BIO-key(R) International to Showcase Biometric Identification Technology at RSA Conference 2010
Award Winning Fingerprint Authentication Software on Display at Industry Leading Conference
WALL, N.J., March 1 -- BIO-key International, Inc. (BULLETIN BOARD: BKYI) , a leader in finger-based biometric identification solutions, today announced that its fingerprint biometric solutions will be on display at the RSA Conference 2010, in the Initiative for Open AuTHentication (OATH) Pavilion, booth # 2023. This prestigious information security event 'Where The World Talks Security' is being held at the Moscone Conference Center on March 1st - 5th in San Francisco, CA.
Selected by SC Magazine as the 2009 Industry Innovator in Biometrics, BIO-key is a proud member of OATH, the industry's leading collaboration of device, platform and application companies of authentication technologies. At RSA, BIO-key will demonstrate a wide spectrum of solutions that have been successfully deployed using its patented authentication technology. These solutions leverage the superior accuracy and scalability of the BIO-key biometric identity software.
BIO-key's fingerprint identity software is available as part of the standard release of IBM Tivoli Access Manager for Enterprise Single Sign-On and is also integrated with Oracle Access Manager and CA Siteminder platforms. Equally impressive, BIO-key provides Citrix Platform support across a single virtual channel interface. This unique offering can be easily deployed into any application to positively identify users before allowing access to valuable corporate resources, web portals or applications.
According to a 2009 Gartner report, "25% of all customers implementing Enterprise Single Sign On (ESSO) augment with alternative authentication". This report also cited that "Healthcare customers are increasingly deploying a combination of proximity cards and passwords for authentication to ESSO."
"BIO-key solutions enable IT professionals, vertical solution providers, OEMs, and integrators to quickly implement convenient and secure biometric user identification into any new or existing application," said Mike DePasquale, CEO of BIO-key International. "Our award winning fingerprint biometric identity solutions are a proven, cost-effective, easy-to-deploy and maintain alternative to passwords and cards."
About BIO-key
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions to commercial and government enterprises, integrators, and custom application developers. BIO-key's award winning, high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise applications. Our solutions are used in local embedded OEM products as well as some of the world's largest identification deployments to improve security, guarantee identity, and help reduce identity theft. BIO-key's technology is offered directly or by market leading partners around the world. (http://www.bio-key.com/)
BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Demonstrates International Quality Management and Processes for Software Development
HONG KONG, March 1 -- Longtop Financial Technologies Limited ("Longtop") (NYSE:LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced it has achieved company-wide Capability Maturity Model Integration (CMMI) Level 5 Certification for software development. CMMI is an international standard developed by the Software Engineering Institute (SEI) to assess the maturity of software development processes. Maturity Level 5 is the highest rating that can be achieved under the standard.
"We are extremely proud to have joined the select group of companies worldwide that have CMMI Level 5 certification," said Weizhou Lian, Chief Executive Officer of Longtop. "The CMMI Level 5 certification reflects our commitment to continuous process improvement and providing our clients with the highest quality software solutions and services."
"Having certified various leading software companies around the world with CMMI Level 5 certification, I believe Longtop is clearly a deserving recipient of this certification. CMMI Level 5 demonstrates that Longtop is one of the leaders in the Chinese software industry. Not only is this milestone a significant achievement for Longtop, it also highlights the growing maturity of the Chinese software industry as well as the continued expansion of the CMMI as a means to benchmark organizations throughout the world," said Henry Schneider, a SEI certified High Maturity Lead Appraiser with SEI Partner Process and Product Quality Consulting (PPQC).
About SEI
The Software Engineering Institute (SEI) is a U.S. Department of Defence federally funded research and development center operated by Carnegie Mellon University. The SEI helps organizations make measured improvements in their software engineering capabilities by providing technical leadership to advance the practice of software engineering
About Longtop Financial Technologies Limited
Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop is the highest ranked Chinese financial technology provider on the Global FinTech 100 survey of top technology partners to the financial services industry. Independent research firm IDC has also named Longtop the No.1 market share leader in China's Banking IT solution market and the No.2 market share leader in China's Insurance IT solution market in calendar year 2008. Headquartered in Beijing, Longtop has six solution delivery centers, three research and development centers and 95 ATM service centers located in 27 out of 31 provinces in China.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes, " "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the effectiveness, profitability, and marketability of the company's solutions; the Company's limited operating history; its reliance on a limited number of customers that continue to account for a high percentage of the Company's revenues; risk of payment failure by any of its large customers, which could significantly harm the Company's cash flows and profitability; the ability of the Company to operate effectively as a public company; future shortage or availability of the supply of employees; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Any projections in this release are based on limited information currently available to us, which is subject to change.
For more information, please contact:
For Investors:
Longtop Financial Technologies Limited
Charles Zhang, CFA
Email: ir@longtop.com
Tel: +86-10-8421-7758
For Media:
IR Inside BV
Caroline Straathof
Email: info@irinside.com
Tel: +31-6-54624301
Source: Longtop Financial Technologies Limited
CONTACT: Investors, Charles Zhang, CFA of Longtop Financial Technologies
Limited, +86-10-8421-7758, ir@longtop.com; or media, Caroline Straathof of IR
Inside BV, +31-6-54624301, info@irinside.com
Perfecto Mobile Extends its Remote Device Testing Service to the Sony Ericsson Developer Community
TEL AVIV, Israel, March 1 -- Developers can now bring applications to life on Sony Ericsson devices and maximize market access to consumers using Perfecto Mobile, a leading provider of remote access and automated testing solutions for mobile devices.
The Perfecto Mobile Handset Cloud service will now be compatible with a range of Sony Ericsson devices in the United States, the United Kingdom, Canada, France and Israel, all of which are available on leading mobile operators' networks.
Mobile and web developers worldwide that join Developer World will receive seven free hours on the Perfecto Mobile Handset Cloud service. Developers are then free to install and test their applications on a variety of Sony Ericsson device models and ensure their applications' compatibility with different platforms and firmware versions.
"Sony Ericsson is dedicated to making it easy for developers to get their applications ready for the marketplace," says Christopher David, Head of Developer and Partner Engagement, Sony Ericsson. "Adding Perfecto Mobile's Handset Cloud service to the tools and services we offer as part of Developer World, will empower mobile and web developers to ensure the highest possible application quality to achieve business success."
"We are delighted to cooperate with Sony Ericsson and offer our services to Sony Ericsson Developer World members," said Eran Yaniv, CEO, Perfecto Mobile. "With a growing variety of exciting new mobile devices, Sony Ericsson keeps drawing the attention of mobile application developers worldwide. We are proud to have been selected by Sony Ericsson to help serve the Developer World community."
About Perfecto Mobile
Perfecto Mobile is global leading provider of remote access and automated testing solutions for mobile devices. The Perfecto Mobile's Handset Cloud service enables developers and testers located anywhere in the world to access, via the Internet, a comprehensive range of the latest mobile handsets. Users can use the Perfecto Mobile handsets to develop, test, deploy and monitor their mobile applications and services.
Perfecto Mobile also provides dedicated Private Handset Cloud systems for mobile operators, handset manufacturers, and independent software vendors. The Perfecto Mobile system provides a secure, online environment where users can access pre-and post-launch handsets for development, testing, and post-deployment service monitoring.
Innotrek's (RMDM) Technology Tested by Chinese Telecom in Guangxi Region
BEIJING, March 1 -- RMD Entertainment Group's (RMDM; http://www.rmdmgroup.com/) subsidiary Innotrek Technology Co. (http://www.innotrek.com/english/page2.html) submitted its technology for detailed technical review to the China Telecom in Guangxi region with which Innotrek signed a Cooperation Agreement.
Innotrek Technology and China Telecom signed a Cooperation Agreement to bring Internet access across the whole Guangxi Region using Innotrek's technology. The Companies signed the agreement at the China-ASEAN Expo in October and the deal has the potential to bring Innotrek revenues in the range of 6 to 10 million USD. Innotrek submitted its technology to the China Telecom engineers who will test and review the compatibility of Innotrek's technology with that of Telecom. This review will help both sides to assess and adapt the technology compatibility.
Mr. Wynn Wang, the RMDM's CEO said, "Technical adjustments are always necessary with projects of this magnitude. Our technology meets international standards and ISO 9000 requirements and the tests should not bring any surprises. We project the revenues from this project in the area of 6 to 10 million USD within the next 12 to 18 months, and we hope that we will be able to proceed with this deal."
Beijing based Innotrek Technology Co., a subsidiary of RMD Entertainment, specializes in research and development of broadband technology, and its 'INet Broadband System' focuses on the Hotel Industry installations. The Innotrek products meet international standards and ISO 9000 requirements.
The company reminds our shareholders and followers to monitor PinkSheets.Com Filing Section and also our IR company web site section "CLIENT SUPPORT" TAB http://www.minamargroup.net or this direct link http://minamarmarketinggroup.helpserve.com/ for further updates on this and other business matters. Non-newsworthy events are not press released however posted on these two separate support sites to keep our followers advised of day-to-day events. For any matters relating to retail investor queries or to send us the company directly a message please click on the "INVESTOR SUPPORT" TAB or this direct link http://www.minamargroup.net/helpdesk.
Filings for this event are currently being reviewed and will be filed with Pink Sheets and Client Support Section in due course. To be included in company's email database for press releases, industry updates, and non-weekly activity at the company that may or may not be news released, please subscribe or opt in mailer at http://www.minamargroup.com/updates.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of RMD Entertainment Group that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. RMD Entertainment Group cautions you that any forward-looking information provided by or on behalf of RMD Entertainment Group is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. RMD Entertainment Group's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond RMD Entertainment Group's control. In addition to those discussed in RMD Entertainment Group's press releases, public filings, and statements by RMD Entertainment Group's management, including, but not limited to, RMD Entertainment Group's estimate of the sufficiency of its existing capital resources, RMD Entertainment Group's ability to raise additional capital to fund future operations, RMD Entertainment Group's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match RMD Entertainment Group's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. RMD Entertainment Group does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Camtek to Present to Investors at the Roth Capital Growth Stock Conference on Tuesday, March 16, 2010
MIGDAL HA'EMEK, Israel, March 1, 2010-- Camtek Ltd. (Nasdaq: CAMT ; TASE: CAMT) announced that it will be
presenting at the 22nd Annual Roth Capital Growth Stock Conference in Laguna
Niguel, California on Tuesday, March 16, 2010.
Camtek's General Manager, Roy Porat will be presenting at 1:00 pm
Pacific Time on Tuesday, March 16, 2010.
A live video webcast of the presentation will be available
live at the "Investor Relations" section of Camtek's Web site at http://www.camtek.co.il.
Camtek's presentation will be available in a few days at
Camtek's Web site under investor corner.
There will also be an opportunity for investors to meet
one-on-one with Roy Porat, General Manager of Camtek, throughout the day.
Interested investors should contact the Investor Relations team at Camtek
and/or the conference organizers at Roth.
ABOUT CAMTEK LTD.
Camtek Ltd provides automated solutions dedicated for
enhancing production processes and yield, enabling our customers new
technologies in three industries; Semiconductors, Printed Circuit Board (PCB)
and IC Substrates.
Camtek addresses the specific needs of these industries with
dedicated solutions based on a wide and advanced platform of technologies
including intelligent imaging, image processing, ion milling and digital
material deposition. Camtek's solutions range from micro-to-nano by applying
its technologies to the industry-specific requirements.
This press release may contain projections or other
forward-looking statements regarding future events or the future performance
of the Company. These statements are only predictions and may change as time
passes. We do not assume any obligation to update that information. Actual
events or results may differ materially from those projected, including as a
result of changing industry and market trends, reduced demand for our
products, the timely development of our new products and their adoption by
the market, increased competition in the industry, price reductions as well
as due to risks identified in the documents filed by the Company with the
SEC.
CAMTEK LTD. IR INTERNATIONAL:
Mira Rosenzweig, CFO Ehud Helft / Kenny Green
Tel: +972-4-604-8308 CCG Investor Relations
Mobile: +972-54-9050703 Tel: (US) +1-646-201-9246
mirar@camtek.co.il camtek@ccgisrael.com
China Information Security Technology to Announce Fourth Quarter and Fiscal Year 2009 Financial Results on March 5, 2010
SHENZHEN, China, March 1 -- China Information Security Technology, Inc. (NASDAQ:CPBY) ("China Information Security," "CIST" or the "Company"), a leading total solutions provider of digital security, GIS and digital hospital information systems in China, today announced that the Company will release its financial results for the fourth quarter and fiscal year ended December 31, 2009, before the market opens on Friday, March 5, 2010.
The Company will host a corresponding conference call and live webcast at 8:00 am Eastern Standard Time (9:00 pm, Beijing time) on Friday, March 5, 2010.
The dial-in details for the live conference call are as follows:
-- U.S. Toll Free Number: +1-866-519-4004
-- International Dial-in Number: +65-6735-7955
-- Mainland China Toll Free Number: 10-800-819-0121
10-400-620-8038
-- Hong Kong Toll Free Number: 80-093-0346
Conference ID: 60234059
A live and archived webcast of the conference call will be available on the Investor Relations section of China Information Security's website at http://www.chinacpby.com/ .
A telephone replay of the call will be available from March 5, 2010 through March 12, 2010.
The dial-in details for the replay are as follows:
-- U.S. Toll Free Number: +1-866-214-5335
-- International Dial-in Number: +61-2-8235-5000
Conference ID: 60234059
About China Information Security Technology, Inc.
China Information Security Technology, Inc., together with its subsidiaries, is a total solution provider of digital security, geographic information, and hospital information systems in the People's Republic of China. Headquartered in Shenzhen, China, the Company's total solutions include specialized software, hardware, systems integration, and related services organized into three business segments - Digital Information Security Technology ("DIST"), Geographic Information Systems ("GIS"), and Digital Hospital Information System ("DHIS"). To learn more about the Company, please visit its corporate website at http://www.chinacpby.com/ .
For further information, please contact:
China Information Security Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: ir@chinacpby.comhttp://www.chinacpby.com/
Christensen
Kathy Li
Tel: +1-480-614-3036
Email: kli@christensenir.com
Roger Hu
Tel: +86-158-1049-5326
Email: rhu@christensenir.com
Source: China Information Security Technology, Inc.
CONTACT: China Information Security Technology, Inc., Iris Yan, +86-755-
8370-4767, or ir@chinacpby.com; or Christensen, Kathy Li, +1-480-614-3036, or
kli@christensenir.com; Roger Hu, +86-158-1049-5326, or rhu@christensenir.com
Carefx Delivers Expert Insights on Health Data Sharing, Collaboration, Quality and Meaningful Use
New position paper available at YourCarefx.com and HIMSS Annual Conference, March 1-4, 2010, in Atlanta (Booth #6008)
SCOTTSDALE, Ariz., March 1 -- Carefx, a leading provider of interoperable workflow solutions, announced today the availability of a new position paper revealing how health IT leaders can advance health information exchange, manage care transitions and close information gaps between systems, departments and facilities through collaboration and clinical quality improvement strategies. The position paper will be available online at http://www.yourcarefx.com/ and at booth (#6008) at the annual Healthcare Information Management and Systems Society (HIMSS) conference, March 1-4, 2010, in Atlanta.
"Focusing on health information exchange, Carefx's HIMSS10 position paper provides a framework for sharing how the company's Fusionfx solution suite delivers actionable, patient-relevant information through the aggregation of data from multiple systems. Fusionfx facilitates health information collection and sharing, as well as care coordination and meaningful use," says Andrew Hurd, Chairman and CEO of Carefx. "This position paper and several forthcoming Issue Briefs reinforce Carefx's commitment to obtain strategic advice from leading health IT experts and create roadmaps for 'simply advancing healthcare' through health information exchange."
Carefx's newest paper - "Health Information Exchange: From Meaningful Use to Healthcare Transformation" - confronts the challenges of health information exchange, medication and allergy reconciliation, quality measurement, monitoring and reporting, collaboration and referral management. Among the experts featured in the new paper, and soon-to-be-released Issue Briefs, are Marc Holland, President and Managing Director, System Research Services; Lynne Dunbrack, Program Director, Health Provider Research, IDC Health Insights; David Hansen, healthcare consultant, economist, entrepreneur and author; Jennifer Covich Bordenick, CEO, eHealth Initiative; and Barry Runyon, Research Vice President, Gartner Research.
The position paper predicts that clinicians will soon be able to view real-time patient data - demographics, compliance, patient safety and quality - from a variety of sources in a single view with real-time quality compliance alerts, medication reconciliation and electronic referral. This enhances clinicians' ability to keep tabs on patients and make more accurate, evidence-based clinical decisions. Ultimately, however, the quality of health information exchange is likely to depend on the creativity and commitment of those who exchange data and require "cultural change, communication, conflict resolution and care coordination and re-design," according to the paper.
In the coming months, Carefx will release an Issue Brief on electronic referral management, revealing how providers can transform a burdensome, paper-based process into a streamlined workflow that enables physician collaboration, improves quality and safety and increases referral revenues. A second Issue Brief on medication reconciliation will demonstrate why providers must close medication loops at key care transitions, including reconciliation of a patient's discharge medications into the ambulatory electronic medical record (EMR).
About Carefx Corporation
Carefx supports healthcare organizations in achieving their vision of advancing the quality and safety of patient care delivery through its Fusionfx suite of interoperable workflow solutions. Fusionfx streamlines and simplifies clinical and business workflow and connects care providers to the information they need - where, when, and how they need it. By managing care transitions and information gaps between diverse systems, departments and facilities, Fusionfx delivers crucial patient information with speed, efficiency and logic. Carefx supports more than 700 hospitals, health systems, regional health information organizations (RHIOs) and health information exchanges (HIEs) across North America and Europe.
For more information, visit yourcarefx.com, http://www.carefx.com, contact us at (480) 833-5010 or email info@carefx.com.
Source: Carefx Corporation
CONTACT: Christopher Capot, KNB Communications, +1-212-505-2441, or
+1-203-379-8019 (mobile), ccapot@knbpr.com
STMicroelectronics Delivers 90nm STM32 MCU with Unique Flash Accelerator for Extra Performance Boost
STM32 embedded Flash performance gets double boost with 90nm production availability and Adaptive Real-Time accelerator enabling zero-wait program execution up to 120MHz
GENEVA, March 1 -- STMicroelectronics (NYSE:STM), a world leader in microcontrollers, has announced two significant advances that further improve the performance and power consumption of its successful STM32 family: availability of production devices featuring embedded Flash at 90nm process technology; and the industry's first Adaptive Real-Time (ART) memory accelerator optimized for the STM32's industry-standard ARMĀ® Cortex(TM)-M3 processor.
The first production STM32 microcontrollers leveraging ST's 90nm embedded Flash technology, which is already proven in smart card and automotive ICs, deliver faster operation, increased peripheral integration, lower power consumption, and increased on-chip memory densities. ST announced it was sampling these devices in 2009.
The proprietary ART memory accelerator balances the inherent performance advantage of the ARM Cortex-M3 over Flash memory technologies, which normally requires the processor to wait for the Flash at higher operating frequencies. The CPU can now operate up to 120MHz without waiting, thereby increasing overall system speed and efficiency.
To release the processor's full 150 DMIPS performance at this frequency the accelerator implements an instruction pre-fetch queue and branch cache, enabling program execution from Flash at up to 120MHz with zero wait states. Competing Cortex-M3 MCUs can now only outperform the STM32 by operating at frequencies above 120MHz, which will increase power consumption and heat dissipation.
With this performance now available, developers can host extra elements of a system on the microcontroller, saving the need to use a more expensive microcontroller or a companion DSP. An example is in multimedia applications, where customers will be able to implement an audio codec, video processing functions, data encryption, digital filtering, and a multi-protocol gateway, with sufficient remaining resources to manage other tasks.
The latest STM32 variants benefiting from the 90nm process and the ART memory accelerator have been verified according to CoreMark(TM) tests created by the Embedded Microprocessor Benchmark Consortium. CoreMark results verify the STM32 executes 8% faster than Cortex-M competitors at 100MHz clock speed. The performance advantage is greater still at 120MHz. CoreMark analysis also confirms dynamic power consumption of only 188mA/MHz (98mA/CoreMark). This is equivalent to drawing 22.5mA at 120MHz (executing from Flash memory, with ART accelerator enabled and all peripherals off).
The new 90nm devices featuring the ART memory accelerator are sampling at lead customers. Product details will be announced later this year.
About the STM32 family
The enhancements announced today extend the advantages of the industry's most extensive Cortex-M3 microcontroller portfolio, which now includes over 110 devices. All STM32 family members are pin-to-pin and software compatible, and share from a common pool of peripherals to facilitate design scalability and efficient, platform-based product development.
Available STM32 product lines now include the STM32 Value Line, STM32 Access Line, and STM32 Performance Line. Additional enhancements include the STM32 Access USB Line featuring additional connectivity and the STM32 Connectivity Line supporting USB OTG, Ethernet and dual CAN interfaces. On-chip Flash densities range from 16Kbytes to 1Mbyte, SRAM densities from 4KBytes to 96KBytes, and surface-mount package styles from 36-pin QFN to 144-pin LQFP or BGA packages. High-performance on-chip peripherals span interface, conversion, timing, and supervisory features including watchdog and reset functions.
About STMicroelectronics
STMicroelectronics is a global leader serving customers across the spectrum of electronics applications with innovative semiconductor solutions. ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and combination of intellectual property portfolio, strategic partnerships and manufacturing strength. In 2009, the Company's net revenues were $8.51 billion. Further information on ST can be found at http://www.st.com.
Source: STMicroelectronics
CONTACT: Michael Markowitz of STMicroelectronics, +1-781-591-0354,
michael.markowitz@st.com
UTStarcom Appoints Jack Lu as Chief Operating Officer
ALAMEDA, Calif., March 1 -- UTStarcom, Inc. (NASDAQ:UTSI) today announced the appointment of Jack Lu to Chief Operating Officer effective immediately. He will oversee the broadband business unit, multimedia communication business unit, global supply chain and China sales and marketing functions. He will report directly to Peter Blackmore, Chief Executive Officer and President of UTStarcom.
"I am extremely excited to have Jack join UTStarcom's executive leadership team as he brings a wealth of experience and knowledge," said Peter Blackmore, Chief Executive Officer and President of UTStarcom. "Jack's start date is earlier than we had planned and I applaud Jack's commitment to start as soon as he could. He will further strengthen our China management team, build upon our momentum in China and his leadership will be instrumental in driving the Company's long-term growth."
Jack brings more than 25 years of experience in telecom, opto-electronic components and investment project management in a multinational environment. Jack recently served as Co-Chief Operating Officer and General Manager, China at Source Photonics, a leading global opto-electronic component company. Prior to Source Photonics he held numerous positions at Fiberxon, which was sold to MRV Communications Inc. in July 2007, including Chief Executive Officer, Chief Operations Officer and Vice President of Marketing and Sales. Prior to joining Fiberxon in September 2001, Mr. Lu worked for US Business Networks Inc. (MeetChina.com) as Director of Business Strategy Development from March 2000 to May 2001, and China National Technical Import and Export Corporation in a number of management positions from May 1988 to July 1998. Mr. Lu holds a Bachelor of Science degree in Electronic Engineering from Huazhong University of Science and Technology and an M.B.A. from the University of Southern California.
About UTStarcom, Inc.
UTStarcom is a global leader in IP-based, end-to-end networking solutions and international service and support. The Company sells its solutions to operators in both emerging and established telecommunications markets around the world. UTStarcom enables its customers to rapidly deploy revenue-generating access services using their existing infrastructure, while providing a migration path to cost-efficient, end-to-end IP networks. The Company was founded in 1991 and is headquartered in Alameda, California. For more information about UTStarcom, visit the Company's Web site at http://www.utstar.com/.
CellTrust Corporation Announces Partnership Strategy with Healthcare Provider Portals at HIMSS 2010
Initiative Will Accelerate Delivery of HIPAA-Compliant, Secure Mobile Messaging to Hospitals, Medical Answering Services, Pharmacies, Insurance and Pharmaceutical Companies
ATLANTA and SCOTTSDALE, Ariz., March 1 -- CellTrust Corporation, the world's largest provider of SecureSMS for mobile phones (http://www.celltrust.com), announced today its strategy to partner with Healthcare Provider Portals to bring secure mobile messaging solutions to companies across the healthcare industry, by the third quarter of 2010.
Ease of use and speed have made SMS the most popular communication tool on the handset today, eclipsing the volume of phone calls daily. But unfortunately, standard SMS is in clear text and is not encrypted, so it is not HIPAA-compliant. In booth #2317 at HIMSS, CellTrust's Secure Mobile Healthcare team will showcase the company's secure mobile healthcare solution, which turns standard SMS into a powerful, HIPAA-compliant tool, enabling healthcare organizations and vendors to communicate patient data via secure text messaging to clinicians' and patients' mobile devices. Over the next few months, CellTrust will work to integrate its SecureSMS technology into the existing solutions of the nation's leading Healthcare Provider Portals.
"Our Secure Health Messaging solution solves the challenge that exists today in providing secure, two-way communication for Protected Health Information (PHI) between healthcare organizations, providers and patients," said Sean Moshir, Chairman and CEO of CellTrust. "A growing number of healthcare organizations are developing provider portals to improve communication with healthcare providers and we view partnerships with these portals as the fastest way to accelerate the delivery of a much-needed secure health messaging solution to the industry."
CellTrust's Secure Mobile Healthcare application suite is built on highly encrypted, HIPAA compliant SecureSMS text messaging technology that enhances delivery of real-time Protected Health Information (PHI) to healthcare providers', payers' and patients' mobile devices via SMS. The suite enhances the three core National Health IT initiatives - electronic medical data management, cost reduction and coordinated patient care.
CellTrust SecureSMS(TM) Appliance was selected winner of 2009 Best Enterprise Enabler Application for the RCR Ecosystem Awards. In 2008 CellTrust Secure SMS won the Communications Solutions Product of the Year Award and was voted Best Messaging Security Solution by the Info Security Products Guide's Tomorrow Technology Today Award. SecureSMS was accredited as a finalist for the Third Annual CTIA Emerging Technology Award, and was named the winner of three Mobile Star Awards, and the prestigious Mobile Marketing Association 2008 Global Relationship Building Award.
About CellTrust Corporation
CellTrust is a leading provider of secure mobile messaging and applications. CellTrust's patent pending SecureSMS Gateway(TM) featuring the SecureSMS(TM) Appliance and a suite of mobile applications provide advanced secure mobile messaging and information management across 200+ countries and over 800 carriers. CellTrust ensures the secure and trusted exchange of information on mobile devices to the financial services, healthcare, government, education, energy, information technology, marketing, and travel, among other global industries. For more information about CellTrust's Global, African, North American and Australian operations: http://www.celltrust.com www.africa.celltrust.com www.celltrust.com.au
Health IT has been described as "information technology applications specifically designed for the practice of clinical medicine, including electronic health records (EHRs), personal health records, health information exchange, computerized physician order entry, clinical decision support systems, and electronic prescribing." Proponents contend that its widespread adoption will not only slow health care spending, but that it will eventually "improve the quality of care provided to patients by improving the information available to clinicians at the time of treatment, by encouraging the use of evidence-based medicine, and by helping physicians manage patients with complex, chronic conditions." Source: United States Congressional Budget Office, "Budget Options, Volume I, Health Care," December 2008.
Media Contact:
Lora Friedrichsen
Global Results Comms (GRC) for CellTrust
+1 949-608-0276
celltrust@globalresultspr.com
Source: CellTrust Corporation
CONTACT: Lora Friedrichsen of Global Results Comms (GRC),
+1-949-608-0276, celltrust@globalresultspr.com, for CellTrust
Parascript Announces New Release of Check Recognition and Verification Software for Argentina
- Parascript CheckPlus International offers improved courtesy and legal amount recognition accuracy for processing of Argentinean checks; also available for Australian, Brazilian, Canadian, French, Indian and Portuguese check images -
BOULDER, Colo., and KISSIMMEE, Fla., March 1 -- BAI Payments Connect, Booth 619 - Parascript, LLC, the image analysis and pattern recognition technology provider, today announced the release of CheckPlus International for Argentina. CheckPlus International for Argentina reads the courtesy amount, legal amount and MICR (Magnetic Ink Character Recognition) line on checks, enabling banks to minimize cost and labor associated with check processing.
CheckPlus International for Argentina can now process the entire stream of documents for Proof-of-Deposit (POD) and remittance applications including machine printed and handwritten Argentinean checks. During the amount recognition process, CheckPlus International for Argentina cross-validates the courtesy and legal amounts to ensure the highest recognition rates. CheckPlus International has been successfully implemented in Brazil, Portugal, France, and India, among other markets.
"Parascript is proud to bring our best-of-breed recognition technology to the Argentinean check processing market," said Mike Fenton, vice president of sales and operations for Parascript. "The need to reduce costs is shared worldwide, and we are constantly working to expand our product offerings."
According to Argentina's Central Bank (Banco Central de la Republica Argentina), approximately 91 million checks were processed in 2009. 75 percent of those checks were transferred into electronic images of their original paper counterparts to facilitate collection or return through the check-clearing network.
About Parascript, LLC
The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection, and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government, and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Bowe Bell + Howell, CheckFree - now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens, and Unisys. Parascript is online at http://www.parascript.com/.
Source: Parascript, LLC
CONTACT: Claudette Allingham of Parascript, LLC, +1-303-381-3100,
claudette.allingham@parascript.com; or Hilary McCarthy, +1-508-829-2543,
hilary.mccarthy@zenzi.com, of Zenzi for Parascript, LLC
VeriFinger from Neurotechnology Provides Fingerprint Verification for Poland's New Biometric Passport System
VeriFinger is Now Used in All Polish Passport Offices for Biometric Passport Application, Generation and Issuance Processes
VILNIUS, Lithuania, March 1 -- Neurotechnology (http://www.neurotechnology.com/), a provider of high-precision biometric identification technologies, announced today that VeriFinger was selected to be the fingerprint verification engine for Poland's new biometric passport system. Now implemented in more than 130 passport offices throughout the country, VeriFinger provides reliable 1:1 fingerprint verification at each stage of the passport application, generation and issuance process. Passport producer Polish Security Printing Works (Polska Wytwornia Papierow Wartosciowych S.A. or PWPW) selected the VeriFinger Software Development Kit (SDK) for its combination of high accuracy, very fast matching and the flexibility to work with a wide variety of programming languages and software platforms. Competitive pricing and flexible licensing options from Neurotechnology enabled PWPW to quickly obtain, develop and implement the VeriFinger technology in the new biometric passport system.
"Poland's biometric passport verification is a very important and practical use for our VeriFinger technology," said Dr. Algimantas Malickas, CEO of Neurotechnology. "We are pleased that Polish Security Printing Works explored the advantages provided by VeriFinger and decided to implement it for this project."
All new biometric passports issued by the Polish government are equipped with a contactless microprocessor chip that stores the passport holder's biometric fingerprint information. VeriFinger is used in two stages of the passport issuance process:
-- Application - When an applicant provides a fingerprint image,
VeriFinger is used to provide a quality score that determines if the
image quality is high enough for use in the biometric passport chip.
-- Final Verification and Issuance - When the applicant comes in to
receive his or her passport, the applicant enrolls the same set of
fingerprints and VeriFinger is used to compare the new fingerprint
images with those contained in the passport chip. If the match is
verified, the new biometric passport is issued to the applicant.
VeriFinger SDK fingerprint identification technology is available for the development of PC- and Web-based solutions on Microsoft Windows, Linux and Mac OS X platforms. VeriFinger supports multiple scanners and programming languages and works with databases of unlimited size, assuring system performance with fast, reliable fingerprint matching in 1-to-1 and 1-to-many modes. The VeriFinger algorithm has been incorporated in more than 1000 end-user product brands in 98 countries over the past 11 years. VeriFinger includes a NIST MINEX- certified algorithm which consistently has won Fingerprint Verification Competition (FVC) and FpVTE awards since 2000. VeriFinger is capable of fast matching with high reliability and is highly tolerant of rolled and flat fingerprint captures as well as translation, rotation and deformation of the fingerprint image.
The Software Development Kit for VeriFinger, as well as other award-winning biometric technologies from Neurotechnology (including MegaMatcher for large-scale AFIS and multi-biometric systems, VeriLook for facial recognition and VeriEye for iris recognition), are available with highly competitive licensing options through Neurotechnology or from distributors worldwide. 30-day trial versions with full functionality are also available for download. For more information, go to: http://www.neurotechnology.com/.
About Neurotechnology
Neurotechnology is a provider of high-precision biometric fingerprint, face, iris and palmprint identification algorithms, object recognition technology and software development products. More than 2000 system integrators, security companies and hardware providers integrate Neurotechnology's algorithms into their products. With millions of customer installations worldwide, Neurotechnology's products are used for both civil and forensic applications, including border crossings, criminal investigations, systems for voter registration, verification and duplication checking, passport issuance and other national-scale projects.
Neurotechnology's identification algorithms have consistently earned the highest honors in some of the industry's most rigorous competitions, including the National Institute of Standards and Technology (NIST)'s Fingerprint Vendor Technology Evaluation (FpVTE) and the Fingerprint Verification Competitions (FVC).
Drawing from years of academic research in the fields of neuroinformatics, image processing and pattern recognition, Neurotechnology was founded in 1990 in Vilnius, Lithuania and released its first fingerprint identification system in 1991. Since that time the company has released more than 60 products and version upgrades for identification and verification of objects and personal identity.
Media Contact:
Jennifer Allen Newton
Bluehouse Consulting Group, Inc.
+1-503-805-7540
Jennifer (at) bluehousecg.com
Source: Neurotechnology
CONTACT: Jennifer Allen Newton of Bluehouse Consulting Group, Inc.,
+1-503-805-7540, Jennifer(at)bluehousecg.com, for Neurotechnology
Officers of Quanta Services to Report the Withholding of Shares
HOUSTON, March 1 -- Quanta Services, Inc. (NYSE: PWR) today announced that certain of its executive officers will submit Form 4 filings by tomorrow pursuant to Section 16 of the Securities Exchange Act of 1934.
Under Quanta's 2001 Stock Incentive Plan and 2007 Stock Incentive Plan, certain of its employees, including certain executive officers, previously received restricted stock awards, a portion of which vested on February 28, 2010. These awards for Quanta's executive officers were previously reported on Form 4 filings. Pursuant to the Plans, employees may elect to satisfy their tax withholding obligations upon vesting by having Quanta make the tax payments and withhold a number of vested shares having a value on the date of vesting equal to the employee's tax withholding obligation. As a result of employee elections, Quanta withheld shares of stock from certain of its executive officers to satisfy their tax obligations. The Form 4 filings will report as "dispositions" the number of shares withheld by Quanta and will reflect that the dispositions are exempt transactions in accordance with Rule 16b-3 under the Exchange Act.
Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, natural gas and pipeline and telecommunication industries. The company's comprehensive services include designing, installing, repairing and maintaining network infrastructure nationwide. Additionally, Quanta licenses point-to-point fiber optic telecommunications infrastructure in select markets and offers related design, procurement, construction and maintenance services. With operations throughout North America, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope.
Contacts: James Haddox, CFO Ken Dennard / ksdennard@drg-e.com
Reba Reid Kip Rupp / krupp@drg-e.com
Quanta Services, Inc. DRG&E
713-629-7600 713-529-6600
Source: Quanta Services, Inc.
CONTACT: James Haddox, CFO, or Reba Reid, both of Quanta Services, Inc.,
+1-713-629-7600; or Ken Dennard, ksdennard@drg-e.com, or Kip Rupp,
krupp@drg-e.com, both of DRG&E, +1-713-529-6600, for Quanta Services, Inc.
freeHAMPreport.com Selects TransMedia to Publicize Launch of the Site that will Resuscitate President Obama's Home Affordable Modification Program (HAMP)
FT. LAUDERDALE, Fla., March 1 -- TransMedia Group (http://www.transmediagroup.com) announced today that it has been retained by freeHAMPreport.com (http://www.freeHAMPreport.com), the free site that determines a person's eligibility for the Home Affordable Modification Program (HAMP).
freeHAMPreport.com has chosen TransMedia Group to plan and implement a full-scale publicity campaign to build excitement with the general public about a technology designed to provide a free eligibility test and to simplify the HAMP process.
"President Barack Obama's $75 billion HAMP program was created to slow the record wave of foreclosures, but problems with incorrectly submitted paperwork and staffing shortages at lenders have made it a near failure," said Glen Calder, President of TransMedia Group. "That's why we are so excited about introducing freeHAMPreport to the media and the public, as it will make the process easier for the homeowner, lender and government. A process that used to take weeks to do by yourself or with a lawyer, now can literally be completed in 15 minutes."
TransMedia will highlight freeHAMPreport.com's team of industry experts, the speed of the process and its commitment free procedure. "While other free reports out there aren't entirely free, there is no charge or commitment to see if you're eligible for the HAMP," said Allison McCormick, Publicity Assistant for TransMedia Group. "If you are eligible and want to use the site to create the report, then with the click of a button a complete lender ready custom package can be automatically populated in minutes, each including a complete proposal, client checklist, as well as all Federal HAMP and lender specific forms required."
"When we decided on choosing a PR firm that could cut through all the confusion of the HAMP program by generating tremendous buzz for freeHAMPreport.com, we immediately went to TransMedia Group," said Jonathon Ende, CEO of freeHAMPreport.com. "They will help us accomplish our mission to share our great website as the guiding light for loan modifications which will allow struggling homeowners to help save their homes and their families."
TransMedia Group is a full-service public relations firm serving clients worldwide since 1981. The firm is based in Boca Raton, FL and has offices in New York and London.
Media Contact:
Allison McCormick
(561) 750-9800 ext. 222
Allison@transmediagroup.com
Source: TransMedia Group
CONTACT: Allison McCormick of TransMedia Group, +1-561-750-9800 ext.
222, Allison@transmediagroup.com
Gold Standard/Elsevier Launches Clinical Pharmacology Mobile
TAMPA, Florida, March 1, 2010--
- Reference Tool Puts Real-Time, Evidence-Based Drug Information
Onto Mobile Devices at the Point of Care
- Test Drive Clinical Pharmacology Mobile at HIMSS10
Gold Standard/Elsevier (http://www.goldstandard.com), a
leading provider of drug decision support announced today the availability of
Clinical Pharmacology Mobile, a mobile device-optimized web site offering
users access to the features and functions of Clinical Pharmacology, an
award-winning electronic drug information and medication management
reference. Experience Clinical Pharmacology Mobile at the HIMSS (Healthcare
Information Management Systems Society) annual meeting, March 1-4, 2010, in
Atlanta (Elsevier's Booth #6503/6509).
"Clinical Pharmacology Mobile provides healthcare
professionals and students with reliable, need-to-know drug information when
and where they need it. We've built a mobile version looking to the future
and to our customers' emerging needs," said Kathy Vieson, PharmD, BCOP, Vice
President and Director of Clinical Drug References for Gold
Standard/Elsevier. "The release of Clinical Pharmacology Mobile reflects Gold
Standard's commitment to provide quality drug information and accurate
answers to point-of-care questions with enhanced speed, ease and
convenience."
Focused on supporting routine medication information needs,
Clinical Pharmacology Mobile allows users to search by trade or generic drug
name, indication, contraindication/precaution or adverse reaction, and to
browse by monograph or classification. Clinicians can access drug monographs,
multi-drug interaction reports, MedCounselor consumer medication information,
drug product information, drug images and clinical calculators. In addition,
users can purchase supplemental modules such as Drug IDentifier/NDC Search,
IV Compatibility information and reports via Trissel's 2 Database, Global
Drug Name Directory, FormChecker hospital formulary management and
OnFormulary health plan formularies.
The Clinical Pharmacology Mobile web site is supported on
devices that use standard browsers, such as the iPhone/iPod Touch, BlackBerry
devices, T Mobile G1 and Nokia N85, and runs on the Apple, RIM, Android,
Symbian, and Windows Mobile 6 operating systems.
"With nothing to download, no synching required and continuous
updating, Clinical Pharmacology Mobile provides users with the most timely,
accurate and reliable drug information available," says Vieson. "By adding
Clinical Pharmacology Mobile to our drug reference suite, our goal is to
ensure our customers have the content they need at every access point, be
that online, in their workflow systems and now on their mobile devices."
The number of cell phone subscriptions across the globe will
hit 5 billion sometime in 2010, precipitated in part by the demand for mobile
healthcare services, according to the International Telecommunication Union.
McKinsey & Company projects that the global mobile health opportunity could
be worth more than $60 billion, while Mobile Health Initiative founder Peter
Waegemann predicts a mobile health revolution where publishers move
scientific knowledge "from books to apps."
About Gold Standard
Based in Tampa, FL, Gold Standard/Elsevier uses innovative
technologies to provide a complete suite of drug information and decision
support solutions. With a tenacious commitment to product quality, Gold
Standard/Elsevier solutions empower healthcare organizations, professionals
and consumers to meet the most pressing healthcare challenges, improve
patient safety and ensure optimal outcomes. To learn more about Gold
Standard/Elsevier, visit http://www.goldstandard.com.
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).
Tom Reller
VP, Global Corporate Relations, Elsevier
+1-215-239-3508
T.Reller@elsevier.com
FORT LAUDERDALE, Fla., March 1 -- For home and garden do-it-yourself projects and organizational efforts, having the right tools on hand is a must. "High quality gear is key to easing and expediting repairs, clutter control and other fix-it projects around the house, both inside and out," notes Christina Hansen, a product specialist for CableOrganizer.com (http://cableorganizer.com/) - a leading provider of hand tools and wire management solutions.
Hansen spotlights this assortment of animal-inspired "killer tools" CableOrganizer.com offers, each sure to take a bite out of your home or garden DIY project:
Cable Snake(TM)
Cables, although necessary, can be messy, unsightly and unsafe. This cable organizer will change the look of connective wires. No longer will your feet get tangled in your computer cables. No longer will the cables on your computer or stereo ruin the decor of a room. In fact, the Cable Snake may just enhance it! Made of rugged outdoor fabric, this device easily cinches together with hook and loop type fasteners and locks at each end to prevent slippage. ($9.99)
IDEAL Master Lock Python Kit
Secure your bicycles, lawn furniture, computers, generators, or pickup truck storage - anything can be tethered within its grasp. Its flexible 6 foot steel braided cable may be pulled tight and configured in any position, allowing for a multitude of uses around the home's interior or exterior. Weather resistant lock is also interchangeable with different cables, and the cylinder may be re-keyed if necessary. ($33.25)
Animal Clip Cord Keepers
While not exactly menacing, these "killer" Animal Clips make your workspace a fun and functional place to be, holding everything from computer cords to pencils. There is an entire zoo's worth of cute and quirky creatures to choose from. With 30 different available designs, you're sure to find one that makes you and passersby smile, including: Banzai the Raptor, Rex the T-Rex, Chomp the Shark, Wally the Gator, Leroy the Lion, Lefty the Tiger and Spike the Wolf. ($0.55)
PowerSquid(TM) Surge Protector
Keep computers, printers and routers powered - and protect them from power surges at the same time - with the PowerSquid Surge Protector. This power supply/surge suppressor combo features a creative and super-functional design that works great in tight spaces, easily accommodates bulky adapters, and even includes telephone/DSL line protection. ($16.65)
Gorilla(TM) Double Thick Adhesive Tape
All the brute strength of its namesake, but in a much smaller (and easier to handle) package. For outdoor repairs, all-weather Gorilla Tape fills gaps on uneven surfaces for a grip that won't let go, even in tough conditions. And when it comes to bonding plastic, glass, wood and metal, Gorilla Super Glue doesn't monkey around: it forms an impact-proof seal that dries in under a minute, no clamps required. ($4.93)
Consumers may order these and other "killer tools" online at http://cableorganizer.com/ or via toll-free telephone at 1-866-222-0030.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link.
TI introduces highly-integrated, cost-effective RF range extender for low-power wireless applications at 850- to 950-MHz frequency range
Device works with TI's leading portfolio of sub-1 GHz transceivers, transmitters and systems-on-chip
DALLAS, March 1 -- Texas Instruments Incorporated (TI) (NYSE: TXN) today introduced a highly-integrated, cost-effective radio frequency (RF) range extender for low-power wireless applications at 850 to 950 MHz, such as wireless sensor networks, automatic meter reading (AMR), and wireless industrial controls, consumer and audio systems. The single-chip CC1190 integrates a power amplifier (PA), a low-noise amplifier (LNA), switches and RF matching, which eliminates expensive discrete components, simplifies design layout, reduces test time, improves RF performance and shrinks overall board space. For more product information: http://www.ti.com/cc1190-pr.
The CC1190 works with TI's CC1101 sub-1 GHz transceiver and the CC430 or CC1110 systems-on-chip. The CC1190+CC1101 solution can provide up to +149-dB link budget. Customers that need to extend the range of their existing industrial sensors or utility energy meters will be able to eliminate repeaters or routers, reducing overall system costs.
Key features and benefits
-- Increases link budget by providing a power amplifier for increased
output power, and an LNA with low noise figure for improved receiver
sensitivity.
-- Integration of power amplifier, low-noise amplifier, switches and RF
matching reduces product design cycle.
-- Seamless interface to sub-1 GHz low-power RF devices from TI.
-- Up to 27-dBm (0.5 W) output power.
-- 6-dB typical sensitivity improvement with CC11xx and CC430.
-- TI delivers industry-leading hardware, best-in-class software, tools,
application knowledge and worldwide technical support to help
low-power RF designers differentiate their wireless designs.
CC1190 packaging and availability
The CC1190 is available now from TI and its authorized distributors in a ROHS-compliant, 4-mm x 4-mm QFN-16 package. Suggested resale pricing starts at $2.10 in 1,000-piece quantities.
Start development today with the CC1190EMK evaluation module kit priced at only $99.00 (US$). CC1190. Standalone evaluation kits are available now and combo boards with a transceiver and CC1190 will be available 2Q 2010.
Texas Instruments (NYSE:TXN) helps customers solve problems and develop new electronics that make the world smarter, healthier, safer, greener and more fun. A global semiconductor company, TI innovates through manufacturing, design and sales operations in more than 30 countries. For more information, go to http://www.ti.com
CONTACT: Brett Schroer of Texas Instruments, +1-520-750-2072,
schroer_brett@ti.com; or Kim LaFleur of GolinHarris, +1-972-341-2516,
klafleur@golinharris.com, Please do not publish these numbers or e-mail
addresses.
Stuart Varrall of Fluid Pixel Wins National DediPower Digital Awards
READING, England, March 1, 2010--
- Stephen Timms, MP, Minister for Digital Britain, Presents Trophy in
London
Stuart Varrall of Fluid Pixel has won the coveted DediPower Digital Award
2010. The trophy was presented by Rt Hon Stephen Timms, MP, Minister for
Digital Britain, at a special ceremony in London, today.
Fluid Pixel, a business offering innovative applications, games and
interfaces for mobile phones, the web and desktops won the first prize worth
over GBP50,000, after entries from across the UK flooded in.
The Rt Hon Stephen Timms, MP, Minister for Digital Britain, Department of
Business, Innovation and Skills (BIS), handed over the DediPower Digital
Award trophy at the European e-Skills Week opening UK conference on Monday
1st March.
He said: "It is always a pleasure to recognise and see business ideas
rewarded, and e-skills week is the perfect background to learn about new and
innovative ideas.
"I understand the competition for this award was exceptionally tough, and
I congratulate Stuart on his winning entry, which stood out for its great
potential both commercially and socially."
A special "Judges' Special Award" was won by Claire Watt-Smith of BoBelle
for an excellent entry, displaying a multichannel strategy to-go-to market
and creativity.
A further "Honourable Mention" award was claimed by Sarah Chester of
Chester Charms.
Stuart Varrall commented: "It feels great to have been recognised for the
work we've done at Fluid Pixel. It was a privilege to have been shortlisted
along with the other excellent companies and to have won the award is a real
honour. We're really excited about the whole prize package and especially
looking forward to getting involved in the mentoring process. Fluid Pixel is
currently expanding so this award comes at a perfect time for us to continue
to develop the company."
The DediPower Digital Award first prize is up to GBP25,000 cash
investment, plus GBP2,000 in development funds and a further GBP25,000 worth
of business mentoring & free Internet hosting.
Craig Martin, CEO, DediPower Managed Hosting and Chairman of the judging
panel said: "The first year of the awards has been a huge success. One of the
aims was to highlight the excellent young talent in Britain and to aid young
people aged 17 to 30 years with getting a good idea off the ground. It is
often hard to know where to turn if you have entrepreneurial spirit and a
commercial idea. Now, I am looking forward to playing a personal role in
making Fluid Pixel business a great success in the future."
The four finalists were:
- Claire Watt-Smith, Aged 26, for BoBelle
- Anita Moss and Paul Norman, both aged 28, for First Tutors
- Stuart Varrall, Aged 27, for Fluid Pixel
- Andrew Fidler and Gordon Bennell, both aged 28, for Student Aid
The final judging had been at the Telegraph Media Group headquarters, in
London, on Wednesday, 24th February, when finalists presented their idea and
business plan to a panel of judges which included:
- Kamal Ahmed, Business Editor, The Sunday Telegraph
- Catherine Doran, Director of Corporate Development, Network Rail
- Karen Price, CEO, e-skills UK
- Craig Martin, CEO, DediPower Managed Hosting
Karen Price, Chief Executive of e-skills UK, said: "e-skills UK is keen
to recognise the talent and entrepreneurial spirit in young people within the
IT sector. We are pleased to have been involved in this awards process with
DediPower and I was delighted to be on the judging panel. DediPower is one of
the many companies supporting e-skills UK's work in the area of Higher
Education and we are grateful for the role this competition has played in
inspiring more young people to consider careers in IT."
BoBelle Ltd, entered by Claire Watt-Smith (age 26), is a retailer and
wholesaler of ethically handmade Eel skin leather fashion accessories. It
incorporates style, fashion and luxury with ethics and affordability.
First Tutors, entered by Anita Moss (28) and Paul Norman (28), helps
families and adult learners to find private tutors. The web site uniquely
features previous client feedback on the 10,000 tutors listed from across the
UK.
Fluid Pixel Ltd, entered by Stuart Varrall (27), is a media development
studio specialising in mobile devices, dedicated to Flash Lite and iphone
platforms. It offers innovative applications, games and interfaces for mobile
phones, the web and desktop computers on a customised basis.
Student Aid, entered by Andrew Fidler (28) and Gordon Bennell (28), is an
engaging media information service for university students, parents and staff
and aims to be the "voice of the student market". Student-aid.co.uk provides
a localised portal for student life and provides digital and offline media
channels to universities for interaction with students and staff.
e-skills UK is the Sector Skills Council for Business and Information
Technology, rated 'outstanding' in the relicensing of Sector Skills Councils
in 2009. We work on behalf of employers to ensure the UK has the technology
skills it needs to succeed in a global digital economy. Our work covers
software, internet & web, IT services, telecommunications and business
change. Visit http://www.eskills.com .
About DediPower Managed Hosting:
DediPower is a leading UK provider of managed hosting and data centre
solutions, making the internet and eBusiness innovation a reality for
businesses of all sizes. Focused on delivering service excellence through our
Support with Passion(R) philosophy, DediPower's enterprise class data centres
support business critical applications. Providing innovative solutions and
expertise in dedicated managed hosting, virtualisation, multi-server
clusters, security, business continuity and co-location services. DediPower
is a winner of numerous hosting awards and is a Microsoft Gold certified
partner and RedHat Ready hosting partner. DediPower's headquarters is located
in Reading Berkshire, UK. For additional information, call 0870 252-3600 or
visit http://www.dedipower.com and keep up to date with DediPower via
Twitter, twitter.com/dedipower.
AUO to Showcase Its Competitive Edge in the Solar Industry Value Chain at Japan's PV EXPO
HSINCHU, Taiwan, March 1 -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) will exhibit at PV EXPO 2010 in Tokyo Big Sight, Japan from March 3-5 to showcase its competitive edge in the solar industry value chain. High quality polysilicon, ingots and wafers produced by M.Setek and high-efficiency mono-crystalline and multi-crystalline PV modules from AUO will be on display.
The PV EXPO in Japan is one of the most noted professional PV trade shows in the world, as well as the most important business platform of the Asian PV industry. There are 570 exhibitors worldwide participating this year, displaying a full range of technologies for materials, equipment, solar cells and modules, photovoltaic systems and integration schemes. It is a must-attend event for vendors who wish to break into the Japanese and Asian PV markets.
AUO will be exhibiting the high-efficient module Mono 245W, which is capable of generating more power on space-limited rooftops with an impressive conversion rate of 14.7%. It weighs merely 20kg, around 15% lighter than modules of the same size in the market, and is also easy to install. Customers have their options of choosing black or white colored modules to match the designs of their buildings.
In its energy business, AUO has both the quality key materials from M.Setek in the upstream and photovoltaic system projects in the downstream to provide the most competitive total solution. Therefore, the company will exhibit quality material with high conversion rates at the PV EXPO to demonstrate its strategic position in the integration of the solar industry supply chain.
Being a major supplier to renowned solar cell companies around the world, M.Setek boasts leading technologies in Japan for upstream polysilicon and wafers with high conversion rates. It is one of the few global suppliers that can provide high quality and high-efficiency solar wafers. The Company is also among the first to employ diamond wire sawing and is capable of mass production. The technology helps increase conversion rates, eliminate the use of organic solvents to ensure eco-friendly production, and maintain cost competitiveness. M.Setek is also equipped with the technologies to fully recycle its materials, to take their share of responsibility in carbon balance in the green energy industry. At the PV EXPO, M.Setek will display several wafers, among which the N-Type mono-crystalline wafer can be applied to the making of high-efficiency solar cells, with a conversion rate as high as 20-23%.
James Chen, AUO's Senior Associate Vice President of the Solar Photovoltaic Business Unit will be speaking at the Taiwan Photovoltaic Industry Forum on the morning of March 4 during PV EXPO. The topic is to be AUO's Green Solutions.
AUO has actively invested in solar business and planned for the solar value chain from upstream to downstream. The Company has partners in Europe for the development of several solar projects. In addition, a reliability lab for the testing of solar modules has been set up in Taichung, with its product quality certified by TUV Rheinland, a global leader in independent testing and assessment services from Germany. The plan is to next launch solar business operating points in China this year. With the strategy to provide total solutions, AUO will cooperate closely with partners in the industry value chain to further develop the global solar market.
ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is a worldwide top three manufacturer* of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches. AUO generated NT$359.3 billion (US$11.2 billion) in sales revenue in 2009 and now houses a staff of more than 42,000 employees throughout with global operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO extended its market to green energy industry in late 2008, and formally founded the Solar Photovoltaic Business Unit in October 2009. For more information, please visit AUO.com.
* DisplaySearch 3Q2009 WW Large-Area TFT-LCD Shipment Report. This data is used as reference only and AUO does not make any endorsement or representation in connection therewith. 2009 year end revenue converted by an exchange rate of NTD31.95:USD1.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a worldwide top three manufacturer of large-size TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on June 4th, 2008.
Source: AU Optronics Corp.
CONTACT: Freda Lee, +886-3-5008800 x3206, +886-3-5772730 (Fax), or
freda.lee@auo.com, or Yawen Hsiao, +886-3-5008800 x3211, +886-3-5772730 (Fax),
yawen.hsiao@auo.com, both of Corporate Communications Division, AU Optronics
Corp.
Sohu.com Announces Launch of 'Da Hua Shui Hu' by Changyou.com on March 18, 2010
BEIJING, March 1 -- Sohu.com Inc. (NASDAQ:SOHU), China's leading online media, communications, search, online games and mobile value-added services group, today announced that its massively multi-player online role-playing game ("MMORPG") subsidiary, Changyou.com Limited ("Changyou") (NASDAQ:CYOU), will begin open-beta testing of Da Hua Shui Hu, Changyou's 2D turn-based cartoon-style MMORPG, on March 18, 2010.
Da Hua Shui Hu, a game developed by a Guangzhou-based game development studio, is based on one of the four great classical novels of Chinese literature, Outlaws of the Marsh. Through its cartoon graphics and humorous twists on characters and plots, Da Hua Shui Hu provides an amusing and entertaining take on the heroic tales from the classic Chinese novel.
Mr. Dewen Chen, Changyou's president and chief operating officer, commented, "As Changyou's first cartoon-style turn-based game, Da Hua Shui Hu complements our existing game offerings and further enriches Changyou's game portfolio. It marks another step forward in our strategy of focusing on both in-house developed and licensed games. We expect the game to help expand our user base with its easy-to-learn community-based game play, popular storyline and unique features, which innovatively incorporate a number of today's most popular gaming elements."
Da Hua Shui Hu was successfully licensed in 2009 through Changyou's "Qi Bao" strategic licensing plan, which aims to discover high-quality online games.
About Changyou
Changyou.com Limited's massively multi-player online role-playing games ("MMORPG") business began operations as a business unit within Sohu.com Inc. (NASDAQ:SOHU) in 2003. Changyou was carved out as a separate, stand-alone company in December 2007, completed an initial public offering on April 7, 2009 and is now a leading developer and operator of online games in China. Changyou currently operates three online games, including the in-house developed Tian Long Ba Bu, one of the most popular online games in China, and the licensed Blade Online and Blade Hero 2. Changyou has a diversified pipeline of games with various graphic styles and themes, including the licensed Da Hua Shui Hu, Zhong Hua Ying Xiong, Immortal Faith, Legend of the Ancient World, and the in-house developed Duke of Mount Deer, which received an award as one of China's most anticipated online games. Changyou's leading technology platform includes advanced 2.5D and 3D graphics engines, a uniform game development platform, effective anti-cheating and anti-hacking technologies, proprietary cross-networking technology and advanced data protection technology. For more information about Changyou, please visit http://www.changyou.com/en/ .
About Sohu.com
Sohu.com Inc. (NASDAQ:SOHU) is China's premier online brand and indispensable to the daily life of millions of Chinese, providing a network of web properties and community based/web 2.0 products which offer the vast Sohu user community a broad array of choices regarding information, entertainment and communication. Sohu has built one of the most comprehensive matrices of Chinese language web properties and proprietary search engines, consisting of the mass portal and leading online media destination http://www.sohu.com; interactive search engine http://www.sogou.com; #1 games information portal http://www.17173.com; the top real estate website http://www.focus.cn; #1 online alumni club http://www.chinaren.com; wireless value-added services provider http://www.goodfeel.com.cn; leading online mapping service provider http://www.go2map.com; and developer and operator of online games http://www.changyou.com.
Sohu corporate services consist of brand advertising on its matrix of websites as well as paid listing and bid listing on its in-house developed search directory and engines. Sohu also offers wireless value-added services such as news, information, music, ringtone and picture content sent over mobile phones. The Group's massively multiplayer online role-playing game (MMORPG) subsidiary, Changyou.com (NASDAQ:CYOU), currently operates three MMORPGs, Tian Long Ba Bu, Blade Online and Blade Hero 2. Sohu.com, established by Dr. Charles Zhang, one of China's internet pioneers, is in its fourteenth year of operation.
Safe Harbor Statement
This announcement contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the current global financial and credit markets crisis and its potential impact on the Chinese economy, the slower growth the Chinese economy experienced during the latter half of 2008 and in 2009, which could continue through 2010, the uncertain regulatory landscape in the People's Republic of China, fluctuations in Sohu's quarterly operating results, Sohu's historical and possible future losses, and its reliance on online advertising sales, online games and wireless services (most wireless revenues are collected from a few mobile network operators) for its revenues. Further information regarding these and other risks is included in Sohu's annual report on Form 10-K for the year ended December 31, 2009, and other filings with the Securities and Exchange Commission.
For investor and media inquiries, please contact:
In China:
Mr. James Deng
Senior Finance Director
Sohu.com Inc.
Phone: +86-10-6272-6596
Email: ir@contact.sohu.com
Ms. Cathy Li
Ogilvy Financial, Beijing
Phone: +86-10-8520-6104
Email: cathy.li@ogilvy.com
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Phone: +1-646-460-9989
Email: jessica.cohen@ogilvypr.com
CONTACT: In China: Mr. James Deng, Senior Finance Director, Sohu.com
Inc., +86-10-6272-6596, or ir@contact.sohu.com; or Ms. Cathy Li, Ogilvy
Financial, Beijing, +86-10-8520-6104, or cathy.li@ogilvy.com; In the United
States: Ms. Jessica Barist Cohen, Ogilvy Financial, New York, +1-646-460-9989,
or jessica.cohen@ogilvypr.com
T-Venture investment strengthens the company's broadband communications market position and gives a competitive edge for future developments
MUNICH, NEUBIBERG, Germany and BONN, Germany, March 1 -- Lantiq, a leading company in next-generation access and home networking technologies, and T-Venture today announced the closing of a strategic investment. T-Venture, the venture capital company of Deutsche Telekom, is supporting Lantiq with a capital investment and will provide future strategic advice to the company. By agreement, the terms of the deal remain undisclosed.
"We are pleased to announce that we have taken our relationship with Deutsche Telekom Group to the next level with this investment, and our partnership will help drive our products and technology roadmap for the benefit of our customers and the industry," stated Christian Wolff, CEO of Lantiq. "Deutsche Telekom is one of the world's leading carriers defining and driving the architecture of next generation networks. The investment in Lantiq demonstrates trust and enthusiasm in our business strategy and technology portfolio, and we look forward to working together."
"Continuing to expand and improve broadband infrastructure is a priority for Deutsche Telekom. We are convinced of the great potential that Lantiq's innovative semiconductor solutions offer," said Bruno Jacobfeuerborn, Member of the Board of Management T-Home, Technology, and Managing Director Technology, T-Mobile Germany. "Lantiq's innovative technology portfolio and future product and market roadmaps perfectly match Deutsche Telekom's needs. Both parties involved can profit from the investment - in terms of technology as well as market success."
With revenue of more than 450 million USD in 2009, Lantiq is the second largest fabless semiconductor company in Europe. Lantiq continues to bring broadband solutions to life and remains dedicated to its customers, enabling carrier innovations for next generation networks and digital homes. According to the most recent market research data from iSuppli for 3Q09, Lantiq ships 34% of all xDSL ports worldwide, which positions the company as a leading provider for wireline access networks.
About LANTIQ
Lantiq offers a broad and innovative product portfolio for next generation networks and the digital home. The company has a global team of about 1,000 experts in Europe, North America, the Middle East and the Asia Pacific regions. The company is headquartered in Neubiberg just outside of Munich, Germany and specializes in broadband communications encompassing analog, digital and mixed-signal ICs along with comprehensive software suites. Lantiq is a fabless company and its semiconductor solutions are deployed by major carriers and in home networks in every region of the world. Further information is available at: http://www.lantiq.com/.
About T-Venture
T-Venture Holding GmbH, is one of the most important corporate venture capital companies in the world. Founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG, it has since then invested in young companies that demonstrate economic and technological synergies with the Deutsche Telekom business units as well as above-average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in Foster City, Silicon Valley, and in Seattle. Investment activities focus on Europe, the United States and Asia. T-Venture currently manages the T-Mobile Venture Fund, the Connected Life and Work Fund, the T-Home Venture Fund, the T-Systems Venture Fund and the T-Corporate Venture Fund. Further information is available at: http://www.t-venture.de/
Source: Lantiq
CONTACT: Christoph von Schierstaedt of Lantiq, +49-(89)-89899-7556,
Mobile +49-160-96901486, media-relations@lantiq.com, or Sarah LaLiberte,
Lantiq Media Relations North America, +1-978-502-8558,
sarah.laliberte@lantiq.com; or Sabine Kohl of T-Venture, +49-228-308-48-0, fax
+49-228-308-48-819, t-venture@telekom.de
Changyou.com to Launch 'Da Hua Shui Hu' on March 18, 2010
BEIJING, Mar. 1 -- Changyou.com Limited ("Changyou" or the "Company") (NASDAQ:CYOU), a leading online game developer and operator in China, today announced that it will begin open-beta testing of Da Hua Shui Hu, the Company's 2D turn-based cartoon-style massively multi-player online role- playing game ("MMORPG"), on March 18, 2010.
Da Hua Shui Hu, a game developed by a Guangzhou-based game development studio, is based on one of the four great classical novels of Chinese literature, Outlaws of the Marsh. Through its cartoon graphics and humorous twists on characters and plots, Da Hua Shui Hu provides an amusing and entertaining take on the heroic tales from the classic Chinese novel.
Mr. Dewen Chen, Changyou's president and chief operating officer, commented, "As Changyou's first cartoon-style turn-based game, Da Hua Shui Hu complements our existing game offerings and further enriches Changyou's game portfolio. It marks another step forward in our strategy of focusing on both in-house developed and licensed games. We expect the game to help expand our user base with its easy-to-learn community-based game play, popular storyline and unique features, which innovatively incorporate a number of today's most popular gaming elements."
Da Hua Shui Hu was successfully licensed in 2009 through Changyou's "Qi Bao" strategic licensing plan, which aims to discover high-quality online games.
About Changyou
Changyou.com Limited's massively multi-player online role-playing games ("MMORPG") business began operations as a business unit within Sohu.com Inc. (NASDAQ:SOHU) in 2003. Changyou was carved out as a separate, stand-alone company in December 2007, completed an initial public offering on April 7, 2009 and is now a leading developer and operator of online games in China. Changyou currently operates three online games, including the in-house developed Tian Long Ba Bu, one of the most popular online games in China, and the licensed Blade Online and Blade Hero 2. Changyou has a diversified pipeline of games with various graphic styles and themes, including the licensed Da Hua Shui Hu, Zhong Hua Ying Xiong, Immortal Faith, Legend of the Ancient World, and the in-house developed Duke of Mount Deer, which received an award as one of China's most anticipated online games. Changyou's leading technology platform includes advanced 2.5D and 3D graphics engines, a uniform game development platform, effective anti-cheating and anti-hacking technologies, proprietary cross-networking technology and advanced data protection technology. For more information about Changyou, please visit http://www.changyou.com/en/ .
Safe Harbor Statement
This announcement contains forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. The Company cautions that a number of important factors could cause actual results to differ materially from those contained in any forward- looking statement. Potential risks and uncertainties include, but are not limited to, the current global financial and credit markets crisis and its potential impact on the Chinese economy, the slower growth the Chinese economy experienced during the latter half of 2008 and in 2009, which could continue through to 2010, the uncertain regulatory landscape in the People's Republic of China, fluctuations in Changyou's quarterly operating results, Changyou's historical and possible future losses and limited operating history, and the Company's reliance on Tian Long Ba Bu as its major revenue source. Further information regarding these and other risks is included in Changyou's Annual Report on Form 20-F filed on February 26, 2010, and other filings with the Securities and Exchange Commission.
CONTACT: in China, Angie Chang, Investors Relations Manager of
Changyou.com Limited, +86-10-5956-3358, ir@cyou-inc.com; or Cathy Li of Ogilvy
Financial, Beijing, +86-10-8520-6104, cathy.li@ogilvy.com; or in the United
States, Jessica Barist Cohen of Ogilvy Financial, New York, +1-646-460-9989,
jessica.cohen@ogilvypr.com
Mountain Rescue England and Wales Appoints Mapyx Limited to be its Official GIS & Digital Mapping Partner
SURBITON, England, March 1, 2010--
- Mapyx Limited is Pleased to Announce That as of 1 March 2010, it
Entered Into an Agreement With Mountain Rescue England & Wales (MREW) to be:
Official GIS and Mapping Partner of Mountain Rescue England & Wales
- With Photo
Mapyx is justifiably proud to be associated with this important charity
whose members are highly committed to delivering premier search and rescue
services.
Mark Lewis, the Communications Officer for MREW, stated
"Digital mapping has been a project we've been investigating for some time
and the wait has certainly paid off in choosing Mapyx as a partner to supply
a solution to our specification at no cost. Since our first meeting with
Mapyx I have never looked back.
Every recognised team and member of Mountain Rescue England &
Wales will benefit from the Quo package receiving a free copy with associated
maps.
This is a great achievement for MREW to enable a common GIS
platform to be available across England & Wales - and without teams having to
spend any of their limited funds."
Mark Salter, Head of Partners and Alliances said, "Ordnance
Survey is pleased to congratulate Mapyx Limited in its achievement of
becoming Official GIS and Digital Mapping Partner of Mountain Rescue
England and Wales. This is a great accolade to Mapyx Limited who's software
Quo is a superb digital mapping solution, a fact clearly acknowledged by
MREW. Ordnance Survey recognises the outstanding work of MREW and our
topographic maps will continue to assist them in their important life saving
work."
Chairman of Mapyx, Steven Wood, stated "All of us at Mapyx
feel privileged to offer our support, products and services to MREW. We fully
recognise the valuable contribution that MREW provides to both the public and
other services. They not only save countless lives but also offer valuable
support to other organisations in times of emergency. We are honoured that
MREW asked for our assistance and Mapyx look forward to supporting them
immediately and in the future.
MREW is a charity and not only needs support and funding from
the public at large, but also needs improved technological capability, which
Mapyx is pleased to deliver. Our first step will be to ensure MREW has full
digital mapping capability for the whole of England & Wales and then Mapyx
will provide MREW with better search and rescue technology, which is
currently under development."
Mapyx Quo is 100% FREE fully-functional digital mapping
software that has won numerous awards and is the optimum choice for those who
operate in an outdoor environment whether for personal or commercial use and
of course, chosen by MREW, the experts in saving lives.
Pi2 Solutions Releases the Latest Version of its Product Literature Database System for the Biopharmaceutical Industry
LONDON, March 1, 2010-- Pi2 Solutions announces the all-new 2010 version of their world-leading
Product Literature Database System. This versatile application builds on the
success of the 2003 version in use in biopharmaceutical companies around the
globe.
In addition to the well-appreciated Guided, Advanced, Author and
Thesaurus search interfaces, the new version introduces a number of unique
features to aid users of product related information:
- Customisable Homepages: client administrators can set up multiple
homepages so users in different pharma regions or therapeutic
categories can use quick links to access specifically relevant content.
Users can also configure a personal homepage using drag & drop
- Variable user rights: different user groups can have restricted views
on content
- Current awareness: clickable email alerts for individuals or groups,
daily, weekly, etc
- Multiple indexes per article, each index specific to one drug allowing
pinpoint association of, for example, AE or dosage information, with a
specific drug
- Links to full-article versions, according to subscriptions, and to
various "Related Resources" that cite the literature, such as medical
letters, monographs and much more
- Study-specific indexing so that all publications from a given study can
be quickly recognised and the resulting documentation readily
downloaded
- Ability to effortlessly download a Related Resource, its relevant
bibliographic records and all associated full-articles and other PDFs
- Complete intra-operability with Pi2's pipeline of downstream workflow
tools, eg. Pi2's forthcoming software for handling submissions
reference requests, creating and managing medical letters, the Pi2 KOL
Db and Pi2 TrialWatch.
- A new "Copy link" feature which enables pinpoint linking into a
client's PLD from other client systems and documents.
- Enhanced custom thesaurus handling capabilities
- High performance and scalability to >1 million records
The roll-out of the Pi2 2010 PLD version to current clients will be
completed in Q2 and new clients will automatically get the upgraded system.
Demonstrations to prospective clients will feature the new system together
with compatible Pi2 pipeline applications to assist users in their day to day
workflow.
Pi2 Product Literature Database (PLD) Systems and Downstream Workflow
Applications
Pi2 PLD systems track journal and conference articles that mention a
client's drugs and, optionally, those of their competitors. Database records
link to the full text articles, to various Related Resources that cite the
literature and integrate with a variety of client end-user systems. They
typically drive efficiency in an organisation, have a very low ownership cost
and generally save a client company many times what they would spend on
acquiring a Pi2 PLD. Pi2 PLD systems are widely regarded as being unrivalled
in terms of functionality, ease of use and low burden of ownership. Pi2's
"Downstream Workflow Applications" will increasingly enable end-users to
create and manage their medical letters, create publications planning
reports, organise KOLs, as well as tracking clinical trials and medical
conferences. Seamless linking between the various Pi2 applications and
integration with client internal systems ensure efficiency, greater workflow
effectiveness and ease of working.
About Pi2 Solutions Ltd
Pi2 Solutions Ltd is a privately owned London-based company specialising
in Product Literature Database (PLD) systems for the biopharmaceutical
industry and "Downstream Workflow Applications" for key user groups in
functions such as Medical Affairs, Marketing, Drug Safety, Publications
Planning, Competitive Intelligence.
Established in 2002, Pi2 has an enviable portfolio of global
biopharmaceutical clients from the very largest pharma companies to small
emerging biotechs. The strategic aim of Pi2 is to continue to develop
solutions for solving the workflow challenges of users of drug-related
literature in departments such as libraries/knowledge centres, medical
information, medical affairs, publications planning and communications teams,
marketing and product strategy, competitive intelligence, drug safety/
pharmacovigilance and others.
For More Information Contact:
info@pi2solutions.com
Source: Pi2 Solutions Ltd
For More Information Contact: Nigel Johnson on +44-1707-659966 or info@pi2solutions.com
TAAP Data Capture Mobile Software Triumphs at MCN Show
BOREHAMWOOD, England, March 1, 2010-- Triumph - the largest British automotive manufacturer, producing around
50,000 motorcycles a year - used TAAP's Data Capture mobile software on a
rental basis to collect leads at the recent Motorcycle News (MCN) show. With
a comprehensive network of professional dealerships, Triumph offers test
rides throughout the UK.
The MCN show is the biggest annual motorcycle show in the London/South
East area, with people travelling from outside the UK to attend. TAAP - a
leading mobile software application provider with significant expertise in
the automotive sector - provided Triumph with eight PDA devices (handheld
mobile computers) for use at the show, held at the Excel centre from 4th -
7th February 2010.
TAAP's award-winning Data Capture application operates via Pocket
PCs/PDAs to allow Triumph to collect customer data and view it in real-time
on a secure website, completely eliminating paper forms. This makes remote
event management and tracking much easier as information is immediately
visible. Data is securely managed as it is encrypted on the device and when
sent from it.
Emphasizing its flexible approach to software customisation, TAAP
provided Triumph with a 'nearest dealer' feature. This ensured that when
customers were contacted at a later date with regards to a test ride, this
would be done by their nearest Triumph dealer. The application includes
mandatory fields which ensure that all leads collected contain uniform
information in a set format, and missing data is a thing of the past.
Triumph were pleased with the ease of use of the application and the
quality of the lead data captured, and confirmed further use of the
technology for the forthcoming Scottish MCN event organised by Live
Promotions and held at the Royal Highland Centre, Edinburgh on 20th and 21st
March 2010.
Triumph account manager at TAAP, Louise Lawson, said "We're delighted
that Triumph found the Data Capture application a success and are planning to
use it again for the Scottish show. Secure data collection through the TAAP
mobile software means customers benefit from a more accurate and far quicker
response."
About Data Capture
TAAP Data Capture enables secure collection of data whilst out of the
office on a mobile device. Further details are available at: http://www.ontaap.com/TAAPDataCapture.aspx
About TAAP
TAAP is a leading provider of software solutions which allow
organisations to mobilise their operations using hand held computers.
Service Differentiation Adds a New Competitive Focus on OSS/BSS, Says Frost & Sullivan
SINGAPORE, March 1 -- Traditional Communications Service Providers (CSPs) are actively competing with new entrants to capture and retain customer mindshare. At the core of today's changing communications marketplace, operators are constantly challenged to deliver new services and meet requirements from new business models.
In an aid to further understand the issues and latest developments within the OSS/BSS space in Asia Pacific, Frost & Sullivan along with Stratecast, is organising the 4th Annual OSS/BSS Asia Pacific Summit (http://www.frost-oss.com/). The summit is scheduled to be held from March 24 - 25, 2010 at Resorts World Convention Centre, Sentosa, Singapore.
Prominent industry thought leaders, along with Frost & Sullivan and Stratecast analysts, will convene to discuss multiple business and operations issues facing CSPs today. Conference sessions will feature case studies involving operators from several countries. The conference will also discuss what the industry still needs to meet the demands of market change in this unprecedented era of business evolution.
Structured to look into the essential OSS/BSS functions and business processes, the summit will discuss implications of new business models, importance of convergent charging, and show why policy management with real-time charging can provide customer control and better match-up of service plans to network capacity. Sessions will also address customer service assurance issues through customer case studies, why data security is more important now than ever before, and bring forward the continued importance of managed services relative to the new service environment.
"User device evolution and network infrastructure improvements continue to be two very critical business drivers in the changing customer services landscape. Enabled by these advances, service offers with real-time components and interactive user control is quickly becoming the norm," said Karl Whitelock, Stratecast senior consulting analyst OSS/BSS global competitive strategies. Karl further adds that market differentiation comes to organizations that can align the necessary OSS and BSS functions to meet today's changing market dynamics.
A noteworthy highlight at the summit will be the keynote address by Malcolm Rodrigues, General Manager for Nucleus Connect, who will share the progress-to-date regarding Singapore's Next Gen National Broadband Network (NBN) Business Model, since its appointment by the Singapore Infocomm Development Authority (IDA).
Alongside these highly relevant issues, the Frost & Sullivan - Stratecast OSS BSS analyst team will share their perspective and insights on the conference's main subjects and provide an interactive audience participation workshop held in the afternoon of Thursday, March 25, 2010. This will be available to all attendees as part of the regular conference registration.
Join speakers from Oracle Communications, Reliance Communications, Telekom Malaysia, Telecom Fiji, Clarity, Amdocs, Guardium, TRUE Internet, Accanto Systems, Volubill and senior Frost & Sullivan/Stratecast analysts as they share their success and challenges and provide perspective on some of the most critical business and operations issues faced by the industry at large.
All attending delegates will receive a complimentary copy of the 2010 Stratecast/Telecom Asia magazine survey results.
Oracle Communications is the strategic sponsor for the summit while, Clarity and Tech Mahindra are the gold sponsors. INTEC and Nuance are the breakfast briefing sponsors and Accanto Systems, Amdocs, Fujitsu, Guardium, and Volubill are the partner sponsors. Exhibitors at the summit are AranTech, Fastwire, and VOIPFUTURE.
The official newswire is PR Newswire. Official TV Partner is The Telecom Channel, official publications are Billing & OSS, Telecom Asia and Wireless Asia. Media partners for the summit include BillingViews, China Newswire, China Tech News, GreenChinaTech, Developing Telecoms, TelecomWatch and OSS News Review. Global Revenue Assurance Professional Association (GRAPA) is the supporting association for this summit.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com/
About Stratecast
Stratecast assists clients in achieving their growth objectives by providing critical, objective and accurate strategic insight on the global communications industry. As a division of Frost & Sullivan, Stratecast's strategic consulting and analysis services complement Frost & Sullivan's Market Engineering and Growth Partnership services. Stratecast's product line includes subscription-based recurring analysis programs focused on Business Communication Services (BCS), Consumer Communication Services (CCS), Communications Infrastructure and Convergence (CIC), OSS and BSS Global Competitive Strategies (OSSCS), and our weekly opinion editorial, Stratecast Perspectives and Insight for Executives (SPIE). Custom consulting engagements are also available.
ATX Joins Pilot Project to Promote Cross-Border eCall Solutions
Demonstration at CeBIT to Showcase Latest Advances in Connected Vehicle Solutions
HANNOVER, Germany, March 1 -- ATX, one of the leading providers of in-vehicle, location-based services to the global automobile industry, announced in advance of its participation at CeBIT 2010 this week, its participation in a DEUFRAKO pilot project designed to test different eCall deployment solutions for locating vehicles involved in cross-border emergency situations between France and Germany. DEUFRAKO (http://www.deufrako.org) is an organization dedicated to funding bilateral (French and German) research projects.
The project will be featured at CeBIT 2010 - the world's foremost tradeshow for the digital industry from March 2-6 at the Hannover Exhibition Center in Germany - in Hall 7, Booth A28. ATX is co-sponsoring the exhibit booth with ITS Niedersachsen, a consortium of automotive, telecommunications and public agencies involved in research and development which is coordinating German participation in the project.
The goal of the project is to analyze the differences in the French and German solutions for transmitting location-enabled emergency signals (eCalls) from vehicles, whether activated manually by motorists facing an emergency or automatically by in-vehicle crash sensors. Results from the study will be used to develop potential migration strategies for ensuring eventual pan-European cross-border standardization and interoperability for routing of eCalls.
"We are honored to be invited to participate in a project that has the potential to help accelerate the deployment of eCall in-vehicle emergency response, and thereby begin saving lives, by providing quicker response to severe accidents on European roads," said Arnaud de Meulemeester, ATX managing director.
De Meulemeester is also scheduled on 4 March to speak at the European eCall Implementation Workshop (Convention Center, room 18) on how traditional telematics or third-party service providers can leverage connected vehicle technology and applications already being deployed to dramatically expand a pan-European eCall system without having to resolve long-term issues regarding standards, deployment costs, or technical interfaces with local 1-1-2 emergency response centers.
ATX will also use its booth at CeBIT to demonstrate an easy-to-use, in-vehicle, human-to-machine interface that allows motorists to summon eCall assistance, as well as access real-time information and personalized services (i.e., roadside assistance, hotel reservations, weather forecast, available parking) through widgets and other applications that can be downloaded into the vehicle.
ABOUT ATX: With operations in Dallas-Fort Worth, Texas, and representative offices in Paris, France, and Dusseldorf, Germany, ATX (http://www.atxg.com) is one of the world's leading providers of customized connected vehicles (telematics) services to global automobile manufacturers. ATX services, among the first to be launched in the consumer vehicle market back in 1996, are provided to vehicle owners through the brand names of its customers: Toyota, Lexus, BMW, PSA Peugeot Citroen, Mercedes-Benz Canada, and Rolls-Royce Motor Cars.
Services by ATX provide enhanced safety, security and driving convenience to vehicle owners, and include location-specific emergency and roadside assistance, automatic collision notification, stolen vehicle recovery, remote diagnostics, and real-time traffic and navigation assistance. ATX also customizes services to help automobile manufacturers and their affiliated dealerships use telematics data and multiple customer contact channels to reduce costs, enhance vehicle servicing, and more closely manage customer relationships and contacts with the vehicle through its lifetime.
ATX has a heritage of partnering with European-based automakers to introduce innovative, Web-based services, having helped pioneer the first in-vehicle access to online content in 2001 and the first download of online content to a vehicle in 2008.
ATX is a division of Cross Country Automotive Services (http://www.crosscountry-auto.com), a leading provider of location-based automotive services.
CONTACT: Europe, Arnaud de Meulemeester, +33 637 096 944,
ameulemeester@atxg.com, or North America, Gary Wallace, Vice President,
Corporate Relations, 1-800-511-5891, +1-972-753-6230, gwallace@atxg.com, both
of ATX Group
Major European Operator Goes Live With Bridgewater PCRF
OTTAWA, March 1, 2010--
- Goes Live in 10 Weeks Enabling Compliance With New EU Data Roaming
Regulations and Empowering Subscribers to Personalize and Manage Mobile
Data Usage
Bridgewater Systems (TSX: BWC), the mobile personalization company,
today announced that a European property of a major global mobile operator
group has selected the Bridgewater(R) Policy Controller (PCRF) to meet new
EU mobile data roaming legislation that comes into effect today.
News
- The European operator has selected the market leading Bridgewater
Policy Controller for its HSPA network to prevent mobile bill shock,
comply with EU data roaming regulations, and enable new services
including:
- Setting limits and notifications while roaming. Volume-based
metering is used to track data usage, set limits, and trigger
notifications. When a usage threshold is reached, subscribers are
notified by SMS or email and redirected to a payment portal where
they can opt for a temporary bandwidth boost, a service extension,
or other options.
- Flexible quota management based on subscriber type - for example
EU, non-EU and domestic subscribers.
- Applying Smart Caps(TM) to ensure fair usage. Smart Caps are
precise controls that adjust bandwidth levels based on real-time
factors such as the subscriber's bandwidth usage during a mobile
data session, roaming status, and level of network congestion.
- EU Commission data roaming legislation requires operators to
implement systems that allow customers to determine in advance how
much they want to spend before their service is 'cutoff' when
roaming. The default monthly limit is EUR50.
- The Bridgewater Policy Controller (PCRF) is an LTE-ready, 3GPP
Release 7, 8 and 9 compliant product that applies real-time network,
application and subscriber policies to manage mobile data growth and
deliver personalized services. It is fully interoperable with multi-
vendor mobile core solutions such as the GGSN.
- Bridgewater went from selection to live deployment with the customer
in just 10 weeks, reflecting the strong out-of-the-box functionality
and open, standards-based interfaces that enable rapid time-to-
market.
Quotes
David Sharpley, Senior Vice President, Bridgewater Systems
"Bridgewater's innovative policy and bill shock solutions ensure
compliance with EU data roaming regulations, give subscribers greater
control over their mobile data usage, and provide operators with a platform
for future service innovation. This competitive PCRF selection by a major
European HSPA operator demonstrates the compelling value we can unleash for
our customers."
Peter Mottishaw, Senior Analyst, Analysis Mason
"While many operators have complied with European legislation by
adjusting back-end billing systems, this set-up is not designed to offer a
real-time transparent view of data usage. Operators need to offer more
flexibility such as enabling customers to set personal limits and
differentiating between consumer and business users, who have distinct
requirements."
Tags / Keywords
Bridgewater Systems, Smart Caps, Bill Shock, EU Mobile Data Roaming,
Policy Controller, myPolicy, PCRF, HSPA, Fair Usage
Bridgewater Systems, the mobile personalization company, enables
service providers to efficiently manage and profit from mobile data
services, content and commerce. The company's market leading mobile
personalization portfolio provides a real-time, unified view of subscribers
including entitlements, devices, networks, billing profiles, preferences
and context. Anchored by Bridgewater's Subscriber Data Broker(TM), the
portfolio of carrier-grade and standards-based products includes the
Bridgewater(R) Service Controller (AAA), the Bridgewater(R) Policy
Controller (PCRF) and the Bridgewater(R) Home Subscriber Server (HSS). More
than 140 leading service providers including America Movil, Bell Canada,
Clearwire, Cox, Hutchison Telecom, Iusacell, Scartel, SmarTone-Vodafone,
Sprint, Tata Teleservices, Tatung, Telmex, Telstra, and Verizon Wireless
use Bridgewater's solutions to rapidly deliver innovative mobile services
to over 150 million subscribers. For more information, visit us at http://www.bridgewatersystems.com.
Bridgewater, Bridgewater Systems, the Bridgewater Systems logo,
WideSpan, Smart Caps, myPolicy, and Subscriber Data Broker are trademarks
or registered trademarks of Bridgewater Systems Corporation. All other
company, product names and any registered and unregistered trademarks
mentioned are used for identification purposes only and remain the
exclusive property of their respective owners.
For further information: Ed Barker, Bridgewater Systems,
edward.barker@bridgewatersystems.com, +44-(0)7939-492-656; Joanne
Steinberg, Bridgewater Systems, joanne.steinberg@bridgewatersystems.com,
+1-613-884-8831/ (BWC.)
Source: Bridgewater Systems
For further information: Ed Barker, Bridgewater Systems, edward.barker@bridgewatersystems.com, +44-(0)7939-492-656; Joanne Steinberg, Bridgewater Systems, joanne.steinberg@bridgewatersystems.com, +1-613-884-8831/ (BWC.)
Perfect World Announces Fourth Quarter And Fiscal Year 2009 Unaudited Financial Results
BEIJING, Mar. 1 -- Perfect World Co., Ltd. (NASDAQ:PWRD) ("Perfect World" or the "Company"), a leading online game developer and operator based in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009.
-- Total revenues were RMB607.9 million (USD89.1 million), an increase of
3.0% from 3Q09 and 45.5% from 4Q08
-- Gross profit was RMB526.4 million (USD77.1 million), an increase of
6.3% from 3Q09 and 42.9% from 4Q08
-- Operating profit was RMB276.5 million (USD40.5 million), as compared to
RMB297.7 million in 3Q09 and RMB149.5 million in 4Q08. Non-GAAP
operating profit(2) was RMB298.5 million (USD43.7 million), as compared
to RMB317.9 million in 3Q09 and RMB244.7 million in 4Q08
-- Net income attributable to the Company's shareholders was RMB270.8
million (USD39.7 million), as compared to RMB288.3 million in 3Q09 and
RMB124.8 million in 4Q08. Non-GAAP net income attributable to the
Company's shareholders(2) was RMB292.8 million (USD42.9 million), as
compared to RMB308.5 million in 3Q09 and RMB220.0 million in 4Q08
-- Basic and diluted earnings per ADS(3) were RMB5.44 (USD0.80) and
RMB5.09 (USD0.75), respectively, as compared to RMB5.83 and RMB5.50,
respectively, in 3Q09, and RMB2.22 and RMB2.12, respectively, in 4Q08.
Non-GAAP basic and diluted earnings per ADS(2) were RMB5.88 (USD0.86)
and RMB5.50 (USD0.81), respectively, as compared to RMB6.24 and
RMB5.88, respectively, in 3Q09, and RMB3.91 and RMB3.74, respectively,
in 4Q08
-- Launched open beta testing for "Fantasy Zhu Xian" on October 22, 2009
(1) The U.S. dollar (USD) amounts disclosed in this press release, except
for those transaction amounts that were actually settled in U.S.
dollars, are presented solely for the convenience of the reader. The
conversion of Renminbi (RMB) into USD in this release is based on the
noon buying rate in The City of New York for cable transfers in RMB
per USD as certified for customs purposes by the Federal Reserve Bank
of New York as of December 31, 2009, which was RMB6.8259 to USD1.00.
The percentages stated in this press release are calculated based on
the RMB amounts.
(2) As used in this press release, non-GAAP operating profit, non-GAAP net
income attributable to the Company's shareholders and non-GAAP
earnings per ADS are defined to exclude share-based compensation
charge and an in-process research and development charge related to
the InterServ acquisition in October 2008 (which was recorded only in
4Q08) from operating profit, net income attributable to the Company's
shareholders and earnings per ADS, respectively. See "Non-GAAP
Financial Measures" and "Reconciliation of GAAP and Non-GAAP
Results" at the end of this press release.
(3) Each ADS represents five ordinary shares.
Fiscal Year 2009 Financial Highlights
-- Total revenues were RMB2,144.4 million (USD314.2 million), an increase
of 49.2% from fiscal year 2008
-- Gross profit was RMB1,844.6 million (USD270.2 million), an increase of
46.2% from fiscal year 2008
-- Operating profit was RMB1,084.2 million (USD158.8 million), an increase
of 60.1% from fiscal year 2008. Non-GAAP operating profit was
RMB1,162.1 million (USD170.3 million), an increase of 44.3% from fiscal
year 2008
-- Net income attributable to the Company's shareholders was RMB1,037.2
million (USD152.0 million), an increase of 60.4% from fiscal year 2008.
Non-GAAP net income attributable to the Company's shareholders was
RMB1,115.1 million (USD163.4 million), an increase of 43.9% from fiscal
year 2008
-- Basic and diluted earnings per ADS were RMB20.57 (USD3.01) and RMB19.28
(USD2.82), respectively, as compared to RMB11.50 and RMB10.91,
respectively, in fiscal year 2008. Non-GAAP basic and diluted earnings
per ADS were RMB22.11 (USD3.24) and RMB20.73 (USD3.04), respectively,
as compared to RMB13.79 and RMB13.08, respectively, in fiscal year 2008
"We are pleased to announce our fourth quarter and full year 2009 results," commented Mr. Michael Chi, Chairman and Chief Executive Officer of Perfect World. "We had a great year as we successfully expanded our portfolio by launching our first 2.5D MMORPG 'Battle of the Immortals' and our first 2D turn-based MMORPG 'Fantasy Zhu Xian,' both of which quickly emerged as popular games in the market. Our existing games also contributed to our encouraging results as we continued to enhance game content by releasing a steady stream of new expansion packs. 'Zhu Xian' and 'Perfect World II,' for example, are two games where new expansion packs have led to meaningful growth."
"Our diversified pipeline of six truly differentiated games that span the 3D, 2.5D and 2D market segments highlights our competitive position in the online game industry. We continue to take advantage of our specialized game engines and production studios to build franchises that include flagship titles in each of these market segments."
"During the past year, we saw a considerable amount of growth in our overseas business and are pleased with our progress. We continued to strengthen our overseas network as we licensed more of our games to additional countries and regions. Our North American operation has seen significant expansion as we also introduced new games to the market through our wholly-owned U.S. subsidiary. We are the leader in the Chinese online game export market in terms of revenues and geographic coverage."
"Given what we have accomplished in North America so far, we are pleased to announce that we recently established a wholly-owned subsidiary in Europe. This strategic decision will not only allow us to capture growth opportunities in the European market by leveraging our experience in the North American markets, but will also expand our overseas operational capabilities."
"We believe that 2010 will be an exciting year for us as we have a number of new and diversified games and expansion packs that are scheduled to be launched. We will continue to dedicate more resources to longer-term projects as our modified strategy has demonstrated to be effective in lengthening the growth cycle of both our new and existing games. We aspire to sustain the steady growth of our Company, and will do so by utilizing our proven execution capabilities and strong R&D and operating platform to constantly strive to meet the varied interests and expectations of online game players around the world."
Fourth Quarter 2009 Financial Results
Total Revenues
Total revenues were RMB607.9 million (USD89.1 million) in 4Q09, an increase of 3.0%, or RMB17.9 million, from RMB590.0 million in 3Q09, and an increase of 45.5%, or RMB190.1 million, from RMB417.8 million in 4Q08.
Online game operation revenues were RMB541.8 million (USD79.4 million) in 4Q09, an increase of 11.5%, or RMB55.9 million, from RMB485.9 million in 3Q09, and an increase of 49.4%, or RMB179.2 million, from RMB362.6 million in 4Q08. The sequential growth in online game operation revenues was primarily attributable to a number of achievements, including the launch of "Fantasy Zhu Xian," the release of expansion packs for some of the Company's existing games and a series of marketing activities.
The aggregate average concurrent users (ACU) for games under operation in mainland China was approximately 1,157,000 in 4Q09, as compared to 713,000 in 3Q09 and 690,000 in 4Q08. The active paying customers (APC) for games operated in mainland China under the item-based revenue model was approximately 2,188,000 in 4Q09, as compared to 1,643,000 in 3Q09 and 1,546,000 in 4Q08. The average revenue per active paying customer (ARPU) for games operated in mainland China under the item-based revenue model was RMB223 in 4Q09, as compared to RMB266 in 3Q09 and RMB225 in 4Q08. The increase in ACU and APC from 3Q09 was mainly due to the strong performance of the newly launched "Fantasy Zhu Xian" and the continued popularity of a number of the Company's existing games. The decrease in ARPU from 3Q09 was mainly due to the dilution effect arising from the launch of "Fantasy Zhu Xian" during 4Q09.
Overseas licensing revenues were RMB61.7 million (USD9.0 million) in 4Q09, as compared to RMB58.8 million in 3Q09 and RMB55.2 million in 4Q08. The increase from 3Q09 was mainly due to an increase in usage-based royalty fees, and was partially offset by a decrease in initial license fees.
Film, television and other revenues were RMB4.5 million (USD0.7 million) in 4Q09, as compared to RMB45.3 million in 3Q09 and Nil in 4Q08. Most of the film, television and other revenues recognized in 4Q09 were related to licensing of the copyright for the movie "Sophie's Revenge," which was released in August 2009.
Cost of Revenues
The cost of revenues was RMB81.5 million (USD11.9 million) in 4Q09, as compared to RMB95.0 million in 3Q09 and RMB49.3 million in 4Q08.
The online game related cost was RMB79.8 million (USD11.7 million) in 4Q09, as compared to RMB68.0 million in 3Q09 and RMB49.3 million in 4Q08. The increase from 3Q09 was mainly due to increases in sales-related taxes and staff cost.
The film, television and other cost was RMB1.7 million (USD0.3 million) in 4Q09, as compared to RMB27.0 million in 3Q09 and Nil in 4Q08. Most of the film, television and other cost recognized in 4Q09 was related to the movie "Sophie's Revenge."
Gross Profit and Gross Margin
Gross profit was RMB526.4 million (USD77.1 million) in 4Q09, an increase of 6.3%, or RMB31.4 million, from RMB495.0 million in 3Q09, and an increase of 42.9%, or RMB157.9 million, from RMB368.5 million in 4Q08. Gross margin was 86.6% in 4Q09, as compared to 83.9% in 3Q09 and 88.2% in 4Q08.
Operating Expenses
Operating expenses were RMB249.8 million (USD36.6 million) in 4Q09, an increase of 26.6%, or RMB52.5 million, from RMB197.3 million in 3Q09, and an increase of 14.1%, or RMB30.9 million, from RMB218.9 million in 4Q08. The increase in operating expenses from 3Q09 was mainly attributed to higher sales and marketing expenses, R&D expenses and general and administrative expenses.
Sales and marketing expenses increased by 41.7%, or RMB36.7 million, from RMB88.0 million in 3Q09 to RMB124.7 million (USD18.3 million) in 4Q09. This was largely due to an increase in advertising and promotional expenses associated with both the launch of the new game "Fantasy Zhu Xian" and the launch of "Tale of the Mermaid," a large-scale expansion pack for "Perfect World II," during 4Q09. In addition, the Company also incurred a special charge of approximately RMB17.5 million (USD2.6 million) associated with a change in the estimated useful lives of certain intangible assets acquired from InterServ which are related to outsourcing services. The Company re-allocated and integrated most of the acquired outsourcing team into its game R&D business to further enhance the Company's R&D capabilities.
R&D expenses increased by 7.6%, or RMB5.4 million, from RMB71.5 million in 3Q09 to RMB76.9 million (USD11.3 million) in 4Q09. The increase from 3Q09 was primarily due to an increase in staff cost.
General and administrative expenses increased by 27.7%, or RMB10.5 million, from RMB37.8 million in 3Q09 to RMB48.3 million (USD7.1 million) in 4Q09. The increase from 3Q09 was mainly due to an increase in staff cost, including a special year-end bonus.
Operating Profit
Operating profit was RMB276.5 million (USD40.5 million) in 4Q09, as compared to RMB297.7 million in 3Q09 and RMB149.5 million in 4Q08. Non-GAAP operating profit was RMB298.5 million (USD43.7 million) in 4Q09, as compared to RMB317.9 million in 3Q09 and RMB244.7 million in 4Q08. The decrease from 3Q09 was mainly due to the special charge of approximately RMB17.5 million (USD2.6 million) associated with a change in the estimated useful lives of certain intangible assets acquired from InterServ which are related to the outsourcing services. In addition, the launch of new game "Fantasy Zhu Xian" and "Tale of the Mermaid," a large-scale expansion pack for "Perfect World II," both during 4Q09, also caused an increase of advertising and promotional expenses.
Total Other Income
Total other income was RMB11.8 million (USD1.7 million) in 4Q09, as compared to RMB2.4 million in 3Q09 and RMB8.9 million in 4Q08. The increase from 3Q09 was mainly due to recognition of certain government financial incentives in 4Q09.
Income Tax Expense
Income tax expense was RMB17.5 million (USD2.6 million) in 4Q09, as compared to RMB11.1 million in 3Q09 and RMB33.6 million in 4Q08. The increase from 3Q09 was mainly due to an increase in withholding tax on overseas licensing revenues and an increase in income tax associated with domestic online game operations.
Net Income Attributable to the Company's Shareholders
Net income attributable to the Company's shareholders was RMB270.8 million (USD39.7 million) in 4Q09, as compared to RMB288.3 million in 3Q09 and RMB124.8 million in 4Q08. Non-GAAP net income attributable to the Company's shareholders was RMB292.8 million (USD42.9 million) in 4Q09, as compared to RMB308.5 million in 3Q09 and RMB220.0 million in 4Q08.
Basic and diluted earnings per ADS were RMB5.44 (USD0.80) and RMB5.09 (USD0.75), respectively, in 4Q09, as compared to RMB5.83 and RMB5.50, respectively, in 3Q09, and RMB2.22 and RMB2.12, respectively, in 4Q08. Non-GAAP basic and diluted earnings per ADS were RMB5.88 (USD0.86) and RMB5.50 (USD0.81), respectively, in 4Q09, as compared to RMB6.24 and RMB5.88, respectively, in 3Q09, and RMB3.91 and RMB3.74, respectively, in 4Q08.
Cash and Cash Equivalents
As of December 31, 2009, the Company had RMB1,567.2 million (USD229.6 million) of cash and cash equivalents, as compared to RMB1,194.0 million as of September 30, 2009. The increase was mainly due to net cash inflow generated from the Company's online game operations.
Fiscal Year 2009 Financial Results
Total Revenues
Total revenues were RMB2,144.4 million (USD314.2 million) in fiscal year 2009, an increase of 49.2%, or RMB707.2 million, from RMB1,437.2 million in fiscal year 2008. The year-over-year increase was primarily due to the successful launch of a number of new games and expansion packs in mainland China and, to a lesser extent, a significant expansion in the Company's North American operation. Online game operation revenues were RMB1,879.9 million (USD275.4 million) in fiscal year 2009, an increase of 50.3%, or RMB629.0 million, from RMB1,251.0 million in fiscal year 2008. Overseas licensing revenues were RMB214.6 million (USD31.4 million) in fiscal year 2009, an increase of 15.3%, or RMB28.4 million, from RMB186.2 million in fiscal year 2008. Film, television and other revenues were RMB49.8 million (USD7.3 million) in fiscal year 2009, as compared to Nil in fiscal year 2008. Most of the film, television and other revenues recognized in fiscal year 2009 were related to the movie "Sophie's Revenge," which was released in August 2009.
Cost of Revenues
Cost of revenues were RMB299.8 million (USD43.9 million) in fiscal year 2009, an increase of 71.0%, or RMB124.5 million, from RMB175.3 million in fiscal year 2008. The year-over-year increase was primarily due to increases in sales-related taxes and staff cost associated with the expansion of the Company's game portfolio, and a film cost related to "Sophie's Revenge."
Gross Profit and Gross Margin
Gross profit was RMB1,844.6 million (USD270.2 million) in fiscal year 2009, an increase of 46.2%, or RMB582.7 million, from RMB1,261.9 million in fiscal year 2008. Gross margin was 86.0% in fiscal year 2009, as compared to 87.8% in fiscal year 2008.
Operating Expenses
Operating expenses were RMB760.4 million (USD111.4 million) in fiscal year 2009, an increase of 30.0%, or RMB175.5 million, from RMB584.8 million in fiscal year 2008. The year-over-year increase in operating expenses was mainly due to the expansion of the Company's overall business operations in 2009.
Operating Profit
Operating profit was RMB1,084.2 million (USD158.8 million) in fiscal year 2009, an increase of 60.1%, or RMB407.1 million, from RMB677.1 million in fiscal year 2008. Non-GAAP operating profit was RMB1,162.1 million (USD170.3 million) in fiscal year 2009, an increase of 44.3%, or RMB356.7 million, from RMB805.4 million in fiscal year 2008.
Net Income Attributable to the Company's Shareholders
Net income attributable to the Company's shareholders was RMB1,037.2 million (USD152.0 million) in fiscal year 2009, an increase of 60.4%, or RMB390.7 million, from RMB646.5 million in fiscal year 2008. Non-GAAP net income attributable to the Company's shareholders was RMB1,115.1 million (USD163.4 million) in fiscal year 2009, an increase of 43.9%, or RMB340.3 million, from RMB774.8 million in fiscal year 2008.
Basic and diluted earnings per ADS were RMB20.57 (USD3.01) and RMB19.28 (USD2.82), respectively, in fiscal year 2009, as compared to RMB11.50 and RMB10.91, respectively, in fiscal year 2008. Non-GAAP basic and diluted earnings per ADS were RMB22.11 (USD3.24) and RMB20.73 (USD3.04), respectively, in fiscal year 2009, as compared to RMB13.79 and RMB13.08, respectively, in fiscal year 2008.
Recent Development
Established Subsidiary in Europe
In January 2010, the Company established a wholly-owned subsidiary in Europe to expand its overseas operating capabilities.
Business Outlook
Based on the Company's current operations, total revenues for the first quarter of 2010 are expected to be between RMB620 million and RMB644 million, representing an increase of 2% to 6% on a sequential basis and an increase of 46% to 51% on a year-over-year basis. This reflects expected growth from the Company's existing games.
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with generally accepted accounting principals in the United States, or GAAP, this press release presents non-GAAP operating profit, non-GAAP net income attributable to the Company's shareholders and non-GAAP earnings per ADS by excluding share-based compensation charge and an in-process research and development charge related to the InterServ acquisition in October 2008 (which was recorded only in 4Q08) from operating profit, net income attributable to the Company's shareholders and earnings per ADS, respectively. The Company believes these non-GAAP financial measures are important to help investors understand the Company's operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company's core operating results, as they exclude certain expenses that are (i) not expected to result in cash payments or (ii) non-recurring in nature. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation charge has been and will continue to be incurred and is not reflected in the presentation of the non-GAAP financial measures. It should be considered in the overall evaluation of our results. None of the non-GAAP measures is a measure of net income attributable to the Company's shareholders, operating profit, operating performance or liquidity presented in accordance with GAAP. We compensate for these limitations by providing the relevant disclosure of our share-based compensation charge and an in-process research and development charge related to the InterServ acquisition in October 2008 in our reconciliations to the GAAP financial measures, which should be considered when evaluating our performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure are set forth at the end of this release.
Conference Call
Perfect World will host a conference call and live webcast at 7:00 am Eastern Standard Time (8:00 pm, Beijing time) on Monday, March 1, 2010.
The dial-in details for the live conference call are as follows:
- U.S. Toll Free Number: 1-866-519-4004
- International Dial-in Number: +65-6735-7955
- Mainland China Toll Free Number: 10-800-819-0121
- Hong Kong Toll Free Number: 80-093-0346
- U.K. Toll Free Number: 080-8234-6646
Conference ID: PWRD
A live and archived webcast of the conference call will be available on the Investor Relations section of Perfect World's website at http://www.pwrd.com/ .
A telephone replay of the call will be available after the conclusion of the conference call through 10:00 am Eastern Standard Time, March 8, 2010.
The dial-in details for the replay are as follows:
- U.S. Toll Free Number: 1-866-214-5335
- International Dial-in Number: +61-2-8235-5000
Conference ID: 7973 (PWRD)
Perfect World Co., Ltd. (NASDAQ:PWRD) is a leading online game developer and operator based in China. Perfect World primarily develops online games based on proprietary game engines and game development platforms. The Company's strong technology and creative game design capabilities, combined with extensive knowledge and experiences in the online game market, enable it to frequently introduce popular games that are designed to cater to changing customer preferences and market trends promptly. The Company's current portfolio of self-developed online games includes massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian," "Chi Bi," "Pocketpet Journey West," "Battle of the Immortals" and "Fantasy Zhu Xian;" and an online casual game: "Hot Dance Party." While a substantial portion of the revenues are generated in China, the Company's games have been licensed to leading game operators in a number of countries and regions in Asia, Europe and South America. The Company also generates revenues from game operation in North America. The Company plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the management's quotations and "Business Outlook" contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, our limited operating history, our ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of our games and in- game items in China and elsewhere, our ability to protect our intellectual property rights, our ability to respond to competitive pressure, our ability to maintain an effective system of internal control over financial reporting, changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. All information provided in this press release and in the attachments is as of March 1, 2010, and Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
Perfect World Co., Ltd.
Consolidated Balance Sheets
Audited Unaudited Unaudited
December 31, December 31, December 31,
2008 2009 2009
RMB RMB USD
Assets
Current assets
Cash and cash equivalents 1,333,075,731 1,567,165,156 229,590,993
Restricted cash 150,361,200 5,033,996 737,485
Short-term investments 50,000,000 30,000,000 4,395,025
Accounts receivable, net 38,822,355 90,435,732 13,248,910
Due from related parties -- 159,100 23,308
Prepayment and other assets 36,269,524 54,262,066 7,949,438
Deferred tax assets 1,734,207 3,048,654 446,630
Total current assets 1,610,263,017 1,750,104,704 256,391,789
Non current assets
Equity investments 22,559,975 30,471,237 4,464,061
Film and television cost -- 14,508,195 2,125,463
Property, equipment, and
software, net 169,399,817 244,069,532 35,756,388
Construction in progress 714,083,386 771,265,335 112,991,010
Intangible assets, net 26,188,873 36,930,233 5,410,310
Goodwill -- 116,256,000 17,031,600
Prepayments and other assets 18,702,700 42,516,514 6,228,704
Deferred tax assets 1,090,526 2,895,739 424,228
Total assets 2,562,288,294 3,009,017,489 440,823,553
Liabilities and Shareholders'
Equity
Current liabilities
Accounts payable 13,629,262 92,131,878 13,497,395
Advances from customers 78,388,312 88,944,437 13,030,434
Salary and welfare payable 61,907,164 99,629,630 14,595,823
Taxes payable 20,771,786 35,503,484 5,201,290
Accrued expenses and other
liabilities 24,813,169 40,055,495 5,868,163
Share repurchase liability 386,648,554 -- --
Due to related party -- 5,650,616 827,820
Deferred revenues 223,352,994 280,584,152 41,105,811
Deferred tax liabilities 26,000,000 22,488,342 3,294,561
Deferred government grants 620,000 -- --
Total current liabilities 836,131,241 664,988,034 97,421,297
Deferred revenues 32,554,670 28,479,618 4,172,288
Other long-term payable 28,000,000 -- --
Total liabilities 896,685,911 693,467,652 101,593,585
Shareholders' Equity
Ordinary shares (US$0.0001 par
value, 10,000,000,000 shares
authorized, 72,385,480 Class A
ordinary shares issued and
outstanding, 210,350,565 Class
B ordinary shares issued and
210,147,840 Class B ordinary
shares outstanding as of
December 31, 2008;
10,000,000,000 shares
authorized, 49,171,190 Class A
ordinary shares issued and
outstanding, 199,957,195 Class
B ordinary shares issued and
outstanding as of December
31, 2009) 223,481 198,506 29,081
Additional paid-in capital 1,177,967,483 381,099,428 55,831,382
Treasury stock (391,224,203) -- --
Statutory reserves 94,945,533 181,563,507 26,599,204
Accumulated other comprehensive
loss (65,577,655) (65,453,442) (9,588,983)
Retained earnings 849,267,744 1,799,851,169 263,679,686
Total Perfect World
Shareholders' Equity 1,665,602,383 2,297,259,168 336,550,370
Non-controlling interests -- 18,290,669 2,679,598
Total Shareholders' Equity 1,665,602,383 2,315,549,837 339,229,968
Total Liabilities and
Shareholders' Equity 2,562,288,294 3,009,017,489 440,823,553
Perfect World Co., Ltd.
Consolidated Statements of Operations
Three months ended
December September December December
31, 30, 31, 31,
2008 2009 2009 2009
RMB RMB RMB USD
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues
Online game
operation
revenues 362,597,634 485,875,480 541,773,555 79,370,274
Overseas
licensing
revenues 55,205,269 58,788,775 61,651,444 9,031,988
Film,
television and
other revenues -- 45,329,984 4,474,322 655,492
Total Revenues 417,802,903 589,994,239 607,899,321 89,057,754
Cost of revenues
Online game
related cost (49,344,155) (68,030,548) (79,781,617) (11,688,073)
Film, television
and other cost -- (26,982,463) (1,735,088) (254,192)
Total cost of
revenues (49,344,155) (95,013,011) (81,516,705) (11,942,265)
Gross profit 368,458,748 494,981,228 526,382,616 77,115,489
Operating
expenses
Research and
development
expenses (125,870,657) (71,504,518) (76,912,046) (11,267,678)
Sales and
marketing
expenses (58,622,311) (87,999,196)(124,655,400) (18,262,119)
General and
administrative
expenses (34,416,638) (37,812,217) (48,280,933) (7,073,197)
Total operating
expenses (218,909,606)(197,315,931)(249,848,379) (36,602,994)
Operating
profit 149,549,142 297,665,297 276,534,237 40,512,495
Other
income/(expenses)
Investment loss (468,736) (1,111,787) (1,279,762) (187,486)
Interest income 7,915,676 3,338,023 5,169,231 757,297
Others, net 1,430,694 174,544 7,874,430 1,153,611
Total other
income 8,877,634 2,400,780 11,763,899 1,723,422
Profit before
tax 158,426,776 300,066,077 288,298,136 42,235,917
Income tax
expense (33,617,364) (11,052,958) (17,534,886) (2,568,875)
Net income 124,809,412 289,013,119 270,763,250 39,667,042
Less: Net
income /
(loss)
attributable
to non-
controlling
interests -- 692,008 (86,162) (12,623)
Net income
attributable to
the Company's
shareholders 124,809,412 288,321,111 270,849,412 39,679,665
Net earnings per
share, basic 0.44 1.17 1.09 0.16
Net earnings per
share, diluted 0.42 1.10 1.02 0.15
Net earnings per
ADS, basic 2.22 5.83 5.44 0.80
Net earnings per
ADS, diluted 2.12 5.50 5.09 0.75
Shares used in
calculating
basic net
earnings per
share 281,427,327 247,418,982 248,945,580 248,945,580
Shares used in
calculating
diluted net
earnings per
share 293,724,147 262,334,324 265,982,221 265,982,221
Total share-
based
compensation
cost included
in:
Cost of
revenues (1,082,339) (1,412,278) (1,149,174) (168,355)
Research and
development
expenses (8,472,731) (8,841,744) (11,363,609) (1,664,778)
Sales and
marketing
expenses (1,496,651) (2,085,910) (1,602,599) (234,782)
General and
administrative
expenses (5,717,413) (7,886,096) (7,839,431) (1,148,483)
Year ended
December 31, December 31, December 31,
2008 2009 2009
RMB RMB USD
(Audited) (Unaudited) (Unaudited)
Revenues
Online game
operation
revenues 1,250,959,689 1,879,932,736 275,411,702
Overseas
licensing
revenues 186,218,677 214,625,630 31,442,832
Film, television and
other revenues -- 49,804,306 7,296,372
Total Revenues 1,437,178,366 2,144,362,672 314,150,906
Cost of revenues
Online game
related cost (175,264,350) (271,043,328) (39,708,072)
Film, television and
other cost -- (28,717,551) (4,207,145)
Total cost of
revenues (175,264,350) (299,760,879) (43,915,217)
Gross profit 1,261,914,016 1,844,601,793 270,235,689
Operating
expenses
Research and
development
expenses (227,836,657) (270,355,072) (39,607,242)
Sales and
marketing
expenses (254,484,542) (336,316,211) (49,270,603)
General and
administrative
expenses (102,492,121) (153,684,631) (22,514,926)
Total operating
expenses (584,813,320) (760,355,914) (111,392,771)
Operating profit 677,100,696 1,084,245,879 158,842,918
Other income/(expenses)
Investment loss (1,175,025) (4,088,738) (599,004)
Interest income 35,369,600 15,404,786 2,256,814
Others, net (11,535,587) 10,422,381 1,526,887
Total other
income 22,658,988 21,738,429 3,184,697
Profit before
tax 699,759,684 1,105,984,308 162,027,615
Income tax expense (53,303,570) (68,283,268) (10,003,555)
Net income 646,456,114 1,037,701,040 152,024,060
Less: Net
income /
(loss)
attributable
to non-
controlling
interests -- 499,641 73,198
Net income
attributable to
the Company's
shareholders 646,456,114 1,037,201,399 151,950,862
Net earnings per
share, basic 2.30 4.11 0.60
Net earnings per
share, diluted 2.18 3.86 0.56
Net earnings per
ADS, basic 11.50 20.57 3.01
Net earnings per
ADS, diluted 10.91 19.28 2.82
Shares used in
calculating
basic net
earnings per
share 280,987,729 252,138,828 252,138,828
Shares used in
calculating
diluted net
earnings per
share 296,238,151 269,004,366 269,004,366
Total share-
based
compensation
cost included
in:
Cost of
revenues (3,000,334) (4,983,795) (730,130)
Research and
development
expenses (22,365,703) (36,730,329) (5,381,024)
Sales and
marketing
expenses (4,733,152) (7,290,958) (1,068,131)
General and
administrative
expenses (19,800,642) (28,883,711) (4,231,488)
Perfect World Co., Ltd.
Consolidated Statements of Cash Flows
Three months ended
December 31, September 30, December 31, December 31,
2008 2009 2009 2009
RMB RMB RMB USD
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Cash flows from
operating
activities:
Net income 124,809,412 289,013,119 270,763,250 39,667,042
Adjustments
for:
Share-based
compensation
cost 16,769,134 20,226,028 21,954,813 3,216,398
Depreciation
and
amortization
expense 6,670,886 12,165,961 32,447,920 4,753,647
In-process
research and
development
charge related
to the InterServ
acquisition 78,417,506 -- -- --
Exchange (gain)
/loss (114,698) 253,453 113,749 16,664
Investment loss 468,736 1,111,787 1,279,762 187,486
Loss from
disposal of
property,
equipment, and
software 176,354 506,175 399,425 58,516
Changes in
assets and
liabilities:
Accounts
receivable (4,485,757) (72,045,828) 48,265,298 7,070,906
Current
prepayments
and other
assets 2,129,563 (4,041,415) 9,939,338 1,456,121
Deferred tax
assets (569,103) 188,516 (3,573,707) (523,551)
Film and
television cost -- 18,334,598 (14,508,195) (2,125,463)
Due from/to
related parties -- 2,129,054 (565,138) (82,793)
Non-current
prepayments
and other
assets (16,217,564) 4,514,147 747,629 109,528
Accounts
payable 5,912,994 11,435,763 1,582,299 231,808
Advances from
customers 2,280,085 38,118,600 (26,140,988) (3,829,676)
Salary and
welfare
payable 18,314,010 24,638,316 21,649,640 3,171,690
Taxes payable 632,322 (7,071,562) 8,812,168 1,290,990
Accrued expenses
and other
liabilities (4,410,129) (26,626,737) (1,137,447) (166,637)
Deferred
revenues 23,553,120 14,114,214 3,303,923 484,027
Deferred tax
liabilities 26,000,000 (11,869) 2,741,097 401,573
Deferred
government
grants (980,000) (620,000) (1,450,000) (212,426)
Net cash provided
by operating
activities 279,356,871 326,332,320 376,624,836 55,175,850
Cash flows from
investing
activities:
Purchase of
property,
equipment,
and
software (18,767,278) (59,754,724) (48,302,540) (7,076,362)
Purchase of
intangible
assets (1,351,351) -- (1,313,235) (192,390)
(Increase) /
decrease of
restricted
cash (150,361,200) -- -- --
Cash paid for
the assets
acquisition (102,852,002) -- -- --
Cash paid for
equity
investments -- -- -- --
Cash paid for
business
acquisitions,
net of cash
acquired -- -- -- --
Purchase of
short-term
investments -- (30,000,000) -- --
Maturities of
short-term
investments -- -- 40,000,000 5,860,033
Increase in
loan receivable -- -- -- --
Decrease in
loan
receivable -- 3,000,000 3,780,000 553,773
Net cash used
in investing
activities (273,331,831) (86,754,724) (5,835,775) (854,946)
Cash flows from
financing
activities:
Exercise of
share options 1,393,628 8,722,777 2,304,395 337,596
Repurchase of
Company shares (4,575,649) -- -- --
Net cash (used
in) / provided
by financing
activities (3,182,021) 8,722,777 2,304,395 337,596
Effect of
exchange rate
changes on cash
and cash
equivalents 424,155 (40,868) 87,971 12,888
Net increase /
(decrease) in
cash 3,267,174 248,259,505 373,181,427 54,671,388
Cash and cash
equivalents,
beginning of
the period 1,329,808,557 945,724,224 1,193,983,729 174,919,605
Cash and cash
equivalents,
end of the
period 1,333,075,731 1,193,983,729 1,567,165,156 229,590,993
Supplemental
schedule of
non-cash
financing
activities:
Share
repurchase
from SAIF (386,648,554) -- -- --
Supplemental
disclosures of
cash flow
information:
Cash paid
during the
period for
income taxes (7,814,467) (3,984,669) (16,849,182) (2,468,419)
Year ended
December 31, December 31, December 31,
2008 2009 2009
RMB RMB USD
(Audited) (Unaudited) (Unaudited)
Cash flows from
operating
activities:
Net income 646,456,114 1,037,701,040 152,024,060
Adjustments for:
Share-based
compensation cost 49,899,831 77,888,793 11,410,773
Depreciation and
amortization
expense 22,130,217 65,059,775 9,531,311
In-process
research and
development
charge related to
the InterServ
acquisition 78,417,506 -- --
Exchange (gain) /
loss 12,187,231 758,889 111,178
Investment loss 1,175,025 4,088,738 599,004
Loss from
disposal of
property,
equipment, and
software 176,354 956,566 140,138
Changes in assets
and liabilities:
Accounts
receivable (22,103,425) (52,172,840) (7,643,362)
Current
prepayments and
other assets (11,922,267) (15,648,807) (2,292,563)
Deferred tax
assets (1,365,895) (3,160,677) (463,042)
Film and
television cost -- 1,081,731 158,474
Due from/to
related parties -- 1,563,916 229,115
Non-current
prepayments and
other assets (16,858,536) 3,629,432 531,715
Accounts payable (831,337) 40,616,081 5,950,289
Advances from
customers 28,715,928 8,599,884 1,259,890
Salary and
welfare payable 30,996,508 36,583,927 5,359,576
Taxes payable 7,396,894 14,781,543 2,165,508
Accrued expenses
and other
liabilities 8,517,394 7,586,190 1,111,383
Deferred revenues 113,312,411 53,746,697 7,873,936
Deferred tax
liabilities 26,000,000 (3,511,658) (514,461)
Deferred
government grants (480,000) (620,000) (90,831)
Net cash provided
by operating
activities 971,819,953 1,279,529,220 187,452,091
Cash flows from
investing
activities:
Purchase of
property,
equipment, and
software (759,612,288) (164,031,139) (24,030,698)
Purchase of
intangible assets (1,351,351) (4,829,155) (707,475)
(Increase) /
decrease of
restricted cash (150,361,200) 145,351,724 21,294,148
Cash paid for the
assets
acquisition (102,852,002) -- --
Cash paid for
equity
investments (23,735,000) (10,000,000) (1,465,008)
Cash paid for
business
acquisitions, net
of cash acquired -- (172,199,707) (25,227,400)
Purchase of
short-term
investments (50,000,000) (70,000,000) (10,255,058)
Maturities of
short-term
investments -- 90,000,000 13,185,074
Increase in loan
receivable -- (3,000,000) (439,502)
Decrease in loan
receivable -- 9,980,000 1,462,078
Net cash used in
investing
activities (1,087,911,841) (178,728,277) (26,183,841)
Cash flows from
financing
activities:
Exercise of share
options 3,836,884 14,615,293 2,141,153
Repurchase of
Company shares (4,575,649) (881,456,089) (129,134,047)
Net cash (used
in) / provided by
financing
activities (738,765) (866,840,796) (126,992,894)
Effect of
exchange rate
changes on cash
and cash
equivalents (46,126,609) 129,278 18,939
Net increase /
(decrease) in
cash (162,957,262) 234,089,425 34,294,295
Cash and cash
equivalents,
beginning of the
period 1,496,032,993 1,333,075,731 195,296,698
Cash and cash
equivalents, end
of the period 1,333,075,731 1,567,165,156 229,590,993
Supplemental
schedule of non-
cash financing
activities:
Share repurchase
from SAIF (386,648,554) -- --
Supplemental
disclosures of
cash flow
information:
Cash paid during
the period for
income taxes (23,288,291) (54,963,960) (8,052,266)
Perfect World Co., Ltd.
Reconciliation of GAAP and Non-GAAP Results
Three months ended
December 31, September 30, December 31, December 31,
2008 2009 2009 2009
RMB RMB RMB USD
GAAP operating profit 149,549,142 297,665,297 276,534,237 40,512,495
Share based
compensation charge 16,769,134 20,226,028 21,954,813 3,216,398
In-process research and
development charge
related to the
InterServ acquisition
in October 2008 78,417,506 -- -- --
Non-GAAP operating
profit 244,735,782 317,891,325 298,489,050 43,728,893
GAAP net income
attributable to the
Company's shareholders 124,809,412 288,321,111 270,849,412 39,679,665
Share based
compensation charge 16,769,134 20,226,028 21,954,813 3,216,398
In-process research and
development charge
related to the
InterServ acquisition
in October 2008 78,417,506 -- -- --
Non-GAAP net income
attributable to the
Company's shareholders 219,996,052 308,547,139 292,804,225 42,896,063
GAAP net earnings per
ADS
- Basic 2.22 5.83 5.44 0.80
- Diluted 2.12 5.50 5.09 0.75
Non-GAAP net earnings
per ADS
- Basic 3.91 6.24 5.88 0.86
- Diluted 3.74 5.88 5.50 0.81
ADSs used in
calculating net
earnings per ADS
- Basic 56,285,465 49,483,796 49,789,116 49,789,116
- Diluted 58,744,829 52,466,865 53,196,444 53,196,444
Year ended
December 31, December 31, December 31,
2008 2009 2009
RMB RMB USD
GAAP operating profit 677,100,696 1,084,245,879 158,842,918
Share based compensation charge 49,899,831 77,888,793 11,410,773
In-process research and
development charge related to
the InterServ acquisition in
October 2008 78,417,506 -- --
Non-GAAP operating profit 805,418,033 1,162,134,672 170,253,691
GAAP net income attributable to
the Company's shareholders 646,456,114 1,037,201,399 151,950,862
Share based compensation charge 49,899,831 77,888,793 11,410,773
In-process research and
development charge related to
the InterServ acquisition in
October 2008 78,417,506 -- --
Non-GAAP net income attributable
to the Company's shareholders 774,773,451 1,115,090,192 163,361,635
GAAP net earnings per ADS
- Basic 11.50 20.57 3.01
- Diluted 10.91 19.28 2.82
Non-GAAP net earnings per ADS
- Basic 13.79 22.11 3.24
- Diluted 13.08 20.73 3.04
ADSs used in calculating net
earnings per ADS
- Basic 56,197,546 50,427,766 50,427,766
- Diluted 59,247,630 53,800,873 53,800,873
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang
Investor Relations Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
Web: http://www.pwrd.com/
Roger Hu
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: rhu@christensenir.com
Source: Perfect World Co., Ltd.
CONTACT: Vivien Wang, Investor Relations Officer of Perfect World Co.,
Ltd., +86-10-5885-1813, Fax +86-10-5885-6899, ir@pwrd.com; or Kathy Li,
+1-480-614-3036, Fax +1-480-614-3033, kli@christensenir.com, or Roger Hu,
+852-2117-0861, Fax +852-2117-0869, rhu@christensenir.com, both of Christensen
Investor Relations
Identive Group Announces Further Cost Reductions at Board & Executive Levels
ASHOUR APPOINTED CHIEF EXECUTIVE OFFICER, MARX APPOINTED CHIEF OPERATING OFFICER, INVESTOR & ANALYST CONFERENCE CALL SCHEDULED FOR MARCH 11
SANTA ANA, Calif. and ISMANING, Germany, March 1 -- SCM Microsystems d.b.a Identive Group (Nasdaq: INVE; Frankfurt Stock Exchange: INV), a provider of products, services and solutions for the security, identification and RFID industries, today announced further significant reduction in costs at the Board of Directors and executive management levels.
Independent directors Dr. Boersch and Mr. Wenzel waived their right to receive any form of compensation from the company for 2010 and independent directors Mr. Douglas Morgan, Dr. Hans Liebler and Mr. Steven Humphreys have agreed not to receive any compensation of any type after March 31, 2010 as an important contribution of their commitment to the cost reduction program of the company. Additionally Dr. Boersch and Mr. Morgan agreed not to stand for election at the upcoming Annual General Meeting of the company to reduce the size and ongoing costs of the Board of Directors.
Further, the existing employment agreements of Mr. Felix Marx and Dr. Manfred Mueller have been terminated by mutual consent and both Mr. Marx and Dr. Mueller have agreed to enter into new employment agreements with Identive at significantly lower fixed costs. Under his new employment agreement Mr. Marx will serve as the company's Chief Operating Officer. In this role Mr. Marx shall be responsible for the operational management of the business units of the group with specific focus on driving organic growth of the company. Dr. Mueller will retain his roles as Executive Vice President of Identive Group and as CEO of the SCM Microsystems business unit under the terms of his new employment agreement.
Ayman S. Ashour, Executive Chairman of the Board, will assume the dual roles of CEO and Chairman of the Board of Identive Group. Additionally, the Board of Directors is expected to appoint a Lead Independent Director.
2010 Executive Compensation Plan
Identive also announced that its compensation committee is developing a new compensation plan for its executive management for the fiscal 2010 year that includes a higher proportion of variable compensation in the form of restricted stock, cash and stock options. Under the new plan, variable compensation is intended to reward the executive management based on corporate performance in a manner that aims to align executive compensation closely with the interests of the Company's stockholders. The Company will seek stockholder approval for the plan at the upcoming annual meeting.
Ayman Ashour commented, "I am very thankful to our directors for supporting our commitment to cost reduction and for their sending a clear and unequivocal message internally and externally about their belief in Identive Group and their willingness to sacrifice. Dr. Boersch, founder and CEO of our largest stockholder, Mountain Partners Group, has led by example in first agreeing to receive no Board compensation and in insisting on not accepting nomination at the upcoming annual meeting. We are thankful for his commitment and trust, and we are similarly thankful for Mr. Morgan's contribution and in particular for his support in securing the rights of the Company in relation to its investment in TranZfinity." Ashour added: "The costs associated with the independent Board members last year were over US$ 250,000; with these changes we expect to reduce them by at least two thirds."
Commenting on the new executive appointments Ashour added, "I am very much looking forward to continuing to work closely with Felix Marx as COO. We have operated as such from day one of our coming together and this alignment of the roles came at the request of Felix. Felix is a terrific organic growth leader with vision, tremendous industry knowledge and is very well known in our industry. We will together focus on completing the turnaround and to build the signature company in secure ID. I am also very pleased that Manfred Mueller will now have a focused role running our SCM business unit and believe that the SCM team under Manfred's leadership with a new range of convergence products and the newly launched thumb-sized PIV readers will contribute positively to Identive Group in 2010."
Felix Marx, COO of Identive Group stated, "Our cost reduction efforts have been more visible in the financial press but in the industry we are making very important inroads to accelerate further our growth. Our high quality RFID inlay manufacturing unit TagStar Systems has more than doubled its production capacity and we have expanded our sales resources in identity management within both Hirsch and Multicard. Our newly launched products in the reader area under the SCM brand and in payment systems under the Mybility brand are receiving excellent customer feedback." Marx further added, "We are in a unique position in our industry and it is very exciting to be part of a leadership team that is building the signature company in identity management and identification technologies."
Guidance Call March 11, 2010
The company has announced it will be providing forward guidance with an initial analyst and investor call on March 11, 2010 at 8:00 AM EST / 1400 CET and at subsequent events in California and Germany. More information about the call and meetings will be provided closer to the events.
About Identive Group
Identive Group (NASDAQ: INVE; Frankfurt Stock Exchange: INV) is an international technology group focused on building the world's signature company in secure identification-based technologies. Through its group of recognized brands, Identive provides leading-edge products and solutions in the areas of physical and logical access control, identity management and RFID systems to governments, commercial and industrial enterprises and consumers. The organization's growth model is based on a combination of disciplined acquisitive development and strong technology-driven organic growth from its member companies. For additional info visit: http://www.identive-group.com
Note: This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include, without limitation, statements about the expected cost savings related to changes in our executive compensation plan and to the compensation of Felix Marx and Manfred Mueller, in particular, and from reductions in the size of the Board and the agreement of directors not to accept compensation for all or part of fiscal 2010. These statements are based on current expectations or beliefs, as well as a number of assumptions about future events that are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated herein. The cost reduction measures described in this press release may not result in as significant savings as expected. Readers should not unduly rely on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of risks and uncertainties, many of which are outside our control, which could cause our actual business and operating results to differ. These risks and uncertainties include, but are not limited to, our ability to identify and take action on appropriate areas for consolidation, streamlining or other cost reduction; and our ability to continue to retain and motivate key management and employees during the processes of business integration and cost reduction. For a discussion of further risks and uncertainties related to our business, please refer to our public company reports, including our Annual Report on Form 10-K for the year ended December 31, 2008 and subsequent reports filed with the U.S. Securities and Exchange Commission for SCM Microsystems, Inc.
Source: Identive Group
CONTACT: United States, Darby Dye, +1-949-553-4251,
ddye@identive-group.com; or Europe, Fabien B. Nestmann, +41 44 783 8043,
fnestmann@identive-group.com