BUSINESS WIRE / ME NewsWire SAN FRANCISCO - Tuesday, October 30th 2012
“Past practice” royalties waived for companies taking advantage of a license in Via’s LTE standard essential patent licensing program by April 12, 2013
Via Licensing Corporation today announced an “early-adopter” incentive for initial signing licensees of its LTE (Long-Term Evolution) patent pool announced earlier this month. Any entity that executes the LTE patent license with Via by April 12, 2013, will benefit from a waiver of license fees (and interest) that would have been due for products sold prior to October 15, 2012, implementing the LTE standard.
“Our early-adopter incentive provides great value to licensees that have already been delivering LTE products to the market,” said John Ehler, Director of Wireless Programs, Via Licensing. “This limited-time incentive offers a significant cost savings for companies that need access to the broad coverage of LTE essential patents provided through the pool.”
Full details of the incentive and the complete terms of the license agreement can be obtained directly from Via Licensing. Parties manufacturing or selling LTE devices or components and other implementers of the LTE standard should contact Via by visiting http://vialicensing.com/lte/index.aspxor by sending an email message to firstname.lastname@example.org obtain more information about the LTE patent pool and to request an LTE Patent License Agreement.
AT&T, Clearwire Corporation, Deutsche Telekom AG, DTVG Licensing, HP, KDDI Corporation, NTT DOCOMO, SK Telecom, Telecom Italia, Telefónica, and ZTE Corporation are the initial companies that have agreed to offer their essential LTE patents through Via Licensing’s patent pool. Via’s LTE patent pool provides convenient access to the LTE essential IP of the participating companies in a single, cost-effective transaction.
Participation as a licensor in the LTE licensing program is open to all owners of LTE essential patents. Any party that believes they hold a patent essential to the LTE standard is encouraged to submit the patent for evaluation and, once qualified, to offer their essential patents through the LTE patent pool.
About Via Licensing Corporation
Via Licensing Corporation is a wholly owned subsidiary of Dolby Laboratories Inc. (NYSE: DLB), a company with more than 40 years of experience in technology licensing.
Via Licensing is dedicated to the development and administration of licensing programs for mandated, de facto, and emerging standards on behalf of innovative technology companies in the audio, broadcast, wireless, and automotive markets. For more information about Via Licensing Corporation, please visit vialicensing.com.
Via Licensing Corporation
Sean Durkin, +1 415-645-5176
Jay Nichols, +1 408-772-1551
ME Newswire / Business Wire
LONDON - Tuesday, October 30th 2012
Ernst & Young supports the recommendations in the report released yesterday by the Financial Stability Board’s (FSB) private sector Enhanced Disclosure Task Force (EDTF) initiative. The EDTF was convened in May 2012 with the objectives of developing principles for enhanced disclosures for banks, based on current market conditions and risks, and identifying leading practice risk disclosures among banks.
The EDTF was unique in its approach by bringing together interested constituents in the process - preparers, investors, rating agencies and auditors - to work toward solutions to enhance disclosures that benefit the investing public.
Ernst & Young encourages all affected stakeholders to carefully consider and work to implement the recommendations of the EDTF. We believe these recommendations are an important step to improving confidence in global systemic financial institutions and financial institutions more broadly, which is fundamental to economic recovery and growth around the world.
“The FSB EDTF has been an important undertaking. I am pleased Ernst & Young participated in this effort and supports the recommendations of this report. Our profession’s role in contributing to the public’s trust in the world’s capital markets has never been more important and efforts such as this are central to the role Ernst & Young has as auditors of or advisors to, many financial institutions”, said Jim Turley, Global Chairman and CEO of Ernst & Young.
Notes to editors
The EDTF report is available: https://www.financialstabilityboard.org
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transactions and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Ernst & Young
Office: +44 (20) 7980 0402
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Collaboration to utilize respective strengths of each organization
BUSINESS WIRE / ME NewsWire HOUSTON - Tuesday, October 30th 2012
KBR (NYSE:KBR) and Southern Company subsidiary, Southern Generation Technologies, today announced a cooperation agreement through which both organizations will collaborate in an effort to expand the global adoption of Transport Integrated Gasification – or TRIG™ – technology.
Under the terms of this agreement, KBR will lead the sale and delivery of all TRIG™ licenses worldwide, including those for power applications. KBR will provide sales, delivery and project management capabilities, and KBR’s Technology Business Unit will be supported in the power market by its Power Business Unit for the delivery of services. Southern Company’s subsidiary will provide operating and engineering expertise, along with ongoing research and development and technical support.
“This new collaboration between KBR and Southern Company will utilize the respective strengths of each organization to deploy commercial TRIG™ licensed processes worldwide and accelerate the adoption of TRIG™ in the marketplace,” said Bill Utt, KBR Chairman, President & CEO. “Expanding the licensing rights of the technology to encompass power projects now positions KBR into a larger market. This agreement expands KBR’s Technology Business Unit portfolio and is consistent with KBR’s strategy to grow its technology business consistent with the needs of the market.”
TRIG™ technology was jointly developed by KBR and Southern Company with the support of the U.S. Department of Energy. KBR is presently a technology licensor of TRIG™ processes for industrial applications and demonstrates particular strengths in the global sale, marketing, packaging and delivery of technology licenses. Southern Company subsidiary, Southern Generation Technologies, is a technology licensor of TRIG™ for the power industry and specializes in the development, design, deployment and operation of this technology.
“Southern Company is an industry leader in energy innovation,” said Southern Company Chairman, President and CEO Thomas A. Fanning. “Through our continued collaboration with KBR, we are developing and making available real solutions to generate clean, safe, reliable and affordable power – across America and around the world.”
With 4.4 million customers and more than 43,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices below the national average. Southern Company also is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas rankings. Visit our website at www.southerncompany.com.
KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power, industrial, and commercial markets. For more information, visit www.kbr.com.
Zac Nagle, 713-753-3625
Investor Relations and Communications
Director, Corporate Communications
Media Relations Hotline: 713-753-3800
Business Wire / ME Newswire
LAKE MARY, Fla. - Monday, October 29th 2012
Harland Financial Solutions announced today its alliance with South Africa-based IZAZI Analytics. IZAZI’s expertise in process and business analysis and in-depth knowledge of the financial industry, combined with Harland Financial Solutions’ CreditQuest® software solution, will provide organizations with a complete credit risk management solution that successfully aligns with their business processes.
CreditQuest is a suite of integrated solutions that are built around the unique needs of credit management. It brings financial analysis, portfolio management, executive reporting, rating model administration and workflow management together into one system that can be deployed as a full suite or individually, depending on the specific needs of the organization. Harland Financial Solutions offers CreditQuest worldwide and has clients in the U.S., Europe, the Middle East and Africa.
“The IZAZI Analytics team brings a strong risk management and software support skill set to our offering for banks and financial institutions in South Africa. IZAZI Analytics will help us provide financial organizations in South Africa with superior end-to-end credit risk management solutions tailored to their unique needs,” said Noel Gilmer, managing director of Harland Financial Solutions Worldwide.
“We are delighted to be working with Harland Financial Solutions to combine our expertise in process and business analysis and consulting with their experience in providing powerful credit risk management software,” said Walter Stevens, CEO of IZAZI Analytics.
About Harland Financial Solutions
Harland Financial Solutions, Inc. (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. It is a leader in core systems, business intelligence, branch automation, payment processing, enterprise content management, lending solutions, risk management, compliance, financial accounting, mortgage solutions, and self-service solutions. The company is an indirect wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke, Scantron and Faneuil.
IZAZI Solutions is a leading provider of technology enabled business solutions with a key focus on the banking industry. IZAZI has a remarkable track record in providing customized, innovative and efficient solutions for clients, enabling them to realize tangible "bottom line" results from their technology investments. IZAZI currently consults to the majority of South Africa’s banking industry and has a growing presence in the banking industry globally.
The information contained in this press release is accurate at the time of publication. However, service offerings and availability, relationships, contacts and other specified information may change over time.
Harland Financial Solutions
Stacey Leone, 407-804-6653
Director, Public Relations
Donna Hinkelman, 210-694-1034
VP, Corporate Communications
BUSINESS WIRE / ME NewsWire IRVINE, Calif. - Monday, October 29th 2012
Appointment of Prominent Commercial Nuclear Executive Completes Kurion’s Board Expansion
Kurion, Inc., an innovator in nuclear, mixed and hazardous waste management, announced today the appointment of Dr. Aris S. Candris to its board of directors. Dr. Candris is the fourth outside director to join the company’s board in the last two months.
“I’m delighted to welcome Dr. Candris to Kurion’s board of directors,” said John Raymont, Kurion founder and CEO. “His decades of experience in the global commercial nuclear industry will give Kurion important insight into the distinct needs of this growing sector as we seek to expand our commercial nuclear waste management business.”
Dr. Candris is a notable executive and worldwide leader in the commercial nuclear industry. He spent more than 35 years at Westinghouse Electric Co., most recently as president and CEO, until his retirement in March 2012. His prior roles at Westinghouse include senior vice president of the nuclear fuel and nuclear services business units. Candris holds a doctorate and a master of science degree in nuclear engineering from Carnegie Mellon University and a bachelor of arts degree from Transylvania University. He also serves on the boards of directors of NiSource (NYSI:NI), the Nuclear Energy Institute, the World Nuclear Association, and Pittsburgh's Allegheny Conference on Community Development; he is a member of the boards of trustees for Carnegie Mellon University, Transylvania University, and the Pittsburgh Cultural Trust; and he serves on the advisory board of the Carnegie Institute of Technology.
“The appointment of Dr. Candris completes the current expansion of Kurion’s board,” said Ralph DiSibio, Kurion’s chairman of the board. “Dr. Candris complements Kurion’s executive team and board of advisors, providing valuable experience and relationships in the commercial nuclear sector.”
KURION PROVIDES INNOVATIVE, EASILY DEPLOYABLE TECHNOLOGIES TO ACCELERATE PROJECT PERFORMANCE AND COMPLIANCE AND SUBSTANTIALLY REDUCE CUSTOMER RADIOACTIVE WASTE MANAGEMENT LIFE-CYCLE COSTS. FOUNDED IN 2008, KURION IS BACKED BY LEADING ENERGY INVESTORS LUX CAPITAL, FIRELAKE CAPITAL MANAGEMENT AND ACADIA WOODS PARTNERS. HEADQUARTERED IN IRVINE, CALIF., KURION OPERATES A TECHNOLOGY DEVELOPMENT CENTER AT ITS RADIOACTIVE MATERIALS LICENSED FACILITY IN OAK RIDGE, TENN., TWO FACILITIES IN RICHLAND, WASH., FOR TESTING, EQUIPMENT STORAGE, ENGINEERING AND “COLD” NON-RADIOACTIVE TESTING, AND PERFORMS “HOT” RADIOACTIVE TESTING AT PNNL IN RICHLAND, WASH. FOR MORE INFORMATION, PLEASE VISIT WWW.KURION.COM.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50457117&lang=en
For Kurion, Inc.
Katie Wood Znameroski
Phone: +1 650-801-7952
HOUSTON - Friday, October 26th 2012 [ME NewsWire]
(BUSINESS WIRE)-- Schlumberger Limited (NYSE:SLB) will hold a conference call on January 18, 2013 to discuss the results for the fourth quarter and full year ending December 31, 2012.
The conference call is scheduled to begin at 9:00 a.m. (US Eastern Time) – 3:00 p.m. (Paris time). A press release regarding the results will be released prior to the call that same day.
To access the conference call, listeners should contact the Conference Call Operator at +1-800-230-1059 within North America or +1-651-291-5254 outside of North America approximately 10 minutes prior to the start of the call, and ask for the “Schlumberger Earnings Conference Call.”
A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcaston a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcastuntil February 18, 2013, and can be accessed by dialing +1-800-475-6701 within North America or +1-320-365-3844 outside of North America, and giving the access code 269201.
Schlumberger is the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing more than 115,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry’s widest range of products and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston and The Hague and reported revenues of $36.96 billion in 2011. For more information, visit www.slb.com.
Malcolm Theobald, +1-713-375-3535
Vice President of Investor Relations
Joy V. Domingo, +1-713-375-3535
Manager of Investor Relations
ME Newswire / Business Wire
HONG KONG & ATLANTA - Friday, October 26th 2012
On September 6, 2012, the U.S. Bankruptcy Court for the Northern District of Georgia (the “Court”) entered an order (the “Confirmation Order”) confirming the Second Amended Joint Plan of Reorganization of CDC Corporation (the “Amended Reorganization Plan”). The Amended Reorganization Plan contemplates, inter alia, the sale or disposition of all of CDC Corporation’s (“CDC” or the “Company”) Assets for the benefit of its Creditors and Eligible Equity Interest Holders.
Under such plan, Mr. Marcus A. Watson, the Company’s Chief Restructuring Officer (“CRO”), will act as the Disbursing Agent and reserve sufficient funds from the sale proceeds of the Company’s Assets to pay all Allowed Claims in full. All of the Company’s remaining Assets will be transferred to a liquidation trust (the “Liquidation Trust”) to be liquidated for the benefit of the holders of Allowed Equity Interests pursuant to the Amended Reorganization Plan. Upon establishment of the Liquidation Trust, Mr. Watson will be the initial Liquidation Trustee who is granted the authority to sell and/or dispose of the Trust Assets in an expeditious but orderly manner.
CDC Corporation’s remaining Assets consist primarily of the following:
a 74.2% equity interest in China.com, Inc. (“China.com”), which is listed on the Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange (HK: 8006)
100% ownership of certain URLs, including china.com; hongkong.com; and taiwan.com
a 100% equity interest in CDC Games, which owns a 19.9% equity interest in Menue, Inc.
a 100% indirect equity interest in DAE Advertising
CDC Corporation owns a 74.2% equity interest in China.com (HK: 8006), with the remaining equity interests owned by non-affiliated shareholders. China.com’s operations and assets are summarized as follows:
The listing status of China.com in the Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange with the ticker symbol “8006.”
Cash and cash equivalents of USD$30.4 million as of June 30, 2012
The Travel Media segment, a publisher and event organizer for the travel and tourism market in the Asia Pacific region, which had Revenues of USD$11.8 million and a Reportable Segment Profit of USD$2.3 million for the 12 months ended June 30, 2012.
The Internet Portal segment, a provider of internet content, internet search and online advertising services, which had Revenues of USD$5.2 million and a Reportable Segment Loss of USD$(0.9) million for the 12 months ended June 30, 2012.
Limited partner interests in:
i. Two reputable Cayman Islands private equity funds, including a USD$14.0 million commitment (at cost) for which USD$12.4 million has been funded to date, and a USD$4.0 million commitment (at cost) for which USD$50,000 has been funded to date.
ii. A limited partner interest in a reputable Delaware venture capital fund which is represented by a USD$1.0 million commitment (at cost) for which USD$1.0 million has been funded to date.
CDC believes that the fair market value of these three limited partner interests, in aggregate, exceed the costs basis of these commitments.
CDC Corporation owns the URL domains of “china.com,” “hongkong.com,” and “taiwan.com.” The URL china.com is owned by CDC Corporation and is currently licensed to China.com for USD$1 per year for use in its business operations under an automatically renewing annual licensing agreement which grants China.com the non-transferable right to utilize the domain name in connection with the operation of its internet portal segment. The URLs hongkong.com and tawian.com are currently not utilized in any revenue-generating capacity.
CDC Corporation owns a 100% equity interest in CDC Games, a publisher and operator of online games in China. CDC Games’ assets include a 19.9% equity interest in Menue, Inc., based in Tokyo, which is a leading mobile content provider in the Japanese digital comic market.
CDC Corporation owns a 100% indirect equity interest in DAE Advertising, based in San Francisco, which is a full service advertising agency specializing in multicultural marketing with a focus on Asian America.
After a detailed review of its ownership interests in conjunction with its financial advisor, the Company has determined that it will explore monetization alternatives for its entire 74.2% ownership interest in China.com. However, in the event that the Company is not able to maximize the value of its 74.2% ownership interest in a single sale transaction, the Company will consider divestiture or liquidation alternatives, in conjunction with the Board of Directors of China.com, for each of China.com’s respective assets.
CDC Corporation has retained Moelis & Company as its Exclusive Financial Advisor in conjunction with its ongoing Chapter 11 bankruptcy proceedings in the United States, as well as with respect to the sale or disposition of its remaining assets including its 74.2% equity stake in China.com. Inquiries can be directed to John Joliet, Managing Director, Moelis & Company at email@example.com at +1 310.443.2328.
This Press Release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook," or similar expressions. Additionally, forward-looking statements may include statements regarding: (i) any course of action the Company may take in the future with respect to the Bankruptcy Proceeding, including, without limitation, any considerations, procedures, or timelines relating to the Second Amended Joint Plan of Reorganization of CDC Corporation which may be subject to change; (ii) any statements relating to the Sale/Distribution Process; (iii) any course of action the Company may take in the future with respect to the sale or disposition of any of its assets; (iv) the Company’s beliefs regarding the fair market value of its investments; and (v) other matters or events that are not historical fact, the achievement of which involve risks, uncertainties and assumptions, many of which are beyond the Company's control. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, the Company's results could differ materially from the results expressed or implied by the forward-looking statements contained herein. All forward-looking statements included in this Press Release are based upon information available to management as of the date of this Press Release, and you are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this Press Release. The Company assumes no obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise. For these and other reasons, investors are cautioned not to place undue reliance upon any forward-looking statement in this Press Release.
Moelis & Company
John Joliet, +1 310-443-2328
BUSINESS WIRE / ME NewsWire LONDON & NEW YORK - Friday, October 26th 2012
Deployment of capital by private equity funds has slowed down even in emerging markets
However, most fund managers remain cautiously optimistic andexpect new funds to raise as much or more capital as previous funds
Real estate private equity fund managers around the world continue to face major challenges stemming largely from ongoing illiquidity within the capital markets. This has left few able to secure bank financing and stifled deal flow, according to Global Market Outlook: Trends in real estate private equity, a new report by Ernst & Young. The report, based on a survey of 300 global real estate funds, found that even in heavily favored emerging markets, like Brazil and India, deployment of capital by private equity funds has slowed down. This is largely because of the Eurozone crisis and the uncertainty it has brought to markets around the world. The one exception is Russia, where domestic banks continue to fund transactions and new development despite their already high exposure to real estate, providing local investors with the means to execute transactions.
Mark Grinis, Global Real Estate Fund Practice Leader at Ernst & Young comments, “The still tough global financing market has had a dampening effect on real estate funds but there have been other challenges too, most notably in the significant structural and cultural changes funds are having to navigate coming out of the recession.”
The challenges outlined in the report include: tougher regulatory requirements imposed on fund managers – such as the Alternative Investment Fund Manager Directive (AIMFD) in Europe and the Dodd-Frank Act in the US — and tighter ‘regulation’ from investors in the form of calls for greater transparency and oversight on their investments. The real estate fund managers highlighted several key challenges for them to get a new fund to its first close, 52% responded that investors required greater due diligence before committing to the fund. Fifty-four percent of respondents also cited agreement on deal terms and fees as the biggest stumbling block. According to Grinis, although these challenges have caused short term pain for many fund managers, the outlook for most from this structural change is a much more efficient, transparent and scalable platform from which to build future growth.
“This is a period during which creative investors can thrive,” says Grinis. “Real estate fund managers that can successfully navigate the current changes, including demands from investors for greater transparency and lower fees, and who can devise and offer creative niche solutions for investors moving forward will have a key differentiator in the next phase of market growth,” he adds.
Real estate fund managers have already seen this. The report details two clear trends — the emergence in the US market of funds created to take advantage of investment opportunities in the single family residential market, and the growing appeal of senior debt funds. Senior debt funds are particularly showing appeal in markets like China, where banks are more limited by regulation than liquidity, and Europe where there is a need for alternative financing. And, in spite of the challenges, fund managers clearly remain cautiously optimistic. When asked if their next fund would raise more, the same or less capital than the last, an overwhelming majority (more than 71%) predicted raising about the same or more with less than 29% expecting to raise less than the prior fund.
Operational efficiency and performance improvement is critical for funds moving forward, according to the report. “The back office is no longer back-of-mind,” says Grinis. “In the face of declining fees, increased regulatory costs and investor demands for greater transparency, funds are far more focused today on performance, efficiency and cost control,” he adds. About a third of fund managers surveyed indicated that operating costs have risen by more than 5% as a result of compliance with new regulatory regimes such as AIMFD and the Dodd-Frank Act. Another 38% have yet to calculate that cost and just under a third estimated that costs have risen less than 5%. In an effort to control costs, more funds are looking to outsource functions like property management, property and fund accounting and fund administration and reporting. Funds are also increasingly looking to lower cost options offshore for some of these outsourced functions.
One potential area of opportunity for fund managers could be the growing global involvement in real estate investing of sovereign wealth funds (SWF). Over half of the respondents to the survey are already working with SWFs. The clear trend among these investors is to opt for separate account or joint venture (JV) relationships with fund managers rather than the typical commingled fund arrangement. Twenty-two percent of respondents indicated they had separate account or JV relationships compared with just 5% who counted an SWF investor in one of their fund vehicles. Fund managers flexible enough to embrace the separate account structure or JVs, and also accommodate SWFs’ often unique transparency and disclosure requirements, have a definite advantage in attracting SWF capital.
In addition to an overall discussion of the global fund sector, this year’s report includes analysis of the major emerging markets – Brazil, Russia, India and China.
To download the complete report or to access sections relating to these countries specifically, visit www.ey.com/us/realestate.
About Ernst & Young’s Global Real Estate Center
Today’s real estate industry must adopt new approaches to address regulatory requirements and financial risks, while meeting the challenges of expanding globally and achieving sustainable growth. Ernst & Young’s Global Real Estate Center brings together a worldwide team of professionals to help you achieve your potential — a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help you meet your goals and compete more effectively. It’s how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com.
This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.
Ernst & Young Global Media Relations
+ 44 20 7951 8837
Gallen Neilly Associates
Andrew Neilly/Tim Gallen
+1 925 930 9848
New UtilityIQ™ Software Offering Broadens Choice For Customers Worldwide
RIO DE JANEIRO & REDWOOD CITY, Calif. - Friday, October 26th 2012 [ME NewsWire]
(BUSINESS WIRE)-- Today at the SENDI Brazil 2012 Conference, Silver Spring Networks, a leading networking platform and solutions provider for smart energy networks, unveiled enhanced standards support for Latin America, Europe, Asia, and other international markets with the latest version of its UtilityIQ™ 4.7 AMM application. The new offering includes native support for the DLMS/COSEM protocol, the accepted IEC (International Electrotechnical Commission) standard for utility meter data exchange, and expanded language support for Brazilian Portuguese. Silver Spring’s IPv6-based networking platform already connects more than 12 million homes and businesses worldwide. These additions extend Silver Spring’s leadership in offering the market’s broadest range of device choice, eliminating vendor lock-in and delivering the full promise of open systems.
“We are in the midst of a global transformation in energy that will have profound operational, societal and economic benefits,” said Eric Dresselhuys, Executive Vice President of Global Development, Silver Spring Networks. “Addressing this enormous opportunity will require broad support for appropriate international standards to ensure that our customers have the flexibility and choice to realize all of the benefits from our ‘one platform, many applications’ approach.”
These new capabilities also enable a broader ecosystem of international industry partners to rapidly integrate and interoperate with Silver Spring technologies, giving customers even greater choice and diversity. With more than 60 partners globally and growing, the Silver Spring Partner Program is delivering comprehensive smart grid solutions for customers around the world. For more details on partnering with Silver Spring Networks please visit www.silverspringnet.com/partners.
The new UtilityIQ 4.7 Advanced Metering Manager with expanded international support will be available later this quarter. For more information please visit www.silverspringnet.com/utilityiq.
Join the Silver Spring Networks Conversation
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Like Silver Spring Networks on Facebook at www.facebook.com/silverspringnetworks
About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. With its pioneering IPv6 networking platform, Silver Spring has connected more than 12 million homes and businesses throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative products enable utilities to gain efficiencies, integrate renewable energy sources, and empower customers to monitor and manage energy consumption. Silver Spring Networks is used by major utilities around the globe including Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPFL Energia, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Inc. and United Energy among others. For more information please visit www.silverspringnet.com.
Silver Spring Networks
Noel Hartzell, 650-298-4184
HANOI, Vietnam - Saturday, October 27th 2012 [ME NewsWire]
New Infrastructure, Jobs, Partnerships, Brand Building, Sustainability Programs Underline Vietnam Commitment
(BUSINESS WIRE)-- The Coca-Cola Company today announced a new system investment of US$300 million over the next three years in Vietnam to further capture growth opportunities in one of the world’s major emerging consumer markets. The stepped-up investment, commencing in 2013, will bring to US$500 million the total investment that The Coca-Cola Company and its bottling partners have committed to Vietnam from 2010 through 2015.
“Vietnam is an important growth market in Asia Pacific as we work to achieve our 2020 Vision goal of doubling system revenues this decade,” said Muhtar Kent, Chairman and CEO, The Coca-Cola Company, during a visit to Hanoi. “Vietnam’s economy has maintained healthy growth in recent years and this new financial commitment is more than an investment in Coca-Cola’s expansion in Vietnam, it is also an important acknowledgement of our belief in the long-term potential of this key market. Our continued investments in Vietnam underscore our commitment to building new infrastructure to support strong and sustainable growth, applying world-class marketing practices, creating new jobs, developing local talent, developing stronger partnerships with our local customers and investing heavily in the thousands of communities across Vietnam we proudly serve.”
Through investments completed during the last three years, the Coca-Cola Vietnam system has increased local manufacturing and distribution capacity with new filling lines and the installation of new cold-drink coolers with local customers, helping local businesses boost beverage sales. The Company’s most popular beverages in Vietnam include sparkling brands Coca-Cola, Coke Light, Fanta and Sprite, and still brands Minute Maid Teppy, Minute Maid Nutriboost, Samurai, Real Leaf and Dasani.
The system also directly created 500 new jobs locally in Vietnam, with 99 percent of its total labor force filled by local Vietnamese employees. These direct jobs then generated an estimated additional 5,000 job opportunities in supporting industries.
Coca-Cola also has continued to invest heavily in building sustainable communities in Vietnam with approximately US$1.5 million dedicated to local projects since 2010. These projects have included watershed conservation in partnership with the World Wildlife Fund (WWF), specific disaster relief programs in conjunction with Red Cross Vietnam and Coca-Cola’s “Clean Water for Community” initiative alongside UN-Habitat and CEFACOM, which has provided 10,000 Vietnam residents with access to clean water in 2012 alone.
“We are committed to integrating sustainability into everything we do,” said Basil Sidky, Indochina General Manager of Coca-Cola Southeast Asia. “It is our way of contributing to a more sustainable community, fostering innovation across our business and creating shared value for everyone we touch. It’s something we’re passionate about and committed to for the long-haul in Vietnam.”
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 15 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit www.thecoca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCoor visit our blog at www.coca-colablog.com.
About The Coca-Cola Vietnam System
Coca-Cola is one of the most well-known international brands in Vietnam. The Coca-Cola system in Vietnam employs approximately 2,000 people, of which 99% are local hires, at its three plants in Ho Chi Minh City, Da Nang and Hanoi. Coca-Cola’s brands in Vietnam include Coca-Cola, Coke Light, Sprite, Fanta, Real Leaf, Minute Maid Nutriboost, Minute Maid Teppy, Schweppes, Samurai and Dasani. The Coca-Cola Vietnam system puts sustainability goals at the heart of its business by providing safe and healthy workplaces for its employees and prioritizes providing employees with opportunities for training and development. Sustainability programs are driven by clear goals of energy saving, water-use efficiency and water replenishment. The system continues to help build sustainable communities wherever it operates. Coca-Cola has invested US$1.5 million since 2010 in a range of community projects in Vietnam, including clean water access projects, support to families in need, and aid in times of natural disaster through Red Cross Vietnam.
The Coca-Cola Company
Petro Kacur, +01 404.676.2683
Joanna Price, 86-21-6192-8686
BOUDRY, Switzerland - Saturday, October 27th 2012 [ME NewsWire]
Society for Melanoma Research Abstracts Published Online in Organization’s Journal
(BUSINESS WIRE/ME NewsWire)-- Celgene International Sàrl, a subsidiary of Celgene Corporation (NASDAQ: CELG) today announced that abstracts for the upcoming Society for Melanoma Research meeting have been published online in the organization’s official journal at http://onlinelibrary.wiley.com/doi/10.1111/pcmr.12023/abstract. The publication includes an abstract reviewing results from a phase III metastatic melanoma study with ABRAXANE® (paclitaxel protein-bound particles for injectable suspension) (albumin-bound).
In the randomized, open-label, international study (CA033), ABRAXANE showed a statistically significant improvement in progression-free survival (PFS) in chemotherapy-naïve patients with metastatic melanoma compared to patients receiving dacarbazine chemotherapy (4.8 vs. 2.5 months, respectively (HR:0.792; 95.1% CI: 0.631, 0.992; P=0.044)). An interim analysis of overall survival, the secondary endpoint, shows a trend in favor of the ABRAXANE arm compared to treatment with dacarbazine (12.8 and 10.7 months, respectively (HR:0.831; 99.9% CI: 0.578, 1.196; P=0.094)).
“Metastatic melanoma presents significant treatment challenges due in part to limited therapies, low survival rates at diagnosis and no advances in chemotherapy in thirty-seven years,” said Dr. Evan M. Hersh, lead principal investigator and Professor of Medicine at the University of Arizona College of Medicine and Arizona Cancer Center, Tucson, AZ. “Despite advances with targeted treatment and immunotherapies, there is still a need for new agents including chemotherapy treatments for patients with metastatic melanoma.”
The safety profile of ABRAXANE observed in the CA033 study is comparable with other ABRAXANE pivotal clinical trials. The most common grade ≥3 treatment-related adverse events reported in ≥10% patients were neuropathy (ABRAXANE: 25% vs. dacarbazine: 0%), neutropenia (ABRAXANE: 20% vs. dacarbazine: 10%). The median time to neuropathy improvement with ABRAXANE was 28 days.
These results will be presented at the Society for Melanoma Research 2012 Congress on Sunday, November 11th, in Hollywood, CA.
Future regulatory and clinical strategies are being reviewed in light of these results.
These results are from an investigational study. ABRAXANE is not approved for the treatment of metastatic melanoma.
About the Study
CA033 is a phase III randomized, open-label, international study that evaluated the safety and efficacy of ABRAXANE versus standard chemotherapy, dacarbazine in chemotherapy-naïve patients with stage IV metastatic melanoma. The majority of the patients were males (66%), had an ECOG status of 0 (71%), and had very advanced metastatic disease (M1c stage: 65%). Dacarbazine is the only chemotherapy approved since 1975 by the U.S. Food and Drug Administration for metastatic melanoma.
In the CA033 study, 529 chemotherapy-naïve patients were randomized to receive either ABRAXANE (150mg/m2 weekly for 3 out of 4 weeks) (n=264) or standard chemotherapy, dacarbazine (1000 mg/m2 every three weeks) (n=265). The primary endpoint was progression-free survival (PFS) based on blinded assessment of CT scans obtained every 8 weeks, evaluated per RECIST. The secondary endpoint was OS and other endpoints included objective response rate (ORR), disease control rate (DCR), and safety/tolerability.
ABRAXANE is an albumin-bound form of paclitaxel that is manufactured using patented nab® technology. ABRAXANE is formulated with albumin, a human protein, and is free of solvents.
In the United States, ABRAXANE was first approved in January 2005 for the treatment of breast cancer after failure of combination chemotherapy for metastatic disease or relapse within 6 months of adjuvant chemotherapy. Prior therapy should have included an anthracycline unless clinically contraindicated. ABRAXANE is also available in Europe, Canada, Russia, Australia, New Zealand, India, South Korea, Bhutan, Nepal, United Arab Emirates and China for the treatment of metastatic breast cancer.
In October 2012, ABRAXANE was approved by the U.S. Food and Drug Administration for the first-line treatment of locally advanced or metastatic non-small cell lung cancer, in combination with carboplatin, in patients who are not candidates for curative surgery or radiation therapy.
For the full prescribing information for ABRAXANE please visit http://www.abraxane.com.
ABRAXANE is currently in various stages of investigation for the treatment of the following cancers: pancreatic, metastatic melanoma, bladder, ovarian, and expanded applications for breast cancer.
ABRAXANE® for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin bound) is indicated for the treatment of breast cancer after failure of combination chemotherapy for metastatic disease or relapse within 6 months of adjuvant chemotherapy. Prior therapy should have included an anthracycline unless clinically contraindicated.
ABRAXANE is indicated for the first-line treatment of locally advanced or metastatic non-small cell lung cancer, in combination with carboplatin, in patients who are not candidates for curative surgery or radiation therapy.
Important Safety Information
WARNING - NEUTROPENIA
Do not administer ABRAXANE therapy to patients who have baseline neutrophil counts of less than 1,500 cells/mm3. In order to monitor the occurrence of bone marrow suppression, primarily neutropenia, which may be severe and result in infection, it is recommended that frequent peripheral blood cell counts be performed on all patients receiving ABRAXANE
Note: An albumin form of paclitaxel may substantially affect a drug’s functional properties relative to those of drug in solution. DO NOT SUBSTITUTE FOR OR WITH OTHER PACLITAXEL FORMULATIONS
ABRAXANE should not be used in patients who have baseline neutrophil counts of < 1,500 cells/mm3
Patients who experience a severe hypersensitivity reaction to ABRAXANE should not be rechallenged with the drug
WARNINGS AND PRECAUTIONS
Bone marrow suppression (primarily neutropenia) is dose-dependent and a dose-limiting toxicity of ABRAXANE
Monitor for myelotoxicity by performing complete blood cell counts frequently, including prior to dosing on Day 1 for metastatic breast cancer (MBC) and Days 1, 8, and 15 for non-small cell lung cancer (NSCLC)
Do not administer ABRAXANE to patients with baseline absolute neutrophil counts (ANC) of less than 1,500 cells/mm3
In the case of severe neutropenia (<500 cells/mm3 for seven days or more) during a course of ABRAXANE therapy, reduce the dose of ABRAXANE in subsequent courses in patients with either MBC or NSCLC
In patients with MBC, resume treatment with every-3-week cycles of ABRAXANE after ANC recovers to a level >1,500 cells/mm3 and platelets recover to >100,000 cells/mm3
In patients with NSCLC, resume treatment if recommended at permanently reduced doses for both weekly ABRAXANE and every-3-week carboplatin after ANC recovers to at least 1,500 cells/mm3 and platelet count of at least 100,000 cells/mm3 on Day 1 or to an ANC of at least 500 cells/mm3 and platelet count of at least 50,000 cells/mm3 on Days 8 or 15 of the cycle
Sensory neuropathy is dose- and schedule-dependent
The occurrence of Grade 1 or 2 sensory neuropathy does not generally require dose modification
If ≥ Grade 3 sensory neuropathy develops, treatment should be withheld until resolution to Grade 1 or 2 for MBC or until resolution to ≤ Grade1 for NSCLC followed by a dose reduction for all subsequent courses of ABRAXANE
Severe and sometimes fatal hypersensitivity reactions, including anaphylactic reactions, have been reported
Patients who experience a severe hypersensitivity reaction to ABRAXANE should not be re-challenged with this drug
Because the exposure and toxicity of paclitaxel can be increased with hepatic impairment, administration of ABRAXANE in patients with hepatic impairment should be performed with caution
The starting dose should be reduced for patients with moderate or severe hepatic impairment
ABRAXANE contains albumin (human), a derivative of human blood
Use in Pregnancy: Pregnancy Category D
ABRAXANE can cause fetal harm when administered to a pregnant woman
If this drug is used during pregnancy, or if the patient becomes pregnant while receiving this drug, the patient should be apprised of the potential hazard to the fetus
Women of childbearing potential should be advised to avoid becoming pregnant while receiving ABRAXANE
Use in Men
Men should be advised not to father a child while receiving ABRAXANE
Randomized Metastatic Breast Cancer (MBC) Study
The most common adverse reactions (≥20%) with single-agent use of ABRAXANE in the MBC study were alopecia (90%), neutropenia (all cases 80%; severe 9%), sensory neuropathy (any symptoms 71%; severe 10%), abnormal ECG (all patients 60%; patients with normal baseline 35%), fatigue/asthenia (any 47%; severe 8%), myalgia/arthralgia (any 44%; severe 8%), AST elevation (any 39%), alkaline phosphatase elevation (any 36%), anemia (all cases 33%; severe 1%), nausea (any 30%; severe 3%), diarrhea (any 27%; severe <1%) and infections (24%)
Sensory neuropathy was the cause of ABRAXANE discontinuation in 7/229 (3%) patients
Other adverse reactions of note included vomiting (any 18%; severe 4%), renal dysfunction (any 11%; severe 1%), fluid retention (any 10%; severe 0%); mucositis (any 7%; severe <1%), hepatic dysfunction (elevations in bilirubin 7%), hypersensitivity reactions (any 4%; severe 0%), thrombocytopenia (any 2%; severe <1%), and injection site reactions (<1%). In all ABRAXANE treated patients (n=366) ocular/visual disturbances were reported (any 13%; severe 1%). Dehydration and pyrexia were also reported
Severe cardiovascular events possibly related to single-agent ABRAXANE occurred in approximately 3% of patients and included cardiac ischemia/infarction, chest pain, cardiac arrest, supraventricular tachycardia, edema, thrombosis, pulmonary thromboembolism, pulmonary emboli, and hypertension
Cases of cerebrovascular attacks (strokes) and transient ischemic attacks have been reported
Non-Small Cell Lung (NSCLC) Cancer Study
Adverse reactions with a difference of ≥2%, Grade 3 or higher, with combination use of ABRAXANE and carboplatin in NSCLC were: anemia (28%); neutropenia (47%); thrombocytopenia (18%), and peripheral neuropathy (3%)
The most common adverse reactions (≥ 20%) of ABRAXANE in combination with carboplatin for NSCLC were anemia, neutropenia, thrombocytopenia, alopecia, peripheral neuropathy, nausea, and fatigue
The most common serious adverse reactions of ABRAXANE in combination with carboplatin for NSCLC were anemia (4%) and pneumonia (3%)
The most common adverse reactions resulting in permanent discontinuation of ABRAXANE were neutropenia (3%), thrombocytopenia (3%), and peripheral neuropathy (1%)
The most common adverse reactions resulting in dose reduction of ABRAXANE were neutropenia (24%), thrombocytopenia (13%), and anemia (6%)
The most common adverse reactions leading to withholding or delay in ABRAXANE dosing were neutropenia (41%), thrombocytopenia (30%), and anemia (16%)
The following common (≥10% incidence) adverse reactions were observed at a similar incidence in ABRAXANE plus carboplatin-treated and paclitaxel injection plus carboplatin-treated patients: alopecia 56%, nausea 27%, fatigue 25%, decreased appetite 17%, asthenia 16%, constipation 16%, diarrhea 15%, vomiting 12%, dyspnea 12%, and rash 10% (incidence rates are for the ABRAXANE plus carboplatin treatment group)
Post-Marketing Experience with ABRAXANE and other Paclitaxel Formulations
Severe and sometimes fatal hypersensitivity reactions have been reported with ABRAXANE. The use of ABRAXANE in patients previously exhibiting hypersensitivity to paclitaxel injection or to human albumin has not been studied
There have been reports of congestive heart failure and left ventricular dysfunction with ABRAXANE, primarily among individuals with underlying cardiac history or prior exposure to cardiotoxic drugs
There have been reports of extravasation of ABRAXANE. Given the possibility of extravasation, it is advisable to monitor closely the ABRAXANE infusion site for possible infiltration during drug administration
Caution should be exercised when administering ABRAXANE concomitantly with medicines known to inhibit or induce either CYP2C8 or CYP3A4
USE IN SPECIFIC POPULATIONS
It is not known whether paclitaxel is excreted in human milk. Because many drugs are excreted in human milk and because of the potential for serious adverse reactions in nursing infants, a decision should be made to discontinue nursing or to discontinue the drug, taking into account the importance of the drug to the mother
The safety and efficacy of ABRAXANE in pediatric patients have not been evaluated
No toxicities occurred notably more frequently among patients ≥ 65 years of age who received ABRAXANE for MBC
Myelosuppression, peripheral neuropathy, and arthralgia were more frequent in patients ≥65 years of age treated with ABRAXANE and carboplatin in NSCLC
The use of ABRAXANE has not been studied in patients with renal impairment
DOSAGE AND ADMINISTRATION
Dose adjustment is recommended for patients with moderate and severe hepatic impairment and patients who experience severe neutropenia or severe sensory neuropathy during treatment with ABRAXANE
Withhold ABRAXANE if AST >10 x ULN or bilirubin > 5 x ULN
Dose reductions or discontinuation may be needed based on severe hematologic or neurologic toxicities
Monitor patients closely
Please see full Prescribing Information, including Boxed WARNING, CONTRAINDICATIONS, WARNINGS AND PRECAUTIONS, and ADVERSE REACTIONS.
Melanoma is a form of skin cancer characterized by the uncontrolled growth of pigment-producing cells (melanocytes) located in the skin. When melanoma is diagnosed early, it is generally a curable disease. However, when it spreads to other parts of the body, it is the deadliest and most aggressive form of skin cancer. A person with metastatic melanoma typically has on average a short life expectancy that is measured in months. According to the World Health Organization, approximately 132,000 new cases of melanoma are diagnosed each year globally. The incidence of melanoma has increased ten-fold over the past 50 years, and has steadily increased since the 1970s. The American Cancer Society estimates there will be more than 76,000 new cases of melanoma and nearly 9,200 melanoma deaths this year in the United States.
About Celgene International Sàrl
Celgene International Sàrl, located in Boudry, in the Canton of Neuchâtel, Switzerland, is a wholly owned subsidiary and international headquarters of Celgene Corporation. Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global pharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, please visit the Company's website at www.celgene.com.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.
For Celgene International Sàrl
+41 32 729 8303
+41 32 729 8304
Leading Pharma CRM Solution Enables Flexibility through Seamless Compatibility with Both Windows 8 and Apple iOS
PARIS - Friday, October 26th 2012 [ME NewsWire]
(BUSINESS WIRE)-- Cegedim Relationship Managementtoday announced that Mobile Intelligence 9, the company’s award winning mobile CRM platform, will be fully compatible with the Windows 8* PRO tablet. Mobile Intelligence 9 will feature the Life Sciences industry’s broadest support for new hardware and operating systems in order to afford companies with the latest in next generation technology. Cegedim is a leader in the Life Sciences mobile CRM market with over thirty-seven thousand users around the world leveraging the Mobile Intelligence application on iPads** or smartphones.
Innovative Pharma Mobile CRM Solution Continues to Lead by Offering Flexibility in Operating Systems
Over the last three years, an increasing number of Life Sciences commercial, medical, market access and key account management teams have been employing tablets to drive efficiency and boost their interactions with their stakeholders. With a greater tablet choice now available, leading companies are looking to leverage new and robust mobile functionality to effectively support their current global, regional and local business strategies and objectives.
Cegedim Relationship Management’s Mobile Intelligence platform continues to expand the breadth of its tablet-centric CRM, MI Touch, which will support Microsoft’s Windows 8 PRO tablets, and feature the same robust functional scope as for the iOS solution, including: Closed Loop Marketing (CLM); meetings & expenses; insightful analytics; and much more. MI Touch will also feature its unrivaled off-line/on-line functionality, and a centralized back-end platform that enables a single configuration for all devices and operating systems.
“The upsurge in tablet innovation is benefiting the Life Sciences industry need for fast, flexible and instant-on mobile technologies. Microsoft has a tremendous brand and penetration across Life Sciences companies. We are committed to constantly investing in our market leading CRM solution to be the most adaptive in the Life Sciences,” said Laurent Labrune, Chief Executive Officer for Cegedim Relationship Management. “Our clients continuously reassess and optimize their commercial strategies to meet their evolving global, regional and local needs. They are also looking to leverage the latest technological innovations to establish deeper connections with their stakeholders. Our goal is to enable them to focus on meeting their customers’ needs, regardless of their preferred operating system or platform.”
* Windows is a registered trademark of Microsoft Corporation
**iPad is a trademark of Apple Inc.
About Cegedim Relationship Management:
Cegedim Relationship Management is the Life Sciences industry’s leading provider of Customer Relationship Management (CRM) solutions. Designed specifically for Life Sciences, the company’s innovative business solutions incorporate a thorough understanding of local, regional and worldwide trends. Cegedim Relationship Management enables more than 200,000 users in many of the world’s most innovative companies to stay ahead of market challenges. In addition to CRM, Cegedim Relationship Management also provides marketing, data optimization and regulatory compliance solutions in more than 80 countries. Cegedim Relationship Management is part of the France-based Cegedim S.A. Group.
To learn more, please visit: www.cegedim.com/rm.
Follow Cegedim Relationship Management on LinkedInand Twitter.
Founded in 1969, Cegedim is a global technology and services company specializing in the healthcare field. Cegedim supplies services, technological tools, specialized software, data flow management services and databases. Its offerings are targeted notably at healthcare industries, life sciences companies, healthcare professionals and insurance companies. The world leader in life sciences CRM, Cegedim is also one of the leading suppliers of strategic healthcare industry data. Cegedim employs 8,200 people in more than 80 countries and generated revenue of €911 million in 2011. Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more, please visit: www.cegedim.com.
Cegedim Relationship Management
Tel.: +1 (908) 443.2451
Tel.: +33 (0)1 49 09 68 81
ME Newswire / Business Wire
HOUSTON & ALBERTA, Canada - Thursday, October 25th 2012 [ME NewsWire]
(BUSINESS WIRE)-- Kelman Data Management, the global geophysical data management firm, has officially changed its name to Katalyst Data Management, the company announced Wednesday.
Re-branding initiatives accompanying the Katalyst name feature a new positioning line (“Unleash Your Data’s Potential”), a new corporate website (www.katalystdm.com), and a marketing campaign launch in Las Vegas during the annual meeting of the Society of Exploration Geophysicists (SEG) on Nov. 4-9.
Founded in Canada as a geophysical seismic data processing firm based in Calgary in 1982, Kelman began offering data management services in 1996. The service was expanded to the United States in 2001 and currently has offices in Houston, Oklahoma City, and Denver.
In 2010, the company merged with the respected Houston-based Oil Data Transcription Service unit of Iron Mountain. The following year, the parent company, Kelman Technologies Inc., sold its seismic data processing business to Fugro, including the rights to the Kelman name.
As Katalyst, the company provides a complete line of data management services including data capture (tape re-mastering and scanning), navigation loading, metadata capture, quality control, database hosting, digital storage, and disaster recovery.
“The Katalyst name better represents innovative products such as iGlass, our fully integrated portal for accessing geophysical data. Going forward, Katalyst will become synonymous with cutting-edge offerings that customers can use to maximize their assets,” said Steve Darnell, the company’s President. “Katalyst has an ongoing commitment to R&D to maintain its leadership position in the geophysical data management area. We have several exciting announcements to share in the coming months,” he added.
Katalyst is a leading E&P data management firm that can reduce the geophysical exploration cycle time by ensuring that all known data is accurately catalogued within days, not months, including even the oldest legacy formats. The company’s popular “Touch Once” process is the industry’s only end-to-end data management service.
For more information about Katalyst, visit www.katalystdm.comor attend an iGlass demonstration Nov. 4-9 at the SEG Annual Meeting (Booth #1156) in Las Vegas.
Katalyst Data Management provides end-to-end geophysical data management services. Katalyst specializes in the protection, management, organization and storage of geophysical assets for the oil and gas industry.
Katalyst Data Management
Steve Darnell, 281-529-3202
Patrick Peck, 281-529-3215
Vice President, Sales & Marketing
Neil Baker, 1-403-294-5268
Vice President, Data Management
BUSINESS WIRE / ME NewsWire BITTERFELD-WOLFEN, Germany - Thursday, October 25th 2012
Hanwha Group, a top 10 Korean business group and Fortune Global 500 company with businesses in manufacturing, construction, finance, retail and resorts, today launched Hanwha Q.CELLS. The launch marks the completion of the acquisition of German solar company Q.CELLS, one of the worlds’ largest solar cell manufacturers and a leading photovoltaics company. Mr. Charles Kim will lead Hanwha Q.CELLS as CEO, joining the company from Hanwha SolarOne. Mr. Min Su Kim will replace Mr. Charles Kim as the president of Hanwha SolarOne and joins the company from Hanwha Group.
The launch of Hanwha Q.CELLS establishes Hanwha as the third largest solar manufacturer in the world. Hanwha’s 2.3 GW of manufacturing capacity is distributed across Germany, Malaysia and China, a competitive advantage to supply any region in the world, free of trade sanctions.
“The synergies between Q.CELLS and Hanwha offer a rare opportunity to quickly build a world leading solar company,” said Charles Kim, CEO of Hanwha Q.CELLS. “The Q.CELLS track record of quality, innovation and excellence align with Hanwha Group’s financial resources, manufacturing expertise and global customer network to form one of the strongest solar companies in the world, ready to lead the industry into a new era.”
The launch of Hanwha Q.CELLS follows strategic investments by the Hanwha Group to broaden solar offerings to the system and accelerate technology developments ranging from advanced cell technology to system optimization for lowering LCOE (Levelized Cost of Electricity), EPC (Engineering, Procurement and Construction), and project development capabilities. These strategic investments include innovative companies like Crystal Solar, 1366 Technologies, tenKsolar, Silent Power and OneRoof Energy. Hanwha Group also established Hanwha SolarEnergy in 2011 to deliver integrated solar power plant solutions encompassing development, construction, operation and project financing, in addition to the recently opened €10 million advanced R&D center in Silicon Valley, Calif., U.S. in April 2012. With the launch of Hanwha Q.CELLS, Hanwha now has four R&D centers around the world.
“With a 60-year track record of industrial leadership, Hanwha Group is committed to becoming a global leader in addressing the energy challenges of a dynamic global economy,” said Ki-Joon Hong, CEO of Hanwha SolarOne and vice chairman of Hanwha Chemical. “Our commitment to solar extends beyond building a successful business. We are dedicated to making solar the most reliable source of energy on Earth.”
Hanwha Group acquired the following assets from Q.CELLS:
Headquarters, R&D center and administrative operations in Germany.
200 MW cell and 120 MW module manufacturing facilities in Germany.
800 MW cell manufacturing facility in Malaysia.
Entities in the U.S., Australia and Japan.
The launch was celebrated today at an event in Bitterfeld-Wolfen, Germany.
About Hanwha Group
Founded in 1952, Hanwha Group is a leading Korean business group with 53 domestic affiliates and 78 global networks in three major sectors of manufacturing/construction, finance and service/leisure. In 2011, Hanwha Group held assets of USD 87.7 billion and total revenue of USD 31.6 billion. Putting strategic emphasis on renewable energies and global expansion, Hanwha Group has made successful advancements in solar energy, rechargeable batteries and biosimilars. Hanwha Group has also extended its global footprint in Europe, China, Southeast Asia, the Middle East and the United States. For more information, visit www.hanwha.com.
About Hanwha Q.CELLS
Hanwha Q.CELLS is one of the world’s leading photovoltaics companies and offers a wide range of photovoltaic solutions, from solar cells and modules to solar power plants. Hanwha Q.CELLS’ products are developed and manufactured at its headquarters in Bitterfeld-Wolfen (Germany) and marketed via its global sales network. It also has a second production plant in Malaysia. More than 200 scientists and engineers at Hanwha Q.CELLS are working to swiftly advance solar technology and achieve Hanwha Q.CELLS’ twin aims: driving down the costs of photovoltaics quickly and permanently, and making solar power competitive. The close links between R&D and production enable Hanwha Q.CELLS to rapidly translate innovation into mass production - and underpin its ambition to be at the forefront of photovoltaic technology. For more information, please visit: http://www.q-cells.com.
John Xi, +86 21 385 215 21
PR & Advertising Manager
Hanwha Q.CELLS Corporate Communications
Jochen Endle, +49 (0)3494 6699 10118
BUSINESS WIRE ME NewsWire - AMSTERDAM - Thursday, October 25th 2012
Revenue up +11% at constant exchange rates, and +18% at historical rates, to €575 million
Record revenue in Security and in Mobile Communication
Stand-out performances from Platforms & Services and the Asia region
2013 target of €300 million in profit from operations now expected to be reached one year in advance
Revenue figures in this document are for ongoing operations1 and variations are at constant exchange rates except where otherwise noted. Revenue figures including contribution of assets held for sale and variations at historical rates are provided in the appendix of this document. All figures presented in this press release are unaudited.
Gemalto (Euronext NL0000400653 - GTO), the world leader in digital security today announces its revenue for the third quarter of 2012.
Ongoing operations (€ in millions)
Total third quarter 2012
Total third quarter 2011
Third quarter 2012 Revenue
Year-on-year variations at constant exchange rates
Olivier Piou, Chief Executive Officer, commented: “This quarter was marked by the great performance of Mobile Communication, which delivered on the surge in demand for our 4G-LTE and new form factor products ahead of the introduction of highly anticipated mobile devices. Our Platforms & Services activity also performed particularly well in all businesses with excellent execution of projects related to mobile payment, trusted service management and advanced over-the-air services. Security further added to the quarter’s results as government agencies and enterprises actively deployed our modern digital identity and authentication solutions. Overall, Gemalto continues to deliver on its strategy and the Company has initiated the preparation of its next development phase that will be presented during the second semester of 2013.”
1See basis of preparation on page 2, and appendix 3 of this document for more information on ongoing operations.
Basis of preparation of financial information
For a better understanding of the current and future year-on-year evolution of the business, the Company provides revenue from “ongoing operations” for both 2012 and 2011 reporting periods.
The adjusted income statement for ongoing operations excludes, as per the IFRS income statement, the contribution from discontinued operations to the income statement, and also the contribution from assets classified as held for sale and from other items not related to ongoing operations.
In this publication reported figures for ongoing operations only differ from figures for all operations by the contribution from assets held for sale.
Compared to revenue reported on the third quarter of 2011, 2011 revenue from ongoing operations for the third quarter 2011 reported in this publication was represented to also exclude the contribution from assets classified as held for sale in 2012.
Appendix 3 bridges the revenue for ongoing operations to the revenue for all operations.
Historical exchange rates and constant currency figures
Revenue variations are at constant exchange rates, except where otherwise noted.
The Company sells its products and services in a very large number of countries and is commonly remunerated in currencies other than the Euro. Fluctuations in these other currencies exchange rates against the Euro have in particular a translation impact on the reported Euro value of the Company revenues. Comparisons at constant exchange rates aim at eliminating the effect of currencies translation movements on the analysis of the Group revenue by translating prior year revenues at the same average exchange rate as applied in the current year.
For the period, revenue for ongoing operations was up by +11% year-on-year at constant exchange rates to €575 million. It was up by +18% at historical exchange rates. Growth came from all regions with an especially good performance in all business segments in Asia, up +21% at constant exchange rates and +35% at historical exchange rates. Across the Company, Platforms & Services business posted a strong performance with revenue increasing by +17% at constant exchange rates and +22% at historical exchange rates over the same period of the previous year.
Total Company revenue for all operations reached €578 million and posted the same year-on-year growth rates as ongoing operations, +11% and +18% at constant exchange rates and at historical exchange rates respectively.
The strong growth observed this quarter evidences the progress of the Company in its different business segments and in particular in Mobile Communication. In that segment, as a result of the global introduction by customers of a number of wireless devices and the timing of acceptance of our own software platforms, the final quarter of 2011 showed a strong revenue step-up compared with the third quarter of 2011. As previously communicated, this marked 2011 seasonal pattern of revenue is not expected to repeat to the same extent in 2012 and a more usual variation is anticipated between the final quarter of 2012 and the preceding quarter.
Revenue variations by segment and by region are presented in appendix 1. Average exchange rates between the Euro and the US Dollar are presented in appendix 4.
The net cash position as at September 30, 2012 amounted to €244 million, representing an outflow of €51 million compared with the end of the second quarter. During the quarter, payments for acquisitions represented an outflow of €46 million and the net share buy-back outflow was €8 million.
€ in millions
Third quarter 2012
Third quarter 2011
Year-on-year variation at constant exchange rates
Mobile communication posted strong double-digit revenue growth to €283 million.
Platforms & Services revenue increased by +23% at constant exchange rates compared to the previous year. The growth came mainly from the delivery of Trusted Service Management (TSM) projects for mobile payment services and from record levels of remote activation services of 4G-LTE mobile devices subscriptions.
Embedded Software & Products revenue grew by +15% at constant exchange rates supported by a surge in demand for 4G-LTE and the new 4FF form factor for recently launched mobile devices. The deployment of Upteq NFC products in Asia and Europe also contributed to this growth.
€ in millions
Third quarter 2012
Third quarter 2011
Year-on-year variation at constant exchange rates
The Machine-to-Machine segment posted revenue of €48 million, an increase of +3% at constant exchange rates. Following the same trend as the first semester, solid revenue growth in the Americas and in Asia more than compensated for slower activity in Western Europe. Demand for communication modules and data management services came from multiple industrial sectors that are integrating mobile connectivity into their product offerings.
€ in millions
Third quarter 2012
Third quarter 2011
Year-on-year variation at constant exchange rates
Secure Transactions consolidated the market position captured through last year’s third quarter (Revenue up +22% at constant exchange rates in third quarter 2011) with revenue progressing to €146 million, a +4% increase at historical exchange rates and a (1%) decrease at constant exchange rates. Demand for EMV technology and associated personalization services continues to support the segment’s activity in fast-growing economies as does the global demand for secure and convenient mobile payment solutions.
€ in millions
Third quarter 2012
Third quarter 2011
Year-on-year variation at constant exchange rates
Revenue in Security grew by +22% at constant exchange rates to €98 million with double-digit growth in both Government Programs and Identity & Access Management.
The deployment of electronic identity programs in both developed and fast-growing economies continued to support the Government Programs activity.
The demand from financial institutions that reinforce the security of their eBanking services through stronger authentication solutions drove the solid performance of Identity & Access Management.
€ in millions
Third quarter 2012
Third quarter 2011
Year-on-year variation at constant exchange rates
The activity in the Patents continues to be limited due to ongoing litigation initiated by the Company in the United States.
Gemalto announced progress in several mobile payments projects, spanning its Mobile Financial Services portfolio. In particular:
In Mobile Contactless NFC, Gemalto achieved datacenter certification in early July and quickly thereafter launched nation-wide service operation in Singapore. Supported by the national Infocomm Development Authority (IDA) of Singapore, the project aims to deploy the particularly convenient NFC human interface to Singapore’s consumers through a consortium of local partners that includes mobile operators, financial institutions and service providers. This is the first time that the mobile operators and a range of other service providers join forces to launch nationwide NFC services to the general public using a unified, comprehensive Trusted Services Management solution.
Gemalto also grew its Mobile Payment Platform capabilities through a partnership with both Western Union and MoneyGram. These extensions introduce additional “Cash in/Cash out” end-points to the Gemalto LinqUs Mobile Payment Platform, enabling robust mobile money infrastructures and mobile remittance services.
Gemalto acquired Ericsson Internet Payment Exchange AB ("IPX") on October 1st, 2012, except the IPX US operation. IPX has developed one of the leading mobile payment and messaging platforms in the world, connecting more than 1,000 service providers to over 120 mobile network operators. IPX also operates payment platforms as a white label service for various operators. IPX will join Gemalto's Platforms & Services business in the Mobile Communications segment.
Related press releases:
Aug 3, 2012: Gemalto NFC Management Service Goes Live for Singapore
Sep 18, 2012: Gemalto Enables MoneyGram to Offer International Money Transfers on Mobile Devices
Sep 25, 2012: Gemalto Expands Mobile Payment Software Solution with Western Union’s International Remittance Service
Oct 1, 2012: Gemalto acquires mobile payment platform from Ericsson
A set of significant contracts were signed and announced in the Government Programs activity this quarter:
Sealys Secure Documents: US ePassport multi-year contract renewal Gemalto has been a primary supplier to GPO since inception of the Electronic Passport, which began deployment in the United States of America in 2005. During this new contract assessment phase, the Gemalto Sealys solution was thoroughly evaluated and confirmed to meet the stringent US agency requirements, in particular for privacy protection, production yield, durability, and communications technical performance. Since 2005, GPO has produced more than 80 million secure electronic passports.
Coesys Issuance solution: National registry creation in Gabon This program aims to build a reliable national biometric civil registry system, to replace paper identification with electronic documents, and to generate a secure electoral register ahead of the local 2013 elections. The agreement supports the nation’s ‘Emerging Gabon 2025’ strategic plan and aims at equipping the country with a modern and secure infrastructure to protect its citizens from identity fraud.
Related press releases:
Aug 14, 2012: United States Government Printing Office Awards Multi-Year Contract to Gemalto for ePassport Solution
Sep 20, 2012: Gemalto Selected to Build Secure and Reliable Biometric National Registry in Gabon
For the full year 2012, Gemalto now expects its profit from operations to reach its 2013 target of €300 million, with all main segments increasing their revenue and profit, limited revenue from Patents, and less seasonality in Mobile Communication.
Live Audio Webcast and Conference call
Gemalto third quarter 2012 revenue presentation will be webcast in English today at 3pm Paris time (2pm London time and 9am New York time).
This listen-only live audio webcast of the presentation and the Q&A session will be accessible from our Investor Relations web site:
Questions will be taken by way of conference call. Investors and financial analysts wishing to ask questions should join the presentation by dialing:
(UK) +44 203 367 9456 or (US) +1 866 907 5925 or (FR) +33 1 7077 0935
The accompanying presentation slide set is also available for download on our Investor Relations web site.
Replays of the presentation and Q&A session will be available in webcast format on our Investor Relations web site approximately 3 hours after the conclusion of the presentation. Replays will be available for one year.
The full year 2012 results will be reported on Thursday March 14, 2013, before the opening of Euronext Paris.
ADR (American Depositary Receipt)
Gemalto has established a sponsored Level I American Depository Receipt (ADR) Program in the United States since November 2009. Each Gemalto ordinary share is represented by two ADRs. Gemalto’s ADRs trade in U.S. dollar and give access to the voting rights and to the dividends attached to the underlying Gemalto shares. The dividends are paid to investors in U.S. dollar, after being converted into U.S. dollar by the depository bank at the prevailing rate.
Structure: Sponsored Level I ADR Exchange: OTC Ratio (ORD:DR): 1:2 DR ISIN: US36863N2080 DR CUSIP: 36863N 208
Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2011 annual revenues of €2 billion and more than 10,000 employees operating out of 74 offices and 14 Research & Development centers in 43 countries.
We are at the heart of our evolving digital society. Billions of people worldwide increasingly want the freedom to communicate, travel, shop, bank, entertain and work – anytime, anywhere – in ways that are convenient, enjoyable and secure. Gemalto delivers on their expanding needs for personal mobile services, identity protection, payment security, authenticated online services, cloud computing access, modern ticketing systems, M2M communication, eHealthcare and eGovernment services.
Gemalto develops secure software that runs on trusted devices which we develop and personalize. We manage these devices, the confidential data they contain and the services they enable, throughout their life cycle. We innovate so that our clients can offer more ways of enhancing the convenience and security of their end-users’ digital lives.
Gemalto is thriving with the growing number of people using its software and secure devices to interact in the digital and wireless world.
For more information visit www.gemalto.com, www.justaskgemalto.com, blog.gemalto.com, or follow @gemalto on Twitter.
This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Gemalto.
This communication contains certain statements that are neither reported financial results nor other historical information and other statements concerning Gemalto. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, events, products and services and future performance. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates" and similar expressions. These and other information and statements contained in this communication constitute forward-looking statements for purposes of applicable securities laws. Although management of the Company believes that the expectations reflected in the forward-looking statements are reasonable, investors and security holders are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by the forward-looking information and statements, and the Company cannot guarantee future results, levels of activity, performance or achievements. Factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this communication include, but are not limited to: trends in wireless communication and mobile commerce markets; the Company's ability to develop new technology and the effects of competing technologies developed; effects of the intense competition in the Company's main markets; challenges to or loss of intellectual property rights; ability to establish and maintain strategic relationships in its major businesses; ability to develop and take advantage of new software, platforms and services; profitability of the expansion strategy; effects of acquisitions and investments; ability of the Company's to integrate acquired businesses, activities and companies according to expectations; ability of the Company to achieve the expected synergies from acquisitions; and changes in global, political, economic, business, competitive, market and regulatory forces. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of such forward-looking statements. The forward-looking statements contained in this communication speak only as of the date of this communication and the Company or its representatives are under no duty, and do not undertake, to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise except as required by applicable law or regulations.
All variations in these appendices are comparing the revenue of the third quarter 2012 to the revenue of the third quarter 2011. For a better understanding of Gemalto’s year-on-year business evolution, the revenue figures have been calculated for ongoing operations, as described in the basis of preparation of this document, unless otherwise mentioned.
Third quarter revenue by region
Ongoing operations (€ in millions)
Third quarter 2012
Third quarter 2011
Year-on-year variation at constant exchange rates
Year-on-year variation at historical exchange rates
North & South America
Revenue variations at constant and historical exchange rates
Ongoing operations (€ in millions)
Total third quarter 2012
Total third quarter 2011
Year-on-year variation at constant exchange rates
Year-on-year variation at historical exchange rates
Ongoing operations and total Company revenues
Revenue (€ in millions)
Total Ongoing operations
Assets held for sale
Third quarter 2012
Third quarter 2011
Third quarter 2011 as reported
The assets held for sale comprise those that will be contributed to a joint venture under creation and other non-strategic assets currently being disposed (representing revenues of €4 million in third quarter 2011 and €3 million in third quarter of 2012, in Mobile Communication)
Average exchange rates between the Euro and the US dollar
Gabriel Rangoni, M.: +33(0) 6 1426 6956
Isabelle Marand, M.: +33(0) 6 1489 1817
Cost control drives gains in operating cash flow
BUSINESS WIRE / ME NewsWire - SHENZHEN, China - Friday, October 26th 2012 [ME NewsWire]
ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment and network solutions, today announced its financial results for the first three quarters ended September 30, 2012.
Based on PRC ASBEs, the company’s operating revenue amounted to RMB 60.7 billion, an increase by approximately 5% compared to same period a year earlier. Net loss attributable to share holders of the parent company amounted to RMB 1.7 billion, representing a year-on-year reverse of 259.1%. According to the company, during the reporting period, ZTE’s operating cash flow increased by over RMB 6 billion compared to the same period of last year. During the period, selling and administrative expenses decreased without impacting the company’s commitment to research and development.
Balancing cash flow, profit and operating scale
ZTE is dedicated to balancing cash flow, profitability and operating scale. Throughout 2012, ZTE maintained its overall corporate development strategy with a focus on current and future corporate development. However, the tactical implementation of the company’s development methods was reviewed in light of current global economic uncertainties and the maturing network infrastructure market. In the third quarter of 2012, the company began implementing optimization measures as a result of this review process.
In the future, the overall corporate development strategy of the company also will reflect an increased focus to achieve a balance between cash flow, profitability and operating scale. In the past several years, ZTE established its position as a mainstream equipment supplier by penetrating major telecommunications markets including Europe, dramatically eroding the advantages previously held by industry leaders, allowing the company to seize the lucrative opportunities offered by network upgrades to 4G and other nascent technologies.
In the terminals division, the company’s smart devices won widespread recognition in high-end markets globally, positioning its brand and technology to seize China’s 4G market in the future. In wireless networks, the position of the company’s FDD-LTE and TD-LTE businesses globally has improved compared to the 3G era. In the TDD segment, ZTE is building commercial and trial TD-LTE networks for 33 internationally leading operators in 19 countries, and the company won the largest share in the recent TD-LTE tender by China Mobile. In fixed-broadband, the company is keeping its globally-leading position, with bearer network products maintaining good levels of profit margins.
In the third quarter, the balanced strategy is reaping initial benefits, with lower selling and administrative costs leading to large-scale improvement in operating cash flow. In the first nine months, ZTE posted a RMB 6 billion gain in operating cash flow compared to a year earlier, as customer-mix and receivables conditions improved. At the same time, ZTE posted a RMB 7 billion improvement in free cash flow from the same period a year earlier, as controls on capital spending strengthened. In terms of growth in free cash flow and operating cash flow, the performance in the third-quarter was the best in the past three years. ZTE is confident its cash flow will continue to strengthen in the near term, with improved levels of profitability, while the scale of the business will expand organically, allowing to company to achieve a top-3 position globally.
Growth in new markets: smart terminals, enterprise networks and managed services
In terms of geographical regions and product divisions, the company’s overall competitiveness will continue to increase as it takes advantage of its differentiation strategy. Geographically, the company will continue to focus on the long-term development of its business in Europe. It also will sustain its investment in the terminal market in the United States, while maintaining its leadership role in emerging markets. In terms of products, the company will focus on the key areas of wireless broadband, wired broadband, bearer networks, managed services, terminals and enterprise networks. The company also will consolidate product lines that offer low investment returns and limited potential.
In terms of new markets, ZTE will primarily focus on the development of smart terminals, government and corporate clients, and managed services. ZTE will build on its position as a global top-5 smart terminal vendor in the first three quarters, when it posted a dramatic improvement in gross profit margin in the terminal division. The company will continue to strengthen the competitiveness of its products and achieve further gains in profitability. In enterprise networks, the company will seek stable and rapid growth by exploiting its advantages in product standardization. The company posted fast business growth in the $200 billion managed services market.
The company will further strengthen efforts to control operating costs and cash flow, optimize business processes, improve operational efficiency and control potential contract risks. ZTE will manage employee numbers and maintain its commitment to research and development, allowing the company to exploit the window of opportunity opened by the development of LTE and other nascent technologies.
Looking ahead, ZTE believes that after 30 years of rapid development, the global telecommunications industry will enter a more stable growth phase, with a trend towards increased product specialization, as operators focus more on network efficiency and user experience. In recent years, the rapid growth of Internet-related industries has increased demand for telecommunications network bandwidth, prompting operators to increase investment in network infrastructure. This is also conducive to the expansion of ZTE’s existing solutions such as broadband bearer, broadband access and wireless broadband networks. For smart terminals, ZTE will continue cooperating with key international and domestic operators to drive higher revenue and profit. The company has long been aware of the rapid and healthy growth in telecommunications-related ICT industries. The company has been an early investor in these vibrant “blue-sea” sectors, and provided tailored solutions for enterprise networking, cloud-computing, and the Internet-of-Things.
The company is confident that by fine-tuning the development strategy, it can better address current and future market challenges, and achieve steady and robust growth.
Margrete Ma, +86 755 26775207
Diana Pong, +852 2837 4734
Andres Vejarano, +852 2837 4735
The Freedom of Information Act may not work for now especially in the political sector. This is because there is no information available to share with the public. None of the over 100 political parties have current information literature and educational literature that contains basic information about their parties. There is hardly any campaign for membership except during elections. Many have no functional offices, staff and websites. Most of their officials in charge of information do not have enough information to manage and many hardly understand their functions (For instance, they do not have full details of their officials and membership data). The regulators INEC do not currently have a comprehensive data of membership of political parties in the country neither do they monitor their activities perhaps except close to election periods. These affect the outcome of party primaries and facilitate rigging. There are hardly political orientations, voters’ education and monitoring of their activities. To make matters worse, the federal ministry of information website is inactive and most information obsolete. The contact phone numbers and e-mail addresses are non functional.
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