2007'12.05.Wed
Qualifiers Now Online for PartyPoker.com Irish Poker Championship
November 09, 2007
Mike Sexton and Elusive 1999 World Series Champion Noel
Furlong Added to
Line-Up
GIBRALTAR, Nov. 9 /Xinhua-PRNewswire/ -- Exclusive
online qualification for the PartyPoker.com Irish Poker
Championship 2008 is underway! The tournament will be held
at the fabulous Radisson Hotel & Spa, Galway, Ireland,
from Jan 3 to Jan 6, 2008. The PokerEvents.ie organized
event is the first major sponsorship in Ireland by
PartyPoker.com and is Europe's first major tournament of
2008.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20071109/281095 )
The main online $270 satellite is every Tuesday but
lower buy-in tournaments where entry into the main
satellite can be won are available every day of the week on
PartyPoker.com. For every 25 players in the main satellite,
PartyPoker.com will provide one seat. Qualification for
the $5,000 package starts at $3.
The (euro) 2,000 (9 percent withheld) buy-in is
expected to attract 400 players from across Ireland, the
UK, Europe and the United States and will be recorded for
six hour-long broadcasts on RTE, Ireland's national
broadcaster and distributed internationally. Amongst those
who have indicated that they will attend are 'Ambassador of
Poker' Mike Sexton, WSOP bracelet winners Ciaran O'Leary and
Michael Keiner, Padraig Parkinson, Scott Gray, Bruno
Fitoussi, Rehne Pederson and Jan Sorensen. 1999 World
Series of Poker Main Event winner Noel Furlong has also
been coaxed out of retirement to take part!
A spokesman for the event sponsors, PartyPoker.com,
said: "We are delighted that the tournament organizers
have secured Noel Furlong's participation. Imagine winning
the WSOP Main Event, vanishing into thin air and retiring
from the game, exactly what Noel did! We expect him to run
well in the tournament as getting a read on him is likely
to be very hard. There will be very little television
coverage that gives pointers to how he plays."
Over 500 qualifying satellites are also being held in
pubs and clubs across Ireland.
The schedule for the event is:
Thursday 3rd January 2008
-- Super Satellite - (euro) 200 + (euro) 20
Friday 4th January 2008
-- Main Event Day 1 - (euro) 2,000 (9 percent withheld)
No Limit Hold'em
Freezeout
Saturday 5th January 2008
-- Main Event Day 2 - (euro) 2,000
-- Supporting Event - (euro) 800 + (euro) 80 No Limit
Hold'em Freezeout
Sunday 6th January 2008
-- Main Event Day 3 - (euro) 2,000
-- Supporting Event - (euro) 400 + (euro) 40 No Limit
Hold'em Freezeout
For more details on qualifiers see:
http://www.partypoker.com/news/items/irish_poker.html
For more information, please contact:
Brendan Murray
Tel: +00353-86-305-7469
Email: brendan.murray@pokermediaconsulting.com
Warren Lush
PartyGaming Plc
Tel: +35078700
Email: warrenl@partygaming.com
PR
2007'12.05.Wed
TI Delivers Industry's First Sub-1 GHz RF System-on-Chip with Integrated USB Controller for Wireless Sensor Networks
November 09, 2007
Combination of Radio, MCU, Flash and USB Reduces Size,
Eases Assembly and Lowers System Cost
DALLAS, Nov. 9 /Xinhua-PRNewswire/ -- Texas Instruments
Incorporated (TI) (NYSE: TXN) today introduced the
industry's first sub-1 GHz radio-frequency (RF)
system-on-chip (SoC) with an integrated USB controller,
enabling a fast and easy bridge between PCs and RF. The
CC1111 combines the excellent performance of TI's
state-of-the-art RF transceiver (CC1101) with an enhanced
8051 microcontroller (MCU), 8/16/32 kB of in-system
programmable flash memory and a full-speed USB controller
for improved low-power wireless sensor networking. (See
http://www.ti.com/cc1111-pr .)
(Logo:
http://www.xprn.com/xprn/sa/20061107170439-20-min.jpg )
"The breakthrough integration of the CC1111,
combined with our SimpliciTI(TM) network protocol, allows
customers to develop state-of-the-art wireless sensor
networks with smaller PCB size, lower overall system cost
and faster time-to-market" said Art George, senior
vice president of TI's high-performance analog business.
"By delivering innovative low-power RF technology,
support and software, TI gives customers complete RF
solutions to achieve next-generation performance in both
sub-1 GHz and 2.4 GHz frequency ranges."
The CC1111 targets a wide variety of low-power wireless
applications including alarm and security systems, automatic
meter reading, industrial monitoring and control, home and
building automation and remote controls. The CC1111 is pin-
and register-compatible with the CC1110 (sub-1 GHz SoC),
CC2511 (2.4 GHz SoC with USB) and CC2510 (2.4 GHz SoC).
Additional features include embedded 128-bit AES
security coprocessor, excellent receiver selectivity and
blocking performance, high sensitivity, programmable data
rate of up to 500 kBaud, wide supply voltage range (2.0 V
to 3.6 V) and four flexible power modes for reduced power
consumption.
SimpliciTI network protocol is a proprietary low-power
RF protocol targeting simple, small RF networks (less than
256 nodes). This protocol requires minimal MCU resources
and was designed for easy implementation on the CC1110/11
and CC2510/11 SoCs or MSP430 ultra-low-power MCUs combined
with CC1100 and CC2500 transceivers. SimpliciTI network
protocol is provided as source code under a free license,
without royalties, and can be downloaded at
http://www.ti.com/simpliciti .
Availability and Packaging
The CC1111 is available now from TI and its authorized
distributors in a 6-mm x 6-mm QFN-36 package. Suggested
resale pricing for the CC1111 starts at $4.65 in
1,000-piece quantities. Start your development today with a
comprehensive development kit (CC1110-CC1111DK).
Low-Power RF Developer Network
TI's Low-Power RF Developer Network enables customers
to find a suitable partner to assist with hardware design,
modules, embedded software, gateways, commissioning tools,
etc. The Low-Power RF Developer Network consists of
recommended companies, RF consultants and independent
design houses that provide a series of hardware module
products and design services (
http://www.ti.com/lprfnetwork ).
About Texas Instruments
Texas Instruments Incorporated provides innovative DSP
and analog technologies to meet our customers' real world
signal processing requirements. In addition to
Semiconductor, the company includes the Education
Technology business. TI is headquartered in Dallas, Texas,
and has manufacturing, design or sales operations in more
than 25 countries.
Texas Instruments is traded on the New York Stock
Exchange under the symbol TXN. More information is located
on the World Wide Web at http://www.ti.com .
Please refer all reader inquiries to: Texas Instruments
Incorporated
Semiconductor Group, SC-07171
Literature Response Center
14950 FAA Blvd.
Fort Worth, TX 76155
1-800-477-8924
Trademarks
SimpliciTI is a trademark of Texas Instruments. All
other trademarks belong to their respective owners.
For more information, please contact:
Brett Schroer
Texas Instruments
Tel: +1-520-746-7984
Email: schroer_brett@ti.com
Jacqi Moore
GolinHarris
Tel: +1-972-341-2514
Email: jmoore@golinharris.com
2007'12.05.Wed
The Lilly MDR-TB Partnership Provides Unique Model for Fight Against Multidrug-Resistant Tuberculosis in South Africa
November 09, 2007
Technology Transfer Creates Sustainable Solution to Treat
One of the World's Oldest and Deadliest Diseases
CAPE TOWN, South Africa, Nov. 9 /Xinhua-PRNewswire/ --
During the annual meeting of the International Union
Against Tuberculosis and Lung Disease (IUATLD), The Lilly
MDR-TB Partnership brought together experts to highlight
the battle against multidrug-resistant tuberculosis
(MDR-TB) in South Africa as a model for the work being done
by The Partnership around the world. South Africa is one of
the highest-burden MDR-TB countries.
The Lilly MDR-TB Partnership -- a public-private
initiative of 14 organizations focused on stopping the
spread of MDR-TB and ultimately conquering the disease --
is transferring manufacturing know-how to technology
partners around the world. The technology transfer partner
in South Africa, Aspen Pharmacare, sold its first batch of
cycloserine to Botswana in 2006 and is now producing
cycloserine in a brand new facility in Port Elizabeth,
South Africa, that has a capacity in excess of 4 billion
tablets and capsules per year. Cycloserine is a Lilly
antibiotic that is instrumental in the treatment of
second-line tuberculosis, or MDR-TB.
Aspen has also now begun construction of a facility at
the Port Elizabeth site to produce vials of capreomycin,
another critical medicine in the fight against second-line
tuberculosis, and is expected to produce this medicine at
the facility in early 2009. Capreomycin was developed by
Eli Lilly and Company several years ago.
"The ability to manufacture cycloserine locally is
essential to treating the plight of multidrug resistance in
South Africa," said Mr. Stavros Nicolaou, Executive
Director of Aspen Pharmacare. "This initiative allows
us to directly address this highly contagious disease,
which has a tremendous impact on the health of our country
and the entire African continent."
Aspen Pharmacare works closely with the World Health
Organization (WHO) to supply medicine to countries approved
by the WHO Green Light Committee (GLC). The GLC helps
countries gain access to high-quality, second-line anti-TB
medicines so they can provide treatment for people with
MDR-TB in line with WHO guidelines.
In addition to the transfer of technology, The Lilly
MDR-TB Partnership enhances access to medicines, trains
doctors and nurses, raises awareness, promotes prevention,
supports communities, advocates on behalf of patients and
conducts early-stage drug discovery.
"The Lilly Partnership initiatives all have one
thing in common -- improved care for some of the world's
most vulnerable people," said Dr. Patrizia Carlevaro,
Head of the International Aid Unit for Eli Lilly and
Company. "Through initiatives that create immediate,
yet sustainable solutions, our shared goal is to contain
and someday conquer this deadly disease."
Lilly will host a Satellite Symposium, "The Lilly
MDR-TB Partnership: Coming Together to Fight TB
Resistance," at the IUATLD meeting. The Symposium is
focused on sharing best practices and insights about this
public-private initiative, which is now in its fifth year.
The IUATLD, composed of 127 member countries, has provided
technical assistance, education and research promoting lung
health in low- and middle-income countries for nearly a
century.
The Lilly MDR-TB Partnership business model, including
its unique transfer of technology, is making such an impact
that it is now being taught as part of public policy course
work at INSEAD in Paris, France, and soon will be taught at
Harvard and Columbia Universities in the U.S.
About the Lilly MDR-TB Partnership
The Lilly MDR-TB Partnership was created to confront
multidrug-resistant tuberculosis, a disease so daunting
that no single organization can fight it alone. Since 2003,
this public-private initiative, mobilizing 14 partners on
five continents, has worked together to share expertise in
the quest to contain and conquer one of the world's oldest
diseases. The Partnership's multi-pronged approach
includes: community support and patient advocacy;
treatment, training and surveillance; transferring
technology; research; and awareness and prevention.
Additional information about The Lilly MDR-TB Partnership
is available at http://www.lillymdr-tb.com.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20031219/LLYLOGO )
(Logo:
http://www.newscom.com/cgi-bin/prnh/20071109/CLF001LOGO )
For more information, please contact:
Christine Van Marter
Eli Lilly and Company
Tel: +1-317-554-7923
2007'12.05.Wed
METRO Group and Checkpoint Systems Expand RFID 'Tag It Easy!' Program
November 09, 2007
HONG KONG, Nov. 9 /Xinhua-PRNewswire/ -- Checkpoint
Systems, Inc. (NYSE: CKP), a leading supplier of technology
solutions for retail security, today announced its
participation in the upcoming expansion of METRO Group's
"Tag It Easy!" pilot program. The second phase of
the pilot will enable additional 70 consumer goods suppliers
in China and Vietnam to apply RFID labels on shipments to
METRO Group's facilities in Germany. The company held a
kick-off event for suppliers today in Hong Kong.
(Logo: http://www.xprn.com/xprn/sa/200701241626.jpg )
"Tag It Easy!" is part of METRO Group's
Advanced Logistics Asia (ALA) initiative to jointly enhance
logistics processes with its Asian suppliers using Radio
Frequency Identification (RFID) to track merchandise
throughout the supply chain. Because many suppliers in the
region have limited technology capabilities, METRO Group
developed the "Tag It Easy!" pilot to assist them
with utilizing RFID within their operations. Through its
partnership with Checkpoint Systems, METRO Group is able to
provide pre-printed RFID labels to suppliers in the region
so that they can initiate the tracking process with only a
minimal technology investment.
"Our Tag It Easy! RFID solution is a breakthrough,
showing how integrated RFID solutions benefit both suppliers
and retailer" says Dr. Gerd Wolfram, Managing Director
of MGI METRO Group Information Technology.
For the pilot, METRO Group selected established
suppliers that had worked closely with the company in the
past. Suppliers were chosen based on their geographic
location and the type of products they manufactured, in
order to ensure a diverse product mix.
The RFID labels provided by Checkpoint store the Serial
Shipping Container Code (SSCC), which is read at several
points along the supply chain between Hong Kong and Unna,
Germany. METRO Group receives an electronic advance
shipping notice detailing the contents of each shipment,
and the suppliers receive automatic proof-of-delivery
notifications. Suppliers order the RFID labels through the
company's global supplier portal Metro Link.
By using RFID to provide real-time visibility, METRO
Group is able to eliminate manual counting and checking of
export packages. With a more efficient supply chain, the
company can reduce out-of-stock situations at the retail
store, which improves the customer shopping experience.
Suppliers benefit through enhanced proof-of-delivery
information and more accurate shipping data, and are also
able to position themselves as reliable business partners
in the highly competitive consumer goods market.
METRO Group has standardized on UHF EPC Gen 2 tags for
this project, and so far has reported read rates well
meeting METRO Group's expectation in the early stages of
the pilot.
The first phase of the project, which was launched in
May, included 30 Chinese suppliers. Phase 2 will be
launched in early November, with the first tagged shipments
expected in December. METRO Group will conduct a three-month
evaluation to explore other opportunities for improvement.
"METRO Group continues to be a leader in the
adoption of RFID technology in the supply chain," said
George Off, CEO and chairman of the board of Checkpoint
Systems. "The success of the `Tag It Easy!' program,
and this current expansion, are a testament both to METRO
Group's commitment to the technology, and to the
effectiveness of RFID for enhancing supply chain visibility
and improving customer service. We look forward to
partnering with METRO Group as their RFID initiatives
continue to evolve to other areas of their supply
chain."
About The METRO Group
METRO Group is one of the most important international
retailing companies. In 2006 the group reached sales of
about ? 60 billion. The company has a headcount of some
270,000 employees and operates about 2,400 outlets in 30
countries. The operating business is performed by the sales
brands which operate independently in the market:
Metro/Makro Cash & Carry -- world market leader in cash
& carry wholesale, Real hypermarkets and Extra
supermarkets, Media Markt and Saturn -- market leader in
consumer electronics centers in Europe, and Galeria Kaufhof
department stores. More information at:
http://www.metrogroup.de .
About Checkpoint Systems Inc.
Checkpoint Systems, Inc. is the leading supplier of
retail shrink management solutions. Checkpoint's global
team helps retailers -- and their suppliers -- reduce
theft, increase inventory visibility and provide consumers
with greater merchandise availability through the company's
rapidly evolving RF technology, expanding shrink management
offerings and Check-Net labeling solutions. Checkpoint has
more than one million RF devices installed in stores today
and has secured more than 100 billion products. Scaling
cost efficiently, Checkpoint's solutions provide increased
revenues and profits to a fast-growing community of
successful retailers and a superior experience for their
consumers. Listed on the NYSE (NYSE: CKP), Checkpoint
operates in every geographic market and employs 3,200
people worldwide. For more information, visit
http://www.checkpointasiapac.com .
For more information, please contact:
Checkpoint Systems, Inc.
Asia Pacific
Natalie Chan
Tel: +852-2995-8350
Email: natalie.chan@checkpt.com
Web: http://www.checkpointasiapac.com
2007'12.05.Wed
World Energy Congress Rome: Germany on Fast Track to Becoming Global Leader in Renewable Energies
November 09, 2007
ROME, Nov. 9 /Xinhua-PRNewswire/ -- The World Energy
Congress brings together figures in the energy industry,
including producing and consuming countries, international
organizations, and industry representatives. Germany's
inward investment promotion agency, Invest in Germany, will
be there to underscore the country's ongoing support for
investment in the renewable energies sector. The congress
begins Sunday, November 11th.
Germany is one of the world's leading players in
renewable energies. It is the largest market in
photovoltaics (PV), wind energy, and biodiesel and hopes to
be the number one country in renewable energies by 2020.
Recent data show that Germany is on the right track to
meet this goal: In 2006, the renewable energies industry
booked sales of nearly EUR23 billion, earned over EUR6
billion in exports, and accumulated investments of over
EUR9 billion.
Germany shows that a combination of industrial
innovation and smart policy decisions can reconcile the
needs of the environment with those of the economy. The
Renewable Energies Act of 2000 has helped turn Germany into
a home for many leading renewable energy companies. The
law's "feed-in tariff" requires utility companies
to purchase power generated from renewable sources at a set
price, above the market price, over a 20 year period.
Further legislative development is encouraging new
investments. For example, General Electric (GE) recently
announced that it plans to expand its operations in
Germany. One reason for this decision is the German
government's initiative for Combined Heat and Power (CHP).
CHP refers to the principle of using a heat engine to
generate both electricity and useful heat, lowering energy
costs for end-users as well as improving energy efficiency.
The German government recently announced that it was
implementing legislation aimed at doubling the share of CHP
in electricity generation to 25% by 2020. The corresponding
availability of investment grants and subsidies shows that
the German government's support for renewables is keeping
up with advances in the field.
Media Contact:
Eva Henkel
Invest in Germany
Phone: +49-30-200099-173
Fax: +49-30-200099-111
Email: henkel@invest-in-germany.com
http://www.invest-in-germany.com
2007'12.05.Wed
Bloomberg TV Focuses on a Changing Indonesia - This Coming Week
November 09, 2007
Bloomberg Jakarta Bureau Reports on the Country's Economic
Future During "Indonesia Focus Week"
NEW YORK, and HONG KONG, Nov. 9 /Xinhua-PRNewswire/ --
Ten years ago, Indonesia was pounded by the Asian
financial crisis. A decade later, the Indonesian stock
market is among the best performers in the world, the
economy is growing and a democratic government is in place.
What does this mean for investors and businesses?
Starting Monday, BLOOMBERG TELEVISION(R) viewers across
Asia will get an in-depth look at the state of the economy
and prospects for investors and foreign businesses during
Bloomberg Television's "Indonesia Focus Week." A
special series of reports and exclusive interviews from
Jakarta will examine the changing role of Islam in the
nation's politics, the challenge of Indonesia's energy
future as the only Asian member of OPEC and market and
financial conditions in Southeast Asia's largest economy.
The BLOOMBERG TELEVISION series will feature interviews
with Indonesia's Trade Minister Mari Pangestu and Energy
Minister Purnomo Yusgiantoro, as well as Hilmi Panigoro,
President of Indonesia's largest listed oil company, PT
Medco Energi Internasional; Garibaldi Boy Thohir, President
of PT Adaro Indonesia, the operator of Indonesia's largest
coal mine; and Joachim von Ambsberg, Country Director of
the World Bank.
"Indonesia Focus Week" will air Monday,
November 12th through Friday, November 16th. Segments will
air on the BLOOMBERG TELEVISION programs Bloomberg Live,
Bloomberg Now, Bloomberg Today and Asia Business Tonight.
This exclusive content and follow up reports are
available to the public on the BLOOMBERG TELEVISION
network, 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 exclusively 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
Phone: +1-212-617-5375
Email: htan14@bloomberg.net
2007'12.05.Wed
AerCap Holdings N.V. Reports Third Quarter 2007 Financial Results
November 08, 2007
AMSTERDAM, Netherlands, Nov. 8 /Xinhua-PRNewswire/ --
AerCap Holdings N.V. (the "Company" or
"AerCap") (NYSE: AER) today announces the results
of its operations for the third quarter ended September 30,
2007.
Third Quarter Highlights
-- Third quarter 2007 net income was $48.6 million,
compared with $46.7
million for the same period in 2006. Third quarter
2007 net income
excluding non-cash charges relating to the
mark-to-market of our
interest rate caps and share-based compensation was
$58.1 million.
-- Third quarter 2007 basic and diluted earnings per
share were $0.57.
Third quarter 2007 basic and diluted earnings per
share excluding non-
cash charges relating to the mark-to-market of our
interest rate caps
and share-based compensation were $0.68.
-- Total revenue for the third quarter 2007 was $335.9
million, up 12% vs.
third quarter 2006.
-- Lease revenue for the third quarter 2007 was $136.7
million, up 23% vs.
third quarter 2006.
-- Sales revenue for the third quarter 2007 was $187.1
million, up 14% vs.
third quarter 2006 and was generated from the sale
of seven aircraft,
four engines and the sale of parts inventory.
-- Total assets were $4.3 billion at September 30,
2007, a 20% increase
over total assets of $3.5 billion at September 30,
2006.
-- Committed purchases of aviation assets delivered or
scheduled for
delivery in 2007 are $854.2 million thus far, of
which $518.7 million
closed in the first nine months of 2007.
-- A funding facility of $182 million was closed for
pre-delivery payments
relating to eight new A330s under a forward order
with Airbus
Significant events previously disclosed
-- On August 6, 2007, AerCap completed a secondary
offering of 20 million
shares, increasing the percentage of shares held by
public investors
from 31% to 54%.
-- AerCap signed six new lease agreements and executed
22 letters of
intent including 16 letters of intent for new
aircraft with average
lease terms of 108 months. In addition, on October
10, 2007, we signed
lease agreements for six new A320s for a period of
120 months with
Aeroflot - a new customer.
Klaus Heinemann, CEO of AerCap, commented, "Our
growth program has progressed well with 29 aircraft and 11
engine acquisitions since December 2006. The continued
strength of the aviation lease market in combination with
our strong marketing capability allows AerCap to lock in
attractive lease terms for long periods. This is reflected
in the average lease term of 108 months that we achieved in
letters of intent executed for new aircraft in the third
quarter 2007. We are also very pleased to have won the
Russian national carrier, Aeroflot as a new customer, with
a transaction involving six new Airbus 320 aircraft with a
120-month lease period."
AerCap's CFO, Keith Helming, added, "We are
delighted to report strong revenue growth for this quarter,
particularly lease revenue. AerCap is well positioned for
future growth with nearly $2 billion of committed funding
plus free cash of $272 million. Since the start of the
recent concerns in the debt markets, we were also able to
close on a $182 million funding facility with a major
institution for pre-delivery payments on our A330 forward
order. In addition, we are pursuing other opportunities
for new debt financing to allow for further growth."
Summary of Financial Results
AerCap recorded third quarter 2007 net income of $48.6
million or $0.57 per basic and diluted share. Included in
the third quarter 2007 net income amount was a net loss on
non-cash charges related to the mark-to-market of our
interest rate caps and share-based compensation of $9.5
million or $0.11 per basic and diluted share. The net loss
relating to the mark-to-market of our interest rate caps was
$6.7 million and the net loss from share-based compensation
was $2.8 million.
Detailed Financial Data
($ in Millions)
Operating results
Three months ended Nine
months ended
September 30,
September 30,
%increase/
%increase/
2007 2006 (decrease) 2007
2006 (decrease)
Revenue ..... $335.9 $300.4* 12% $892.0
$602.8 48%
Net income .. 48.6 46.7* 4% 143.3**
117.0 22%
* - Revenue and net income include $12.7 million and
$11.1 million,
respectively, primarily from the sale of financial
assets classified
as other revenue in the table below.
** - Includes a non-recurring charge to interest
expense from refinancing
of securitized bonds of $24.0 million, net of
tax.
Revenue breakdown
Three months ended Nine
months ended
September 30,
September 30,
%increase/
%increase/
2007 2006 (decrease) 2007
2006 (decrease)
Lease revenue:
Basic rents ... $125.2 $98.8 27% $368.3
$282.5 30%
Maintenance
rents ........ 11.2 4.5 149% 31.7
10.9 191%
End-of-lease
compensation 0.3 7.7 -96% 17.1
17.7 -3%
Lease revenue... $136.7 $111.0 23% $417.1
$311.1 34%
Sales revenue . 187.1 164.7 14% 420.3
236.7 78%
Management fees
and interest
income ........ 12.1 12.0 1% 34.9
37.0 -6%
Other revenue... - 12.7 -100% 19.7
18.0 9%
Total revenue .. $335.9 $300.4 12% $892.0
$602.8 48%
As indicated in the table above, lease revenue
increased by 23% between the third quarter 2007 and the
third quarter 2006 and 34% between the two nine-month
periods. The growth in the Company's leased assets and the
continued strength of lease rates in the current economic
environment is reflected in our revenue through the
significant increase in basic rents.
Effective tax rate
The effective tax rate during the third quarter 2007
for AerCap's aircraft business was 15.0% and was 34.2% for
the Company's engine and parts business, resulting in an
overall consolidated effective tax rate of 16.0%.
Financial position
%Increase
over
September
September September
30, 2007 30,
2006 30, 2006
Flight equipment held for lease.. $2,927.3
$2,542.1 15%
Total assets .................... 4,253.2
3,548.2 20%
Total liabilities ............... 3,313.1
2,964.4 12%
Total equity .................... 907.9
551.8 65%
As of September 30, 2007, AerCap's portfolio consisted
of 325 aircraft and 65 engines that were either owned, on
order, under contract or letter of intent, or managed.
Secondary Offering of 20 million shares (as previously
disclosed)
In the third quarter of 2007, AerCap filed a
registration statement with the U.S. Securities and
Exchange Commission for the sale of 20 million of the
Company's existing shares which were subsequently sold by
companies controlled by funds and accounts affiliated with
Cerberus in a secondary offering completed on August 6,
2007. The registration increased the percentage of the
Company's shares held by public shareholders from 31% to
54%. Proceeds from the sale of the registered shares were
received by Cerberus-affiliated companies, members of
senior management and board of directors. The Company did
not receive any of the proceeds of the offering.
Notes Regarding Financial Information Presented In This
Press Release
The financial information presented in this press
release is not audited.
The following is a definition of a non-GAAP measure
used in this press release and a reconciliation of such
measure to the most closely related GAAP measure:
Net income excluding non-cash charges relating to the
mark-to-market of our interest rate caps and share-based
compensation. This measure is determined by adding
non-cash charges related to the mark-to-market losses on
our interest rate caps and share-based compensation during
the applicable period, net of related tax benefits, to GAAP
net income. AerCap believes this measure provides investors
with a more meaningful view on AerCap's operational
performance and allows investors to better understand its
operational performance in relation to past and future
reporting periods. AerCap uses interest rate caps to
protect against the negative impact of rising interest
rates on its floating rate debt. Management determines the
appropriate level of caps in any period with reference to
the mix of floating and fixed cash inflows from the
Company's lease and other contracts. AerCap does not apply
hedge accounting to its interest rate caps. As a result,
AerCap is required to recognize the change in fair value of
the interest rate caps in AerCap's income statement during
each period. Following is a reconciliation of net income
excluding non-cash charges relating to the mark-to-market
of interest rate caps and share-based compensation to net
income for the three and nine month periods ended September
30, 2007 and 2006:
($s in Millions) Three months ended
Nine months ended
September 30,
September 30,
2007 2006
2007 2006
Net income .......... $48.6 $46.7
$143.3* $117.0
Plus: Non-cash charges
relating to the
mark-to-market of
interest rate caps,
net of tax ......... 6.7 7.5
3.2 (7.3)
Non-cash charges
related to share-
based compensation,
net of tax .... 2.8 9.3
7.0 10.5
Net income excluding
non-cash charges related
to the mark-to-market of
interest rate caps and
share-based compensation $58.1 $63.5
$153.5* $120.2
* - Includes a non-recurring charge to interest expense
from refinancing
of securitized bonds of $24.0 million, net of tax.
Earnings per share excluding non-cash charges related
to the mark-to-market of interest rate caps and share-based
compensation are determined by dividing the amount of net
income excluding such charges by the average number of
shares outstanding for that period. The average number of
shares is based on a daily average.
Conference Call
In connection with the earnings release, management
will host an earnings conference call on Thursday, November
8, 2007 at 9:30 a.m. EST. The call can be accessed live by
dialing (U.S. investors) 800-772-1085 or (International
investors) +1-706-634-5464 and referencing code 20964418 at
least 5 minutes before start time, or by visiting AerCap's
website at http://www.aercap.com under 'Investor
Relations'.
A replay of the call will be available beginning at
1:00 p.m. EST on November 8, 2007 and continuing through
Thursday, November 22, 2007. To access the recording, call
800-642-1687 (U.S. investors) or +1-706-645-9291
(International investors) and enter pass code 20964418. The
replay will be archived in the "Investor
Relations" section of the Company's website for one
year.
About AerCap Holdings N.V.
AerCap is an integrated global aviation company with a
leading market position in aircraft and engine leasing,
trading and parts sales. AerCap also provides aircraft
management services and performs aircraft and engine
maintenance, repair and overhaul services and aircraft
disassemblies through its certified repair stations. AerCap
is headquartered in The Netherlands and has offices in
Ireland, the United States, China and the United Kingdom.
Forward Looking Statements
Certain items in this press release may constitute
forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 including,
but not necessarily limited to, statements relating to
future operations. Words such as "expect(s)" and
similar expressions are intended to identify such
forward-looking statements. These statements are based on
management's current expectations and beliefs and are
subject to a number of factors that could lead to actual
results materially different from those described in the
forward-looking statements. AerCap's expectations may not
be attained. There are important factors that could cause
actual results, level of activity, performance or
achievements to differ from the results, level of activity,
performance or achievements expressed or implied in the
forward-looking statements. In light of these risks,
uncertainties and assumptions, the future performance or
events described in the forward-looking statements in this
press release may not occur. Accordingly, you should not
rely upon forward-looking statements as a prediction of
actual results and AerCap does not assume any
responsibility for the accuracy or completeness of any of
these forward-looking statements. Such forward-looking
statements speak only as of the date of this press release.
AerCap expressly disclaims any obligation to release
publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the
Company's expectations with regard thereto or change in
events, conditions or circumstances on which any statement
is based.
For more information regarding AerCap and to be added
to our email distribution list, please visit
http://www.aercap.com .
AerCap Holdings N.V.
Consolidated Balance Sheets - Unaudited
(In thousands of U.S. Dollars)
December 31, September 30,
September 30,
2006 2006
2007
(adjusted)* (adjusted)*
Assets
Cash and cash equivalents $271,997
$131,201 $215,325
Restricted cash 60,814
112,277 125,065
Trade receivables, net of
provisions 26,978
25,058 27,959
Flight equipment held for
operating leases, net 2,927,257
2,966,779 2,542,119
Flight equipment held for sale 163,962
- -
Notes receivables, net of
provisions 181,447
167,451 158,303
Prepayments on flight equipment 225,232
166,630 129,496
Investments 16,091
18,001 3,000
Goodwill 6,776
6,776 37,225
Intangibles, net 43,161
34,229 30,455
Inventory 75,861
82,811 85,475
Derivative assets 17,532
17,871 10,520
Deferred income taxes 91,897
96,521 95,837
Other assets 144,201
92,432 87,425
Total Assets $4,253,206
$3,918,037 $3,548,204
Liabilities and Shareholders' equity
Accounts payable $6,693
$6,958 $3,571
Accrued expenses and other
liabilities 76,914
92,466 73,325
Accrued maintenance liability 261,760
259,739 180,441
Lessee deposit liability 85,412
77,686 63,403
Debt 2,781,646
2,555,139 2,458,977
Accrual for onerous contracts 69,174
111,333 112,300
Deferred revenue 30,338
28,391 26,621
Deferred income taxes 1,152
3,383 45,785
Total liabilities 3,313,089
3,135,095 2,964,423
Minority interest 32,235
31,938 32,020
Share capital 699
699 646
Additional paid-in capital 605,093
591,553 384,318
Retained earnings 302,090
158,752 166,797
Total shareholders' equity 907,882
751,004 551,761
Total Liabilities and
Shareholders' equity $4,253,206
$3,918,037 $3,548,204
* Adjusted for our adoption of FSP No. AUG AIR-1
"Accounting for
Planned Major Maintenance Activities" on January
1, 2007.
AerCap Holdings N.V.
Consolidated Income Statements - Unaudited
(In thousands of U.S. Dollars, except share and per
share data)
Three months ended
Nine months ended
September 30,
September 30,
2006
2006
2007 (Adjusted*)(A)
2007 (Adjusted*)(A)
Revenues
Lease revenue $136,689 $110,974
$417,069 $311,131
Sales revenue 187,124 164,662
420,290 236,665
Interest revenue 8,272 8,730
23,722 26,656
Management fee
revenue 3,789 3,263
11,137 10,330
Other revenue - 12,738
19,744 18,014
Total Revenues 335,874 300,367
891,962 602,796
Expenses
Depreciation 35,143 21,044
106,298 72,347
Cost of goods sold 151,103 133,538
327,685 183,264
Interest on debt 58,268 51,808
177,114 111,432
Operating lease in
costs 4,652 6,298
15,512 18,925
Leasing expenses 495 (10)
14,230 11,595
Provision for
doubtful notes and
accounts receivable 233 (1,443)
355 (847)
Selling, general and
administrative
expenses 27,934 36,337
82,161 66,571
Total Expenses 277,828 247,572
723,355 463,287
Income from
continuing
operations before
income taxes and
minority interest 58,046 52,795
168,607 139,509
Provision for income
taxes (9,288) (6,167)
(24,971) (23,203)
Net income before
minority interest 48,758 46,628
143,636 116,306
Minority interest,
net of taxes (152) 37
(298) 730
Net Income $48,606 $46,665
$143,338 $117,036
Basic and diluted
earnings per share 0.57 0.60
1.69 1.50
Weighted average
shares outstanding
- basic and
diluted $85,036,957 $78,236,957
$85,036,957 $78,236,957
* - Adjusted for our adoption of FSP No. AUG AIR-1
"Accounting for
Planned Major Maintenance Activities" on January
1, 2007.
(A) - Includes the results of operations of
AeroTurbine from the date of
our acquisition - April 26, 2006.
AerCap Holdings N.V.
Consolidated Statements of Cash Flows - Unaudited
(In thousands of U.S. Dollars)
Three months ended
Nine months ended
September 30,
September 30,
2006
2006
2007 (Adjusted*)(A)
2007 (Adjusted*)(A)
Net income 48,606 46,665
143,338 117,036
Adjustments to reconcile net
income to net cash provided
by operating activities
Minority interest 152 (37)
298 (730)
Depreciation 35,143 20,859
106,298 72,347
Amortisation of debt issuance
cost 3,302 2,191
34,861 5,886
Amortisation of intangibles 2,939 1,575
7,862 8,656
Gain on elimination of fair
value guarantee - -
(10,736) -
Provision for doubtful notes
and accounts receivable 233 (545)
355 51
Capitalised interest on pre-
delivery payments (1,621) (1,109)
(4,607) (3,747)
Gain on disposal of assets (31,304) (26,731)
(74,788) (48,153)
Change in fair value of
derivative instruments 2,823 18,660
339 (187)
Deferred taxes (2,120) 6,142
10,536 22,966
Share-based compensation 3,243 13,058
8,017 14,993
Changes in assets and
liabilities
Trade receivables and notes
receivable, net (7,231) 19,665
(16,271) 36,442
Inventories 24,899 (30,824)
12,973 (32,833)
Other assets (6,084) (3,314)
(25,602) (4,354)
Accounts payable and
accrued expenses,
including
- -
accrued maintenance
liability, lessee
deposits (11,962) 4,034
(38,178) (14,789)
Deferred revenue (1,123) 675
1,946 2,708
Net cash provided by operating
activities 59,895 70,964
156,641 176,292
Purchase of flight equipment (68,273) (134,111)
(457,450) (390,437)
Proceeds from sale/disposal of
assets 147,256 158,695
332,438 218,481
Prepayments on flight
equipment (37,432) (25,080)
(106,634) (59,946)
Purchase of subsidiaries, net
of cash acquired - -
- (145,246)
Purchase of intangibles - -
(16,794) -
Movement in restricted cash 117,302 (7,645)
51,463 32,665
Net cash provided by (used in)
investing activities 158,853 (8,141)
(196,977) (344,483)
Issuance of debt 50,804 80,227
2,104,368 540,523
Repayment of debt (246,812)
(163,886)(1,880,097) (347,042)
Debt issuance costs paid (398) (1,140)
(42,417) (25,007)
Capital contributions from
minority interests - -
- 32,750
Net cash (used in) provided
by financing activities (196,406) (84,799)
181,854 201,224
-
Net increase (decrease) in
cash and cash equivalents 22,342 (21,976)
141,518 33,033
Effect of exchange rate
changes (469) (87)
(722) (1,262)
Cash and cash equivalents at
beginning of period 250,124 237,388
131,201 183,554
Cash and cash equivalents at
end of period 271,997 215,325
271,997 215,325
* - Adjusted for our adoption of FSP No. AUG AIR-1
"Accounting for
Planned Major Maintenance Activities" on January
1, 2007.
(A) - Includes the results of operations of
AeroTurbine from the date of
our acquisition - April 26, 2006.
For more information, please contact:
For Investors:
Keith Helming
Chief Financial Officer
Tel: +31-20-655-9670
Email: khelming@aercap.com
Peter Wortel
Investor Relations
Tel: +31-20-655-9658
Email: pwortel@aercap.com
For Media:
Frauke Oberdieck
Corporate Communications
Tel: +31-20-655-9616
Email: foberdieck@aercap.com
2007'12.05.Wed
Istithmar Expands International Footprint with the Opening of a New Office in The People's Republic of China
November 08, 2007
Office in Shanghai to bolster market and industry insights
for M&A transactions
DUBAI, United Arab Emirates, Nov. 8 /Xinhua-PRNewswire/
-- Istithmar, the leading private equity and alternative
investment house headquartered in Dubai, United Arab
Emirates (UAE), has bolstered its international presence
with the opening of a new office in Shanghai, The People's
Republic of China.
( Logo:
http://www.newscom.com/cgi-bin/prnh/20070805/268060 )
The formal set-up of Istithmar in China represents the
firm's first official international foray outside the UAE.
In addition to targeting untapped opportunities in one of
the world's key emerging markets, this move also signifies
a major step forward in Istithmar's growth plans, and
heralds the beginning of its expansion in prominent cities
around the globe.
Khaled Al Kamda, Vice Chairman, Istithmar, said:
"The opening of our office in Shanghai is a
significant milestone in the corporate development of
Istithmar: it underscores the strong Sino-Arab economical
and political relations between the two regions; and
demonstrates a major step forward in our international
expansion plans. Given the immense growth in China, as well
as key markets in Asia-Pacific, we are confident that a
formal presence will serve as a strategic springboard in
terms of sourcing for the best opportunities that add value
to our investment portfolio."
David Jackson, Chief Executive Officer, Istithmar,
said: "Istithmar has been experiencing phenomenal
growth since its inception. Given our track record of
striking significant investments on the international
platform with precision, we believe a permanent ground
presence in China will provide greater proximity to
opportunities and developments in a rapidly developing
Asia. This only serves to enhance and deepen our team's
insights in our core expertise in the financial, consumer
and industrial sectors. China is a true emerging market
with strong potential for growth, and we are confident that
our local presence will stand us in good stead in our quest
for premium investments across all sectors."
Prior to this formal set-up, Istithmar's earlier
engagement with China had taken the form of a strategic
acquisition of a 9.91% stake in Hans Energy Company
Limited, the largest independent operator in the terminal
and storage industry for oil and chemical products in South
China. This investment had marked a significant milestone
for Istithmar's investment strategy in China, underscoring
the firm's confidence in the Chinese market.
Istithmar's office in Shanghai will be spearheaded by
Mr. Gable Gao, Managing Director, and Ms. Jane Shao,
Managing Director. Having worked in the investment banking
arena since 1994 and 1995, Mr. Gao and Ms. Shao bring
together a plethora of expertise in this sector. Mr. Gao
joined Istithmar in 2006 and had previously worked for
Dexia Credit Local, WestLB and Chase Securities Inc. in New
York. Ms. Shao also joined Istithmar in 2006 and had
previously worked for Chase Securities, CSFB and JP Morgan
in New York, Hong Kong and Beijing.
About Istithmar:
Istithmar is a private equity and alternative
investment house headquartered in Dubai, the United Arab
Emirates, with an office in Shanghai. Established in 2003,
it is 100% owned by Dubai World which in turn is wholly
owned by the Government of Dubai. In the three years since
its inception, Istithmar has invested in over 35 companies
in three sectors -- consumer, industrial and financial
services -- deploying in excess of $3 billion of capital.
Istithmar's 'I' Investment Philosophy is based around three
core principles -- Ideas, Inquiry and Integrity -- and is
the foundation on which the firm has established a broad
portfolio of highly successful investments in the markets
from North America and Europe to Asia and the Middle East.
http://www.istithmar.ae
For further information, please contact:
Hwee-Suan Ong or Mohamed Tahboub
BPG Public Relations,
Tel: +97-150-786-2997
Fax: +97-14-295-1027
Email: Hweesuan@batespangulf.com
mohamed@batespangulf.com
2007'12.05.Wed
Mastercard Commits to Grassroots Football Ahead of Olympics
November 08, 2007
BEIJING, Nov. 8 /Xinhua-PRNewswire/ -- MasterCard
Worldwide has today announced its further commitment to
grassroots sports in China with the extension of its
sponsorship agreement with China ClubFootball, China's
first independent grassroots football network.
Willie Fung, executive vice president and general
manager, Greater China and Korea, MasterCard Worldwide
said, "Football has been one of the most supported
sports in China ever since it was introduced in the 1900s.
The game has developed over the years, with millions
captivated by the historic World Cup qualification for the
men's national team in 2002. Football is a great grassroots
sport which helps bring people of different ages together
and breaks down barriers in many communities. We recognize
ClubFootball's dedication to the development of
community-based sports in China and are proud to be working
with them to further encourage football locally."
The announcement marks the third year of co-operation
between MasterCard Worldwide and ClubFootball and will
focus on further swelling the ranks of amateur men, women
and juniors participating in well established leagues and
coaching courses. It also marks the formal launch of
ClubFootball's campaign to bring Chinese amateur football
into the 21st century with the establishment of the first
ClubFootball Play Centre in Beijing.
Welcoming the agreement, ClubFootball Chairman Rowan
Simons remarked, "With so much focus on elite sport in
the lead up to the Olympics, MasterCard's on-going
commitment to our grassroots campaign and particularly its
extended support at this crucial time sends a powerful
message that sport is for all."
The ClubFootball campaign pays particular attention to
junior football as ClubFootball CEO Keith Bradbury
explained. "We operate fun, character building courses
at more than 10 venues, serving kids of both sexes and all
levels, so MasterCard's substantial commitment will help us
spread the message even further. Chinese kids are more than
welcome to join our courses held in international schools
and to help us spread this important message, MasterCard is
sponsoring a prize competition, offering free places on a
MasterCard ClubFootball Winter Holiday Camp and other
football-related prizes."
According to ClubFootball COO David Niven, the men's
campaign centres on MasterCard ClubFootball 5-a-side
Leagues; which offer competitive, organized football on
midweek evenings and at weekends. "The tournament
already consists of 8 divisions making it the biggest in
Beijing and it caters to all levels of ability and
interest."
When China hosted the thrilling 2007 Women's World Cup,
the MasterCard campaign also continued to emphasize the
importance of offering women an avenue into grassroots
sport and build on the interest that the tournament
inspired within the community.
"We've found that many women don't feel that
football is accessible to them, even where they hold a
long-standing interest in the game," said Niven,
"and support from MasterCard means we can offer free
coaching sessions delivered by English FA qualified
Coaches. This encourages participants to practice their
English at the same time as keeping fit and having fun and
is just the first stage in a long term plan to promote the
women's game at amateur levels."
The final element to the campaign is the MasterCard
ClubFootball Grassroots Review, a legacy fundraising event
through which ClubFootball hopes to introduce its
ClubFootball Play Centre model to Beijing. Details of the
project will be released closer to the time but events are
set to include celebrity endorsement and an auction of
star-studded football memorabilia never before seen in
China.
ClubFootball Chairman, Rowan Simons noted that
"2008 is the most important year in China's sport
history. While welcoming the Olympic Games, we are highly
focused on involving thousands more people in sport at the
amateur level and modern and professionally managed
facilities are a key part of our post-Olympic vision.
ClubFootball Play Centres offer Beijing an opportunity to
set new worldwide standards in grassroots sports and our
first site will showcase that potential."
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by
providing a critical economic link among financial
institutions, businesses, cardholders and merchants
worldwide. As a franchisor, processor and advisor,
MasterCard develops and markets payment solutions,
processes over 16 billion transactions each year, and
provides industry-leading analysis and consulting services
to financial institution customers and merchants. Through
its family of brands, including MasterCard(R), Maestro(R)
and Cirrus(R), MasterCard serves consumers and businesses
in more than 210 countries and territories. For more
information go to http://www.mastercard.com .
About ClubFootball
ClubFootball is Beijing's first joint venture football
club and has broken new ground in developing the game of
football in China through a variety of high-profile and
grass roots projects and initiatives that have earned the
company recognition throughout the business, sporting and
wider community. ( http://www.clubfootball.com.cn )
For more information, please contact:
ClubFootball
Tel: +86-10-5130-6897
Email: prmanager@wanguoqunxing.com
2007'12.05.Wed
Study Finds New Version of QIAGEN's HPV Test for Developing Countries Could Reduce Risk of Cervical Cancer by More than Half When Combined With Appropriate Treatment
November 08, 2007
Research Shows the New Test is Accurate, Simple to Run and
Requires Minimal Resources
BEIJING, Nov. 8 /Xinhua-PRNewswire/ -- Research
demonstrating the potential of a special type of HPV test
developed by QIAGEN with support from PATH -- a non-profit
global health organization -- to reduce the incidence of
cervical cancer in low-resource regions of the world were
presented this week at the 24th International
Papillomavirus Conference in Beijing, People's Republic of
China. An economic modeling analysis found that the
"FastHPV" test, which is being developed
specifically for cervical cancer screening in countries
such as China and India, could reduce the incidence of
cervical cancer by as much as 56 percent if given just
three times over a woman's life and combined with
appropriate treatment. In addition, a clinical research
study concluded that the FastHPV test produces rapid,
accurate results, yet is also simple to run, requires
minimal infrastructure and will be affordable for
public-health programs in those countries.
FastHPV -- a molecular test for cancer-causing types of
HPV (human papillomavirus) -- is under development by QIAGEN
N.V. (Nasdaq: QGEN; Frankfurt, Prime Standard: QIA) in
partnership with PATH. The test -- on track to be
submitted for its first regulatory approvals in countries
like China and India in 2008 -- is specially designed to
allow women in areas with scarce healthcare resources to
benefit from the advanced technology of HPV testing.
"It is relatively common for healthcare companies
to provide their products and services at reduced prices to
countries with minimal healthcare infrastructure and large
low-income populations," says Peer Schatz, CEO of
QIAGEN. "With our new FastHPV test, QIAGEN has gone
beyond that standard approach and has specifically adapted
the HPV DNA test it sells in the developed world to meet
the special needs of women and their healthcare providers
in these very challenging settings. What is remarkable is
that while the FastHPV test uses very advanced molecular
diagnostic technologies, it is packaged into a solution
that can be run in almost any environment and by almost any
operator. QIAGEN is already the leader in molecular
diagnostics in the developed world, and we take very
seriously our commitment to make improvements in life
possible for everyone, no matter what their socioeconomic
status."
The FastHPV test can be conducted by workers with
minimal healthcare training and education. Once collected,
samples of vaginal or cervical cells are prepared for
analysis using a kit of reagents that contains its own
water supply. The kit's stability has been demonstrated for
more than eight months at room temperature, and conditions
as extreme as 104 degrees F. -- 40 degrees C. -- can be
tolerated for up to a month. The testing itself is
conducted on easily portable equipment and will, when
introduced, run on batteries.
Human papillomavirus is the primary cause of cervical
cancer, which affects nearly 500,000 women around the world
every year and kills more than 250,000 -- of which 80
percent are in developing countries. The High-Risk hc2 HPV
DNA Test(R) developed by Digene Corp. (now part of QIAGEN)
is emerging as a standard of care for identifying women at
risk. In the United States, HPV testing has been approved
by the U.S. Food and Drug Administration for use along with
cytology (commonly called the Pap smear) in women 30 and
over. However, the infrastructure (such as clean water and
electricity) and trained personnel required for Pap smears
are not usually feasible for low-resource regions.
In addition, in these regions, transportation and other
obstacles prevent easy access to medical clinics,
necessitating rapid availability of test results so that
follow-up care -- if needed -- can be initiated quickly,
ideally the same day. FastHPV has been designed to be used
as a stand-alone diagnostic test to screen women for
cervical cancer risk, producing results in less than two
and a half hours.
The first clinical study of FastHPV to be reported,
which was summarized at the conference in Beijing, was
conducted as part of PATH's Screening Technologies to
Advance Rapid Testing (START) project. It involved more
than 2,500 women age 30-54 in mostly rural areas of China,
where the World Health Organization has found that diseases
are the cause of poverty for up to half of the population.
Because cytology is not practical in such regions, the most
common cervical cancer screening tool has been visual
inspection with acetic acid (VIA), in which the cervix is
painted with vinegar to better highlight any abnormal areas
present, then examined by a healthcare professional.
However, in this study, VIA was not very accurate; its
sensitivity (ability to identify women who have severe,
pre-cancerous cervical disease) was only 41 percent. In
contrast, the sensitivity of FastHPV was 86-90 percent when
samples of cervical cells collected by healthcare workers
were used, and 72-81 percent when women collected their own
samples using a vaginal collection device.
"Unlike other cancers, cervical cancer has a
single, known cause: HPV. That makes the disease highly
preventable -- if abnormal cells are found and treated
early. This research clearly shows that the ability of
FastHPV to accurately identify women with pre-cancerous
cervical disease is substantially better than visual
inspection and approaching that of the technology used for
HPV DNA testing in high-resource countries (QIAGEN's
proprietary hc2 platform)," concluded Professor Youlin
Qiao, who led the China study and serves as Chief of the
Department of Cancer Epidemiology at the Chinese Academy of
Medical Sciences. "FastHPV is very promising as a
realistic method for public-health cervical cancer
prevention programs in low-resource settings like many
areas of rural China."
In a separate presentation in Beijing, John Sellors,
MD, Senior Medical Advisor at PATH and START project
director, discussed the results of an economic model that
projected the impact if women in low-resource countries
were to be tested with FastHPV just three times in their
lives -- 5 years apart, after age 35. This analysis found
that cervical cancer could be reduced by 56 percent,
assuming that the majority of women participated and
effective treatment is available. The best results would be
achieved when using a "screen-and-treat" approach
that allows women found to have the virus to be treated for
possible disease in the same visit. Standard protocols in
North America and Europe call for women with a positive HPV
test to be re-screened later to confirm that the infection
has not naturally resolved, and/or to confirm the presence
of cervical disease with a biopsy. However, this is not
feasible or affordable in low-resource settings, and many
women would fail to return for the required follow-up
visits.
Dr. Sellors and his colleagues add that while
vaccination of adolescents against the most common types of
HPV would be expected to reduce the incidence of cervical
cancer even further, its cost-effectiveness will depend on
price and the ability to ensure compliance with the
necessary protocol, which currently calls for three shots
over six months.
About HPV and cervical cancer
Worldwide, cervical cancer affects nearly 500,000 women
annually and, after breast cancer, is the second-most-common
malignancy found in women. Cervical cancer is caused by
"high-risk" types of the human papillomavirus
(HPV), which are sexually transmitted. It's estimated that
80 percent of women will get an HPV infection at some point
in their lives. However, in most cases, the infection goes
away or is suppressed by the body without causing problems.
It is only infections that persist that can cause abnormal
cells to form that may develop into cervical cancer if not
detected and treated early. One report from the World
Health Organization estimates that only about 5 percent of
women had been screened for cervical disease in the
previous five years, compared to 40-50 percent in the
developed world.
About PATH ( http://www.path.org )
PATH is an international, nonprofit organization that
creates sustainable, culturally relevant solutions,
enabling communities worldwide to break longstanding cycles
of poor health. By collaborating with diverse public- and
private-sector partners, PATH helps provide appropriate
health technologies and vital strategies that change the
way people think and act. PATH's work improves global
health and well-being. Headquartered in Seattle,
Washington, USA, PATH has 29 offices in 18 countries. PATH
currently works in more than 65 countries in the areas of
health technologies, maternal and child health,
reproductive health, vaccines and immunization, and
emerging and epidemic diseases.
About QIAGEN ( http://www.qiagen.com )
QIAGEN N.V., a Netherlands holding company, is the
leading provider of innovative sample and assay
technologies and products. QIAGEN's products are considered
standards in areas such as pre-analytical sample preparation
and assay solutions for life sciences, applied testing and
molecular diagnostics. QIAGEN has developed a comprehensive
portfolio of more than 500 proprietary, consumable products
and automated solutions. The company's products are sold to
academic research markets, leading pharmaceutical and
biotechnology companies, applied testing customers (such as
in forensics, veterinary, biodefense and industrial
applications) and molecular diagnostics laboratories.
QIAGEN products are sold through a dedicated sales force
and a global network of distributors in more than 40
countries; the company employs more than 2,600 people
worldwide. Further information about HPV DNA testing
specifically can be found at http://www.theHPVtest.com .
For more information, please contact:
QIAGEN (formerly Digene)
Pam Rasmussen
Tel: +1-240-506-0766
Email: Pamela.Rasmussen@digene.com
Thomas Theuringer
Tel: +49-210-329-1826
Email: Thomas.Theuringer@qiagen.com
Sue-Lane Wood
PATH
Tel: +1-206-310-9121
Email: suelanewood@path.org
2007'12.05.Wed
Ekahau Upgrades Site Survey 4.0 to Simplify Wi-Fi Network Planning and Administration
November 08, 2007
ESS 4.0 Offers Powerful Troubleshooting and 3-D Network
Planning Tools and Integration with Ekahau RTLS
SARATOGA, Calif., Nov. 8 /Xinhua-PRNewswire/ -- Ekahau
Inc., a leading provider of Wi-Fi based Real Time Location
Systems (RTLS) and site survey tools, today introduced the
Ekahau Site Survey (ESS) 4.0, which provides IT
professionals a robust, yet simple to use, tool for Wi-Fi
network planning and administration. The latest version of
Ekahau's Wi-Fi site survey tool enables users to quickly
and easily create, improve or troubleshoot enterprise grade
Wi-Fi networks.
ESS 4.0 incorporates several new powerful features for
network integrators and IT managers. These features include
optimization for light-weight access points - such as Cisco
LWAP, Aruba Mobile Edge, the Nortel Networks WLAN Portfolio
and Siemens HiPath - and automatic location determination of
all nearby access points. ESS 4.0 also addresses the problem
of Wi-Fi signal leakage between floors with advanced
three-dimensional (3-D) prediction algorithms.
Wi-Fi network installations must take into account a
number of factors, including minimum signal strength, data
rate and signal overlap. This is true especially for Voice
over Wi-Fi networks, which have an added level of
complexity. Historically network integrators or IT managers
would have to look at each of these factors independently.
Now with ESS 4.0, they can view a network map that gives a
visual summary of whether a network is sufficient for their
specific needs, such as voice over Internet protocol (VoIP),
video, data and location tracking. This feature - called
Network Health - offers a new level of simplicity for
planning and verifying any Wi-Fi network.
ESS 4.0 also features On-Spot Check, which takes Wi-Fi
troubleshooting to the next level. Users can take an ESS
4.0-equipped laptop to a location where connectivity issues
have been detected and quickly receive real-time information
about the problem, as well as possible solutions.
ESS 4.0 now fully integrates with Ekahau RTLS, the
industry's leading Wi-Fi-based location tracking system for
assets and people. This integration eliminates the need for
a separate "location survey" procedure, instantly
allowing accurate tracking of people and assets over any
Wi-Fi network after a standard Wi-Fi site survey has been
performed.
The new features enhance the already broad
functionalities of Ekahau Site Survey, which includes
easy-to-read coverage maps based on floor plans and
in-depth network analysis through visualization of data
rates, signal-to-noise ratio, overlap, roaming, and other
factors.
"Our goal with ESS 4.0 was to simplify the
challenges IT professionals face when deploying and
managing Wi-Fi networks. We feel we have achieved that with
improved site survey and network planning functionality that
takes away the guesswork and complexity," said Arttu
Huhtiniemi, product management director at Ekahau.
"Ekahau has been the undisputed innovator in Wi-Fi,
both in terms of location tracking as well as planning/site
survey tools. With the addition of 3-D multi-floor network
planning and troubleshooting features, Ekahau is extending
its leadership in the Wi-Fi site survey/planning market.
And by having ESS integrated with Ekahau RTLS, we can
ensure location tracking performance and accuracy, with
minimal system set-up efforts."
Siemens, a global reseller for ESS and Ekahau RTLS, has
standardized their field operations on ESS. "We have
been very happy with the tool, especially the ease and
speed of use, and 4.0 is a major improvement over the
previous version," said Marcus Birkl, vice president
of Sales at Siemens. "ESS has helped us a lot in both
deploying Siemens HiPath network more quickly, and meeting
the high Siemens standards in terms of network performance
especially for VoWLAN installations. Working with great
partners such as Ekahau further validates Siemens
commitment to Open Communications and Fixed Mobile
Convenience."
ESS 4.0 will be commercially available in January 2008.
About Ekahau Inc.
Ekahau Inc. is the industry leader in providing Wi-Fi
based RTLS solutions. Ekahau's customers, including several
Fortune 500 companies worldwide, are realizing the benefits
of Wi-Fi based location services and innovative Wi-Fi
network planning and optimization tools. Ekahau partners
include wireless software developers, leading system
integrators, and international OEM partners, who develop
and market wireless enterprise applications. Ekahau is a
U.S. based corporation, with offices in Saratoga, CA;
Reston, VA; Helsinki, Finland; and Hong Kong, China. For
more information about Ekahau, please visit at
http://www.ekahau.com .
(C) 2000-2007 Ekahau, Inc. All rights reserved.
Ekahau(TM), Ekahau Positioning Engine(TM), Ekahau Site
Survey(TM), Ekahau T201 (TM), Ekahau T301 (TM)and the
Ekahau logo are trademarks or registered trademarks of
Ekahau. Other product and company names may be trademarks
or trade names of their respective owners.
For more information, please contact:
U.S. Media:
Gail Norris
Rocket Science PR
Tel: +1-240-477-4554
Email: juliet@rocketscience.com
Mirja Katainen
Marketing Planner
Ekahau Inc.
Tel: +358-20-743-5913
Email: marketing@ekahau.com
Arttu Huhtiniemi
Director of Product Management
Ekahau Inc.
Tel: +358-20-743-5916
Email: Products@ekahau.com
2007'12.05.Wed
Holiday Inn Express, Office 1 and Vanke Among Companies to Exhibit at 10th Annual Franchising China Event in Shanghai
November 08, 2007
SHANGHAI, Nov. 8 /Xinhua-PRNewswire/ -- Global Sources'
(Nasdaq: GSOL) 10th Annual Franchising China Conference
& Exhibition ( http://www.franchisechina.com ) opens
today and runs through tomorrow at Shanghai Mart.
(Logo: http://www.xprn.com/xprn/sa/200708071747.jpg )
Nearly 100 international and local franchisors and
20,000 entrepreneurs are expected to participate at the
event and the two other legs of Franchising China in:
-- Guangzhou -- Nov. 12-13 at Jin Han Exhibition
Center
-- Beijing -- Nov. 15-16 at China World Trade Center
Among the international brands set to exhibit are
Athlete's Foot, Gloria Jean's Coffee, Holiday Inn Express,
Meyer Cookware, Office 1, Subway and Super 8 Motels.
Successful domestic China franchisors are also set to
participate including Dio Coffee, Home Inn, Iceason, ILSA
Laundry, JinJiang Inn, Vanke and Tayohya.
Exhibitors represent product categories ranging from
retail, education, hotels, laundry services and food &
beverage to beauty & health, automotive, commercial
services and furniture/home products.
Global Sources' Chief Operating Officer, Craig Pepples,
said: "Franchising is an ideal way for entrepreneurs to
start a new business. Start-up costs are relatively low,
with about one-third of franchises in China requiring an
investment of less than 100,000 Yuan.
"And what better place to open a franchise than in
Shanghai? Per capita income of permanent urban residents in
Shanghai was more than US$ 7,000 in 2006, almost four times
the national average. Residents also have the highest
disposable income of any city in China.
"Franchising China not only offers would-be
business owners a range of international and local
franchises to choose from, we give them the knowledge they
need to run it successfully. Plus, it's an excellent venue
for people in the industry to network with current and
future business partners, and to discuss new opportunities
in China's booming franchise market."
Free Seminars Offering Best-of-Breed Franchising
Insight
Free seminars and lectures will give attendees an
overview of franchising as well as tips to operate
franchises in specific industries.
The chairman of the International Franchise
Association, Michael Isakson, is scheduled to be the
keynote speaker on the first day of each show. He will
share important aspects of how to evaluate a franchise
before investing.
On the second day of each event, executives from Dio
Coffee and JinJiang Inn are scheduled to discuss business
opportunities created by the 2008 Beijing Olympics.
Visitors can also attend Franchise Opportunity Seminars
given by individual franchisors. Company representatives
will introduce requirements for becoming a franchisee along
with the benefits of their franchise systems. Seminars will
be conducted by 14 different franchisors.
Seminar schedules, more event details and online
pre-registration are available at
http://www.franchisechina.com .
Global Sources Websites, Magazines and Trade Shows for
China's B2B Market
Franchising China is an important part of Global
Sources products and services enabling local and
international suppliers to sell to China's domestic B2B
market. These include Chief Executive China magazine and
website ( http://www.ceconline.com ), Elegant Living
magazine and website ( http://www.elegantlivingchina.com )
as well as the company's electronics industry focused trade
magazines, websites and events.
About Franchising China
Organized by Global Sources (Nasdaq: GSOL) and
sponsored by Chief Executive China (
http://www.ceconline.com ), Franchising China has been a
pioneer in introducing international franchise exhibitions
to China since 1998. Today, it's the region's premier
multinational franchise event and a prime location for
famous brands seeking business partners. As a result, the
event has earned the repeated support of international
associations such as the International Franchise
Association (IFA), the Franchising and Licensing
Association of Singapore (FLA) and the Malaysia External
Trade Development Corporation (Matrade). Furthermore, the
Shanghai show has received the US Department of Commerce's
trade fair certification.
Franchising China exhibitors come from the US,
Australia, Italy, Switzerland, Singapore, Malaysia, the
Philippines, Hong Kong and other countries, representing
industries such as retail, food, education, training,
business services and more. Past exhibitors include Subway,
Athlete's Foot and other well-known brands. More than 20,000
visitors attended the 2006 Franchising China exhibition --
80% of whom were senior managers.
About Global Sources
Global Sources is a leading business-to-business (B2B)
media company and a primary facilitator of two-way trade
with Greater China. The core business is facilitating trade
from Greater China to the world, using a wide range of
English-language media. The other key business segment
facilitates trade from the world to Greater China using
Chinese-language media.
The company provides sourcing information to volume
buyers and integrated marketing services to suppliers. It
helps a community of over 647,000 active buyers source more
profitably from complex overseas supply markets. With the
goal of providing the most effective ways possible to
advertise, market and sell, Global Sources enables
suppliers to sell to hard-to-reach buyers in over 230
countries.
The company offers the most extensive range of media
and export marketing services in the industries it serves.
It delivers information on 2 million products and more than
160,000 suppliers annually through 14 online marketplaces,
13 monthly magazines, over 100 sourcing research reports
and nine specialized trade shows which run 22 times a year
across seven cities.
Suppliers receive more than 23 million sales leads
annually from buyers through Global Sources Online (
http://www.globalsources.com ) alone.
Global Sources has been facilitating global trade for
36 years. In mainland China it has over 2,000 team members
in 44 locations, and a community of over 1 million
registered online users and magazine readers for
Chinese-language media.
For more information, please contact:
Global Sources Press Contact in Asia:
Camellia So
Tel: +852-2555-5021
Email: cso@globalsources.com
Global Sources Press Contact in U.S.:
James W.W. Strachan
Tel: +1-480-664-8309
Email: strachan@globalsources.com
Global Sources Investor Contact in Asia:
Eddie Heng
Tel: +65-6547-2850
Email: eheng@globalsources.com
Global Sources Investor Contact in U.S.:
Moriah Shilton & Christiane Pelz
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Email: cpelz@lhai.com
2007'12.05.Wed
Get Answers on All of China's Hot Topics in Mobile Telecom from ONE Event
November 08, 2007
TEDA and IMIE Partners with TDIA to Hold Senior Events at
GSMA Mobile Asia Congress
TIANJIN, China, Nov. 8 /Xinhua-PRNewswire/ -- Tianjin
Economic and Technological Development Area (TEDA) and
International Mobile Phone Industry Exhibition and Forum
(IMIE) announced today that they will partner with the
TD-SCDMA Industry Alliance (TDIA) to organize a series of
events for executives and senior managers at GSMA Mobile
Asia Congress in Macau SAR, China from November 12th to
15th, 2007. These events will cover hot topics like new
technologies in the Beijing Olympic Games, 3G deployment in
China, progress of the TD-SCDMA standard, development of the
New Tianjin Binhai Area, and updates on IMIE.
(Logo:
http://www.xprn.com.cn/xprn/sa/20061103123230-28-min.jpg )
In the afternoon of November 12th, TDIA will organize
the "Seminar on Beijing Olympic Games and
TD-SCDMA." The Beijing 2008 Olympic Games is regarded
as a trigger of China's 3G service. This summit will look
into opportunities related to Beijing Olympic
telecommunication services. Speakers from government
bureaus and operators will introduce the telecom service,
market demand and solutions for the Game.
With more than a half billion mobile subscribers and
38% penetration rate, China is still one of the biggest
potential markets for mobile technologies and services,
especially for the third generation mobile communication
(3G). Regionally, Tianjin is one of the hottest areas in
China's mobile telecom industry. About one in ten mobile
phones in the world is produced there. Besides the huge
facility of Motorola and Samsung, ZTE announced a huge
investment with an amount of US$650 million in Tianjin. The
new project of ZTE focuses on WiMAX and other mobile
technologies.
In order to boost the development of North China, the
central government of China launched a series of favorable
policies for the New Tianjin Binhai Area (TBNA). TEDA is
located at the center of TBNA. IMIE is the largest mobile
phone industry event in China, which is held by TEDA, China
Telecom Institute and other organizations. The show had a
space of 20,000 square meters and attracted more than
20,000 visitors in 2007.
Speakers from Beijing Olympic Organizing Committee,
Datang Mobile, Anritsu, ZTE and terminal vendors will
introduce the LTE of TD-SCDMA, the end-end testing
environment, latest progress of the under going TD-SCDMA
networking in ten Olympic cities in China; and the terminal
options to visitors of the Beijing Olympics. Panelists from
operators, technology vendors, and financial organizations
will talk about TD-SCDMA's past and future. Q & A will
be held at the last section of the Summit.
In the evening of November 13th, TEDA, IMIE and TDIA
will co-host "Reception and Salon for Mobile Elites
and Managers" during the GSMA Mobile Asia Congress.
The salon will be the best place to network with C-level
from the Asia mobile industry. Besides executives from
members of TDIA, senior officials from the Administrative
Committee of TEDA and other government bureaus, China
market experts from IMIE will share their experience with
guests of the salon.
"TEDA is paying much attention to the construction
of the mobile communication industry chain at the center of
TBNA. Annually, we jointly hold the IMIE with some other
leading local partners. And the IMIE has been supported by
China's Ministry of Information Industry (MII) and Ministry
of Commerce (MOC)," said Jiaxiang Li, Secretary General
of IMIE. "So both TEDA and IMIE have become shortcuts
for overseas companies to access China's fast growing
mobile communication industry and market. Now, we have a
plan to connect this event to more overseas partners.
That's the reason why we participate in the GSMA Asia
Mobile Congress actively. Besides meeting with our
potential partners, we hold two high class seminars with
TDIA for global industry people. The events will help the
industry to find a direct approach to the China
market."
Find more about IMIE at http://www.eglobalpurchase.com
, and GSMA Mobile Asia Congress:
http://www.mobileasiacongress.com .
For more information, please contact:
Ding Lei
Phone: +86-22-2520-1616
Yang Chonghao
Phone: +86-22-2520-2069
Website: http://www.investteda.org
2007'12.05.Wed
Hong Kong's Financial Secretary, John Tsang Guest Of Honour at the Opening Ceremony Of MIPIM Asia 2007
November 08, 2007
HONG KONG, Nov. 8 /Xinhua-PRNewswire/ -- Hong Kong's
Financial Secretary, John Tsang, will be the Guest of
Honour at the Opening Ceremony of MIPIM Asia 2007, which
will be held at the Hong Kong Convention and Exhibition
Centre, November 28-30, 2007.
(Logo: http://www.xprn.com/xprn/sa/200705101053.JPG )
The Financial Secretary will be present at the Opening
Ceremony on November 28, at 9.15am at the MIPIM Asia
entrance inside the Convention and Exhibition Centre.
All media who wish to participate at this event and at
MIPIM Asia, must register in advance (free of charge). The
deadline for press registration is November 20th.
The accreditation form is enclosed:
http://www.mipcom.com/images/100495/pdf/mipcom2007_press_form.pdf
Please make your press registration request and send it
back by fax: +33-1-4190-6724 or email:
belinda@creativegp.com .
For more information, please visit:
http://www.mipimasia.com/gb/press/press_registration
For more press information, please contact:
Press Office in Hong Kong:
Belinda CHAN
Tel: +852-2372-0090
Email: belinda@creativegp.com
2007'12.05.Wed
Daniel Libeskind, Architect and Urban Designer Keynote at MIPIM Asia 2007
November 08, 2007
HONG KONG, Nov. 8 /Xinhua-PRNewswire/ -- Architects
from around the world will be meeting in Hong Kong to
attend the second edition of MIPIM Asia, the world's
property market in Asia-Pacific (28-30 November, Hong Kong
Convention and Exhibition Centre). This year MIPIM Asia
announces the presence of Daniel Libeskind, the
internationally-renowned architect and urban designer, who
will speak on Tuesday 29 November, during the conference on
trends in Asia Pacific architecture.
(Logo: http://www.xprn.com/xprn/sa/200705101053.JPG )
Acknowledged as one of the most influential architects
of his generation, award-winning Daniel Libeskind was
chosen in July 2003 to redesign the reconstruction of
Ground Zero in New York City. Among other projects, he has
designed the extension of the Royal Museum in Ontario
(Canada), the Dresden Museum of Military History (Germany),
The Grand Canal Performing Arts Centre and Galleria in
Dublin (Ireland), The Sukkah, an extension to the Berlin
Jewish Museum, and, "Westside," Europe's largest
shopping centre located in the Bern Region in Switzerland
and due to open in 2008.
For Libeskind, architecture is not just about making
buildings, but also about expressing culture and history.
From this perspective he designed the Jewish Museum in
Berlin (Germany), The Imperial War Museum North in
Manchester (United Kingdom), the Museum of Danish Jews in
Copenhagen (Denmark) and the Memoria e Lucce in Padua
(Italy).
MIPIM Asia, which will bring together leading companies
involved in real estate business, has proved particularly
popular with many architecture specialists. To date, some
50 architectural practices from 19 countries will be
attending the three-day event. Just a month from its
opening, MIPIM Asia has already registered some 1,300 real
estate professionals and 599 companies from 44 countries.
Architectural companies exhibiting at MIPIM Asia
include Aedas Ltd. (Hong Kong), Air-French New Architects
(France), Archetype Group (Viet Nam), Archibat (France),
Arquitectonica (Hong Kong), Benoy Ltd (UK), DI Design &
Development Consultants (UK), Gansam Partners (South Korea),
HOK International (Hong Kong), Jerde Partnership (Hong
Kong), Kasian Global China (China), La Guarda Low
Architects (USA), Manuelle Gautrand (France), Wet Design
(USA).
You can find detailed information about MIPIM Asia at:
http://www.mipimasia.com .
For more press information, please contact:
Belinda CHAN
Tel: +852-2372-0090
Email: belinda@creativegp.com
2007'12.05.Wed
EnerSys Reports Second Fiscal Quarter of 2008 Results
November 08, 2007
READING, Pa., Nov. 8 /Xinhua-PRNewswire/ --
EnerSys (NYSE: ENS), the world's largest manufacturer,
marketer and distributor of industrial batteries, announced
today its financial results for the second fiscal quarter of
2008. Net earnings for the second fiscal quarter of 2008
were up 46%, and on a non-GAAP adjusted basis, were up 51%
when compared to the comparable prior year amounts. Please
refer to the section included herein under the heading
"Reconciliation of Non-GAAP Financial Measures"
for a discussion of the Company's use of non-GAAP adjusted
financial information.
Net earnings for the second fiscal quarter of 2008 were
$16.8 million, or $0.36 per basic share and $0.35 per
diluted share, which includes $0.3 million ($0.4 million
pre-tax) unfavorable impact of the continuation of the
previously disclosed European restructuring plan. Excluding
the highlighted European restructuring charges in the second
fiscal quarter of 2008, non-GAAP adjusted net earnings were
$17.1 million, or $0.35 per diluted share, and exceed the
previous guidance of $0.22 - $0.26 per diluted share
provided on August 8, 2007. The previous guidance also
excluded the unfavorable impact of the European
restructuring charges.
Net earnings in the second fiscal quarter of the prior
year were $ 11.5 million, or $0.25 per basic share and
$0.24 per diluted share, which included $0.7 million ($1.0
million pre-tax) or a $0.01 per share favorable impact from
a legal settlement, offset by the unfavorable impact from
professional fees related to a shelf registration and an
abandoned acquisition of $0.5 million ($0.7 million
pre-tax) or a $0.01 per share. Excluding the highlighted
charges and credits, non-GAAP adjusted net earnings for the
second fiscal quarter of the prior year were $11.3 million
or $0.24 per basic and diluted share.
Net sales for the second fiscal quarter of 2008 were
$461.5 million compared to $353.9 million in the comparable
period of the prior year, or an increase of 30%.
EnerSys' operating results for its reporting segments
for the second fiscal quarter of 2008 and comparable prior
year period are as follows (in millions):
Fiscal quarters
ended
October 1, 2006
September 30, 2007
Operating
Operating
Net Sales Earnings Net
Sales Earnings
Reserve Power $158.8 $10.3
$198.6 $9.3
Motive Power 195.1 13.4
262.9 22.6
Restructuring charges - -
- (0.4)
Litigation settlement
income - 1.0
- -
$353.9 $24.7
$461.5 $31.5
Net earnings for the six fiscal months of 2008 were up
2%, and on a non-GAAP adjusted basis, were up 45% when
compared to the comparable prior year amounts. Please refer
to the section included herein under the heading
"Reconciliation of Non-GAAP Adjusted Financial
Measures" for a discussion of the Company's use of
non-GAAP adjusted financial information.
Net earnings for the six fiscal months of 2008 were
$24.2 million or $0.51 per basic share and $0.50 per
diluted share, included an unfavorable $0.15 per share
impact from the $7.1 million ($10.3 million pre-tax) of the
European restructuring and $0.1 million ($0.2 million
pre-tax) unfavorable impact of professional fees related to
a secondary offering. Excluding the highlighted charges,
non-GAAP adjusted net earnings for the six fiscal months of
2008 were $31.4 million or $0.67 per basic share and $0.65
per diluted share.
Net earnings in the six fiscal months of the prior year
were $23.6 million, or $0.51 per basic share and $0.50 per
diluted share, which included $2.6 million ($3.8 million
pre-tax) or a $0.6 per share favorable impact from legal
settlements, offset by the unfavorable impact of $0.5
million ($0.8 million pre-tax) or a $0.01 per share from
professional fees related to a shelf registration and an
abandoned acquisition. Excluding the highlighted charges
and credits, non-GAAP adjusted net earnings for the six
fiscal months of the prior year were $21.5 million or $0.46
per basic share and $0.45 per diluted share.
Net sales for the six fiscal months of 2008 were $891.3
million compared to $713.0 million in the prior year, or an
increase of 25%.
EnerSys' operating results for its reporting segments
for the six fiscal months of 2008 and comparable prior year
period are as follows (in millions):
Six fiscal months
ended
October 1, 2006
September 30, 2007
Operating
Operating
Net Sales Earnings Net
Sales Earnings
Reserve Power $317.2 $19.7
$383.3 $17.8
Motive Power 395.8 26.8
508.0 43.3
Restructuring and
other charges - -
- (10.3)
Litigation settlement
income - 3.8
- -
$713.0 $50.3
$891.3 $50.8
"We continue to experience record sales with broad
based growth in all regions of the world and in both of our
market segments. I believe that our customers realize the
value and the quality of the products and services that we
deliver to them every day," stated John D. Craig,
chairman, president and chief executive officer. "I am
pleased with our earnings in the second quarter, resulting
from our increased sales volume and the impact of our
investments in support of cost reductions and lower cost
manufacturing facilities. Offsetting these improvements,
however, are increased commodity costs, especially lead
which reached an unprecedented level in our second quarter.
We have not yet fully recovered the impact of these cost
increases through selling price adjustments."
Craig added, "We anticipate that adjusted diluted
net earnings per share for our third fiscal quarter of 2008
will be between $0.25 and $0.29, which excludes the expected
additional European restructuring charges of approximately
$2 million ($0.03 per share) as described in our press
release of May 23, 2007."
This press release contains forward-looking statements
(within the meaning of the Private Securities Litigation
Reform Act of 1995) that are based on management's current
expectations and subject to uncertainties and changes in
circumstances. The Company's actual results may differ
materially from the forward-looking statements for a number
of reasons. For a list of the factors, which could affect
the Company's results, including earnings estimates, see
"Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations,"
including "Forward-Looking Statements," set forth
in the Company's Quarterly Report on Form 10-Q for the
second fiscal quarter ended September 30, 2007, which was
filed with the U.S. Securities and Exchange Commission.
Reconciliation of Non-GAAP Adjusted Financial Measures
This press release contains financial information
determined by methods other than in accordance with U.S.
Generally Accepted Accounting Principles
("GAAP"). EnerSys' management uses non-GAAP
measures in their analysis of the Company's performance.
These measures, as used by EnerSys in past quarters and
years, adjust net earnings determined in accordance with
GAAP to reflect changes in financial results associated
with the Company's restructuring initiatives and
highlighted charges and income items. Management believes
presentations of financial measures reflecting these
non-GAAP adjustments provide important supplemental
information in evaluating the operating results of the
Company as distinct from results that include items that
are not indicative of ongoing operating results; in
particular, the charges that the Company incurs as a result
of restructuring activities associated with our
acquisitions; and those charges and credits that are not
directly related to operating unit performance and are
unusual in nature. Because these charges are incurred as a
result of an acquisition, they are not a valid measure of
the performance of our underlying business. These
disclosures have limitations as an analytical tool, should
not be viewed as a substitute for net earnings determined
in accordance with GAAP, should not be considered in
isolation or as a substitute for analysis of the Company's
results as reported under GAAP, nor are they necessarily
comparable to non-GAAP performance measures that may be
presented by other companies. Management believes that this
non-GAAP supplemental information will be helpful in
understanding the Company's ongoing operating results. This
supplemental presentation should not be construed as an
inference that the Company's future results will be
unaffected by similar adjustments to net earnings
determined in accordance with GAAP.
Included below is a reconciliation of non-GAAP adjusted
financial measures to reported amounts. Non-GAAP adjusted
net earnings are calculated excluding restructuring and
highlighted charges. The following tables provide
additional information regarding certain non-GAAP
measures:
Fiscal
Quarters Ended
October
1, September 30,
2006
2007
(in millions,
except share and
per
share amounts)
Net earnings reconciliation
As reported net earnings $ 11.5
$ 16.8
Non-GAAP adjustments (net of tax):
Restructuring charges -
0.3(1)
Litigation settlement income
(0.7)(2) -
Shelf registration statement
and an abandoned acquisition
0.5(3) -
Non-GAAP adjusted net earnings $11.3
$17.1
Outstanding shares used in
per share calculations
Basic 46,471,958
47,098,758
Diluted 47,769,804
48,068,262
Non-GAAP adjusted net
earnings per share:
Basic $0.24
$0.36
Diluted $0.24
$0.35
Reported net earnings per share:
Basic $0.25
$0.36
Diluted $0.24
$0.35
Six
fiscal months ended
October
1, September 30,
2006
2007
(in millions,
except share and
per
share amounts)
Net earnings reconciliation
As reported net earnings $ 23.6
$ 24.2
Non-GAAP adjustments (net of tax):
Restructuring charge -
7.1(1)
Litigation settlement income
(2.6)(2) -
Shelf registration statement
and secondary offering
and an abandoned acquisition
0.5(3) 0.1(3)
Non-GAAP adjusted net earnings
$ 21.5
$ 31.4
Outstanding shares used in
per share calculations
Basic 46,404,985
46,992,038
Diluted 47,457,668
47,959,897
Non-GAAP adjusted net
earnings per share:
Basic $ 0.46
$ 0.67
Diluted $ 0.45
$ 0.65
Reported net earnings per share:
Basic $ 0.51
$ 0.51
Diluted $ 0.50
$ 0.50
(1) Resulting from pre-tax charges of $0.4 million in
the second fiscal
quarter of 2008 and $10.3 million in the fiscal
six months of 2008,
primarily for severance costs related to staff
reductions and other
restructuring activities in Europe.
(2) Resulting from two favorable legal settlements,
net of fees and
expenses, recorded in the first and second fiscal
quarters of 2007.
(3) Resulting from legal and professional fees related
to a shelf
registration statement and secondary offering, and
an abandoned
acquisition, recorded in the first fiscal quarter
of 2008 and the
second fiscal quarter of 2007.
EnerSys
Summary of Earnings
(In millions, except share and per share data)
(Unaudited)
Fiscal
quarter ended
October 1
September 30,
2006
2007
Net sales $ 353.9
$ 461.5
Gross profit 77.7
92.0
Operating expenses 54.0
60.0
Restructuring and other charges -
0.4
Litigation settlement (1.0)
-
Operating earnings 24.7
31.5
Earnings before income taxes 16.8
23.7
Net earnings $ 11.5
$ 16.8
Net earnings per common share
Basic $ 0.25
$ 0.36
Diluted $ 0.24
$ 0.35
Weighted average shares outstanding
Basic 46,471,958
47,098,758
Diluted 47,769,804
48,068,262
EnerSys
Summary of Earnings
(In millions, except share and per share data)
(Unaudited)
Six
fiscal months ended
October 1,
September 30,
2006
2007
Net sales $ 713.0
$ 891.3
Gross profit 154.8
178.6
Operating expenses 108.3
117.5
Restructuring and other charges -
10.3
Litigation settlement income (3.8)
-
Operating earnings 50.3
50.8
Earnings before income taxes 34.6
34.4
Net earnings $ 23.6
$ 24.2
Net earnings per common share
Basic $ 0.51
$ 0.51
Diluted $ 0.50
$ 0.50
Weighted average shares outstanding
Basic 46,404,985
46,992,038
Diluted 47,457,668
47,959,897
EnerSys will host a conference call to discuss the
Company's second fiscal quarter 2008 financial results and
provide an overview of the business. The call will
conclude with a question and answer session.
The call, scheduled for Thursday, November 8, 2007, at
9:00 a.m. Eastern Time, will be hosted by John D. Craig,
Chairman, President and Chief Executive Officer and Michael
T. Philion, Executive Vice President - Finance and Chief
Financial Officer.
The call will also be Webcast on EnerSys' website.
There will be a free download of a compatible media player
on the Company's website at http://www.enersys.com.
The conference call information is:
Date: Thursday, November 8,
2007
Time: 9:00 a.m. Eastern Time
Via Internet: http://www.enersys.com
Domestic Call-In Number: 866-831-6247
International Dial-In Number: 617-213-8856
Passcode: 35669119
A replay of the conference call will be available from
11:00 a.m. on November 8, 2007, through midnight on
December 7, 2007.
Via Internet: http://www.enersys.com
Domestic Call-In Number: 888-286-8010
International Dial-In Number: 617-801-6888
Passcode: 28935562
About EnerSys
EnerSys, the world leader in stored energy solutions
for industrial applications, manufactures, distributes and
services reserve power and motive power batteries,
chargers, power equipment, and battery accessories to
customers worldwide. Reserve power batteries are used in
the telecommunications and utility industries,
uninterruptible power suppliers, and numerous applications
requiring standby power. Motive power batteries are
utilized in electric forklift trucks and other commercial
electric powered vehicles. The Company also provides
aftermarket and customer support services to its customers
from over 100 countries through its sales and manufacturing
locations around the world.
More information regarding EnerSys can be found at
http://www.enersys.com .
For more information, please contact:
Richard Zuidema
Executive Vice President
EnerSys, P.O. Box 14145, Reading, PA 19612-4145
Tel: +1-800-538-3627
Website: http://www.enersys.com
2007'12.04.Tue
Fenofibrate - First Lipid Modifying Agent Shown to Protect Diabetic Eye
November 08, 2007
SYDNEY, Australia, Nov. 8 /Xinhua-PRNewswire/ --
In the Lancet, on Tuesday, November, 6th new results of
the Fenofibrate Intervention and Event Lowering in Diabetes
(FIELD) 2007 clinical trial have been published and
presented on the same date at a press conference held
during the AHA.
- First lipid modifying agent shown to reduce the need
for treatment of
the leading causes of blindness and deteriorating
vision in patients
with type 2 diabetes
- Reduces need for laser treatment in patients with and
without known
diabetic retinopathy
- Significantly decreases progression of diabetic eye
disease
If you are interested in knowing more about this
breaking news
and in getting additional information on the management of
microvascular
complications in type 2 diabetes, we are pleased to invite
you to visit "the
Field Study Investigators Website," where you will
have the opportunity to
login to the Webcast of the press conference.
Please click below: http://www.thefieldtrial.org
For more information, please contact:
Beth Quinlivan
University of Sydney
Tel: +61-2-9036-6528
Mobile: +61-0-419-229-134
Email: bquinlivan@med.usyd.edu.au
2007'12.04.Tue
Visa and American Express Settle Legal Dispute
November 08, 2007
Settlement to be Funded by Visa USA Financial Institutions,
Not Visa Inc.
Settlement Addresses Claims Against Bank Defendants
SAN FRANCISCO, Nov. 8 /Xinhua-PRNewswire/ -- Visa Inc.
announced today that the litigation with American Express
pending since 2004 has been settled. The settlement will
ultimately be funded by members of Visa USA
-- not Visa Inc. -- through the company's retrospective
responsibility plan, a series of agreements with U.S.
financial institutions to fund financial obligations of
certain litigation, including this case. The plan was
described in Visa Inc.'s recent S-4 filing.
The settlement agreement, which is contingent upon Visa
USA member approval, ends all current litigation between
American Express and Visa USA, Visa International and their
members related to this issue. By settling this litigation
Visa is not conceding any liability in the dispute. In
addition, the settlement resolves American Express's actual
or potential claims against the named bank defendants in
this case: US Bank, Wells Fargo, Washington Mutual,
JPMorgan Chase & Co. and Capital One. The agreement
covering the bank defendants absolves them of all
responsibility in this matter related to their
participation in the Visa and MasterCard networks.
"Visa is doing what is in the best interests of
its membership and the new organization," said Visa
Inc. CEO and Chairman Joseph W. Saunders. "Our
retrospective responsibility plan and these settlement
agreements reduce risk and uncertainty for our members and
Visa. I believe this is a positive resolution for Visa and
its financial institutions."
Under the proposed agreement, American Express will
receive $945 million from Visa and an additional payment
from the bank defendants by March 15 and no later than
March 31, 2008. Beginning March 31, 2008, Visa will pay
American Express an additional amount of up to $70 million
a quarter for 16 quarters, for a maximum total of $1.12
billion. Visa's nominal payout is $2.065 billion with an
accounting reserve of $1.9 billion and a net present value
to Visa of $1.8 billion.
The member institutions of Visa USA - and not Visa Inc.
- bear the responsibility for funding the settlement through
the application of Visa's retrospective responsibility plan.
The plan includes a multi-step mechanism to fund financial
obligations of Visa USA and Visa International related to
certain litigation, including the American Express case.
Through this mechanism, any payments made by Visa Inc. as
part of this settlement ultimately will be reimbursed by
Visa USA member institutions.
"With this dispute behind us, Visa will remain
focused on being a global payments leader," Saunders
said. "We are confident in our competitive position
and the value we provide our customers with our
comprehensive suite of products, secure and reliable
payment system, and leading global brand and merchant
acceptance."
ABOUT VISA: Visa operates the world's largest retail
electronic payments network providing processing services
and payment product platforms. This includes consumer
credit, debit, prepaid and commercial payments, which are
offered under the Visa, Visa Electron, Interlink and PLUS
brands. Visa enjoys unsurpassed acceptance around the world
and Visa/PLUS is one of the world's largest global ATM
networks, offering cash access in local currency in more
than 170 countries. For more information, visit
www.visa.com.
FORWARD-LOOKING STATEMENTS: This press release contains
forward-looking statements. These statements may be
identified by the use of words such as "will,"
"believes," "anticipates,"
"intends," "estimates,"
"expects," "projects,"
"plans" or similar expressions. Such
forward-looking statements include, without limitation,
statements about the proposed settlement, our retrospective
responsibility plan, strategy, future operations, prospects,
plans and objectives of management and events or
developments that we expect or anticipate will occur. The
forward-looking statements reflect Visa's current views and
assumptions and are subject to risks and uncertainties,
which may cause actual and future results and trends to
differ materially from the forward-looking statements,
including but not limited to Visa's ability to achieve its
strategic objectives and the expected goals of the
settlement and our retrospective responsibility plan;
general market conditions; the outcome of legal
proceedings; uncertainties inherent in operating
internationally; and the impact of law and regulations.
Many of these factors are beyond Visa's ability to control
or predict. Given these factors, you should not place undue
reliance on the forward-looking statements.
For more information, please contact:
Joseph Carberry
Visa
Tel: +1-415-932-2164
Email: jcarberr@visa.com
2007'12.04.Tue
New Analysis of the METEOR Study Demonstrate the Positive Effects of CRESTOR(TM) on Atherosclerosis in Patients With two or More Risk Factors
November 08, 2007
- Data Presented at AHA Scientific Sessions Adds to Body of
Evidence Highlighting Unique Benefits of CRESTOR Across the
Spectrum of Atherosclerosis Disease Progression
ORLANDO, Fla., Nov. 7 /Xinhua-PRNewswire/ -- New
analysis of the METEOR (Measuring Effects on intima media
Thickness: an Evaluation Of Rosuvastatin) trial presented
today showed CRESTOR(TM) (rosuvastatin) 40mg slowed the
progression of carotid intima-media thickness (CIMT) in
patients at varying levels of risk for cardiovascular
disease while all placebo treated subjects exhibited
significantly higher progression rates.
This new analysis was conducted in subjects defined by
the Framingham risk assessment tool as having less than two
or two or more risk factors (RF) with either thinner or
thicker CIMT (<1.749 mm [median] vs. more than or equal
to 1.749 mm). Results demonstrated that CRESTOR
significantly slowed the progression of CIMT in all four
subgroups (all p<0.02) compared to placebo treated
subjects who all exhibited significantly higher progression
rates. These data were presented at the American Heart
Association Scientific Sessions in Orlando, Florida.
"The METEOR trial continues to provide important
information regarding the effects of CRESTOR on
atherosclerotic progression in subjects with various
degrees of risk based on conventional risk factors and
carotid artery wall thickness," said John R. Crouse,
III, M.D., lead investigator and Professor of Endocrinology
at Wake Forest University School of Medicine, Winston-Salem,
NC.
The analysis showed that CRESTOR, when compared with
placebo, slows progression of carotid atherosclerosis in
subjects at relatively low risk of cardiovascular disease
(<2RF + Thinner CIMT; 0.0007mm/yr v. 0.0123mm/yr with
placebo and <2RF + Thicker CIMT; -0.0012mm/yr v.
0.0116mm/yr with placebo). Furthermore, those with more
risk factors and those with greater baseline thickness in
the CRESTOR-treated group exhibited a greater trend toward
regression or a greater negative slope (2+RF + Thinner
CIMT; -0.0013mm/yr v. 0.0144mm/yr with placebo and 2+RF +
Thicker CIMT; -0.0071mm/yr v. 0.015mm/yr with placebo).
A further analysis presented earlier at AHA Scientific
Sessions demonstrated CRESTOR significantly reduced CIMT
progression after 12 months with a rate of 0.0032 mm/yr
compared with 0.0133 mm/yr for placebo (p=0.049). This
analysis evaluated the shortest time period at which
differences in atherosclerosis progression rates were
detectable after initiating CRESTOR therapy. Data showed
that aggressive LDL-C lowering with CRESTOR exerts a
beneficial effect on atherosclerosis during the first year
of treatment, which parallels the timing of event rate
reduction seen in clinical trials. Additional results
include:
-- Differences in CIMT progression rates between the
CRESTOR and placebo
groups were apparent after six months: 0.0023 mm/yr
and 0.0106 mm/yr,
respectively (p=0.36).
-- After 18 months, the difference in CIMT progression
rates between
CRESTOR and placebo increased: -0.0009 mm/yr and
0.0131 mm/yr,
respectively (p<0.0001).
-- After 24 months, CIMT progression between the
CRESTOR and placebo
groups increased further; -0.0014 mm/yr and 0.0131
mm/yr, respectively
(p<0.0001).
Ultrasound assessments were made at 12 carotid artery
sites at baseline and every 6 months up to two years. In
these analyses, the same statistical method was applied to
the data cut at 6 months, 1 year, and 18 months, in
addition to the analysis of all data at two years.
Atherosclerosis occurs when there is a build-up of
fatty or fibrous deposits, known as plaques, in the artery
wall. Plaques cause the artery to narrow, and can reduce
the blood supply to the heart, brain, and other vital
organs, resulting in symptoms such as angina or transient
ischaemic attacks. Plaques can also rupture and lead to the
formation of a thrombus, which can result in a sudden,
complete blockage of blood flow. In the heart, this
blockage causes a heart attack; in the brain, it causes a
stroke. Atherosclerosis is a progressive disease and the
main cause of cardiovascular disease - the number one
killer worldwide.(1)
METEOR (Measuring Effects on intima media Thickness: an
Evaluation Of Rosuvastatin) was a 24-month, randomised,
double-blind, placebo-controlled, international study to
evaluate the effect of CRESTOR 40 mg in 984 asymptomatic,
hypercholesterolaemic patients with a low risk of CHD
(Framingham ten-year risk <10%) and evidence of
sub-clinical atherosclerotic disease as determined by a
thickened carotid artery wall (maximum CIMT >1.2 and
<3.5 mm). METEOR data presented earlier this year were
the first to show a positive effect on atherosclerosis in
this patient population.
CRESTOR is indicated for the treatment of lipid
disorders. The results from the METEOR study, supported by
data from the ASTEROID(2) and ORION trials, formed the
basis of the atherosclerosis regulatory submissions filed
in the European Union and the United States in January
2007. The CRESTOR (rosuvastatin) Prescribing Information in
Europe was updated to incorporate data from the METEOR study
in section 5.1 of the SmPC in July 2007.
These new results from METEOR add to the wealth of
CRESTOR efficacy data from its extensive GALAXY clinical
trials programme(3), designed to address important
unanswered questions in statin research. Currently, more
than 69,000 patients have been recruited in over 55
countries worldwide to participate in the GALAXY
Programme.
CRESTOR has now received regulatory approvals in over
90 countries. More than 11 million patients have been
prescribed CRESTOR worldwide. Data from clinical trials(4)
and real world use(5, 6) shows that the safety profile for
CRESTOR is in line with other marketed statins.
The 40 mg dose is the highest registered dose of
CRESTOR. CRESTOR should be used according to the
prescribing information, which contains recommendations for
initiating and titrating therapy according to individual
patient profiles. In most countries, the usual recommended
starting dose of CRESTOR is 10 mg. The 40 mg dose should
only be used in patients who have not achieved their LDL-C
goal with the 20 mg dose of CRESTOR.
Notes to Editors:
(i) ASTEROID (A Study To Evaluate the Effect of
Rosuvastatin On Intravascular Ultrasound-Derived Coronary
Atheroma Burden) was a 104-week, open label, single-arm,
blinded endpoint study designed to study the effect of
CRESTOR 40 mg in 507 patients who had undergone coronary
angiography and who had evidence of coronary artery disease
(CAD).
Key findings from ASTEROID include:
-- CRESTOR brought about a 0.79% (median) reduction in
percent atheroma
volume in the entire target vessel (p<0.001) -
first primary endpoint
-- CRESTOR brought about a 9.1% (median) reduction in
total atheroma
volume in the most diseased 10 mm segment of the
target vessel
(p<0.001) - second primary endpoint
-- CRESTOR brought about a 6.8% (median) reduction in
total atheroma
volume in the entire target vessel (p<0.001) -
secondary endpoint
-- These changes were associated with a 53% reduction
in LDL-C (p<0.001)
and a 15% increase in HDL-C (p<0.001)
(ii) ORION (Outcome of Rosuvastatin Treatment on
Carotid Artery Atheroma: a Magnetic Resonance Imaging
ObservatioN) was the first study to use advanced, high
resolution MRI to investigate the effect of a statin -
CRESTOR - on the change in the composition of plaques in
the carotid artery wall. Forty-three (43) patients with
moderate hypercholesterolemia and established carotid
atherosclerosis were treated with either CRESTOR low dose
(5 mg) or high dose (40/80 mg) for two years.
About AstraZeneca
AstraZeneca is a major international healthcare
business engaged in the research, development, manufacture
and marketing of prescription pharmaceuticals and the
supply of healthcare services. It is one of the world's
leading pharmaceutical companies with healthcare sales of
US$26.47 billion and leading positions in sales of
gastrointestinal, cardiovascular, neuroscience,
respiratory, oncology and infection products. AstraZeneca
is listed in the Dow Jones Sustainability Index (Global) as
well as the FTSE4 Good Index. For more information about
AstraZeneca, please visit: http://www.astrazeneca.com
This press release has been made available on worldwide
press communication media for the benefit of correspondents
writing for the medical professional press. Differing
national legislation, codes of practice, medical practice
etc mean that you should contact your local AZ press office
to obtain information designed for use in your country. In
particular this press release has not been prepared for use
in the USA.
References
(1) Bonow, R, Smaha, L, Smith, S et al. The
International Burden of Cardiovascular Disease: Responding
to the Emerging Global Epidemic. Circulation 2002;106:1602
(2) Nissen SE, Nicholls SJ, Sipahi I et al. Effect of
very high-intensity statin therapy on regression of
coronary atherosclerosis: the ASTEROID trial. JAMA 2006
295:1556-65
(3) Schuster H. The GALAXY Program: an update on
studies investigating efficacy and tolerability of
rosuvastatin for reducing cardiovascular risk. Expert Rev
Cardiovasc Ther. 2007 5:177-93.
(4) Shepherd J, Hunninghake DB, Stein EA et al. Safety
of rosuvastatin. Am J Cardiol. 2004 94:882-8
(5) McAfee AT, Ming EE, Seeger JD et al. The
comparative safety of rosuvastatin: a retrospective matched
cohort study in over 48,000 initiators of statin therapy.
Pharmacoepidemiol Drug Saf. 2006 15:444-53
(6) Goettsch WG, Heintjes EM, Kastelein JJ et al.
Results from a rosuvastatin historical cohort study in more
than 45,000 Dutch statin users, a PHARMO study.
Pharmacoepidemiol Drug Saf. 2006 15:435-43.
For further information please visit:
http://www.AstraZenecaPressOffice.com
For more information, please contact:
Ben Strutt
Global PR Manager
Cardiovascular Therapy Area
Tel: +44-1625-230076
Mobile: +44-7919-565990
Email: ben.strutt@astrazeneca.com
2007'12.04.Tue
PartyGaming Plc ('PartyGaming' or the 'Company') - Cooperation With RTL Interactive
November 08, 2007
GIBRALTAR, Nov. 7 /Xinhua-PRNewswire/ -- PartyGaming,
the world's leading listed online gaming company, announces
that it has entered into an exclusive arrangement with RTL
interactive, a subsidiary of RTL Television in Germany and
part of the RTL Group, Europe's leading entertainment and
media network.
The popularity of poker in Germany has prompted RTL
interactive to launch a new German language website
dedicated to providing information and tips for its users
who enjoy playing the game. The RTL.de website already has
over six million unique users per month.
The new RTLPoker.de website will contain exclusive
advertorial links to PartyPoker.net, the world's leading
free online poker school. RTL interactive will promote
RTLPoker.de and the poker school at PartyPoker.net via the
RTL.de Network and the new services will also be promoted
via TV-spots on the leading privately held German
TV-station, RTL Television.
PartyGaming will operate the free poker school under
PartyPoker.net, including the technical and administrative
infrastructure, and will provide exclusive material for
RTLPoker.de.
Commenting on today's announcement, Mitch Garber,
PartyGaming's CEO said:
"We are thrilled to have been chosen by RTL
interactive to provide an online poker school to their
users. This is a hugely exciting opportunity for us to work
with the German internet division of Europe's leading
broadcaster. We look forward to building a long and
successful relationship between our two companies."
Editor's Notes
About RTL interactive GmbH:
RTL interactive is a subsidiary of RTL Television, the
most successful commercial TV-Broadcaster in Germany, and
part of RTL Group, the leading European entertainment
network. RTL Television has combined all interactive and
transaction-based businesses outside traditional
ad-financed free-TV under the brand of RTL interactive
GmbH, including: RTL Shop (Teleshopping), Universum Film
(DVD, video and film distribution), RTL Enterprises
(merchandising & licensing) and RTL Games
(Videogames).
Moreover, RTL interactive is responsible for the
business units Online (including Video on Demand and IPTV),
Mobile, Teletext and Media Services (telephone value-added
services). The Cologne-based company thus handles all of
RTL Group's diversification activities in Germany and
contributes significantly to the turnover and further
growth of the RTL family of channels.
For more information, please contact:
PartyGaming Plc
Peter Reynolds
Director of Investor Relations
Tel: +44(0)207-337-0100
John Shepherd
Director of Corporate Communications
Tel: +44(0)207-337-0100
Financial Dynamics
Edward Bridges, Juliet Clarke
Tel: +44(0)20-7831-3113
2007'12.04.Tue
Dr. Gyula Meleghy Named President, Tower Automotive International Operations
November 07, 2007
NOVI, Mich., Nov. 7 /Xinhua-PRNewswire/ -- Tower
Automotive today announced it has named Dr. Gyula Meleghy
to the newly created position of President, International
Operations. Effective immediately, Meleghy will lead all
Tower businesses in Europe, South America and Asia. He
will report directly to Mark Malcolm, President and CEO of
Tower.
"Gyula's broad business experience and his passion
for our customers, colleagues, and products make him the
perfect choice to lead our International Operations into
the future," said Malcolm.
Said Dr. Meleghy, "In our highly competitive and
rapidly changing industry, Tower is dedicated to achieving
long-term profitable growth through customer satisfaction.
Our local and cross-regional capabilities make us a
formidable global force. I could not be more excited about
Tower's direction and I welcome the opportunity to
contribute to an even brighter future for Tower customers
and team members."
President of Tower's Asia operations since July 2006,
Dr. Gyula Meleghy has more than 20 years of technical and
commercial experience in the automotive supplier industry.
Previously, he held senior leadership positions at Tower
including President, Europe and South America; Chief
Operating Officer Europe; and Vice President, Europe
Customer Service.
Before joining Tower Automotive in 2000, Meleghy was
president of The Dr. Meleghy Group, an automotive supplier
based in Bergisch Gladbach, Germany. Dr. Meleghy holds a
Ph.D. in business from the University of Cologne.
Simultaneously, Tower announced that Vincent Pairet,
President, Europe and South America since July 2006, is
leaving the company. "We thank Vincent Pairet for his
able leadership and wish him every success in his future
endeavors," Malcolm said.
About Tower Automotive
Tower Automotive, LLC, is a global designer and
producer of vehicle structural components and assemblies
used by automotive original equipment manufacturers,
including BMW, Chery, Chrysler, Daimler, Fiat, Ford,
General Motors, Honda, Hyundai/Kia, Nissan, Toyota,
Volkswagen and Volvo. Products include body structures and
assemblies, lower vehicle frames and structures, and
suspension components. Additional company information is
available at http://www.towerautomotive.com .
For more information, please contact:
Joe Kirik
Tower Automotive, LLC
Tel: +1-248-675-6253
+1-248-649-8900
Email: kirik.joe@towerautomotive.com
2007'12.04.Tue
Launch of Edumax.com Opens Doors of Free Online Learning
November 07, 2007
TORONTO, Nov. 7 /Xinhua-PRNewswire/ -- Traditional
classrooms and chalkboards are no longer required to
receive a valuable education. Edumax (
http://www.edumax.com ) provides free virtual classrooms on
a variety of subjects, making education accessible,
user-friendly, and affordable.
Edumax.com is spreading the word about its online
educational site, which offers a series of easy to
understand lessons prepared by experts. With subjects
ranging from personal development to computer programming,
Edumax's lessons are for all educational levels and
learning styles. Driven by their passion to help people
succeed, Edumax CEO Armen Oulikhanian and President Wai
Leung have tapped their professional specialties to create
Edumax.com. The site is poised to become the ultimate
online destination providing free learning to the world.
These lessons provide step-by-step guides, enabling
students to understand the topics from the most basic
concept to advanced theories. Whether the student needs to
understand Internet basics or develop a database, with
Edumax.com students learn at their own pace and receive the
entire education at no cost.
Edumax offers twenty-five relevant subjects and
utilizes tutorials, forums, and the latest online learning
techniques to maximize each student's educational
experience.
Features of Edumax.com include unlimited, free access
to online courses and a forum to discuss topics, post
questions, and support the online learning experience.
Carefully screened and selected experts develop each lesson
with the student's success in mind.
With no strings attached or hidden costs, Edumax.com
chooses to offer the courses for free, because of the
owners' desire for people around the world -- regardless of
income -- to have access to education and self-improvement.
"We believe everyone in the world deserves the
chance to learn, build skills, and obtain better careers.
The world-wide accessibility of the Internet allows us an
unprecedented opportunity to bring education to anyone,
anywhere in the world for free," stated Armen
Oulikhanian, Edumax.com CEO. "By providing free
education to the world, we believe we can enrich lives and,
in turn, make the world a better place."
For more information, please contact:
Armen Oulikhanian, CEO
Spark Publishing, Inc.
Tel: +1-416-825-2973
Fax: +1-905-286-1724
2007'12.04.Tue
Atradius and Sinosure Sign Memorandum of Understanding
November 07, 2007
AMSTERDAM, Netherlands, Nov. 7 /Xinhua-PRNewswire/ --
Atradius Dutch State Business, the Dutch Export Credit
Agency, and Sinosure, the Export Credit Agency of China,
signed a Memorandum of Understanding with the aim of
supporting projects where both Dutch and Chinese exporters
are involved.
Exporters from different countries are increasingly
working together in projects around the world. Frequently,
these exporters need protection against the risk of
non-payment by their buyers or against political risks,
such as war or expropriation. This protection is provided
by export credit agencies. As per this Memorandum of
Understanding, Atradius and Sinosure will join forces to
provide streamlined protection for Chinese and Dutch
exporters who work together.
Johan Schrijver, Director of Atradius Dutch State
Business: "The arrangement with Sinosure may offer
great opportunities for Dutch exporters. Many of them
already have an international focus. Sourcing in China, and
still benefiting from our cover, has now been made easier.
This comes on top of our existing extensive cover
possibilities for Dutch export to China."
Atradius Dutch State Business has cooperation and
reinsurance agreements with export credit agencies from 25
countries, including all major exporting markets.
About Atradius
Atradius Dutch State Business is part of the Atradius
Group. Atradius is a leading credit insurer with total
revenues of around EUR 1.3 billion and a 24% share of the
world credit insurance market. It insures approximately EUR
400 billion of world trade annually against non-payment and
provides a comprehensive range of risk transfer, financing
and trade receivables management services. With 3,500 staff
and more than 90 offices in 40 countries, Atradius has
access to credit information on 45 million companies
world-wide and makes more than 12,000 credit limit
decisions daily. It is rated "A" by Standard
& Poor's (outlook stable) and "A2" by Moody's
(outlook stable).
http://www.atradius.com
For more information, please contact:
Carlinda Lengkeek
Atradius Corporate Communications
Tel: +31-20-553-2394
Cell: +31-62-220-7494
Email: carlinda.lengkeek@atradius.com
2007'12.04.Tue
IVT Releases BlueSoleil V6.0 Mobile Edition
November 07, 2007
BEIJING, Nov. 7 /Xinhua-PRNewswire/ -- IVT Corporation,
the Bluetooth technology specialist, announced at the
Bluetooth Developers Conference in Japan that BlueSoleil
V6.0 Mobile Edition has now been released.
In addition to the wide range of Bluetooth profiles
which BlueSoleil V5.0 supports, this latest version also
allows users to download their contacts from their
Bluetooth mobile phone to a PC/Laptop, or to edit a contact
on their PC/Laptop and then upload the new contact to a
mobile phone. They can also download SMS's from their
mobile phone and send SMS's via their mobile phone from
their PC/Laptop, and transfer files and images between
their phone and PC/Laptop. BlueSoleil Mobile Edition also
supports Auto Dial Up Networking, allowing a PC/Laptop to
connect to the internet via a mobile phone. All these
features can be handled from a simple single user
interface.
"BlueSoleil Mobile Edition enables connectivity of
voice and data between mobile phones and PCs, and increases
usability of end-users, who can take advantage of the big
screen and convenient keyboard of computer to complete a
task that is not available on mobile phone. Mobile
operators can also benefit from Auto Dial-up Networking to
promote its data service without additional cost of using
PC card" said Alan Buckley, IVT Executive Technical
Director. BlueSoleil Mobile edition supports Bluetooth
enabled mobile phones from the world's top mobile phone
vendors, such as Nokia, Samsung, Motorola, Sony Ericsson
and LG.
BlueSoleil V6.0 Mobile Edition was developed upon
version V5.0, which supports a dual user interface: Windows
Vista style embedding the BlueSoleil functionality into
Explorer; and traditional BlueSoleil style presenting your
Bluetooth enabled PC/laptop as a sun icon with its
peripherals presented as icons around the sun. BlueSoleil
has a current licensed user base of over 22 million users.
IVT has recently licensed BlueSoleil Mobile Edition to
Lenovo for its flagship desktops PC with customized GUI
About IVT
IVT is a world leader in providing Bluetooth technology
and Fixed-Mobile Convergence (FMC) solutions. Since 1999,
IVT has continually developed leading edge products
including Bluetooth host stack and profiles source code,
conformance & interoperability testers, application
software for PCs, laptops, PDAs, Personal Navigation
Devices (PND), Smart phones, and a variety of patent
protected turnkey solutions, such as Bluetooth CTP
(Cordless Telephony Profile) enabled GSM phones, and
ADSL/PSTN/SIP/UMA Access Points. IVT is currently working
with a number of global operators on FMC trials. IVT's
Bluetooth PC software (BlueSoleil) has accumulated orders
of over 22 million copies. IVT also provides customization
design services, interoperability testing services, and
Bluetooth BQB qualification support via its
Interoperability Testing Center (iotc@ivtcorporation.com).
IVT's products and solutions are being widely adopted by
world industry leaders such as Lenovo, HP, British Telecom,
Motorola, Samsung, LG, Ricoh, Panasonic, Mitac, Wistron,
etc.
For more information, please contact:
Alan Buckley
Executive Technical Director
IVT Corporation
Tel: +353-1-8105015
Mob: +353-86-8110824
Email: alan.buckley@bluesoleil.com
Web: http://www.ivtcorporation.com
http://www.bluesoleil.com
2007'12.04.Tue
Stora Enso Invests to Improve Energy Efficiency and Cost Leadership at Mills in Belgium and Germany
November 07, 2007
Group Takes Further Steps to Help to Mitigate Climate
Change
HELSINKI, Finland, Nov. 7 /Xinhua-PRNewswire/ -- Stora
Enso is improving energy efficiency through investments
totalling EUR 260 million at Langerbrugge Mill in Belgium
and Maxau Mill in Germany. Both projects are scheduled to
be completed in the second quarter of 2010.
"These investment projects will significantly
reduce fuel costs while increasing the use of bio energy at
each mill. Through these investments, the Group will reduce
its annual carbon dioxide emissions by some 105 000 tonnes.
Langerbrugge Mill produces newsprint and uncoated magazine
paper entirely from recovered paper and is located close to
its customers. Production at Maxau Mill, which is also near
its customers, thereby reducing its logistics costs, is
based mainly on recovered paper," says Juha Vanhainen,
EVP Newsprint.
At Langerbrugge Mill and at Maxau Mill a new multifuel
Circulating Fluidised Bed (CFB) boiler will be installed in
the existing power plant. The aim of the investments is to
enable combined heat and power generation with a
competitive fuel mix. Once completed, these installations
will increase the self-sufficiency in electricity of the
two mills.
About Stora Enso
Stora Enso is an integrated paper, packaging and forest
products company producing publication and fine paper,
packaging board and wood products -- all areas in which the
Group is a global market leader. Stora Enso's sales totalled
EUR 14.6 billion in 2006. The Group has some 44 000
employees in more than 40 countries on five continents.
Stora Enso has an annual production capacity of 16.5
million tonnes of paper and board and 7.4 million cubic
metres of sawn wood products, including 3.2 million cubic
metres of value-added products. Stora Enso's shares are
listed in Helsinki, Stockholm and New York.
For further information, please contact:
Langerbrugge investment:
Juha Vanhainen
EVP Newsprint
Tel: +358-2046-21343
Maxau investment:
Hannu Alalauri
EVP Magazine Paper
Tel: +358-2046-21201
Kari Vainio
EVP, Corporate Communications
Tel: +44-7799-348-197
Keith B. Russell
SVP, Investor Relations
Tel: +44-7775-788659
Ulla Paajanen-Sainio
Vice President
Investor Relations and Financial Communications
Tel: +358-2046-21242
Web: http://www.storaenso.com/
http://www.storaenso.com/investors
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