2007'11.23.Fri
The U.S. Patent and Trademark Office Grants Innovatier its First Patent
October 27, 2007
LAKELAND, Fla., Oct. 27 /Xinhua-PRNewswire/ --
Innovatier, the visionary in the world of active RFID and
powered card packaging, has been granted its first patent
by the US Patent and Trademark Office.
The issuance of Patent # US 7,237,724 B2, "A Smart
Card And Method For Manufacturing A Smart Card",
broadens Innovatier's scope as a worldwide leader in
technology. Innovatier's elevation into patented status
will help bring more attention to its unique Reaction
Injection Embedding(R) processes, which are setting the
standard in active RFID and powered cards.
"For us, it is all about finding ways to provide
our customers with innovative processes to package their
sensitive electronics," stated Paul Meyer, Director of
Business Development. "Whether we develop or license
new technologies, our goal is to remain the leader in
providing innovative packaging solutions."
Robert Singleton, President, went on to say "This
is an exciting day for Innovatier. We have worked hard to
reach this pinnacle and will continue to strive for
excellence."
Innovatier offers superior packaging solutions for
active RFID and powered cards. Its Reaction Injection
Embedding(R) technologies have positioned the Company as
the leader in embedding powered electronics in a variety of
form factors. The company's simple and scalable
manufacturing processes are easy and inexpensive compared
to more conventional methods. In addition, the processes
have the capability of realizing any 3-dimensional shape
such as exact-parameter cards, circular wrist bracelets, or
any desired form. In addition to its own proprietary
technologies, the Company has a world wide license with
CARDXX, Inc. which provides the Company with both exclusive
and non-exclusive rights to use CARDXX, Inc.'s RAMP
Technology as it relates to the manufacture of smart
devices.
For more information, visit http://www.innovatier.com
This release contains forward-looking statements,
including statements containing the words
"planned," "expects,"
"believes," "strategy,"
"opportunity," "anticipates" and
similar words. Such forward-looking statements are subject
to known and unknown risks, uncertainties or other factors
that may cause Innovatier, Inc's actual results to be
materially different from historical results or any results
expressed or implied by such forward-looking statements.
Innovatier, Inc. assumes no obligation to update any
forward-looking statements to reflect events or
circumstances arising after the date hereof. The potential
risks and uncertainties which could cause actual growth and
results to differ materially include but are not limited to,
customer acceptance of the company's services, products and
fee structures, the success of the company's brand
development efforts, the volatile and competitive nature of
the industries in which it operates, and changes in domestic
and international market conditions, and foreign exchange
rates.
For more information, please contact:
Lawrence Keim
Innovatier
Tel: +1-863-688-4548
Email: lkeim@innovatier.com
PR
2007'11.23.Fri
Premier Electronics Announces its International Panel of Expert Judges for the 2007 LiveEdge Competition - First Ever Electronic Design Competition for the Global Environment
October 27, 2007
3,200 engineers from 102 countries have already signed up
to submit designs for the prize valued at $100,000 U.S.
SHANGHAI, China, Oct. 27 /Xinhua-PRNewswire/ -- Premier
Electronics, the leading multi-channel, high service
distributor supporting millions of engineers and purchasing
professionals globally, has announced its expert panel of
judges for the international design competition, 'Live
Edge' - Electronic Design for the Global Environment.
Since its launch in May 2007 over 3,200 design engineers
and students from 102 countries have registered to submit
their designs to create an innovative product that utilises
electronic components and has a positive impact on the
environment. There's still time to register. The top 10
countries currently for registrations are (in order) the
U.S., U.K., China, India, Spain, Germany, Mexico, Italy,
Brazil and France.
The 2007 LiveEdge competition panel of judges
comprises; Sir Peter Gershon, - Chairman of Premier
Farnell, plc - Fellow of the Royal Academy of Engineering
and a governor of Imperial College, Professor Sir David
King - UK Government Chief Scientific Adviser and Head of
the Government Office for Science, Mr. Mark Kenber -
Director of The Climate Change Group, Dr. Alla Cordery -
Head of Electronic Engineering, Oxford, Mr. Rob Rodin -
President of eConnections USA, Mr. Max Huber - President
Sharp Microelectronics, Mr. Yu Donghai, Dean of Electronics
Engineering, Southeast University, China and Mr. Mingtao
Jiang, Section Chief, Information Technology Development,
China Ministry of Information Industry (MII).
The LiveEdge judging criteria include usefulness of the
application, originality and innovation, technical merit,
its effect on the global environment, feasibility of the
design, efficient use of energy, end of life consideration,
innovative use of components, cost optimisation,
completeness of design dossier and clarity of supporting
documentation.
The 2007 LiveEdge awards will be presented at a virtual
awards ceremony via the Internet on 31st January 2008. This
year's LiveEdge winner will also have the honour to be a
member of the 2008 panel of judges for next year's
competition and will be supported by Premier Electronics to
take their design through to prototype.
In addition to an outright winner the Awards will also
recognise 5 Highly Commended designs.
"We are immensely proud to have such a
distinguished world-renowned group of industry
professionals as our panel of judges for this first ever
electronic design competition for the global
environment," said Harriet Green, Chief Executive
Office of Premier Farnell plc. "With over 3,200
designs registered, and the feedback we have received it is
clear that the design engineering community has really
embraced this opportunity to have a positive impact on the
future of the environment and see their own vision become a
reality."
About LiveEdge:
The winning entrant will receive a cash prize of US
$50,000 as well as the support to move the design towards
production. The support package, estimated to be worth an
additional US $50,000, will include the services of an
electronic design consultancy that will develop the design
to prototype stage, assistance with legal matters and IP
registration, marketing and publicity, as well as Premier
Electronics' help in securing investment funding. The group
will actively market the end product to millions of
customers globally through their leading edge Web site,
catalogue and direct marketing.
In addition, up to five entrants will be eligible for
'honourable mentions', each receiving a cash prize of US
$5,000.
The closing date for registration is October 31st 2007
and entries must be submitted by November 30th 2007. The
competition is open to anyone aged 18 or over and the
winner will be announced in January 2008.
More information about Live Edge is available at
http://www.LiveEdge.com.
About Premier Farnell
Premier Farnell plc (LSE: pfl) is a leading high
service, multi-channel distributor of electronic,
maintenance, repair and operation products and specialist
services throughout Europe, the Americas and Asia Pacific.
It goes to market with a differentiated value proposition,
world-class marketing, a stocked range of 400,000+
products, with access to more items from over 3,000 of the
world's leading manufacturers. The company has group sales
of 823.1m pounds Sterling and 4,100 employees globally.
While global in scope, Premier Farnell recognizes the
individual needs of each market and has continued to
internationalize its model accordingly, trading locally
under different brand names. Its primary electronics
businesses trade as Farnell in the UK, Europe, Australia
and New Zealand, Newark in the US, Canada and Mexico, and
Premier Electronics in China. In Singapore, Malaysia, Hong
Kong and Brazil the operation is known as Farnell Newark.
For more information visit the website at
http://www.premierfarnell.com
Contact details for publication and editorial
enquiries:
Athena Wang
Managing Director
Premier Electronics
Mobile: +86-1592-1663-937
Email: awing@premierfarnell.com
Issued by:
Jonathan Roberts, Account Director, Pinnacle Marketing
Communications Ltd,
Prosperity House, Dawlish Drive, Pinner, Middlesex, HA5
5LN, UK
Email: jonathan@pinnaclemarcom.com
Tel: +44-0-208-869-9401
Website: http://www.pinnacle-marketing.com
2007'11.23.Fri
Nikko Hotels Selected Best Regional Hotel Chain/Asia Pacific
October 27, 2007
... Winner of TTG Travel Award; selected by vote of travel
professionals
TOKYO, Oct. 26 /Xinhua-PRNewswire/ -- Nikko Hotels
International was selected as Best Regional Hotel Chain at
the 18th TTG Travel Awards 2007, an award bestowed by the
vote of travel agents, tour operators and destination
management company readers of TTG publications. The award
was presented by TTG to JAL Hotels Co., Inc., operator of
the Nikko Hotels International group of luxury hotels, at
The TTG Travel Awards 2007 Ceremony and Gala Dinner
yesterday in Bangkok. The awards are considered the most
coveted and influential in the Asia Pacific's travel
industry.
There was only one recipient for the award. Readers
were allowed only one vote per person during a three-month
period. The voting was based on the following criteria:
providing the best service, network and schedules; most
agent-friendly in terms of reservations, confirmations and
commission payments; and most professional sales and
marketing team in terms of innovative ideas, incentive
programs and servicing.
About Nikko Hotels
Nikko Hotels International is an international luxury
hotel group operated by JAL Hotels Co., Ltd., a subsidiary
of Japan Airlines, headquartered in Tokyo, Japan. In
addition to Nikko Hotels International, JAL Hotels also
operates Hotel JAL City, a chain of 14 mid-priced hotels
for business travelers in Japan. As of October 20, 2007,
JAL Hotels Co., Ltd. has 65 hotels with 21,022 rooms
worldwide, in Europe, the Middle East, the Americas and
throughout Japan and the Asia/Pacific region.
This year, the company opened the 171-room Hotel Nikko
Northland Obihiro on April 1st, the 373-room Hotel Nikko
Tianjin in Tianjin, China on April 11th, and the 257-room
Hotel JAL Fujairah Resort & Spa, a five-star Nikko
Hotels International property, in Fujairah, UAE, on May
15th. Future openings include the 478-room Hotel JAL Tower
Dubai, in Dubai, UAE, in 2008, and the 300-room Hotel JAL
Bahrain Resort & Spa, in 2009, both to be new members
of the Nikko Hotels International group.
For more information, please contact:
Abby Ray
Nikko Hotels International
Tel: +1-212-583-1043 ext. 14
Email: aray@bridgeny.com
2007'11.23.Fri
Perfect World TO Announce Third Quarter Financial Results on November 9, 2007
October 26, 2007
BEIJING, Oct. 26 /Xinhua-PRNewswire/ -- Perfect World
Co., Ltd. (Nasdaq: PWRD) ("Perfect World" or the
"Company"), a leading online game developer and
operator in China, today announces that it will release
unaudited financial results for the quarter ended September
30, 2007, before the market opens on Friday, November 9,
2007.
The Company will host a corresponding conference call
and live webcast at 8:00am Eastern Time (EDT) the same day
(9:00pm, Beijing time).
The dial-in details for the live conference call are as
follows:
-- U.S. Toll Free Number +1-877-847-0047
-- International dial-in number +852-3006-8101
Passcode: PWRD
A live and archived webcast of the conference call will
be available on the Investors section of Perfect World's
website at http://www.pwrd.com .
A telephone replay of the call will be available after
the conclusion of the conference call through 9:00 a.m.
Eastern Time, November 16, 2007.
The dial-in details for the replay are as follows:
-- U.S. Toll Free Number +1-877-847-0047
-- International dial-in number +852-3006-8101
Passcode: 176501
About Perfect World Co., Ltd.
Perfect World Co., Ltd. (Nasdaq: PWRD) ("Perfect
World" or the "Company") is a leading online
game developer and operator in China. Perfect World
primarily develops three-dimensional ("3D")
online games based on the proprietary Angelica 3D game
engine and game development platform. The Company's strong
technology and creative game design capabilities, combined
with extensive local knowledge and experience, enable it to
frequently and rapidly introduce popular games designed to
cater to changing customer preferences and market trends in
China. The Company's current roster of in-house developed
3D massively multiplayer online role playing games
("MMORPGs") include "Perfect World,"
"Legend of Martial Arts," "Perfect World
II" and "Zhu Xian." The Company uses a
time-based revenue model for "Perfect World," and
an item-based model for "Legend of Martial Arts,"
"Perfect World II" and "Zhu Xian."
While most revenues are generated in China, the Company's
games have been licensed to leading game operators in
eleven countries and regions. The Company plans to
continue to explore new and innovative business models and
remains deeply committed to maximizing shareholder value
over time.
For further information, please contact:
Perfect World Co., Ltd.
Vivien Wang
Investor Relation Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
Christensen Investor Relations
Brett Rose
Tel: +1-480-614-3013
Fax: +1-480-614-3033
Email: brose@christensenir.com
Jung Chang
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: jchang@christensenir.com
2007'11.23.Fri
Perfect World to Announce Third Quarter Financial Results on November 9, 2007
October 26, 2007
BEIJING, Oct. 26 /Xinhua-PRNewswire/ -- Perfect World
Co., Ltd. (Nasdaq: PWRD) ("Perfect World" or the
"Company"), a leading online game developer and
operator in China, today announces that it will release
unaudited financial results for the quarter ended September
30, 2007, before the market opens on Friday, November 9,
2007.
The Company will host a corresponding conference call
and live webcast at 8:00am Eastern Time (EDT) the same day
(9:00pm, Beijing time).
The dial-in details for the live conference call are as
follows:
-- U.S. Toll Free Number +1-877-847-0047
-- International dial-in number +852-3006-8101
Passcode: PWRD
A live and archived webcast of the conference call will
be available on the Investors section of Perfect World's
website at http://www.pwrd.com .
A telephone replay of the call will be available after
the conclusion of the conference call through 9:00 a.m.
Eastern Time, November 16, 2007.
The dial-in details for the replay are as follows:
-- U.S. Toll Free Number +1-877-847-0047
-- International dial-in number +852-3006-8101
Passcode: 176501
About Perfect World Co., Ltd.
Perfect World Co., Ltd. (Nasdaq: PWRD) ("Perfect
World" or the "Company") is a leading online
game developer and operator in China. Perfect World
primarily develops three-dimensional ("3D")
online games based on the proprietary Angelica 3D game
engine and game development platform. The Company's strong
technology and creative game design capabilities, combined
with extensive local knowledge and experience, enable it to
frequently and rapidly introduce popular games designed to
cater to changing customer preferences and market trends in
China. The Company's current roster of in-house developed
3D massively multiplayer online role playing games
("MMORPGs") include "Perfect World,"
"Legend of Martial Arts," "Perfect World
II" and "Zhu Xian." The Company uses a
time-based revenue model for "Perfect World," and
an item-based model for "Legend of Martial Arts,"
"Perfect World II" and "Zhu Xian."
While most revenues are generated in China, the Company's
games have been licensed to leading game operators in
eleven countries and regions. The Company plans to
continue to explore new and innovative business models and
remains deeply committed to maximizing shareholder value
over time.
For further information, please contact:
Perfect World Co., Ltd.
Vivien Wang
Investor Relation Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
Christensen Investor Relations
Brett Rose
Tel: +1-480-614-3013
Fax: +1-480-614-3033
Email: brose@christensenir.com
Jung Chang
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: jchang@christensenir.com
2007'11.23.Fri
WuXi PharmaTech (NYSE: WX) Ranked the 28th of Deloitte Technology Fast 50 China
October 26, 2007
SHANGHAI, China, Oct. 26 /Xinhua-PRNewswire/ -- WuXi
PharmaTech (NYSE: WX), China's premier provider of
pharmaceutical R&D outsourcing services announced today
that it has been ranked the 28th in the Deloitte Technology
Fast 50 China program, a ranking of the 50 fastest growing
technology companies in China. The awards ceremony was
held in the JW Marriott Hotel Shanghai at Tomorrow Square,
Shanghai on October 25.
(Logo: http://www.xprn.com/xprn/sa/200708281726.jpg )
The Deloitte Technology Fast 50 China program ranks
leading companies in Technology, Media and Telecom (TMT)
sectors based on their average revenue growth rates over
the last three years. Given China's rapid economic growth,
the strong development of the TMT industry, the government
advocating technology innovation and the appetite of local
and overseas venture capital for fast growing technology
companies, this year's revenue growth requirement for
winning has substantially increased. As a result, more
than half of the winners are the first time winners and
only one of the top 10 winners is a previous winner.
Ranked the 22nd, 27th and 28th in 2005, 2006 and 2007,
respectively, WuXi PharmaTech is one of the nine companies
to win the award for three consecutive years.
"We are pleased to be recognized by Deloitte for
our accomplishments for the third time," commented Dr.
Ge Li, Chairman and Chief Executive Officer of WuXi
PharmaTech. "As the whole industry sector enjoys
remarkable growth, WuXi PharmaTech has grown from a small
start-up to a New York Stock Exchange listed company. I am
very proud that we still can maintain our relative rank on
the list, and I would like to take this opportunity to
thank our customers for their strong supports and employees
for their dedication and hard work," continued Dr. Li.
About WuXi PharmaTech
Founded in 2000, Shanghai-based WuXi PharmaTech is the
leading China-based pharmaceutical and biotechnology
R&D outsourcing company. As a research- driven and
customer-focused company, WuXi PharmaTech provides
pharmaceutical and biotechnology companies a broad and
integrated portfolio of laboratory and research
manufacturing services throughout the drug discovery and
development process. WuXi PharmaTech's services are
designed to assist its global partners in shortening the
cycle and lowering the cost of drug discovery and
development by providing cost-effective and efficient
outsourcing solutions that save its customers both time and
money. Its operations are grouped into two segments:
laboratory services, consisting of discovery chemistry,
service biology, analytical, toxicology, pharmaceutical
development and process development services, and
manufacturing, focusing on manufacturing of advanced
intermediates and active pharmaceutical ingredients for
R&D use. In 2006, WuXi PharmaTech provided services to
70 pharmaceutical and biotechnology customers, including
nine of the top ten pharmaceutical companies in the world,
as measured by 2006 total revenues. For more information,
please visit: http://www.wuxipharmatech.com .
For more information, please contact:
Sherry Shao
Tel: +86-21-5046-4002
Email: pr@pharmatechs.com
2007'11.23.Fri
MyClick Strengthens Foothold in the China 3G Market
October 26, 2007
As Official Partner of Datang Mobile's TD-SCDMA Application
Development Centre
HONG KONG, Oct. 26 /Xinhua-PRNewswire/ -- MyClick Media
Limited ("MyClick") further demonstrates its
revolutionary mobile marketing technology and application
today at the opening ceremony of the latest TD-SCDMA
Application Development Centre in Beijing. Leveraging its
close relationship with Datang Mobile, MyClick will soon
bring China's 3G mobile advertising market to a new era.
TD-SCDMA Industry Alliance (TDIA) of China foresees
substantial growth in usage of TD-SCDMA (time
division-synchronous CDMA) standard in China with a
penetration rate expected to hit a minimum of 14% in 2008.
As one of the first few partners of Datang Mobile, MyClick
allows all advertisers and end-users in China to fully
utilize this state-of-the-art technology to achieve maximum
marketing effect in the near future.
Figures released by the MII (Ministry of Information
Industry) showed that by the end of August 2007, mobile
phone users in China had crossed 515,000,000 at an average
increase of 6,800,000 per month. The Ministry maintained
that China's production of mobile phones from January to
August totaled 347,600,000, a 28% rise from the
corresponding period in 2006. Constant demand for cell
phones seen in 2006 in the rural areas of the country also
boosted handset production in China dramatically.
Out of the projected 140,000,000 handset sales in China
in 2008, approximately 20-50 million will support China''s
proprietary 3G standard, representing a penetration of
14-35%. The business potential generated by TD-SCDMA is
substantial. About 18,000 base stations for TD-SCDMA in the
eight major cities are already planning to broadcast for the
2008 Beijing Olympic Games, which will contribute to an
explosive growth for the TD-SCDMA's development in China.
Moreover, there will also be 60,000,000 new mobile
subscribers in China by 2008.
According to Mr. Cheng Hong, Vice President of MyClick,
"We have been working together with Datang Mobile for a
long time and we believe our close partnership will
contribute to a truly win-win situation for both parties.
Riding on our innovative solutions and commitment to the
mobile phone market, MyClick will bring surprises to the
market from time to time.
For more information, please contact:
Belinda Chan / Katherine Chow
Tel: +852-2372-0090
Mobile: +852-9379-3045 / +852-9256-3223
Email: belinda@creativegp.com / kat@creativegp.com
2007'11.23.Fri
Macau.Com (TM) Launches Action Packed Escapades Aimed at Showcasing Electrifying Side of Macau
October 26, 2007
MACAU, Oct. 26 /Xinhua-PRNewswire/ - MACAU.COM (TM)(
http://www.macau.com ) launches Action November, an online
travel fair that introduces unbeatable packages headlined
by Macau Grand Prix and Sampras versus Federer Tennis
Showdown from only HKD388 per person. Visitors can log on
to http://www.macau.com/action before 31 October to book
the packages which include hotel stays and tickets to
experience the adrenaline pumping events and activities in
Macau.
The Action November Online Travel Fair provides
visitors a chance to experience a different side of Macau
with packages that offer up to 45% savings. November is an
action-packed month for Macau with events such as the Macau
Grand Prix and Tennis Showdown between Pete Sampras and
Roger Federer. As the leading Macau-based online
destination company and travel agency, Macau.com (TM) is
committed to offering exclusive packages at unbelievably
low rates and showcasing the fun and exciting side of Macau
to the rest of the world.
"This is just the first of many exciting
world-class acts to come. As Macau grows into the most
visited destination in Asia, Macau.com (TM) is here to
support Macau's transition into a riveting world-class
destination that appeals to holidaymakers of all
stripes." says Christina Siaw, CEO of Macau.com (TM).
Macau.com (TM) also offers special deals and promotions
to travelers via its free email e-newsletter, The Insider,
every fortnight. To get free regular email updates on
Macau special offers, please go to http://www.macau.com .
About Macau.com(TM)
Macau.com (TM) is the premier web portal and online
travel agency for hotel accommodation, packaged tour
products for Macau and the Pearl Delta Region. With a
secure and technologically advanced online booking engine,
Macau.com (TM)'s services are targeted at Macau-bound
travelers coming from Mainland China, Hong Kong and high
growth-tourist areas including Southeast Asia, Taiwan,
Australia and North Asian markets such as Japan and Korea.
The company is owned by MKW Capital Management, a private
equity firm with investments in Macau-based businesses
including international airline VIVA Macau.
For more information, please contact:
Mr. Carrel N. T. IEONG
Tel: +853-2875-3126 ext. 851
Fax: +853-2875-3173
Email: cieong@corp.macau.com
2007'11.23.Fri
Nordson (China) Co., Ltd. Moves to Zhangjiang Hi-Tech Park
October 26, 2007
SHANGHAI, China, Oct. 26 /Xinhua-PRNewswire/ -- Nordson
(China) Co., Ltd., a wholly-owned subsidiary of the Nordson
Corporation (Nasdaq: NDSN) of Ohio, U.S.A., has moved their
corporate offices to Zhangjiang Hi-Tech Park in Pudong,
Shanghai.
The 8,000 square meter facility will house 190
employees and operate as a Center of Excellence to
demonstrate Nordson capability to customers in the
appliance, automotive, container, nonwovens, electronics,
furniture and wood assembly, life science, packaging,
powder and liquid painting, product assembly, and
semiconductor industries located in both China and the
broader Asia Pacific Region. In addition to office spaces,
the new location will have specialty customer demonstration
labs for each division, an advanced training center that can
hold 200 people, and 10 conference rooms.
According to Bradley C. Davis, Asia Pacific Group Vice
President, "this investment strongly supports our
long-term growth strategies and initiatives in continuing
the rapid expansion and success of our business in the fast
growing and high potential China market. The strength of
our growing and experienced local organization in China,
coupled with the world-class capabilities of this new
facility, allows us to fulfill our commitment to provide
the highest level of sales and aftermarket service support
to our customers in China and the Asia Pacific region,
while also supporting Nordson's Mission: Best commitment
that Nordson will be the best company in every market and
location where we do business."
Nordson China began in 1991 with a two-person Shanghai
Representative Office. Four years later Nordson (China)
Co., Ltd. was established in Pudong.
The new facility will house the Packaging, Product
Assembly, Nonwovens and Core Coating, UV Curing, Industrial
Coatings and Automotive, Asymtek, EFD and March Plasma
Systems businesses of Nordson in China. In addition, the
departments for Finance & Accounting, Human Resources,
Administration, IT, and Logistics for Nordson China will be
located here.
Nordson Corporation is one of the world's leading
producers of precision dispensing equipment that applies
adhesives, sealants and coatings to a broad range of
consumer and industrial products during manufacturing
operations. The company also manufactures equipment used in
the testing and inspection of electronic components as well
as technology-based systems used for curing and surface
treatment processes. Headquartered in Westlake, Ohio,
Nordson has more than 3,900 employees worldwide, and direct
operations and sales support offices in 30 countries.
For more information, please contact:
Queenie Fan
Marketing Communications Manager - Asia Pacific Group
Tel: +852-2687-2828
Email: qfan@nordson.com
2007'11.23.Fri
Bloomberg TV Focuses on Korea This Coming Week: Oct 29-Nov 2
October 26, 2007
Bloomberg Seoul Bureau Reports on the Country's Political
and Economic Future during `Korea Focus Week'
NEW YORK and HONG KONG, Oct. 26 /Xinhua-PRNewswire/ --
Starting Monday, BLOOMBERG TELEVISION(R) viewers across
Asia will get an in-depth look at the Korean economy and
businesses, as part of BLOOMBERG TELEVISION's "Korea
Focus Week." A special series of reports and exclusive
interviews from the Bloomberg Seoul bureau will examine the
Korean economy, the outlook of the country's political and
economic future, relations between North and South Korea,
the upcoming presidential election and the latest consumer
trends.
The BLOOMBERG TELEVISION series will feature interviews
with South Korea's Finance Minister and Deputy Prime
Minister Kwon Okyu; Song Min-Soon, South Korea's Minister
of Foreign Affairs and Trade; Kim Jong-Kap, CEO of Hynix
Semiconductor Inc.; Shin Heon-Cheol, President and CEO of
SK Energy; Lee Cheol-Woo, CEO of Lotte Shopping Co. Ltd;
Choi Hyung-Tak, CEO of Ssangyong Motor; and Lee Myung-Bak,
former mayor of Seoul and front-runner for Korea's
presidential election in December, according to recent
opinion polls.
"Korea Focus week" will air Monday, October
29th through Friday, November 2nd. Segments will air on the
BLOOMBERG TELEVISION programs Bloomberg Live, Bloomberg Now,
Bloomberg Today, Voices and Asia Business Tonight.
This exclusive news and follow up reports are available
to the public on BLOOMBERG TELEVISION and BLOOMBERG RADIO(R)
services worldwide, as well as to users of the BLOOMBERG
PROFESSIONAL(R) service. Clips from the interviews will be
archived and available via the BLOOMBERG PROFESSIONAL
service.
About Bloomberg Television
The BLOOMBERG TELEVISION(R) network is the only
worldwide 24-hour business and financial network. The
BLOOMBERG TELEVISION service is produced and distributed on
11 separate channels in seven languages. BLOOMBERG
TELEVISION programming is created and supported by the
global BLOOMBERG NEWS(R) service with more than 2,300
professionals in over 130 bureaus.
About Bloomberg
Bloomberg is the global provider of data, news and
analytics to the financial markets. The BLOOMBERG
PROFESSIONAL(R) service and Bloomberg's media services
provide real-time and archived financial and market data,
pricing, trading, news and communications tools in a
single, integrated package to corporations, news
organizations, financial and legal professionals and
individuals around the world. Bloomberg's media services
include the global BLOOMBERG NEWS(R) service with more than
2,300 professionals in over 130 bureaus worldwide; the
BLOOMBERG TELEVISION(R) 24-hour business and financial
network produced and distributed worldwide on eleven
separate channels in seven languages; and BLOOMBERG
RADIO(R) services which provide up-to-the-minute news on
XM, Sirius and WorldSpace satellite radio around the world
and on WBBR 1130AM in New York. In addition, Bloomberg
publishes BLOOMBERG MARKETS(R) magazine and BLOOMBERG
PRESS(R) books for investment professionals. For more
information please visit http://www.bloomberg.com .
For more information, please contact:
Heidi Tan
Bloomberg LP
Tel: +1-212-617-5375
Email: htan14@bloomberg.net
2007'11.23.Fri
TravelCLICK Selected by Crown Towers for Brand-Strengthening Hotel Marketing Solutions
October 26, 2007
Luxury Casino Hotel in Macau Implements the iHotelier
Solution: CRS, Market Intelligence and Media
CHICAGO, Oct. 26 /Xinhua-PRNewswire/ --
Crown Towers, as the first extension of Australia's
iconic Crown brand in Asia, has selected TravelCLICK, the
leader in hotel emarketing solutions, to provide a range of
hotel marketing solutions. The new 216-room property will
use the iHotelier central reservation system (CRS) with its
award-winning booking engine, iStay, to manage and grow
website and Global Distribution System (GDS) reservations;
TravelCLICK's market intelligence tools, Hotelligence and
RateVIEW, to benchmark bookings performance against
competitors; and TravelCLICK's Travel Agent Media Preferred
Placement and Travel Agent Targeted Advertising to ensure
superior visibility on the GDS. Crown Towers' sister
properties in Australia -- Crown Towers Melbourne and Crown
Promenade -- also use TravelCLICK's comprehensive suite of
hotel merchandising solutions.
"TravelCLICK is helping us strengthen our brand
awareness throughout the region and around the world,"
said Peter Crinis, Executive General Manager of Crown
Towers. "The iStay web booking engine is the perfect
complement to the luxurious experience offered at Crown
Towers, giving us the power to merchandise the property and
compete with other well-known casino hotels in this market.
The single-screen booking process is intuitive and easy to
use and provides our guests with a memorable online
shopping experience. Also a factor in our selection of
TravelCLICK was the company's successful relationship with
our sister properties, particularly Crown Towers Melbourne,
which leads its market in electronic distribution despite
the fact that it is not affiliated with a global
chain."
Crown Towers wanted a web booking solution that would
drive revenue online. iHotelier's award-winning booking
engine, iStay, creates a dynamic shopping environment,
displaying room rates and availability along with enticing
photography and descriptions on a single screen. Its
seamless connectivity to the GDS and GDS-powered portals
allows the property to control rates and availability,
monitor performance, and identify opportunities for
growth.
Crown Towers also wanted to ensure its share of
business from the high-margin travel agent segment and
implemented TravelCLICK's Travel Agent Media Preferred
Placement and Travel Agent Targeted Advertising to capture
the attention of travel agents at the point of sale.
TravelCLICK's proven market intelligence solutions,
Hotelligence and RateVIEW, give Crown Towers a competitive
advantage through comprehensive reports that allow the
hotel to see how it measures up against its competitors,
identify marketing opportunities, and implement rate and
inventory strategies that increase bookings across
electronic channels.
"The hospitality industry in Asia is booming, with
Macau recently overtaking Las Vegas as the world's No. 1
gambling market," said Jan Tissera, President of
TravelCLICK International. "As we have seen with
renowned casino hotel clients in Las Vegas and throughout
the world, our brand-strengthening solutions are ideal for
properties like Crown Towers that want to gain a strong
foothold in a highly competitive market. TravelCLICK's
suite of reservations, market intelligence, and travel
agent media not only will ensure the property's visibility
among online consumer shoppers and travel agents, but also
will help the hotel make sound business decisions that
increase market share and drive long-term performance and
growth."
Crown Towers is a stylish hotel located within Crown
Macau, a world-famous six-star hotel and casino experience,
with premium entertainment, elegant facilities, high-quality
service, and rich decor. As the tallest building on Taipa
island, the hotel is uniquely positioned to offer panoramic
views of the Macau peninsula from the spectacular 38th-floor
lobby and the expansive floor-to-ceiling windows featured in
every guestroom. It features a multi-level casino with
183,000 square feet of gaming space; luxury accommodations,
including 184 guest rooms, 24 suites, and eight villas;
eight restaurants; two bars; a business center; and a
lavish two-level spa and wellness facility.
About TravelCLICK Inc.
TravelCLICK (http://www.travelclick.net) is the leading
provider of emarketing solutions that help hotels sell rooms
smarter and drive long-term profitability. TravelCLICK helps
hotels maximize asset ROI by combining innovative market
analysis and proven industry best practices with advanced
technology to develop and implement high-return strategies.
The company offers a full set of solutions including
reservations and distribution management, market
intelligence-based decision support, and marketing
services. Serving the hospitality industry since 1999 and
headquartered in the Chicago area, TravelCLICK has more
than 12,000 customers in 140 countries.
For more information, please contact:
Katrina Pruitt-Andrews
TravelCLICK Inc.
Phone: +1-410-257-9154
Email: kpandrews@travelclick.net
2007'11.23.Fri
Trend Micro to Acquire Provilla for Global Data Leak Prevention
October 26, 2007
Trend Micro will augment content-security solutions with
the addition of innovative data leak prevention experts,
technology and products
CUPERTINO, Calif. and TOKYO, Oct. 26
/Xinhua-PRNewswire/ -- Trend Micro Incorporated (TSE:
4704), a leader in network antivirus and Internet content
security software and services, announced today a
definitive agreement to acquire Provilla, Inc., a leading
provider of fingerprint-based intelligent endpoint
solutions for data leak prevention (DLP) in organizations.
Under the agreement, Provilla will operate as a subsidiary
of Trend Micro's U.S. affiliate. Provilla's data leak
prevention experts as well as technology and products will
enhance the Trend Micro portfolio of easily deployed and
managed multi-layered content-security solutions for
business customers.
Organizations of all sizes are vulnerable to data leaks
that expose them to security, intellectual property,
monetary, privacy and compliance threats. On-the-move
workers, equipped with unsecured, unprotected mobile
computers, may inadvertently or intentionally expose
confidential company information via wireless networks.
With an ever increasing array of USB-based devices, all
corporate desktops are now also at risk. An organization's
time, money, and reputation are at risk when such a data
leak occurs, with security professionals urgently
attempting to recover sensitive data and mend the leak.
Enterprise security professionals are in constant
battle: Even when old leaks are controlled, new data leaks
frequently occur through a plethora of other endpoints.
Provilla technology intelligently controls leaks at
multiple endpoints. The technology also lets organizations
know the exact locations of sensitive data for active and
effective control. Provilla products also educate and
sensitize end users to corporate policies and regulatory
requirements.
"Trend Micro is focused on providing customers
with the most useful, intelligent, centrally-controlled
content-security solutions to address the latest
unpredictable, malicious threats entering or leaving
organizations, and that includes intentional or inadvertent
data leaks," said Eva Chen, CEO and co-founder of Trend
Micro. "Solving this growing problem will require
broader and deeper insight into the multiple endpoint data
leak vulnerabilities and the use of intelligent solutions
that can identify sensitive data and prevent its misuse
through endpoint devices and channels. The acquisition of
Provilla strengthens our ability to execute on our
content-security strategy, with technology and products
complementing our own."
"As demand for DLP solutions has ramped quickly,
we have been able to meet the need with a steady stream of
innovative products and advancements primarily because of a
stellar group of Provilla technologists," said Shu
Huang, chief technical officer, Provilla. "Our people
are excited by the opportunity to join forces with the
Trend Micro team, which is known for a commitment to
technical innovation and to customers globally that starts
at the top and permeates the ranks. We see this as an
opportunity to build a complete data leak prevention
product suite that fits with Trend Micro's philosophy of
central security management." Trend Micro will
continue to offer Provilla's stand-alone products for the
near term as well as gradually integrate Provilla's
capabilities into its own enterprise, small and medium
business solutions. Provilla products are deployed in North
America, China, Taiwan, Europe and Japan.
Teleconference for Media Outlets, Analysts
To hear further information regarding this
announcement, Trend Micro is holding a telephone conference
today, 25 October, at 8:30 am PDT / 11:30 am EDT / 4:30 pm
BST / 5:30 pm CEST.
Those wishing to attend can get more
information/dial-instructions at:
http://us.trendmicro.com/us/about/news/index.html
For those unable to join the call, please contact Trend
Micro PR at
+1-408-863-6583 directly to obtain further information.
About Trend Micro Incorporated
Trend Micro Incorporated is a pioneer in secure content
and threat management. Founded in 1988, Trend Micro provides
individuals and organizations of all sizes with
award-winning security software, hardware and services.
With headquarters in Tokyo and operations in more than 30
countries, Trend Micro solutions are sold through corporate
and value-added resellers and service providers worldwide.
For additional information and evaluation copies of Trend
Micro products and services, visit our Web site at
http://www.trendmicro.com.
About Provilla, Inc.
Provilla, Inc. is a leading provider of ultra-accurate,
intelligent endpoint solutions for enterprise data leak
prevention (DLP). Providing the broadest coverage and
highest accuracy and performance in the industry,
Provilla's flagship LeakProof product suite combines
patented DataDNA fingerprinting technology with intelligent
agents to help enterprises protect their intellectual
property and confidential information and maintain
regulatory compliance. Privately owned and with
headquarters in Silicon Valley, Provilla offers the only
solution that stops leaks of any data, any time, anywhere.
DataDNA(TM), RapidScan(TM), and LeakProof(TM) are
trademarks of Provilla, Inc. All other products and
services mentioned herein are trademarks or registered
trademarks of their respective companies.
For more information, please contact:
Michael Sweeny
Trend Micro Incorporated
Tel: +1-408-863-6384
Email: Michael_sweeny@trendmicro.com
Andrea Mueller
Trend Micro Incorporated
Tel: +1-408-863-6583
Email: Andrea_Mueller@trendmicro.com
2007'11.23.Fri
First 'LEED' Platinum Rated Green Building, in the Middle East, Inaugurated in Dubai
October 25, 2007
- The Headquarters of Pacific Controls is the First
Platinum Rated Green Building in the Middle East and
Sixteenth in the World
DUBAI, United Arab Emirates, Oct. 25
/Xinhua-PRNewswire/ -- Pacific Control Systems, an
automation company with operations around the world, today
inaugurated its headquarters in Techno Park, Dubai. The
headquarter building is the first Platinum rated green
building accredited by the US Green Building Council
(USGBC) Leadership in Energy and Environment Design (LEED)
programme in the Middle East and sixteenth in the world.
H.E. Mohammad Al Gergawi, Minister of State for Cabinet
Affairs of the Federal Government of the United Arab
Emirates and Executive Chairman of Dubai Holding,
inaugurated the building.
Mr. Jamal Majid Bin Thaniah, Vice Chairman of the Board
of Ports and Free Zones, Group Chief Executive Officer Ports
& Free Zone World & Vice Chairman DP World, spoke
during the occasion.
The inauguration event was also attended by Ms. Salma
Hareb, CEO Jafza and Economic Zones World, Mr. Sami Dhaen
Al Qamzi, Director General Department of Finance, Brigadier
Rashid Thani Al Matroushi, Director of Dubai Civil Defence,
Mr. Marwan Al Qamzi, Managing Director, Dubai Waterfront
and Jebal Ali Palm, Ahmed Abdul Hussain, CEO of EHS, Mr.
Jamal Lootah, CEO Imdaad, and other senior officials and
dignitaries.
Mr. Sandy Wiggins, Chairman, US Green Building Council,
delivered the keynote address at the event.
Commenting on the inauguration of the headquarters, Mr.
Dilip Rahulan, Chairman and CEO, Pacific Controls, said:
"We are proud to unveil our headquarters today. Our
headquarter building is built in line with our commitment
to the UAE government's drive towards achieving sustainable
development in the region. It is our belief that our
initiative will set a new benchmark for other green
development projects in the UAE and elsewhere,
demonstrating our commitment to environmental stewardship
and Corporate social responsibility."
The award winning headquarter building has achieved
LEED certification from the USGBC, accumulating a total of
55 points. The Green building has already won two
international awards one at Boston in June 2007: as the
"Extreme Office Building in the world",
"Digie Award" against Taipei 101 and Shanghai
Financial Centre; and the Best Intelligent Building in the
World in, Chicago Buildcon 2007.
In his concluding statement Mr. Dilip Rahulan, Chairman
and CEO, Pacific Controls, announced that Pacific Controls
is now looking beyond Platinum Green Buildings and will
Pioneer the process of building the Worlds first
"Living Building", as its Research and
Development Centre in Dubai.
For further information, please visit
http://www.pacificcontrols.net
For more information, please contact:
Mr. Morris Tannon,
Pacific Control Systems LLC, Dubai
Tel: +971-4-8869000
Fax: +971-4-8869001
2007'11.23.Fri
DARA BioSciences, Inc. Announces New Board Chairman
October 25, 2007
RALEIGH, N.C., Oct. 25 /Xinhua-PRNewswire/ -- DARA
BioSciences announced that current Director, President and
CEO Richard A. Franco, Sr. has been appointed Chairman of
the Board of Directors. The announcement was made following
the October 23 Board of Directors meeting. Steve Gorlin and
Thomas W. D'Alonzo previously served as Co-Chairmen, and
will remain as Directors of the Company.
Steve Gorlin, Co-Founder of DARA, said, "Given his
vast experience in the public and private business sectors
as well as his clinical/scientific and business management
knowledge, the Board of Directors felt Richard Franco was
the natural selection to direct the future of DARA
BioSciences." Thomas W. D'Alonzo further commented,
" DARA BioSciences has an exciting future. The change
is appropriate at this time given DARA's pending transition
to public company status through the pending merger with
Point Therapeutics. Steve and I feel that DARA BioSciences
as well as the stockholders will benefit from Richard's
focused efforts and Board leadership."
Richard Franco has served as DARA's President, Chief
Executive Officer and a member of its Board of Directors
since 2005. Before joining DARA Mr. Franco co-founded
LipoScience, Inc., a private medical technology and
diagnostics company, and served as president, CEO, chairman
and director of that company from 1997 to 2001 and as its
executive chairman through 2002. Prior to founding
LipoScience, he was president, CEO and director of
Trimeris, Inc., Biopharmaceutical Company (TRMS). Mr.
Franco currently is a director of Salix Pharmaceuticals,
Ltd., (SLXP) a specialty pharmaceutical company; NeoMatrix,
LLC, a private medical technology company commercializing
screening systems for breast cancer detection; and the
Research Triangle Chapter of the National Association of
Corporate Directors (NACD). In addition, he served as a
director of EntreMed Inc. (ENMD), TriPath Imaging Inc
(TPTH) and Tranzyme Inc. and was a member of Glaxo Inc's
executive committee. Mr. Franco earned a Bachelor of
Science degree in pharmacy from St. John's University and
did his graduate work in pharmaceutical marketing and
management at Long Island University. His early career was
spent with Eli Lilly and Company as well as Glaxo Inc.
where he held senior management positions.
Upon accepting his new role as Chairman, Mr. Franco
commented, "DARA BioSciences exists due to the
foresight and relentless efforts of Steve Gorlin. With the
combined guidance of Steve and Tom D'Alonzo, the DARA Board
of Directors was able to deliver excellent results for
stockholders. For example, DARA has made two in-kind stock
distributions to stockholders within the past two and a
half years, which resulted from the successful
implementation of the Company's investment strategies and
business model. One of those investments was in Medivation,
Inc. (MDVN), which became a public company in 2005. Shares
in Medivation were distributed to DARA stockholders in
2005."
About DARA BioSciences, Inc.
DARA BioSciences(TM), Inc. ("DARA") is a
Raleigh, North Carolina-based development-stage
pharmaceutical company that acquires promising therapeutic
molecules and medical technologies directly or through
investment in established companies. DARA focuses its
therapeutic development efforts on small molecules from
late preclinical development through phase 2 clinical
trials. DARA is developing a portfolio of therapeutic
candidates for neuropathic pain, metabolic diseases
including type 2 diabetes, and dermatological disorders. On
October 10, 2007, DARA announced an agreement to merge with
Point Therapeutics, Inc. (Nasdaq: POTP) and on October 17,
announced the completion of an in-licensing transaction
with Bayer Pharmaceuticals.
For more information please contact the Company at 919
-872-5578 or visit our web site at
http://www.darabiosciences.com .
Please Note: This press release contains
forward-looking statements regarding future events. These
statements are just predictions and are subject to risks
and uncertainties that could cause the actual events or
results to differ materially. These risks and uncertainties
include receipt of stockholder approvals with regard to the
Point Therapeutics transaction and other risks that the
transaction might not close, integration of the two
companies, risks related to the potential lack of a liquid
market for the combined company's stock, reliance on key
employees, risks of testing of drug candidates for proof of
principle, risks of regulatory review and clinical trials,
competition, market acceptance for approved products, if
any, and intellectual property risks.
For more information, please contact:
John C. Thomas
Jr. Chief Financial Officer
Tel: +1-919-872-5578
Lynn H. Morris
Sr. Manager
Investor Relations & Corporate Operations
Tel: +1-919-872-5578
2007'11.23.Fri
HI's 3D Rendering Engine MascotCapsule(R)Exceeds 300 Million Shipments in Mobile Devices Worldwide
October 25, 2007
The Shipments of Embedded Devices Other than Cellular
Phones Also Exceed 3 Million Units!
TOKYO, Oct. 25 /Xinhua-PRNewswire/ -- HI CORPORATION
(Headquarters: Meguro-ku, Tokyo; President and CEO: Kazuo
Kawabata hereinafter "HI") (Jasdaq: 3846)
announced today that its 3D rendering engine
MascotCapsule(R) reached 300 million shipments (Note 1)
worldwide in mobile devices such as cellular phones.
MascotCapsule has been widely adopted worldwide by
being embedded into the handsets of four of the top five
overseas manufacturers. The engine was shipped in a record
number of embedded devices other than cellular phones, such
as home appliances like video camcorders, reaching 3
million devices as of September 2007.
"We are very excited that our flagship product
MascotCapsule has been shipped in more than 300 million
mobile devices. With HI and group businesses uniting as
one in the future, we pledge every effort to commit new
undertakings, such as cooperation with chip vendors as well
as aggressively promoting MascotCapsule for cellular phones
and home appliances domestically and overseas." said
Kazuo Kawabata, HI's President and CEO.
(Note 1) It is confirmed that the units of 300 million
shipments were counted through the end of June 2007,
including a part of shipments by domestic carriers and
manufacturers from July to September (the shipments
overseas and the other part of domestic carriers and
manufacturers has not been counted as of October 25th,
2007).
* MascotCapsule is a registered trademark of HI
CORPORATION in Japan.
About MascotCapsule
MascotCapsule is an embedded 3D rendering engine that
runs on a wide variety of devices including cell phones and
enables applications to execute real-time 3D graphic
processing. It is independent from the OS and users can
choose from six types (V1 - V4, nano released this spring,
and the latest -- eruption) according to their hardware
execution environment. It renders 3D expressions that are
far richer than 2D on a limited resource.
About HI CORPORATION
For more information, please visit our web site (
http://www.hicorp.co.jp ).
Contact:
HI CORPORATION
Marketing Division: Pam Hung, Mitsutaka Monma
Tel: +81-3-3710-9376
Email: press@hicorp.co.jp
2007'11.23.Fri
Corning Reports Strong Third-Quarter Earnings
October 25, 2007
CORNING, N.Y., Oct. 25 /Xinhua-PRNewswire/ -- Corning
Incorporated (NYSE: GLW) on Oct 24, 2007 announced results
for the third quarter of 2007.
(Logo: http://www.xprn.com/xprn/sa/200708141205-min.jpg
)
Third-Quarter Highlights
-- Sales reached $1.55 billion, up 21% year-over-year.
-- Earnings per share (both GAAP and non-GAAP) were
$0.38, better
than the company's guidance of $0.34 to $0.37 and
significantly
better than last year.
-- Display Technologies' glass volume increased 15% and
Samsung
Corning Precision's volume increased 14% compared to
quarter
two. Price declines in the quarter were in line with
previous
quarters.
-- Sequentially, telecommunications sales increased 8%
(10%*
excluding the impact of the divestiture of the
company's
submarine cabling business in the second quarter).
Fourth-Quarter Outlook Highlights
-- Sales are expected in the range of $1.50 billion to
$1.55
billion.
-- EPS is expected in the range of $0.36 to $0.38
before special
items.*
-- Display volume is expected to be up 2% to 5%
sequentially, and
consistent with the overall glass market growth.
-- Telecommunications sales are expected to decline
about 10%
sequentially, in line with normal seasonal patterns.
Wendell P. Weeks, chairman and chief executive officer,
said, "Corning delivered a robust third quarter with
excellent performance in our Display Technologies and
Telecommunications segments. As we expected,
telecommunications sales improved in the quarter."
Quarter Three Financial Comparisons
Q3 2007 Q2 2007 % Change Q3
2006 % Change
Net Sales in millions $1,553 $1,418 +10%
$1,282 +21%
Net Income in millions $ 617 $ 489 +26% $
438 +41%
GAAP EPS $ 0.38 $ 0.30 +26% $
0.27 +41%
Non-GAAPEPS* $ 0.38 $ 0.34 +12% $
0.28 +36%
*These are non-GAAP financial measures. The
reconciliation between GAAP and non-GAAP measures is
provided in the tables following this news release, as well
as on the company's investor relations website.
Overview of Business Segment Results
Third-quarter sales for Corning's Display Technologies
segment were $705 million, a 16% sequential increase, and a
39% increase over the third quarter 2006. The display
segment results were also positively impacted by a
favorable U.S.-dollar-to-Japanese-yen exchange rate in the
quarter.
Telecommunications segment sales in the third quarter
were $472 million, an 8% sequential increase and a 4%
increase over the third quarter 2006. Excluding the impact
of the divestiture of the submarine cabling business, sales
were up 10%* over the second quarter and 13%* over the third
quarter 2006. The strong third-quarter performance was
driven by growth throughout the segment, including
increased demand for fiber-to-the-premises (FTTP) products
and private network projects. During the third quarter, the
company began shipments to a new European FTTP customer.
Environmental Technologies segment sales in the third
quarter were $198 million, a 4% sequential increase and a
29% increase over the third quarter 2006. Corning's Life
Sciences segment had sales of $78 million, remaining even
with last quarter, and 15% higher than a year ago.
Corning's equity earnings from Dow Corning were $81
million in the third quarter, compared to $88 million in
the second quarter and $78 million a year ago.
Third-quarter equity earnings include a $4 million
nonrecurring tax charge.
The company's third-quarter results included two
special items: a credit of $16 million related to the
Pittsburgh Corning Corporation settlement and $18 million
of restructuring charges in equity earnings from Samsung
Corning Company, Ltd. Samsung Corning is Corning's
50-percent owned equity venture in Korea which manufactures
glass panels and funnels for cathode ray tubes for
conventional televisions and computer monitors.
Fourth-Quarter 2007 Outlook
"The overall display market appears healthy
heading into the fourth quarter. Retail market indicators
continue to point toward a strong consumer holiday buying
season for electronic goods such as LCD televisions, laptop
computers and flat screen monitors. We currently see no
evidence of credit concerns in the U.S. impacting
consumers' purchasing decisions," James B. Flaws, vice
chairman and chief financial officer, said.
Business Segment Highlights
-- Sequential LCD volume in both the company's wholly
owned
business and at Samsung Corning Precision is
expected to
increase in the range of 2% to 5%. Corning's wholly
owned
business is on track to increase volume 37% to 38%
for the
full year. To meet this level of demand, the company
anticipates
running its operations at full capacity in the
fourth quarter.
Sequential price declines are again expected to be
in line with
previous quarters. Corning is assuming a
U.S.-dollar-to-Japanese-yen
exchange rate of 116 for quarter four.
-- Corning's Telecommunications segment sales are
expected to
increase about 5% (about 15%* excluding the impact
of
divestitures) versus the fourth quarter 2006, and
are on track
to grow about 3% (about 10%* excluding the impact of
divestitures)
this year.
-- Environmental Technologies segment sales are
expected to decline
about 10% sequentially, and increase about 15%
versus the fourth
quarter 2006.
-- Sales for the Life Sciences segment are expected to
decline
slightly on a sequential basis and be even with the
fourth
quarter 2006.
"Compared to last year, we expect our
fourth-quarter sales to be up about 10% to 13% and our EPS,
before special items, to increase 16% to 22%.* These
fourth-quarter results will bring our full-year sales
growth to about 12% and our full-year EPS growth, before
special items, to at least 21%* over 2006, bringing us
another outstanding year of performance for Corning,"
Flaws said.
Looking forward to 2008, Flaws said that Corning's
current view is that the LCD glass market will expand by at
least 400 million square feet, driven primarily by the
growth of LCD television demand. This square-footage growth
is similar to that experienced in both 2006 and 2007.
Corning intends to continue its current pricing strategy in
2008.
Third-Quarter Conference Call Information
The company will host a third-quarter conference call
on October 24 at 8:30 a.m. EDT. To access the call, dial
(210) 234-0000 approximately 10-15 minutes prior to the
start of the call. The password is QUARTER THREE. The
leader is SOFIO. To listen to a live audio webcast of the
call, go to Corning's Web site at
http://www.corning.com/investor_relations and follow the
instructions. A replay of the call will begin at
approximately 10:30 a.m. EDT, and will run through 5 p.m.
EST, Wednesday, November 7. To listen, dial (203) 369-1538.
No pass code is required. The audio webcast will be archived
for one year following the call.
Presentation of Information in this News Release
Non-GAAP financial measures are indicated with an
ASTERISK and not in accordance with, or an alternative to,
GAAP. Corning's non-GAAP net income and EPS measures
exclude restructuring, impairment and other charges and
adjustments to prior estimates for such charges.
Additionally, the company's non-GAAP measures exclude
adjustments to asbestos settlement reserves required by
movements in Corning's common stock price, gains and losses
arising from debt retirements, charges or credits arising
from adjustments to the valuation allowance against
deferred tax assets, equity method charges resulting from
impairments of equity method investments or restructuring,
impairment or other charges taken by equity method
companies, and gains from discontinued operations. The
company believes presenting non-GAAP net income and EPS
measures is helpful to analyze financial performance
without the impact of unusual items that may obscure trends
in the company's underlying performance. These non-GAAP
measures are reconciled on the company's Web site at
http://www.corning.com/investor_relations and accompanies
this news release.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is the
world leader in specialty glass and ceramics. Drawing on
more than 150 years of materials science and process
engineering knowledge, Corning creates and makes keystone
components that enable high-technology systems for consumer
electronics, mobile emissions control, telecommunications
and life sciences. Our products include glass substrates
for LCD televisions, computer monitors and laptops; ceramic
substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug
discovery; and other advanced optics and specialty glass
solutions for a number of industries including
semiconductor, aerospace, defense, astronomy and
metrology.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements
that involve a variety of business risks and other
uncertainties that could cause actual results to differ
materially. These risks and uncertainties include the
possibility of changes in global economic and political
conditions; currency fluctuations; product demand and
industry capacity; competition; manufacturing efficiencies;
cost reductions; availability of critical components and
materials; new product commercialization; changes in the
mix of sales between premium and non-premium products; new
plant start-up costs; possible disruption in commercial
activities due to terrorist activity, armed conflict,
political instability or major health concerns; adequacy of
insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete
inventory; the rate of technology change; the ability to
enforce patents; product and components performance issues;
stock price fluctuations; and adverse litigation or
regulatory developments. Additional risk factors are
identified in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only
as of the day that they are made, and Corning undertakes no
obligation to update them in light of new information or
future events.
For more information, please contact:
Media Relations Contact:
Daniel F. Collins
Tel: +1-607-974-4197
Email: collinsdf@corning.com
Investor Relations Contact:
Kenneth C. Sofio
Tel: +1-607-974-7705
Email: sofiokc@corning.com
2007'11.23.Fri
KKBOX and Chung-Hwa Telecom JV to Cultivate Digital Music
October 25, 2007
Taiwan Telecom Giant Moves to Promote Online Music
Aggressively
TAIPEI, Oct. 25 /Xinhua-PRNewswire/ -- KKBOX -- a
digital music subsidiary of Skysoft Inc. -- announced today
the reaching of a strategic investment deal with Taiwan's
telecom giant Chung-Hwa Telecom (NYSE: CHT), during which
CHT will make an undisclosed amount of cash investment to
assume its 30% stake. This Joint-Venture marks a new
market paradigm for the digital music industry in Taiwan.
Launched in Jan. 2005, KKBOX has successfully won
credits on its unique blend of conventional
subscription-download model with strong and exclusive
social-networking features; it differentiates itself from
other music download service providers by offering an array
of services for millions of users to legitimately listen to
music, including unlimited music streaming, creating their
own music blogs, sharing their playlists and making new
friends based on their interests. Being the world's
largest collection of Chinese songs, its database offers
content from over 140 music labels with 1.5 million songs.
KKBOX has become Taiwan's top music download services
provider with close to 300,000 paying subscribers and over
3.5 million registered users as of July 2007.
CHT currently dominates over 85% of Taiwan's consumer
broadband internet access market, and is a leader in the
nation's mobile 2.5G and 3G phone service subscribers. CHT
announced continued revenue growth in a recent report with
a majority generated from its 4.17m broadband household
subscribers and 8.56m mobile subscribers. It is believed
that through this new investment, KKBOX will receive
immediate positive impact on sales and profit through
tighter integration with CHT's existing broadband and
online-payment infrastructure, as well as its nationwide
distribution channel.
With the CHT's JV-cooperation, KKBOX is planning on new
business models to drive more customers by extending its
services from the existing PC platform to mobile phones and
digital home appliances.
KKBOX's holding company -- Skysoft Inc., operates with
its mission to focus on investing and developing digital
music applications and products, and is eyeing the huge
business opportunities ahead in the digital music industry.
Institutional investors in Skysoft Inc. include: Adobe
Systems, China Development Industrial Bank, Dwango, Orix
Corp. and TransCosmos Inc. etc.
KKBOX Website: http://www.kkbox.com.tw/
Skysoft Inc. Website: http://www.skysoft-inc.com/
For more information, please contact:
Ms. Eva Lau
Veda International Corp.
Tel: +886-2-2704-3024 Ext.126
Email: eva@veda.com.tw
Ms. Clio Lin
Skysoft Inc.
Tel: +886-2-2655-0369 Ext.101
Email: bd@skysoft-inc.com
Web: http://www.skysoft-inc.com/
2007'11.23.Fri
SMART Alliance Launched by Navini, Beceem, Fujitsu, Runcom
October 25, 2007
Advances Beamforming, Beamformed MIMO technology and
multi-vendor CPE devices
TAIPEI, Oct. 25 /Xinhua-PRNewswire/ --
In an effort to drive harmonized system performance and
interoperability of Smart Antenna systems, Navini, Beceem,
Fujitsu and Runcom announce the formation of the
"SMart Antenna RF Test" Alliance (SMART). This
alliance has been formed to promote the adoption and
implementation of Beamforming (BF) and Beamformed MIMO (BF
+ MIMO) which are included in the 802.16e-2005
specification published by the IEEE and adopted by the
WiMAX Forum for Mobile WiMAX certification under Wave 2.
Smart Antenna systems are already deployed in commercial
Mobile WiMAX networks today.
"The capacity and coverage benefits of combining
Beamforming with MIMO are very compelling offering up to
double the capacity with twice the coverage of
non-beamformed systems," said Sai Subramanian,
Navini's vice president of Product Management. "This
Alliance ensures broad availability of CPE devices that
have full capability of Beamforming and Beamformed
MIMO."
The SMART Alliance will publish a system performance
baseline for the mandatory Smart Antenna features adopted
by the WiMAX Forum(1) for Mobile WiMAX.
The founding Charter members of the SMART alliance
are:
-- Navini Networks. Navini leads the Beamforming task
group, part
of the Certification Working Group in the WiMAX
Forum.
-- Beceem Communications. Beceem has been an outspoken
Smart
Antenna proponent in the IEEE and WiMAX Forum
working groups and
was the first to offer a commercial Mobile WiMAX
terminal
chipset that supports the WiMAX Forum Wave 2 Smart
Antenna
feature set.
-- Fujitsu Microelectronics America. Fujitsu recently
participated
in the first multivendor interoperability
demonstration of
Beamformed MIMO over Smart WiMAX, in partnership
with Navini.
Fujitsu is a member of the Beamforming task group in
the WiMAX
Forum's Certification Working group.
-- Runcom Technologies. Runcom has long been a
supporter of
Beamforming and MIMO, which the company recognizes
as a smart
way to obtain improved overall performance of WiMAX.
SMART Alliance members will collaborate on
implementation details to optimize performance and open
their field testing labs to other members for performance
interoperability testing. Performance test results will be
shared to ensure Smart Antenna technology deployments of
the highest possible system performance while maintaining
compatibility with the WiMAX Forum profiles and certified
products.
This will not replace or alter the tests and
certification processes already defined or planned by the
WiMAX Forum, but will supplement them to ensure that
multi-vendor products with Beamforming + MIMO can be
implemented with predictable performance and full
interoperability. The WiMAX Forum's certification testing
is limited to proving multi-vendor interoperability through
conformance to a defined profile specification. The SMART
alliance is open to all WiMAX Forum members interested in
the benefits of Smart Antenna systems.
(1) "WiMAX Forum" is a registered trademark
of the WiMAX Forum.
"WiMAX," the WiMAX Forum logo,
"WiMAX Forum Certified," and the
WiMAX Forum Certified logo are trademarks of the
WiMAX Forum.
All other trademarks are the properties of their
respective
owners.
For more information, please contact:
Maryvonne Tubb
Navini Networks
Tel: +1-972-852-4247
Email: mtubb@navini.com
2007'11.23.Fri
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2007'11.23.Fri
BioWa Announces Extended Licensing to MedImmune of BioWa's POTELLIGENT(R) Technology for Use in Antibody Research And Development
October 25, 2007
PRINCETON, N.J., Oct. 25 /Xinhua-PRNewswire/ -- BioWa,
Inc. (BioWa) announced today that it has entered into a
second agreement with MedImmune to provide additional
access to BioWa's patented POTELLIGENT(R) Technology
platform for the development of antibody-dependent cellular
cytotoxicity (ADCC) enhanced antibodies.
The agreement grants to MedImmune non-exclusive license
rights to develop, manufacture and market antibodies based
on POTELLIGENT(R) Technology for an undisclosed number of
targets. In return, BioWa receives from MedImmune certain
fees and milestone payments during product development, as
well as royalties on marketed products using ADCC enhanced
antibodies.
"We are pleased to extend our relationship with
MedImmune, a world-leading biologics business and the
cornerstone to AstraZeneca's plans to establish a major
international presence in the research and development of
biological therapeutics," said Dr. Masamichi Koike,
President and CEO of BioWa. "With MedImmune's superior
expertise in antibody-based drug development, this
collaboration complements BioWa's mission to bring about
the benefit of POTELLIGENT(R) Technology to patients as
quickly as possible."
About POTELLIGENT(R) Technology
POTELLIGENT(R) Technology improves potency and efficacy
of antibody therapeutics, by enhancing antibody-dependent
cellular cytotoxicity (ADCC), one of the major mechanism of
antibody therapeutics. POTELLIGENT(R) Technology involves
the reduction of the amount of fucose in the carbohydrate
structure of an antibody using a proprietary
fucosyltransferase-knockout CHO cell line as a production
cell. Research shows that POTELLIGENT(R) Technology
significantly enhances ADCC activity of an antibody in
vitro, thereby increasing the potential for improved
activity in vivo.
About BioWa, Inc.
BioWa is a wholly owned subsidiary of Kyowa Hakko Kogyo
Co., Ltd., Japan's pharmaceutical and largest biotech
company, and is the exclusive worldwide licensor of
POTELLIGENT(R) Technology, which creates high ADCC
monoclonal antibodies. Currently, BioWa is developing ADCC
enhanced monoclonal antibody-based therapeutics to fight
cancer and other life-threatening and debilitating diseases
and both BioWa and Kyowa have POTELLIGENT(R) antibody
products in various clinical stages. BioWa creates and
develops enhanced ADCC antibodies for itself and others,
offering a full range of antibody discovery and development
capabilities. For more information about BioWa, visit its
web site at www.biowa.com.
POTELLIGENT(R) is the trademark of Kyowa Hakko Kogyo
Co., Ltd. All rights are reserved.
For more information, please contact:
BioWa, Inc.
Masamichi Koike, Ph.D
President and CEO
Phone: +1-609-734-3420
Martina Molsbergen
Vice President, Business Management
Phone: +1-609-734-3430
2007'11.23.Fri
Spirit AeroSystems to Release Third Quarter Financial Results on Nov. 1
October 25, 2007
WICHITA, Kan., Oct. 25 /Xinhua-PRNewswire/ --
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) will
release its third quarter 2007 financial results at 6:30
a.m. (CT), on Thursday, Nov. 1.
President and Chief Executive Officer Jeff Turner and
Chief Financial Officer Rick Schmidt will participate in a
conference call presentation to securities analysts about
third quarter 2007 results and company outlook at 10:00 am
(CT).
That presentation will be broadcast via the Internet.
It will include charts and a question-and-answer session.
The company's news release detailing the results will also
be available. The live audio stream and slide presentation
can be accessed on Thursday, Nov. 1, at
http://www.spiritaero.com/investor.aspx.
Individuals are urged to check the website ahead of
time to ensure their computers are configured for the audio
stream and slide presentation.
On the web: http://www.spiritaero.com
For more information, please contact:
Spirit AeroSystems Holdings, Inc.
Philip Anderson, Investor Relations
Phone: +1-316-523-1797
Debbie Gann, Corporate Communications
Phone: +1-316-519-7340
2007'11.23.Fri
GLG Partners Reports Third Quarter 2007 Earnings
October 25, 2007
- Net Income of USD46 Million; Adjusted Net Income of
USD29 Million, Up
160% From Q3 2006
- Net Assets Under Management of USD20.5 Billion, Up
49% From Q3 2006
- Total Inflows of USD1.8 Billion During Q3 2007,
Including Managed
Account Inflows and Gross Fund-Based Inflows
LONDON, Oct. 24 /Xinhua-PRNewswire/ -- GLG Partners
(GLG), (Bloomberg: 493048Z LN) a leading alternative asset
manager, today reported net income of USD46 million for the
quarter ended September 30, 2007 and USD375 million for the
first nine months of 2007. Adjusted net income (net income
less limited partner profit share) was USD29 million, up
160% year-over-year, for the quarter ended September 30,
2007 and USD168 million, up 99% year-over-year, for the
first nine months of 2007.
GLG's net assets under management as of September 30,
2007 reached USD20.5 billion (net of assets invested from
other GLG managed funds), up 10% from June 30, 2007 and 49%
from September 30, 2006. GLG's gross assets under management
(including assets invested from other GLG managed funds)
were USD23.6 billion at September 30, 2007, up 10% from
June 30, 2007 and 48% from September 30, 2006. A
combination of performance and healthy inflows drove the
growth in assets under management (AUM) as set forth below
in Table 1.
"Our diversified model continued to work in the
volatile markets of the summer, showing particular strength
in Emerging Markets, led by Greg Coffey, and in the European
strategies, led by GLG Co-Founder, Pierre Lagrange, as well
as substantial net inflows broadly in our alternative
strategies," said Noam Gottesman, Co-Founder, Managing
Director and Co-CEO of GLG. "We are looking forward to
the upcoming completion of the reverse acquisition
transaction with Freedom Acquisition Holdings (Amex: FRH)
(Amex: FRH.U)
(Amex: FRH.WS) (Bloomberg: FRH/U US) ("Freedom")
in the coming weeks and remain excited about the prospects
for the future expansion and growth of our business."
Table 1: Assets Under Management
(USD in millions)
As of September
30,
2007
2006
Gross Fund-Based AUM USD 21,524 USD
14,519
Managed Accounts AUM 1,905
1,042
Cash and Other Securities 164
372
Gross AUM USD 23,593 USD
15,932
YoY % Change 48%
Net AUM USD 20,466 USD
13,718
YoY % Change 49%
Three Months Ended
Nine Months Ended
September 30,
September 30,
2007 2006
2007 2006
Opening Gross
Fund-Based AUM: USD 19,485 USD 14,351 USD
16,053 USD 11,484
Fund-based inflows
(net of redemptions): 1,798 (72)
3,350 1,541
Fund-based net
performance (gains
net of losses): 241 240
2,121 1,494
Closing Gross
Fund-Based AUM: USD 21,524 USD 14,519 USD
21,524 USD 14,519
% of Opening Gross Fund-Based AUM
Gross Fund-based
inflows (net
of redemptions): 9.2% (0.5%)
20.9% 13.4%
Gross Fund-based net
performance (gains
net of losses): 1.2% 1.7%
13.2% 13.0%
Opening Managed
Accounts AUM: USD 1,843 USD 937 USD
1,233 USD 335
Inflows (net
of redemptions): 38 96
457 766
Net performance
(gains net of losses): 24 8
215 (60)
Closing Managed
Accounts AUM: USD 1,905 USD 1,042 USD
1,905 USD 1,042
% of Opening Managed Accounts AUM
Inflows
(net of redemptions): 2.1% 10.3%
37.1% 228.8%
Net Performance
(gains net of losses): 1.3% 0.9%
17.5% (17.9%)
Note: Net performance is based on both opening AUM and
inflows during the period and can be influenced by heavy
inflows and fluctuations in currencies.
Financial Summary
For Q3 2007, total net revenues and other income was up
79% to USD103 million compared to USD57 million in the same
quarter last year, primarily due to increased management
fees as a result of performance and strong inflows across
the GLG managed funds. For the first nine months of 2007,
total net revenues and other income increased 78% over the
first nine months of 2006 to USD594 million.
Performance fees were immaterial in Q3 2007 as it is
our practice to recognize performance fees when they
crystallize, generally on June 30 and December 31 of each
year. Accordingly, when Q4's performance fees are reported
they will reflect crystallized second half performance.
Management and administration fees totalled USD95
million or 1.9% of average net AUM for Q3 2007, increases
of 69% and 29 basis points (bps), respectively, from the
same quarter in 2006. For the first nine months of 2007,
management and administration fees totalled USD242 million,
or 1.8% of average net AUM, increases of 56% and 16 bps,
respectively, over the first nine months of 2006. Other
income of USD7 million reflects primarily currency related
gains on cash held on our balance sheet during Q3 2007.
The total level of comprehensive limited partner profit
share, compensation and benefits ("PSCB") rose by
60% for Q3 to USD46 million. This is down by 539 bps to 45%
when expressed as a percentage of revenues, versus the same
period last year. PSCB is a financial measure not prepared
under U.S. generally accepted accounting principles, or
GAAP, and includes limited partner profit share as
described below under "Non-GAAP Financial
Measures." Employee compensation and benefits for Q3
2007 increased USD25 million over the same quarter last
year to USD29 million primarily due to the reversal in Q3
2006 of selected employee compensation and benefits
accruals as certain key personnel ceased to be employees
and became participants in the limited partner profit share
arrangement.
Please note that compensation expense and limited
partner profit share tied to fund performance is only
recognized when the related performance fees crystallize,
generally on June 30 and December 31 of each year. When Q4
is ultimately reported, the portion of compensation expense
and limited partner profit share tied to performance will
reflect crystallized second half performance as well as any
adjustments to amounts accrued in the first half.
PSCB for the first nine months of 2007 increased by 63%
to USD318 million but fell by roughly 471 bps to 54% when
expressed as a percentage of revenues when compared with
the same period a year ago. Employee compensation and
benefits for the first nine months of 2007 fell by 6%
year-over-year to USD111 million as a result of certain key
personnel ceasing to be employees when GLG established its
limited partner profit share arrangement in 2006.
General, administrative, and other expenses for Q3 2007
increased 56% to USD26 million year-over-year, but fell 372
bps as a percentage of revenues to 25%. For the first nine
months of 2007, these expenses rose 82% year-over-year to
USD80 million or by 29 bps to 13% when expressed as a
percentage of revenues, reflecting increases in operating
costs due to significant growth in the business as well as
certain one-time costs recognized in the first half of
2007.
"Our risk management and controls infrastructure
performed well in what proved to be a turbulent period for
capital markets globally", said Emmanuel Roman, Co-CEO
and Managing Director of GLG. "Furthermore, our
operations continue to scale and we are encouraged by the
initial momentum with our new strategic partners, Istithmar
and Sal. Oppenheim."
Investor/Analyst Conference Call and Webcast
GLG will be hosting a conference call for investors and
analysts today at 11:00 AM EDT (New York City) / 4:00 PM BST
(Guernsey/London). The dial-in number for the live
conference call is +1-866-238-1665 in the US or
+44(0)207-15-32-010 in the UK. To access a webcast of the
conference call, please register via GLG's website
http://www.glgpartners.com.
The conference call replay can be accessed by dialling
+1-888-266-2081 in the US or +1-703-925-2533 in the UK and
entering access code #1156360. The webcast replay of the
conference call will also be available on the Company's
website at http://www.glgpartners.com. Both the dial-in and
webcast replay of the call will be available beginning on
October 24, 2007 at 2pm EST or 7pm BST until November 7,
2007.
About GLG
GLG, the largest independent alternative asset manager
in Europe and one of the largest in the world, offers its
base of long-standing prestigious clients a diverse range
of investment products and account management services.
GLG's focus is on preserving client's capital and achieving
consistent, superior absolute returns with low volatility
and low correlations to both the equity and fixed income
markets. Since its inception in 1995, GLG has built on the
roots of its founders in the private wealth management
industry to develop into one of the world's largest and
most recognized alternative investment managers, while
maintaining its tradition of client-focused product
development and customer service. As of September 30, 2007,
GLG managed gross AUM of over USD23 billion.
Forward-looking Statements
This press release contains statements relating to
future results that are forward-looking statements. Actual
results may differ materially from those projected as a
result of certain risks and uncertainties. These risks and
uncertainties include, but are not limited to: market
conditions for GLG managed investment funds; performance of
GLG managed investment funds, the related performance fees
and the associated impacts on revenues, net income, cash
flows and fund inflows/outflows; the cost of retaining
GLG's key investment and other personnel or the loss of
such key personnel; risks associated with the expansion of
GLG's business in size and geographically; operational
risk; litigation and regulatory enforcement risks,
including the diversion of management time and attention
and the additional costs and demands on GLG's resources;
risks related to the use of leverage, the use of
derivatives, interest rates and currency fluctuations;
costs related to the proposed acquisition; failure to
obtain the required approvals of stockholders of Freedom
Acquisition Holdings, Inc. for the proposed acquisition
transaction; and risks that the closing of the transaction
is substantially delayed or that the transaction does not
close, as well as other risks and uncertainties, including
those set forth in the definitive proxy statement filed by
Freedom with the Securities and Exchange Commission on
October 11, 2007. These forward-looking statements are made
only as of the date hereof, and GLG undertakes no obligation
to update or revise the forward-looking statements, whether
as a result of new information, future events or
otherwise.
GLG
Unaudited Combined Statement of Operations
(USD in thousands)
Three Months
Ended
September
30,
2007
2006 % Change
Net revenues and other
income
Management fees $ 78,558 $
47,010 67%
Performance fees 803
1,102 NM
Administration fees 16,306
9,128 79%
Other 6,905
- NM
Total net revenues and other
income 102,572
57,240 79%
Expenses
Employee compensation and
benefits (28,959)
(3,735) NM
General, administrative and
other (25,891)
(16,576) 56%
(54,850)
(20,311) 170%
Income from operations 47,722
36,929 29%
Interest income, net 3,048
1,029 196%
Income before income taxes 50,770
37,958 34%
Income taxes (4,735)
(1,803) 163%
GAAP Net income $ 46,035 $
36,155 27%
Nine Months
Ended
September
30,
2007
2006 % Change
Net revenues and other
income
Management fees $ 198,892 $
129,981 53%
Performance fees 343,835
177,047 94%
Administration fees 42,986
25,050 72%
Other 7,875
1,883 318%
Total net revenues and other
income 593,588
333,961 78%
Expenses
Employee compensation and
benefits (110,526)
(118,194) NM
General, administrative and
other (79,634)
(43,721) 82%
(190,160)
(161,915) NM
Income from operations 403,428
172,046 134%
Interest income, net 4,694
3,603 30%
Income before income taxes 408,122
175,649 132%
Income taxes (33,020)
(14,803) 123%
GAAP Net income $ 375,102 $
160,846 133%
GLG
Combined Balance Sheet
(USD in thousands)
As of
As of
September December
30,
31,
2007
2006
(unaudited)
Assets
Cash and cash equivalents $
391,732 $ 273,148
Investments
163 201
Fees receivable
40,687 251,963
Prepaid expenses and other assets
32,647 25,944
Property and equipment (net of accumulated
depreciation and amortization of $11,669
and $10,117 respectively)
8,966 6,121
Total Assets $
474,195 $ 557,377
Liabilities and Members' Equity
Current Liabilities
Rebates and sub-administration
fees payable $
19,473 $ 19,146
Accrued compensation and benefits
63,199 102,507
Income taxes payable
19,038 25,094
Distributions payable
71,311 9,310
Accounts payable and other accruals
14,753 19,716
Other liabilities
3,654 5,100
Total Current Liabilities
191,428 180,873
Non-Current Liabilities
Loan payable
13,000 13,000
Minority Interest
2,031 1,552
Total Non-Current Liabilities
15,031 14,552
Commitments and Contingencies
- -
Total Liabilities
206,459 195,425
Members' Equity
Members' equity
6,843 6,356
Retained Earnings
257,238 352,690
Accumulated other comprehensive income
3,655 2,906
Total Members' Equity
267,736 361,952
Total Liabilities and Members' Equity $
474,195 $ 557,377
GLG
Non-GAAP Adjusted Net Income for the Three and Nine Months
Ended September 30, 2007 and September 30, 2006
(USD in thousands)
Three Months Ended Nine
Months Ended
September 30, %
September 30, %
2007 2006 Change 2007
2006 Change
Derivation of
non-GAAP
adjusted net
income
GAAP Net income $ 46,035 $ 36,155 27% $ 375,102
$ 160,846 133%
Deduct: limited
partner profit
share (17,000) (25,000) (32%)
(207,500) (76,530) 171%
Non-GAAP
adjusted net
income $ 29,035 $ 11,155 160% $ 167,602
$ 84,316 99%
GLG
Non-GAAP Expenses for the Three and Nine Months Ended
September 30, 2007 and September 30, 2006
(USD in thousands)
Three Months Ended Nine
Months Ended
September 30, %
September 30, %
2007 2006 Change 2007
2006 Change
Non-GAAP
expenses
GAAP employee
compensation
and benefits $ (28,959) $ (3,735) $
(110,526) $ (118,194)
Limited
partner
profit share (17,000) (25,000)
(207,500) (76,530)
Non-GAAP
Comprehensive
limited
partner
profit share,
compensation
and benefits $ (45,959) $ (28,735) 60% $
(318,026) $ (194,724) 63%
GAAP General,
administrative and
other (25,891) (16,576) 56%
(79,634) (43,721) 82%
Non-GAAP
total
expenses $ (71,850) $ (45,311) 59% $
(397,660) $ (238,445) 67%
Non-GAAP Financial Measures
GLG presents certain financial measures that are not
prepared in accordance with U.S. generally accepted
accounting principals, or GAAP, in addition to financial
results prepared in accordance with GAAP.
Comprehensive Limited Partner Profit Share,
Compensation and Benefits ("PSCB"): GLG's
management assesses its personnel-related expenses based on
the measure "non-GAAP comprehensive limited partner
profit share, compensation and benefits", or non-GAAP
PSCB. This non-GAAP financial measure reflects GAAP
employee compensation and benefits, adjusted to include the
limited partner profit shares.
Beginning in mid-2006, GLG entered into partnerships
with a number of its key personnel who ceased to be
employees and instead became holders of direct or indirect
limited partnership interests in certain GLG entities.
These individuals continue to provide services to GLG,
either directly or through two limited liability
partnerships. Through their partnership interests, these
key individuals are entitled to profit shares in the form
of priority distributions paid as partnership draws. In
addition they may be entitled to an additional
discretionary limited partner profit share. The key
personnel that are participants in the limited partner
profit share arrangement described above do not receive
salaries or discretionary bonuses from GLG.
Under GAAP, limited partner profit share cannot be
presented as employee compensation expense. However,
management believes that it is more appropriate to treat
limited partner profit share as expense when considering
business performance because it reflects the cost of the
services provided to GLG by these participants in the
limited partner profit share arrangement. As a result, GLG
presents the measure non-GAAP PSCB to show the total cost
of the services provided to GLG by both participants in the
limited partner profit share arrangement and employees. For
purposes of this non-GAAP financial measure, GLG recognizes
the limited partner profit share in the period in which the
revenues related to the limited partner profit share are
recognized, rather than the period in which the limited
partner profit share distributions are made.
Non-GAAP PSCB is not a measure of financial performance
under GAAP and should not be considered as an alternative to
GAAP employee compensation and benefits.
Adjusted Net Income: GLG's management assesses the
underlying performance of its business based on the measure
"adjusted net income", which adjusts for the
difference between GAAP employee compensation and benefits
and non-GAAP PSCB as discussed above. Adjusted net income
is not a measure of financial performance under GAAP and
should not be considered as an alternative to GAAP net
income as an indicator of GLG's operating performance or
any other measures of performance derived in accordance
with GAAP.
GLG is providing these non-GAAP financial measures to
enable investors, securities analysts and other interested
parties to perform additional financial analysis of GLG's
personnel-related costs and its earnings from operations
and because it believes that they will be helpful to
investors in understanding all components of the
personnel-related costs of GLG's business. GLG's management
believes that the non-GAAP financial measures also enhance
comparisons of GLG's core results of operations with
historical periods. In particular, GLG believes that the
non-GAAP adjusted net income measure better represents
profits available for distribution to stockholders than
does GAAP net income.
Investors should consider these non-GAAP financial
measures in addition to, and not as a substitute for, or
superior to, measures of financial performance prepared in
accordance with GAAP. The non-GAAP financial measures
presented by GLG may be different from non-GAAP financial
measures used by other companies.
GLG
Financial Supplement
(USD in millions) Q3 2007 Q2 2007 Q3 2006
LTM(1) YTD(2)
Gross AUM 23,593 21,522 15,932
23,593 23,593
Net AUM 20,466 18,585 13,718
20,466 20,466
Average
net AUM 19,533 17,343 13,592
16,805 17,576
(USD in thousands)
Management
fees 78,558 62,991 47,010
255,184 198,892
Performance
fees(3) 803 340,512 1,102
561,527 343,835
Administration
fees 16,306 14,036 9,128
52,751 42,986
Other 6,905 472 -
10,891 7,875
Total net revenues
and other income 102,572 418,010 57,240
880,353 593,588
Employee
compensation and
benefits (28,959) (56,518) (3,735)
(160,717) (110,526)
General,
administrative
and other (25,891) (27,979) (16,576)
(104,177) (79,634)
Net interest
income 3,048 171 1,029
5,749 4,694
GAAP net income
before taxes 50,770 333,685 37,958
621,208 408,122
Income tax
expense (4,735) (25,031) (1,803)
(47,443) (33,020)
GAAP net income
after taxes 46,035 308,654 36,155
573,765 375,102
Limited
partner profit
share (17,000) (184,047) (25,000)
(332,420) (207,500)
Non-GAAP adjusted
net income (4) 29,035 124,607 11,155
241,345 167,602
Management fees and
Administration fees/
Avg. net AUM(5) 1.9% 1.8% 1.7%
1.8% 1.8%
Total net revenues
and other income
/Avg. net AUM(5) 2.1% 9.6% 1.7%
5.2% 4.5%
Employee compensation
and benefits and
limited partner profit
share/ Total net
revenues and other
income 45% 58% 50%
56% 54%
General, administrative
and other expenses/
Total net revenues and
other income 25% 7% 29%
12% 13%
Non-GAAP adjusted net
income/Total net
revenues and other
income 28% 30% 19%
27% 28%
Effective income tax
rate 14% 17% 14%
16% 16%
(1) LTM period is Oct 1, 2006 to Sept 30, 2007.
(2) YTD period is Jan 1, 2007 to Sept 30, 2007.
(3) Performance fees are recognised when they
crystallize, generally on
June 30 and December 31 each year. As a result, the
performance fee
revenues do not reflect revenues from
uncrystallised performance fees
during Q1 and Q3.
(4) See "Non-GAAP Financial Measures" for
further detail.
(5) Ratios annualized for Q3 2006 as well as Q2 and Q3
2007.
Composition of Assets Under Management Supplement
(USD in millions)
As of YOY As of
YOY Qtr on Qtr
June 30, % September 30,
% % Change
2007 2006 Change 2007 2006
Change Q3 Q3
2007 2006
Alternative
strategy $ 12,826 $ 9,059 42% $ 14,713 $
9,184 60% 15% 1%
Long-only 4,432 3,730 19% 4,561
3,735 22% 3% 0%
Internal
FoHF 1,627 1,086 50% 1,651
1,089 52% 1% 0%
External
FoHF 599 477 26% 598
511 17% 0% 7%
Gross
Fund-Based
AUM 19,485 14,351 36% 21,524
14,519 48% 10% 1%
Managed
accounts 1,843 937 97% 1,905
1,042 83% 3% 11%
Cash 194 339 (43%) 164
372 (56%) (16%) 10%
Total Gross
AUM 21,522 15,627 38% 23,593
15,932 48% 10% 2%
Less:
internal
FoHF
investments
in GLG
funds (1,642) (1,020) 61% (1,653)
(1,091) 52% 1% 7%
Less:
external
FoHF
investments
in GLG
funds (56) (13) 343% (55)
(48) 15% (1%) 281%
Less:
alternatives
fund-in-fund
investments (1,239) (1,127) 10% (1,419)
(1,075) 32% 14% (5%)
Net AUM $ 18,585 $ 13,467 38% $ 20,466 $
13,718 49% 10% 2%
Three Months Ended Three Months Ended
Nine Months
June 30, September 30,
Ended September 30,
2007 2006 2007 2006
2007 2006
Opening
Gross
Fund-Based
AUM $ 17,060 $ 12,934 $ 19,485 $ 14,351
$ 16,053 $ 11,484
Fund-based
inflows (net
of
redemptions) 1,393 1,407 1,798 (72)
3,350 1,541
Fund-based
net
performance
(gains net
of losses) 1,032 10 241 240
2,121 1,494
Closing
Gross
Fund-Based
AUM $ 19,485 $ 14,351 $ 21,524 $ 14,519
$ 21,524 $ 14,519
% of Opening
Gross
Fund-Based
AUM
Gross
Fund-based
inflows (net
of
redemptions) 8.2% 10.9% 9.2% (0.5%)
20.9% 13.4%
Gross
Fund-based
net performance
(gains net of
losses) 6.0% 0.1% 1.2% 1.7%
13.2% 13.0%
Opening
Managed
Accounts
AUM $ 1,398 $ 505 $ 1,843 $ 937
$ 1,233 $ 335
Inflows
(net of
redemptions) 351 536 38 96
457 766
Net
performance
(gains net
of losses) 94 (104) 24 8
215 (60)
Closing
Managed
Accounts
AUM $ 1,843 $ 937 $ 1,905 $ 1,042
$ 1,905 $ 1,042
% of Opening
Managed
Accounts AUM
Inflows
(net of
redemptions) 25.1% 106.1% 2.1% 10.3%
37.1% 228.8%
Net
Performance
(gains net
of losses) 6.7% (20.6%) 1.3% 0.9%
17.5% (17.9%)
Note: Net performance is based on both opening AUM and
inflows during the period and can be influenced by heavy
inflows and fluctuations in currencies.
For more information, please contact:
Investors/analysts:
GLG: Simon White
Chief Financial Officer
Phone: +44(0)20-7016-7000
Email: simon.white@glgpartners.com
Michael Hodes
Acting Director of Investor Relations
Phone: +1-212-224-7223
Email: michael.hodes@glgpartners.com.
Media:
Finsbury: Rupert Younger/Amanda Lee
Phone: +44(0)20-7251-3801,
Email: rupert.younger@finsbury.com /
amanda.lee@finsbury.com;
Andy Merrill
Phone: +1-212-303-7600
Email: andy.merrill@finsbury.com
2007'11.23.Fri
Abbott Named to Science Magazine's List of 'Top Employers' in the Biotech and Pharmaceutical Industry
October 24, 2007
Industry-Leading Development Opportunities, Acknowledgement
for Innovative Thinking, Help Create an Environment Where
Scientists Thrive and Science is Recognized
ABBOTT PARK, Ill., Oct. 24 /Xinhua-PRNewswire/ -- For
the fifth consecutive year, Abbott (NYSE: ABT) has been
named among the top 20 employers in the Science magazine
2007 Top Biotech and Pharma Employer's survey.
Science is at the center of Abbott's broad base of
businesses. To enhance the experience for researchers,
Abbott offers an array of development opportunities in the
areas of leadership and business skills, as well as
collaborations with academia to help them be successful in
the industry environment. Recently Abbott also was named
one of the "Best Places to Launch a Career" (
http://www.abbott.com/global/url/pressRelease/en_US/60.5:5/Press_Release_0522.htm
) by BusinessWeek magazine.
"Helping our scientists reach their full potential
is critical to Abbott's continued success and to finding new
and better treatment options for patients, so it's important
that we foster an environment where our scientists and their
innovative solutions can flourish," said Miles D.
White, chairman and chief executive officer, Abbott.
"In addition to again being honored for the kind of
workplace we have created by Science magazine, the
breakthrough work at Abbott has recently been recognized by
Prix Galien USA, the Wall Street Journal Technology Awards
and the Chicago Innovation Awards."
The Science magazine rankings are determined from a
study conducted by an independent research firm
commissioned by the journal, and appeared in a special
business supplement of the Oct. 12 issue. Survey
respondents were asked to rate companies based on 23
characteristics, including financial strength, easy
adaptation to change and a research-driven environment.
The 2007 survey sought to identify the companies with
the best reputations as employers, based on 3,157 survey
responses from readers of Science and other selected
respondents. Twenty-nine percent of the respondents came
from outside the United States, primarily Western Europe,
and 92 percent worked in private industry.
Survey responses were analyzed by Senn-Delaney Culture
Diagnostics & Measurement, which used a mathematical
process to assign a unique score to rate the companies'
employer reputation, taking into account 23 different
attributes including: Corporate Image, Leadership and
Direction, Financial Prowess, Work Culture/Environment,
Work/Life Balance, Academics and Collegial Exchange, and
Compensation and Benefits.
Industry-Leading Development Opportunities
A number of unique development programs have been
established for Abbott's scientists at all levels of the
organization to help nurture and grow their skills in order
to help them achieve success within the company. Leadership
Development for Scientists, a program specifically designed
to provide enhanced skills for high-potential scientists
and physicians, helps develop leadership traits and
business skills that are not usually included in a
scientist's normal curriculum. Abbott also offers a
Physician Development Program, which is designed to provide
M.D.s who have never worked in industry with an overview of
the drug development process. In addition, Abbott
collaborates with top colleges and universities to develop
curricula that will help scientists obtain a business
background to work in industry. Through these proactive
collaborations, Abbott helps ensure that the candidates it
considers will have the appropriate backgrounds to achieve
success in their positions.
Rewarding and Recognizing Innovative Ideas and
Achievements
In addition to external honors, Abbott scientists are
eligible for unique internal recognition. Induction into
the prestigious Volwiler Society represents the highest
honor an Abbott scientist can receive. Employees also are
eligible for President's Awards, patent/inventor awards and
several others.
About Abbott
In addition to the recognition in Science magazine,
Abbott has been named among the country's best employers
for scientists by The Scientist magazine. The company was
recently named one of the "Best Places to Launch a
Career" by BusinessWeek magazine and Working Mother
magazine's "Top 100 Best Companies for Working
Mothers" list. Abbott also has been included on
DiversityInc magazine's list of the "Top 50 Companies
for Diversity" for many years.
Abbott is a global, broad-based health care company
devoted to the discovery, development, manufacture and
marketing of pharmaceuticals and medical products,
including nutritionals, devices and diagnostics. The
company employs 65,000 people and markets its products in
more than 130 countries.
Abbott's news releases and other information are
available on the company's Web site at
http://www.abbott.com .
For more information, please contact:
Laura Weber
Abbott
Tel: +1-847-936-3708
2007'11.23.Fri
Siemens Medical Solutions Diagnostics Announces iMac OSX Operating System Support for the TRUGENE HIV-1 Genotyping Kit and OpenGene DNA Sequencing System
October 24, 2007
Delivering Enhanced Computational Capabilities for the
Interrogation of HIV-1
TARRYTOWN, N.Y., Oct. 24 /Xinhua-PRNewswire/ -- Siemens
Medical Solutions Diagnostics (
http://www.siemens.com/diagnostics ) today announced that
the TRUGENE(R) HIV-1 Genotyping Kit and OpenGene DNA
Sequencing System are now supported by the Apple iMac OSX
operating system. The TRUGENE iMac OSX-based system
provides an integrated computational system that delivers
enhanced data management, simplified system configuration
and networking support as well as increased flexibility and
throughput for laboratories that provide genotype and gene
sequence information. The system is available in Europe,
Asia-Pacific, Canada, South America and Latin America as a
CE marked product.
( Photo:
http://www.newscom.com/cgi-bin/prnh/20071024/NYW008 )
( Logo:
http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO )
"The TRUGENE iMac OSX-based system enables
laboratories to increase throughput and flexibility during
the interrogation and monitoring of HIV-1," said David
Okrongly, senior vice president and head of Molecular
Diagnostics, Siemens Medical Solutions Diagnostics.
"Siemens is committed to delivering proven and
clinically validated sequencing solutions for our molecular
diagnostics customers that enables physicians to personalize
patient therapy."
The product is an integrated solution consisting of
hardware, software and chemistry for the identification of
clinically relevant resistance mutations in HIV which is
now enhanced by the iMac OSX-based system. Users will
experience improved efficiency with the new OpenGene 4.0
software as well as better data management and simplified
networking capabilities.
With the TRUGENE iMac OSX-based system, laboratorians
will achieve enhanced flexibility, increased data storage
options, ability to customize reporting formats, expanded
print options and faster sequencing capabilities. One
OSX-based system enables laboratories to run up to eight
long-read towers (automated DNA sequencers).
The new OpenGene 4.0 software provides users with
ease-of-use including integrated help functions, intuitive
menu-driven operations and a user-friendly interface which
facilitates a rapid transition with minimal re-training.
Software capabilities include: fully automated data
analysis via bi-directional sequence confirmation,
detection of primary and secondary mutations,
insertions/deletions and comparison of sequences to a
database with known mutations. Users can also integrate
archived information from the current OpenStep systems.
About Siemens Medical Solutions Diagnostics
Siemens Medical Solutions Diagnostics offers a broad
portfolio of performance-driven diagnostic solutions that
assist in the diagnosis, monitoring and management of
disease. The company's products and services bring together
the right balance of science, technology, and practicality
across the healthcare continuum to empower medical
professionals with the vital information they need to
deliver better, more personalized healthcare to patients
around the globe. Visit http://www.siemens.com/diagnostics
.
About Siemens Medical Solutions
Siemens Medical Solutions of Siemens AG (NYSE: SI) is
one of the world's largest suppliers to the healthcare
industry. The company is known for bringing together
innovative medical technologies, healthcare information
systems, management consulting, and support services, to
help customers achieve tangible, sustainable, clinical and
financial outcomes. Recent acquisitions in the area of
in-vitro diagnostics - such as Diagnostic Products
Corporation and Bayer Diagnostics - mark a significant
milestone for Siemens as it becomes the first full service
diagnostics company. Employing more than 41,000 people
worldwide and operating in over 130 countries, Siemens
Medical Solutions reported sales of 8.23 billion EUR,
orders of 9.33 billion EUR and group profit of 1.06 billion
EUR for fiscal 2006 (Sept. 30). Further information can be
found by visiting
http://www.usa.siemens.com/medical-pressroom .
For more information, please contact:
Amanda Naiman,
Siemens Medical Solutions
Tel: +1-610-448-4531
Email: amanda.naiman@siemens.com
2007'11.23.Fri
AXA Winterthur Quadruples Project Workload and Delivers Seven-Figure Savings Using TIBCO BPM Software
October 24, 2007
Secures Cost and Quality Leadership, Improves Customer
Service and Lowers Administration Costs
MUNICH, Germany, Oct. 24 /Xinhua-PRNewswire/ -- TIBCO
Software Inc. (Nasdaq: TIBX) today announced that AXA
Winterthur Schweiz, a leading Swiss insurance company, has
fully standardized its processes across its GroupLife
division on TIBCO iProcess(TM) Suite. This business-process
management (BPM) standardization project, dubbed the
Electronic Document Archiving and Retrieval System
(eDarts), has increased the efficiency and quality of
processes considerably. AXA Winterthur employees now manage
up to 60,000 transactions -- quadrupling the project
workload.
Max Meili, head of customer applications at AXA
Winterthur, said: "For us, BPM is not merely a
process-supporting system, but also an integration tool. We
link all systems to BPM so that the user has an integrated
interface and doesn't have to move from primary system to
primary system, adapting each time. In addition, the BPM
solution from TIBCO has made a huge leap forward in the
last two years. By way of example, the processes are more
dynamic, the prediction and analysis functionality are
improved, and the graphic modeling options are based on
BPMN."
Today, all 1,300 employees in the company's Vested
Benefit division work on the eDarts platform, which gives
them one precisely-defined way to process a particular
case. Separate procedures for specific cases or for
individual sectors are no longer possible. This enables a
maximum degree of standardization and consequently better
process efficiency and service quality, as well as the
shortest possible response times. AXA Winterthur now has an
overview of all open business transactions at all times, and
is therefore in a position to offer enhanced and more
professional customer service.
The TIBCO solution has brought considerable benefits
for the insurer, with seven-figure administrative savings
leading to a positive return on investment in just over
one-and-a-half years. As planned, AXA Winterthur became the
cost and quality leader in this area. In addition, the
eDarts platform is increasingly being used by users in the
other AXA Winterthur divisions. Two initiatives are
currently underway, designed to map new processes to the
platform or adapt existing ones to the division's specific
needs.
"AXA Winterthur is an excellent example of what
companies can achieve through the consistent application of
the BPM concept and its practical realization using TIBCO
solutions," explained Fabio Pulidori, senior vice
president, TIBCO. "Optimum interplay of integrated
systems, automated process steps, human interaction,
documents and information result in maximum process
efficiency. It is this interplay that breaks the mould of
traditional BPM. At TIBCO, we have a name for it:
BPM+."
The AXA Winterthur eDarts project was the winner of the
TIBCO "Value Creator of the Year 2007" award at
the TIBCO Software international customer conference in San
Francisco at the start of May. The AXA Winterthur project,
which is based on the BPM solution from TIBCO, was selected
as the winner in the Business Process Management category by
a panel of independent experts in the sector such as Michael
Friedenberg, President and CEO of CIO Magazine, Scott
Vaughan, Editor of CMP Media, and Ken Vollmer, Principal
Analyst at Forrester Research. The panel was particularly
impressed by the technological approach, the continuity of
the project, the resulting quality and efficiency, and the
experience accumulated over many years by the project
team.
About AXA Winterthur
AXA Winterthur Schweiz is part of the AXA Group and is
the leading all-lines insurer in the Swiss market, with a
market share of around 20 percent. AXA Winterthur Schweiz
offers a broad range of personal, property, and liability
insurance solutions as well as tailor-made life insurance
and retirement income insurance solutions for private and
business customers. AXA Winterthur Schweiz has around 5,800
employees, and with 49 general agencies and 221 agencies,
has the densest distribution network of any insurance
company in Switzerland. In 2005, AXA Winterthur Schweiz
realized a transaction volume of CHF 10.4 billion, and as
at December 31, 2005 administered assets worth CHF 61
billion.
About TIBCO Software
TIBCO Software Inc. (Nasdaq: TIBX) provides enterprise
software that helps companies achieve service-oriented
architecture (SOA) and business process management (BPM)
success. With over 3,000 customers, TIBCO has given leading
organisations around the world better awareness and
agility-what TIBCO calls The Power of Now(R). To learn
more, contact TIBCO at +1 650-846-1000 or on the Web at
http://www.tibco.com.
TIBCO, The Power of Now, TIBCO iProcess Suite, and
TIBCO Software are trademarks or registered trademarks of
TIBCO Software Inc. in the United States and/or other
countries. All other product and company names and marks
mentioned in this document are the property of their
respective owners and are mentioned for identification
purposes only.
For more information, please contact:
Marcus Ehrenwirth
phronesis PR GmbH (for TIBCO Software Inc.)
Tel: +49-821-444-800
Fax: +49-821-444-80-22
Email: info@phronesis.de
Declan Waters
Media TIBCO Software
Tel: 01628-786-844
Email: dwaters@tibco.com
Web: http://www.tibco.com
Nick Spencer
NSPR (for TIBCO Software Inc.)
Tel: 01628-502-606
Email: nick@nspr.co.uk
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