be accessible beginning today at 7:00 P.M., CDT until May 20, 2008 by calling 1-800-642-1687 (if outside the United States, 1-706-645-9291). At the replay prompt, enter conference identification number 46941655. Additionally, a live and archived audio webcast of the conference call will be available at http://www.intrusion.com/.
About Intrusion Inc.
Intrusion Inc. is a global provider of entity identification systems, regulated information compliance, and data privacy protection and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for identity identification, the Compliance Commander(TM) for regulated information and data privacy protection, and Intrusion SecureNet for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com/.
This release, other than historical information, may include forward-looking statements regarding future events or the future financial performance of the Company. Such statements include, without limitations, statements regarding future revenue growth and profitability, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the difficulties in forecasting future sales caused by current economic and market conditions, the effect of military actions on government and corporate spending on information security products, spending patterns of, and appropriations to, U.S. government departments, the impact of our cost reduction programs and our refocused product line, the difficulties and uncertainties in successfully developing and introducing new products in emerging markets, market acceptance of our products, the impact of our sustained losses on our ability to successfully operate and grow our business, our stock price and the recent loss of our Nasdaq listing, our ability to generate sufficient cash flow or obtain additional financing on acceptable terms in order to fund ongoing liquidity needs, the highly competitive market for our products, the effects of sales and implementation cycles for our products on our quarterly results, difficulties in accurately estimating market growth, the consolidation of the information security industry, the impact of changing economic conditions, business conditions in the information security industry, our ability to manage acquisitions effectively, the impact of market peers and their products as well as risks concerning future technology and others identified in our Annual Report on Form 10-KSB, as amended, and other Securities and Exchange Commission filings. These filings can be obtained by contacting Intrusion Investor Relations.
INTRUSION INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands except par value amounts)
March 31, December 31,
2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $93 $362
Accounts receivable, net of allowance for
doubtful accounts of $40 in 2008 and 2007 163 110
Inventories, net 123 146
Prepaid expenses 63 75
Total current assets 442 693
Property and equipment, net 132 144
Other assets 39 39
TOTAL ASSETS $613 $876
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Line of credit $14 $100
Loan payable to officer 705 --
Accounts payable and accrued expenses 695 688
Deferred revenue 333 312
Total current liabilities 1,747 1,100
Stockholders' Deficit:
Preferred stock, $.01 par value:
Authorized shares - 5,000
Series 1 shares issued and outstanding - 260
Liquidation preference of $1,331 as of
March 31, 2008 918 918
Series 2 shares issued and outstanding - 460
Liquidation preference of $1,169 as of
March 31, 2008 724 724
Series 3 shares issued and outstanding -
354 in 2008
Liquidation preference of $785 as of
March 31, 2008 504 504
Common stock, $.01 par value:
Authorized shares - 80,000
Issued shares - 11,648
Outstanding shares - 11,638 116 116
Common stock held in treasury, at cost -
10 shares (362) (362)
Additional paid-in capital 55,492 55,527
Accumulated deficit (58,347) (57,472)
Accumulated other comprehensive loss (179) (179)
Total stockholders' deficit (1,134) (224)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $613 $876
INTRUSION INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share amounts)
Quarter ended Quarter ended
March 31, March 31,
2008 2007
Revenue $462 $1,092
Cost of revenue 179 421
Gross profit 283 671
Operating expenses:
Sales and marketing 371 515
Research and development 516 423
General and administrative 265 227
Operating loss (869) (494)
Interest income (expense), net (6) 2
Loss before income taxes (875) (492)
Income tax provision -- --
Net loss (875) (492)
Preferred stock dividends accrued (40) (43)
Net loss attributable to common stockholders $(915) $(535)
Net loss per share attributable to common
stockholders (basic and diluted) $(0.08) $(0.06)
Weighted average shares outstanding
-Basic and Diluted 11,638 8,471
Contact
Michael L. Paxton, VP, CFO
972.301.3658, mpaxton@intrusion.com
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Intrusion Inc.
CONTACT: Michael L. Paxton, VP, CFO of Intrusion Inc., +1-972-301-3658, mpaxton@intrusion.com
Web site: http://www.intrusion.com/
Sam Westover to Serve as Chairman of the Board and Chief Executive Officer for Sonic InnovationsAndrew Raguskus to Serve as Senior Technology Advisor
SALT LAKE CITY, May 13 /PRNewswire-FirstCall/ -- The Board of Directors of Sonic Innovations, Inc. , a leading producer of advanced digital hearing aids, today announced that Andrew Raguskus has stepped down as Chairman of the Board. Mr. Raguskus will continue as a member of the Board of Directors and serve as its Senior Technology Advisor. As a result of Mr. Raguskus' announcement, the Board of Directors appointed CEO Sam Westover to serve as Chairman of the Board and Chief Executive Officer for the company.
James Callahan will continue to serve as Lead Independent Director for the Board of Directors. Mr. Callahan has been a director for the company since 2004 and was reelected for an additional three year term at this year's annual shareholders meeting. He is also a member of the Board's Audit and Compensation Committees.
In making his announcement, Mr. Raguskus stated, "When I was asked to serve as Chairman of the Board it was with the intention of giving Sam [Westover] time to focus his attention on the strategy and operations of the business. He has clearly set the company on the right path and, therefore, it is time for me to step aside and allow him to assume full leadership responsibility for the company."
"Andy has been a tremendous asset to this company and the Board and I have the utmost respect for his leadership and accomplishments," said Mr. Westover in response to his appointment as Chairman of the Board. "Sonic would not be celebrating its 10-year anniversary were it not for his commitment to developing and delivering the best hearing instruments. I am pleased that Andy has agreed to accept the role of Senior Technical Advisor. His knowledge and insight to the hearing aid industry will be invaluable as we continue to develop new products to meet the needs of our customers."
About Sonic Innovations
Sonic Innovations, Inc. is the largest, publicly traded U.S.-based hearing aid manufacturer. The company was founded with a mission to commercialize a unique digital signal processing platform for hearing aids. Sonic Innovations hearing aids were among the first of their kind clinically proven to increase speech understanding in noise for the hearing impaired. Sonic Innovations, headquartered in Salt Lake City, is listed on the NASDAQ Global Market System and can be found online at http://www.sonici.com/.
This press release may contain "forward-looking statements" as defined under securities laws. Actual results may differ materially and adversely from those described herein depending on a number of factors including, but not limited to, the following risks: we face aggressive competition in our business; acquisitions could be difficult to integrate and disrupt our current business and therefore may harm our operating results; we may poorly operate newly acquired businesses; we may lose a large customer or suffer a reduction in orders from a large customer; we must have innovative, technologically superior products to compete effectively; our products, due to their complexity, may contain errors or defects that are only discovered after sales by our customers, thus harming our reputation and business; we may have issues with intellectual property; and we have important international operations, which expose us to a variety of risks including government reimbursement, that could impact sales and operating results. For additional information regarding the risks inherent in our business, please see "Factors That May Affect Future Performance" included in our Annual Report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission.
We undertake no obligation to revise our forward-looking statements to reflect events or circumstances after the date hereof as a result of new information, future events or otherwise.
Sonic Innovations, Inc.
CONTACT: Sam Westover, President and CEO, +1-801-365-2800, or Michael Halloran, Vice President and CFO, +1-801-365-2854, both of Sonic Innovations, Inc.
Web site: http://www.sonici.com/
More Points Equals Faster RewardsGuests Can Earn an Extra 1,000 Points this Summer with Choice Privileges
SILVER SPRING, Md., May 13 /PRNewswire-FirstCall/ -- The Choice Privileges rewards program from Choice Hotels International, Inc. is offering its members an extra 1,000 points this summer just for staying at a Choice economy or extended stay brand hotel.
"With over six and a half million members, Choice Privileges continues to grow. Consumers appreciate the value this program offers, and we're making that value even stronger just in time for the start of the summer family travel season," said Bill Carlson, senior vice president, marketing, Choice Hotels.
Members of the Choice Privileges program who book at choicehotels.com for qualifying stays between June 1 and August 14 at MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge or Rodeway Inn brand hotels in the U.S. will be eligible to receive 1,000 bonus points. Consumers can earn the 1,000 bonus points reward an unlimited number of times during the promotion period, without having to register*.
"We're very excited to be giving our members the opportunity to earn an extra 1,000 points this summer," added Greg Brown, vice president, Choice Privileges. "This is a great bonus on top of the rewards that Choice Privileges already offers, and it gives consumers one more reason to get out there and experience the world of travel."
Membership in the Choice Privileges rewards program is free. The program offers points towards free nights, Airline Rewards or hundreds of gift cards while staying at Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brand hotels in the United States (including Hawaii), Canada, Europe**, Mexico and the Caribbean.
For more information about the Choice Privileges rewards program, as well as other promotional offers by Choice Hotels, visit choiceprivileges.com.
About Choice Hotels
Choice Hotels International franchises more than 5,600 hotels, representing more than 455,000 rooms, in the United States and 38 countries and territories. As of March 31, 2008, 986 hotels are under development in the United States, representing 79,276 rooms, and an additional 96 hotels, representing 8,321 rooms, are under development in more than 20 countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide.
Additional corporate information may be found on the Choice Hotels Web site, which may be accessed at http://www.choicehotels.com/.
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn are proprietary trademarks and service marks of Choice Hotels International.
*Reservations must be made at choicehotels.com at qualifying rates and
Choice Privileges member number must be provided upon check-in to be
eligible for this promotion. After each qualifying stay, with arrival
between June 1 and August 14, 2008, at MainStay Suites, Suburban Extended
Stay, Econo Lodge and Rodeway Inn hotels in the U.S., 1,000 bonus points
will be added to members' Choice Privileges account within 72 hours of
completed stay. A stay is defined as any number of consecutive nights at
one hotel regardless of check-ins or check-outs. You must maintain a
U.S. address (including U.S. territories) to be eligible for this
promotion. For program details, qualifying rates and point redemption
rules, visit choiceprivileges.com.
**Excluding Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway
and Sweden
Choice Hotels International, Inc.
CONTACT: Rocco Loverro of Choice Hotels International, Inc., +1-301-592-6719, rocco_loverro@choicehotels.com
Web site: http://www.choicehotels.com/ http://www.choiceprivileges.com/
McClatchy Declares Second Quarter 2008 Dividend
SACRAMENTO, Calif., May 13 /PRNewswire-FirstCall/ -- The McClatchy Company today declared a regular quarterly cash dividend of $.18 cents per share. The second quarter dividend is payable July 1, 2008 to stockholders of record at the close of business on June 11, 2008.
About McClatchy:
The McClatchy Company is the third largest newspaper company in the United States, with 30 daily newspapers, approximately 50 non-dailies, and direct marketing and direct mail operations. McClatchy also operates leading local websites in each of its markets which extend its audience reach. The websites offer users comprehensive news and information, advertising, e-commerce and other services. Together with its newspapers and direct marketing products, these interactive operations make McClatchy the leading local media company in each of its premium high growth markets. McClatchy-owned newspapers include The Miami Herald, The Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The (Raleigh) News & Observer.
McClatchy also owns a portfolio of premium digital assets, including 14.4% of CareerBuilder, the nation's largest online job site, and 25.6% of Classified Ventures, a newspaper industry partnership that offers two of the nation's premier classified websites: the auto website, cars.com, and the rental site, apartments.com. McClatchy is listed on the New York Stock Exchange under the symbol MNI.
The McClatchy Company
CONTACT: Elaine Lintecum of The McClatchy Company, +1-916-321-1846, elintecum@mcclatchy.com
Web site: http://www.mcclatchy.com/
Presentation by Limelight Networks Chief Financial Officer Matt Hale at FBR Capital Markets 12th Annual Spring Investor Conference
TEMPE, Ariz., May 13 /PRNewswire-FirstCall/ -- Limelight Networks, Inc. Chief Financial Officer Matthew Hale will present at the Friedman, Billing, Ramsey & Company 12th Annual Spring Investor Conference, held at The Grant Hyatt New York Hotel in New York City.
Mr. Hale's presentation will begin at approximately 9:45am Eastern Standard Time, U.S.A., on Thursday, May 29, 2008. Investors may listen to the live webcast and view the slide presentation by visiting the Investors section of the company's website, at http://www.llnw.com/ .
About Limelight Networks, Inc.
Limelight Networks, Inc. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust our robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. Our architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light -- directly to the access networks that consumers use every day. Our proven network and passion for service provides our customers confidence that every object in their library will be delivered to every user, every time. For more information, visit http://www.limelightnetworks.com/.
Copyright (C)2008 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners
Limelight Networks, Inc.
CONTACT: Paul Alfieri of Limelight Networks, Inc., +1-917-297-4241, palfieri@llnw.com
Web site: http://www.limelightnetworks.com/
Update: Microsoft Announces U.S. Availability of Citizen Services 'E-Government'Platform enables Microsoft and partners to provide governments with tools focused on increasing responsiveness and access to critical services.
MIAMI, May 13 /PRNewswire-FirstCall/ -- Governments at all levels are increasingly asked to respond to demands for improved service and efficiency. Microsoft Corp. and its partners are meeting this challenge through the availability of an applications platform, the Citizen Service Platform (CSP), which will make it easier for governments to interact with citizens, streamline processes and, as a result, save time and taxpayer dollars. Together with its partners, Microsoft's CSP offerings will help governments of all sizes more responsively deliver services to citizens via the Internet. Today's announcement was made at the Public Technology Institute 2008 Technology Leadership Conference and Expo being held this week in Miami.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
The CSP application framework, announced originally by Microsoft in January 2008, is now available to customers along with free templates to help customers implement technological solutions to some of the most common issues governments face.
"Government agencies are looking for simpler processes, yet enhanced interactions, for the way they serve their constituents," said Gail Thomas-Flynn, general manager of State and Local Government for Microsoft. "The common framework offered through the Citizen Services Platform enables efficient collaboration and productivity to provide better service, reduce costs and improve management insight."
Free Templates Allow Partners and Customers to Customize In-House
The CSP is an extensible package that enables repeatable implementation of local and regional government solutions. It leverages existing investments and easily scales as new business requirements arise. Built with Microsoft infrastructure components, it uses open standards and includes a set of common transactions so developers can build solutions that enable delivery of critical services to citizens, businesses and civil servants.
CSP availability includes templates available for existing customers to download at no cost, bolstering their ability to do more with existing technology investments. The eight new templates that focus on common government challenges are the following:
-- E-Councilor template. A Windows Live Agent that allows messenger
communication with a virtual government worker to ask questions
-- Web TV template. Allows government and citizen video hosting in Web 2.0
style
-- Windows SharePoint Services 3.0 templates. Set of 40 templates to
customize scenarios that address both site and system administration
needs
-- Local government communications template. Sample portal with intranet
and extranet templates
-- Role-based My Site template. Designed for Microsoft Office SharePoint
Server 2007 and the My Site functionality
-- Agenda Management template. Allows organizations to streamline
processes
-- Electronic form templates. Microsoft Office InfoPath form templates
addressing areas from building permitting to tax declaration
-- Microsoft Dynamics CRM templates for municipal governments. Vertical
templates including reference data models, predefined work flows, and
role-based user experiences
Governments are able to apply the templates to their own CSP configurations and customize them to further close the gap between citizen expectations and their own delivery of services. According to research conducted on behalf of Microsoft by Capgemini in 2007, features such as citizen portals, case management, intelligent forms, community Web sites and document management emerged as strong priorities for governments to focus their IT spending on; all are represented in the free template offerings.
CSP and Partner Solutions at Work
Several examples of Microsoft and partner CSP solutions showcase how governments can adapt CSP to their most pressing citizen concerns and business needs. To date, numerous partners have signed up to build solutions on the CSP, including Infusion Development, Ascentium Corp., Idea Integration Corp. and AAJ Technologies.
Several solutions already are in development, including the following:
-- City of Miami: Empowering citizens and streamlining crime alerts. The
City of Miami plans to expand its internationally recognized elevate
Miami citizen empowerment program by adding Web 2.0 tools through the
CSP framework. elevate Miami and its wide-ranging program to provide
training and affordable technology packages for residents aims to
increase household income, help residents save and accumulate assets,
build an increasingly talented work force, enhance small businesses,
and promote the capacity of faith-based organizations. Specifically,
the tools citizens use as part of the CSP's Live components include
Wikis, blogs and RSS feeds.
"A responsive, supportive, streamlined e-government process is one of
the best ways we can serve our constituents and responsibly use
resources," said Peter Korinis, CIO of the City of Miami. "Microsoft's
CSP framework is flexible yet robust enough to enhance the investment
we have already made, as well as meet the demands of our elevate Miami
mission of empowering all of our citizens with 21st Century tools to
boost their skills and strengthen their communities."
-- City of Camden, N.J.: Reducing administrative burden with e-forms. With
a population of 79,000 people, the City of Camden needed to
dramatically improve administration, accountability and citizen
service. Developing a SharePoint Server portal solution successfully
streamlined administration to ensure that resident service requests and
city operations are now managed far more efficiently. The solution is
saving the city 7,176 labor hours per year through reforming cumbersome
paper-based processes, eliminating double data entry, and reducing
paper handling. It also provides far more accurate reporting with
standardized reporting processes.
-- Brevard County, Fla.: Records management. Brevard County embarked on
the creation of a Microsoft Office SharePoint Server 2007
implementation to improve document and records management for its
permitting and licensing department. CSP, via partner AAJ Technologies,
provides Brevard with a greater flexibility to load, classify and
search the large volumes of documents, as well as apply records-
retention policies to those documents. Success with Microsoft Office
SharePoint Server within the permitting and licensing department will
be the foundation for using document management and records management
capabilities across the remaining county departments.
More information about CSP, as well as more case studies, purchasing information and details on how to locate local partners, can be found at http://www.microsoft.com/industry/government/solutions/csp/default.mspx.
About Microsoft
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
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Microsoft Corp.
CONTACT: Jared Adams of Merritt Group, +1-703-390-1530, adams@merrittgrp.com
Web site: http://www.microsoft.com/
Comcast Announces Webcast of Annual Meeting of Shareholders
PHILADELPHIA, May 13 /PRNewswire-FirstCall/ -- Comcast Corporation's Annual Meeting of Shareholders will be broadcast live over the Internet on Wednesday, May 14, at 9:00 a.m. Eastern Time.
The meeting can be accessed on the Company's Investor Relations website at http://www.cmcsa.com/ or http://www.cmcsk.com/. An on-demand replay will be available shortly after the conclusion of the presentation.
To automatically receive Comcast financial news by e-mail, please visit http://www.cmcsa.com/ or http://www.cmcsk.com/ and subscribe to E-mail Alerts.
About Comcast
Comcast Corporation (http://www.comcast.com/) is the nation's leading provider of entertainment, information and communications products and services. With 24.7 million cable customers, 14.1 million high-speed Internet customers, and 5.2 million voice customers, Comcast is principally involved in the development, management and operation of broadband cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One, ten Comcast SportsNet networks and Comcast Interactive Media, which develops and operates Comcast's Internet business. Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
Comcast Corporation
CONTACT: Comcast Corporation, Investor Relations, +1-215-981-7537
Web site: http://www.comcast.com/ http://www.cmcsa.com/ http://www.cmcsk.com/
KOCH Records Signs Long Term Agreement with Play MPE(R)Largest Independently Distributed Record Company to Digitally Deliver Releases
VANCOUVER, British Columbia, May 13 /PRNewswire-FirstCall/ -- Destiny Media Technologies (BULLETIN BOARD: DSNY) is pleased to announce the signing of a termed agreement with KOCH Records, a division of KOCH Entertainment, to utilize the Play MPE(R) System to digitally deliver music to trusted recipients and music industry VIPs. KOCH Entertainment, North America's largest independently distributed record company and KOCH Records, the fastest growing independent record label in the U.S., will utilize the Play MPE(R) System for digital delivery of their pre-release content to radio broadcasters. This continues to confirm Play MPE(R) as the global standard for digital delivery.
"Play MPE(R) is a fast, convenient, and cost effective way to deliver our music," said Chuck Oliner, VP Radio and Video Promotion at KOCH Records. "Their high quality audio files make it easy for us to send our music digitally to radio programmers. Play MPE(R) is a simple solution that makes moving to digital delivery painless for us ... I hate having to find that little spindle for those 45s."
"KOCH Records is the largest independent label in the U.S. today and we are thrilled to have them signed with Play MPE(R)," said Laurie Gail, Director of East Coast Label and Radio Relations. "As the #1 Independent label 7 years running in the U.S., KOCH is an icon in the industry. We welcome KOCH to our long list of signed record label partners."
About KOCH Entertainment
KOCH Entertainment, founded in 1987 and now in its twenty-second year, is the leading and fastest-growing independent music company in the U.S. KOCH's operations encompass record and video labels, music publishing as well as distribution companies in the U.S. and Canada. KOCH Entertainment is the market leader among independent labels and distributors in both the U.S. and Canada. Its record label KOCH Records is the # 1 independent label in the U.S. and had the largest number of Billboard charting albums among independents for seven years in a row (2001 - 2007). KOCH Entertainment is a subsidiary of Entertainment One Ltd. which is listed on the London Stock Exchange's AIM market (ticker symbol "ETO.L").
About Play MPE(R)
With almost 21,000 users and over 82,000 songs from more than 1,000 record labels, including Universal Music Group, EMI Music Group, Sony BMG and Warner Music Group, Destiny's Play MPE(R) system is the most widely used digital distribution system available to the recording and radio industries. Play MPE(R) is a secure distribution system that features state-of-the-art encryption to protect content while delivering high definition audio to users in radio, marketing and media. A powerful promotional tool, Play MPE(R) also allows record companies to distribute video, text and graphics including music videos, CD covers, credits, lyrics, promotions, and other content. More information on Play MPE(R) can be found at http://www.plaympe.com/
About Destiny Media Technologies
Destiny (http://www.dsny.com/) is a software development company which provides tools that some of the world's largest media companies use to distribute their content on the Internet. Products include Play MPE(R), Clipstream(R) and Radio Destiny(TM).
Safe Harbor Statement
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Company Contact:
Steve Vestergaard, CEO
Destiny Media Technologies, Inc.
(604) 609-7736 (ext. 222)
Email: steve@dsny.com
Destiny Media Technologies
CONTACT: Steve Vestergaard, CEO of Destiny Media Technologies, Inc., +1-604-609-7736, ext. 222, steve@dsny.com
Web site: http://www.dsny.com/ http://www.plaympe.com/
Gameloft annonce TV Show King en exclusivité pour WiiWare
PARIS, May 13 /PRNewswire/ -- Gameloft(R), développeur et éditeur mondial de jeux vidéo sur
consoles et mobiles annonce le lancement du jeu TV Show King sur WiiWare(TM),
le nouveau service de Nintendo permettant de télécharger des jeux pour la
Wii(TM).
<< Spécialistes des jeux pour joueurs occasionnels, nous
sommes ravis de lancer notre premier jeu téléchargeable via le service
WiiWare >> a déclaré Gonzague de Vallois, senior vice-président Publishing de
Gameloft. << La Wii a complètement révolutionné l'univers des jeux et le
lancement du service WiiWare nous permet désormais de distribuer davantage de
jeux innovants et distrayants avec une facilité déconcertante. Le premier jeu
sorti est TV Show King >>.
TV Show King est une création originale, développé
exclusivement pour le service WiiWare, qui simule un jeu TV de culture
générale. En tant que joueur, vous devrez répondre à des questions en faisant
preuve de stratégie ou en utilisant la bonne vieille arme du bluff de façon à
éliminer les trois autres concurrents. Reproduisant à la perfection
l'ambiance exaltée d'un plateau TV, ce jeu s'appuie sur 3000 questions dans
des domaines aussi variés que l'histoire, la géographie, la littérature, les
sciences, les sports ou les loisirs. Avec des questions qui à 80 % sont des
questions générales et à 20 % des questions spécifiques à chaque pays, TV
Show King est promis à une forte adoption dans de nombeux pays.
Les principales caractéristiques de TV Show King sont les
suivantes :
- Peut accueillir jusqu'à 4 joueurs, les adversaires pouvant
être des amis, des membres de la famille ou l'Intelligence Artificielle.
- Trois niveaux de difficulté : << Normal >> pour le plus gros
des troupes, << King >> pour les intellectuels et enfin << Genius >> pour les
grosses têtes.
- Trois type de questionnaire : le Classic Quiz, dans lequel
il suffit d'être le premier à répondre pour empocher 100 % des points, le
deuxième n'en recevant que 70 % ; Le Scratch Quiz - là les questions sont
cachées et vous devrez utiliser votre Wiimote pour trouver les bonnes
réponses en grattant les différentes options offertes, et enfin le Light Quiz
qui vous permettra de faire surgir les bonnes réponses de l'obscurité en
utilisant votre pointeur à la manière d'une torche balayant de son faisceau
la bonne réponse.
TV Show King est désormais téléchargeable via WiiWare en
Amérique du Nord, et sera bientôt disponible en Europe et au Japon.
A propos de Gameloft
Gameloft est un éditeur et développeur mondial de jeux pour téléphones
mobiles et consoles.
Fondé en 1999 et aujourd'hui leader dans son domaine, Gameloft conçoit
des jeux pour les téléphones incluant les technologies Java, Brew ou Symbian,
dont le parc installé devrait dépasser quatre milliards d'unités en 2011.
Des accords de partenariat avec de grands détenteurs de droits comme
Ubisoft Entertainment, Universal Pictures, ABC, Touchtone Television,
Dreamworks Amimations SKG, Endemol, 20th Century Fox, Viacom, Sony Pictures,
Warner Bros., Paris Hilton Ent., FifPro, Lamborghini, Lleyton Hewitt, Gus
Hansen, Kobe Bryant, Robinho, Patrick Vieira, Christophe Dominici ou Jonny
Wilkinson permettent à Gameloft d'associer de très fortes marques
internationales à ses jeux. En plus de ces marques, Gameloft possède ses
propres marques comme Block Breaker Deluxe, Asphalt: Urban GT ou New York
Nights.
Grâce à des accords avec l'ensemble des principaux opérateurs télécom,
des fabricants de téléphones, des distributeurs spécialisés ainsi que sa
boutique http://www.gameloft.com, Gameloft distribue ses jeux dans 80 pays.
Gameloft est présent à New York, San Francisco, Seattle, Montréal,
Mexico, Buenos Aires, Paris, Londres, Cologne, Copenhague, Milan, Madrid,
Vienne, Varsovie, New Dehli, Pékin, Tokyo, Hong Kong, Séoul et Sydney.
Gameloft est cotée au Compartiment B de la bourse de Paris
(ISIN: FR0000079600, Bloomberg: GFT FP, Reuters: GLFT.PA).
Pour plus d'informations, visitez http://www.gameloft.com
(c) 2008 Gameloft. Tous droits réservés. Gameloft et le logo Gameloft
sont des marques déposées de Gameloft.
Contact presse:
Gameloft,
Aude Fouquier,
PR Manager,
email : aude.fouquier@gameloft.com ,
Tel : +33(1)58-16-21-55.
Gameloft
Contact presse: Gameloft, Aude Fouquier, PR Manager, email : aude.fouquier@gameloft.com , Tel : +33(1)58-16-21-55.
Media General Completes Sale of WTVQ-TV in Lexington, Ky., to Morris Network, Inc.
RICHMOND, Va. and SAVANNAH, Ga., May 13 /PRNewswire-FirstCall/ -- Media General, Inc. and Morris Network, Inc. announced today the completion of Morris Network's purchase of Media General's ABC television station WTVQ in Lexington, Ky. Terms were not disclosed.
Marshall N. Morton, president and chief executive officer of Media General, said, "We are pleased to complete the sale of WTVQ and we will use the proceeds immediately for debt reduction. We thank our former employees for their dedicated service and wish them well."
Media General has also agreed to sell WMBB, an ABC station in Panama City, Fla., and KALB/NALB, a NBC/CBS station in Alexandria, La., to Hoak Media Corporation. Additionally, the sales of two other stations, WCWJ, a CW affiliate in Jacksonville, Fla., and WNEG in Toccoa, Ga., are progressing. All of these stations were included in discontinued operations in Media General's first quarter 2008 results.
When the sales of all five stations are completed, Media General expects to realize total proceeds of $100 million to $105 million, which will be used to reduce debt by $60 million to $65 million after considering estimated taxes to be paid.
Forward-Looking Statements
This news release contains forward-looking statements that are subject to various risks and uncertainties and should be understood in the context of the company's publicly available reports filed with the Securities and Exchange Commission. Media General's future performance could differ materially from its current expectations.
About Media General
Media General is a leading provider of local news, information and entertainment over multiple media platforms. The company serves markets primarily in the Southeastern United States. Media General publishes 25 daily newspapers, including The Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal; and community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; plus approximately 275 weekly newspapers and other targeted publications. The company owns and operates 22 network-affiliated television stations that reach more than 30 percent of the television households in the Southeast and 9 percent of those in the United States. The company's interactive media operations include Web sites and portals that are associated with each of its newspapers and television stations as well as with many specialty publications, and two growing interactive advertising services companies, Blockdot, Inc. and DealTaker.com.
About Morris Multimedia, Inc.
Morris Multimedia, Inc., founded in 1970 and headquartered in Savannah, Georgia, is one of the largest privately-owned media companies in the United States. Morris Multimedia, through its affiliate Morris Network, Inc., owns and operates the following eight network affiliate television stations:
- WDEF: Chattanooga, Tennessee
- WCBI: Columbus/Tupelo/West Point, Mississippi
- CW North Mississippi: Columbus/Tupelo/West Point, Mississippi
- MY Mississippi: Columbus/Tupelo/West Point, Mississippi
- WXXV: Gulfport, Mississippi
- WTVQ: Lexington, Kentucky
- WMGT: Macon, Georgia
- WWAY: Wilmington, North Carolina
Morris Multimedia also owns and operates over 90 daily and weekly newspapers, shoppers and niche publications through its affiliate, Morris Newspaper Corporation. Morris Multimedia operates in 10 states and the Caribbean.
Media General, Inc.
CONTACT: Lou Anne J. Nabhan, Investors, +1-804-649-6103, or Ray Kozakewicz, Media, +1-804-649-6748, both of Media General, Inc.; or Jeffrey R. Samuels, Chief Financial Officer of Morris Multimedia, Inc., +1-912-233-1281
Web site: http://www.mediageneral.com/
CGI Announces the Product Launch of CGI Edge(TM)Stock Market Symbols GIB.A (TSX) GIB (NYSE)
LAS VEGAS, NV, May 13 /PRNewswire-FirstCall/ -- CGI Group, Inc. (TSX: GIB.A; NYSE: GIB), a leader in information technology and business process services, today announced the product launch of CGI Edge(TM) the next generation of CGI's property and casualty insurance software. Leveraging leading technologies, CGI Edge uses a web-based, service-oriented architecture, based on the .Net framework, and incorporates Web 2.0 technology. A service-based approach with externalized business rules gives CGI Edge the power to deliver a highly configurable solution. CGI Edge supports the complete policy lifecycle, including quoting and issuance, policy administration, billing, automated reinsurance processing, agency processing, and management/statistical reporting.
This comprehensive suite of software provides insurance companies with a competitive advantage in pursuing increased growth and profitability. CGI Edge gives agents an easy-to-use web-based interface that allows agents to perform all policy transactions including quotes, new business, endorsements, payments, and creating a first notice of loss. Integrated technology enables carriers to act instantly to take advantage of emerging market opportunities and to respond to their clients' needs. Users will find CGI Edge easy to modify and configure without the need for complex and lengthy coding changes.
"CGI Edge gives our agents the capacity to electronically quote and submit policies for all Personal and Commercial lines of business. The functionality, technology, and ease of use that this web-based product brings to our agent/company interface enables a more service-oriented approach to customer service," said Ron Boyd, President and CEO, Midwest Family Mutual Insurance Company.
"The primary business drivers for carriers in this market are profitable growth, managing expenses, and having the flexibility to quickly respond to market changes and opportunities. CGI's vision and commitment to investing in the transformation of its insurance solutions resulted in the development of CGI Edge," said Gordon Gaar, Vice-President, Marketing and Strategy for Insurance, CGI.
About CGI
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.
CGI GROUP INC.
CONTACT: Business Development: Larry Stern, Vice-President, New England & Insurance Services, (817) 348-3335, lawrence.stern@cgi.com; Media: Linda Odorisio, Vice-President, US Communications, (703) 227-6161, linda.odorisio@cgi.com
Belo Holds Annual Meeting of ShareholdersRe-Elects Three Members to its Board of Directors
DALLAS, May 13 /PRNewswire-FirstCall/ -- Belo Corp. held its Annual Meeting of Shareholders this morning where it re-elected three Class I directors including: Robert W. Decherd, director since March 1976; Dunia A. Shive, director since February 2008; and M. Anne Szostak, director since October 2004. These Class I directors are eligible to serve a three-year term until the 2011 annual meeting.
William T. Solomon, a Class I director, retired from the Board of Directors at today's meeting after serving 25 years. In his remarks at the meeting, Robert W. Decherd, Belo's Chairman, said, "No director has had a greater impact on our Company over the past quarter century, and Bill has set the standard for integrity, discipline and business acumen. On behalf of the entire Board and management team, I express our deep appreciation to Bill Solomon for his outstanding leadership."
In addition, shareholders ratified the appointment of Ernst & Young LLP as Belo's independent registered public accounting firm, and voted against a proposal relating to the repeal of the Company's classified board.
Belo also announced today that Jerry F. Cadigan, production operations manager for WFAA-TV in Dallas/Fort Worth, received the 15th annual William H. Seay Award at the Company's Annual Meeting. The award is named in honor of the late William H. Seay, who served on Belo's Board of Directors for 22 years before his retirement in 1995. The award is given annually to an employee whose standards and values reflect Seay's integrity, loyalty, journalistic standards and community commitment, the same principles that have guided Belo for more than 165 years.
In presenting the award, Dunia A. Shive, Belo's president and Chief Executive Officer, said, "No one is more requested to be on a team than Jerry. His personal integrity has been a measuring stick for others at WFAA to follow, and he has continually set the bar for the many young professionals he's mentored over the years."
Cadigan grew up in Dallas and was an intern at WFAA while a student at SMU. He started on the floor crew almost 35 years ago and WFAA is the only place he has ever worked.
Michael Devlin, president and General Manager of WFAA, said, "To the department heads at WFAA, he's their problem solver -- the guy that simply makes everything happen -- always with a can-do approach and a positive attitude."
Cadigan and his wife Caton have one daughter and one son, Kathleen and Trevor.
A replay of the Webcast of the Annual Meeting of Shareholders can be found at the Company's Web site at http://www.belo.com/invest.
About Belo
Belo Corp. is one of the nation's largest pure-play publicly-traded television companies, with annual revenue of approximately $775 million. The Company owns and operates 20 television stations reaching more than 14 percent of U.S. television households, including ABC, CBS, NBC, FOX, CW and MyNetwork TV affiliates, and their associated Web sites, in 15 highly-attractive markets across the United States. Belo stations consistently deliver distinguished journalism for which they have received significant industry recognition including nine Alfred I. duPont-Columbia University Silver Baton Awards; nine George Foster Peabody Awards; and 19 national Edward R. Murrow Awards -- all since 2000, and in each case more than any other commercial station group in the nation. Nearly all Belo stations rank first or second in their local market. Belo owns stations in seven of the top 25 markets in the nation, with six stations located in the fast-growing, top-14 markets of Dallas/Fort Worth, Houston, Seattle/Tacoma and Phoenix. Additionally, the Company has created regional cable news channels in Texas and the Northwest increasing its impact in those regions. Additional information is available at http://www.belo.com/ or by contacting Paul Fry, vice president/Investor Relations & Corporate Communications, at 214-977-6835.
Belo Corp.
CONTACT: Paul Fry, vice president-Investor Relations & Corporate Communications of Belo Corp., +1-214-977-6835
Web site: http://www.belo.com/
NVIDIA Announces Upcoming Schedule of Events With the Financial Community
SANTA CLARA, Calif., May 13 /PRNewswire-FirstCall/ -- NVIDIA Corporation today announced that senior executives will participate in the following upcoming conference:
JP Morgan - 36th Annual Technology Conference
Tuesday, May 20, 2008 at 10:40 AM Eastern Time
Westin Boston Waterfront Hotel - Boston, Massachusetts
Interested parties can listen to a live audio Web cast of NVIDIA's presentation on the NVIDIA Investor Relations Web site at http://www.nvidia.com/investor. A replay of the Web cast will be available for thirty days.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020613/NVDALOGO)
About NVIDIA
NVIDIA is the world leader in visual computing technologies and the inventor of the GPU, a high-performance processor which generates breathtaking, interactive graphics on workstations, personal computers, game consoles, and mobile devices. NVIDIA serves the entertainment and consumer market with its GeForce(R) products, the professional design and visualization market with its Quadro(R) products, and the high-performance computing market with its Tesla(TM) products. NVIDIA is headquartered in Santa Clara, Calif. and has offices throughout Asia, Europe, and the Americas. For more information, visit http://www.nvidia.com/.
Copyright (C) 2008 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, Quadro, and Tesla are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020613/NVDALOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
NVIDIA Corporation
CONTACT: Michael Hara, Investor Relations, +1-408-486-2511, mhara@nvidia.com, or Calisa Cole, Corporate Communications, +1-408-486-6263, ccole@nvidia.com, both of NVIDIA Corporation
Web site: http://www.nvidia.com/
Siemens PLM Software: Key Milestones Achieved During Its First YearNew Reports from Leading Industry Analysts Highlight Siemens PLM Software's Growing Position as a Leader in the PLM Market and its Commitment to Digital Product Development
PLANO, Texas, May 13 /PRNewswire/ -- Siemens PLM Software, a business unit of the Siemens Industry Automation Division and a leading global provider of product lifecycle management (PLM) software and services, today celebrated a series of milestones achieved during its first year as part of Siemens AG -- capped by the results of two new reports from leading industry analyst firms highlighting its growing position as a leader in the PLM market and its commitment to digital product development through the establishment of a new standard for mechanical computer-aided design (CAD).
(Logo: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO )
"In the one year since Siemens AG announced the close of its acquisition of UGS, we have successfully integrated our operations into those of Siemens while concurrently growing our business and capturing market share in the PLM industry," said Tony Affuso, chairman and CEO of Siemens PLM Software. "It's been a strong first year for us as part of Siemens, and we look forward to a long and successful future as a member of the Siemens family."
"In addition, we moved forward with our Unified Product and Production Initiative, which we believe will fundamentally alter the landscape of what companies can expect from industry software by providing them with greater speed and confidence in bringing products to market than they have ever experienced," said Dr. Helmuth Ludwig, president, Siemens PLM Software. "And more recently at Hanover Fair, we launched our new synchronous technology thanks to Siemens' ability to accelerate this breakthrough technology to market. Siemens and UGS are a great combination and are off to a fast start."
"Congratulations to Siemens PLM Software for a fantastic year -- we are so pleased to have the team as part of the Siemens family. Our shared vision of unifying the product and production lifecycles is becoming a reality," said Peter Loescher, president and CEO, Siemens AG during a site visit at the Siemens PLM Software location in Detroit.
New Analyst Reports
Siemens PLM Software today announced the results of two new reports from leading industry analyst firms, including a new report from Forrester Research highlighting its growing position as a leader in the PLM market.
"Siemens PLM (Software) continues to build on its legacy of innovation in the PLM space by constantly raising the bar with the depth and breadth of their product offerings," according to an April 2008 report The Forrester Wave(TM): Product Life-Cycle Management Applications, Q2 2008. The report also states, "Siemens PLM also leads (the PLM market) in overall strategy; the latest Teamcenter(R) 2007 platform formalizes many prior investments in shared services and common components into a unified architecture that will facilitate more industry-focused solutions and a tighter end-to-end PLM data model.
"Customers we spoke with conveyed Siemens PLM Software's strategy as a key differentiator, specifically citing the company's vision for an open product/process data platform and industry-leading integrations that drives future value."
Another new report, from Gartner, underscores Siemens PLM Software's commitment to mechanical digital product development, or CAD, computer-aided manufacturing (CAM) and computer-aided engineering (CAE). The new report entitled, "Siemens Reaffirms Its CAD Future with Synchronous Technology," focuses on Siemens PLM Software's technology advancement and the drive to dispel speculation that it will abandon mechanical CAD as a core competency. The report also reinforces the forecast by Gartner -- which recently reported that "Siemens has become one of the largest and most important providers of software serving the needs of manufacturers" -- that a new generation of CAD will replace procedural history-based modeling as the mainstream approach to mechanical CAD and that our breakthrough release of synchronous technology has the ability to set a new standard for the industry.
About Siemens PLM Software
Siemens PLM Software, a business unit of the Siemens Industry Automation Division, is a leading global provider of product lifecycle management (PLM) software and services with 4.6 million licensed seats and 51,000 customers worldwide. Headquartered in Plano, Texas, Siemens PLM Software's open enterprise solutions enable a world where organizations and their partners collaborate through Global Innovation Networks to deliver world-class products and services. For more information on Siemens PLM Software products and services, visit http://www.siemens.com/plm .
About the Siemens Industry Automation Division
The Siemens Industry Automation Division (Nuremberg), a division of the Siemens Industry Sector, is a worldwide leader in the fields of automation systems, low-voltage switchgear and industrial software. Its portfolio ranges from standard products for the manufacturing and process industry to solutions for whole industries and systems that encompass the automation of entire automobile production facilities and chemical plants. As a leading software supplier, Industry Automation optimizes the entire value added chain of manufacturers -- from product design and development to production, sales and a wide range of maintenance services.
Note: Siemens and the Siemens logo are registered trademarks of Siemens AG. Teamcenter is a trademark or registered trademark of Siemens Product Lifecycle Management Software Inc. or its subsidiaries in the United States and in other countries. All other trademarks, registered trademarks or service marks belong to their respective holders.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Siemens PLM Software
CONTACT: Mendi Paschal, +1-972-987-3210, mendi.paschal@siemens.com, of Siemens PLM Software
Web site: http://www.siemens.com/plm
Marion, Massachusetts Residents to Benefit From Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Voice, Multimedia and Internet Access
MARION, Mass., May 13 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Plymouth County, Verizon Wireless has activated a new cell site. The new site increases high-speed wireless data coverage and capacity along Route 6 and I-195 in Marion, as well as the surrounding area.
Verizon Wireless has invested more than $45 billion since it was formed to increase the coverage and capacity of its national network and to add new services like BroadbandAccess and V CAST. Regionally the company has invested nearly $2.2 billion into its New England network, including over $292 million in 2007 alone. As a result of these investments, every Verizon Wireless cell site in New England offers wireless broadband connectivity.
BroadbandAccess offers computer users the nation's most reliable high- speed wireless mobile broadband network, operating at average upload speeds between 500 and 800 kbps, and download speeds between 600 kbps and 1.4 mbps over Verizon Wireless' BroadbandAccess with EV-DO Revision A network. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones.
Strong demand for Verizon Wireless services continued during the first quarter of 2008 as the company added 1.5 million net new customers and, for the fourteenth consecutive quarter, reported the lowest customer turnover (highest customer loyalty) rate in the wireless industry.
The company's 'nation's most reliable wireless network' reputation is based on network studies performed by real-life test men and test women throughout the country who inspired the "can you hear me now" national advertising campaign. Nationally, these test men and women drive nearly 100 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways as well as major roads and surface streets in high- population areas, based upon U.S. Census counts, to confirm that voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 67.2 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/ . To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia .
Verizon Wireless
CONTACT: Michael Murphy of Verizon Wireless, +1-781-932-1213, Michael.murphy@verizonwireless.com; or Anne Elise O'Connor of Thomson Communications for Verizon Wireless, +1-617-548-2765, Aeoc@thomsoncommunications.com
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
VUANCE's Clarity/Insignia Solutions Provide Cost-Effective Electronic Access Control for Multi-site Energy Company
ROCKVILLE, Md., May 13 /PRNewswire-FirstCall/ -- VUANCE Ltd. (Nasdaq and Euronext: VUNC), a provider of innovative Radio Frequency Verification Solutions, including active RFID, electronic access control, credentialing and incident response management, today announced that leading energy companies are using Clarity/Insignia to provide easy-to-manage electronic access control solutions.
Clarity is VUANCE's highly flexible and scalable access control software system. It works with programmable cards and key fobs, and access control panels, especially the Insignia I-4000 Controller. Together, they provide an electronic access control solution for commercial enterprises that want to grant access and egress to properly credentialed individuals.
Southwestern Energy Company is an integrated energy company primarily focused on the exploration for and production of natural gas in several sites including Houston, TX, Fayetteville, AK and Conway, AK. Different access control systems were installed at the sites. The Houston facility needed to replace its aging access control system, and, looking forward, the Company decided to standardize around a scalable solution that also would enable it to use much of the existing wiring and panel infrastructure, and eventually upgrade to the vendor's product line.
Electronic Security Service, a Houston-based VUANCE business partner and system integrator developed an integratable solution to meet its needs. First, it focused on harnessing Clarity's software versatility to develop a solution in which Southwestern Energy could continue to use the identity cards and key fobs which employees already were using and, using the existing Ethernet structure, transmit the information from each site to a dedicated Clarity server. This way, employees also could travel from one facility to another as their credentials will easily be accepted at all company facilities. Second, as access control panels needed to be replaced and new ones added, VUANCE's Insignia I-4000 were installed.
A second challenge arose with the parking garage in the Houston office building's own electronic access control system, forcing Southwestern Energy employees to use two access cards. To eliminate the need for a second card, Electronic Security Service deciphered the information from the garage's card and inserted it into employees' building access card file, enabling them to use one card for access to both the building garage and Southwestern Energy's offices.
"It's been three years since we began implementing our solutions. Now, over 5000 transactions take place daily at Southwestern Energy's sites which use 143 readers and over 40 panels to process them," said Michael Haner, Owner and General Manager of Electronic Security Service. "Our success is based on Clarity software's versatility which enables us to integrate existing infrastructure and other card information into our solution. With the Company's goal of drilling over 400 new wells a year, the number of employees will continue to grow, and Clarity/Insignia will easily be able to expand to meet these needs. A second important benefit is the system's ease-of use; new employee training requires only non-technical people, saving everyone time and money."
"VUANCE works through leading business partner system integrators to enable commercial enterprises, like Southwestern Energy, to use Clarity and Insignia to implement cost-effective, long-lasting solutions," stated Eyal Tuchman, Chief Executive Officer of VUANCE, Ltd. "We're proud to be working with Electronic Security Service which focuses on the clients' immediate and long-term needs, and harnesses the power and versatility of our products to service its clients."
About VUANCE Ltd.
VUANCE Ltd. develops and markets state-of-the-art security solutions for viewing, tracking, locating, credentialing, and managing essential assets and personnel. VUANCE solutions encompass electronic access control, urban security, and critical situation management systems as well as long-range Active RFID for public safety, commercial, and government sectors. The Company's comprehensive range of products enable end-to-end solutions that can be employed to successfully overcome the most difficult security challenges. Its Critical Situation Management System (CSMS) is the industry's most comprehensive mobile credentialing and access control system, designed to meet the needs of Homeland Security and other public initiatives. VUANCE is serious about security.
VUANCE Ltd. is headquartered in Rockville, MD. Its common stock is listed on the NASDAQ Capital Market and on the Euronext Exchange under the symbol "VUNC". For more information, visit http://www.vuance.com/ .
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in the Company's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by the Company.
The Company also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.
Investor/Media Contact
Jerry Cahn, Ph.D., J.D.
Target 3 Communications
Tel: 646-290-7664
Fax: 509-278-7664
Jerry@target3.com
VUANCE, Ltd.
CONTACT: Investors & Media: Jerry Cahn, Ph.D., J.D. of Target 3 Communications, +1-646-290-7664, or fax, +1-509-278-7664, Jerry@target3.com, for VUANCE, Ltd.
Web site: http://www.vuance.com/
Rockford Corporation Announces Repurchase of a Portion of Outstanding Convertible Notes and Warrants
TEMPE, Ariz., May 13 /PRNewswire-FirstCall/ -- Rockford Corporation today announced that it has repurchased $2 million face value of its outstanding Convertible Notes, and 190,000 associated Warrants, for a total price of $1.2 million.
Richard G. Vasek, Rockford's Chief Financial Officer, said "Based on our recent operating performance, we had the financial availability to accomplish this transaction. We are pleased that this repurchase will reduce by $800,000 the cash required to redeem the Notes at maturity and also help reduce the effect of possible future dilution of our common stock from a conversion of the Notes before maturity or from an exercise of the Warrants. This transaction will result in a gain in the second quarter of 2008."
Rockford entered into the original agreements to issue $12.5 million of 4.5% Convertible Senior Subordinated Secured Notes and Warrants on June 10, 2004. The Notes have a maturity date of June 10, 2009. After a previous repurchase in 2005 and this most recent repurchase, $7.5 million face amount of Notes and 771,573 associated Warrants remain outstanding.
About Rockford Corporation (http://www.rockfordcorp.com/)
Rockford is a designer, marketer and distributor of high-performance audio systems for the mobile audio aftermarket and for the OEM market. Rockford's mobile audio products are marketed primarily under the Rockford Fosgate(R), Rockford Acoustic Design(TM) and Lightning Audio(R) brand names.
Rockford's primary brand websites include: http://www.rockfordfosgate.com/, http://www.rockfordacousticdesign.com/, and http://www.lightningaudio.com/.
Forward-looking Statement Disclosure
We make forward-looking statements in this press release including but not limited to statements about our results of operations. These statements may be identified by the use of forward-looking terminology such as "may," "will," "believe," "expect," "anticipate," "estimate," "continue," or other similar words.
Forward-looking statements are subject to many risks and uncertainties. Rockford cautions you not to place undue reliance on these forward-looking statements, which speak only as at the date on which they are made. Actual results may differ materially from those anticipated in our forward-looking statements. Rockford disclaims any obligation or undertaking to update these forward-looking statements to reflect changes in our expectations or changes in events, conditions, or circumstances on which our expectations are based.
Rockford's revenues continued to decline in the first quarter of 2008, primarily attributable to continued weakness in the mobile audio aftermarket and to the elimination in 2008 of end-of-life and new product load in sales that increased sales in the same period in 2007. The U.S. retail environment for mobile audio appeared to become more difficult during 2007 and early 2008, with many retailers reporting decreases in customer traffic. Negative economic headlines, and increased gasoline prices, appear to have contributed to this difficult environment by making customers and retailers become more conservative in their spending. If sales erode more rapidly in 2008, Rockford may not be able to achieve its business objectives. In this event, Rockford could suffer setbacks in its competitive position, ability to improve its aftermarket and OEM businesses, and overall financial performance. Under such circumstances, Rockford might not be able to sustain the return of its business to profitability achieved in 2007.
When considering our forward-looking statements, you should keep in mind the risk factors and other cautionary statements identified in Rockford's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 14, 2008. The risk factors noted throughout the report, particularly those identified in the discussion in Item 1A of the report, and other risk factors that Rockford has not anticipated or discussed, could cause our actual results to differ significantly from those anticipated in our forward-looking statements.
Rockford Corporation
CONTACT: Executive Contact, Richard Vasek, Chief Financial Officer of Rockford Corporation, +1-480-517-3169
Web site: http://www.rockfordcorp.com/
Performance Technologies Expands International Signalling Reach with Bakcell Limited in the CIS RegionAzerbaijan Served with new Signalling Network using Performance Technologies' SEGway(TM) Signalling Solutions
ROCHESTER, N.Y., May 13 /PRNewswire-FirstCall/ -- Performance Technologies , a leading developer of communication platforms and systems, today announced that Bakcell Limited, a leading GSM and WiMax operator in Baku, Azerbaijan, has brought into service the company's SEGway(TM) STP Signalling Solution to assist in the rapid delivery of advanced mobile service offerings to its customers in Azerbaijan.
Bakcell is currently experiencing a period of rapid growth following recent network investments and expansion in its network coverage and capacity. Bakcell is committed to providing the best nationwide coverage in Azerbaijan and become the country's mobile operator of choice.
"Performance Technologies' SEGway Signalling Solution provides us with the flexibility to expand the core of our rapidly growing network very quickly and efficiently," said Martin Quirke, CEO of Bakcell. "Our SEGway Signalling Network will help us offer our customers new voice and data services and provides us with the ability to react to ever changing market conditions."
"We are delighted with the focused, full service support that Performance Technologies provided us for this project," said Mr. Quirke. "Due to our rapidly expanding and diverse network, we needed to work with a partner who could seize the challenge and commit to providing a completely new turnkey signalling network including the planning, delivery, installation, and complete project management and cutover of the new signalling network within only 6 weeks. This network operates using various traditional and latest technology signalling links and other management interfaces. Performance Technologies worked with our engineering team and our other network suppliers and successfully drove the project to an on-time cutover. This has helped Bakcell meet our aggressive targets for rapid service delivery."
Performance Technologies' SEGway SS7 Signalling Solutions are robust, scalable, and flexible next-generation signalling solutions that offer full routing, address translation, and screening, along with a complete set of interfaces including SIGTRAN IP that equips a service provider with any-to-any connectivity.
"We are very pleased to be selected by Bakcell as the signalling solution for their wireless network," said Cory Grant, vice president of international sales for Performance Technologies. "Their decision to utilize our proven services, technology, and advanced signalling solutions, further validates our position as the market leader in delivering the most cost-effective, comprehensive signalling platforms available today."
About Bakcell (http://www.bakcell.com/)
Bakcell Limited is a privately owned GSM mobile communications operator providing services throughout the republic of Azerbaijan. Bakcell was originally formed in 1994 as a joint venture between GTIB and the Ministry of Communication of the Azerbaijan Republic and provided analogue (ETACS) service until the introduction of GSM service in 2000. Following the completion of the company's privatization process in December 2003, Bakcell is 100% under private ownership.
About Performance Technologies (http://www.pt.com/)
Performance Technologies is a global supplier of integrated IP-based platforms and solutions for advanced communications networks and innovative computer system architectures. Our Embedded Systems Group offers robust application-ready platforms that incorporate open-standards based software and hardware, providing significantly accelerated end product deployment benefits for equipment manufacturers. Our Signalling Systems Group offers the SEGway(TM) product suite, which includes IP STPs, SS7 over IP transport solutions, and signalling gateways that enable lower operating costs through utilization of IP networks, thereby creating competitive advantages for carriers in existing and emerging markets.
Performance Technologies is headquartered in Rochester, New York. Additional engineering facilities are located in San Diego and San Luis Obispo, California, and Kanata, Ontario, Canada.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. This press release contains forward-looking statements which reflect the Company's current views with respect to future events and financial performance, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor provisions of those Sections. The Company's future operating results are subject to various risks and uncertainties and could differ materially from those discussed in the forward-looking statements and may be affected by various trends and factors which are beyond the Company's control. These risks and uncertainties include, among other factors, general business and economic conditions, rapid technological changes accompanied by frequent new product introductions, competitive pressures, dependence on key customers, inability to gauge order flows from customers, fluctuations in quarterly and annual results, the reliance on a limited number of third party suppliers, limitations of the Company's manufacturing capacity and arrangements, the protection of the Company's proprietary technology, the dependence on key personnel, changes in critical accounting estimates, potential impairments related to goodwill and investments, foreign regulations and potential material weaknesses in internal control over financial reporting. In addition, during weak or uncertain economic periods, customers' visibility deteriorates causing delays in the placement of their orders. These factors often result in a substantial portion of the Company's revenue being derived from orders placed within a quarter and shipped in the final month of the same quarter. Forward-looking statements should be read in conjunction with the audited Consolidated Financial Statements, the Notes thereto, Risk Factors, and Management's Discussion and Analysis of Financial Condition and Results of Operations of the Company as of December 31, 2007, as contained in the Company's Annual Report on Form 10-K, and other documents filed with the Securities and Exchange Commission.
The names of actual companies, products, or services may be the trademarks, registered trademarks, or service marks of their respective owners in the United States and/or other countries.
Performance Technologies
CONTACT: Will Smith, Marketing Communications Manager, Performance Technologies, +1-585-256-0200, wjs@pt.com
Web site: http://www.pt.com/ http://www.bakcell.com/
Roper Industries to Present at Electrical Products Group Investor Conference
SARASOTA, Fla., May 13 /PRNewswire-FirstCall/ -- Roper Industries, Inc. announced that it is presenting at the Electrical Products Group Investor Conference on Tuesday, May 20, 2008 at 1:15 PM ET, at The Resort at Longboat Key Club in Sarasota. A copy of the presentation and a link to the webcast presentation will be available in the "Investors" section of the Company's website at http://www.roperind.com/.
About Roper Industries
Roper Industries is a market-driven, diversified growth company with trailing twelve month revenues of $2.2 billion, and is a component of the Fortune 1000, S&P MidCap 400 and the Russell 1000 Indexes. Roper provides engineered products and solutions for global niche markets, including water, energy, radio frequency and research/medical applications. Additional information about Roper Industries is available on the Company's website at http://www.roperind.com/.
Roper Industries, Inc.
CONTACT: Investor Relations of Roper Industries, Inc., +1-941-556-2601, investor-relations@roperind.com
Web site: http://www.roperind.com/
STMicroelectronics Advances IGBT Switching Performance for Higher Efficiency and Reduced Size in Energy-Saving Ballasts and ConvertersUltra-low turn-off energy boosts efficiency and enables higher operating frequencies
GENEVA, May 13 /PRNewswire-FirstCall/ -- STMicroelectronics , a world leader in power semiconductors, has introduced IGBTs that use innovative and efficient lifetime-control techniques to reduce energy loss during turn off. New devices, including the STGxL6NC60D 600V PowerMESH(TM) IGBT, allow designers to use robust, low-cost IGBT technology in energy-sensitive circuits such as lighting ballasts operating well above 20kHz, achieving greater overall efficiency than standard-technology MOSFETs.
The improvements in switching performance also allow designers to use IGBTs highly competitive designs with hard-switching topologies as well as with resonant circuits. In addition, the lower turn-off energy allows the device to operate at low junction temperature with a small snubber capacitor, leading to greater benefits including reduced power dissipation, greater reliability and a smaller footprint.
Compared to conventional MOSFETs, ST's new IGBT technology delivers significantly better performance per die area, to enable a reduced-cost solution. As a further benefit, a co-packaged ultra-fast soft-recovery diode ensures high dV/dt immunity not achievable with other power devices. Applications for this new range of hyper-fast IGBTs include high-frequency lighting ballasts from 70W to 150W, as well as switched-mode power supplies, power-factor controllers and other high-frequency power-switching applications.
The four devices that make up the STGxL6NC60D series provide a choice of power packages, with TO-220, TO-220FP, DPAK and D2PAK options. Prices start at $0.35 for the STGPL6NC60D in the TO-220 package, for orders over five million pieces.
Further information is available at http://www.st.com/vregs
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2007, the Company's net revenues were $10 billion. Further information on ST can be found at http://www.st.com/.
STMicroelectronics
CONTACT: Michael Markowitz of STMicroelectronics, +1-212-821-8959, michael.markowitz@st.com
Web site: http://www.st.com/ http://www.st.com/vregs
Three Families From Delaware, Southeastern Pennsylvania Selected for Verizon-Sponsored Series 'My Home 2.0'Verizon Gears Up for New Season of FiOS Home-Technology MakeoversProgram Showcases Power, Potential of Verizon's All-Digital, Fiber-Optic-Powered Network and FiOS Services
PHILADELPHIA, May 13 /PRNewswire/ -- Three more families will get a complete high-tech makeover of their homes, which will be upgraded with the latest networking, home entertainment and gaming technology and products -- including Verizon's innovative FiOS services. The home-technology makeovers will become the basis for the next three episodes of the Verizon-sponsored TV show "My Home 2.0," and will air later this year.
Verizon delivers FiOS Internet and TV services over the company's all-digital, fiber-optic-powered network straight to consumers' homes -- the only company in the nation to do so on a large scale.
FiOS TV is currently available to more that 587,000 households in 200 communities in southeastern Pennsylvania and Delaware.
The recipients of this year's home-technology makeovers are two families from New Castle County, Del., and a family from Montgomery County, Pa. Each family's reaction at seeing their makeover for the first time will be captured on the TV show. The families will first see the transformation of their homes during a huge community block party after the work is completed. More than 400 people attended the first block party April 26 in Middletown, Del. Preparations are well under way for the upcoming block parties on May 17 and June 7.
Building on the success of the inaugural season of "My Home 2.0," the experiences of the three families and the technology guru hosts who perform the makeovers will be featured in blog posts, pictures and video on 2pointhome.com.
"We're thrilled to bring our all-fiber technology to more families this year -- integrating it in fun, fulfilling and entertaining ways," said Beth Mulhern, Verizon's director of consumer regional marketing in Pennsylvania and Delaware. "'My Home 2.0' brings to life the ways ultra-high-speed broadband and high-definition TV can make the homes of families large and small more fun, productive and connected."
This year, the show's technology gurus will also create and produce in their high-tech workspace exclusive technology tips and do-it-yourself, or "DIY," viral videos. The videos will highlight entertaining and adventurous projects that show how technology can take the everyday and mundane, and make it fun and useful. These videos, as well as behind-the-scenes clips of the gurus in their workspace, will also be available on 2pointhome.com.
Alison Lewis -- a professor at Parsons The New School for Design and author of the upcoming book "Switch Craft," about technology-inspired crafts and fashion -- has joined the team of gurus. Lewis will be the show's interior design, lifestyle and crafts expert, exploring themes of connecting kids and parents with gadgets, games and projects that inspire creativity.
The first season of "My Home 2.0" is currently airing on Fox affiliates in Philadelphia and Pittsburgh, on FiOS On Demand, and on 2pointhome.com. The second season is scheduled to air later this year.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Jason Chupick, Campfire Media, +1-646-710-3597, or cell +1-917-373-8803, jchupick@campfirenyc.com; or Sharon Shaffer, Verizon, +1-215-963-6200, sharon.b.shaffer@verizon.com
Web site: http://www.verizon.com/ http://2pointhome.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Merrimac Reports First Quarter 2008 ResultsQuarterly Continuing Operations Results ImproveRecord Quarter-End Backlog Exceeds $20 Million
WEST CALDWELL, N.J., May 13 /PRNewswire-FirstCall/ -- Merrimac Industries, Inc. , a leader in the design and manufacture of RF Microwave components, subsystem assemblies and micro-multifunction modules (MMFM(R)), today announced results for the first quarter 2008.
Previously reported results of operations of Filtran Microcircuits Inc. ("FMI") for the first quarter of 2007 have been reclassified and reported as discontinued operations.
Net sales from continuing operations for the first quarter of 2008 were $5,758,000, an increase of $1,247,000 or 27.6 percent compared to the first quarter of 2007 sales of $4,511,000. Net sales increased due to the higher level of orders received during 2007, including higher sales of Multi-Mix(R) products to the defense industry. First quarter 2007 sales were negatively impacted by $1,000,000 due to a problem with purchased material. The problem was resolved during the second quarter of 2007.
Gross profit for the first quarter of 2008 was $2,306,000, an increase of $609,000 or 35.9 percent, and was 40.0 percent of sales as compared to gross profit of $1,697,000 or 37.6 percent of sales for the first quarter of 2007. The increase in gross profit and gross profit percentage for the first quarter of 2008 was due to the impact of the higher level of sales allowing the Company to absorb fixed manufacturing costs.
Operating loss for the first quarter of 2008 was $(312,000) compared to an operating loss of $(1,004,000) for the first quarter of 2007. The $692,000 decrease in operating loss for the first quarter of 2008 was due to an increase in gross profit resulting from the increase in net sales, and reduced research and development costs compared to the first quarter of 2007.
Loss from continuing operations was $(372,000) or $(.13) per share for the first quarter of 2008 compared to a loss from continuing operations of $(983,000) or $(.32) per share for the first quarter of 2007.
There was no loss from discontinued operations in the first quarter of 2008 compared to a loss from discontinued operations of $(281,000) or $(.09) per share for the first quarter of 2007.
Net loss was $(372,000), or $(.13) per share on approximately 2.9 million shares outstanding for the first quarter of 2008, compared to a net loss of $(1,264,000) or $(.41) per share on approximately 3.1 million shares outstanding for the first quarter of 2007.
Orders of $8,155,000 were received during the first quarter of 2008, an increase of $2,186,000 or 36.6 percent compared to $5,969,000 in orders received during the first quarter of 2007. Backlog increased by $2,397,000 or 13.3 percent to $20,388,000 at the end of the first quarter of 2008 compared to $17,991,000 at year-end 2007. The increased orders received during the first three months of 2008 were primarily from defense industry related customers that are scheduled for shipment later in 2008 and 2009. The book-to- bill ratio for the first quarter of 2008 was 1.42 to 1 and for the first quarter of 2007 was 1.32 to 1. The orders, backlog, and book-to-bill data exclude FMI information for the first quarter of 2007.
Chairman and CEO Mason N. Carter commented, "We are pleased to report a continuation of strong incoming orders with a corresponding growth in backlog. The backlog has a favorable mix with a blended margin within our target range. We recently announced the booking of a $3.29 million contract to supply RF components to a major prime government contractor. While our first quarter operating results were disappointing, we expect a considerable improvement in second quarter operating results. Our important Multi-Mix(R) development program focused on RF Module Amplifiers for both WiMAX and UMTS wireless telecommunications segments will be providing design confirmation prototypes in the second quarter."
Mr. Carter continued, "Our financial highlights include:
-- Orders booked of $8.2 million for the first quarter of 2008, an
increase of more than 36 percent over 2007.
-- Record quarter-end backlog of $20.4 million.
-- Book-to-bill ratio of 1.42 to 1 for the first quarter of 2008.
-- Working capital of $9.8 million and current ratio of 3.9 to 1."
Investors are invited to participate in the financial results conference call on Tuesday, May 13, 2008 at 4:15 p.m. (Eastern) by dialing 1-888-215-7030 (for International callers: 1-913-981-4905) five minutes prior to the scheduled start time, and reference the Merrimac Industries first quarter 2008 conference call. For those unable to participate, a replay will be available for seven days by dialing 1-888-203-1112, or 1-719-457-0820 for international callers, passcode number 8982348.
This conference call will also be broadcast live over the internet by logging on to the web at this address:
http://www.videonewswire.com/event.asp?id=48590
If you are unable to participate during the live webcast, a link to the archived webcast will be posted on the Merrimac Industries, Inc. website http://www.merrimacind.com/ .
About Merrimac
Merrimac Industries, Inc. is a leader in the design and manufacture of RF Microwave signal processing components, subsystem assemblies, and Multi-Mix(R) micro-multifunction modules (MMFM(R)), for the worldwide Defense, Satellite Communications (Satcom), Commercial Wireless and Homeland Security market segments. Merrimac is focused on providing Total Integrated Packaging Solutions(R) with Multi-Mix(R) Microtechnology, a leading edge competency providing value to our customers through miniaturization and integration. Multi-Mix(R) MMFM(R) provides a patented and novel packaging technology that employs a platform modular architecture strategy that incorporates embedded semiconductor devices, MMICs, resistors, passive circuit elements and plated-through via holes to form a three-dimensional integrated module used in High Power, High Frequency and High Performance mission-critical applications. Merrimac Industries facilities are registered under ISO 9001:2000, an internationally developed set of quality criteria for manufacturing operations.
Merrimac Industries, Inc. has facilities located in West Caldwell, NJ and San Jose, Costa Rica and has approximately 190 co-workers dedicated to the design and manufacture of signal processing components, gold plating of high-frequency microstrip and bonded stripline Teflon (PTFE) circuits and subsystems providing Total Integrated Packaging Solutions(R) for wireless applications. Merrimac (MRM) is listed on the American Stock Exchange. Multi-Mix(R), Multi-Mix PICO(R), MMFM(R), System In A Package(R), SIP(R) and Total Integrated Packaging Solutions(R) are registered trademarks of Merrimac Industries, Inc. For more information about Merrimac Industries, Inc. please visit our website http://www.merrimacind.com/ .
This press release contains statements relating to future results of the Company (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: risks associated with demand for and market acceptance of existing and newly developed products as to which the Company has made significant investments, particularly its Multi-Mix(R) products; the possibilities of impairment charges to the carrying value of our Multi-Mix(R) assets, thereby resulting in charges to our earnings; risks associated with adequate capacity to obtain raw materials and reduced control over delivery schedules and costs due to reliance on sole source or limited suppliers; slower than anticipated penetration into the satellite communications, defense and wireless markets; failure of our Original Equipment Manufacturer or OEM customers to successfully incorporate our products into their systems; changes in product mix resulting in unexpected engineering and research and development costs; delays and increased costs in product development, engineering and production; reliance on a small number of significant customers; the emergence of new or stronger competitors as a result of consolidation movements in the market; the timing and market acceptance of our or our OEM customers' new or enhanced products; general economic and industry conditions; the ability to protect proprietary information and technology; competitive products and pricing pressures; our ability and the ability of our OEM customers to keep pace with the rapid technological changes and short product life cycles in our industry and gain market acceptance for new products and technologies; risks relating to governmental regulatory actions in communications and defense programs; and inventory risks due to technological innovation and product obsolescence, as well as other risks and uncertainties as are detailed from time to time in the Company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Mason N. Carter, Chairman & CEO
973-575-1300, ext. 1202
mnc@merrimacind.com
Merrimac Industries, Inc.
Summary of Consolidated Statements of Operations
(Unaudited)
Quarter Ended
March 29, March 31,
2008 2007(a)
Net sales $5,758,000 $4,511,000
Gross profit 2,306,000 1,697,000
Selling, general and administrative expenses 2,245,000 2,217,000
Research and development 373,000 484,000
Operating loss (312,000) (1,004,000)
Interest and other (expense) income, net (60,000) 21,000
Loss from continuing operations (372,000) (983,000)
Loss from discontinued operations - (281,000)
Net loss (372,000) (1,264,000)
Net loss per common share:
Loss from continuing operations $(.13) $(.32)
Loss from discontinued operations - $(.09)
Net loss per common share-basic and diluted $(.13) $(.41)
Weighted average number of shares
outstanding-basic and diluted 2,933,000 3,096,000
(a) In accordance with the provisions of SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets," the operating results of
Filtran Microcircuits Inc. for the prior period have been reported as
discontinued operations.
Merrimac Industries, Inc.
Condensed Consolidated Balance Sheets
March 29, 2008 December 29, 2007
(Unaudited) (Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 627,000 $ 2,004,000
Accounts receivable, net 5,797,000 5,300,000
Inventories 6,074,000 5,040,000
Other current assets 742,000 774,000
Due from assets sale contract - 664,000
Total current assets 13,240,000 13,782,000
Property, plant and equipment, net 10,690,000 10,956,000
Restricted cash - 250,000
Other assets 539,000 532,000
Deferred tax assets 52,000 52,000
Total Assets $ 24,521,000 $ 25,572,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Current liabilities:
Current portion of long-term debt $ 550,000 $ 550,000
Accounts payable 977,000 944,000
Other current liabilities 1,808,000 2,328,000
Deferred tax liabilities 52,000 52,000
Total current liabilities 3,387,000 3,874,000
Long-term debt, net of current portion 3,375,000 3,763,000
Deferred liabilities 62,000 61,000
Total liabilities 6,824,000 7,698,000
Stockholders' equity:
Common stock 33,000 33,000
Additional paid-in capital 19,985,000 19,790,000
Retained earnings 801,000 1,173,000
Treasury stock (3,122,000) (3,122,000)
Stockholders' equity 17,697,000 17,874,000
Total Liabilities and
Stockholders' Equity $ 24,521,000 $ 25,572,000
Merrimac Industries, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Quarter Ended
March 29, March 31,
2008 2007(a)
Cash flows from operating activities:
Net loss $(372,000) $(1,264,000)
Less, loss from discontinued operations - (281,000)
Loss from continuing operations (372,000) (983,000)
Adjustments to reconcile loss from continuing
operations to net cash provided by (used in)
operating activities:
Depreciation and amortization 618,000 571,000
Amortization of deferred financing costs 8,000 7,000
Share-based compensation 120,000 52,000
Changes in operating assets and liabilities:
Accounts receivable (497,000) 1,024,000
Inventories (1,034,000) (175,000)
Other current assets 32,000 246,000
Other assets (15,000) 17,000
Other current liabilities (488,000) (98,000)
Deferred liabilities 1,000 6,000
Net cash provided by (used by) operating
activities-continuing operations (1,627,000) 667,000
Net cash used by operating
activities-discontinued operations - (152,000)
Net cash provided by (used by) operating
activities (1,627,000) 515,000
Cash flows from investing activities:
Purchases of capital assets (351,000) (396,000)
Proceeds from sale of discontinued operations 664,000 -
Net cash provided by (used in) investing
activities-continuing operations 313,000 (401,000)
Net cash used in investing
activities-discontinued operations - (98,000)
Net cash provided by (used in) investing
activities 313,000 (499,000)
Cash flows from financing activities:
Repurchase of common stock for the treasury - (2,148,000)
Repayment of borrowings (388,000) (137,000)
Restricted cash returned 250,000 -
Proceeds from stock sales 75,000 51,000
Net cash provided by (used in) financing
activities-continuing operations (63,000) (2,234,000)
Net cash used in financing
activities-discontinued operations - (43,000)
Net cash provided by (used in) financing
activities (63,000) (2,277,000)
Effect of exchange rate changes - 2,000
Net increase (decrease) in cash and cash
equivalents (1,377,000) (2,259,000)
Cash and cash equivalents at beginning of
period, including $562,000 in 2007 reported
under assets held for sale 2,004,000 5,961,000
Cash and cash equivalents at end of period
including $271,000 reported under assets held
for sale in 2007 $627,000 $3,702,000
(a) In accordance with the provisions of SFAS No. 144, "Accounting for the
Impairment or Disposal of Long-Lived Assets," the operating results of
Filtran Microcircuits Inc. for the prior period have been reported as
discontinued operations.
Merrimac Industries, Inc.
CONTACT: Mason N. Carter, Chairman & CEO, Merrimac Industries, Inc., +1-973-575-1300, ext. 1202, mnc@merrimacind.com
Web site: http://www.merrimacind.com/
Company News On-Call: http://www.prnewswire.com/comp/567525.html
DBSI to Increase its Holding in Cimatron to 45%Agreement to Purchase 1,700,000 (Approx. 18%) of the Company's Shares From Koonras Technologies Demonstrates DBSI's Confidence in the Company's Potential and Management
GIVAT SHMUEL, Israel, May 13 /PRNewswire-FirstCall/ -- Cimatron Limited , a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, today announced that DBSI, one of its two major shareholders, has signed an agreement to purchase 1,700,000 (approximately 18%) of the company's shares from Koonras Technologies Ltd., the other major shareholder of the company, for $2.80 per share. The transaction is subject to the fulfillment of certain conditions and to other customary approvals. Following the transaction, DBSI will hold 4,265,950 (approximately 45%) of the Company's shares and Koonras will hold 860,360 (approximately 9%) of the company's shares.
Yossi Ben Shalom, one of the two managing partners of DBSI, and Cimatron's director, said, "This transaction reflects our confidence in the company and its management, following two years of organic growth and continued improvement in financial results, and the accretive merger transactions with Microsystem and Gibbs, that altogether positioned us well among the top ten global vendors of CAD/CAM software for manufacturing. We believe in the company's growth strategy and its business potential," concluded Mr. Ben Shalom.
About Cimatron
With over 25 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles, enable collaboration with outside vendors, and ultimately shorten product delivery time.
The Cimatron product line includes the CimatronE and GibbsCAM brands with solutions for mold design, die design, electrodes design, 2.5 to 5 axes milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining, and tombstone machining. Cimatron's subsidiaries and extensive distribution network serve and support customers in the automotive, aerospace, medical, consumer plastic |