The Rocket Project Powered by Sony and Intel Helps Science Students Reach for the Stars
High School Students Use Intel Powered Sony VAIO Notebook to Build and Launch High-Power Rocket
SAN DIEGO, March 1 -- Overview
-- Eight selected high school science students to be given Sony VAIO® CW
series laptops to design and build a high power rocket.
-- Rocket to be 25 feet tall, weigh over 500 pounds and be capable of
reaching the stratosphere.
-- Students given accelerated rocketry course by Tom Atchison, Director
of the Association of Rocket Mavericks and leading figure in high
power rocket community.
-- Launch day in April at Black Rock Desert north of Reno, Nevada.
-- VAIO Z-Series: 13.1" screen, Intel® Core i5 Processor with Turbo Boost
provides the brains for rocket.
-- VAIO F-Series: 16.4" screen, Intel Core i7 Processor with Turbo Boost
will serve as mission control for the launch.
Quotes:
"Sony products empower and inspire consumers to make the seemingly impossible possible. The Rocket Project is giving a group of highly dedicated science students the rare opportunity to take their ideas beyond the surface of the Earth and actually reach for the stars. We could not be prouder of the role Sony VAIO technology is playing in making their ideas come to life."
-Alberto Escobedo, Director of Brand Messaging at Sony
"The laptops from Sony and Intel have more computational processing power than some of the first spacecraft to reach the Moon. But can a Sony VAIO laptop launch a rocket? That is what this extraordinary group of high school students is going to find out, and I am very excited to give them an accelerated course in rocketry and the unique hands-on experience of building something capable of blasting off into space."
-Thomas Atchison, Director of the Association of Rocket Mavericks
"The processing power of the Intel Core i7 processor is so great that one of the only limiting factors to innovation is imagination. The students in The Rocket Project demonstrate that America's scientists of tomorrow will take our technology to new heights."
-Erik Reid, Mobile Client Marketing Director, Intel Corporation.
ColdSpark Introduces New Managed Service for Automated Paperless Notifications for Healthcare Payer Organizations
New Service Improves the Effectiveness and Timeliness of Subscriber Electronic Communications, Reduces Overall Cost of Healthcare by Increasing Healthcare Advocacy
ATLANTA, March 1 -- BOOTH #4338 -- HIMSS10 - Healthcare IT Conference and Exhibition -- ColdSpark,(TM) a BakBone Software® company (BULLETIN BOARD: BKBO) , and leader in next-generation enterprise messaging platform and infrastructure, today announced a new managed services offering for Automated Paperless Healthcare Notifications for healthcare payer organizations.
News Highlights
-- Built upon the industry-proven ColdSpark technology platform, this new
managed service provides a turn-key platform for increasing the
effectiveness and timeliness of electronic delivery of explanation of
benefits (EoBs), account statements, billing invoices, enrollment kits
and other notifications in a compliant fashion.
-- ColdSpark's Automated Paperless Notification Solution helps healthcare
payer organizations reduce the material and personnel costs of
traditional print and postage by providing secure, traceable e-mail
delivery of these notifications and driving users to electronic
portals and Web sites.
-- In the face of increasingly complex technology infrastructures, IT
budget cutbacks and green initiatives, ColdSpark's solution allows
organizations to leverage their existing messaging infrastructures to
drive paperless communications while reducing the overall cost of
healthcare.
About ColdSpark's Managed Services for Automated Paperless Healthcare Notifications
-- Reduces the associated costs of print and postage for explanation of
benefits, account statements, billing invoices and other
notifications.
-- Integrates with existing portals and print systems to improve return
on investment and automation of existing systems and allows
organizations to leverage existing application infrastructures, such
as EMR, and e-mail archiving applications, into a centrally managed
solution.
-- Improves subscriber relationships by providing more proactive
subscriber engagement and more timely communications.
-- Provides a holistic view of subscriber e-mail and other electronic
communications.
-- Supports existing workflow and organizational approval requirements to
ensure security and compliance.
Quote
Ken Horner, senior vice president of Corporate Development and Strategy, ColdSpark: "Today, organizations deliver subscriber EoBs, along with account statements and billing information, through traditional print and mail channels. This process has associated costs in both materials and personnel that could be eliminated or reduced through a secure, compliant electronic delivery channel. Our new managed service for Automated Paperless Healthcare Notifications is a very cost-effective way for healthcare payers to quickly reduce print costs while retaining the power of existing marketing automation tools and shifting the burden of e-mail delivery management to the experts at ColdSpark."
ColdSpark is a leading provider of enterprise messaging infrastructure solutions and platforms, helping the world's most demanding companies increase the power of their e-mail to drive revenue, deepen customer relationships and improve business efficiency, while ensuring security, compliance and performance. ColdSpark's customers include many of the world's largest financial institutions and global 2000 enterprises. For additional information on ColdSpark solutions, or to schedule a demo, visit http://www.coldspark.com or call 866-902-2505.
About BakBone Software
BakBone Software is a leader in Universal Data Management. This provides a data-centric approach to integrating data protection, centralizing policy management and managing organizations' messaging infrastructure to optimize performance, increase data availability and improve corporate compliance. Learn more about BakBone's Universal Data Management vision at http://www.bakbone.com or e-mail info@bakbone.com.
BakBone®, BakBone Software®, NetVault®, Application Plugin Module(TM), BakBone logo®, Integrated Data Protection(TM), NetVault: SmartDisk(TM), Asempra®, FASTRecover(TM), ColdSpark® and SparkEngine(TM) are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.
Media contact:
BakBone Software
Amber Winans
858-795-7584
amber.winans@bakbone.com
GetResponse Study Reveals Top SMB Email Marketing Trends
480 Percent Increase in Video Email Usage; 90 Percent Increase in Social Media Integration; 64 Percent Confirm Video Email Significantly Increases Conversion Rates
WILMINGTON, Del., March 1 -- A new GetResponse Email Marketing Trends survey found that SMB marketers are becoming increasingly convinced of the benefits of video email, social media, and personalization or targeting. Over 80 percent of respondents plan to use video emails in 2010 and over 90 percent of SMB marketers plan to integrate social media into their email campaigns this year. Almost 64 percent of SMB marketers who use video emails claimed that it delivers significant increases in conversion rates. The survey is available for download here: http://www.getresponse.com/learning-center/reports/2010-email-marketing-trends -survey.html
Founder of GetResponse, Simon Grabowski, commented: "We were pleasantly surprised at the major uptick in SMB marketers planning to use video email marketing and social media integration in 2010. According to our 2009 study, video emails delivered close to a 100 percent increase in click through rates, so we know it works and expected the increase in use. But the 480 percent increase in planned video email use surprised even us!"
GetResponse (http://www.getresponse.com), a leading email marketing platform for the SMB sector and flagship product of online solutions provider Implix (http://www.implix.com), conducted the online survey in January and February 2010. The study asked over 200 SMB email marketers from a wide range of business sectors and countries to share their opinions regarding hot topics like video emails, social media integration, and the "war on inbox clutter".
In general, the results show that the SMB marketer's toolkit is looking more sophisticated and media-rich than at any time in recent history, thanks to user-friendly and affordable online tools. Some of the survey highlights included:
-- Video email marketing: Over 50 percent of respondents stated that
video emails can increase CTR. One of three marketers believes that
video can enhance brand image and/or increase customer loyalty. Over
20 percent of marketers believe that video emails can also reduce
support and training costs. Only 4.7 percent email marketers do not
see any benefits from using video emails.
-- Social media: A 113.2 percent increase in use of links to new messages
on social media pages; a 109.1 percent increase in use of sign-up
forms on Facebook, etc. fan pages; 88.8 percent will increase share
options and 71.6 percent more will place "follow us" links in email
messages.
-- Personalization: 53.80 percent of SMB respondents said they intend to
increase targeting and personalization in 2010; 52.40 percent will try
to improve email title and subject line personalization.
-- Behavioral targeting: Nearly 75 percent of marketers claim that
behavioral targeting can result in significant or moderate increases
in email marketing effectiveness. Only 2.8 percent did not consider
behavioral targeting an effective practice.
Grabowski added: "Today's marketers are mindful of the importance of delivering relevant content and one-to-one messaging based on preferences and behaviors. It's all about putting the "human element" back into marketing through the use of video and social media conversations. Combining these interactive techniques promises to be a very successful strategy for our SMB customers!"
GetResponse is an easy-to-use email marketing platform designed to increase email marketing ROI faster than any other medium for SOHO and SMB marketers. It is the first SOHO/SMB email marketing solution to offer audio and video recording, storage and delivery, Twitter integration, and an iPhone® application. The solution includes email analytics, unlimited follow-up messages, 300+ HTML templates, online surveys, and professional-level training and support. During its over 10-year history, GetResponse has grown to over 110,000 active users from 172 countries, delivering 5 billion permission-based emails per year.
About Implix
Implix was founded in 1999 by Internet marketing prodigy and entrepreneur, Simon Grabowski, whose vision of helping SOHO and small business marketers around the globe improve marketing efficiency, reduce costs, and increase profitability continues to define the company. Today, Implix maintains worldwide operations, with offices in the U.S., Canada and Europe.
CMO Council Inaugurates New GeoBranding Center With Brand South Africa Social Media Contest and Analytics
Get Wildly Creative About South Africa Ad Contest on Zooppa.com Invites Global Citizens to Dream Up Great Ways to Promote 2010 FIFA World Cup Destination Teams CMO Council with South Africa's International Marketing Council in First People-Inspired Nation Branding Initiative Using a Social Media Network
PALO ALTO, Calif., March 1 -- Think you can beat Madison Avenue at producing pithy one-liners or cool, zany brand commercials? If so, you'll want to enter the Get Wildly Creative About South Africa ad contest leading up to the FIFA World Cup. The football extravaganza to be hosted by this colorful, dynamic and diverse African nation is just 100 days away and South Africa is marking the start of the countdown on March 2 with a variety of patriotic celebrations and flag-flying spectacles.
The eight-week, people-inspired, online ad contest, opening March 15, is part of a major Nation Branding research project being undertaken by the Chief Marketing Officer (CMO) Council and the International Marketing Council of South Africa, which is responsible for defining and shaping Brand South Africa's image throughout the world.
With social media networks hosting billions of monthly visitors, conversations and connections, the CMO Council's new GeoBranding Center is looking to evaluate the level of voice, influence and creative pull in these interactive online communities, particularly as it relates to shaping perceptions of countries, destinations, locations and origin of products.
The Get Wildly Creative About South Africa ad contest will be hosted on the Zooppa.com people-inspired advertising platform and will use viral communications, online conversations, blog postings and cyber chatter to talk up interest and participation in this inventive country branding program targeted at the world's 1.7 billion Internet users.
Current and aspiring creative professionals, digital media buffs, South African citizens and expatriates, and anyone with a lust for travel to Africa, are invited to come up with inventive ways to produce a fresh and evocative message about a country that has gone from tragedy to triumph in less than two decades. Contest entry information and a creative brief, giving background on the contest assignment and links to South African resources, are available at the Zooppa.com contest center.
Cash and prizes -- donated by SA Tourism, in-country partners and creative technology solution providers -- will be awarded to the top submissions within each category including Best Print Campaign, Best Online Banner Campaign, and Best Video Segment or Commercial. Winning entrants will have their work showcased globally to the CMO Council's 5,000 members who control more than $150 billion in annual marketing spend and recognized at a special IMC-hosted reception in New York City, the world's media center and creative hub. They will also win trip packages courtesy of SA Tourism and other travel, hospitality, lodging and merchandise partners in South Africa.
"We're looking for inspired messaging and out-of-the-box advertising executions that capture and convey the essence, attributes and qualities of Brand South Africa," noted Donovan Neale-May, the executive director of the CMO Council, who pointed to the country's growing tourism, trade and economic development success.
"With the world's eyes upon it as host of the 2010 FIFA World Cup, South Africa is seeking to establish itself as a competitive and relevant nation brand," added Paul Bannister, CEO of the International Marketing Council of South Africa. "We're excited about the potential for social media channels to generate greater discourse and narrative about our brand from people who have experienced or researched our special place in the world."
Separately, the CMO Council's GeoBranding Center will be conducting monthly analytics on the tonality, sentiment and prevalence of conversations, commentary and news about Brand South Africa leading up to the four-week FIFA World Cup event, starting June 11. It will source PR Newswire's Social Media Metrics service, which tracks the tonality and sentiment of global media coverage through 30,000 online news sources in 12 languages. The platform also intelligently agents and analyzes five million forum posts a day, as well as conversations and commentaries in 20 million blogs, social media networks, news groups, bulletin boards, etc. "We're thrilled to partner with the CMO Council on this very exciting initiative and provide the team with powerful and meaningful analytics to support the success of the new GeoBranding Center," said Susan McPherson, vice president, business development at PR Newswire.
With billions invested in this year's Africa sports spectacular, the CMO Council's GeoBranding Center will be looking at the host country's effectiveness in shaping perceptions and using the global football spectacle to optimize its reputation and appeal worldwide. Key determinants of Nation Brand value creation will be effective message management and clarity of brand positioning relative to the visitor/player experience, global media attention, and viral online community conversations and content sharing. Special research in the area of Nation Branding and the measurement of mega-sports event sponsorship effectiveness is a new area of authority leadership by the Chief Marketing Officer (CMO) Council.
About the CMO Council
The Chief Marketing Officer (CMO) Council is dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide-range of global industries. The CMO Council's 5,000 members control more than $150 billion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include over 12,000 global executives across 100 countries in multiple industries, segments and markets. Regional chapters and advisory boards are active in the Americas, Europe, Asia Pacific, Middle East and Africa. The Council's strategic interest groups include the GeoBranding Center, Coalition to Leverage and Optimize Sales Effectiveness (CLOSE), Marketing Supply Chain Institute, Customer Experience Board, LoyaltyLeaders.org, Online Marketing Performance Institute, and the Forum to Advance the Mobile Experience (FAME). http://www.cmocouncil.org
About the International Marketing Council of South Africa
The International Marketing Council of South Africa was established in August 2002 to help create a positive and compelling brand image for South Africa. At that time, the world was unsure about what to think of South Africa, with many different messages being sent out by various sources. This did very little to build the country's brand and it was evident that to attract tourism and investment there was a need to co-ordinate marketing initiatives to make them more effective. This led to the creation of the IMC, whose main objective is the marketing of South Africa through the Brand South Africa campaign. There are many benefits to having a consolidated brand image, with the most important being that a consistent Brand South Africa message creates strategic advantages in terms of trade and tourism for the country in an increasingly competitive marketplace. More info at: http://www.brandsouthafrica.com/
Link to Royalty Free Digital Images of South Africa
CONNECT Reference System Receives 'Authority to Operate' from the Department of Health and Human Services
Harris Achieves Key Milestone with CONNECT Reference System
WASHINGTON, March 1 -- The CONNECT Reference System - developed and hosted by Harris Corporation (NYSE:HRS) under contract to the Federal Health Architecture - achieved another milestone by receiving "Authority to Operate" status from the Department of Health and Human Services.
Upon demonstrating compliance with established certification and accreditation criteria and the Federal Management Security Act (FISMA), the Department of Health and Human Services' Chief Information Security Officer granted the CONNECT Reference System the Authority to Operate (ATO).
This milestone achievement means that federal agencies now have a secure endpoint for testing their CONNECT implementations, as well as provides a certification and accreditation reference system. Federal agencies may now use the FISMA-compliant system to optimize agency-specific certification and accreditation.
"Achieving ATO status is a significant milestone for CONNECT - certifying that the software protects the confidentiality, integrity and data availability in the reference system," said Jim Traficant, vice president, Harris Healthcare Solutions. "The certification provides assurance to federal agencies seeking to reduce security risks and cost as they install CONNECT within their IT enterprises."
The open source CONNECT solution, developed by Harris with partners Agilex and Scenpro, is a gateway to the Nationwide Health Information Network that enables federal agencies and private sector healthcare providers to securely exchange electronic patient information. This CONNECT solution helps to improve quality and continuity of care, accelerates access to benefits and reduces costs.
Harris Healthcare Solutions provides enterprise intelligence solutions and services for government and commercial customers - including systems integration, intelligent infrastructure, advanced visualization and display, enterprise digital content management and IT solutions. A leader in federal healthcare IT integration, Harris products, systems and services improve healthcare outcomes by assuring that critical medical and benefits information is delivered with security and privacy to the right person, on the right device, at the point of care.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets worldwide. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com.
Source: Harris Corporation
CONTACT: Sleighton Meyer, Harris Healthcare Solutions,
sleighton.meyer@harris.com, +1-321-727-6514; Jim Burke, Harris Corporation,
jim.burke@harris.com, +1-321-727-9131; or Marc Raimondi, Harris Corporation -
Washington, D.C., marc.raimondi@harris.com, +1-202-729-3732
California Hospital Is First to Use Medical Image Disaster Recovery Service Developed by Harris Corporation and Siemens Healthcare
Provides Fast, Secure Storage and Recovery of Patient Information
ATLANTA and LOS ANGELES, March 1 -- (HIMSS '10, Booth #3133) - A collaborative effort between Harris Corporation (NYSE:HRS) and Siemens Healthcare now gives healthcare providers an affordable, outsourced solution for disaster recovery. The companies' new medical image disaster recovery service reduces the need for significant capital investment by healthcare providers.
Under the Health Insurance Portability and Accountability Act (HIPAA), healthcare providers are required to ensure data security and disaster recovery of patient records. For these providers, building the necessary local infrastructure to meet HIPAA requirements is resource-intensive, complex and expensive.
Pomona Valley Hospital Medical Center is the first healthcare facility to install the new outsourced disaster recovery service, which enables medical imaging data to be recovered quickly in the event of an on-site disaster. The medical center installed the disaster recovery solution in February. Located in southern California, the 453-bed acute care, not-for-profit teaching hospital serves patients in eastern Los Angeles and western San Bernardino counties.
"Secure back-up of our local Picture Archiving Communications Systems - or PACS - in a remote data center is an instrumental part of our business continuity provisions and a HIPAA enabler," said Kent Hoyos, CIO of Pomona Valley Hospital Medical Center. "We are excited to be the first customer to implement this solution."
Imaging systems -- such as, but not limited to, computed tomography, magnetic resonance, angiography, ultrasound and radiography -- send the digital imaging data to the local Picture Archiving Communications System's long-term archive. For safe and duplicate storage, a copy of the imaging data is securely transmitted throughout the day to a Harris data center in Melbourne, Florida. If a disaster or maintenance interrupts access to the local archive, the medical image service then provides the hospital with ready access to remotely stored images through a dedicated, secure wide area communications network.
"With this offering, there is no need for any upfront capital investment," said Jim Traficant, vice president of Harris Healthcare Solutions. "First, because it's based mainly on the infrastructure and managed disaster recovery resources available from Harris. And second, it also leverages the customer's existing PACS hardware and software. Beyond cost-savings, the greatest benefit to the healthcare provider - and, ultimately, the patient - is the assurance of fast and secure recovery in the event data is lost in a natural or human-induced disaster."
Arthur Kaindl, CEO, Image and Knowledge Management, Siemens Healthcare, said: "The Pomona Valley launch of the Harris Corporation and Siemens Healthcare image disaster recovery service reinforces that healthcare providers are taking the appropriate precautions to protect their patients' vital healthcare information in the event of an emergency. As more and more patient imaging data becomes digitized, we are proud to be partnering with Harris to deliver this sort of customer-focused recovery solution."
As a provider of innovative solutions for imaging IT, Siemens Healthcare's imaging workflow solutions assist healthcare providers in achieving greater efficiency and accuracy while creating opportunities for the provider to reduce costs. Siemens IKM offerings encompass products and solutions for Radiology Information Systems, PACS and Cardiovascular PACS, as well as advanced imaging applications and Computer-Aided Detection.
Harris Healthcare Solutions provides enterprise intelligence solutions and services for government and commercial customers -- including systems integration, intelligent infrastructure, advanced visualization and display, enterprise digital content management and IT solutions. A leader in federal healthcare IT integration, Harris products, systems and services improve healthcare outcomes by assuring that critical medical and benefits information is delivered with security and privacy to the right person, on the right device, at the point of care.
About Siemens Healthcare Sector
The Siemens Healthcare Sector is one of the world's largest suppliers to the healthcare industry and a trendsetter in medical imaging, laboratory diagnostics, medical information technology and hearing aids. Siemens offers its customers products and solutions for the entire range of patient care from a single source - from prevention and early detection to diagnosis, and on to treatment and aftercare. By optimizing clinical workflows for the most common diseases, Siemens also makes healthcare faster, better and more cost-effective. Siemens Healthcare employs some 48,000 employees worldwide and operates around the world. In fiscal year 2009 (to September 30), the Sector posted revenue of 11.9 billion euros and profit of around 1.5 billion euros. For further information please visit: http://www.siemens.com/healthcare.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets worldwide. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com.
Source: Harris Corporation
CONTACT: Sleighton Meyer, Harris Healthcare Solutions,
sleighton.meyer@harris.com, +1-321-727-6514; Jim Burke, Harris Corporation,
jim.burke@harris.com, +1-321-727-9131; or Marc Raimondi, Harris Corporation -
Washington, D.C., marc.raimondi@harris.com, +1-202-729-3732
Harris Corporation Delivers Release of CONNECT 2.3, Built Under Contract with the Federal Health Architecture
Advances Federal Initiative to Promote Health IT, Nationwide Interoperability
ATLANTA, March 1 -- (HIMSS '10, Booth #3133) -- Harris Corporation (NYSE:HRS) has released the newest version of CONNECT software to enable healthcare organizations to securely exchange patient information on the Nationwide Health Information Network (NHIN). The CONNECT solution was developed under contract for the Federal Health Architecture (FHA) project within the Office of the National Coordinator for Health Information Technology.
CONNECT 2.3 offers key feature enhancements to the open source enterprise framework, and compliance with updated NHIN specifications The open source CONNECT is being widely embraced as a health information exchange solution for NHIN connectivity, with many health enterprises abandoning proprietary solutions and opting instead for the CONNECT open source platform.
"For the sixth consecutive time, Harris has delivered the CONNECT release on schedule and budget with full functionality," said Jim Traficant, vice president of Harris Healthcare Solutions. "CONNECT 2.3 is a significant milestone enabling limited operational production for secure health information exchange between federal agencies and with private health enterprises."
Social Security Administration (SSA) was the first federal agency to go live with CONNECT in February 2009, receiving data from private provider MedVa. Later that summer, MedVA migrated to CONNECT from its original proprietary interface, with the Harris-led CONNECT Team supporting advancement to NHIN production. As a result, Social Security reduced the time for disability claims processing from months to days.
CONNECT 2.3's new platform independence makes it easier for users to leverage contributions from the open source community. As a leading international communications and information technology company, Harris - along with its teammates Agilex Technologies and Scenpro - continues to foster and support the CONNECT Open Source Community. The team supported two major CONNECT Open Source Community forums in late 2009 - the Release 2.3 Webinar in October and the CONNECT Code-A-Thon in November.
"Open Source CONNECT is key to accelerating the National priority of digitized medical records and secure health information exchange," said Traficant.
Additional benefits of CONNECT 2.3 include:
-- Platform independence, supporting both Linux and Windows operating
systems.
-- Ability to specify the software's behavior when processing results of
a patient's discovery.
-- Ability to determine whether patient correlations have short or long
durations.
-- New features that support consent and compliance with the U.S.
government computer security standard, FIPS 140-2.
The CONNECT solution is sponsored by the Federal Health Architecture (FHA) project within Health and Human Services. FHA received the 2009 Information Week's Government Innovator Award for the CONNECT Solution and was recognized as one of "10 Government Organizations that Understand IT Innovation."
Harris Healthcare Solutions provides enterprise intelligence solutions and services for government and commercial customers - including systems integration, intelligent infrastructure, advanced visualization and display, enterprise digital content management and IT solutions. A leader in federal healthcare IT integration, Harris products, systems and services improve healthcare outcomes by assuring that critical medical and benefits information is delivered with security and privacy to the right person, on the right device, at the point of care.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets worldwide. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com.
Source: Harris Corporation
CONTACT: Sleighton Meyer, Harris Healthcare Solutions,
sleighton.meyer@harris.com, +1-321-727-6514, or Jim Burke, Harris Corporation,
jim.burke@harris.com, +1-321-727-9131, or Marc Raimondi, Harris Corporation
- Washington, D.C., marc.raimondi@harris.com, +1-202-729-3732
Harris Corporation Supports Via Oncology's Efforts to Extend Online Access to Best Cancer Treatment Recommendations to Oncologists
New Content Authoring System Updates Information in Less Than a Day - Instead of Five
ATLANTA, March 1 -- (HIMSS '10, Booth #3133) - Harris Corporation (NYSE:HRS) is collaborating with Via Oncology, a subsidiary of the University of Pittsburgh Medical Center (UPMC), to enhance Via Oncology's unique, Web-based decision support system that helps physicians determine the best treatment plan for cancer patients. The system is designed to ensure quality and reduce variability in the delivery of cancer care by leveraging a data-driven "decision tree" that oncologists can readily use in their day-to-day treatment of patients.
Under a three-month, quick-react contract from Via Oncology, Harris is providing the Content Authoring Module (CAM) for the Via Oncology Pathways tool. The new module is expected to dramatically reduce the time required to update the massive decision tree with new clinical content -- from five days to less than a day.
"The Via Oncology Pathways system enables equitable access to high-quality oncology care for patients seeking timely and effective cancer treatment," said Jim Traficant, vice president of Harris Healthcare Solutions. "The addition of the Harris CAM makes it easier for Via Oncology to quickly update recommended treatment information and patient education materials to keep pace with the rapid changes in evidence-based medicine."
UPMC is an $8 billion integrated global health enterprise and one of the leading, nonprofit health systems in the United States. Academic and community oncologists within the medical center developed Via Oncology Pathways to proactively address quality and cost containment in oncology care. The Via Oncology model emphasizes development of Pathways by expert panels of disease-specific academic and community oncologists, who establish a single, best treatment for each state and stage of disease -- based upon a hierarchy of effectiveness, toxicity and cost.
"We've been very impressed with Harris and its ability to develop creative solutions to allow the Via Oncology Pathways to keep pace on almost a real-time basis with the ever-changing cancer care landscape," said Kathy Lokay, President of Via Oncology.
Harris Healthcare Solutions provides enterprise intelligence solutions and services for government and commercial customers -- including systems integration, intelligent infrastructure, advanced visualization and display, enterprise digital content management and IT solutions. A leader in federal healthcare IT integration, Harris products, systems and services improve healthcare outcomes by assuring that critical medical and benefits information is delivered with security and privacy to the right person, on the right device, at the point of care.
About Via Oncology
Via Oncology is a cancer value management company and a subsidiary of the University of Pittsburgh Medical Center (UPMC). Via Oncology is committed to innovative solutions that address the quality and cost issues in cancer care today through the development and implementation of the Via Oncology Pathways, a set of treatment algorithms presented in a patient-specific decision support tool that help practicing oncologists provide the best possible cancer care. This unique approach helps payers and providers collaborate on appropriate models that drive improved patient outcomes and sustainable cost management. For more information, visit http://www.viaoncology.com.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets worldwide. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com.
Sungard Availability Services Presents at HIMSS10 Conference on how Healthcare Providers can Help Ensure Higher Operational Availability
WAYNE, Pa., March 1 -- Many healthcare organizations face ongoing challenges in safeguarding patient and clinical data for business continuity and regulatory needs. At the HIMSS10 Conference, SunGard Availability Services (booth #5840) will present on how healthcare providers can minimize data loss and IT downtime that impact business operations, applications and compliance processes.
The conference will feature a presentation by Brian McCory, senior solutions engineer at SunGard Availability Services, on "Reduce Risk and Contain Cost with Disk Storage." The session takes place on March 3 from 11:00 a.m. to 11:45 a.m. at the New Solutions Pavilion (booth #949).
During this session, Mr. McCory will outline strategies on how healthcare organizations can support production operations with onsite backup that provides quick retrieval of recently updated files, e-mails and other documents accidentally deleted or damaged. These strategies, according to Mr. McCory, must also include steps that help organizations speed up recovery after a systems crash or disaster by storing backup data at a secure secondary recovery center, where the data is available for fast restoration.
Mr. McCory's presentation will include a case study discussion of a large medical center that worked with SunGard to close its data recovery gap for critical medical records from more than 60 hours to less than 24 hours. He will use the case study to detail a specific action plan other organizations can take to help ensure higher operational availability of clinical and patient systems needed to deliver high-quality care and reduce costs.
"Healthcare organizations have unique, highly specialized data protection needs," said Mr. McCory. "By taking a case study approach, this presentation will outline the best practices for how healthcare service providers can address the challenge of fast-growing data volumes so they can improve information availability and recovery reliability."
SunGard Availability Services will be showcasing a number of innovative information availability solutions and software tools at Booth #5840. Included in the product demonstrations will be a disk-based backup and recovery solution that provides organizations with on-site operational restart capabilities and off-site recovery that can be integrated with existing backup software.
About SunGard Availability Services
SunGard Availability Services provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software to more than 10,000 customers in North America and Europe. With five million square feet of datacenter and operations space, SunGard assists IT organizations across virtually all industry and government sectors to prepare for and recover from emergencies by helping them minimize their computer downtime and optimize their uptime. Through direct sales and channel partners, we help organizations ensure their people and customers have uninterrupted access to the information systems they need in order to do business. To learn more, visit http://www.availability.sungard.com or call 1-800-468-7483.
About SunGard
SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at http://www.sungard.com.
Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
MICROS Systems, Inc. Announces Deployment of MICROS 9700 HMS at M Resort Spa Casino in Las Vegas
MICROS Application Services Enabled by a Single Cluster Utilizing VMware Virtual Infrastructure
COLUMBIA, Md., March 1 -- MICROS Systems, Inc. (NASDAQ:MCRS), a leading provider of information technology solutions for the hospitality and retail industries, is pleased to announce that the M Resort Spa Casino has implemented the MICROS 9700 Hospitality Management System (HMS), MICROS iCare, and MICROS Guest Connection. The single solution comprises over 120 MICROS point-of-sale (POS) workstations, coordinating operations among fine dining restaurants, bars, wine cellar, buffet, casino floor bars, room service, quick service, outside pool bars, retail, pharmacy and convenience store with gas station all on combination of MICROS 2010's and MICROS Workstation 5's. The MICROS 9700 HMS system went live in March 2009 utilizing VMware Virtual Infrastructure.
As the newest four-star resort in Las Vegas, the M Resort promises an unrivaled standard of personal service and resort amenities. After deploying MICROS 9700 in a virtual environment, the M Resort soon realized four significant advantages: enhanced technology scalability; disaster recovery which provides the ability to test and recover from a variety of system outages requiring less time and fewer resources; a higher degree of availability without incurring additional infrastructure costs; and virtualization, which saves on emissions output and electricity consumption, making the MICROS offering a more eco-friendly solution.
"The ability to offer table management, restaurant reservations, gift cards and POS all from one provider has been very beneficial. The ability for MICROS 9700 HMS to join the VMware cluster was not just practical; it became an early requirement in the system selection criterion," stated Rob Willis, Vice President of Information Technology, M Resort.
"We are very pleased to have been selected by the M Resort," stated Ed Chapel, Senior Vice President, MICROS North American Distribution. "IT organizations often gravitate toward virtualization to deliver operating cost reductions. These same organizations also benefit from a liberated environment where their emphasis can be directed at application delivery rather than the underlying technology. M Resort acknowledges the increasingly dynamic demands upon its resources and, with the implementation of a virtual environment, can respond to market dynamics faster and more efficiently than ever before."
About M Resort Spa and Casino
M Resort Spa Casino is located on over 90 acres at 12300 Las Vegas Blvd. S. on the southeast corner of St. Rose Parkway and Las Vegas Boulevard. Situated higher in elevation than other resort-casinos on the Las Vegas Strip, the M Resort provides optimal views of the world-famous Las Vegas skyline from its guest rooms, suites, conference center and restaurants. The resort offers 390 guest rooms and suites, over 92,000 square feet of gaming, nine restaurants and five destination bars, more than 60,000 square feet of meeting and conference space, a state-of-the-art spa and fitness center and a 100,000 square foot events piazza. Future developments for M Resort will bring up to one million square feet of retail in a partnership with Taubman Centers Inc. and a 14-screen digital movie entertainment complex. For more information, visit http://www.theMresort.com.
About MICROS Systems, Inc.
MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries worldwide. Over 310,000 MICROS systems are currently installed in table and quick service restaurants, hotels, motels, casinos, leisure and entertainment, and retail operations in more than 130 countries, and on all seven continents. In addition, MICROS provides property management systems, central reservation and customer information solutions under the brand MICROS-Fidelio for more than 25,000 hotels worldwide, as well as point-of-sale, loss prevention, and cross-channel functionality through its MICROS-Retail division for more than 90,000 retail stores worldwide. MICROS stock is traded through NASDAQ under the symbol MCRS.
For more information on MICROS and its advanced information technology solutions for the hospitality industry, please contact Louise Casamento, Vice President of Marketing at (443) 285-8144 or (866) 287-4736. You can also visit the MICROS website at http://www.micros.com or send an email to info@micros.com.
The MICROS logo is a registered trademark of MICROS Systems, Inc. All other product and brand names are the property of their respective owners.
Source: MICROS Systems, Inc.
CONTACT: Louise Casamento, Vice President of Marketing of MICROS
Systems, Inc., +1-443-285-8144
Motorola Introduces New Digital Imager Designed to Improve Patient Care in Healthcare Environments
DS6878-HC cordless bar code scanner inhibits the spread of germs, extends mobility and provides real-time information at the point of care
ATLANTA, March 1 -- HIMSS 2010 (Booth # 7701) - The Enterprise Mobility Solutions division of Motorola, Inc. (NYSE:MOT) today announced its newest advanced data capture solution for healthcare - the DS6878-HC cordless 2D imager. The DS6878-HC imager extends the access of critical information to the patient's bedside, the nurse's station, operating room and beyond with the highest levels of reliability and performance. Specifically designed to withstand the rigors of everyday use in demanding healthcare environments, the DS6878-HC helps to prevent medical errors, improve patient safety and increase caregiver productivity by providing real-time and convenient access to information.
"Mobility is critical to healthcare organizations as they strive to improve processes, ensure patient safety and overcome challenges associated with staffing shortages," said Vivian Funkhouser, principal of healthcare solutions, Motorola Enterprise Mobility Solutions. "Motorola's DS6878-HC digital imager delivers on Motorola's commitment to improving healthcare operations with a high-performance data capture solution ideal for a multitude of healthcare operations - from medication administration to specimen collection, admitting to asset tracking and dietary management."
The DS6878-HC redefines imaging technology and allows healthcare personnel to scan documents such as drivers' licenses and insurance cards for identification, as well as facial images, to quickly and efficiently create and maintain electronic medical records (EMRs). Motorola's new cordless imager enables hospitals to automate operations, improve data accuracy, increase productivity and streamline operational efficiencies in patient rooms, admitting, laboratories and pharmacies. Easy-to-use, intuitive and ergonomically designed for user comfort, the DS6878-HC helps caregivers focus on their top priority - the patient.
The new DS6878-HC is designed to reduce the spread of germs and protect patients and caregivers against dangerous and deadly illnesses. IP43 sealing, in combination with a specially designed plastic housing, creates a disinfectant-ready design that allows safe wipe-downs and sanitizing with bleach, alcohol, soap and water -- without harming the housing or the sensitive scanning components. And with its ability to withstand six-foot drops to concrete, the new digital imager provides dependable operations despite inevitable drops in various healthcare environments.
With its unmatched combination of features and functionality, Motorola's newest digital imaging solution meets the unique requirements of demanding healthcare facilities with the ability to capture 1D or 2D bar codes, as well as signatures, documents, still photographs and video. Offering a single device to streamline processes throughout the healthcare environment, the DS6878-HC cordless digital imager is built on Motorola's revolutionary SE4500 scan engine to help guarantee superior performance in fast-paced environments. With its intuitive aiming pattern, the DS6878-HC provides laser-like performance and can capture even the most poorly printed or damaged bar codes with ease. And with omni-directional scanning, it eliminates the need to precisely align bar code and imager for ultimate convenience and productivity for the user while minimizing disruption to resting patients. In addition, Bluetooth® functionality allows the user to easily access a bar code to minimize patient inconvenience and to provide rapid capture of information in emergency situations. And for added convenience and reliability, the DS6878-HC can be charged over the USB cable connected to its base, which also is disinfectant-ready and has been optimized for use on most medical carts. This eliminates the need for a separate power supply, and thus the typical cable management challenges associated with mounting a cordless scanner to a medical cart, computer cart or mobile workstation are greatly reduced.
To help keep the DS6878-HC scanners up and running at peak performance -- and in the hands of healthcare personnel -- Motorola Enterprise Mobility Services recommends Service from the Start Advance Exchange Support. This exceptional service minimizes downtime with next-business-day replacement of devices that require repair. The DS6878-HC will also be protected from the unexpected with built-in Comprehensive Coverage, which includes normal wear and tear, as well as coverage for internal and external components damaged through accidental breakage. Unforeseen repair expenses are significantly reduced, providing service peace of mind from the date of purchase. Additionally, technical software support helps to keep the DS6878-HC running at optimal efficiency -- and medical staff connected to their critical business systems.
Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola (NYSE:MOT) had sales of US $22 billion in 2009. For more information, please visit http://www.motorola.com.
Media Contact:
Traci Hoch
Motorola
+1.631.738.5426
traci.hoch@motorola.com
MOTOROLA and the stylized M Logo are registered in the US Patent & Trademark Office.
CIBER Strategic Partnership with CNL Software Enhances CIBERSecure
GREENWOOD VILLAGE, Colo., March 1 -- CIBER Federal, a division of CIBER, Inc. (NYSE:CBR), announced today that it is partnering with CNL Software, Inc., a world leader in developing Physical Security Information Management (PSIM) software.
This partnership will allow CIBER to use the CNL software development tools to provide its clients with an unmatched Command and Control solution to meet their needs for security integration and management software.
CNL will work with CIBER's Enterprise Security Solutions (ESS) Group, the CIBER organization that provides end-to-end security solutions for government and commercial clients worldwide. With a decade of excellence in designing and successfully delivering integrated security and situation management solutions, CIBER helps organizations achieve enterprise-wide intelligent security solutions.
"The PSIM momentum continues to grow and mature. We are now seeing these solutions becoming commonplace in large scale security deployments both in the US and globally," said Matthew Kushner, CNL President, Americas. "Our partnership with CIBER will help move this technology further into the enterprise market, with a particular focus on critical infrastructure protection."
Erin Phelps, CIBER Vice President, Enterprise Security Solutions, commented, "At CIBER, we know physical security doesn't operate in a vacuum. Physical security systems sit alongside other critical applications. These applications encompass IT security applications, emergency operations management, asset management, business operations management, and facility management systems."
CIBER's Enterprise Security Solutions group provides integrated physical and logical security systems and services for mission-critical clients world-wide, including a state-of-the-art command & control solution, CIBERSecure. CIBERSecure is an open-system architecture solution that has the power and flexibility to implement automated organization-based policy response rules and system-to-system data sharing for comprehensive event management. CIBERSecure helps organizations understand, respond to, and recover from security incidents more efficiently.
"CNL software will enhance CIBERSecure's system integration capabilities, allowing the transfer of data needed to support real-time situational awareness, as well as the sharing of event data and automated response procedures among multiple agencies," said Phelps. "CIBERSecure not only capitalizes on the technology investments that our clients have made so far, but importantly allows them to remain free to select the best emerging technology in the future with the confidence that it can be integrated into their overall security management as their security needs change."
CNL is a world leader in developing Physical Security Information Management (PSIM) software. Its award-winning technology is deployed to secure cities, critical resources and global commerce. CNL's software sits at the heart of some of the largest, most complex and ground-breaking security integration and business value initiatives in the world. Their work with leading organizations is helping to shape the future of security by offering thought leadership on key issues such as energy reduction, process compliance and business advantage in converged environments. http://www.cnlsoftware.com.
About CIBER, Inc.
CIBER, Inc. (NYSE:CBR) is a pure-play international IT outsourcing and software implementation and integration consultancy with superior value-priced services and reliable delivery for both private and government sector clients. CIBER's services are offered globally on a project- or strategic-staffing basis, in both custom and enterprise resource planning (ERP) package environments, and across all technology platforms, operating systems and infrastructures. Founded in 1974 and headquartered in Greenwood Village, Colo., CIBER now serves client businesses from over 40 U.S. offices, 25 European offices and seven offices in Asia/Pacific. Operating in 18 countries, with more than 8,000 employees and annual revenue in excess of $1 billion, CIBER and its IT specialists continuously build and upgrade clients' systems to "competitive advantage status." CIBER is included in the Russell 2000 Index and the S&P Small Cap 600 Index. CIBER, the Reliable Global IT Services Partner. http://www.ciber.com.
Raytheon Names William F. Kiczuk Vice President, Chief Technology Officer
WALTHAM, Mass., March 1, 2010 -- Raytheon Company (NYSE:RTN) has appointed William F. Kiczuk to the position of chief technology officer and vice president, reporting to Mark E. Russell, the company's vice president of Engineering, Technology and Mission Assurance.
In this role, Kiczuk will be responsible for developing and executing an integrated technology and research strategy for the company. He will chair the company's technology leadership team, which oversees Raytheon's collective research collaboration and technology opportunities. He will also represent the company on outside councils regarding technology and the defense industry.
"Bill leads with a deep understanding of our technologies from complex systems to components," said Russell. "As CTO, he'll leverage this broad domain knowledge to align Raytheon's world-class people and technology as we continue to meet our customers' most pressing needs."
Kiczuk is a Raytheon senior principal engineering fellow with nearly 30 years' experience with the company. He joins the corporate team from Raytheon Integrated Defense Systems where he had been technical director and director, Strategic Architectures, since 2003.
Prior to that, Kiczuk held technical leadership positions at Raytheon Network Centric Systems where he was director of technology development efforts for the Future Combat Systems program and served as technical director of the Integrated Land Combat System department.
Raytheon Company, with 2009 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 88 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 75,000 people worldwide.
Contact:
Jon Kasle
781.522.5110 (office)
Jon_kasle@raytheon.com
Metastorm Positioned in Leaders Quadrant in Leading Industry Analyst Firm's 'Magic Quadrant for Business Process Analysis Tools' Report
BALTIMORE, March 1 -- Metastorm, a leading provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution, today announced that it has been positioned in the Leaders quadrant of the Gartner Magic Quadrant for Business Process Analysis Tools(1), published February 22, 2010.
Gartner, Inc.'s Magic Quadrant positions vendors in a particular market segment based on their completeness of vision and ability to execute. Metastorm has also recently been placed in the Leaders quadrant of the Magic Quadrant for Enterprise Architecture tools(2) published November 12, 2009 by Gartner, Inc. and in the Leaders quadrant of the Magic Quadrant for Business Process Management Suites (BPMS)(3) published February 18, 2009.
The Magic Quadrant for Business Process Analysis tools report states: "BPA tools are key components of BP improvement initiatives, and the discipline of BPM. BPA tools are used by business analysts and architects to construct BP models. Process modeling is a key BPM technology when used in a BPMS (models are in sync with the implementation -- that is, the BPM model artifacts should always reflect what's being executed). In this capacity, BPA tools complement BPMS tools by enabling deeper, multilevel modeling (conceptual, logical and physical in greater detail, including relationship mapping) than the modeling component of a BPMS."
Metastorm ProVision® for BPA provides a comprehensive solution that allows organizations to discover, model, analyze and optimize their business processes. Metastorm ProVision's ease of use, built in methodologies, wide array of industry reference models, and integrated user guides, provide rapid time to value; and its rich simulation and analysis capabilities help organizations achieve continuous process improvements. Unlike other BPA software products, Metastorm ProVision also provides deep enterprise and business architecture functionality to allow organizations to better understand the relationship of business processes to the broader enterprise. And paired with Metastorm BPM®, an organization can execute process improvement initiatives with great speed and agility at minimal cost.
Based on customer feedback, Metastorm has one of the highest customer satisfaction ratings in the BPA market.
Metastorm ProVision is part of the Metastorm Enterprise software portfolio, which uniquely combines leading, best-of-breed EA, BPA, and BPM capabilities on a common, integrated framework.
Together, these solutions deliver a powerful platform for aligning strategy, analysis and execution.
"Metastorm is pleased with our position in the Leaders quadrant in three Gartner Magic Quadrant reports - EA, BPA and BPMS - and believe it is a testament to our ongoing commitment to helping our customers better align strategy with analysis and execution to deliver real business results," stated Bob Farrell, chairman & CEO of Metastorm. "Metastorm will continue to provide best-of-breed capabilities across these three disciplines. Our recent release of Metastorm ProVision Version 6.2 will further help our customers obtain the understanding, visibility and governance necessary to achieve a competitive advantage in today's challenging business environment."
Metastorm recently announced a new release of Metastorm ProVision, Version 6.2, which includes enhanced collaboration and object reuse for wide-scale enterprise business improvements. A social media version of the Metastorm ProVision Version 6.2 announcement is available at http://www.metastorm.com/news/2010/020910.asp.
(1) Gartner, Inc., "Magic Quadrant for Business Process Analysis Tools" by David Norton, Mike Blechar, Teresa Jones, February 22, 2010.
(2) Gartner, Inc., "Magic Quadrant for Enterprise Architecture Tools" by Robert Handler and Chris Wilson, November 12, 2009.
(3) Gartner, Inc., "Magic Quadrant for Business Process Management Suites" by Janelle B. Hill, Michele Cantara, Marc Kerremans, and Daryl C. Plummer, February 18, 2009.
About the Magic Quadrant
The Gartner Magic Quadrants are copyrighted February 2009 and 2010 by Gartner, Inc., and are reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Metastorm Inc.
With a focus on enterprise visibility, resource optimization, efficiency and agility, Metastorm offers market-leading software for enterprise and business architecture (EA), business process analysis (BPA), and business process management (BPM). As an integrated product portfolio, Metastorm Enterprise allows organizations to improve business results by better aligning strategy with execution. By combining the power of these three disciplines onto a common platform, Metastorm is helping organizations worldwide focus on the right business improvements, instill stronger governance, and accelerate time to value. For more information and success stories on organizations powering strategic advantage with Metastorm Enterprise, visit http://www.metastorm.com.
Source: Metastorm
CONTACT: Erin O'Brien, Metastorm, +1-443-703-1817, or
+44-(0)-208-971-1519, eobrien@metastorm.com; or Shahed Ahmed, Merritt Group,
+1-703-390-1515, ahmed@merrittgrp.com
Tracker Beijing Rolls Out Stolen Vehicle Recovery Solution to Address Motor Vehicle Theft in China
China surpasses the US in motor vehicle sales, experiences higher car theft incidents
BEIJING, March 1 -- Beijing Tracker Electronic Science & Technology Co., Ltd. ("Tracker Beijing") announces today the official launch of its Stolen Vehicle Recovery ("SVR") service for the People's Republic of China ("PRC") on June 1, 2010. Tracker Beijing's SRV service will be offered in partnership with, Tracker Asia, initially in Beijing, Tianjin and Hebei Provinces and then will be expanded into the Guangdong Province and the Greater Shanghai Area soon afterward.
China has surpassed the United States to become the world's biggest car market. In 2009, Chinese sales of cars, trucks and other vehicles soared to 13.6 million, a 46 percent rise from the previous year's levels and comfortably higher than the 10.4 million equivalent vehicles sold in the United States last year. Only three decades ago, there were only one million privately owned cars throughout China.
With rapid growth in vehicle sales, China is experiencing a fast growing and severe vehicle theft problem. Tracker Beijing offers a highly effective and affordable solution to combat motor vehicle theft, and is equipped with covert tracking technology that provides location and recovery of vehicles even when hidden within steel containers garages, or under heavy foliage.
"We are confident that China represents a substantial opportunity for Tracker Beijing, and with the experience that the Tracker Asia management team brings and support of PRC authorities and our strategic partners, we will be able to offer a very effective SVR solution to the China market," said Dong Bin, General Manager, Tracker Beijing.
"Our team of international management team has more than two decades of combined experience in the area of stolen vehicle recovery. We believe the experience we bring will greatly enhance Tracker Beijing in its entry into the China market," added Michael Tang, CEO of Tracker Asia.
Beijing Tracker Electronic Science & Technology Co., Ltd is a company incorporated in Beijing PRC and has been set up to operate fleet management and stolen vehicle recovery services in China.
Tracker Asia Ltd. is a company incorporated in Hong Kong. Its primary focus is in the investment and management of companies in the fleet management and stolen vehicle recovery sectors. Its management team has been operating the LoJack SVR system in Hong Kong since 1999.
Media Contact:
Jo Soo
Edelman
Tel: +852-2837-4744
Email: jo.soo@edelman.com
Telestone Technologies Corporation to Present at the 2010 Rodman & Renshaw Annual China Investment Conference in Beijing
BEIJING, March 1 -- Telestone Technologies Corporation (Nasdaq: TSTC, "Telestone" or the "Company") a leading developer of local access network solutions, products, and engineering services today announced it will present at the Rodman & Renshaw Annual China Investment Conference to be held March 7-9 in Beijing, China. Presentation details are noted below.
Date: March 9, 2010
Time: 9:25 am Beijing Time
Location: Diamond III, The Regent Hotel, Beijing China
Presenter: Mr. Daqing Han - Chairman & CEO
Mr. Ren Hu - Board Secretary
Conference participation is by invitation and registration is mandatory. For more information on the conference, contact your Rodman & Renshaw representative or visit http://www.rodm.com/ .
About Rodman & Renshaw (NasdaqGM: RODM)
Rodman & Renshaw Capital Group, Inc., (NasdaqGM: RODM) through its subsidiaries, engages in investment banking business. It offers corporate finance services focusing on various public and private equity products, which include private investment in public equity, registered direct offerings, private placements, and public offerings, as well as provides Collateralized Acquisition Pool, a product used to facilitate a targeted acquisition. The company also involves in strategic advisory services, which include identifying and/or evaluating acquisition targets or acquirers; providing valuation analyses; evaluating and proposing financial and strategic alternatives; rendering fairness opinions; advising on timing, structure, and pricing of transaction; assisting in negotiating and closing a transaction; advising on the sale process; and assisting in preparing a memorandum or other sales materials. In addition, it provides merchant banking and asset management services. Rodman & Renshaw Capital Group serves public and private biotechnology companies. The company is headquartered in New York, New York.
About Telestone Technologies Corporation
Telestone is a leading innovator in local access network technologies and solutions. Telestone is a global company with 26 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has been installing radio-frequency based 1G and 2G systems throughout China for China's leading telecommunications companies. After intensive research on the demands of carriers in the 3G age, Telestone developed its third generation technology, WFDS(TM) (Wireless Fiber-Optics Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone offers services that include project design, project manufacturing, installation, maintenance and after-sales support. Telestone Technologies has approximately 1,200 employees.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Investor Relations:
John Mattio
HC International Inc.
Tel: +1-203-616-5144
Email: john.mattio@hcinternational.net
Source: Telestone Technologies Corporation
CONTACT: Company: Ren Hu, Board Secretary, +1-201-887-0415, or
huren@telestone.com; Or Investor Relations: John Mattio of HC International
Inc., +1-203-616-5144, or john.mattio@hcinternational.net
SunPower Signs 32-Megawatt Solar Power Supply Agreement With Toshiba
SAN JOSE, Calif., March 1 -- SunPower Corp. (NASDAQ:SPWRA)(NASDAQ:SPWRB) announced today that, under a strategic supply agreement, Toshiba Corporation (TOKYO: 6502) will order 32 megawatts of high-efficiency solar panels from SunPower in 2010. The SunPower panels will form the cornerstone of Toshiba's new residential solar offering in Japan, to be launched on April 1.
"We welcome the opportunity to partner with Toshiba, a preeminent business leader in Japan and throughout the world," said SunPower CEO Tom Werner. "SunPower panels are particularly well suited to Japan's residential market, where the new Japanese feed-in-tariff rewards production of solar energy in excess of domestic consumption, but available roof area is typically quite small. SunPower high efficiency systems will allow more customers to take advantage of this incentive."
"Toshiba's residential solar power business will offer homeowners the most efficient solar power systems available, with a focus on quality and reliability," said Shoji Takenaka, chief technology executive of Transmission Distribution & Industrial Systems Company, Toshiba Corporation. "We are very pleased to work with SunPower, as their solar photovoltaic panels achieve high levels of performance and reliability, and their excellent efficiency supports space-saving solutions that directly meet the needs of consumers in Japan."
SunPower almost doubled production of its high-efficiency solar cells and panels from 2008 to 2009, with 2009 cell production of approximately 400 megawatts. In 2010, the company intends to expand production further with new manufacturing operations in Malaysia, the United States and Europe.
About SunPower
Founded in 1985, SunPower Corp. (NASDAQ:SPWRA)(NASDAQ:SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit http://www.sunpowercorp.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "will" and "intends" to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) Toshiba purchasing 32 megawatts of solar panels from SunPower; and (b) SunPower expanding its manufacturing operations in Malaysia, the United States and Europe. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) the company's ability to obtain and maintain an adequate supply of raw materials and components, as well as the price it pays for such items; (ii) general business and economic conditions, including seasonality of the industry; (iii) growth trends in the solar power industry; (iv) the continuation of governmental and related economic incentives promoting the use of solar power; (v) the improved availability of third-party financing arrangements for the company's customers; (vi) the company's ability to ramp new production lines and realize expected manufacturing efficiencies; (vii) manufacturing difficulties that could arise; and (viii) other risks described in the company's Annual Report on Form 10-K for the year ended December 28, 2008, its Quarterly Report on Form 10-Q for the quarter ended September 27, 2009, and other filings with the Securities and Exchange Commission.. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
Source: SunPower Corp.
CONTACT: Ingrid Ekstrom of SunPower Corporation, +1-510-260-8368,
iekstrom@sunpowercorp.com
MCLEAN, Va., March 1 -- Standards for Technology in Automotive Retail (STAR), a global information technology standards body for retail automotive and related industries, released its Dealership Infrastructure Guidelines (DIG) 2010.
The vision of manufactures has been to utilize the Internet for all data communications with their dealers. For this vision to be realized, it is critical that the dealer's network infrastructure be web-enabled. Given that dealers are in the business of selling vehicles and not setting up network infrastructures, STAR has developed the DIG to assist them in this task.
The DIG is a set of comprehensive guidelines, recommendations and checklists for dealers and their information technology (IT) staff to reference when they are working with vendors to set up and maintain their network infrastructure and other day-to-day IT-related business operations such as safe guarding customer information and business continuity.
With the release of the DIG 2010, STAR continues its commitment to keeping dealers current with leading technology and standards by reviewing and updating content to reflect the most current industry standards and recommendations. Updates included information regarding network design
frameworks, network services, private and virtual networks and wireless networks.
About STAR
The Standards for Technology in Automotive Retail (STAR) organization is the information technology (IT) standards organization for retail automotive and related industries. STAR is leading the effort to implement voluntary IT standards throughout the automotive industry. These standards are designed to support business information needs and provide secure and reliable means for dealers, manufacturers, and retail system providers to communicate. Headquartered in McLean, Virginia, STAR is a not-for-profit volunteer organization and its members include dealers, manufacturers and retail system providers. As members, these companies are interested in developing, promoting, and administering voluntary IT standards in the retail automotive industry and improving the effectiveness, timeliness and competitiveness of the IT solutions needed within the retail automotive industry.
Libraries Can Relieve Budget Pressures Through Assessment of External Document Delivery Supply, Reports New White Paper by Derycz Scientific Subsidiary
SANTA MONICA, Calif., March 1 -- Relieving the budget pressures of libraries and information centers is a task that can be performed throughout the year rather than only during annual budget reviews, and is most easily initiated by evaluating external document delivery services and configurations, according to a new white paper by Derycz Scientific, Inc., (BULLETIN BOARD: DYSC) , subsidiary Reprints Desk, Inc. Reprints Desk today announced the online availability of the white paper, titled "Relieving Information Center Budget Pressures Through Document Delivery Cost Reduction & Workflow Re-Configuration: A Guide to Enterprise Self-Assessment" at http://goo.gl/VlOa.
"The most important message in this white paper for information professionals is to take your destiny - both library and career - into your own hands by being proactive in areas in which you can exert control and wield your expertise for the benefit of your organization," said Robin Holmes, who was commissioned by Reprints Desk to research and write the white paper. She compiled it using industry briefings from Outsell, Inc. and other trade-focused publications, interviews with library managers and information professionals, and by sharing her own experience from her previous employment at Johnson & Johnson (J&J), ALZA Corporation and Jazz Pharmaceuticals.
Document delivery services are commonly used by corporations, academic institutions and government organizations in order to retrieve full-text articles from scholarly peer-reviewed journals - often for research purposes. Document delivery is considered to be a top deliverable and "an integral part of content delivery that is crucial to satisfying a client need" for librarians and information professionals, according to a 2008 information industry briefing entitled "Document Delivery - Best Practices and Vendor Scorecard," produced by information industry analyst and advisory firm Outsell, Inc.
For more information about document delivery and Reprints Desk's STM Document Delivery service, visit Reprints Desk online at http://www.reprintsdesk.com.
About Derycz Scientific®
Derycz Scientific, Inc. (the "Company") develops companies, products, services and systems that facilitate the re-use of published content in a manner that helps organizations achieve their marketing, communication and research goals effectively and in compliance with copyright law and regulatory rules. Its subsidiary companies include Reprints Desk and Pools Press. Reprints Desk offers a one-stop solution for reprints, ePrints and single articles, and has delivered millions of articles worldwide. Reprints Desk is an innovator in content retrieval and ePrint delivery and its services are designed to help make effective use of published articles in a copyright-compliant manner. Pools Press has excelled in the reprint market for over 30 years. It provides professionally printed articles from medical and technical journals; prints booklets, catalogs, pamphlets, direct mail pieces, newsletters, and all business stationery; and works with publishers who wish to outsource a portion of or all of their reprints business. For more information, go to http://www.deryczscientific.com.
About Reprints Desk®
Reprints Desk, Inc. (http://www.reprintsdesk.com) is a business software and information services company that simplifies how research-intensive companies and other organizations procure, manage and share journal articles and other copyright-protected content. The company's content workflow and compliance solutions help customers effectively use peer-reviewed literature in research, regulatory submissions, and product promotions. A channel supplier for more than 100 scientific, technical, and medical (STM) publishers, Reprints Desk earned the #1 ranking in the 2008 Document Delivery Vendor Scorecard by Outsell, Inc., and currently serves companies in life sciences, energy, aerospace, industrial products, food and beverages, consumer packaged goods, information technology, legal, and government. Reprints Desk is a Derycz Scientific company. For more information about Reprints Desk, contact Ian Palmer at +1 (707) 658-1931.
Source: Derycz Scientific, Inc.
CONTACT: Ian Palmer, Head of Marketing of Reprints Desk, Inc.,
+1-707-658-1931, ipalmer@reprintsdesk.com; or Investor Relations, Tom Caden or
Erika Moran, +1-212-825-3210, or Media Relations, Robin O'Malley,
+1-212-825-3210, all of The Investor Relations Group, for Derycz Scientific,
Inc.
AMICAS Board of Directors Determines Updated Proposal From Merge Healthcare Is a Superior Proposal
AMICAS Board Offers to Negotiate With Thoma Bravo
BOSTON, March 1 -- AMICAS, Inc. (NASDAQ:AMCS), a leader in image and information management solutions ("AMICAS"), today announced that its Board of Directors, in consultation with its independent financial and legal advisors, has concluded that the updated proposal submitted by Merge Healthcare Incorporated (NASDAQ:MRGE) ("Merge") to acquire all of the outstanding shares of AMICAS for $6.05 per share in cash (the "Merge Proposal") constitutes a Superior Proposal under the terms of the Company's Agreement and Plan of Merger with Thoma Bravo, LLC (the "Thoma Bravo Merger Agreement").
As previously announced, on December 24, 2009, AMICAS entered into a definitive Agreement and Plan of Merger with Thoma Bravo, LLC, under which an affiliate of Thoma Bravo would acquire all of the outstanding shares of AMICAS for $5.35 per share in cash. In accordance with the terms of the Thoma Bravo Merger Agreement, AMICAS will offer to negotiate in good faith with Thoma Bravo during the five business day period ending March 8, 2010, to make such adjustments in the terms and conditions of the Thoma Bravo Merger Agreement such that the Merge Proposal would cease to constitute a Superior Proposal. The AMICAS Board of Directors has authorized the Company to terminate the Thoma Bravo Merger Agreement in order to enter into an agreement to effectuate the Merge Proposal if, following negotiations with Thoma Bravo, the Merge Proposal continues to be a Superior Proposal.
There can be no assurance that a transaction with Merge will result, and the AMICAS Board is not withholding, withdrawing, amending, qualifying or modifying its recommendation with respect to the Thoma Bravo Merger, and is not making any recommendation at this time with respect to the Merge Proposal. The AMICAS Board is not adopting, approving or recommending the Merge Proposal, or proposing that the Merge Proposal be adopted, approved or recommended.
In light of today's announcement, AMICAS Board of Directors has resolved that the Special Meeting of AMICAS Stockholders will be further adjourned. This Special Meeting had been previously scheduled to reconvene on Thursday, March 4, 2010 at 9:00 a.m., local time. The Special Meeting will now be reconvened on March 4, 2010 and adjourned to Tuesday, March 16, 2010 at 9:00 a.m., local time, at the Company's offices at 20 Guest Street, Boston, MA 02135. The record date for stockholders entitled to vote at the Special Meeting remains January 15, 2010. Any AMICAS stockholders who have questions or require assistance voting their shares should contact the Company's proxy solicitor, Innisfree M&A Incorporated, toll-free at (888) 750-5834.
Raymond James & Associates, Inc. is serving as financial advisor to AMICAS and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. is serving as legal counsel.
About AMICAS, Inc.
AMICAS, Inc. (http://www.amicas.com) is a leading independent provider of imaging IT solutions. AMICAS offers the industry's most comprehensive suite of image and information management solutions - from radiology PACS to cardiology PACS, from radiology information systems to cardiovascular information systems, from revenue cycle management solutions to enterprise content management tools designed to power the imaging component of the electronic medical record (EMR). AMICAS provides a complete, end-to-end solution for radiology practices, imaging centers, and ambulatory care facilities. Hospitals and integrated delivery networks are provided with a comprehensive image management solution for cardiology and radiology that supports EMR strategies to enhance clinical, operational, and administrative functions.
Information regarding the solicitation of proxies
In connection with the proposed transaction, AMICAS has filed a proxy statement and proxy supplement and relevant documents concerning the proposed transaction with the SEC. Stockholders of AMICAS are urged to read the proxy statement and proxy supplement and other relevant materials because they contain important information about AMICAS and the proposed transaction. Stockholders may obtain a free copy of the proxy statement and proxy supplement and any other relevant documents filed by AMICAS with the SEC at the SEC's Web site at http://www.sec.gov. In addition, stockholders may obtain free copies of the documents filed with the SEC by AMICAS by contacting AMICAS Investor Relations by e-mail at colleen.mccormick@amicas.com or by phone at 617-779-7892.
AMICAS and its directors and certain executive officers may be deemed to be participants in the solicitation of proxies from AMICAS stockholders in respect of the proposed transaction. Information about the directors and executive officers of AMICAS and their respective interests in AMICAS by security holdings or otherwise is set forth in its proxy statements and Annual Reports on Form 10-K, previously filed with the SEC. Investors may obtain additional information regarding the interest of the participants by reading the proxy statement and proxy supplement regarding the acquisition. Each of these documents is available free-of-charge at the SEC's Web site at http://www.sec.gov and at the AMICAS Investor Relations Web site at http://www.amicas.com/investorrelations.
This press release contains forward-looking statements within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, without limitation, statements regarding the expected benefits of the proposed transaction, future performance, and the completion of the transaction. These statements are based on the current expectations of management of AMICAS, involve certain risks, uncertainties, and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this press release, many of which are beyond AMICAS' ability to control or predict. For example, among other things, the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the outcome of any legal proceedings that have been or may be instituted against AMICAS and others relating to the transaction; the inability to complete the transaction due to the failure to obtain stockholder approval or the failure to satisfy other conditions to consummation of the transaction; the failure of the transaction to close for any other reason; the amount of the costs, fees, expenses and charges related to the transaction and the actual terms of certain financings that will be obtained for the transaction; and other risks detailed in AMICAS' current filings with the SEC, including its most recent filings on Forms 10-Q and 10-K, which are available at http://www.sec.gov. All forward-looking statements in this press release are qualified by these cautionary statements and are made only as of the date of this release. AMICAS is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACTS:
Media Investors
Matthew Sherman / Andrew Siegel Kevin Burns, CFO
Joele Frank, Wilkinson Brimmer Katcher AMICAS, Inc.
212-355-4449 617-779-7855
Scott Winter
Innisfree M&A Incorporated
212-750-5833
Source: AMICAS, Inc.
CONTACT: Media, Matthew Sherman or Andrew Siegel, Joele Frank, Wilkinson
Brimmer Katcher, +1-212-355-4449, or Kevin Burns, CFO, AMICAS, Inc.,
+1-617-779-7855, Scott Winter, Innisfree M&A Incorporated, +1-212-750-5833
Catholic Health Initiatives Selects Six of Elsevier's Online Solutions To Enhance Quality Clinical Decision-Making
PHILADELPHIA, Pennsylvania, March 1, 2010--
- Mosby's Nursing Suite and Clinical Pharmacology are now the Primary
Decision-support Resources at CHI's 75 Hospitals Across 19 States
Elsevier (http://www.elsevier.com), a world leader in health
care and medical publishing and online solutions, today announced that
Denver-based Catholic Health Initiatives (http://www.catholichealthinit.org/
) (CHI), the second-largest faith-based health care system in the nation,
will install six of Elsevier's online clinical decision-support and training
solutions to meet the diverse and evolving needs of physicians, nurses and
other providers at its 75 hospitals in 19 states.
CHI nurses will benefit from online resources within Mosby's
Nursing Suite, including Mosby's Nursing Consult ( http://www.nursingconsult.com/php/186312749-2/home.html), which helps nurses
find answers to pressing clinical questions; Mosby's Nursing CE
(http://www.nursingconsult.com/php/186312749-4/home.html), which offers a
variety of continuing education modules; Mosby's Index ( http://www.mosbysindex.com/), which provides nursing and allied health
journal abstracts and an indexing database; Mosby's Nursing Skills
(http://confidenceconnected.com/mosby-skills.htm), which refreshes nurses'
knowledge of procedures and teaches new skills; and Mosby's Nursing Skills
Pediatric Collection, which delivers guidance on more than 300 pediatric
nursing skills. Clinical Pharmacology ( http://www.clinicalpharmacology.com/?epm=2_1), a Gold Standard/Elsevier
product, will deliver expert drug information to CHI physicians, pharmacists,
nurses and allied health professionals in acute care settings across the
system.
"CHI's pursuit of an integrated clinical strategy, which
involves the rapid adoption of evidence-based practices and implementation,
blends perfectly with Elsevier's ability to deliver quality content for
real-time decision-making and skills-based training," said Kathy Sanford,
CHI's Senior Vice President and Chief Nursing Officer.
Stephen Moore, M.D., CHI's Senior Vice President and Chief
Medical Officer, added: "Clinical Pharmacology, which provides accurate,
clinically-relevant drug data, ensures that physicians, pharmacists and other
providers have real-time information at the point of care for decision-making
and multidiscipline communications to enhance patient care quality, safety,
efficiency and cost management. Elsevier's Clinical Decision Support and
training solutions support CHI's goals for patient care safety and quality
while increasing provider and clinician satisfaction.
"Elsevier's experience and expertise in deploying its
solutions across large organizations while remaining sensitive to the
information needs and practice priorities of nurses and other clinical
professionals creates additional value for large organizations like CHI,"
said Chris Dillon, Managing Director for Clinical Decision Support at
Elsevier Health Sciences. "When health care facilities offer all clinicians
the opportunity to access the same high levels of evidence-based content,
clinicians are better positioned to meet quality, safety and efficiency
targets, enhance the patient experience and adhere to core organizational
values."
About Elsevier
Elsevier is a world-leading publisher of scientific, technical
and medical information products and services. The company works in
partnership with the global science and health communities to publish more
than 2,000 journals, including The Lancet (http://www.thelancet.com) and Cell
(http://www.cell.com), and close to 20,000 book titles, including major
reference works from Mosby and Saunders. Elsevier's online solutions include
ScienceDirect (http://www.sciencedirect.com), Scopus (http://www.scopus.com),
Reaxys (http://www.reaxys.com), MD Consult (http://www.mdconsult.com) and
Nursing Consult (http://www.nursingconsult.com), which enhance the
productivity of science and health professionals, and the SciVal suite
(http://www.scival.com) and MEDai's Pinpoint Review (http://www.medai.com),
which help research and health care institutions deliver better outcomes more
cost-effectively.
A global business headquartered in Amsterdam, Elsevier
(http://www.elsevier.com) employs 7,000 people worldwide. The company is part
of Reed Elsevier Group PLC (http://www.reedelsevier.com), a world-leading
publisher and information provider, which is jointly owned by Reed Elsevier
PLC and Reed Elsevier NV. The ticker symbols are REN (Euronext Amsterdam),
REL (London Stock Exchange), RUK and ENL (New York Stock Exchange).
About Catholic Health Initiatives
CHI is a national nonprofit health system with headquarters in
Denver. The faith-based system operates in 19 states and includes 75
hospitals; 40 long-term care, assisted-living and residential-living
facilities; and two community health-services organizations. Together, those
facilities provided $553 million during the 2009 fiscal year in charity care
and community benefit, including services for the poor, free clinics,
education and research. With annual revenues of $8.6 billion, CHI ranks as
the nation's second-largest Catholic health care system. For more
information, visit http://www.CatholicHealthInitiatives.org.
CHI Media Contact:
Mike Romano
Director, Media Relations
Catholic Health Initiatives
+1-303-383-2720
michaelromano@catholichealth.net
Elsevier Media Contact:
Christopher Capot
KNB Communications
+1-203-379-8019
ccapot@knbpr.com
Source: Elsevier
CHI Media Contact: Mike Romano, Director, Media Relations, Catholic Health Initiatives, +1-303-383-2720, michaelromano@catholichealth.net; Elsevier Media Contact: Christopher Capot, KNB Communications, +1-203-379-8019, ccapot@knbpr.com
GettingHired, LLC and Disability RMS Announce the Signing of FastTrackRTW Beta Agreement
The FastTrackRTW program will be used by short- and long-term disability and workers compensation carriers to better manage return-to-work programs, helping newly disabled individuals find employment and return to productive lives
BEDMINSTER, N.J., March 1 -- GettingHired, LLC and Disability RMS today announced the signing of an agreement to beta-test the new FastTrackRTW product line developed by GettingHired, LLC. Disability RMS is the nation's leading provider of turnkey disability risk management products and services.
The FastTrackRTW product will aid insurance companies in the short-term disability, long-term disability and workers compensation sectors to better manage return-to-work programs. The product is uniquely designed with a robust set of career services tools for claimants and injured workers as well as a tracking module for caseworkers to monitor and encourage career tool utilization by claimants and injured workers.
GettingHired, LLC chief executive officer Thomas Capato stated, "Every insurer in the short/long-term disability and workers compensation sectors has the goal of accelerating return-to-work timeframes for its employer customers' claimants and injured workers, reducing reserve levels, improving revenues, increasing brand awareness and improving claimant/injured worker satisfaction. FastTrackRTW provides a unique technology and services solution to meet these objectives. Disability RMS enjoys a sterling reputation within the industry and is widely recognized for its depth of knowledge in the long-term disability arena, breadth of product offerings and exceptional customer service. This agreement to beta-test FastTrackRTW with Disability RMS will provide an opportunity to further refine the product - and we have every expectation that we will not only meet but exceed both our own and our clients' goals."
Kathleen Serunian, vice president of claims for Disability RMS, stated, "Continuous process improvement is a critical part of our business at Disability RMS. We are always seeking new solutions to optimize our service offerings. FastTrackRTW will allow us to more proactively help our claimants in return-to-work activities while simultaneously achieving better insight and analysis for our claims and caseworker staffs as well as our carrier clients."
Gregory J. Dulac, vice president of business development for Disability RMS, stated, "We believe the FastTrackRTW tool will set the next benchmark of return-to-work services within the industry, and will provide current and future Disability RMS clients with a real competitive advantage."
About GettingHired, LLC
GettingHired, LLC is a software and services organization focused on creating employment opportunities for people with disabilities and helping employers find talented employees. In addition to the FastTrackRTW product, the company is well-known for its national employment and social networking portal GettingHired.com - Careers and Community for People with Disabilities. GettingHired.com uniquely connects talented job-seekers who happen to have disabilities with employers, advocacy organizations, veterans groups, colleges and service providers.
About Disability RMS
Disability RMS is the nation's leading provider of turnkey disability risk management products and services with more than $475 million of disability premium under management. In 2009, the company added Group Life reinsurance to its services offering. Located in Westbrook, Maine, Disability RMS has more than 300 employees with the specialized product knowledge and service skills required to succeed in today's complex risk protection market. Disability RMS holds the distinction of twice being named the Best Large Company to Work for in Maine, an accolade awarded by the Best Companies Group, in partnership with the Maine Department of Labor.
For more information, please contact:
James Lunny
GettingHired, LLC
1545 US Highway 206
Bedminster, NJ 07921
James.Lunny@fasttrackrtw.com
207-591-3615 http://www.fasttrackrtw.com/
Trish O'Donnell
Disability RMS
One Riverfront Plaza
Westbrook, ME 04092
todonnell@disabilityrms.comhttp://www.disabilityrms.com/
CONTACT: James Lunny of GettingHired, LLC, +1-207-591-3615,
James.Lunny@fasttrackrtw.com; or Trish O'Donnell of Disability RMS,
todonnell@disabilityrms.com
Axis Telecom Launches Call Recording for Businesses
KINGSTON UPON HULL, England, March 1, 2010-- A leading Hull-based telecoms firm is offering businesses a cheap and
effective way to monitor their customer service standards with the launch of
a revolutionary call recording service.
Axis Telecom, which has a national client base of both business and
residential customers, is launching Safeline to help small and medium-sized
business which cannot afford to invest in expensive call-recording hardware,
or the ongoing costs of maintaining such a system.
The service works through an external server linked directly to the
businesses' telephone system. This automatically records all in- and outbound
calls and stores the files on a secure central server.
Businesses can then access this archive through a unique username and
password. All calls are catalogued with unique tags, allowing for instant
retrieval.
David Meyers, Managing Director of Axis Telecom, said:
"This new service offers a number of benefits to businesses. It requires
no initial capital outlay for set-up and, because all hardware is held
offsite, all maintenance and upgrade costs are covered on an ongoing basis.
The Safeline system works especially well for companies with multiple sites
or home-workers, as everything is set up and run remotely.
"There are clear advantages for businesses in having call recording in
place. Not only does it help to improve customer service through effective
training and auditing, but it also provides legal protection for when firms
are communicating with both customers and suppliers. Much like email has
helped businesses keep track of written communications, with Safeline all
verbal contact between parties can be logged, catalogued and archived so
businesses always have something to refer back to if needed."
Axis Telecom employs approximately 100 people at its offices in Hull. The
company has a national customer base, made up of both businesses and
residents. Axis offers a range of services, from fixed telephone lines and
broadband, to specialist business services, such as VOIP, call recording and
auto answering, queuing and messaging.
New Firethorn Mobile Banking Experience Lets U.S. Consumers Access Accounts from More than 3,700 Financial Institutions Using a Single Application
-- Mobilebanking.com Website Enables More Consumers to Benefit from On-the-go Financial Services --
ATLANTA, March 1 -- Firethorn Holdings, LLC, a Qualcomm company (NASDAQ:QCOM), has expanded its mobile banking solution to allow consumers to now manage their checking, savings and credit card accounts with more than 3,700 U.S. financial institutions using a single mobile application. Consumers can now go to http://www.mobilebanking.com to download the updated Mobile Banking application directly to their mobile devices and enroll their accounts with these newly added financial institutions. The application is available on a variety of smartphones and feature handsets offered by wireless operators working with Firethorn.
"Until recently, users of Firethorn's Mobile Banking solution could only access their accounts if their financial institution was an integrated Firethorn provider," said Ben Ackerman, vice president of product strategy at Firethorn. "Our goal is to deliver a comprehensive, relevant and secure mobile banking experience to all consumers, which is why we are delivering this new solution."
One of the Mobile Banking application's newest features gives users the ability to securely access their enrolled financial accounts from more than 3,700 financial institutions using a single login PIN number on their mobile device, in addition to the secure access they previously had to financial institutions working with Firethorn. Once logged in, consumers can check their financial account balances, see their latest transactions, and track if payments have cleared. Financial institutions providing integrated Firethorn services may offer additional transactional capabilities, such as bill pay and funds transfer, as well as the ability to receive and view rewards and offers. A full list of providers is available at http://www.mobilebanking.com/providers.
"Firethorn conducted extensive research to better understand consumers' lifestyles, needs and behaviors," continued Ackerman. "In response, we have expanded our Mobile Banking offering so that consumers can access critical account information at more banking institutions, enabling them to make well informed financial and purchase decisions while on the go."
Firethorn Holdings, LLC, is providing an important link in the mobile commerce ecosystem. With its expertise in the mobile domain, Firethorn is creating an exciting mobile revenue channel that will bridge relationships among consumers, retailers, wireless operators and financial institutions. Firethorn's innovative technology creates easily accessible, branded and personalized mobile commerce channels that give consumers access to their accounts, offers and transactions while on the go. For more information about Firethorn, visit http://www.firethornmobile.com.
Firethorn is a registered trademark of Firethorn Holdings, LLC. Qualcomm is a registered trademark of Qualcomm Incorporated.
International Game Technology to Participate in the Deutsche Bank Conference
RENO, Nev., March 1 -- International Game Technology (NYSE:IGT) will participate in the Deutsche Bank Hospitality and Gaming Conference on March 3, 2010 in New York City.
International Game Technology (http://www.IGT.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.
Source: International Game Technology
CONTACT: Patrick W. Cavanaugh, Executive Vice President, Chief Financial
Officer and Treasurer of IGT, 1-866-296-4232
Notus Digital Network Corp Acquired by ConnectedMedia Technologies, Inc.
MIAMI, March 1 -- ConnectedMedia Technologies, Inc. (OTCPK: XCHC), a Miami-based digital multimedia firm targeting the US Hispanic market, and a wholly-owned subsidiary of X-Change Corporation, announced today it has acquired 52% of Notus Digital Network Corp, an Internet technology company dedicated to video-on-demand solutions for online and mobile devices. The company has developed the NotusWOW platform which integrates providers of Spanish content together with advertisers and is able to track online video advertising campaigns on web and mobile devices with its proprietary technology.
Notus.tv, a portal soon to be offered by Notus Digital Network Corp, will provide users the opportunity to watch recent and archived Spanish TV programming, free of charge, on the Internet and mobile PDA devices.
Nydia Del Valle, President and CEO of ConnectedMedia Technologies, Inc., stated, "When we saw the Notus Mobile platform, we knew we had a winner! Once again, we are very proud that we are able to attract the best of the best in management and technology professionals. The launch of Notus.tv will spark our competitive edge in multimedia digital technology allowing us to consolidate our leading position for video content delivery on mobile devices worldwide."
Juan M. Chacin, President and CEO of Notus Digital Network, stated, "The US Hispanic population is growing at a rapid rate and we are confident that this partnership will significantly enhance our market position and allow us to rapidly bridge the tremendous gap between content creation and a superior outlet to release content within the US Hispanic market."
About ConnectedMedia Technologies, Inc.
ConnectedMedia Technologies services clients at the local, regional, national and international level who want to target US Hispanics through the company's custom digital marketing and media campaigns, content creation and syndication, production, programming and streaming for distribution through the Internet, mobile, radio, television and print media platforms. The company seeks and invests in emerging and established Hispanic media and technology companies.
About Notus Digital Network Corp.
Notus Digital Network Corp is an Internet technology company dedicated to video-on-demand solutions for online and mobile devices. The company has developed the NotusWOW platform which integrates providers of Spanish content together with advertisers and is able to track online video advertising campaigns on web and mobile devices with its proprietary technology. Notus.tv allows users to share videos, pictures and mp3/audio content via web/wap technology on the Internet and mobile PDA devices.
Forward-Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. ConnectedMedia Technologies, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
CONTACT INFORMATION
Mr. Fernando Gomez, Executive VP
ConnectedMedia Technologies, Inc.
Tel: 310.601.3165
E-mail info@ConnectedMediaTech.com
Web: http://www.ConnectedMediaTech.com
Mr. Juan M. Chacin, President & CEO
Notus Digital Networks Corp.
Tel: 786-317-2412
Email: Juan@notus.tv
Web: http://www.notus.tv
Source: ConnectedMedia Technologies, Inc.
CONTACT: Mr. Fernando Gomez, Executive VP, ConnectedMedia Technologies,
Inc., +1-310-601-3165, info@ConnectedMediaTech.com; Mr. Juan M. Chacin,
President & CEO, Notus Digital Networks Corp., +1-786-317-2412, Juan@notus.tv
Concur to Present at the Jefferies 4th Annual Technology Conference
REDMOND, Wash., March 1 -- Concur (NASDAQ:CNQR), the world's leading provider of on-demand Employee Spend Management services, today announced that executive vice president, corporate development John Torrey will deliver a presentation on behalf of the company at the Jefferies 4th Annual Technology Conference, on Monday, March 8 at 11:45 a.m. ET at the Mandarin Oriental in New York, NY. The live webcast and replay of the presentation will be available for a limited time at http://www.concur.com/investors.
About Concur
Concur is the world's leading provider of on-demand Employee Spend Management services. Trusted by thousands of organizations to reach millions of employees, Concur's award-winning solutions streamline business travel and expense reporting, and improve invoice processing - delivering rapid ROI by helping companies increase efficiency, control employee spend and drive down operational costs. Learn more at http://www.concur.com.
Source: Concur
CONTACT: Press, Stefanie Johansen of Weber Shandwick, +1-425-452-5468,
SJohansen@WeberShandwick.com, for Concur; or Investors, John Torrey of Concur,
+1-425-497-5986, john.torrey@concur.com
Waypoint Outcomes Appoints New Director of Product Experience
PHILADELPHIA, March 1 -- Waypoint Outcomes, a provider of customized Web-based academic assessments and analysis technologies, has appointed Michael Jones to director of product experience.
Jones' experience in software development and consultation spans more than 25 years. His responsibilities on behalf of Waypoint Outcomes include enhancing the educational assessment tool and defining assessment standards and practices industrywide.
"I am honored to lead Waypoint's strategies and to be a part of the academic assessment industry in its infancy," Jones said. "Waypoint leads the way in defining institutional standards and providing measurement tools to benefit universities and ensure student success."
Jones previously held a position as a software development manager for Bridgepoint Education, Inc., a provider of postsecondary education services. Prior to that, he created and sold several software and business intelligence consulting companies.
"Michael's deep experience building user-focused software will help fulfill Waypoint's mission of uniting teaching and assessment," Andrew McCann, chief executive officer of Waypoint Outcomes, said.
More than 35 institutions, including schools in the United States, Canada and Europe, use Waypoint Outcomes. The Web-based technology is used to create exceptional feedback for tens of thousands of students; to manage course evaluations; and to generate rich data on learning outcomes.
About Waypoint Outcomes
Waypoint Outcomes offers customizable software evaluation processes to manage academic achievements in the classroom. By providing a platform that improves student/teacher interaction, specifically in online classrooms, the program allows schools and universities to strengthen its commitment to students' academic success. For more information about Waypoint Outcomes, visit http://www.waypointoutcomes.com/.
Concur to Present at the UBS Software Mini Conference
REDMOND, Wash., March 1 -- Concur (NASDAQ:CNQR), the world's leading provider of on-demand Employee Spend Management services, today announced that executive vice president, corporate development John Torrey will meet with investors on behalf of the company at the UBS Software Mini Conference, on Thursday, March 4 at the UBS offices in San Francisco, CA.
About Concur
Concur is the world's leading provider of on-demand Employee Spend Management services. Trusted by thousands of organizations to reach millions of employees, Concur's award-winning solutions streamline business travel and expense reporting, and improve invoice processing - delivering rapid ROI by helping companies increase efficiency, control employee spend and drive down operational costs. Learn more at http://www.concur.com.
Source: Concur
CONTACT: Press, Stefanie Johansen of Weber Shandwick, +1-425-452-5468,
SJohansen@WeberShandwick.com, for Concur; or Investors, John Torrey of Concur,
+1-425-497-5986, john.torrey@concur.com
Scientific Games Announces Fourth Quarter and Full Year Results
NEW YORK, March 1 -- Scientific Games Corporation (NASDAQ:SGMS) today announced results for the fourth quarter and full year ended December 31, 2009.
Revenue totaled $232.9 million for the fourth quarter and $927.7 million for the full year. The Company reported a net loss of $50.1 million in the fourth quarter, after giving effect to after-tax charges totaling $45.2 million, primarily related to the non-cash write-down of assets associated with the Company's proposed sale of its Racing and Venue Management businesses, the non-cash impairment of certain Lottery Systems contracts and transaction- and restructuring-related expenses. For the full year, the Company reported a net loss of $39.9 million, after giving effect to after-tax charges totaling $63.3 million. The Company achieved strong free cash flow(1) of $108.5 million for the full year and 10% year-over-year growth in adjusted EBITDA(2) for the quarter.
Full-Year Highlights
-- Excluding a number of large contract re-pricings and unfavorable
foreign currency translation, achieved solid adjusted EBITDA in a very
difficult environment
-- Successfully implemented software upgrades to nine Lottery Systems
customers in the U.S. for the cross-selling of Powerball® and Mega
Millions, marking the first such cross-selling effort in a series of
initiatives aimed at accelerating systems sales
-- Dramatically increased printing capacity in China, including the
installation of a second printing press, facilitating China Sports
Lottery instant ticket retail sales in excess of 15 billion RMB, and
expanded the retail customer base to over 150,000; China Sports
Lottery achieved fourth quarter retail sales growth of 32% over the
prior-year period
-- Negotiated a number of important strategic transactions to strengthen
the Company's portfolio and facilitate growth in new areas--most
notably government-sponsored internet gaming via the Company's new
joint venture, Sciplay, and the proposed combination of the Company's
Racing and Venue Management businesses with Sportech PLC, a U.K.-based
sports wagering company
-- Awarded key lottery contracts in Massachusetts, Arkansas and Indiana,
including the launch of Properties Plus(TM) in Arkansas, and expanded
the Company's offering in Puerto Rico to include a cooperative
services program and instant ticket printing
-- Expanded the Company's presence in Germany with two additional
cooperative services contracts
-- Increased Global Draw's installed terminal base by approximately 13%
to 17,284 and positioned the business for continued attractive growth
in 2010 and beyond; recently renewed key contracts with Gala Coral and
Totesport
-- Expanded Games Media's installed terminal base by over 60% to 2,351
and was recently awarded an additional 350 locations with U.K. pub
operator Marston's
-- Generated free cash flow of $108 million, exceeding target of $100
million
-- Reduced capital expenditures to $112 million from $230 million in 2008
-- Achieved $24 million in savings from the Company's Profitability
Improvement Program, exceeding target of $15 to $20 million
-- Completed a number of financing-related transactions that provided the
Company with additional operating and financing flexibility and
extended the weighted average maturity of the Company's debt
Commenting on the results, President and Chief Executive Officer Michael R. Chambrello stated, "This past year proved to be a challenging one. However, our performance was impacted by a confluence of factors that masked the underlying resiliency of our core lottery and gaming businesses, as we effectively navigated through the severe global economic slowdown in 2009. We achieved impressive free cash flow and substantial cost savings during the year, and we made significant progress to strengthen our liquidity profile. We also pursued a number of important strategic initiatives that focus our portfolio and, more importantly, provide us with state-of-the-art technology that is expected to enable us to capitalize on the trend toward convergence that we see in the gaming industry."
"Looking ahead, we are beginning to see some signs of improving retail sales trends in our core businesses, although we remain cautious in light of the difficult economic environment," Mr. Chambrello added. "Importantly, with the effect of the recent large contract re-pricings now essentially behind us, along with evidence of strengthening retail sales in key instant ticket jurisdictions, new sales-driven initiatives in our Lottery Systems business and improving cash box results in our core Global Draw business, we enter the new year with confidence in our strong foundation upon which we plan to pursue our longer-term strategic growth initiatives in 2010 and beyond," Mr. Chambrello continued.
Summary Financial Results
Fourth Quarter Full Year
--------------- --------------
2008 2009 2008 2009
---- ---- ---- ----
($ in millions, except per share amounts)
Net Loss ($69.1) ($50.1) ($4.5) ($39.9)
Net Loss per Share ($0.75) ($0.54) ($0.05) ($0.43)
Total Capital Expenditures $66.0 $31.5 $229.9 $111.6
Free Cash Flow $1.1 $12.5 ($21.4) $108.5
Free cash flow and adjusted EBITDA are non-GAAP financial measures defined under the section entitled "Non-GAAP Disclosure" in this press release and reconciled to GAAP financial measures in the accompanying tables.
Fourth Quarter Financial Results
In order to provide investors with additional visibility into its revenue streams, the Company has segregated revenues related to its instant ticket business from other service revenues. Accordingly, revenue is reported herein (and will be reported going forward) in the following categories: instant ticket revenue; service revenue; and sales revenue.
Revenue totaled $232.9 million in the fourth quarter of 2009, compared to revenue of $263.9 million in the fourth quarter of 2008. The decline in revenue was primarily the result of lower instant ticket revenue ($14.6 million) due to the shift in China instant ticket production to our joint venture, and lower service revenue ($8.8 million) stemming from Lottery Systems Group contract re-pricings. In addition, fourth quarter 2009 revenue was negatively impacted by lower sales revenue ($7.7 million) driven by lower phone card sales and planned changes to the Company's business model in U.K. pubs related to the shift from analog to digital terminals. The quarter benefitted from an increase in revenue related to the start up of two instant ticket lotteries, higher sales from licensed properties and increased systems revenue in China.
The Company reported an operating loss of $69.5 million for the fourth quarter of 2009, compared to an operating loss of $82.2 million in the same period in 2008. The operating loss in the fourth quarter of 2009 included non-cash, pre-tax charges related to the proposed sale of the Racing and Venue Management businesses ($50.4 million), non-cash impairment of Lottery Systems contracts in Connecticut and Maryland ($24.7 million), transaction-related expenses ($9.7 million) and restructuring-related expenses ($5.0 million). The operating loss in the fourth quarter of 2008 included non-cash impairment charges ($76.2 million), primarily related to Lottery Systems contacts in Mexico and Oklahoma, and restructuring-related expenses ($18.8 million), including employee termination costs ($10.9 million).
Adjusted EBITDA increased to $77.1 million, or 33.1% of revenue, in the fourth quarter of 2009, compared to adjusted EBITDA of $69.8 million, or 26.4% of revenue, in the fourth quarter of 2008. This performance primarily reflected lower selling, general and administrative expenses ($6.1 million), increased earnings from joint ventures ($4.5 million), particularly in China and Italy, higher Lottery Systems Group income from China ($4.0 million) and increased profitability on software and hardware sales, partially offset by the impact of the decline in revenue in the quarter.
Net loss in the fourth quarter of 2009 was $50.1 million, or $0.54 per share, compared to a net loss of $69.1 million, or $0.75 per share, in the prior-year period. This performance primarily reflected the reduced operating loss for the period, higher equity earnings from joint ventures and the benefit in the 2009 quarter of a higher effective tax rate, partially offset by a loss on a foreign currency hedge and higher net interest expense.
Printed Products Group
Printed Products Group revenue was $116.2 million in the fourth quarter of 2009, compared to $134.5 million in the fourth quarter of 2008, and primarily reflected the shift in China instant lottery ticket production to our joint venture ($14.6 million) and lower sales revenue related to the phone card business ($3.7 million), partially offset by higher sales from licensed properties and the start-up of instant ticket lottery sales in Arkansas and Puerto Rico ($4.8 million).
Operating income for the Printed Products Group improved to $26.1 million, or 22.4% of revenue, in the fourth quarter of 2009, compared to operating income of $15.7 million, or 11.7% of revenue, in the fourth quarter of 2008. The improved performance primarily reflected lower depreciation and amortization expense ($5.5 million), the absence of employee termination costs ($4.4 million) that impacted the fourth quarter of 2008, and lower selling, general and administrative expenses ($3.4 million), including professional fees in 2009 related to the tender for the Italian instant ticket concession ($2.0 million). In addition, the improvement in operating income as a percentage of revenue in the fourth quarter of 2009 was due to the impact of the shift in China instant lottery ticket production to our joint venture, which resulted in reducing sales and cost of sales by approximately equal amounts due to the high level of freight and import duties associated with shipping tickets to China in 2008.
Lottery Systems Group
Lottery Systems Group revenue totaled $66.9 million in the fourth quarter of 2009, compared to revenue of $73.1 million in the fourth quarter of 2008. This performance was largely driven by lower service revenue stemming from contract re-pricings ($5.9 million) and contract terminations ($2.9 million), partially offset by higher service revenue from China, reflecting China Sports Lottery instant ticket retail sales growth of approximately 32%.
Fourth quarter 2009 operating loss was $14.1 million, compared to an operating loss of $73.2 million in the fourth quarter of 2008. The change in operating loss for the period primarily reflected lower depreciation and amortization expense ($44.0 million), primarily due to reduced impairment charges in the fourth quarter of 2009 compared to the fourth quarter of 2008, the absence in 2009 of the 2008 loss on each of the Mexico and Oklahoma contracts ($7.8 million), increased profitability on hardware and software sales, higher income from China systems operations and lower selling, general and administrative expenses, partially offset by the impact of the Pennsylvania contract re-pricing ($6.0 million).
Diversified Gaming Group
Diversified Gaming Group revenue declined to $49.8 million in the fourth quarter of 2009, compared to revenue of $56.4 million in the fourth quarter of 2008, primarily reflecting Games Media's planned transition from analog terminal sales to digital terminals that are being deployed under revenue participation agreements ($2.3 million) and softness in the Racing and Venue Management businesses ($3.1 million). Global Draw's service revenue during the fourth quarter of 2009 grew modestly from the comparable period in 2008, primarily due to continuing growth in installed terminals and win per day in the U.K. and higher revenue from Mexico.
During the fourth quarter of 2009, Global Draw's net terminal base grew to 17,284, primarily reflecting the addition of 200 terminals in Mexico and an additional 292 terminals to off-track betting shops in Puerto Rico, partially offset by the removal of over 200 low-yielding terminals in Slovakia and elsewhere. Games Media's installed terminal base grew to 2,351 by the end of 2009, with presence in almost 1,000 pubs. The Company indicated that terminal base expansion and increased win per day continue to be significant areas of focus and opportunity in 2010 and beyond. In the fourth quarter of 2009, Games Media was awarded an additional 350 locations with U.K. pub operator Marston's and in early 2010 Global Draw was awarded new contracts with U.K. betting shop operators Gala Coral and Totesport that are expected to maintain the current installed base of over 8,000 terminals through at least 2014.
Operating loss was $58.2 million in the fourth quarter of 2009, compared to an operating loss of $0.9 million in the fourth quarter of 2008. Fourth quarter 2009 operating loss primarily reflected charges totaling $54.4 million, including the non-cash write-down ($50.4 million) and transaction-related expenses ($4.0 million) associated with the Company's proposed sale of its Racing and Venue Management businesses, as well as the decline in revenue.
Full Year Financial Results
Revenue totaled $927.7 million in 2009, compared to revenue of $1,118.8 million in 2008. This performance primarily reflected the shift in China instant ticket sales to our joint venture ($39.8 million), unfavorable foreign currency translation ($39.0 million), the impact of contract re-pricings ($50.5 million) and contract terminations ($10.8 million), lower sales of licensed products ($13.7 million) and phone cards ($15.7 million), and Games Media's planned transition to revenue participation-based digital terminals ($9.2 million).
The Company reported essentially breakeven operating income for the year, compared to operating income of $21.6 million, or 1.9% of revenue, in 2008. The 2009 performance included the non-cash write-down of Racing and Venue Management assets held for sale ($50.4 million), non-cash impairment charges of Lottery Systems contracts in Connecticut and Maryland ($24.7 million), transaction-related expenses ($10.4 million) and restructuring-related expenses ($8.9 million). The operating income in 2008 included non-cash impairment charges ($76.2 million) primarily related to Lottery Systems contracts in Mexico and Oklahoma, and restructuring-related expenses ($22.5 million) including employee termination costs ($13.7 million).
Adjusted EBITDA in 2009 was $314.7 million, or 33.9% of revenue, compared to adjusted EBITDA of $360.5 million, or 32.2% of revenue, in 2008. The decline in adjusted EBITDA was primarily driven by the impact of lower revenue and unfavorable foreign currency translation ($12.1 million), partially offset by lower selling, general and administrative expenses ($19.8 million) stemming from savings related to the Company's Profitability Improvement Program ($23.9 million), and higher income from the Company's joint ventures and Lottery Systems contract in China.
Net loss for 2009 was $39.9 million, or $0.43 per diluted share, compared to a net loss of $4.5 million, or $0.05 per diluted share, in 2008. This performance reflected the decline in operating income for the period and higher net interest and other expense, partially offset by a year-over-year improvement in the early extinguishment of debt and a lower effective tax rate.
Profitability Improvement Program Update
The Profitability Improvement Program, initiated in the fall of 2008, yielded cost savings of $6.7 million in the fourth quarter of 2009 and $23.9 million for the full year, exceeding the Company's 2009 goal of $15 to $20 million. The Company has recently undertaken a global procurement initiative designed to leverage the Company's worldwide purchasing power and outsourcing where appropriate, which it believes will drive continued improvement in its cost structure over time.
Liquidity and Capital Resources
The Company generated free cash flow of $12.5 million in the fourth quarter of 2009, compared to free cash flow of $1.1 million in the fourth quarter of 2008. For the full year, the Company generated free cash flow of $108.5 million, compared to negative free cash flow of $21.4 million in 2008. The improvement in free cash flow for both periods primarily reflected significantly lower capital expenditures, as well as lower cash taxes and an improvement in working capital.
"Despite the challenges we faced in 2009, we delivered exceptional cost savings and free cash flow generation," stated Jeffrey S. Lipkin, Vice President and Chief Financial Officer. "We plan to build on these results moving forward, and we remain focused and disciplined in our efforts to achieve long-term, profitable growth," Mr. Lipkin added.
During the fourth quarter of 2009, the Company placed $125.0 million of Senior Subordinated Notes due 2019 and purchased $89.2 million in aggregate principal amount of its 0.75% Convertible Senior Subordinated Debentures due 2024 (the "Convertible Debentures") in a tender offer. When combined with repurchases earlier in the year under the Company's repurchase program, the Company retired $263.8 million in aggregate principal amount of the Convertible Debentures during 2009, leaving a balance of $9.9 million outstanding at December 31, 2009.
At December 31, 2009, the Company had cash and cash equivalents of $260.1 million and availability under its revolving credit facility of $167.9 million, after outstanding and undrawn letters of credit, compared to cash and cash equivalents of $140.6 million and availability under the Company's revolving credit facility of $190.2 million, after outstanding and undrawn letters of credit, as of December 31, 2008. As of December 31, 2009, the Company had total indebtedness of $1,367.1 million, compared to total indebtedness of $1,239.5 million as of December 31, 2008.
On March 1, 2010, the Company had sufficient unrestricted cash and availability under its revolving credit facility to satisfy the liquidity condition in its credit agreement related to the Convertible Debentures and thereby prevent the acceleration of borrowings under the credit agreement.
Convertible Debentures
A market price event did not occur for the quarter ended December 31, 2009 and, accordingly, the Convertible Debentures are not convertible during the current quarter ending March 31, 2010. During the fourth quarter of 2009, the average price of the Company's common stock was lower than the conversion price of the Convertible Debentures. Therefore, no shares related to the Convertible Debentures were included in the Company's weighted-average diluted common shares outstanding for the three months and year ended December 31, 2009.
Conference Call Details
We invite you to join our conference call on March 1, 2010 at 8:30 AM Eastern Standard Time. To access the call live via webcast, please visit http://www.scientificgames.com and click on the webcast link under the Investor Information section. To access the call by telephone, please dial (866) 277-1184 (US & Canada) or (617) 597-5360 (International) 15 minutes before the start of the call. The Conference ID# is 56701473.
About Scientific Games
Scientific Games Corporation is a leading integrated supplier of instant tickets, systems and services to lotteries worldwide, a leading supplier of server-based gaming machines and systems, Amusement and Skill with Prize betting terminals, interactive sports betting terminals and systems, and wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut, Maine and the Netherlands. The Company's customers are in the United States and more than 50 countries. For more information about the Company, please visit our website at http://www.scientificgames.com.
Company Contact:
Investor Relations
Scientific Games
212-754-2233
Forward-Looking Statements
In this press release the Company makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of future results or performance. Actual results may differ materially from those projected in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; material adverse changes in economic and industry conditions; technological change; retention and renewal of existing contracts and entry into new or revised contracts; availability and adequacy of cash flow to satisfy obligations and indebtedness or future needs; protection of intellectual property; security and integrity of software and systems; laws and government regulation, including those relating to gaming licenses, permits and operations; inability to identify, complete and integrate future acquisitions; inability to benefit from, and risks associated with, joint ventures and strategic investments and relationships; inability to complete the proposed sale of the Racing and Venue Management businesses; seasonality; inability to enhance and develop successful gaming concepts; dependence on suppliers and manufacturers; liability for product defects; factors associated with foreign operations; influence of certain stockholders; dependence on key personnel; failure to perform on contracts; resolution of pending or future litigation; labor matters; and stock price volatility. Additional information regarding risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in the Company's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made and, except for the Company's ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
Non-GAAP Disclosure
1. Free cash flow, as included herein, represents net cash provided by
operating activities less total capital expenditures (which includes
wagering systems expenditures and other intangible assets and software
expenditures). Free cash flow is a non-GAAP financial measure that is
presented herein as a supplemental disclosure and is reconciled to net
cash provided by operating activities in a schedule below.
2. Adjusted EBITDA, as included herein, represents net income (loss) plus
income tax expense, depreciation and amortization expense, interest
expense, other expense (income), net, and loss (gain) on early
extinguishment of debt, and is adjusted to add back segment and
corporate employee termination costs, Lottery Systems contract
impairment costs, Global Draw earn-out costs, costs associated with a
CEO retirement and a division president retirement, acquisition due
diligence charges, restructuring advisory fees, costs associated with
the California Horse Racing Board resolution, costs associated with a
property tax settlement, legal costs associated with termination of our
Lottery Systems contract in Mexico, legal costs associated with the
Italian tender, a Lottery Systems insurance settlement, a Lottery
Systems Mexico accrual reversal, the write-down of Racing and Venue
Management assets held for sale and stock compensation charges.
Adjusted EBITDA is a non-GAAP financial measure that is presented
herein as a supplemental disclosure and is reconciled to net income
(loss) in a schedule below. Adjusted EBITDA margin represents adjusted
EBITDA divided by total revenue. Management believes that the GAAP
financial measure used by the Company that is most directly comparable
to adjusted EBITDA margin is operating income margin (which is set
forth in a schedule below).
The Company's management uses the foregoing non-GAAP financial measures in conjunction with GAAP financial measures to: monitor and evaluate the performance of the Company's business operations; facilitate management's internal comparisons of the Company's historical operating performance of its business operations; facilitate management's external comparisons of the results of its overall business to the historical operating performance of other companies that may have different capital structures and debt levels; review and assess the operating performance of the Company's management team; analyze and evaluate financial and strategic planning decisions regarding future operating investments; and plan for and prepare future annual operating budgets and determine appropriate levels of operating investments. Accordingly, the Company's management believes that these non-GAAP financial measures are useful to investors to provide them with disclosures of the Company's operating results on the same basis as that used by the Company's management.
In addition, management believes adjusted EBITDA is helpful in assessing the Company's operating performance and highlighting trends in the Company's core businesses that may not otherwise be apparent when relying solely on GAAP financial measures, because this non-GAAP financial measure eliminates from earnings financial items that management believes have less bearing on the Company's performance. In addition, management believes that adjusted EBITDA is useful in evaluating the Company's financial performance because it is a commonly used financial analysis tool for measuring and comparing gaming companies in several areas, such as liquidity, operating performance and leverage. Management further believes that adjusted EBITDA and free cash flow provide useful information regarding the Company's liquidity and its ability to service debt and fund investments.
Accordingly, the Company's management believes that the presentation of the non-GAAP financial measures, when used in conjunction with GAAP financial measures, provides both management and investors with financial information that can be useful in assessing the Company's financial condition and operating performance.
The non-GAAP financial measures used herein should not be considered in isolation of, as a substitute for, or superior to, the financial information prepared in accordance with GAAP. The non-GAAP financial measures as defined in this press release may differ from similarly titled measures presented by other companies. The non-GAAP financial measures, as well as other information in this press release, should be read in conjunction with the Company's financial statements filed with the Securities and Exchange Commission.
Beginning with our earnings release for the quarter ending March 31, 2010, the definition of "adjusted EBITDA" will be based on the definition of "consolidated EBITDA" in our credit agreement (summarized in the paragraph below), except that adjusted EBITDA as used in our earnings release will include (without duplication) our share of the income (or deficit) of our joint ventures, whether or not such income has been distributed to us (whereas "consolidated EBITDA" for purposes of the credit agreement includes such income only to the extent it has been distributed to us). In order to provide continuity between the presentation of adjusted EBITDA as used herein and in recent earnings releases and the presentation of the revised definition of adjusted EBITDA that will be used going forward, the Company has included schedules below setting forth adjusted EBITDA under the revised definition as compared to adjusted EBITDA as reported for the periods indicated.
"Consolidated EBITDA" means, for any period, "consolidated net income" as defined in the credit agreement (i.e., generally our consolidated net income (or loss) excluding the income (or deficit) of our joint ventures except to the extent that such income has been distributed to us) for such period plus, to the extent reflected as a charge in the statement of such consolidated net income for such period, the sum of (1) income tax expense, (2) depreciation and amortization expense, (3) interest expense, (4) amortization or write-off of debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with debt (see line item captioned "Debt-Related Fees and Charges" in the schedules below), (5) amortization of intangibles (including goodwill) and organization costs (see line item captioned "Amortization of Intangibles" in the schedules below), (6) earn-out payments with respect to certain acquisitions that we have made, such as our acquisition of Global Draw, or any other permitted acquisitions (generally, acquisitions of companies that are primarily engaged in the same or related line of business and that become subsidiaries of ours, or acquisitions of all or substantially all of the assets of another company or division or business unit of another company), including any loss or expense with respect to such earn-out payments (see line item captioned "Earn-Outs for Permitted Acquisitions" in the schedules below), (7) extraordinary charges or losses determined in accordance with GAAP, (8) non-cash stock-based compensation expenses, (9) up to $3,000,000 of expenses, charges or losses resulting from certain Peru investments (see line item captioned "Peru Investment Expenses" in the schedules below), (10) the non-cash portion of any non-recurring write-offs or write-downs as required in accordance with GAAP (see line item captioned "Non-Recurring Write-Offs under GAAP" in the schedules below), (11) advisory fees and related expenses paid to advisory firms in connection with permitted acquisitions (see line item captioned "Acquisition Advisory Fees" in the schedules below), (12) certain specified "permitted add-backs" (i.e., (A) up to $15,000,000 (less the amount of certain permitted pro forma adjustments to consolidated EBITDA in connection with material acquisitions) of charges incurred during any 12-month period in connection with (i) reductions in workforce, (ii) contract losses, discontinued operations, shutdown expenses and cost reduction initiatives, (iii) transaction expenses incurred in connection with potential acquisitions and divestitures, whether or not consummated, and (iv) restructuring charges and transaction expenses incurred in connection with certain transactions with Playtech Limited or its affiliates, and (B) reasonable and customary costs incurred in connection with amendments to the credit agreement) (see line item captioned "Specified Permitted Add-Backs" in the schedules below) (provided that the foregoing amounts do not include write-offs or write-downs of accounts receivable or inventory and, except with respect to permitted add-backs, any write-off or write-down to the extent it is in respect of cash payments to be made in a future period), (13) to the extent treated as an expense in the period paid or incurred, certain payments, costs and obligations made or incurred by us in connection with any award of a license to operate the instant ticket lottery in Italy, including any up-front fee required under the applicable tender process (see line item captioned "Italian Concession Obligations" in the schedules below), (14) restructuring charges, transaction expenses and shutdown expenses incurred in connection with the disposition of all or part of our Racing and Venue Management businesses, together with up to $7,325,000 of charges incurred in connection with discontinued operations and cost-reduction initiatives associated with such disposition (see line item captioned "Racing Disposition Charges and Expenses" in the schedules below) and (15) up to 5,250,000 pounds Sterling during any four-quarter period of expenses or charges incurred in connection with the payment of license royalties or other fees to Playtech Limited or its affiliates and for software services provided to Global Draw or Games Media by Playtech Limited or its affiliates (see line item captioned "Playtech Royalties and Fees" in the schedules below), minus, to the extent included in the statement of such consolidated net income for such period, the sum of (1) interest income, (2) extraordinary income or gains determined in accordance with GAAP and (3) income or gains with respect to earn-out payments with respect to acquisitions referred to above (see line item captioned "Income on Earn-Outs for Permitted Acquisitions" in the schedules below). Consolidated EBITDA is also subject to certain adjustments in connection with material acquisitions and dispositions as provided in the credit agreement. The foregoing definitions of "consolidated net income" and "consolidated EBITDA" are qualified in their entirety by the full text of such definitions in our credit agreement, a copy of which is attached as Exhibit 10.1 to our Current Report on Form 8-K filed with the Securities and Exchange Commission on February 19, 2010.
The Company's management believes that the revised definition of adjusted EBITDA, which the Company intends to use going forward beginning with the first quarter 2010 earnings release, is useful to investors for the reasons described above and because the definition is derived from the definition of "consolidated EBITDA" in our credit agreement, which is used to calculate the Company's compliance with the financial covenants contained in the credit agreement. In addition, the free cash flow performance metric used in determining performance-based bonuses for 2010 is calculated by subtracting total capital expenditures (which includes wagering systems expenditures and other intangible assets and software expenditures) from the revised definition of adjusted EBITDA (subject to certain additional adjustments in the discretion of the Compensation Committee (e.g., to take into account acquisitions, divestitures, sign-on or guaranteed bonuses approved by the Compensation Committee and accounting changes during the year)). Moreover, the operating income performance metric used in determining performance-based bonuses for 2010 is subject to the same adjustments used to determine the revised definition of adjusted EBITDA (and certain additional adjustments in the discretion of the Compensation Committee (e.g., to take into account acquisitions, divestitures, sign-on or guaranteed bonuses approved by the Compensation Committee and accounting changes during the year)).
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended December 31, 2008 and 2009
(Unaudited, in thousands, except per share amounts)
Operating expenses:
Cost of instant tickets (exclusive of
depreciation and amortization) 81,851 68,229
Cost of services (exclusive of
depreciation and amortization) 72,540 59,022
Cost of sales (exclusive of
depreciation and amortization) 22,048 13,641
Selling, general and administrative
expenses 46,210 48,769
Write-down of assets held for sale - 54,356
Employee termination costs 10,923 -
Depreciation and amortization 112,543 58,331
------- ------
Operating (loss) (82,197) (69,463)
------- -------
Other (income) expense:
Interest expense 22,326 24,558
Equity in earnings of joint ventures (9,958) (14,462)
Early extinguishment of debt - (234)
Other (income) expense (3,178) 3,868
------ -----
9,190 13,730
----- ------
Loss before income tax expense (91,387) (83,193)
Income tax benefit (22,320) (33,052)
------- -------
Net loss $(69,067) $(50,141)
======== ========
Basic and diluted net loss per share:
Basic net loss $(0.75) $(0.54)
====== ======
Diluted net loss $(0.75) $(0.54)
====== ======
Weighted average number of shares:
Basic shares 92,704 93,070
====== ======
Diluted shares 92,704 93,070
====== ======
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Twelve Months Ended December 31, 2008 and 2009
(Unaudited, in thousands, except per share amounts)
Operating expenses:
Cost of instant tickets (exclusive of
depreciation and amortization) 331,501 270,836
Cost of services (exclusive of
depreciation and amortization) 263,284 234,093
Cost of sales (exclusive of
depreciation and amortization) 85,856 44,539
Selling, general and administrative
expenses 184,213 168,248
Write-down of assets held for sale - 54,356
Employee termination costs 13,695 3,920
Depreciation and amortization 218,643 151,784
------- -------
Operating income (loss) 21,637 (27)
------ ---
Other (income) expense:
Interest expense 78,071 87,498
Equity in earnings of joint ventures (58,570) (59,220)
Early extinguishment of debt 2,960 (4,829)
Other (income) expense (4,691) 2,856
------ -----
17,770 26,305
------ ------
Income (loss) before income tax expense 3,867 (26,332)
Income tax expense 8,352 13,547
----- ------
Net loss $(4,485) $(39,879)
======= ========
Basic and diluted net loss per share:
Basic net loss $(0.05) $(0.43)
====== ======
Diluted net loss $(0.05) $(0.43)
====== ======
Weighted average number of shares:
Basic shares 92,875 92,701
====== ======
Diluted shares 92,875 92,701
====== ======
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
SELECTED CONSOLIDATED BALANCE SHEET DATA
December 31, 2008 and December 31, 2009
(Unaudited, in thousands)
December 31, December 31,
2008 2009
---- ----
Assets:
Cash and cash equivalents $140,639 $260,131
Other current assets 371,139 321,495
Assets held for sale - 91,102
Property and equipment, net 575,479 468,439
Long-term assets 1,095,196 1,150,625
--------- ---------
Total assets $2,182,453 $2,291,792
========== ==========
Liabilities and Stockholders' Equity:
Current portion of long-term debt $43,384 $24,808
Other current liabilities 217,300 180,298
Liabilities held for sale - 20,097
Long-term debt, excluding current
portion 1,196,083 1,342,255
Other long-term liabilities 129,857 104,576
Stockholders' equity 595,829 619,758
------- -------
Total liabilities and stockholders'
equity $2,182,453 $2,291,792
========== ==========
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
CONSOLIDATED SEGMENT OPERATING DATA
Three Months Ended December 31, 2008 and 2009
(Unaudited, in thousands)
Three Months Ended December 31, 2008
------------------------------------
Printed Lottery Diversified
Products Systems Gaming
Group Group Group Totals
----- ----- ----- ------
Three Months Ended December 31, 2009
------------------------------------
Printed Lottery Diversified
Products Systems Gaming
Group Group Group Totals
----- ----- ----- ------
Instant ticket revenue $112,621 $- $- $112,621
Service revenue - 51,602 48,414 100,016
Sales revenue 3,598 15,284 1,366 20,248
----- ------ ----- ------
Total revenue 116,219 66,886 49,780 232,885
------- ------ ------ -------
Cost of instant tickets (1) 68,229 - - 68,229
Cost of services (1) - 27,149 31,873 59,022
Cost of sales (1) 2,195 10,592 854 13,641
Selling, general and
administrative expenses 10,838 7,183 7,640 25,661
Write-down of assets
held for sale - - 54,356 54,356
Employee termination costs - - - -
Depreciation and
amortization (2) 8,886 36,021 13,265 58,172
----- ------ ------ ------
Segment operating
income (loss) $26,071 $(14,059) $(58,208) $(46,196)
------- -------- -------- --------
Unallocated
corporate expense 23,267
Corporate employee
termination costs -
---
Consolidated
operating loss $(69,463)
========
Operating income margin N/A
(1) Exclusive of depreciation and amortization.
(2) Includes amortization of service contract software.
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
CONSOLIDATED SEGMENT OPERATING DATA
Twelve Months Ended December 31, 2008 and 2009
(Unaudited, in thousands)
Twelve Months Ended December 31, 2008
-------------------------------------
Printed Lottery Diversified
Products Systems Gaming
Group Group Group Totals
----- ----- ----- ------
Twelve Months Ended December 31, 2009
-------------------------------------
Printed Lottery Diversified
Products Systems Gaming
Group Group Group Totals
----- ----- ----- ------
Instant ticket revenue $453,238 $- $- $453,238
Service revenue - 211,015 198,999 410,014
Sales revenue 13,374 46,372 4,751 64,497
------ ------ ----- ------
Total revenue 466,612 257,387 203,750 927,749
------- ------- ------- -------
Cost of instant tickets (1) 270,836 - - 270,836
Cost of services (1) - 110,660 123,433 234,093
Cost of sales (1) 8,923 32,619 2,997 44,539
Selling, general and
administrative expenses 44,979 30,225 24,923 100,127
Write-down of assets
held for sale - - 54,356 54,356
Employee termination costs 2,016 125 433 2,574
Depreciation and
amortization (2) 32,982 68,902 49,224 151,108
------ ------ ------ -------
Segment operating
income (loss) $106,876 $14,856 $(51,616) $70,116
-------- ------- -------- -------
Unallocated
corporate expense 68,797
Corporate employee
termination costs 1,346
-----
Consolidated
operating loss $(27)
====
Operating income margin N/A
(1) Exclusive of depreciation and amortization.
(2) Includes amortization of service contract software.
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
(Unaudited, in thousands)
Three Months Twelve Months
Ended December 31, Ended December 31,
------------------ ------------------
2008 2009 2008 2009
---- ---- ---- ----
Net income (loss) $(69,067) $(50,141) $(4,485) $(39,879)
Add: Income tax expense (22,320) (33,052) 8,352 13,547
Add: Depreciation and
amortization expense 112,543 58,331 218,643 151,784
Add: Interest expense 22,326 24,558 78,071 87,498
Add: Other expense (income), net (3,178) 3,868 (4,691) 2,856
Add: Loss (gain) on early
extinguishment of debt - (234) 2,960 (4,829)
--- ---- ----- ------
EBITDA $40,304 $3,330 $298,850 $210,977
======= ====== ======== ========
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO REVISED DEFINITION OF ADJUSTED EBITDA
(Unaudited, in thousands)
Three Months Ended
----------------------------------------------------
March 31, June 30, September 30, December 31,
2008 2008 2008 2008
---------- --------- -------------- -------------
Net income (loss) $16,663 $25,754 $22,166 $(69,067)
Add: Income tax
expense 8,494 12,316 9,862 (22,320)
Add: Depreciation
and amortization
expense 34,504 35,108 36,487 112,543
Add: Interest
expense 17,145 17,680 20,920 22,326
Add: Other expense
(income), net 50 (745) (818) (3,178)
Add: Loss (gain)
on early extinguishment
of debt - 2,960 - -
--- ----- --- ---
EBITDA $76,856 $93,073 $88,617 $40,304
======= ======= ======= =======
Add: Debt Related
Fees and Charges $- $- $- $-
Add: Amortization of
Intangibles - - - -
Add: Earn-outs
for Permitted
Acquisitions (1) 1,776 1,670 - 930
Add: Extraordinary
Charges or Losses
under GAAP - - - -
Add: Non-Cash
Stock-Based
Compensation
Expenses 8,518 7,610 8,220 9,774
Add: Peru Investment
Expenses, Charges or
Losses - - 30 -
Add: Non-Recurring
Write-Offs
under GAAP - - - 562
Add: Acquisition
Advisory Fees - - - -
Add: Specified
Permitted Add-Backs (2) - - - 17,253
Add: Italian Concession
Obligations - - - -
Add: Racing Disposition
Charges and Expenses - - - -
Add: Playtech
Royalties and Fees - - - -
Add/Less: Other
(expense)
income, net (3) (50) 745 818 3,178
Less: Interest Income (394) (520) (970) (523)
Less: Extraordinary
Income or Gains
under GAAP - - - -
Add: Income on
Earn-Outs for
Permitted
Acquisitions - - - -
Less: (Loss) gain
on early extinguishment
of debt (4) - (2,960) - -
Add/Less: Other - - - -
------- ------- ------- -------
Revised Adjusted
EBITDA $86,706 $99,618 $96,715 $71,478
======= ======= ======= =======
(1) Amounts reflect Global Draw employee contingent bonus payments.
(2) Amounts include transaction expenses, contract impairments and
restructuring expenses.
(3) Adjustment to conform to credit agreement definition. Amounts include
foreign exchange transactions, interest income, minority interest and
other items.
(4) Adjustment to conform to credit agreement definition.
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO REVISED DEFINITION OF ADJUSTED EBITDA
(Unaudited, in thousands)
Three Months Ended
----------------------------------------------------
March 31, June 30, September 30, December 31,
2009 2009 2009 2009
---------- --------- -------------- -------------
Net income (loss) $(25,190) $20,346 $15,106 $(50,141)
Add: Income tax
expense 38,641 1,093 6,865 (33,052)
Add: Depreciation
and amortization
expense 31,143 30,261 32,049 58,331
Add: Interest
expense 18,809 21,395 22,736 24,558
Add: Other expense
(income), net (1,917) 931 (27) 3,868
Add: Loss (gain)
on early
extinguishment of
debt (2,288) (1,756) (550) (234)
------ ------ ---- ----
EBITDA $59,198 $72,270 $76,179 $3,330
======= ======= ======= ======
Add: Debt Related Fees
and Charges (1) $289 $546 $181 $122
Add: Amortization
of Intangibles - - - -
Add: Earn-outs for
Permitted
Acquisitions (2) - 219 - -
Add: Extraordinary
Charges or Losses
under GAAP - - - -
Add: Non-Cash Stock-Based
Compensation Expenses 11,278 7,339 7,286 8,686
Add: Peru Investment
Expenses, Charges
or Losses - - - -
Add: Non-Recurring
Write-Offs under GAAP - - - 50,361
Add: Acquisition
Advisory Fees - - - -
Add: Specified
Permitted Add-Backs (3) 3,987 - 129 8,705
Add: Italian Concession
Obligations - - 657 1,976
Add: Racing Disposition
Charges and Expenses - - - 3,995
Add: Playtech
Royalties and Fees - - - -
Add/Less: Other
expense
(income), net (4) 1,917 (931) 27 562
Less: Interest
Income (322) (199) (323) (413)
Less: Extraordinary
Income or Gains
under GAAP - - - -
Add: Income on Earn-
Outs for Permitted
Acquisitions - - - -
Add: (Loss) gain
on early
extinguishment of
debt (5) 2,288 1,756 550 234
Add/Less: Other - - - -
------- ------- ------- -------
Revised Adjusted
EBITDA $78,635 $81,000 $84,686 $77,558
======= ======= ======= =======
(1) Amounts reflect write-off of unamortized deferred financing costs in
connection with early extinguishment of debt.
(2) Amounts reflect Global Draw employee contingent bonus payments.
(3) Amounts include management transition expenses, transaction expenses,
contract impairments and restructuring expenses.
(4) Adjustment to conform to credit agreement definition. Amounts include
foreign exchange transactions, interest income, minority interest and
other items.
(5) Adjustment to conform to credit agreement definition.
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO REVISED DEFINITION OF ADJUSTED EBITDA
(Unaudited, in thousands)
Net income (loss) $(4,485) $(4,485) $(39,879) $(39,879)
Add: Income tax expense 8,352 8,352 13,547 13,547
Add: Depreciation and
amortization expense 218,643 218,643 151,784 151,784
Add: Interest expense 78,071 78,071 87,498 87,498
Add: Other expense
(income), net (4,691) (4,691) 2,856 2,856
Add: Loss (gain) on early
extinguishment of debt 2,960 2,960 (4,829) (4,829)
----- ----- ------ ------
EBITDA $298,850 298,850 $210,977 $210,977
======== ======= ======== ========
Add: Debt Related Fees and
Charges (1) $- $- $1,138 $-
Add: Amortization of
Intangibles - - - -
Add: Earn-outs for
Permitted Acquisitions (2) 4,376 4,376 219 -
Add: Extraordinary
Charges or Losses
under GAAP - - - -
Add: Non-Cash Stock-Based
Compensation Expenses 34,122 34,122 34,589 34,589
Add: Peru Investment
Expenses, Charges or Losses 30 - - -
Add: Non-Recurring
Write-Offs under GAAP (3) 562 - 50,361 54,356
Add: Acquisition
Advisory Fees - - - -
Add: Specified Permitted
Add-Backs (4) 17,253 21,526 12,821 12,625
Add: Italian Concession
Obligations - - 2,633 2,633
Add: Racing Disposition
Charges and Expenses (5) - - 3,995 -
Add: Playtech Royalties
and Fees - - - -
Add: Other expense
(income), net (6) 4,691 - 1,575 -
Less: Interest Income (7) (2,407) - (1,256) -
Less: Extraordinary Income
or Gains under GAAP - - - -
Add: Income on Earn-
Outs for Permitted
Acquisitions - - - -
Add/Less: (Loss) gain
on early extinguishment
of debt (8) (2,960) - 4,829 -
Add/Less: Other (9) - 1,630 - (515)
-------- -------- -------- --------
Adjusted EBITDA $354,517 $360,504 $321,881 $314,665
======== ======== ======== ========
Variance $(5,987) $7,216
(1) Amount reflects write-off of unamortized deferred financing costs in
connection with early extinguishment of debt.
(2) Amounts reflect Global Draw employee contingent bonus payments.
(3) Reflects inclusion in 2008 revised adjusted EBITDA of $562 related to
write-offs of deferred acquisition expenses. Difference in amounts
for 2009 period reflect $3,995 of transaction expenses related to
proposed sale of Racing and Venue Management businesses that are
included in Racing Disposition Charges and Expenses (see footnote 5).
(4) Amounts include management transition expenses, transaction expenses,
contract impairments and restructuring expenses. Difference in
amounts for 2008 period reflects exclusion from revised adjusted
EBITDA of $2,772 of restructuring expenses and inclusion in revised
adjusted EBITDA of the reversal of reserves related to the shut-down
of a Lottery Systems contract.
(5) Amount reflects $3,995 of transaction expenses related to proposed
sale of Racing and Venue Management businesses (which are included in
adjusted EBITDA as Non-Recurring Write-Offs under GAAP) (see footnote
3).
(6) Adjustment to conform to credit agreement definition.
(7) Reflects exclusion of interest income from revised adjusted EBITDA.
(8) Adjustment to conform to credit agreement definition.
(9) Reflects exclusion in 2008 revised adjusted EBITDA of $930 for
division president retirement and $700 related to California Horse
Racing Board resolution. Reflects exclusion in 2009 revised adjusted
EBITDA of $900 of Lottery Systems Mexico legal costs and $1,005 of
property tax settlements (offset by a Lottery Systems insurance
settlement of $1,308 and Mexico accrual reversal of $1,112).
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
CALCULATION OF FREE CASH FLOW
(Unaudited, in thousands)
Three Months Ended Twelve Months Ended
December 31, December 31,
---------------- -------------------
2008 2009 2008 2009
---- ---- ---- ----
Net cash provided by
operating activities $67,053 $44,082 $208,498 $220,077
Less: Capital expenditures (8,800) (3,795) (19,686) (12,932)
Less: Wagering systems
expenditures (44,627) (19,741) (163,954) (64,610)
Less: Other intangible assets
and software expenditures (12,567) (7,999) (46,278) (34,039)
------- ------ ------- -------
Total Capital Expenditures $(65,994) $(31,535) $(229,918) $(111,581)
-------- -------- --------- ---------
For 2009, net cash provided by operating activities includes an outflow of
$10 million relating to a retirement plan. This outflow is offset by an
inflow connected with the retirement plan but reflected as an investing
activity. Other than capital expenditures, investing activities are not a
component of free cash flow. As a result, only the outflow is being shown
in the free cash flow calculation.
SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
Key Performance Indicators
(Unaudited, in thousands, except terminals and ASP)
Three Months Ended Twelve Months Ended
December 31, December 31,
------------------ -------------------
2008 2009 2008 2009
---- ---- ---- ----
Select Data:
Italy - Gratta e Vinci
Revenues (Euros) 2,342,000 2,347,000 9,275,000 9,435,000
China - China Sports Lottery
Revenues (RMB) 2,814,000 3,702,000 10,231,000 15,180,000
Tickets Sold 539,603 538,658 1,910,631 2,163,428
ASP (RMB) 5.21 6.87 5.35 7.02
Terminal installed base at
end of period:
Global Draw 15,288 17,284 15,288 17,284
Games Media 1,453 2,351 1,453 2,351