GOTEBORG, Sweden, March 12 -- First Planet Company, developer and publisher of the largest real money Massively Multiplayer Online Game, announced today that David "Deathifier" Storey will be speaking at South By Southwest (SXSW) in Austin, Texas.
David, a veteran player of Planet Calypso, will be speaking at 12:30 on Monday, March 15th on the Entrepreneurs Building Virtual Businesses inside Online Virtual Worlds panel. This panel will allow several virtual entrepreneurs to discuss their business in different virtual worlds with strong economic systems. David will be discussing his business dealings on Planet Calypso. They will cover and compare how they got started, growth over time and the various challenges faced from traditional competition and from the unpredictable evolution of the worlds themselves.
David Storey is best known as the man who recently bought Planet Calypso's legendary Virtual Egg for a stunning $69,696.00 USD. He is also the owner of "Treasure Island" in the game and has been featured in the Guinness Book of World Records for his astounding Virtual Transactions. David purchased "Treasure Island" with hunting and mineral rights in 2004 for $26,500 USD and earned his investment back within the year.
First Planet Company is the developer and publisher of Planet Calypso, the largest real economy Massively Multiplayer Online Game in the world. Players have the ability to participate in a unique virtual world where they have no monthly costs. Its innovative real money economy uses a virtual currency which has a fixed exchange rate with the US dollar. This allows players to deposit and withdraw real funds for their adventures on Calypso or in the real world. It is also the first MMORPG to use CryTek's stunning CryENGINE 2 for amazing graphics and physics. Planet Calypso is the oldest planet in the Entropia Universe and is free to download.
First Planet Company AB is a subsidiary of the MindArk Group. First Planet Company AB develops and markets Planet Calypso, a Massively Multiplayer Online Role Playing Game (MMORPG) based on the Entropia Platform, and is part of the Entropia Universe. Set in a distant future, the Planet Calypso is home to an expanding human colony struggling with the natural and economic elements involved in establishing their new civilization.
For more information on First Planet Company (FPC) and Planet Calypso please contact us at the numbers above or go to our website at http://www.planetcalypso.com/
Source: First Planet Company
CONTACT: Frank Campbell, +46 31 607 362, fc@mindark.com, or David
Tractenberg, +1-310-453-2050, david@tractionpr.com, both for First Planet
Company
Salesforce.com Chief Financial Officer to Present at Roth Capital Growth Stock Conference
Event to be Webcast Live on salesforce.com's Investor Relations Website
SAN FRANCISCO, March 12 -- Salesforce.com (NYSE: CRM), the enterprise cloud computing company, today announced that Graham Smith, Chief Financial Officer at salesforce.com, will present at the Roth Capital Growth Conference on Monday, March 15, 2010 at 1:00 pm (PT) / 4:00 pm (ET) in Dana Point, CA.
Salesforce.com is the enterprise cloud computing company. The company's portfolio of Salesforce CRM applications, available at http://www.salesforce.com/products/, has revolutionized the ways that companies collaborate and communicate with their customers across sales, marketing and service. The company's Force.com platform (http://www.salesforce.com/platform/) helps customers, partners and developers to quickly build powerful business applications to run every part of the enterprise in the cloud. Based on salesforce.com's real-time, multitenant architecture, Salesforce CRM and Force.com offer the fastest path to customer success with cloud computing.
As of January 31, 2010, salesforce.com manages customer information for approximately 72,500 customers including Allianz Commercial, Dell, Japan Post, Kaiser Permanente, KONE, and SunTrust Banks. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM". For more information please visit http://www.salesforce.com/, or call 1-800-NO-SOFTWARE.
Copyright (c) 2010 salesforce.com, inc. All rights reserved. Salesforce and the "no software" logo are registered trademarks of salesforce.com, inc., and salesforce.com owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.
CONTACT: David Havlek, Investor Relations, +1-415-536-2171,
dhavlek@salesforce.com, or Gordon Evans, Public Relations, +1-415-536-7608,
gevans@salesforce.com, both of salesforce.com
Yayi International Inc. Opens Dedicated Online Store on Taobao.com of Alibaba Group
TIANJIN, China, March 12 -- Yayi International Inc., (BULLETIN BOARD: YYIN) ("Yayi International" or "the Company"), the first mover and a leading producer and distributor of premium goat milk formula products for infants, toddlers, young children, and adults in the People's Republic of China ("China"), today announced the launch of a flagship Internet store that distributes its goat milk products on Taobao.com, the largest online shopping marketplace in China and Asia.
In addition to providing an additional distribution channel, the online store is designed to build up the Company's image as a health-conscious dairy company, enhance its brand recognition and educate consumers regarding the benefits of goat milk. Yayi International plans to leverage the online store on Taobao.com to seek and attract both consumers as well as distributors, while creating a first-hand database to target new product launches and refine its marketing strategy.
Taobao.com is the largest online shopping destination in China with 145 million registered members as of June 2009, according to its own statistics. In the milk powder category alone, Taobao.com's sales topped RMB400 million ($58.6 million) in the second quarter of 2009, with international household brands including Abbott, Mead-Johnson and Wyeth among the top 10 brands in terms of sales volume. An online sale of milk powder is a fast-growing category, with the goat milk powder segment still remaining largely untapped.
"In our experience, fast moving consumer goods will benefit from an integration of the e-commerce platform into existing distribution methods," said Ms. Li Liu, Chief Executive Officer of Yayi International. "The online store will be one of the most efficient distribution platforms for our products. We believe utilizing the Internet as a vehicle for marketing and distribution will greatly increase sales of our goat milk powder products throughout China."
Over 120 million Chinese consumers shop online, according to officials at China Express Delivery Association, with almost 50 percent in the age group ranging from 26 through 35 years old. According to iResearch, China's online trading market reached RMB103.5 billion ($15.2 billion) in the first half of 2009, a year-on-year increase of 94.8%. Total online trading on Taobao.com reached RMB80.9 billion ($11.8 billion) for the first six months of 2009, compared to almost RMB100 billion ($14.6 billion) throughout 2008.
As part of the Alibaba Group (HKSE: 1688.HK), Taobao.com is the largest online shopping marketplace for consumers in China and Asia. With 145 million registered members as of June 2009, Taobao.com reaches an overwhelming majority of online shoppers in China. In 2007, Taobao.com's transaction volume, or gross merchandise volume (GMV), was RMB43.3 billion, up 156% year-on-year. In 2008, Taobao.com's transaction volume was close to RMB100 billion. For more information about Taobao.com, please visit the website at http://www.taobao.com/about/intro.php
About Yayi International
Yayi International is the first mover and a leading producer and distributor of premium goat milk formula products for infants, toddlers, young children and adults in China. Its current formula product lines are targeted at the premium market segment and health-conscious consumers. The Company's distribution network comprises of approximately 3,600 retail points including infant-maternity store chains, supermarkets, and drug stores as well as catalogue sales across China.
Forward-looking Statements:
This press release contains certain statements that may include 'forward-looking statements'. All statements other than statements of historical fact included herein are 'forward-looking statements'. These forward looking statements are often identified by the use of forward-looking terminology such as 'believes,' 'expects' or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915 (NY office)
Web: http://www.ccgirasia.com/
Source: Yayi International Inc.
CONTACT: Company Contact: Ms. Veronica Chen, Chief Financial Officer,
vjchen36@hotmail.com, or +86-22-2798-4358; or Investor Relations Contact:
Ms. Linda Salo, Sr. Financial Writer, linda.salo@ccgir.com, or +1-646-922-0894
(NY office); or Mr. Crocker Coulson, President, crocker.coulson@ccgir.com, or
+1-646-213-1915 (NY office)
Hughes Shares Industry Expertise at Satellite 2010
Company executives will participate in a wide range of technology and business panels throughout the conference
GERMANTOWN, Md., March 12 -- Hughes Network Systems, LLC (HUGHES), the world's leading provider of broadband satellite networks and services, announced today that its executives will share their expertise on twelve panels throughout the Satellite 2010 Conference, March 16-18, being held at the Gaylord National Convention Center, National Harbor, Maryland.
Hughes executives will provide industry insight on the following panels:
Monday, March 15:
10:00 - 10:30 am: Bernie Nelson, director, Vertical Market Development, will participate on the panel, "M2M, B2B & B2C: the State of the Art in Hybrid Service Innovation."
4:15 - 5:30 pm: Lin-Nan Lee, vice president, Engineering, will participate on the panel, "Higher Order Modulation Schemes: Trade-offs That Must Be Considered."
Tuesday, March 16:
1:30 - 2:45 pm: Sampath Ramaswami, senior director, Strategic Development, will participate on the panel, "The Markets You Can't Miss: Where Satellite Service Providers Will Place Their Bets in the Next Five Years."
3:00 - 4:15 pm: Dan Losada, senior director, Defense & Intelligence Systems Division, will participate on the panel, "Eyes in the Skies: UAVs, ISR, and Satellites."
Wednesday, March 17:
10:15 - 11:30 am: Arunas Slekys, vice president, Corporate Marketing & GM, Russia and CIS, will participate on the panel, "Eastern Europe & CIS: The Phoenix Rises."
10:15 - 11:30 am: Matthew Mohebbi, vice president of the MobileSat Group, will moderate the panel, "Creating a Mass Market for MSS: The Role of MSS Equipment Providers" and John Corrigan, senior vice president, engineering, will participate on the panel.
1:45 - 3:00 pm: Doug Medina, senior director of enterprise marketing, will participate on the panel, "SCADA/M2M - What Shades of Green?"
3:15 - 4:30 pm: Bob Kepley, senior vice president of engineering, will participate on the panel, "Advanced Satellite Coding and Modulation: A CAPEX-for-OPEX Balancing Act."
3:15 - 4:30 pm: Ramesh Ramaswamy, assistant vice president, International Division, will participate on the panel, "Middle East and Africa: From Famine to Feast?"
4:45 - 5:45 pm: Mike Cook, senior vice president, North American Division, will participate on the panel, "Beyond Satellite Broadband: The Next Generation of High Throughput Satellites (HTS)."
Thursday, March 18:
9:00 - 10:30 am: Paul Gaske, executive vice president & general manager, North American Division, will participate on the panel, "Satellite Broadband: Finally a Credible Competitor in the Marketplace."
In addition to sharing their industry expertise during the conference, Hughes will also showcase its latest technology and service innovations at Booth #1203, including a live demonstration of the satellite home of the future. Hughes will also conduct live demonstrations of its mobile technology at outdoor exhibit, #OE6.
From digital signage, to SATCOM-on-the-move, to SCADA applications and high throughput satellites, Hughes is leading the way in connecting enterprises, governments, and consumers to the future. Several Hughes executives will be available at the booth for interviews. To schedule a briefing please contact Donna Armstrong at 202-775-2650 or darmstrong@brodeur.com.
About Hughes Network Systems
Hughes Network Systems, LLC (HUGHES) is the global leader in providing broadband satellite networks and services for large enterprises, governments, small businesses, and consumers. HughesNet encompasses all broadband solutions and managed services from Hughes, bridging the best of satellite and terrestrial technologies. Its broadband satellite products are based on global standards approved by the TIA, ETSI and ITU standards organizations, including IPoS/DVB-S2, RSM-A and GMR-1. To date, Hughes has shipped more than 2.2 million systems to customers in over 100 countries.
Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes maintains sales and support offices worldwide. Hughes is a wholly owned subsidiary of Hughes Communications, Inc. (NASDAQ:HUGH). For additional information, please visit http://www.hughes.com.
Hughes and HughesNet are registered trademarks of Hughes Network Systems, LLC.
Source: Hughes Network Systems, LLC
CONTACT: Judy Blake of Hughes Network Systems, +1-301-601-7330,
Judy.blake@hughes.com; or Donna Armstrong of Brodeur for Hughes Network
Systems, +1-202-775-2650, darmstrong@brodeur.com
-- Programs from CNN/US, CNN International and HLN Available Via Mobile TV Service --
SAN DIEGO, March 12 -- FLO TV Incorporated, the company that innovated the mobile broadcast TV category, a wholly owned subsidiary of Qualcomm Incorporated (NASDAQ:QCOM), today announced it has expanded its partnership with Turner Broadcasting to bring consumers CNN Mobile, a channel that includes programming from CNN/US, CNN International and HLN, as well as CNN.com content. The channel will be available on the FLO TV(TM) Personal Television and FLO TV Auto Entertainment platforms, in addition to its current availability as part of AT&T Mobile TV.
"Live, breaking news is consistently a top performer on the FLO TV service, as people strive to stay connected to the world around them," said Jonathan Barzilay, senior vice president of programming and advertising at FLO TV. "Adding CNN Mobile to additional devices with our service is a natural fit and keeps our subscribers connected to news and analysis anytime, anywhere."
Live coverage of top U.S., world, political, health and entertainment news will be available to FLO TV subscribers through a dedicated 24/7 CNN Mobile channel, which showcases popular programming from CNN/US, CNN International and HLN - including Anderson Cooper 360, Larry King Live , Amanpour, Backstory and Morning Express with Robin Meade.
The FLO TV service is currently available on multiple platforms, including the recently launched FLO TV Personal Television, the first-ever portable digital television with a dedicated network. In collaboration with Audiovox, FLO TV also offers FLO TV Auto Entertainment, an in-vehicle entertainment system that delivers high-quality mobile TV. Additionally, iPhone(TM) and iPod touch(TM) users will soon be able to view FLO TV's live mobile TV service at the flip of a switch with the mophie(TM) juicepack TV.
Service not available everywhere. Programming subject to change / blackout restrictions. Service subscription required. "Live mobile television" means the FLO TV service transmits channels in real time; no downloading, sideloading or buffering.
About FLO TV
The FLO TV service combines the best content, an intuitive user interface and a superior multicast network to deliver a true quality TV viewing experience for consumers. FLO TV offers full-length simulcast and time-shifted programming from the world's best entertainment brands, including ABC, ABC Entertainment, ABC Family, ABC News, ABC Sports, Adult Swim Mobile, CBS, CBS College Sports, CBS News, CNBC, CNN Mobile, COMEDY CENTRAL, Disney Channel, Disney Channel Original Movies, ESPN, ESPNEWS, ESPN 2, FOX, FOX News Channel, FOX Sports, FUEL TV, msnbc, MTV, NBC 2Go, NBC News, NBC Sports, nickelodeon, Playhouse Disney and SOAPNet. Based in San Diego, Calif., FLO TV Incorporated is a wholly owned subsidiary of Qualcomm Incorporated. Further information is available at http://www.flotv.com
Qualcomm is a registered trademark of Qualcomm Incorporated. FLO and FLO TV are trademarks of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
FLO TV Contact:
Mona Klausing
Phone: 1-858-651-4268
Email: flotv.pr@flotv.com
CONTACT: Mona Klausing of FLO TV Incorporated, +1-858-651-4268,
flotv.pr@flotv.com, or Emily Kilpatrick, Corporate Communications,
+1-858-845-5959, corpcomm@qualcomm.com, or Warren Kneeshaw, Investor
Relations, +1-858-658-4813, ir@qualcomm.com, both of Qualcomm Incorporated
Harlequin Books Now Available on Nintendo DS in Japan
Harlequin is the First Non-Japanese Publisher with Titles on Nintendo DS
TORONTO and TOKYO, March 12 -- Harlequin Enterprises Limited (http://www.eHarlequin.com), a global leader in series romance and one of the world's leading publishers of women's fiction, announced today that select Harlequin books are now available on the Nintendo DS(TM) in Japan.
DS Harlequin Selection: Love Stories for Grown-Ups (literal translation of the Japanese title) consists of 33 titles by acclaimed Harlequin authors and New York Times bestselling novelists. Twenty-five of the titles have been previously published, five are new titles that will debut with the launch of DS Harlequin Selection and three titles were formerly available only as online reads.
DS Harlequin Selection: Love Stories for Grown-Ups enhances the reading experience by offering a number of interactive features accessed through easy touch screen operation -- a "concierge" that allows you to navigate stories by mood or type of heroine, character correlation charts and lists that are updated along with plot developments, narrative annotations including maps for locations, digital bookmarks, story recaps that bring readers up to where they last left off, a choice of background music, Author introductions and images, polls on hero ranking, review rankings by other users via Wi-Fi connection and more.
"We are thrilled to be the first publisher outside of Japan to have its stories available on the Nintendo DS," said Donna Hayes, Publisher and CEO of Harlequin Enterprises Limited. "DS Harlequin Selection introduces Harlequin to a new generation of readers who demand accessibility, portability and supplemental features that enhance their reading experience."
DS Harlequin Selection: Love Stories for Grown-Ups is available in Japan wherever Nintendo products are sold.
Harlequin is currently a leader in selling digital versions of its text-based books in the U.S. and Japan. The company -- which releases more than 110 titles per month -- was the first major publisher to make its complete frontlist catalog available in the eBook format. Harlequin has pursued a goal of meeting the needs of its current audience and reaching a new and diverse base of readers. It is Harlequin's ambition to offer stories to readers in all formats, for consumption at all times.
About Harlequin Enterprises
Harlequin Enterprises Limited is the global leader in series romance and one of the world's leading publishers of books for women, with titles issued worldwide in 28 languages and sold in 114 international markets. The company produces over 110 titles monthly and publishes more than 1,100 authors from around the world. Harlequin Enterprises Limited is a wholly owned subsidiary of Torstar Corporation, a broadly based media company listed on the Toronto Stock Exchange (TS.B). Harlequin's Web site is located at http://www.eHarlequin.com. Harlequin has offices in 19 countries, including offices in Toronto, New York and London. For more information please visit http://www.eHarlequin.com or press.eHarlequin.com.
Don't Miss the '7th Annual What's Next Boomer Business Summit' March 19, 2010 in Chicago Featuring the Leading Marketing Strategists for the 50+ Consumer
CHICAGO, March 12 -- Featuring the country's leading strategists for marketing to the 50+ consumer, the 7th Annual What's Next Boomer Business Summit is set for March 19, 2010 at the Hyatt Regency in Chicago. Produced by Mary Furlong & Associates and featuring such outstanding speakers as Kevin Donnellan, Executive Vice President and Chief Communications Officer of AARP, Mark Graham, Senior Vice President, iVillage.com and Dr. Stan Humphries, Chief Economist, Zillow.com, the event will focus on the most effective strategies for selling products and services to the post-recession baby boomer market .
Boomer Facts
-- 77 million baby boomers represent 28% of the U.S. population
-- Boomers were born between 1946 and 1964
-- Hold 77% of all financial assets
-- Every 7 seconds someone is turning 50
-- By 2010, 108 million people will be over 45
-- Households headed by someone 40 or older hold 91% of America's net
worth
-- Boomers constitute 35% to 38% of Internet users
The event will spotlight new research, products and services that truly represent what is next in the boomer market. The 2010 event will emphasize integrated, social and mobile marketing and new distribution channels. It also will provide a profile of business segments that have moved into the rapidly growing sector of care giving, an $800 billion market.
Navigate Boomer Media, http://www.navigateboomermedia.com the largest boomer digital ad network with 115 sites is sponsoring the "What's Next Boomer Business Summit". "This is where agency and marketing heavyweights will gather to learn more about getting their share of the $2 trillion boomers spend annually on travel, healthcare, autos and financial services. It is also an excellent venue for networking and building alliances," said Nancy Shonka Padberg, CEO Navigate Boomer Media. More information http://www.boomersummit.com. Navigate Boomer Media is offering registrants to the Summit a 20% discount by entering code MPR6.
About Navigate Boomer Media
Navigate Boomer Media, LLC http://www.navigateboomermedia.com, based in Santa Monica, California, is the largest U.S. Baby Boomer online boomer digital ad network for original rich content publishers of websites, blogs and social networking communities. Navigate Boomer Media also provides online research services to advertisers and marketers from its broad pool of active baby boomers.
Media Contact: Nancy Padberg
npadberg@navigateboomermedia.com
310-437-3813
Source: Navigate Boomer Media, LLC
CONTACT: Nancy Padberg of Navigate Boomer Media, LLC, +1-310-437-3813,
npadberg@navigateboomermedia.com
EXFO Announces Acquisition of Global Wireless Test Specialist NetHawk Oyj
QUEBEC CITY, March 12, 2010--
- NetHawk has Built a Strong Portfolio of 2G, 3G and 4G/LTE Wireless
Protocol Analyzers and Simulators Over Almost 20 Years to Assume No. 2
Position in Both Product Lines
- Acquisition Moves EXFO Among Top Five Suppliers in Telecom Test and
Service Assurance and Transforms Company Into a Global Force in the Wireless
Segment
- Deal Expected to be Neutral for Remainder of FY 2010 and Accretive in
FY 2011
EXFO Inc. (NASDAQ: EXFO, TSX: EXF) announced today the acquisition of
NetHawk Oyj ("NetHawk"), the second-largest provider of 2G, 3G and 4G/LTE
protocol analyzers and simulators for wireless network equipment
manufacturers (NEMs) and network operators, in an all-cash transaction
estimated at (euro)37.3 million for all outstanding shares on a fully diluted
basis, or (euro)27.6 million excluding NetHawk's net cash.
EXFO entered into a purchase agreement to acquire 91% of NetHawk's
outstanding shares and will purchase the remaining shares pursuant to a
statutory procedure under the Finnish Companies Act. An additional earn-out,
based on sales over the next three years, could raise the total value of the
transaction by (euro)8.7 million.
NetHawk, headquartered in Oulu, Finland, brings to EXFO almost 20 years
of wireless expertise and customer relationships. Key products consist of
protocol analyzers for protocol development, network deployment, optimization
and performance measurement as well as network simulators for load
generation, regression and functional testing. Solutions cover a wide range
of wireless technologies, namely 2G, 3G and 4G/LTE. It is estimated that
NetHawk holds the No. 2 position for both protocol analysis and network
simulation in terms of global market share, including a market-leading
position in testing high-growth 4G/LTE networks.
NetHawk has also developed a 2G, 3G and 4G/LTE service assurance
solution, based on iPro's 1G and 10G wireline stream capture and M5's deep
protocol and KPI analysis, to focus on testing the core and radio access
networks of a wireless telecommunications infrastructure. This offering is
highly complementary to EXFO's BrixCall, BrixNGN and BrixVision suite of
highly scalable service assurance solutions for active and passive monitoring
of the application layer on next-generation IP networks.
Frost and Sullivan, a global growth consulting company, forecasts the
Protocol Analyzer and Network Monitoring Market for wireless networks will
grow from US$595.2 million in 2008 to US$814.2 million in 2013. The LTE Test
Equipment Market is expected to increase at a compound annual growth rate of
56.0% during this period. NetHawk's total addressable market is currently
estimated at US$610 million.
"This acquisition represents a defining milestone in EXFO's near 25-year
history, since it not only transforms us into a global force in wireless
testing, but it also moves us among the top five suppliers in the telecom
test and service assurance industry with more than 1,600 employees in 25
countries supporting in excess of 2,000 customers," said Germain Lamonde,
EXFO's Chairman, President and CEO. "NetHawk's excellent positioning for the
high-growth 3G and 4G/LTE test markets and strong customer relationships
forged over almost 20 years underlie the rationale behind this deal. Joining
forces makes the new EXFO far more relevant to global network operators and
NEMs, as we can now offer one of the most advanced and complete product
portfolios for both fixed and mobile networks. In a nutshell, I'm confident
the whole is far greater than the sum of the parts and we intend to press
forward on our long-term strategy to deliver growth in revenues and earnings.
I'm pleased to welcome the entire NetHawk staff to the EXFO family."
"We're genuinely pleased to become a part of EXFO, a world-class
organization which like NetHawk has a proven history of innovation and
all-around execution," said NetHawk CEO Hannu Huttunen. "EXFO's global brand
reputation and market presence, combined with our deep wireless knowledge and
customer relationships, are sure to jointly carry us to new heights as the
industry undergoes accelerated 3G deployment and LTE adoption to cope with
explosive bandwidth demand largely created by smart phones."
NetHawk posted revenue of (euro)28.5 million and EBITDA of (euro)4.2
million for the fiscal year ended December 31, 2009. (EBITDA is defined as
net earnings before interest, taxes, depreciation and amortization). EXFO
plans to retain NetHawk's management, R&D, sales and marketing teams of
approximately 370 employees mainly located in Finland, India and the United
States. Revenue from NetHawk will be recognized as part of EXFO's protocol
business, under its Telecom Division.
The acquisition is expected to be neutral for the remainder of fiscal
2010 and accretive in fiscal 2011, excluding after-tax amortization of
intangible assets and stock-based compensation costs.
Conference Call
EXFO will host a conference call today at 8:30 a.m. (Eastern time) to
discuss the details of the NetHawk acquisition. To listen to the conference
call and participate in the question period via telephone, North American and
International callers can dial 1-416-981-9037. An audio replay of the
conference call will be available one hour after the end of the event until
10:30 a.m. (Eastern time) on March 19, 2010. The replay number is
1-402-977-9141 and the reservation number is 21463032. The live audio Webcast
and replay of the conference call will also be available at http://www.EXFO.com/investors.
Acquisition Microsite
EXFO has created a special microsite related to the NetHawk acquisition.
It contains a video from Mr. Lamonde to various stakeholders, as well as
other pages outlining the rationale, benefits and financials of the deal. Go
to http://www.EXFO.com/NetHawk to gain access to all the details.
About NetHawk
Founded in 1991, NetHawk is one of the leading worldwide providers of
analyzers, simulators and monitoring systems. NetHawk products and systems
are used in the development and operation of telecommunications networks by
leading communications equipment manufacturers and operators worldwide.
NetHawk employs about 370 specialists who focus on the development,
production, sales and marketing of testing tools for converging networks.
Headquartered in Oulu, Finland, NetHawk has local offices in Sweden, Germany,
France, India, Singapore, China, and the United States. In addition, a wide
network of distributors ensures local service all over the world.
About EXFO
EXFO is a leading provider of next-generation test and service assurance
solutions for wireless and wireline network operators and equipment
manufacturers in the global telecommunications industry. The Telecom
Division, which accounts for more than 90% of the company's revenues, offers
core-to-edge solutions that assess the performance and reliability of
converged, IP fixed and mobile networks. Key technologies supported include
3G, 4G/LTE, IMS, Ethernet, OTN, xDSL, and various optical technologies
accounting for an estimated 33% of the portable fiber-optic test market. The
Life Sciences and Industrial Division provides solutions in medical device
and opto-electronics assembly, fluorescence microscopy and other life science
sectors. EXFO has a staff of approximately 1,600 people in 25 countries,
supporting more than 2,000 customers worldwide. For more information, visit http://www.EXFO.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995, and we intend
that such forward-looking statements be subject to the safe harbors created
thereby. Forward-looking statements are statements other than historical
information or statements of current condition. Words such as may, will,
expect, believe, anticipate, intend, could, estimate, continue, or the
negative or comparable terminology are intended to identify forward-looking
statements. In addition, any statements that refer to expectations,
projections or other characterizations of future events and circumstances are
considered forward-looking statements. They are not guarantees of future
performance and involve risks and uncertainties. Actual results may differ
materially from those in forward-looking statements due to various factors
including the effect of the worldwide recession and the length of the
recovery on the telecom market for our customers and suppliers; fluctuating
exchange rates and our ability to execute in these uncertain conditions;
consolidation in the global telecommunications test, measurement and service
assurance industry; capital spending levels in the telecommunications, life
sciences and high-precision assembly sectors; concentration of sales; the
effects of the additional actions we have taken in response to such economic
uncertainty (including our ability to quickly adapt cost structures with
anticipated levels of business, ability to manage inventory levels with
market demand); market acceptance of our new products and other upcoming
products; limited visibility with regards to customer orders and the timing
of such orders; our ability to successfully integrate our acquired and
to-be-acquired businesses; our ability to successfully expand international
operations; the retention of key technical and management personnel; and
future economic, competitive, financial and market condition. Assumptions
relating to the foregoing involve judgments and risks, all of which are
difficult or impossible to predict and many of which are beyond our control.
Other risk factors that may affect our future performance and operations are
detailed in our Annual Report, on Form 20-F, and our other filings with the
U.S. Securities and Exchange Commission and the Canadian securities
commissions. We believe that the expectations reflected in the
forward-looking statements are reasonable based on information currently
available to us, but we cannot assure you that the expectations will prove to
have been correct. Accordingly, you should not place undue reliance on these
forward-looking statements. These statements speak only as of the date of
this document. Unless required by law or applicable regulations, we undertake
no obligation to revise or update any of them to reflect events or
circumstances that occur after the date of this document.
For further information: Vance Oliver, Manager of Investor Relations,
EXFO, +1-418-683-0913, Ext. 3733, vance.oliver@exfo.com; Maryse Brodeur,
Media Planner, EXFO, +1-418-683-0913, Ext. 3429, maryse.brodeur@exfo.com
Source: EXFO Inc.
For further information: Vance Oliver, Manager of Investor Relations, EXFO, +1-418-683-0913, Ext. 3733, vance.oliver@exfo.com; Maryse Brodeur, Media Planner, EXFO, +1-418-683-0913, Ext. 3429, maryse.brodeur@exfo.com
Acorn International Reports Fourth Quarter and Full Year 2009 Financial Results
SHANGHAI, March 12 -- Acorn International, Inc. (NYSE:ATV) ("Acorn" or the "Company"), a leading integrated multi-platform marketing company in China engaged in developing, promoting and selling consumer products and services through an extensive distribution network, today announced its unaudited financial results for the quarter and full year ended December 31, 2009.
Highlights for the Fourth Quarter 2009:
-- Net revenues were $59.7 million, an increase of 2.6% compared to
$58.2 million in the fourth quarter of 2008.
-- Gross profit was $28.9 million, an increase of 20.7% compared to
$23.9 million in the fourth quarter of 2008.
-- Gross margin was 48.3%, compared to 41.1% in the same period of 2008.
-- Operating loss was $14.7 million, compared to an operating loss of
$12.3 million in the fourth quarter of 2008. Excluding share-based
compensation expenses and impairment of intangible assets (non-GAAP),
income from operations for the fourth quarter of 2009 was $0.6 million
compared to an operating loss of $12.6 million for the same period last
year.
-- Impairment losses of $15.2 million was recognized for the intangibles
assets from the acquisition of Yiyang Yukang, which was primarily
caused by (i) overall under-performance in the mobile handsets business
and (ii) a change in business strategy to launching proprietary "Uking"
brand and changes incurred in the acquired distribution network.
-- Net loss from continuing operations was $10.0 million compared to a net
loss of $10.4 million for the fourth quarter of 2008. After eliminating
the effects of share-based compensation expenses, a non-cash charge for
the impairment of intangible assets and a reversal of deferred tax
liability of $3.3 million due to the Yiyang Yukang intangible assets
impairment charge (non-GAAP), net income from continuing operations was
$2.0 million in the fourth quarter of 2009 compared to a non-GAAP net
loss of $10.7 million in the same period last year.
-- Net loss attributable to Acorn was $10.1 million compared to a
$9.4 million net loss for the fourth quarter of 2008.
-- Share-based compensation expenses were $7,873 for the fourth quarter of
2009, compared to a net negative $0.3 million for the same period last
year.
-- Diluted loss per American Depositary Shares ("ADS") from continuing
operations was $0.34. Excluding share-based compensation and non-cash
impairment expenses and related deferred tax benefits (non-GAAP),
diluted income per ADS from continuing operations was $0.06.
Highlights for Full Year 2009:
-- Net revenues were $287.6 million, an increase of 22.8% compared to
$234.1 million for full year 2008.
-- Gross profit was $137.0 million, an increase of 20.7% compared to
$113.5 million for full year 2008.
-- Gross margin was 47.6%, compared to 48.5% in for full year 2008.
-- Operating loss was $7.5 million (including an impairment of
$15.2 million for intangible assets recognized from the acquisition of
Yiyang Yukang), compared to an operating loss of $29.6 million for full
year 2008 (including an impairment of goodwill and intangible assets of
$8.7 million). After eliminating share-based compensation expenses and
impairment losses on goodwill and intangible assets (non-GAAP),
operating income for 2009 was $9.6 million, compared to an operating
loss of $17.6 million for 2008.
-- Net loss from continuing operations was $2.7 million compared to a
$30.2 million net loss for full year 2008. After eliminating the
effects of share-based compensation expenses, a non-cash charge for the
impairment of goodwill and intangible assets and a reversal of deferred
tax liability due to the Yiyang Yukang intangible assets impairment
charge (non-GAAP), net income from continuing operations was
$11.1 million in 2009 compared to an $18.3 million net loss in 2008.
-- Net income attributable to Acorn was $12.4 million compared to a
$25.6 million net loss for full year 2008.
-- Share-based compensation expenses were $1.8 million for full year 2009,
compared to $3.3 million for full year 2008.
-- Diluted loss per ADS from continuing operations was $0.08. Excluding
share-based compensation, non-cash impairment expenses and related
deferred tax benefits (non-GAAP), diluted income per ADS from
continuing operations was $0.38.
"2009 marked a significant turnaround for our business as we grew top line sales by 22.8% to reach $287.6 million and achieved $11.1 million in non-GAAP net income from continuing operations. The healthy turnaround was largely attributed to the successful implementation of our renewed focus to grow our proprietary branded products and expand the proportion of our non-TV direct sales business such as outbound calls, e-commerce, catalog and third party bank channel sales. While our mobile phone sales tracked slower than expected, we reported strong performance across our other major product lines. Ozing and Meijin both reported double digit growth in 2009 while sales of cosmetics products as a featured product category grew quarter over quarter and contributed favorably towards our profit. Finally, we made a positive breakthrough in autocare products as we began cooperation with two internationally acclaimed products in China in the fourth quarter 2009," said Mr. James Hu, Chairman and CEO of Acorn. "Our financial achievements in 2009 testify as to our resilience in an intensely competitive industry and our prospects for continued growth in 2010."
Business Highlights for the Fourth Quarter of 2009:
-- Cosmetics sales accounted for a larger percentage of our total sales
for the fourth quarter 2009 compared with same period last year.
Cosmetics sales reached $14.5 million, accounting for 24.2% of our
total sales, compared to $4.7 million, or 7.6% of total sales in the
same period in 2008. The growth was mainly due to the strong
performance of the Company's Softto branded hair treatment shampoo
product, launched in the third quarter 2009.
-- Autocare products were also a major revenue contributor in the fourth
quarter 2009. Sales from autocare products reached $5.6 million, or
9.4% of total sales, compared to $1.1 million, or 1.8% of total sales
in the same period in 2008. The growth primarily driven by the launch
of Austin and Quixx branded products, both of which are used for paint
protection and scratch removal. We introduced our Austin product,
licensed from the United Kingdom, in November 2009 and our Quixx
product, developed in and licensed from Germany, in December 2009.
-- Non-TV direct sales accounted for 46% of total direct sales for the
fourth quarter of 2009 compared with 29% for the same period last year.
The Company's third-party bank channel sales as part of non-TV direct
sales revenues continued to expand from the third quarter of 2009. With
a total of 26 bank partners as of December 31, 2009 (compared to 12 as
of December 31, 2008), revenue generated from third-party bank channel
sales was $10.6 million in the fourth quarter of 2009, an increase of
71.0% from $6.2 million in the same period last year. The Company will
continue to expand its non-TV direct sales revenues, including its
third party bank channel sales, e-commerce, outbound calls and catalog
business.
Financial Results Highlights for the Fourth Quarter of 2009:
For the fourth quarter of 2009, total net revenues grew 2.6% to $59.7 million from $58.2 million for the fourth quarter of 2008.
Direct sales contributed 71.4% to total net revenue, or $42.6 million, and decreased 8.3% from $46.5 million for the fourth quarter of 2008. Gains from increased cosmetic sales and recently introduced autocare products were offset by decreased mobile phone and posture correction product sales.
Distribution sales net revenue increased 45.6% year-over-year to $17.1 million from $11.7 million in the fourth quarter of 2008, primarily reflecting strong sales of the Company's Ozing electronic learning products and consolidation of Yiyang Yukang's mobile handset sales into the Company's financial results.
The table below summarizes the gross revenues from the three best selling product categories for the direct sales platform, distribution network and total direct and distribution sales, respectively:
Three Months Ended December 31, 2009
(in US dollars)
Direct sales
Cosmetics 14,141,076
Mobile handsets 7,395,785
Autocare product (Energy) 5,292,673
Distribution sales
Electronic learning product (Ozing) 7,837,456
Electronic dictionary (Meijin) 2,824,120
Mobile handsets (Yiyang Yukang) 2,485,533
Total direct and distribution sales
Cosmetics 14,452,761
Mobile handsets 9,881,318
Electronic learning product (Ozing) 9,264,986
Cost of sales for the fourth quarter 2009 was $30.8 million, a 10.0% decrease from $34.3 million for the fourth quarter of 2008, primarily due to the change of the composition of the products sold in the fourth quarter of 2009.
Gross profit for the fourth quarter of 2009 was $28.9 million, up 20.7% compared to $23.9 million for the fourth quarter of 2008. Gross margin was 48.3% in the fourth quarter of 2009, up from 41.1% in the same period in 2008.
Gross profit from direct sales for the fourth quarter 2009 increased 18.1% to $23.9 million from $20.3 million for the fourth quarter of 2008. Gross margin for direct sales for the fourth quarter of 2009 was 56.2%, up from 43.6% in the same period last year. The increase in gross margin was largely due to greater contribution from sales of higher margin cosmetics and autocare products in the fourth quarter 2009.
Gross profit from distribution sales for the fourth quarter of 2009 was $4.9 million, an increase of 35.3% from $3.6 million for the fourth quarter of 2008. Gross margin for distribution sales for the fourth quarter of 2009 was 28.9%, down from 31.0% for the same period last year. The decrease in gross margin was due to the addition of lower margin mobile handset sales from the consolidation of Yiyang Yukang into the Company's financial statements.
Advertising expenses were $14.0 million for the fourth quarter of 2009, compared to $19.0 million for the fourth quarter of 2008 due to continued reduction in the fixed portion of advertising spending in 2009. Gross profit over advertising expenses, a benchmark Acorn uses to measure return on multiple sales platforms, was 2.07 in the fourth quarter of 2009, up from 1.26 in the fourth quarter of 2008.
Other selling and marketing expenses decreased 0.2% to $10.5 million from $10.6 million for the fourth quarter of 2008.
General and administrative expenses were $5.8 million for the fourth quarter of 2009, a 28.5% decrease from $8.1 million in the fourth quarter of 2008. The decrease was largely due to the decline in bad debts in the fourth quarter of 2009.
During the fourth quarter 2009, impairment loss of $15.2 million was recognized for the intangible assets from the acquisition of Yiyang Yukang. No such impairment charges occurred in the fourth quarter 2008. In addition, as result of the Yiyang Yukang intangible assets impairment charge, the Company reversed a $3.3 million deferred tax liability in the fourth quarter 2009.
Other operating income, net, was $2.0 million for the fourth quarter of 2009, up from $1.4 million in the fourth quarter of 2008.
As a result, operating loss for the fourth quarter of 2009 was $14.7 million, compared to an operating loss of $12.3 million for the corresponding period last year.
Share-based compensation expenses for the fourth quarter 2009 were $7,873, compared to a net negative $0.3 million share-based compensation expenses as a result of the adjustments for the forfeited share options and share appreciation rights for the fourth quarter of 2008.
After eliminating share-based compensation expenses and impairment of intangible assets (non-GAAP), income from operations for the fourth quarter of 2009 was $0.6 million compared to an operating loss of $12.6 million for the same period last year.
Net loss from continuing operations was $10.0 million compared to a $10.4 million net loss for the fourth quarter of 2008.
Non-GAAP net income from continuing operations, after eliminating the effects of share-based compensation expenses, a non-cash charge for the impairment of intangible assets and a reversal of deferred tax liability due to impairment of intangible assets for Yiyang Yukang, was $2.0 million in the fourth quarter of 2009 compared to a $10.7 million net loss for the same period last year.
Diluted loss per ADS from continuing operations was $0.34, compared to a diluted loss per ADS from continuing operations of $0.35 in the same period last year. Non-GAAP diluted income per ADS from continuing operations was $0.06, compared to a diluted loss per ADS from continuing operations of $0.36 in the same period last year.
As of December 31, 2009, Acorn's cash and cash equivalents totaled $143.0 million, a decrease of $7.4 million from September 30, 2009.
Other Updates:
In December 2009, the Company's board of directors approved and declared a one-time special cash dividend of $0.33 per ordinary share on its outstanding shares to shareholders of record as of the close of trading on December 31, 2009 directly from the share premium account of the Company. Holders of ADS, each representing three ordinary shares of Acorn, are accordingly entitled to the one-time special cash dividend of $0.99 per ADS. Citibank, depositary for Acorn's ADR program, paid out dividends to ADS holders on January 20, 2010.
In November 2009, Acorn reached an exclusive distribution agreement with Guthy-Renker to market Sheer Cover(R) cosmetics in China. Under the distribution agreement, Acorn is Guthy-Renker's exclusive agent to market and distribute Sheer Cover branded cosmetics products in China. Acorn is authorized to distribute the Sheer Cover branded cosmetics products through all its available distribution channels including both TV and non-TV direct sales. The distribution agreement initially lasts one year and, subject to first-year sales performance, may be extended.
Fiscal Year 2009 Financial Results:
Total net revenues for 2009 were $287.6 million, up 22.8% from $234.1 million in 2008.
Direct sales net revenues in 2009 were $160.4 million, down 3.9% from $166.9 million in 2008. The decrease reflects a decline in TV direct sales following a reduction in advertising expenditures across products partially offset by growth in non-TV direct sales.
Distribution net revenues in 2009 reached $127.2 million, up 89.4% from $67.2 million in 2008, primarily because of the strong sales performance of the Company's Ozing electronic learning products and consolidation of Yiyang Yukang's mobile handset sales into the Company's financial results.
The table below summarizes the gross revenues from the three best selling product categories for the direct sales platform, distribution network and total direct and distribution sales, respectively:
Year Ended December 31, 2009
(in US dollars)
Direct sales
Cosmetics 44,182,210
Mobile handsets 33,178,583
Electronic learning product (Ozing) 21,861,689
Distribution sales
Electronic learning product (Ozing) 65,102,545
Mobile handsets (Yiyang Yukang) 28,097,927
Electronic dictionary (Meijin) 18,223,486
Total direct and distribution sales
Electronic learning product (Ozing) 86,964,234
Mobile handsets 61,276,510
Cosmetics 45,149,282
Cost of sales for 2009 was $150.6 million, an increase of 24.9% from $120.6 million for 2008. The increase in cost of sales was primarily driven by increased costs for distribution sales, reflecting a larger percentage of mobile phone sales which generally have higher products costs.
Gross profit for 2009 was $137.0 million, an increase of 20.7% compared to $113.5 million for 2008. Gross margin was 47.6% for 2009, down from 48.5% for 2008.
Gross profit from direct sales for 2009 increased 11.0% to $92.8 million from $83.6 million for 2008. Gross margin for direct sales for 2009 was 57.9%, an increase from 50.1% for 2008. The increase in gross margin was largely due to increased sales of higher margin cosmetics products in 2009.
Gross profit from distribution sales for 2009 was $44.1 million, up 47.8% from $29.9 million for 2008. Gross margin for distribution sales for 2009 was 34.7%, down from 44.4% for 2008. The decrease in gross margin primarily reflects (i) margin compression of Ozing and Meijin products due to increased discounts to Acorn's distributors in 2009 and increased flash memory costs beginning in the third quarter of 2009 (flash is a key Ozing component) and (ii) lower margin mobile handset sales from the consolidation of Yiyang Yukang into the Company's financial statements.
Advertising expenses were $61.0 million for 2009 compared to $73.4 million for 2008. The lower advertising expenses reflect the Company's strategy in 2009 to grow proprietary branded products and improve media efficiency by reducing the fixed portion of advertising spending. Gross profit over advertising expenses was 2.24 for 2009, up from 1.55 in 2008.
Other selling and marketing expenses increased 12.1% to $43.0 million for 2009 from $38.3 million for 2008. The increase was mainly due to increased amortization of acquired intangibles assets following the Yiyang Yukang acquisition.
General and administrative expenses were $31.2 million for 2009, a 12.4% increase from $27.7 million for 2008, primarily reflecting an increase in employee payroll and R&D expenses in 2009.
Goodwill and intangible assets impairment loss totaled $15.2 million for 2009 compared to $8.7 million in 2008. In 2009, the Company also reversed $3.3 million deferred tax liability due to the impairment charge of goodwill and intangible assets.
Other operating income, net, was $6.0 million for 2009, up 19.2% from $5.0 million for 2008.
Operating loss for 2009 was $7.5 million (including the $15.2 million Yiyang Yukang intangible assets impairment charge), compared to an operating loss of $29.6 million for 2008 (including $8.7 million impairment losses on goodwill and intangible assets).
Share-based compensation expenses for 2009 were $1.8 million, compared to $3.3 million for 2008.
After eliminating share-based compensation expenses and impairment losses on goodwill and intangible assets (non-GAAP), income from operations for 2009 was $9.6 million, compared to an operating loss of $17.6 million for 2008.
Net loss from continuing operations was $2.7 million compared to a $30.2 million net loss for 2008.
Non-GAAP net income from continuing operations, after eliminating the effects of share-based compensation expenses, a non-cash charge for the impairment of goodwill and intangible assets and a reversal of deferred tax liability due to impairment of intangible assets for Yiyang Yukang, was $11.1 million for 2009 compared to a $18.3 million net loss for 2008.
Diluted loss per ADS from continuing operations was $0.08, compared to a diluted loss per ADS from continuing operations of $1.03 in 2008. Non-GAAP diluted income per ADS from continuing operations was $0.38, compared to a diluted loss per ADS from continuing operations of $0.62 in 2008.
Full Year 2010 Business Outlook:
"Our financial achievements in 2009 demonstrated we took the right direction in growing our business. Despite the shortfall in our mobile phone business, which we expect to slowly improve in 2010, we are pleased with our financial performance in 2009. Taking advantage of continued recovery from the economic crisis and strong retails sales in China, we expect to continue to focus on growing our proprietary branded products such as Ozing and Meijin, developing our continuity business led by cosmetics, expanding non-TV direct sales to lessen reliance on advertising expenditures and, lastly, improving sales in the autocare product segment," said Mr. James Hu, Chairman and CEO of Acorn International. "While there will be challenges ahead, we are well positioned to deliver consistent growth in 2010 and to remain a market leader in the marketing and distribution of branded products in China."
For fiscal year 2010, the Company expects to reach revenue between $290 million and $310 million and net income from continuing operations (excluding share-based compensation expenses) to be between $12 million and $14 million.
These estimates are subject to change. Also, Acorn reminds investors that its operating results in each period are impacted significantly by the mix of products and services sold in the period and the platforms through which they are sold. Consequently, in evaluating the overall performance of Acorn's multiple sales platforms in any period, management also considers metrics such as operating margin and gross profit return on advertising expenses.
Conference Call Information
The Company will host a conference call at 8:00 a.m. ET on March 12, 2010 (9:00 p.m. Beijing Time) to review the Company's financial results and answer questions. You may access the live interactive call via:
A live and archived webcast of the call will be available on the Company's website at http://www.ir-site.com/acorn/index.asp . To listen to the live webcast, please go to the Company's website at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software.
About Acorn International, Inc.
Acorn is a leading integrated multi-platform marketing company in China, operating one of China's largest TV direct sales businesses in terms of revenues and TV air time and a nationwide off-TV distribution network. Acorn's TV direct sales platform consists of airtime purchased from both national and local channels. In addition to marketing and selling through its TV direct sales programs and its off-TV nationwide distribution network, Acorn also offers consumer products and services through catalogs, third-party bank channels, outbound telemarketing center and an e-commerce website. Leveraging its integrated multiple sales and marketing platforms, Acorn has built a proven track record of developing and selling proprietary-branded consumer products, as well as products and services from established third parties. For more information, please visit http://www.chinadrtv.com/ .
Use of Non-GAAP Financial Measures
Acorn has reported the fourth quarter and full year 2009 and 2008 income from operations, operating margin, net income from continuing operations and income per ADS from continuing operations on a non-GAAP basis, excluding share-based compensation expenses and non-cash charges for the impairment of goodwill and intangible assets and a related reversal of a deferred tax liability. Acorn believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing Acorn's financial performance and liquidity and when planning and forecasting future periods. These non-GAAP operating measures are useful for understanding and assessing Acorn's underlying business performance and operating trends and Acorn expects to report income from operations, operating margin, net income from continuing operations and income per ADS from continuing operations on a non-GAAP basis using a consistent method on a quarterly basis going forward.
Readers are cautioned not to view non-GAAP results on a stand-alone basis or as a substitute for results under GAAP, or as being comparable to results reported or forecasted by other companies, and should refer to the following reconciliation of GAAP results with non-GAAP results for the three and twelve months ended December 31, 2009 and 2008, respectively.
The table below sets forth the reconciliation of non-GAAP measures to GAAP measures for the indicated periods:
ACORN INTERNATIONAL, INC.
RECONCILIATION OF NON-GAAP TO GAAP
(in US dollars)
Three Months Ended Years Ended
December 31, December 31,
2008 2009 2008 2009
GAAP net revenues 58,193,549 59,700,692 234,137,421 287,585,620
GAAP loss from
operations (12,306,501) (14,653,833) (29,563,602) (7,486,057)
GAAP operating
margin (21.1)% (24.5)% (12.6)% (2.6)%
Impairment of
goodwill and
intangible assets -- 15,247,873 8,667,961 15,247,873
Reversal of
deferred tax
liability due to
impairment of
intangible assets -- 3,268,472 -- 3,268,472
Share-based
compensation
expenses (273,173) 7,873 3,289,232 1,845,885
Non-GAAP income
(loss) from
operations (12,579,674) 601,913 (17,606,409) 9,607,701
Non-GAAP
operating
margin (21.6)% 1.0% (7.5)% 3.3%
GAAP net loss
from continuing
operations
attributable to
Acorn (9,995,894) (10,098,351) (29,810,919) (2,435,224)
GAAP loss per ADS
from continuing
operations -
basic (0.35) (0.34) (1.03) (0.08)
GAAP loss per ADS
from continuing
operations -
diluted (0.35) (0.34) (1.03) (0.08)
Non-GAAP net
income (loss)
from continuing
operations
attributable to
Acorn (10,269,067) 1,888,923 (17,853,726) 11,390,062
Non-GAAP income
(loss) per ADS
from continuing
operations -
basic (0.36) 0.06 (0.62) 0.39
Non-GAAP income
(loss) per ADS
from continuing
operations -
diluted (0.36) 0.06 (0.62) 0.38
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements," including, among other things, Acorn's anticipated operating results for 2010; benefits of continuing focus on Acorn's proprietary branded products, ability of Acorn's profits to continue to recover from previous quarters; continued success of Acorn's Ozing electronic learning products and Meijin electronic dictionary; expectations regarding development and increasing cosmetics revenues and developing a continuity business, the anticipated benefits of the Gunthy-Renker distribution and Softto distribution arrangements, increasing non-TV direct sales revenues; and expectation regarding improved sales in the newly launched autocare products. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and financial condition and other circumstances may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. In particular, our operating results for any period are impacted significantly by the mix of products and services sold by us in the period and the platforms through which they are sold, causing our operating results to fluctuate and making them difficult to predict.
Other factors that could cause forward-looking statements to differ materially from actual future events or results include risks and uncertainties related to: our ability to effectively consolidate our distribution channels, our ability to successfully introduce new products and services, including to offset declines in sales of existing products and services; our ability to stay abreast of consumer market trends and maintain our reputation and consumer confidence; continued access to and effective usage of TV advertising time and pricing related risks; relevant government policies and regulations relating to TV media time and TV direct sales programs, including the new SARFT regulations and actions that may make TV media time unavailable to us or require we suspend or terminate a particular TV direct sales program; rising costs in key components of our products, such as flash memory, potential unauthorized use of our intellectual property; potential disruption of our manufacturing process; increasing competition in China's consumer market; our U.S. tax status as a passive foreign investment company; and general economic and business conditions in China. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in our 2008 annual report on Form 20-F filed with Securities and Exchange Commission on April 24, 2009. For a discussion of other important factors that could adversely affect our business, financial condition, results of operations and prospects, see "Risk Factors" beginning on page 6 of our Form 20-F for the fiscal year ended December 31, 2008. Our actual results of operations for the fourth quarter and full year 2009 are not necessarily indicative of our operating results for any future periods. Any projections in this release are based on limited information currently available to us, which is subject to change. Although such projections and the factors influencing them will likely change, we will not necessarily update the information. Such information speaks only as of the date of this release.
For further information, please contact:
Acorn International, Inc.
Ms. Chen Fu, IR Director
Phone: +86-21-51518888 Ext. 2228
Email: fuchen@chinadrtv.com
Web: http://www.chinadrtv.com/
CCG Investor Relations
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http:/// http://www.ccgirasia.com
ACORN INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In US dollars, except share data)
Three Months Ended Years Ended
December 31, December 31,
2008 2009 2008 2009
Revenues:
Direct sales,
net 46,452,107 42,608,865 166,947,475 160,357,948
Distribution
sales, net 11,741,442 17,091,827 67,189,946 127,227,672
Total revenues,
net 58,193,549 59,700,692 234,137,421 287,585,620
Cost of revenues:
Direct sales 26,181,263 18,678,392 83,300,736 67,530,966
Distribution
sales 8,096,196 12,160,099 37,326,214 83,096,932
Total cost of
revenues 34,277,459 30,838,491 120,626,950 150,627,898
Gross profit 23,916,090 28,862,201 113,510,471 136,957,722
Operating income
(expenses):
Advertising
expenses (18,950,708) (13,959,426) (73,381,193) (61,048,515)
Other selling
and marketing
expenses (10,565,714) (10,546,160) (38,317,161) (42,955,923)
General and
administrative
expenses (8,126,052) (5,812,510) (27,746,833) (31,195,949)
Impairment of
goodwill and
intangible -- (15,247,873) (8,667,961) (15,247,873)
assets
Other operating
income, net 1,419,883 2,049,935 5,039,075 6,004,481
Total operating
income
(expenses) (36,222,591) (43,516,034)(143,074,073)(144,443,779)
Loss from
operations (12,306,501) (14,653,833) (29,563,602) (7,486,057)
Other income
(expenses), net 617,075 1,038,070 (667,297) 2,216,006
Loss before
income taxes (11,689,426) (13,615,763) (30,230,899) (5,270,051)
Income tax
(expenses)
benefits 1,297,271 3,626,202 (4,968) 2,539,265
Net loss from
continuing
operations (10,392,155) (9,989,561) (30,235,867) (2,730,786)
Net income from
discontinued
operations 1,151,980 -- 8,273,629 15,362,689
Net income
(loss) (9,240,175) (9,989,561) (21,962,238) 12,631,903
Net (income)
loss attributable
to non-
controlling
interests (168,209) (108,790) (3,629,131) (184,019)
Net income (loss)
attributable to
Acorn
International,
Inc. (9,408,384) (10,098,351) (25,591,369) 12,447,884
Income (loss)
per ADS
- Continuing
operations (0.35) (0.34) (1.03) (0.08)
- Discontinued
operations 0.02 -- 0.15 0.50
Basic (0.33) (0.34) (0.88) 0.42
- Continuing
operations (0.35) (0.34) (1.03) (0.08)
- Discontinued
operations 0.02 -- 0.15 0.50
Diluted (0.33) (0.34) (0.88) 0.42
Weighted average
number of shares
used in calculating
income (loss) per
ADS
- Basic 86,211,991 88,855,795 86,856,467 88,174,675
- Diluted 86,211,991 88,855,795 86,856,467 89,466,957
ACORN INTERNATIONAL, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In US dollars)
December 31, 2008 December 31, 2009
Assets
Current assets:
Cash and cash equivalents 147,648,774 142,952,944
Restricted cash 1,425,102 2,394,213
Short-term investments 19,745,444 18,572,790
Accounts receivable, net 27,708,460 17,030,857
Notes receivable 150,607 2,242,641
Inventory 29,521,680 26,180,629
Prepaid advertising expenses 16,756,954 9,968,493
Other prepaid expenses and
current assets, net 13,362,528 7,789,921
Deferred tax assets, net 3,355,151 2,960,194
Total current assets 259,674,700 230,092,682
Land use rights, net -- 7,349,957
Property and equipment, net 15,641,434 14,818,404
Acquired intangible assets, net 21,313,949 3,181,596
Long-term investments 5,275,000 8,020,069
Investment in affiliates 1,159,134 8,881,830
Other long-term assets 1,121,100 1,673,755
Total assets 304,185,317 274,018,293
Liabilities and equity
Current liabilities:
Accounts payable 20,734,493 15,528,580
Accrued expenses and other
current liabilities 19,652,820 14,838,142
Notes payable 3,657,859 3,253,005
Income taxes payable 3,327,869 4,057,304
Deferred revenue 12,797,716 --
Dividend payable -- 29,322,782
Total current liabilities 60,170,757 66,999,813
Deferred tax liabilities 3,581,569 889,625
Business combination liability 11,107,375 1,103,015
Total liabilities 74,859,701 68,992,453
Acorn International Inc.
shareholders' equity:
Ordinary shares 935,435 935,447
Additional paid-in capital 205,651,072 178,176,225
Retained earnings 9,737,468 19,137,916
Accumulated other comprehensive
income 15,113,507 16,997,941
Treasury stock, at cost (15,676,206) (11,612,546)
Total Acorn International Inc.
shareholders' equity 215,761,276 203,634,983
Non-controlling interest 13,564,340 1,390,857
Total equity 229,325,616 205,025,840
Total liabilities and equity 304,185,317 274,018,293
CONTACT: Acorn International, Inc., Ms. Chen Fu, IR Director, +86-21-
51518888 x2228, or fuchen@chinadrtv.com; or CCG Investor Relations,
Mr. Crocker Coulson, President, +1-646-213-1915 (New York), or
crocker.coulson@ccgir.com
Online Ranking to Track the Most Popular Videos in Real-time
BEIJING, March 12 -- Youku, China's leading Internet video website, today announced the official launch of the Youku Index, an online video ranking to track the most popular videos in real-time. Youku is the first Chinese online video site to provide such an information service.
Analyzing the behaviours of 200 million unique visitors to Youku every month, the Index ( http://index.youku.com/ ) provides advertising decision-makers an accurate measure of viewers' choices.
Yao Jian, Youku's CTO, explained that the Youku Index is a composite score formed from content searches, plays, comments, and ratings data. He believes the Youku Index to be both fun and functional, and will possibly create another popular online video application in addition to netizens getting used to "watching, searching, entertaining, uploading and shooting" online videos. He also emphasized that the Youku Index aims to be explicit and intuitive.
With 67,231,759 views, 52,973 comments and 1,759,827 searchings, The Next Stop: Happiness (Xia yi zhan, Xing Fu) scored 9,418 to claim top spot in the Top 10 TV Serials on the Youku Index on its first day. The second and third places went to Destined to Love You and Temptations from the Wife, respectively. Last year's video views champion Snail House scored 7,302, coming in fourth.
The Youku Index includes four major applications: Index Ranking, Exponential Curve, Data Report, and Index Comparisons. The beta version was launched on November 11, 2009, and has improved since, with more functions added, such as the real time Top 10 TV Serials.
For further information, please contact:
Jean Shao Manager of International Public Relations
Tel: +86-10-5885-1881 x7128
Fax: +86-10-5971-1922
Email: shaodan@youku.com
Source: Youku
CONTACT: Jean Shao, Manager of International Public Relations,
+86-10-5885-1881 x7128, or fax, +86-10-5971-1922, or shaodan@youku.com
LMK Launches More Than 60 Category-Specific and Content-Rich iPhone Applications With Many More to Come By the End of 2010
NEW YORK, March 12 -- LMK ("Let Me Know"), a digital service that provides authoritative information on a wide range of subjects, today announced the immediate availability of more than 60 iPhone applications. The new mobile apps harness LMK's unique breadth and depth of coverage on a variety of subjects, ranging from baseball players and teams to 50 Cent, Lady Gaga and Taylor Swift. The apps are priced starting at $0.99 and LMK expects to expand its mobile product offerings on a monthly basis. LMK's apps can be downloaded from Apple's App Store as well as through LMK.com and can be used on the iPhone and iPod Touch.
"LMK is doing something unprecedented by releasing large groups of topic-specific iPhone applications that enable consumers to break through the clutter, giving them access to authoritative, up-to-the-minute content on the topics that matter most to them," said Michael Gutkowski, president of LMK. "Whether it's the New York Yankees, Derek Jeter or Paris Hilton, our platform gives us the ability to deliver a user experience that's targeted, informative and entertaining."
Each LMK iPhone app provides curated news and a photo stream that is continuously updated from the best and most authoritative sources available. Additionally, every LMK application will expand its rich and dynamic experience as additional product enhancements are added in the coming months. With so many single-topic apps to choose from, LMK will also offer marketers the ability to sponsor an app that is timely and relevant to their brand.
LMK also puts the power of the platform into the hands of consumers by asking users to submit their must-have apps at LMK.com. Whether it's a favorite video game, movie star, tennis player or guilty pleasure, LMK will deliver dynamic subject matter that people truly want.
ABOUT LMK
LMK is a digital service that curates, designs and delivers the most authoritative content on any important person, place or thing. LMK's dynamic delivery platform powers topic-specific iPhone applications and other digital products, aggregating and presenting the most current and relevant facts, stories, photos, connections charts and tweets related to each topic. LMK is a digital company incubated by Hearst Corporation.
New Website Skinofmine.com Allows Users to Analyze and Track Changes in Their Skin and Share Their Photos with Their Doctor
Skinofmine.com allows users to upload photos of their moles and analyze them for signs of melanoma, or to track changes in their mole or other skin concern. They can share and discuss with their MD.
VALHALLA, N.Y., March 12 -- A new website, Skinofmine.com, allows users to upload photos of their moles or other skin concerns and analyze them for signs of melanoma such as border irregularity, asymmetry, and color irregularity, or to track changes in their mole or other skin concern over time. Users can either create an account and archive their photos, or simply upload a photo to the "SandBox" temporarily for analysis without logging in. Any troubling images may be shared and discussed with other users of the website, for example their dermatologist. The idea of the site is not to provide a diagnosis or to replace or delay a visit to the dermatologist; rather the concept is to aid users in performing the recommended self-checks of the skin between doctor visits.
The website was developed by a team of MIT PhDs with expertise in image processing, together with consultation from several dermatologists. It uses state-of-the-art back-end algorithms for the analysis. The parent company of Skinofmine.com is Medical Image Mining Laboratories, which was established in 2008 in Valhalla, NY. MIMLabs creates software for the quantification of disease on radiological images.
For more information, please contact:
Ellen Kislal, PhD
President
Medical Image Mining Laboratories, LLC
400 Columbus Avenue
Valhalla NY 10595
914.495.3311 http://www.skinofmine.com
Source: Skinofmine.com
CONTACT: Ellen Kislal, PhD, President of Medical Image Mining
Laboratories, LLC, +1-914-495-3311
InterCasino Offers the Mother (in-law) of all Prizes
LONDON, March 12, 2010-- To coincide with Mother's Day, InterCasino, ( http://www.intercasino.co.uk/) the world's first online casino, is offering
anyone with the mother-in-law from hell a once-in-a-lifetime chance to
escape, by being propelled into suborbital space.
Whilst many of us might wish we could put our mother-in-law in a space
shuttle and never have to face her wrath again, InterCasino's new campaign
offers players the chance to escape by winning their own trip to space.
Most of us have harrowing mother-in-law stories to share - and to mark
Mother's Day, InterCasino wants to hear them. Whether it be the time when she
tried to interfere in your relationship, give you parenting advice, criticize
your job or generally snoop into your private matters, all of these stories
have a chance of winning a spaceflight to propel you away from your
mother-in-law from hell.
For a chance to win, all players need to do is register an account at
InterCasino.co.uk with no deposit required and then send their best
mother-in-law horror stories to mother@intercasino.co.uk.
The best tales will be rewarded with 'stars' as part of the InterCasino
Space Race promotion. Each star earned is an entry into the main prize draw
to win the suborbital space flight.
The offer from InterCasino comes shortly after China announced earlier
this week that female astronauts have to be mothers to qualify for the
country's prestigious space program, which will see its first woman launched
into space as early as 2012.
To mark the lift-off of the all-new InterCasino website, players are
already competing in the InterCasino Space Race on the site - for a chance to
be rocketed into a gambling odyssey, with a trip to suborbital space. Players
are given various opportunities to collect 'stars' at InterCasino through the
promotion, with points awarded for registering, depositing and then wagering
on slots or casino games.
The prize - a Space Adventures suborbital spaceflight - will see one
player get their hands on an unprecedented sensory experience. Rocket motors
boost you beyond the normal limits of flight to regions above 100 kilometers
- where space begins. As you reach your maximum altitude, the rocket engines
shut down, and you experience up to five minutes of continuous
weightlessness, all the while gazing at the vast darkness of space and the
blue horizon of the earth below.
For a chance to win a star in the InterCasino Space Race promotion, email
mother@intercasino.co.uk with your story, as well as your name, InterCasino
account number, country of residence and email address by Sunday 14th March
2010. Terms & conditions apply.
InterCasino is the longest running online casino in the world, launched
in 1996. The site provides a large variety of the most popular and well-known
online casino games, video games and slot machines from around the world. For
more information or to play, visit http://www.InterCasino.co.uk or become a
fan or follower on Facebook or Twitter:
Playdom Integrates WildTangent's New BrandBoost(TM) Advertising Platform for Social Games
One of the world's largest social games developers to tap into ad-supported model for virtual goods and items
SAN FRANCISCO, March 12 -- (GDC CONFERENCE) -- WildTangent, one of the world's largest and fastest growing game services, today announced that leading social game developer Playdom, Inc. is integrating WildTangent's newly launched BrandBoost(TM) advertising platform into its popular Facebook game, Tiki Farm.
With BrandBoost, Playdom can now reward gamers with virtual items and premium social games content in return for the gamer choosing to view a video or rich media advertisement from within their game experience. This ad-supported option supports a recently released Nielsen survey of 27,000 consumers indicating that over 85 percent of gamers would prefer to not pay for their digital games content, highlighting the significant opportunity for trusted brands to play a role in the online games ecosystem.
"BrandBoost offers a new, frictionless option for our players to get access to valuable game items courtesy of trusted brands," said Sean Phinney, vice president of business development at Playdom. "This means more of our players will be able to experience the benefits and thrill of premium virtual goods while playing play Tiki Farm."
Building on the success of the company's Sponsored Session(TM) advertising model for downloadable games, BrandBoost now makes it possible for leading national advertisers to scale major brand campaigns across the rapidly growing areas of social games, MMOs and virtual worlds with guaranteed engagement and proven results. For gamers, it offers the choice of either paying for game content with micro-currency or accessing it for free by engaging with the brand sponsor.
"The magic of BrandBoost is its unique ability to connect online gamers with premium content in exchange for relevant engagement with the world's most well known brands," said David Madden, executive vice president at WildTangent. "For developers, BrandBoost opens up a completely new revenue opportunity and gives gamers a frictionless way to get free access to content and virtual goods."
Founded in 1998, WildTangent is a global games media company operating the fastest growing online games service and the largest game advertising network in the world. The WildTangent ORB(TM) games service ships with new PCs worldwide from Acer, Dell, HP, Lenovo and Toshiba and is currently adding over 3 million new users per month. The service offers consumers the most popular online and downloadable games from the world's top developers and publishers.
WildTangent's games advertising network reaches over 100 million unique users worldwide across its owned and operated properties and a growing list of partner sites giving brands access to the world's best online gaming content. WildTangent works with global brand marketers such as: P&G, Unilever, General Mills, Kraft, Toyota, Ford, Mazda, Paramount, Disney, Fox, Sony, Electronic Arts, Activision, Microsoft, Nintendo and many others.
Uncharted 2 Wins Big With Five Winners at the 10th Annual Game Developers Choice Awards, Including Game of the Year
Creative Word-Wielding Adventure Game, Scribblenauts, Wins for Best Handheld Game and Innovation Award; Other Big Winners Include Batman: Arkham Asylum, Farmville, Flower and Torchlight
SAN FRANCISCO, March 11 -- Naughty Dog's critically-acclaimed Uncharted 2: Among Thieves was the big winner at the 10th annual Game Developers Choice Awards, presented at a ceremony this evening at UBM TechWeb Game Network's 2010 Game Developers Conference (GDC), receiving a total of five awards, including Best Writing and the coveted Game of the Year award.
Another major honoree, 5th Cell received the award for Best Handheld Game and the Innovation Award, for its creativity-fueled portable game, Scribblenauts. Zynga, creators of the wildly addictive and popular Facebook game, Farmville, received the honor for Best New Social/Online Game, marking the first winner for this inaugural category.
Other winners include Rocksteady Studios' dark and gritty adventure, Batman: Arkham Asylum, which won for Best Game Design. The Best Debut Game went to Runic Games' Torchlight. The Best Downloadable Game award went to thatgamecompany's Flower, marking the second such award for the developer, following their win in 2008 with fl0w.
The Game Developers Choice Awards, which honor the very best games of the year, created for developers and voted on by developers. The finalists were chosen via a combination of open game industry nominations and the votes of the leading creators in the Choice Awards Advisory Committee. Starting this year, winners were selected by the Game Developers Choice Awards-specific International Choice Awards Network (ICAN), which is a new invitation-only group comprised of 500 leading game creators from all parts of the video game industry.
This year, John Carmack, the technological patriarch and co-founder of id Software was presented with the Lifetime Achievement award for more than two decades of groundbreaking technical contributions, and his role pioneering and popularizing the first-person shooter genre with the groundbreaking Doom and Quake series.
The Game Developers Choice Awards also honored Jerry Holkins, Mike Krahulik and Robert Khoo, the crew behind the popular webcomic Penny Arcade, with the Ambassador Award. The trio, who have also created and spearheaded the Child's Play Charity and the Penny Arcade Expo, were awarded the honor for their work creating their genuine, gamer-friendly empire by skewering video game culture and developers while building up a following, events and an industry-leading video game charity that help epitomize the positive elements of 'gamer spirit.'
Finally, Gabe Newell is being given the Pioneer Award for his work in co-creating PC key digital download service Steam, and helping to make possible some of the most important video games of recent years -- from the Half-Life series through Portal to Team Fortress and beyond.
The recipients of the 10th Annual Game Developers Choice Awards are:
Game of the Year
Uncharted 2 (Naughty Dog)
Best Game Design:
Batman: Arkham Asylum (Rocksteady Studios)
Best Writing:
Uncharted 2 (Naughty Dog)
Best Debut Game:
Torchlight (Runic Games)
Best Technology:
Uncharted 2 (Naughty Dog)
Best Handheld Game:
Scribblenauts (5th Cell)
Best Visual Arts:
Uncharted 2 (Naughty Dog)
Innovation Award:
Scribblenauts (5th Cell)
Best Audio:
Uncharted 2 (Naughty Dog)
Best Downloadable Game:
Flower (thatgamecompany)
Recipients for the evening's special awards were:
Lifetime Achievement Award
John Carmack
Pioneer Award
Gabe Newell
Ambassador Award
Penny Arcade (Jerry Holkins, Mike Krahulik, Robert Khoo)
"This year has seen some incredible titles across platforms and genres, big-budget blockbusters like Uncharted 2 and Batman: Arkham Asylum to addictive online games like Farmville all made for an amazing year in games," says Meggan Scavio, event director of the Game Developers Conference. "The winners at the Game Developers Choice Awards have exhibited that they can create compelling experiences that set the bar even higher for other developers to follow. We'd like to thank all the winners and the nominees for their countless hours furthering the art of game creation, and crafting some awesome experiences for gamers the world over."
A core provider of essential information to the professional game industry, the UBM TechWeb Game Network - formerly known as the Think Services Game Group - offers market-defining content, and drives community through its award winning lineup of print, online, event and research products and services. These include the Game Developers Conference®, the Webby Award-winning Gamasutra.com and network of sites, the Game Advertising Online ad network, the Game Developers Conference® Online, the Game Developers Conference(TM) Europe, the Game Developers Conference(TM) China, the Game Developers Conference(TM) Canada, Game Developer Magazine, Game Developer Research, the Game Career Seminars and GameCareerGuide.com, the Independent Games Festival and Summit, and the Game Developers Choice Awards.
About UBM TechWeb, a division of United Business Media
UBM TechWeb, the global leader in technology media and professional information, enables people and organizations to harness the transformative power of technology. Through its core businesses - media solutions, marketing services and professional information - UBM TechWeb produces the most respected and consumed brands, applications and services in the technology market. More than 14.5 million business and technology professionals (CIOs, IT and IT Support managers, Web & Digital professionals, Software and Game developers, Government decision makers, and Telecom providers) actively participate in UBM TechWeb's communities. UBM TechWeb brands includes: global face-to-face events such as Interop, Game Developers Conference (GDC), Web 2.0, Black Hat and VoiceCon; large-scale online networks such as InformationWeek, Light Reading and Gamasutra; research, training, and certification services, including HDI, Pyramid Research, and InformationWeek Analytics; and market-leading magazines such as InformationWeek and Wall Street & Technology. UBM TechWeb is part of UBM, a global provider of media and information services for professional B2B communities and markets.
Ben Veechai / Mellisa Andrade
UBM TechWeb Game Network
(415) 947-6280 / (415) 947-6232
bveechai@think-services.com /
mandrade@think-services.com
Source: UBM TechWeb Game Network
CONTACT: Brian Rubin, +1-212-391-4707, brian@fortyseven.com or Sibel
Sunar, +1-323-658-1200, sibel@fortyseven.com, both of fortyseven
communications, or Ben Veechai, +1-415-947-6280, bveechai@think-services.com;
or Mellisa Andrade, +1-415-947-6232, mandrade@think-services.com, both of UBM
TechWeb Game Network
Twelfth Annual Independent Games Festival Announces Winners; Pocketwatch Games' Cooperative Adventure Caper, Monaco, Steals the Show, Along With the $20,000 Grand Prize
SAN FRANCISCO, March 11 -- Pocketwatch Games' stylish co-op caper, Monaco, was the big winner at the Twelfth Annual Independent Games Festival, which was hosted by the Game Developers Conference (GDC) at the Moscone Convention Center in San Francisco. Monaco received the top award at the ceremony, earning the $20,000 Seumas McNally Grand Prize for Best Independent Game, as well as the award for Excellence in Design.
Other IGF award recipients for 2010, as judged by over 170 industry veterans, independent developers and indie-friendly journalists, also include PLAYDEAD's starkly beautiful silhouetted platformer, LIMBO, which won the awards for Excellence in Visual Art and Technical Excellence. Closure Team's puzzle platformer, Closure, earned the award for Excellence in Audio.
Noted independent developer Cactus received the inaugural Nuovo Award for its abstract visual puzzle game, Tuning. The Nuovo Award honors "abstract, shortform, and unconventional game development which advances the medium and the way we think about games," and was judged by a separate, smaller juried panel of notable game and art world figures, including previous IGF Innovation/Nuovo Award winner Jason Rohrer (Passage), Area/Code's Frank Lantz, N+ co-creator Mare Sheppard, EA division head and art-game creator Rod Humble, and more.
The IGF was established in 1998 by UBM TechWeb Game Network to encourage innovation in game development and to recognize the best independent game developers, in the same way that the Sundance Film Festival honors the independent film community. The IGF offer finalists both global exposure and over $50,000 in cash prizes to each year's winners.
Previous breakout IGF award-winners include titles such as Braid, Audiosurf, Castle Crashers, and World of Goo, and this year's awards saw 301 Main Competition entries from all over the world, coupled with the record-breaking number of IGF Student Showcase entries and IGF Mobile entries, for a total of nearly 650 entries. S2 Games' Heroes Of Newerth won the Audience Award, after receiving the largest share of thousands of public votes cast at IGF.com in recent weeks.
To ensure the highest-quality judging for the IGF, more than 170 leading indie and mainstream game industry figures -- from 2D Boy's Ron Carmel through Spore's Soren Johnson to ThatGameCompany's Kellee Santiago and beyond -- were recruited to choose finalists via a carefully constructed empirical process.
Finally, the award for the Best Student Game went to Ragtime Games' shifting-tile puzzle platformer Continuity, IGF Mobile Best Game was awarded to Tiger Style's Spider: The Secret Of Bryce Manor, and download partner Direct2Drive's $10,000 D2D Vision Award was won by Press Play's Max & The Magic Marker.
"This year sees an impressive array of visually arresting, emotionally challenging and fun games," said Simon Carless, IGF chairman. "And after extensive, in-depth playthroughs from a panel of influential games industry figures, the cream of the crop were chosen to receive honors at the IGF. We're extremely proud of the record number of amazing entries this year, and very grateful for the independent teams who put their hearts and souls into creating captivating, addictive and original gameplay experiences."
The IGF awarded the following games in each category of the main competition -- each received a cash prize of $2,500 as well as sponsor-related prizes, apart from the Grand Prize of $20,000 and D2D Vision's $10,000 award.
Seumas McNally Grand Prize
Monaco, by Pocketwatch Games
Innovation (Nuovo) Award
Tuning, by Cactus
Excellence in Visual Art
LIMBO, by PLAYDEAD
Excellence in Audio
Closure, by Closure Team
Technical Excellence
LIMBO, by PLAYDEAD
Excellence in Design
Monaco, by Pocketwatch Games
Student Showcase Award
Continuity, by Ragtime Games
IGF Mobile Best Game:
Spider: The Secret Of Bryce Manor
Audience Award
Heroes Of Newerth, by S2 Games
D2D Vision Award
Max & The Magic Marker, by Press Play
For more information about the IGF, the finalists and the winners, please visit http://www.igf.com/.
About the UBM TechWeb Game Network
A core provider of essential information to the professional game industry, the UBM TechWeb Game Network - formerly known as the Think Services Game Group - offers market-defining content, and drives community through its award winning lineup of print, online, event and research products and services. These include the Game Developers Conference®, the Webby Award-winning Gamasutra.com and network of sites, the Game Advertising Online ad network, the Game Developers Conference® Online, the Game Developers Conference(TM) Europe, the Game Developers Conference(TM) China, the Game Developers Conference(TM) Canada, Game Developer Magazine, Game Developer Research, the Game Career Seminars and GameCareerGuide.com, the Independent Games Festival and Summit, and the Game Developers Choice Awards.
About UBM TechWeb, a division of United Business Media
UBM TechWeb, the global leader in technology media and professional information, enables people and organizations to harness the transformative power of technology. Through its core businesses - media solutions, marketing services and professional information - UBM TechWeb produces the most respected and consumed brands, applications and services in the technology market. More than 14.5 million business and technology professionals (CIOs, IT and IT Support managers, Web & Digital professionals, Software and Game developers, Government decision makers, and Telecom providers) actively participate in UBM TechWeb's communities. UBM TechWeb brands includes: global face-to-face events such as Interop, Game Developers Conference (GDC), Web 2.0, Black Hat and VoiceCon; large-scale online networks such as InformationWeek, Light Reading and Gamasutra; research, training, and certification services, including HDI, Pyramid Research, and InformationWeek Analytics; and market-leading magazines such as InformationWeek and Wall Street & Technology. UBM TechWeb is part of UBM, a global provider of media and information services for professional B2B communities and markets.
Ben Veechai / Mellisa Andrade
UBM TechWeb Game Network
(415) 947-6280 / (415) 947-6232
bveechai@think-services.com /
mandrade@think-services.com
Source: UBM TechWeb Game Network
CONTACT: Brian Rubin, +1-212-391-4707, brian@fortyseven.com, or Sibel
Sunar, +1-323-658-1200, sibel@fortyseven.com, both of fortyseven
communications for UBM TechWeb Game Network; or Ben Veechai, +1-415-947-6280,
bveechai@think-services.com, or Mellisa Andrade, +1-415-947-6232,
mandrade@think-services.com, both of UBM TechWeb Game Network
Colliers Launches New Fonemine Technology to Market Commercial Properties
SAN JOSE, Calif., March 11 -- Colliers Parrish International, Inc. has recently launched Fonemine mobile marketing (http://www.fonemine.com), a powerful new technology focused on marketing commercial properties that targets mobile device users. The use of this dynamic mobile platform marks a new chapter into how commercial properties are marketed to prospective clients.
Fonemine allows prospective users and brokers to access a mobile web flyer by using listing-specific TEXT keywords that can be found on a property sign or other marketing communications. The content for this medium is optimized automatically for each mobile device and showcases property particulars, photographs and one-click call-to-action capabilities, including click-to-call agent, click-to-get-callback from agent, click-to-share and click-to-email listing brochure. The company chose the award-winning, patent-pending Fonemine mobile technology platform over other app-based platforms because it enables a wide array of turnkey mobile applications that work across all mobile networks and are compatible with over 5,000 handsets.
In addition, Fonemine has the capability to generate detailed reports that monitor activity for each listing such as the number of mobile web flyer requests, visits to the mobile web flyer (unique and total with auto-detection of mobile phone type), property photo slideshow visits, call-to-action requests and the number of times a listing is shared/emailed. There is also a lead-generation database of all customers who have expressed interest in receiving information. Don Reimann, Senior Vice President and Secretary for Colliers' San Jose office, commented, "Fonemine is an impressive advancement that furthers our ability to deliver property information with accuracy as well as speed."
Jagadish Bandhole, CEO and Founder of Fonemine, said, "The widespread adoption of mobile Internet, text messaging and applications for everyday use has emerged as a great opportunity for businesses to increase their communications with their customers. Fonemine is at the forefront of enabling businesses to go to market quickly and cost-effectively with innovative, engaging, interactive and measurable mobile applications for marketing, customer-care and commerce." Bandhole added that Fonemine has an attractive value proposition for businesses wanting to go mobile because its mobile applications can be easily deployed online, fully integrated with backend enterprise systems, and are cost-effective to manage and scale by businesses without making any costly, in-house IT investments.
Colliers launched its mobile marketing campaign on February 25, with approximately 35 Silicon Valley properties included in the initial phase. Colliers anticipates that it will soon have mobile campaigns on well over 100 of its Exclusive Listings once clients begin to see the benefits. Colliers Senior Managing Partner Jeff Fredericks spearheaded the initiative in partnership with Fonemine and says that "every one of our local listings has been fed into the Fonemine system already and the cost is low enough that any property we market is a potential candidate."
"This is a difficult market and we cannot simply wait for the phone to ring and the economy to get better," says Fredericks. "We have to work in this environment to provide as many tools for our brokers as possible and to be a conduit at many different levels for owners and users of commercial real estate so that we can match up their needs."
Colliers is one of the largest commercial real estate firms in the world with 480 offices in 62 countries in the Americas, Europe, the Middle East and Africa, and Greater Asia. Colliers International manages more than 1.1 billion square feet of commercial property and has revenue approaching $2.0 billion. Colliers International is a worldwide affiliation of independently owned and operated companies. Colliers Parrish International, Inc., dba Colliers International, is headquartered in San Jose and has 11 offices in California and Nevada.
Contact:
Chris Droitcour, Colliers International
Marketing Project Manager, 408.282.3899, cdroitcour@colliersparrish.com
Jeff Fredericks, Colliers International
Senior Managing Partner, 408.282.3801, jfredericks@colliersparrish.com
Source: Colliers Parrish International, Inc.
CONTACT: Chris Droitcour, Marketing Project Manager, +1-408-282-3899,
cdroitcour@colliersparrish.com, or Jeff Fredericks, Senior Managing Partner,
+1-408-282-3801, jfredericks@colliersparrish.com, both of Colliers
International
Hand-crafted Ales, Stylish Watches Touch Down at the AIRMALL(R) at Cleveland Hopkins International Airport
- Gordon Biersch and Swatch Open New Units -
CLEVELAND, March 11 -- Premium hand-crafted beer and sophisticated dress watches for men and women are the latest arrivals at the AIRMALL® at Cleveland Hopkins International Airport (CLE). BAA Cleveland, developer of the new AIRMALL® at CLE, is pleased to welcome Gordon Biersch and Swatch to the concessions lineup at the AIRMALL®, which continues to change the face of the airport.
Located on Concourse D, Gordon Biersch (2,400 sq. ft.) is a full-service restaurant and brewery that uses the freshest and finest ingredients for its signature ales, which have garnered a number of awards in the past twelve years. The restaurant has an expansive menu of made-from-scratch food, all served in a friendly atmosphere. Founded in 1988 in Palo Alto, CA, Gordon Biersch now has 27 locations in 16 states and Washington D.C.
Passengers seeking a sleek new watch for themselves or a gift for someone else can now shop at Swatch (450 sq. ft.), a highly respected international brand that has opened a new unit on Concourse C. Swatch features sophisticated dress watches for men and women in stainless steel and leather, along with women's fashion jewelry. Known for its high-quality, Swiss-born time-keeping technology, Swatch first made its mark on the retail landscape in the 1980s, becoming well known for its colorful, collectible plastic watches.
"Respected, high-quality brands have become a hallmark of the new AIRMALL® at CLE as the development continues to take shape, and Gordon Biersch and Swatch are no exception," said Tina LaForte, vice president of BAA Cleveland. "Moreover, passengers can continue to shop and dine at "Regular Mall Prices...Guaranteed. It's the AIRMALL® promise, and it has come to mean something to travelers in Cleveland."
"We are very proud of how the new AIRMALL® at CLE has taken shape. Passengers are responding very favorably to the new concessions," said Airport Director Ricky Smith. "Coupled with the other improvements we are making, Cleveland Hopkins International Airport has already become an example of how an airport can make a dramatic transformation that ultimately enhances the passenger experience."
The City of Cleveland forged a 10-year contract with BAA Cleveland in February 2008 to develop and manage concessions at Cleveland Hopkins International Airport (CLE). The city anticipates the AIRMALL® will double the current participation rate of local and minority-owned companies, dramatically increase the number of concession jobs, and double retail sales figures during the next decade.
When complete, the AIRMALL® at CLE will occupy 76,000 square feet of retail space.
About BAA Cleveland
BAA Cleveland, Inc. is the developer and manager of the retail and concessions program at Cleveland Hopkins International Airport (CLE). In 2008, BAA entered into a ten-year contract with the City of Cleveland to transform the retail, food and beverage concessions into the AIRMALL® at Cleveland Hopkins International Airport, a strategic combination of well-known national brands and high-quality local concepts offered at "Regular Mall Prices...Guaranteed." BAA Cleveland is a project of BAA USA, the developer and manager of the retail, food and beverage operations at the AIRMALLs® at Pittsburgh International Airport, Baltimore/Washington International Thurgood Marshall Airport, and Boston Logan International Airport (Terminals B and E). BAA USA is an affiliate of BAA Limited, the world's leading airport company, which owns and operates six UK airports (Heathrow, Stansted, Southampton, Aberdeen, Edinburgh and Glasgow). For more information, visit http://www.airmall.com or http://www.baausa.com.
Contact: Jeff Donaldson
412-642-7700
jeff.donaldson@elias-savion.com
Futurestep and The Newman Group Partner With HCI to Launch Online Talent Management Technologies Reference Center
LOS ANGELES, March 11 -- Futurestep, a Korn/Ferry Company (NYSE:KFY) specializing in talent acquisition solutions, today announced that the Human Capital Institute (HCI), has completed development of its Talent Management Technologies Reference Center. The online resource available at http://www.hci.org/cfe/technology features research and commentary from Futurestep and The Newman Group.
Based on the book Talent Management Technologies, published by HCI, the Reference Center is an online resource that provides industry insight as well as details on solutions, features and functions offered by leading talent management technology providers today. Visitors to the Reference Center will have access to research and commentary by Talent Management Technologies book co-authors, including thought leader Ed Newman, President of The Newman Group and Leader, Futurestep United States; talent management industry expert Allan Schweyer, and talent technology expert Peter DeVries of The Newman Group, a Futurestep Company.
To introduce the center, HCI will be holding a webinar, "The Reference Center Guide to Talent Management Technology 2010," on Tuesday, April 13, with Newman and DeVries. They will cover the latest trends in the talent management technology and provide a tour of the Reference Center. Information about the Webcast is also available at http://www.hci.org/cfe/communities/865/888 and at http://www.futurestep.com/
"With the strong contribution of Futurestep and The Newman Group, the Talent Management Technologies Reference Center provides a valuable resource to HCI members for better understanding the solutions that drive talent management today," said HCI Chairman and CEO Michael Foster.
"Technology solutions are a key to talent management success and, the market for technology solutions will continue to evolve at companies throughout the globe," said Ed Newman, President of The Newman Group and Leader, Futurestep U.S. "The information in our book and in the Reference Center covers both the high-level trends and the details of features and functions. The result is a resource that provides a practical technology perspective for anyone involved in talent management strategy or operations."
The reference center will be updated with new vendor and solutions information, starting in summer, 2010.
About Futurestep
Futurestep is a Korn/Ferry Company and a leading global talent acquisition solutions provider, helping companies build and implement strategies for improving their talent acquisition operations. Key areas of focus include Talent Acquisition Consulting, Recruitment Process Outsourcing, Project-Based Recruitment and Mid-Level Recruitment. With operations on four continents, Futurestep provides the experience and expertise to address the most pressing talent acquisition challenges facing companies today. To learn more, visit http://www.futurestep.com
About The Newman Group
The Newman Group is a Futurestep Company and leading provider of talent management consulting services for today's Fortune 500 global enterprises, including one out of three Fortune 100 companies and recognized industry leaders such as General Motors, Johnson & Johnson, and MetLife. Our consultants combine next-practice vision, practical solutions, and an unparalleled level of commitment and integrity to help our clients translate their talent management strategies into measurable business impact. To learn more, visit http://www.tng.futurestep.com
About Korn/Ferry International
Korn/Ferry International (NYSE:KFY), with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions celebrating 40 years in business. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. Visit http://www.kornferry.com for more information on the Korn/Ferry International family of companies, and http://www.kornferryinstitute.com for thought leadership, intellectual property and research.
Source: Futurestep
CONTACT: Kelly Cartwright of Futurestep, 1-877-639 6262,
kelly.cartwright@futurestep.com
Elecsys Corporation Reports Third Quarter Financial Results
OLATHE, Kan., March 11 -- Elecsys Corporation (NASDAQ:ESYS), a developer of machine to machine (M2M) data acquisition, telemetry, and analysis systems for critical industries and a provider of custom electronic assemblies and displays for industries where high quality, reliability, and innovation are paramount, today announced its financial results for the third fiscal quarter ended January 31, 2010.
Sales for the quarter were $4,741,000, a decrease of 6%, or $291,000, from the third quarter of fiscal 2009 and an increase of $740,000, or 18%, from the previous quarter. Total sales year-to-date decreased 31%, or $5,437,000, to $12,361,000. The Company continued to experience the effects of a weakened economy, which resulted in cautious order patterns from existing customers and some delays in bookings from developing customers during the preceding quarters in late fiscal 2009 and early in fiscal 2010.
Sales for the EDMS segment of the Company were approximately $2,763,000, an increase of $37,000, or 1%, from $2,726,000 in the comparable quarter in the prior year. Sales of proprietary products and services were $1,978,000 for the three-month period ended January 31, 2010, a $328,000, or 14%, decrease from sales of $2,306,000 in the comparable quarter in the prior year. Proprietary product sales were impacted from fewer handheld computer hardware units sold as compared to the previous year. However, the Company completed the development of its new handheld model FW950 during the previous fiscal quarter and made initial shipments of the new model during the current fiscal quarter. Sales of the Company's Pipeline Watchdog products and related services increased $299,000, or 29% from the same period in the prior fiscal year as a result of continued increases in customer orders. Sales for eXtremeTAG products totaled approximately $8,000 for the current period and $46,000 since the acquisition of the product line in June 2009.
Total consolidated backlog at January 31, 2010, consisting of both EDMS and proprietary product orders, was approximately $3,933,000, an increase of $866,000, or 28.2%, from a total backlog of $3,067,000 on April 30, 2009 and a decrease of approximately $1,019,000 from a total backlog of $4,952,000 on October 31, 2009. The increase in the backlog from the end of the prior fiscal year is the result of increases in orders from current and new customers of our electronic design and manufacturing services as well as orders for our proprietary products.
The Company anticipates slightly higher sales in its EDMS segment in the coming fiscal quarters compared to the previous quarterly periods as a result of both the addition of several new customers and the continued transition of several projects from the Company's engineering design group into production. The Company also expects its proprietary products and services to contribute to an overall increase in sales during the remainder of the current fiscal year and into the next fiscal year due to existing orders in our backlog and anticipated orders from new and existing customers. This increase is expected to include the Company's WatchdogCP remote monitoring products, additional shipments of the new ultra-rugged Radix FW950 handheld computers from new customer orders, increased customer interest and sales of the Company's eXtremeTAG RFID solutions, and the addition of SensorCast remote monitoring products and customers.
Gross margin was approximately 32% of sales, or $1,513,000, for the three-month period ended January 31, 2010, compared to 38% of sales, or $1,921,000, for the prior year period. Gross margin for the nine-month period also decreased to 31% of sales, or $3,882,000. The decrease in gross margin resulted from lower sales volumes, a decrease in production efficiency as a result of sales volume, and the impact of some sales at lower margins.
Selling, general and administrative expenses were approximately $1,427,000 during the period compared with $1,695,000 in the prior year period. The lower expenses were primarily due to the decrease in personnel and personnel-related expenses, facility and office expenses and a decrease in overall travel expenses. The Company did incur approximately $77,000 of acquisition and integration expenses during the period as a result of its acquisitions during the past fiscal year. Total SG&A expenses decreased $624,000, or 12%, for the current nine-month period ended January 31, 2010, as compared to the comparable period of the prior year.
Income before taxes for the quarter was $2,000, compared to income before taxes of $135,000 for the same quarter in the prior year. For the first nine months of fiscal 2010, the loss before taxes was $1,157,000, a change from income before taxes of $1,079,000 reported in the first nine months of fiscal 2009.
Net income was $64,000, or $0.02 per diluted share, for the quarter ended January 31, 2010. For the quarter ended January 31, 2009, net income was $213,000, or $0.06 per diluted share. For the nine month period ended January 31, 2010, net loss totaled $654,000, or $0.19 per diluted share, while net income for the comparable prior year period was $747,000, or $0.22 per diluted share.
Karl B. Gemperli, President and Chief Executive Officer, stated, "We continue to experience challenges given the current global economic conditions, but are pleased to report improving revenues and bottom line results. Through leveraging our established market position, further penetrating our target markets, and building new customer relationships, sales increased over 18% from the previous quarter. Over the last year, we also took measures to control costs and keep our operations lean which preserved our margins, achieved a reduction in SG&A expenses of over 15% compared to the prior year, and returned the Company to profitability this quarter. These reductions in operating expenses were achieved while continuing to make substantial investments in new product and market development that are vital to our continued growth."
Gemperli continued, "We believe that our committed investments in new product development have resulted in a market leading suite of integrated M2M solutions that present exciting opportunities for growth in the rapidly growing industries we are targeting. Our recent acquisition of SensorCast and its innovative communication technologies further broadens our offering of M2M solutions and opens up new sectors of the energy exploration, production, transmission, and distribution markets. In addition, we believe the international sales and marketing initiatives for all our brands currently underway will increase our business over the coming quarters. Although global economic conditions are uncertain and still present challenges, based on orders in backlog, expected proprietary product sales, and new business opportunities, we foresee positive trends in both revenues and earnings during the coming quarters."
About Elecsys Corporation
Elecsys Corporation provides innovative machine to machine (M2M) communication technology solutions for critical industrial applications worldwide. Elecsys proprietary equipment and services encompass rugged wireless remote monitoring, mobile computing, and radio frequency identification (RFID) technologies that are deployed wherever high quality and reliability are essential. Elecsys also provides integrated displays and custom electronic assemblies to numerous industries worldwide. Our primary markets include energy production and distribution, agriculture, natural resource management, aerospace, safety and security systems, and transportation. Elecsys markets and supports its proprietary technology and products under its Pipeline Watchdog, Radix, eXtremeTAG, and DCI brand names. For more information, visit http://www.elecsyscorp.com.
Safe-Harbor Statement
The discussions set forth in this press release may contain forward-looking comments based on current expectations that involve a number of risks and uncertainties. Actual results could differ materially from those projected or suggested in the forward-looking comments. The difference could be caused by a number of factors, including, but not limited to the factors and conditions that are described in Elecsys Corporation's SEC filings, including the Form 10-K for the year ended April 30, 2009. The reader is cautioned that Elecsys Corporation does not have a policy of updating or revising forward-looking statements and thus he or she should not assume that silence by management of Elecsys Corporation over time means that actual events are bearing out as estimated in such forward-looking statements.
Net income (loss) $64 $213 $(654) $747
=== ==== ===== ====
Net (loss) income per
share information:
Basic $0.02 $0.06 $(0.19) $0.23
Diluted $0.02 $0.06 $(0.19) $0.22
Weighted average
common shares
outstanding:
Basic 3,552 3,296 3,460 3,292
Diluted 3,680 3,435 3,460 3,443
Source: Elecsys Corporation
CONTACT: Investor Relations, Todd A. Daniels, +1-913-647-0158, Fax,
+1-913-982-5766, investorrelations@elecsyscorp.com, or Media Inquiries, Mary
Ann Roe, +1-913-647-0158, Fax, +1-913-982-5766, maryann.roe@elecsyscorp.com,
both of Elecsys Corporation
School of Sustainability Graduate Students Launch Sustainability Journal
TEMPE, Ariz., March 11 -- As graduate students in the School of Sustainability at Arizona State University, Maren Mahoney and Zach Hughes had seen plenty of academic journals related to sustainability. But nowhere could they find a publication that made the complex concept of sustainability accessible to the everyday reader.
So they started one.
"We wanted to help shape the discussion about sustainability in the public arena - it is a concept that is hard to understand for most people, and we felt it was important to reach an audience outside of academia," says Mahoney.
She and Hughes envisioned a publication that would inspire social change by connecting with people and issues locally, nationally, and internationally. The result is The Sustainability Review, an online journal edited and published by School of Sustainability students.
Part scholarly journal, part popular magazine, The Sustainability Review includes research, essays, and artwork. It is intended to engage people from all walks of life in discussions about a broad range of sustainability topics. The publication is edited entirely by students.
Mahoney and Hughes were among the first students in the nation's first-ever School of Sustainability, which launched in fall 2007 with a mission to create and share knowledge, train a new generation of sustainability scholars and practitioners, and develop real-world solutions to the world's pressing environmental, economic, and social challenges.
Fully committed to that mission, the pair began discussing the creation of a School of Sustainability publication in August 2008. Just over a year later, and with the help and cooperation of numerous other students and faculty, the inaugural issue of The Sustainability Review has been released.
"The Sustainability Review will generate interest and dialogue about sustainability across a comprehensive audience," said Charles Redman, director of the School of Sustainability within the Global Institute of Sustainability. "I commend these students for their great leadership, creativity, and dedication to this innovative project."
The journal's first issue includes written and artistic perspectives on academic innovation, water conservation, waste management, renewable energy, transportation alternatives, biodiversity, community gardening, recreation, environmental justice, and more. Contributors include academics and non-academics alike.
Planned as a biannual publication, The Sustainability Review will post its next call for papers this summer. To read the first issue and find additional information visit: http://www.thesustainabilityreview.org.
About the School of Sustainability in the Global Institute of Sustainability, Arizona State University (ASU)
The Global Institute of Sustainability is the hub of ASU's sustainability initiatives. The Institute advances research, education, and business practices for an urbanizing world. Its School of Sustainability, the first of its kind in the U.S., offers transdisciplinary degree programs that advance practical solutions to environmental, economic, and social challenges - especially as they relate to urban areas. For more information: http://schoolofsustainability.asu.edu/ or http://sustainability.asu.edu/.
Source: Global Institute of Sustainability
CONTACT: Karen Leland, Director, Communications, Global Institute of
Sustainability/School of Sustainability of Arizona State University,
+1-480-965-0013, karen.leland@asu.edu
Verizon Business Earns Cisco's Master Unified Communications Specialization
Designation Recognizes Channel Partners With Highest Level of Unified Communication Expertise, Lifecycle Services, Success in Sales
BASKING RIDGE, N.J., March 11 -- Verizon has achieved the Master Unified Communications Specialization from Cisco, recognizing that the company has fulfilled the training requirements and program prerequisites to sell, deploy and support highly sophisticated applications-based Cisco Unified Communications solutions.
"As the only U.S.-based global service provider to achieve both Master UC and Master Security specializations, we can deliver some of the most secure, integrated solutions available today," said Anthony Recine, vice president of network and communications solutions marketing for Verizon Business. "The powerful combination of Verizon's network-based VoIP services and Cisco's UC platform - together with our professional consulting expertise - is enabling better business processes and productivity for our customers while assembling the building blocks to provide cloud-based unified communications as a service."
In addition to the Master Unified Communications Specialization, Verizon on Thursday (March 11) also announced it has achieved Cisco's Master Security Specialization and Advanced Data Center Networking Infrastructure Specialization in Europe. The two companies will demonstrate new and existing unified communications and collaboration capabilities at the VoiceCon trade show, March 22 - 24 in Orlando, Fla.
To achieve the Master Unified Communications Specialization, resale channel partners must first attain the Advanced Unified Communications Specialization. Partners must then meet stringent requirements that demonstrate their master-level sales, technical and services capabilities. Furthermore, master specialized partners must satisfy a number of Cisco and industry-standard technical certification requirements; provide customer references that document Cisco-prescribed design and deployment capabilities; and show evidence that they have the infrastructure to support a full menu of Lifecycle Services offerings and capabilities.
The Cisco Resale Channel Program provides partners with the training required to build sales, technical and Cisco Lifecycle Services skills, and then validates their skills through a third-party audit. Cisco resale partner certifications -- Select, Premier, Silver and Gold -- represent an increasing breadth of skills across key technologies and a partner's ability to deliver integrated networking solutions. Cisco resale partner specializations -- SMB, Express, Advanced and Master -- reflect an increasing depth of sales, technical and service expertise in particular technologies. Cisco master specializations provide Verizon Business access to comprehensive sales, technical, and lifecycle services training and support available from Cisco.
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE:VZ), is a global leader in communications and IT solutions. We combine professional expertise with one of the world's most connected IP networks to deliver award-winning communications, IT, information security and network solutions. We securely connect today's extended enterprises of widespread and mobile customers, partners, suppliers and employees - enabling them to increase productivity and efficiency and help preserve the environment. Many of the world's largest businesses and governments - including 96 percent of the Fortune 1000 and thousands of government agencies and educational institutions - rely on our professional and managed services and network technologies to accelerate their business. Find out more at http://www.verizonbusiness.com.
Cisco, the Cisco logo and Cisco Systems are registered trademarks of Cisco Systems Inc. in the United States and certain other countries.
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 Wireless' CASIO G'zOne Brigade Offers Businesses a Tough Exterior for Extreme Conditions
First Verizon Wireless Push To Talk Clamshell Handset with Full QWERTY Keypad Lets Customers Text In Rain or Shine
IRVINE, Calif., and NEW YORK, March 11 -- Verizon Wireless and CASIO today announced that the water, dust and shock resistant CASIO® G'zOne Brigade(TM) is available today. The CASIO Brigade is the perfect device for business customers in industries such as construction, public safety and utilities who need devices that stand up to tough work conditions while still delivering high-performance mobile technology. This rugged device also sports a QWERTY keyboard; an HTML browser; and Document Viewer for reviewing Microsoft® Word® documents, Microsoft® Excel® spreadsheets, Microsoft® PowerPoint® presentations, and PDFs; plus Push to Talk capabilities that leverage Verizon Wireless' 3G network for fast two-way communication.
Available colors: Matte Black with a unique crocodile texture exterior for enhanced grip
Key features:
-- Tough Technology Design - Horizontal clamshell with QWERTY keypad
-- 3.2 megapixel camera with flash, video capture and LED light
-- Clear Talk for superior sound quality
-- Water, shock, dust, immersion, vibration, humidity, salt fog,
altitude, high and low temperature storage, and solar radiation
resistant conforming to MIL-STD-810F
-- Field Force Manager capable - A resource management tool that provides
businesses with the ability to locate and communicate with their
mobile field workers
Lifestyle features:
-- Document Viewer - Makes reviewing Word documents, Excel spreadsheets,
PowerPoint presentations and PDFs a breeze
-- Dedicated message keys - Provide one-touch access to messaging
-- Text to Speech - Allows customers to listen to their text messages,
multimedia messages and e-mails
-- Best Shot(TM) - Has six presets for a perfect photo finish and
automatically changes the setup of the camera based on the background
-- Auto Focus - Offers single point, nine point and multi point and face
detection, perfect for group shots
-- V CAST Music with Rhapsody - Choose from millions of songs to download
over the air
-- V CAST Video on Demand - Watch favorite television shows while on the
go, including live college football, college basketball and NHL hockey
games, local and national news and weather, and family programming
-- VZ Navigator® capable - Receive audible turn-by-turn directions to
more than 15 million points of interest and share the directions with
others
-- microSD(TM) storage for high-quality photos and music
-- Speakerphone with front-facing stereo speaker
Price and availability:
-- The CASIO G'zOne Brigade is available today online at http://www.verizonwireless.com and in Verizon Wireless Communications Stores
for $249.99 after a $50 mail-in rebate with a new two-year customer
agreement. Customers will receive the rebate in the form of a debit
card; upon receipt, customers may use the card as cash anywhere debit
cards are accepted.
-- To get the most out of the CASIO G'zOne Brigade, customers will need
to purchase a data package beginning at $9.99 per month for 25
megabytes with Mobile Email, or add Push to Talk for $5 per month per
line on top of a qualifying voice plan. Customers who activate Push
to Talk service will also be eligible to receive a $30 discount on
Push to Talk phones.
-- For additional information on Verizon Wireless products and services,
visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or
go to http://www.verizonwireless.com. Business customers can contact their
Business Sales Representatives at 1-800-VZW-4BIZ.
(EDITOR'S NOTE: Media can access high-resolution images of the CASIO G'zOne Brigade in the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.)
About Verizon Wireless
Verizon Wireless operates the nation's most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (Nasdaq and LSE: VOD). For more information, visit http://www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
About Casio Hitachi Mobile Communications Co., Ltd.
Casio Hitachi Mobile Communications Co., Ltd. was established on April 1, 2004 as a joint venture between Casio Computer Co., Ltd. and Hitachi, Ltd. The company brings together the many highly competitive technological assets possessed by Casio and Hitachi to provide customers with highly innovative and reliable mobile phone products packed with cutting-edge technologies. For more information visit our website at http://www.ch-mobile.com or http://www.casioGzOne.com.
Source: Verizon Wireless
CONTACT: Ken Muche of Verizon Wireless, +1-949-286-8193,
Ken.Muche@VerizonWireless.com; or Keita Williams of exposure Communications,
+1-212-226-2530, keita@exposure.net, for Casio Hitachi Mobile Communications
Co., Ltd.
SAN FRANCISCO, March 11 -- At the Game Developers Conference, Joyent (http://www.joyent.com) announced the availability of My.Joyent. The new easy to use web portal allows users of Joyent's Cloud Computing infrastructure to provision, organize, and manage a virtual data center through an easy to use web portal. Operations managers will use My.Joyent to make both strategic and tactical decisions using a one-click setup and tear-down feature to manage their cloud infrastructure.
My.Joyent is a key new addition to Joyent's on-demand, highly scalable, cost-effective Cloud Computing infrastructure platform, which supports thousands of customers from rapidly growing startups to Fortune 500 companies. An industry-leading suite of software solutions including Joyent Accelerator, Joyent Cloud Control, My.Joyent and Joyent Smart Platform make it possible for customers to quickly move from an idea to a popular web application without the prohibitive costs of large capital outlays and long-term vendor contracts while still getting all the stability, reliability, security and quality of fully managed, dedicated data centers. Joyent's Public and Private Cloud solutions enable flexible approaches to integrating with existing infrastructure, or delivering an entire infrastructure in the cloud. Joyent's software solutions are enhanced with Joyent Scale Services that provide world-class consulting to enable applications to run at peak efficiency.
"My.Joyent is a critical step towards achieving our long term vision of providing a fully programmable data center," said Jason Hoffman, CTO of Joyent. "Using My.Joyent, customers will be able to monitor their infrastructure needs and adjust their consumption of services in real time, providing for significant reductions in cost and improved operational efficiency."
Social games and media companies find these features particularly appealing as they need to anticipate scaling to millions of users in a matter of days. My.Joyent provides monitoring and controls that allow site operators to adjust their architecture to real-world demands in minutes. This is enhanced by Zeus Accelerators for high volume load-balancing, caching, and active packet management.
"We are excited about the opportunity My.Joyent will provide for us to optimize management of our infrastructure built on Joyent infrastructure services," said Michael Li, CTO at Watercooler, Inc. "Many of our popular applications on Facebook, including the 2010 Bracket Challenge, are powered by Joyent so we need to be able to easily and cost effectively manage hundreds of accelerators at a time."
Joyent's infrastructure services power some of the most popular games on Facebook, MySpace and other social networks with millions of active users every month. The bursting capability of Joyent's Accelerators allows these games to grow without interruption when they experience a surge in popularity. For more information about Joyent services, visit http://www.joyent.com/
Company Description
Joyent has been delivering web application Infrastructure as a Service since 2004, long before it was ever called Cloud Computing. With thousands of customers world-wide from rapidly growing startups to Fortune 500 customers, Joyent's high-performance software infrastructure has been proven to be extremely stable, flexible and secure. Today, Joyent is the only true on-demand Cloud Computing solution providing enterprise customers the convenience, efficiency and scalability of cloud computing with the reliability, security and performance of fully managed, dedicated data centers. Our virtual data center solutions enable customers to deploy and scale computing resources in minutes with a pay-per-use model buying only the necessary capacity.
Joyent is a leading infrastructure provider for some of the fastest growing businesses on the Web:
LinkedIn delivers billions of pages each month using Joyent infrastructure services.
Country Life has used Joyent's high performance infrastructure to scale quickly to over 8 million monthly active users on Facebook with great gameplay.
Gilt Group, one of the world's fastest growing eCommerce businesses, has been able to reduce costs significantly by building on Joyent infrastructure.
Source: Joyent Inc.
CONTACT: media at GDC, Adrian Ludwig of Joyent, GDC Booth # 1927,
+1-415-846-6597, adrian@joyent.com; or media not at GDC, Alan Mangelsdorf of
Group82, +1-845-235-4628, alan@group80two.com, for Joyent Inc.
Federal IT Officials & Tech Leaders to Examine Govt. Transition to Cloud Computing at SaaS/Gov 2010
SIIA & INPUT Event will Take Place April 5th in Washington, D.C.
WASHINGTON, March 11 -- The Software & Information Industry Association (SIIA), the principal trade association for the software and digital content industries, today invited media to attend its fourth annual Software as a Service (SaaS) conference for the federal IT market, held April 5th, in Washington, D.C. Presented by SIIA and consultant INPUT, SaaS/Gov is the most comprehensive conference addressing the intersection of government IT and the software industry.
SaaS/Gov will explore the government's adoption of SaaS and how the cloud has simplified operations and has made federal IT infrastructure more open and interoperable. The conference will feature both government and industry leaders, including executives from Salesforce.com and Google, who will evaluate a wide range of applications and how they are being utilized by the government. Panels and presentations will also address social media, security and transparency issues.
Speakers at the conference include:
-- Susie Adams, Chief Technology Officer, Microsoft Corporation (Federal
Sales)
-- Philip Berman, SOA Products Group, Sales Engineer, Intel
-- Daniel Burton, Senior Vice President, Global Public Policy,
Salesforce.com
-- Scott Chasin, Chief Technology Officer, McAfee Software as a Service
-- Matthew Glotzbach, Director, Product Management, Google Enterprise
-- Kevin Plexico, Executive Vice President, INPUT
-- Sean Poulley, Vice President, Online Collaboration Services, IBM
Corporation
-- Tom Temin, Anchor/Columnist, The Federal Drive, FederalNewsRadio 1500
AM
Additionally, IT leaders from federal, state and local government agencies - including the U.S. Department of Health and Human Services - will participate as speakers.
For more information, or to register for the conference, media should contact Beth Dozier at bethdozier@rational360.com. Members of the media may also register online at: http://www.siia.net/saasgov/2010/press_apply.asp.
WHO: Software and Information Industry Association (SIIA)
WHAT: SaaS/Gov 2010
WHEN: 5 April 2010
WHERE: The Westin Washington, DC City Center
1400 M Street NW
Washington, DC 20005
The Software & Information Industry Association (SIIA) is the principal trade association for the software and digital content industries. SIIA provides global services in government relations, business development, corporate education and intellectual property protection to more than 500 leading software and information companies. For further information, visit http://www.siia.net.
About INPUT
INPUT helps companies develop federal, state, and local government business and helps public sector organizations achieve their objectives. Over 1,300 members, including small specialized companies, new entrants to the public sector, and the largest government contractors and agencies, rely on INPUT for the latest and most comprehensive procurement and market information, consulting, powerful sales management tools, and educational & networking events.
Source: Software & Information Industry Association
CONTACT: John Crosby of Software & Information Industry Association,
+1-202-789-4469, jcrosby@siia.net, or Beth Dozier, +1-202-429-1833,
bethdozier@rational360.com, for Software & Information Industry Association
Available In Venus Ruby Exclusively For Vodafone Customers
NEWBURY, England, March 11 -- The Sony Ericsson Vivaz is now available to buy from Vodafone UK, the UK's best network.
Vodafone customers can select the stylish, curved handset packed full of high-end features in either Venus Ruby (exclusive to Vodafone) or Moon Silver.
With an 8.1 megapixel camera with 4 x digital zoom and face and smile detection, ensures users capture the perfect picture every time. View the results on the crystal-clear 3.2 inch high definition widescreen and share with friends by uploading via the inbuilt Wi-Fi.
The jewel in the Sony Ericsson Vivaz's crown is the HD video allowing consumers to produce and broadcast their favourite experiences with the latest video capture features. The added auto focus helps customers record life's moments in high quality.
The device is pre-loaded with the Vodafone 360 Homescreen, giving customers access to Vodafone My Web, VIP contacts and the 360 Apps & Games Shop. On top of that, customers can access the Vodafone Music service to buy and download DRM-free tracks from a catalogue of more than 2 million songs.
The Sony Ericsson Vivaz is available for free from Vodafone UK on a 30 pounds Sterling (24 month price plan) with 600 minutes, unlimited texts and 500MB of mobile internet. For more information and to pre-order the device visit: http://shop.vodafone.co.uk/shop/mobile-phone/sony-ericsson-vivaz.
Source: Vodafone UK
CONTACT: Dan Bowsher, Vodafone UK, +44-(0)1635-666777
Spirit AeroSystems Named to Boeing Tanker Supplier Team
WICHITA, Kan., March 11 -- Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has been named to the Boeing (NYSE:BA) NewGen Tanker Supplier Team. Boeing, Spirit's largest customer, is bidding on the KC-X program, the U.S. Air Force's next line of tanker aircraft.
Upon a contract award from the United States government to Boeing, Spirit will build the Boeing tanker's forward fuselage section in Wichita, Kan. After completion, Spirit will ship the hardware to Boeing's Everett, Wash., facility for final assembly.
"We're honored to continue to build quality airplane assemblies for Boeing, and ultimately, for the United States Air Force," said Richard "Buck" Buchanan, Spirit senior vice president and chief operations officer. "Spirit is proud to be part of the integrated Tanker Team, and is poised and ready to deliver world-class components to our customer."
Sen. Sam Brownback, R-Kan., said, "I am pleased that the men and women of Spirit AeroSystems will play such a significant role on the NewGen Tanker. The Boeing/Spirit Team has a strong track record of delivering superior value to their customers and I know they will continue this success in building the world's finest tanker for the United States Air Force."
U.S. Congressman Todd Tiahrt, R-Goddard., said, "The highly-skilled workers and engineers at Spirit AeroSystems are among the best in the world and will play an integral role in building the next generation of tankers. We are moving toward a tanker contract that will stimulate the aviation industry in Kansas and lead to even more high-quality, high-paying jobs. Spirit workers will provide nothing but the best components for the KC-767, and that is important for our military men and women to successfully carry out their missions."
On March 4, Boeing announced it would offer the Boeing NewGen Tanker, an airplane based off of the 767 platform, in the competition to supply the U.S. Air Force with a multi-mission aerial refueling aircraft that will meet all the warfighter's mission requirements for the next several decades.
Boeing will respond to the Air Force's KC-X Request for Proposal by May 10, and the Air Force is expected to announce its decision later this year.
The contract will be for 179 new KC-X aerial refueling tankers.
Based in Wichita, Kan., Spirit AeroSystems is the world's largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has locations in Tulsa and McAlester, Okla.; Prestwick, Scotland; Samlesbury, England; Kuala Lumpur, Malaysia; and is developing new manufacturing facilities in Kinston, N.C.; and Saint-Nazaire, France. In the U.S., Spirit's core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America, Europe and Asia. Spirit Europe produces wing components for a host of customers, including Airbus.
Source: Spirit AeroSystems Holdings, Inc.
CONTACT: Lisa Conklin, Corporate Communications of Spirit AeroSystems
Holdings, Inc., +1-316-523-2438
Resource Nation Leverages Experian's Business Credit Information to Further Prescreen Vendors
New Screening Process Gives Comfort to Businesses
SAN DIEGO, March 11 -- Resource Nation is now going one step further to provide the trust businesses are looking for when seeking a vendor to help grow their business. By leveraging a relationship with Experian, a global leader of information services, a new prescreening process helps reduce the risk of businesses working with a questionable company and allows them to view detailed background information on each of the vendors in Resource Nation's network.
"Experian brings the data, processes and credibility to help us extend the value we already provide to businesses-a trusted place to find vendors," says Ryan Peddycord, CEO of Resource Nation, Inc. "Our goal has always been to help businesses save time searching through thousands of vendors and save money because vendors are put in a competitive bid environment. Providing access to Experian's data will also give businesses peace of mind because they can review detailed information on each vendor in our network before making a decision on who to choose."
As vendors join Resource Nation's growing network of local and national vendors, a search is done to identify the vendor in Experian's database. If a report is available, Experian® verifies the vendor is in good standing with its state business filing at the time the report was run. For vendors with a full Experian report available, Resource Nation makes a link to this report available to businesses and marks "prescreened" next to the vendor's contact information.
The reports provided by Experian may include the vendor's entity type and address; years in business; any known aliases; list of judgments, bankruptcies, and liens; company revenue; number of employees; and credit standing.
Resource Nation attempts to prescreen every vendor; however, not all vendors may have a report available (E.g. a new sole proprietor may not yet have a report available). Even after viewing a full report, all businesses are encouraged to conduct their own due diligence before selecting a vendor.
Vendors in Resource Nation's network operate in the U.S. and Canada and provide products and services ranging from office copiers to postage meters.
About Resource Nation
From local proprietors to Fortune 500 companies, Resource Nation, Inc. connects business purchasers to the prescreened vendors and resources needed to grow a business. Its vendor comparison tool on VoIP Service, empowers home owners and businesses with informative information to make smarter choices. Resource Nation's ability to pre-qualify each business looking for services makes it one of the largest marketplaces for buyers and sellers to connect online.
Source: Resource Nation
CONTACT: Betsy Brottlund, Director of Marketing of Resource Nation,
+1-858-228-5559, betsy@resourcenation.com
Stanley Awarded Department of State Global Support Strategy Contract
ARLINGTON, Va., March 11 -- Stanley, Inc. (NYSE: SXE), a leading provider of systems integration and professional services to the U.S. federal government, today announced that it has been selected as one of two prime contractors on the 10-year multiple award, indefinite-delivery, indefinite-quantity Global Support Strategy (GSS) contract by the U.S. Department of State, Bureau of Consular Affairs (DoS CA), to provide business process support services for both non-immigrant and immigrant visa-related operations at U.S. embassies and consulates abroad under a performance-based arrangement. The firm-fixed-price award has a $2.8 billion contract ceiling and includes a one-year base and nine one-year option periods.
Under the contract, Stanley will have the opportunity to provide oversight and management of support services for worldwide U.S. visa operations in up to 149 GSS countries.
"We are proud of the capabilities we offer to the State Department on the GSS contract and believe our solution provides comprehensive, secure, customer-centric, scalable and efficient delivery of GSS services around the globe," said Howard Ady, Stanley vice president and GSS program manager. "Our team offers international experience with a detailed understanding of various factors affecting the countries and citizens who will be served. Stanley and our subcontractors, VFS Global, Computer Frontiers, STS-Corporation and IBM, look forward to beginning work under this essential contract vehicle and working with our global team members to meet all DoS CA expectations."
"Stanley has a long-standing, 17-year partnership supporting DoS CA in a wide range of passport and visa services, including modernization of consular systems, visa systems training at 250 overseas embassies and consulates, and implementation of the first-ever passport book print facilities," said Phil Nolan, Stanley chairman, president and CEO. "We greatly value our service to DoS CA and fully appreciate the importance of this GSS initiative."
About Stanley
Stanley (NYSE:SXE) is a provider of information technology services and solutions to U.S. defense, intelligence and federal civilian government agencies. Stanley offers its customers systems integration solutions and expertise to support their mission-essential needs at any stage of program, product development or business lifecycle through five service areas: systems engineering, enterprise integration, operational support, business process management, and advanced engineering and technology. Headquartered in Arlington, Va., the company has approximately 5,000 employees at over 100 locations in the U.S. and worldwide. Stanley has been recognized by FORTUNE® magazine as one of the "100 Best Companies to Work For" from 2007 through 2009. Please visit http://www.stanleyassociates.com for more information.
Any statements in this press release about our expectations about future financial performance, plans and prospects, including statements containing the words "estimates," "anticipates," "plans," "expects" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in our Annual Report on Form 10-K for the fiscal year ended March 31, 2009, as filed with the Securities and Exchange Commission (SEC), and additional filings we make with the SEC. In addition, the forward-looking statements included in this press release represent our views as of the date of this release. Except as required by law, we assume no obligation to update publicly or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.
MOUNTAIN VIEW, Calif., March 11 -- Faster payment is now available to small websites with In Text ads.
Bloggers are often rejected by online advertisers because they "don't generate enough traffic to be profitable." They feel that no one wants to put ads on their websites and complain that they will never reach the high payment threshold offered by leading online ad networks.
Not anymore!
Infolinks, the leader of In Text pay per click advertising, actually believes in the potential of smaller websites and blogs to grow and generate revenue over time. That's why Infolinks accepts all websites, large and small, into their In Text advertising inner circle. According to company Vice President Tomer Treves, "From our perspective, a smaller site needs revenue in order to grow. That's why we're such a strong supporter of the so-called underdogs of the internet. Where other ad networks won't pay out until you've generated $100, Infolinks pays when you hit $50, which is now the lowest payment threshold in the In Text industry. This really sets us apart from the competition."
What's So Great About In Text Ads?
Besides being able to turn your website's copy into cash from day one -- Infolinks In Text ads are risk-free and guarantee the highest online revenue share in the In Text advertising industry.
What Does An In Text Ad Do That's So Different?
When bloggers integrate Infolinks In Text ads into their websites' copy, they notice a double underline on certain keywords within the text. Upon a mouse hover, an In Text ad bubble appears with an ad that relates directly to the keyword. If the readers want to know more about the advertiser's products or services, they just click on the ad bubble. That's all there is to it. Once they roll their cursor off the keyword, the ad disappears.
About Infolinks
Infolinks, Inc. is the fastest growing provider of In Text contextual advertising services, working with online content publishers worldwide. Infolinks enables website owners and publishers to benefit from premium In Text ads, while earning the highest revenue share -- guaranteed.