In a continuing effort to provide the best wireless service for local residents in Bradford County PA, Verizon Wireless has expanded its network with a new cell site in New Albany. The new site increases coverage and capacity in the town of New Albany and along Route 220.
This network expansion is part of the company's aggressive multi-billion dollar network investment each year (more than $1 billion every 90 days) to stay ahead of the growing demand for Verizon Wireless voice and data services. Verizon Wireless has invested more than $30 billion -- on average, $5 billion every year since the company was formed six years ago -- to increase coverage and capacity, and to offer customers the most reliable service available in the nation, including wireless data services such as picture messaging, text messaging, and wireless Internet access. NationalAccess, the company's national high-speed wireless data network, provides wireless Internet access at speeds between 60 and 80 kbps, with bursts up to 144 kbps.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2006 as the company added 2.3 million net new customers. Verizon Wireless is the leader in wireless customer loyalty, posting a record-breaking low customer turnover rate of 1.1% in the fourth quarter, well below the rate reported by the other major wireless carriers.
The company's 'nation's most reliable wireless network' reputation is based on network studies performed by real-life test men and test women throughout the country who inspired the "Can you hear me now" national advertising campaign. These engineers drive nearly 100 specially equipped vehicles over 240,000 miles on average each quarter on Interstate, US and state highways, as well as major roads and surface streets. Test vehicles are equipped with computers that automatically make more than 750,000 voice call attempts and more than four million data tests annually on the Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving more than 59 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, NJ, with 65,000 employees nationwide. The company is a joint venture of Verizon Communications (NYSE: VZ - News) and Vodafone (NYSE and LSE: VOD - News News). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
Source: Verizon Wireless
Saturday, February 24, 2007
Remote Dynamics, Inc. Announces New Chief Executive Officer and New Senior Vice President of Operations
Remote Dynamics, Inc., a leading provider of telematics-based management solutions for commercial fleets, today announced the appointments of Gary J. Hallgren to the position of Chief Executive Officer and Greg L. Jones to the position of Senior Vice President of Operations.
Mr. Hallgren brings to Remote Dynamics more than 15 years of management experience in emerging software and technology companies including more than 6 years at the senior executive level. Mr. Hallgren's experience includes leading sales, marketing and technology development efforts for two early stage organizations and driving revenue growth and operational efficiencies in an emerging growth environment.
Mr. Hallgren last served as Vice President, Technical Services, for Spinitar, a privately held systems integration firm. From 2002-2005, Mr. Hallgren served as President and Chief Executive Officer of WirelessCar North America, Inc., a joint venture of Volvo, Ericsson and Brainheart Capital which provided wireless middleware and billing services to the telematics marketplace and whose operations were ultimately acquired. From 2000-2002, Mr. Hallgren served as Chief Operating Officer of WirelessCar North America, Inc. Prior to WirelessCar, Mr. Hallgren was Vice President of Operations for Volvo Technology of America which provided telematics solutions for Volvo cars, trucks and marine products. Mr. Hallgren earned his Bachelor of Civil Engineering from the University of Minnesota, Institute of Technology.
Mr. Jones brings to Remote Dynamics more than 15 years of experience in technology, development and operations. Encompassing all aspects of the product development life cycle, Mr. Jones has held multiple positions responsible for needs assessment, product specification and system design, engineering and development, and operations. Mr. Jones' experience includes more than 7 years of cellular and telematics industry experience and more than 6 years working with geographically dispersed development teams based in both Europe and North America.
Mr. Jones last served as Senior Director of Software Engineering for Aeris.net, a leading provider of wireless mobile to mobile solutions to the telematics industry. In that role, he was responsible for the realization of Aeris's new high availability operations center and the CDMA and GSM packet data implementations. From 2000-2004, Mr. Jones served as Director of Technology and Development of WirelessCar North America, Inc., bringing to market wireless communications and billing solutions. Prior to WirelessCar, Mr. Jones served as Director of Internet Development at Liberty Enterprises, where he led a team that developed Liberty's hosted Internet banking solution for credit unions. In this role he was also responsible for technical evaluation of mergers and acquisitions.
"Both Gary and Greg have strong track records of building highly successful organizations in software and other high-tech environments," said David Walters, Chairman of the Board. "Their skill sets fit perfectly with our vision of expanding growth opportunities in the mobile resource management marketplace."
About Remote Dynamics, Inc.: Remote Dynamics, Inc. markets, sells and supports state-of-the-art fleet management solutions that contribute to higher customer revenues, enhanced operator efficiency and improved cost control. Combining the technologies of the global positioning system (GPS) and wireless vehicle telematics with supply chain management, the company's solutions improve mobile worker productivity through real-time position and route reporting as well as exception-based reporting that analyzes mobile workforce inefficiencies for operational optimization. The company is based in Plano, Texas. More information about Remote Dynamics is available online at http://www.remotedynamics.com.
Legal notice to investors: Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "expects," "believes," "anticipates" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements generally involve known and unknown risks, uncertainties and other facts, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: ability to successfully expand sales and marketing presence to additional metropolitan areas; ability to commercially introduce a GPRS-capable mobile unit; ability to obtain certification of GPRS-based products with wireless carriers; acceptance of new product offerings; ability to achieve sales projections; ability to achieve and maintain margins during periods of rapid expansion; availability of capital to fund expansion; market conditions; general economic and business conditions; business abilities and judgment of management and personnel; changes in business strategy and competition. For a listing of risks applicable to the future prospects of the company, please refer to the reports filed with the SEC, such as recent 10-K and 10-Q Reports.
"Remote Dynamics" is a trademark and service mark of Remote Dynamics, Inc.
Contact:
Remote Dynamics, Inc., Plano
Gary J. Hallgren, 972-330-4028
Chief Executive Officer
www.remotedynamics.com
Source: Remote Dynamics, Inc.
Mr. Hallgren brings to Remote Dynamics more than 15 years of management experience in emerging software and technology companies including more than 6 years at the senior executive level. Mr. Hallgren's experience includes leading sales, marketing and technology development efforts for two early stage organizations and driving revenue growth and operational efficiencies in an emerging growth environment.
Mr. Hallgren last served as Vice President, Technical Services, for Spinitar, a privately held systems integration firm. From 2002-2005, Mr. Hallgren served as President and Chief Executive Officer of WirelessCar North America, Inc., a joint venture of Volvo, Ericsson and Brainheart Capital which provided wireless middleware and billing services to the telematics marketplace and whose operations were ultimately acquired. From 2000-2002, Mr. Hallgren served as Chief Operating Officer of WirelessCar North America, Inc. Prior to WirelessCar, Mr. Hallgren was Vice President of Operations for Volvo Technology of America which provided telematics solutions for Volvo cars, trucks and marine products. Mr. Hallgren earned his Bachelor of Civil Engineering from the University of Minnesota, Institute of Technology.
Mr. Jones brings to Remote Dynamics more than 15 years of experience in technology, development and operations. Encompassing all aspects of the product development life cycle, Mr. Jones has held multiple positions responsible for needs assessment, product specification and system design, engineering and development, and operations. Mr. Jones' experience includes more than 7 years of cellular and telematics industry experience and more than 6 years working with geographically dispersed development teams based in both Europe and North America.
Mr. Jones last served as Senior Director of Software Engineering for Aeris.net, a leading provider of wireless mobile to mobile solutions to the telematics industry. In that role, he was responsible for the realization of Aeris's new high availability operations center and the CDMA and GSM packet data implementations. From 2000-2004, Mr. Jones served as Director of Technology and Development of WirelessCar North America, Inc., bringing to market wireless communications and billing solutions. Prior to WirelessCar, Mr. Jones served as Director of Internet Development at Liberty Enterprises, where he led a team that developed Liberty's hosted Internet banking solution for credit unions. In this role he was also responsible for technical evaluation of mergers and acquisitions.
"Both Gary and Greg have strong track records of building highly successful organizations in software and other high-tech environments," said David Walters, Chairman of the Board. "Their skill sets fit perfectly with our vision of expanding growth opportunities in the mobile resource management marketplace."
About Remote Dynamics, Inc.: Remote Dynamics, Inc. markets, sells and supports state-of-the-art fleet management solutions that contribute to higher customer revenues, enhanced operator efficiency and improved cost control. Combining the technologies of the global positioning system (GPS) and wireless vehicle telematics with supply chain management, the company's solutions improve mobile worker productivity through real-time position and route reporting as well as exception-based reporting that analyzes mobile workforce inefficiencies for operational optimization. The company is based in Plano, Texas. More information about Remote Dynamics is available online at http://www.remotedynamics.com.
Legal notice to investors: Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "expects," "believes," "anticipates" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements generally involve known and unknown risks, uncertainties and other facts, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: ability to successfully expand sales and marketing presence to additional metropolitan areas; ability to commercially introduce a GPRS-capable mobile unit; ability to obtain certification of GPRS-based products with wireless carriers; acceptance of new product offerings; ability to achieve sales projections; ability to achieve and maintain margins during periods of rapid expansion; availability of capital to fund expansion; market conditions; general economic and business conditions; business abilities and judgment of management and personnel; changes in business strategy and competition. For a listing of risks applicable to the future prospects of the company, please refer to the reports filed with the SEC, such as recent 10-K and 10-Q Reports.
"Remote Dynamics" is a trademark and service mark of Remote Dynamics, Inc.
Contact:
Remote Dynamics, Inc., Plano
Gary J. Hallgren, 972-330-4028
Chief Executive Officer
www.remotedynamics.com
Source: Remote Dynamics, Inc.
Tougi Unveiled Private Label Program to Promote Business Globally
Nettel Holdings, Inc. Tougi Division Unveiled Private Label Program to Promote Business Globally
Tougi's private label program allows companies to experience the benefits of a private label product, customized just for them, without it costing them time or money.
The process is simple. We have selected a group of quality manufacturers who can private label their products. Through this group, Tougi can now offer a wide variety of high-quality products to the retail market. Retailers can simply choose the products they want to offer and the Tougi design team will create distinctive labels and attractive packaging for the products. Most of the products on the Tougi website will be available for private labeling.
The benefits of Tougi private labeling program:
-- Compete More Effectively, be part of a world wide brand
-- Create client loyalty and awareness
-- Product differentiation and name brand recognition
-- Pricing differentiation (higher profit margins)
Our private label program can benefit a wide range of resellers, ranging from large scale retailers, national distributors, value added resellers, or national dealers.
Tougi will also be launching a full range of its own private label products. We have been working with a few manufacturers to have their products private labeled with the Tougi brand name. These products range from Tougi power generators, Tougi sporting goods, consumer electronics, to Tougi portable MP3 players. The Tougi private label products will be less expensive than national brands. This will make the products extremely attractive to consumers, and will give Tougi retailers an edge in today's highly competitive business environment.
Tougi Global Clearinghouse has been extremely popular and we continue to develop strategies to stay unique and gain market share. The addition of private label to its marketing plan is an excellent way to promote the Tougi name, brand recognition, and build customer loyalty.
For pricing and availability information, please contact us at privatelabel@tougi.com
Contact:
Contact:
Investor Relations
503-336-5098
Source: Nettel Holdings, Inc.
Tougi's private label program allows companies to experience the benefits of a private label product, customized just for them, without it costing them time or money.
The process is simple. We have selected a group of quality manufacturers who can private label their products. Through this group, Tougi can now offer a wide variety of high-quality products to the retail market. Retailers can simply choose the products they want to offer and the Tougi design team will create distinctive labels and attractive packaging for the products. Most of the products on the Tougi website will be available for private labeling.
The benefits of Tougi private labeling program:
-- Compete More Effectively, be part of a world wide brand
-- Create client loyalty and awareness
-- Product differentiation and name brand recognition
-- Pricing differentiation (higher profit margins)
Our private label program can benefit a wide range of resellers, ranging from large scale retailers, national distributors, value added resellers, or national dealers.
Tougi will also be launching a full range of its own private label products. We have been working with a few manufacturers to have their products private labeled with the Tougi brand name. These products range from Tougi power generators, Tougi sporting goods, consumer electronics, to Tougi portable MP3 players. The Tougi private label products will be less expensive than national brands. This will make the products extremely attractive to consumers, and will give Tougi retailers an edge in today's highly competitive business environment.
Tougi Global Clearinghouse has been extremely popular and we continue to develop strategies to stay unique and gain market share. The addition of private label to its marketing plan is an excellent way to promote the Tougi name, brand recognition, and build customer loyalty.
For pricing and availability information, please contact us at privatelabel@tougi.com
Contact:
Contact:
Investor Relations
503-336-5098
Source: Nettel Holdings, Inc.
Companies to Cross-Market Websites, Directory and Web Services to Small Businesses Nationwide
Web.com, Inc., a leading destination for websites and web services, and YP Corp., a leading provider of nationwide Internet Yellow Pages and related services, today announced a strategic partnership to cross-market their respective services to new and existing customers nationwide. Specific financial terms of the multi-year deal are not available.
"We have been impressed with YP's new business model and our partnership enables Web.com to expand its national reach into the small business market on a local level,'' stated Jeff Stibel, President and CEO, Web.com. ``The marriage of websites and web services with online directory listings is a strong value proposition that allows small business owners to be heard both locally and nationally.''
``We are focused on providing our customers with services that improve and expand their businesses. Through our partnership with Web.com, we are excited to offer a complete suite of powerful online services to help customers establish, market and maintain a strong Web presence for their business,'' said Daniel L. Coury, Sr., CEO of YP Corp. ``We view these accretive web services as highly relevant to our customer base.''
As part of the partnership, Web.com will provide comprehensive web sites to the YP.com customer base. In addition, certain new Web.com customers will receive a basic enhanced listing within the YP.com directory structure and will be able to receive additional offers from YP.com. Web.com and YP.com will work together to actively market and sell their complementary services.
About YP Corp.
YP Corp. is America's Local Online Yellow Pages(tm) and offers businesses a simple and affordable way of creating a web presence and marketing their products and services to local audiences online. The Company offers an Internet Advertising Package, which provides advertisers preferred placement in yellow page search results and their own Mini Webpage(tm) where they can provide potential customers with details about their products and services.
About Web.com
Web.com, Inc. (NasdaqGM:WWWW - News), is a leading destination for the simplest, yet most powerful solutions for websites and web services. Web.com offers do-it-yourself and professional website design, website hosting, ecommerce, web marketing and email. Since 1995, Web.com has been helping individuals and small businesses leverage the power of the Internet to build a web presence. More than 4 million websites have been built using Web.com's proprietary tools, services and patented technology. For more information on the company, please visit http://www.web.com or call 1-800-WEB-HOST.
Forward-Looking Statements
Except for the historical information contained in this press release, statements in this press release may be considered forward-looking statements. These forward-looking statements include, but are not limited to, Web.com's ability to expand into local business markets. Forward-looking statements are also identified by words such as ``anticipates,'' ``expects,'' ``intends,'' ``plans,'' ``predicts,'' ``believes,'' ``seeks,'' ``estimates,'' ``may,'' ``will,'' ``should,'' ``would,'' ``could,'' ``potential,'' ``continue,'' similar expressions, and variations or negatives of these words. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on Web.com's current expectations, estimates, projections, beliefs and assumptions. These forward-looking statements speak only as of the date hereof and are based upon the information available to the Company at this time. Such information is subject to change, and the Company will not necessarily inform you of such changes. These statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, the Company's actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors. Factors which could affect these forward-looking statements, and Web.com's business, include but are not limited to the ability of the Company to expand its customer base as planned and customer acceptance of new products and services. Certain of these and other risks associated with Web.com's business are discussed in more detail in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, its Quarterly Reports and Transition Report on Form 10-Q and its Current Reports on Form 8-K, and its most recent proxy statement. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not undertake to update its forward-looking statements.
Contact:
Web.com
Peter Delgrosso
404-260-2500
investor@corp.web.com
YP Corp.
John Evans
480-324-2580
jevans@ypcorp.com
Source: Web.com, Inc.
"We have been impressed with YP's new business model and our partnership enables Web.com to expand its national reach into the small business market on a local level,'' stated Jeff Stibel, President and CEO, Web.com. ``The marriage of websites and web services with online directory listings is a strong value proposition that allows small business owners to be heard both locally and nationally.''
``We are focused on providing our customers with services that improve and expand their businesses. Through our partnership with Web.com, we are excited to offer a complete suite of powerful online services to help customers establish, market and maintain a strong Web presence for their business,'' said Daniel L. Coury, Sr., CEO of YP Corp. ``We view these accretive web services as highly relevant to our customer base.''
As part of the partnership, Web.com will provide comprehensive web sites to the YP.com customer base. In addition, certain new Web.com customers will receive a basic enhanced listing within the YP.com directory structure and will be able to receive additional offers from YP.com. Web.com and YP.com will work together to actively market and sell their complementary services.
About YP Corp.
YP Corp. is America's Local Online Yellow Pages(tm) and offers businesses a simple and affordable way of creating a web presence and marketing their products and services to local audiences online. The Company offers an Internet Advertising Package, which provides advertisers preferred placement in yellow page search results and their own Mini Webpage(tm) where they can provide potential customers with details about their products and services.
About Web.com
Web.com, Inc. (NasdaqGM:WWWW - News), is a leading destination for the simplest, yet most powerful solutions for websites and web services. Web.com offers do-it-yourself and professional website design, website hosting, ecommerce, web marketing and email. Since 1995, Web.com has been helping individuals and small businesses leverage the power of the Internet to build a web presence. More than 4 million websites have been built using Web.com's proprietary tools, services and patented technology. For more information on the company, please visit http://www.web.com or call 1-800-WEB-HOST.
Forward-Looking Statements
Except for the historical information contained in this press release, statements in this press release may be considered forward-looking statements. These forward-looking statements include, but are not limited to, Web.com's ability to expand into local business markets. Forward-looking statements are also identified by words such as ``anticipates,'' ``expects,'' ``intends,'' ``plans,'' ``predicts,'' ``believes,'' ``seeks,'' ``estimates,'' ``may,'' ``will,'' ``should,'' ``would,'' ``could,'' ``potential,'' ``continue,'' similar expressions, and variations or negatives of these words. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on Web.com's current expectations, estimates, projections, beliefs and assumptions. These forward-looking statements speak only as of the date hereof and are based upon the information available to the Company at this time. Such information is subject to change, and the Company will not necessarily inform you of such changes. These statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, the Company's actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors. Factors which could affect these forward-looking statements, and Web.com's business, include but are not limited to the ability of the Company to expand its customer base as planned and customer acceptance of new products and services. Certain of these and other risks associated with Web.com's business are discussed in more detail in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, its Quarterly Reports and Transition Report on Form 10-Q and its Current Reports on Form 8-K, and its most recent proxy statement. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not undertake to update its forward-looking statements.
Contact:
Web.com
Peter Delgrosso
404-260-2500
investor@corp.web.com
YP Corp.
John Evans
480-324-2580
jevans@ypcorp.com
Source: Web.com, Inc.
Cisco and Apple to Share iPhone Trademark: What About iPhone.com?
Carl Howe (Blackfriars Communications) submits: Both the Wall Street Journal and the New York Times reported yesterday that Apple (NasdaqGS: AAPL) and Cisco (NasdaqGS: CSCO) have come to an agreement to share the iPhone name. Neither company disclosed terms, but overall, the consensus seems to be that both companies got what they wanted. We assume the lawyers have been sent home, and everyone is happy.
Now, we believe that a good round of Kumbaya beats going to court every day of the week. But we also believe that Cisco and Apple should think a little bit about Internet marketing as well. Using the extensive resources available to us here, we took the liberty of researching where iPhone.com might take us on the Internet. It turns out that the domain name was registered via GoDaddy.com, and you can imagine our surprise when we typed iphone.com into our browser and arrived at the Nuvio Web site, a company that sells Voice Over IP [VOIP] services. Now given that Cisco's iPhone is a device that uses VOIP services, there is clearly an opportunity for some confusion here, especially since Nuvio bills itself as "The Internet Phone Company." Perhaps they shouldn't have sent the lawyers home quite so soon after all.
P.S. Cisco does have iPhone.net registered, so at least someone there thought a bit about the Internet branding before this dispute started.
SeekingAlpha
Now, we believe that a good round of Kumbaya beats going to court every day of the week. But we also believe that Cisco and Apple should think a little bit about Internet marketing as well. Using the extensive resources available to us here, we took the liberty of researching where iPhone.com might take us on the Internet. It turns out that the domain name was registered via GoDaddy.com, and you can imagine our surprise when we typed iphone.com into our browser and arrived at the Nuvio Web site, a company that sells Voice Over IP [VOIP] services. Now given that Cisco's iPhone is a device that uses VOIP services, there is clearly an opportunity for some confusion here, especially since Nuvio bills itself as "The Internet Phone Company." Perhaps they shouldn't have sent the lawyers home quite so soon after all.
P.S. Cisco does have iPhone.net registered, so at least someone there thought a bit about the Internet branding before this dispute started.
SeekingAlpha
Extreme Networks Gets Delisting Notice
Computer networking equipment maker Extreme Networks Inc. said Thursday it received another delisting notice from the Nasdaq Stock Market because it has not filed its financial results on time.
Extreme has delayed filing results with the Securities and Exchange Commission for the quarters ended Oct. 1 and Dec. 31 and its annual report for the fiscal year ended July 2, 2006 because it is reviewing its past stock-option granting practices.
The company said last month it expects to restate financial results to correct probable accounting errors related to stock option grants. Extreme said a special committee reached a preliminary conclusion that some dates registered for stock option grants do not match the actual dates of the respective awards.
The company said it will file the reports "as soon as practicable." Extreme faces a March 21 deadline to file the delinquent reports, but has asked the Nasdaq for an extension beyond that date.
At least 200 companies are either under investigation by regulators or have started internal probes into the practice of backdating, which sets the date of the option at the stock's lowest point in a given period, artificially inflating the value of the award. The practice is not illegal, but it must be properly accounted for.
Shares of Extreme were unchanged at $4.63 in morning trading on the Nasdaq Stock Market.
AP
Extreme has delayed filing results with the Securities and Exchange Commission for the quarters ended Oct. 1 and Dec. 31 and its annual report for the fiscal year ended July 2, 2006 because it is reviewing its past stock-option granting practices.
The company said last month it expects to restate financial results to correct probable accounting errors related to stock option grants. Extreme said a special committee reached a preliminary conclusion that some dates registered for stock option grants do not match the actual dates of the respective awards.
The company said it will file the reports "as soon as practicable." Extreme faces a March 21 deadline to file the delinquent reports, but has asked the Nasdaq for an extension beyond that date.
At least 200 companies are either under investigation by regulators or have started internal probes into the practice of backdating, which sets the date of the option at the stock's lowest point in a given period, artificially inflating the value of the award. The practice is not illegal, but it must be properly accounted for.
Shares of Extreme were unchanged at $4.63 in morning trading on the Nasdaq Stock Market.
AP
Castelle to Exhibit its Network Fax Servers at HIMSS07 in New Orleans
Castelle®, a leader in 'all-in-one' network fax solutions for the business and enterprise markets, today announced that it will be participating as an exhibitor at the 2007 Annual HIMSS Conference & Exhibition, February 25 - March 1, at the Ernest N. Morial Convention Center in New Orleans. Recognized as one of the premier conferences in the healthcare industry, HIMSS07 brings together healthcare professionals across the globe.
With the transition from paper to digital records continuing to gain national attention and increased acceptance in healthcare, Castelle will be demonstrating its FaxPress(TM) family of network fax servers. FaxPress improves productivity and reduces communication costs for professionals in the healthcare industry, and can be configured to assist organizations in satisfying HIPAA (Health Insurance Portability and Accountability Act) regulations. Physicians and their staff are able to communicate quickly and efficiently between offices and hospitals by automatically faxing orders and prescriptions to pharmacies, sending test results, and securely routing critical information concerning medications and patient histories.
"We look forward to presenting our family of network fax servers at this year's HIMSS conference," said Scott McDonald, President and CEO of Castelle. "FaxPress allows users to send and receive faxes directly from their desktop while maintaining the security and privacy of patients' health records. Castelle's all-in-one approach to network faxing continues to be widely accepted by customers in the healthcare industry, and this event is the ideal environment for us to meet with customers, partners and prospects looking for an easy-to-use fax solution."
The HIMSS annual conference is expected to attract approximately 24,000 attendees, ranking it as one of the largest healthcare IT and management systems conference in the world. Attendees who participate in this year's conference can select from more than 200 education sessions and networking events, in addition to visiting the exhibits, new product pavilions and other innovations on the exhibit floor. For more information on the event, visit the HIMSS07 website at www.himss07.org.
About HIMSS
The Healthcare Information and Management Systems Society (HIMSS) is the healthcare industry's membership organization exclusively focused on providing leadership for the optimal use of healthcare information technology (IT) and management systems for the betterment of healthcare. Founded in 1961 with offices in Chicago, Washington D.C., and other locations across the country, HIMSS represents more than 20,000 individual members and over 300 corporate members that collectively represent organizations employing millions of people. HIMSS frames and leads healthcare public policy and industry practices through its advocacy, educational and professional development initiatives designed to promote information and management systems' contributions to ensuring quality patient care.
About Castelle
Castelle (Nasdaq:CSTL - News), a market leader in 'all-in-one' network fax solutions for business and enterprise, offers organizations every possible network fax option: desktop faxing, production faxing, fax and email integration, workflow application integration, and tools for developing custom fax applications. FaxPress(TM), FaxPress Premier(TM) and FaxPress Enterprise(TM) network fax servers include the FaxPress or FaxPress Plus(TM) software suite that enables administrators and users to perform functions such as managing fax queues, creating reports, and viewing fax archives.
Castelle products are designed to be easy to use and maintain, and provide an economical way for companies to share resources over the network. Castelle was founded in 1987 and is headquartered in Morgan Hill, California. Its products are available through a worldwide network of distributors, resellers, and online retailers. Visit Castelle online at www.castelle.com.
FaxPress(TM), FaxPress Premier(TM), FaxPress Enterprise(TM) and FaxPress Plus(TM) are trademarks of Castelle. All other trademarks are the property of their respective owners.
If you would like to be added to Castelle's investor email list, please contact Karin Reak at kreak@castelle.com.
Forward-Looking Statements
This press release may contain forward-looking statements. These statements are subject to risks and uncertainties. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements as contained in our reports to the Securities and Exchange Commission, including our Forms 10-Q and 10-K. The Company assumes no obligation to update the forward-looking information.
Contact:
Castelle
Scott C. McDonald, 408-852-8009
Fax: 408-852-8109
President & Chief Executive Officer
smcdonald@castelle.com
Karin Reak, 408-852-8034
Fax: 408-852-8134
Director of Marketing
kreak@castelle.com
Source: Castelle
With the transition from paper to digital records continuing to gain national attention and increased acceptance in healthcare, Castelle will be demonstrating its FaxPress(TM) family of network fax servers. FaxPress improves productivity and reduces communication costs for professionals in the healthcare industry, and can be configured to assist organizations in satisfying HIPAA (Health Insurance Portability and Accountability Act) regulations. Physicians and their staff are able to communicate quickly and efficiently between offices and hospitals by automatically faxing orders and prescriptions to pharmacies, sending test results, and securely routing critical information concerning medications and patient histories.
"We look forward to presenting our family of network fax servers at this year's HIMSS conference," said Scott McDonald, President and CEO of Castelle. "FaxPress allows users to send and receive faxes directly from their desktop while maintaining the security and privacy of patients' health records. Castelle's all-in-one approach to network faxing continues to be widely accepted by customers in the healthcare industry, and this event is the ideal environment for us to meet with customers, partners and prospects looking for an easy-to-use fax solution."
The HIMSS annual conference is expected to attract approximately 24,000 attendees, ranking it as one of the largest healthcare IT and management systems conference in the world. Attendees who participate in this year's conference can select from more than 200 education sessions and networking events, in addition to visiting the exhibits, new product pavilions and other innovations on the exhibit floor. For more information on the event, visit the HIMSS07 website at www.himss07.org.
About HIMSS
The Healthcare Information and Management Systems Society (HIMSS) is the healthcare industry's membership organization exclusively focused on providing leadership for the optimal use of healthcare information technology (IT) and management systems for the betterment of healthcare. Founded in 1961 with offices in Chicago, Washington D.C., and other locations across the country, HIMSS represents more than 20,000 individual members and over 300 corporate members that collectively represent organizations employing millions of people. HIMSS frames and leads healthcare public policy and industry practices through its advocacy, educational and professional development initiatives designed to promote information and management systems' contributions to ensuring quality patient care.
About Castelle
Castelle (Nasdaq:CSTL - News), a market leader in 'all-in-one' network fax solutions for business and enterprise, offers organizations every possible network fax option: desktop faxing, production faxing, fax and email integration, workflow application integration, and tools for developing custom fax applications. FaxPress(TM), FaxPress Premier(TM) and FaxPress Enterprise(TM) network fax servers include the FaxPress or FaxPress Plus(TM) software suite that enables administrators and users to perform functions such as managing fax queues, creating reports, and viewing fax archives.
Castelle products are designed to be easy to use and maintain, and provide an economical way for companies to share resources over the network. Castelle was founded in 1987 and is headquartered in Morgan Hill, California. Its products are available through a worldwide network of distributors, resellers, and online retailers. Visit Castelle online at www.castelle.com.
FaxPress(TM), FaxPress Premier(TM), FaxPress Enterprise(TM) and FaxPress Plus(TM) are trademarks of Castelle. All other trademarks are the property of their respective owners.
If you would like to be added to Castelle's investor email list, please contact Karin Reak at kreak@castelle.com.
Forward-Looking Statements
This press release may contain forward-looking statements. These statements are subject to risks and uncertainties. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements as contained in our reports to the Securities and Exchange Commission, including our Forms 10-Q and 10-K. The Company assumes no obligation to update the forward-looking information.
Contact:
Castelle
Scott C. McDonald, 408-852-8009
Fax: 408-852-8109
President & Chief Executive Officer
smcdonald@castelle.com
Karin Reak, 408-852-8034
Fax: 408-852-8134
Director of Marketing
kreak@castelle.com
Source: Castelle
Sprint Extends MPLS VPN End-to-End Service Level Agreements to Include Global Partner Networks
Sprint continues to build on the power of its MPLS VPN capabilities for U.S.-based and multinational corporations. Now, end-to-end MPLS VPN Service Level Agreements (SLAs) are extended across global partner networks, which help expand Sprint's Global MPLS VPN capabilities for business customers to 137 countries worldwide.
Today Sprint also announces its enhancement of the long-standing partnership with Orange Business Services by increasing the overall breadth of services to include IP/MPLS capabilities in additional areas worldwide, notably throughout Europe and Asia. Sprint end-to-end MPLS VPN SLAs now apply to network connectivity with Orange, as well as other similar global partners.
Sprint Global MPLS VPN service allows businesses to converge data, voice, and video on a single network platform. This scalable service also includes robust network security and redundancy measures, flexible access options, and integration with Sprint wireless services to provide businesses and their customers with dependable, high-performing access to their information and applications whenever and wherever they need it. Sprint was the first global service provider to receive Cisco's "IP VPN - Multiservice QoS" certification to support real-time voice and video traffic.
"We continue to grow our IP/MPLS business domestically and internationally, helping our customers plan for the future by enhancing the capabilities available to their businesses," said Dan Dooley, vice president of international markets for Sprint. "By extending end-to-end MPLS SLAs to include our partners, customers can count on the quality of MPLS service they've come to expect from Sprint everywhere across the global Sprint-owned and partner MPLS footprints. The new relationship with Orange Business Services further validates our commitment to take IP/MPLS network connectivity to wherever our customers are doing business."
"We are really pleased to be extending our global partnership with Sprint," said Mack Treece, president of the Americas, Orange Business Services. "Now multinational corporations can benefit even further from the unmatched global reach of the combined Sprint and Orange Business Services networks and our mutual commitment to deliver an outstanding customer experience."
In April 2006, Sprint introduced the industry's first standard end-to-end MPLS VPN SLAs on its wholly owned global network. End-to-end performance guarantees extend SLA coverage and reporting beyond the backbone network to include the local loop, covering service from customer router to customer router. The service level guarantees include an enhanced network availability SLA of up to 100%, standard end-to-end packet loss and jitter SLAs, and a standard end-to-end delay methodology encompassing Sprint's entire global backbone and partner networks.
As part of Sprint's ongoing global MPLS expansion, Sprint is working with regional and global service providers to augment Sprint's wholly owned capabilities through network-to-network interface (NNI) partnerships. This strategy includes establishing service agreements between the partner and the Sprint IP/MPLS backbone so customers can experience congestion-free connectivity with security, redundancy and quality of service. The first such agreement was announced in April 2006 with Rogers Communications in Canada through its business division, Rogers Business Solutions.
For additional information, contact Sprint Business sales at 1-800-370-6105 or visit www.sprint.com/business/products/products/MPLSVPN_tabA.html.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks serving 53.1 million customers at the end of 2006; industry-leading mobile data services; instant national and international walkie-talkie capabilities; and an award-winning and global Tier 1 Internet backbone. For more information, visit www.sprint.com.
Contact:
Sprint Nextel
Media:
Stephanie Greenwood, 913-794-3658
Stephanie.greenwood@sprint.com
Source: Sprint Nextel
Today Sprint also announces its enhancement of the long-standing partnership with Orange Business Services by increasing the overall breadth of services to include IP/MPLS capabilities in additional areas worldwide, notably throughout Europe and Asia. Sprint end-to-end MPLS VPN SLAs now apply to network connectivity with Orange, as well as other similar global partners.
Sprint Global MPLS VPN service allows businesses to converge data, voice, and video on a single network platform. This scalable service also includes robust network security and redundancy measures, flexible access options, and integration with Sprint wireless services to provide businesses and their customers with dependable, high-performing access to their information and applications whenever and wherever they need it. Sprint was the first global service provider to receive Cisco's "IP VPN - Multiservice QoS" certification to support real-time voice and video traffic.
"We continue to grow our IP/MPLS business domestically and internationally, helping our customers plan for the future by enhancing the capabilities available to their businesses," said Dan Dooley, vice president of international markets for Sprint. "By extending end-to-end MPLS SLAs to include our partners, customers can count on the quality of MPLS service they've come to expect from Sprint everywhere across the global Sprint-owned and partner MPLS footprints. The new relationship with Orange Business Services further validates our commitment to take IP/MPLS network connectivity to wherever our customers are doing business."
"We are really pleased to be extending our global partnership with Sprint," said Mack Treece, president of the Americas, Orange Business Services. "Now multinational corporations can benefit even further from the unmatched global reach of the combined Sprint and Orange Business Services networks and our mutual commitment to deliver an outstanding customer experience."
In April 2006, Sprint introduced the industry's first standard end-to-end MPLS VPN SLAs on its wholly owned global network. End-to-end performance guarantees extend SLA coverage and reporting beyond the backbone network to include the local loop, covering service from customer router to customer router. The service level guarantees include an enhanced network availability SLA of up to 100%, standard end-to-end packet loss and jitter SLAs, and a standard end-to-end delay methodology encompassing Sprint's entire global backbone and partner networks.
As part of Sprint's ongoing global MPLS expansion, Sprint is working with regional and global service providers to augment Sprint's wholly owned capabilities through network-to-network interface (NNI) partnerships. This strategy includes establishing service agreements between the partner and the Sprint IP/MPLS backbone so customers can experience congestion-free connectivity with security, redundancy and quality of service. The first such agreement was announced in April 2006 with Rogers Communications in Canada through its business division, Rogers Business Solutions.
For additional information, contact Sprint Business sales at 1-800-370-6105 or visit www.sprint.com/business/products/products/MPLSVPN_tabA.html.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two robust wireless networks serving 53.1 million customers at the end of 2006; industry-leading mobile data services; instant national and international walkie-talkie capabilities; and an award-winning and global Tier 1 Internet backbone. For more information, visit www.sprint.com.
Contact:
Sprint Nextel
Media:
Stephanie Greenwood, 913-794-3658
Stephanie.greenwood@sprint.com
Source: Sprint Nextel
Patent Covers Technologies Relating to Multiple Air Interfaces
Mobile Satellite Ventures LP ("MSV") announced today that it has been awarded U.S. Patent No. 7,181,161 by the U.S. Patent and Trademark Office. This is the nineteenth patent issued to MSV protecting the company's hybrid satellite-terrestrial system including Ancillary Terrestrial Component ("ATC") technology.
The "Multi-Band/Multi-Mode Satellite Radiotelephone Communications Systems and Methods" patent issued on February 20, 2007, addresses critical technologies of MSV's next-generation state-of-the-art satellite system currently under construction. Specifically, the patent describes how a satellite may be configured to support multiple air interfaces in order to enable a broad range of services to a broad range of user devices, including legacy and modern. According to the technical description, at least one air interface is based upon a terrestrial cellular/PCS air interface and feeder links that are used to transport data between the satellite and a satellite gateway are segmented into respective sub-bands so that different air interfaces are transported over different feeder link segments, facilitating the efficient processing of information and reduction of interference.
"This patent covers enabling technologies that may be deployed by a satellite to facilitate support of legacy and modern terminal equipment," explained Dr. Peter D. Karabinis, Senior Vice President and Chief Technical Officer at MSV and inventor of the patent. "We recognized the importance of such technologies and filed this patent early. The solutions claimed allow the system to continue to provide service to legacy equipment, as required, while at the same time facilitating state-of-the-art air interfaces that provide enhanced voice and data services via feature-rich, low-cost, light- weight and aesthetically appealing satellite/ATC user devices."
About SkyTerra Communications, Inc. and Mobile Satellite Ventures
MSV is developing a hybrid satellite-terrestrial communications network, which it expects will provide seamless, transparent and ubiquitous wireless coverage of the United States and Canada to conventional handsets. MSV holds the first FCC license to provide hybrid satellite-terrestrial services. MSV plans to launch two satellites for coverage of the United States and Canada, which are expected to be among the largest and most powerful commercial satellites ever built. When completed, the network is expected to support communications in a variety of areas including public safety, homeland security, aviation, transportation and entertainment, by providing a platform for interoperable, user-friendly and feature-rich voice and high-speed data services. MSV is majority owned and controlled by SkyTerra Communications, Inc. (OTC Bulletin Board: SKYT - News).
http://www.msvlp.com
Statement under the Private Securities Litigation Reform Act
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, which respect to plans described in this press release. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, proposed, potential and similar words. Such forward-looking statements are subject to uncertainties relating to the ability of SkyTerra and MSV to raise additional capital or consummate a strategic transaction, as well as the ability of SkyTerra and MSV to execute their business plan. We assume no obligation to update or supplement such forward-looking statements.
Source: Mobile Satellite Ventures LP
The "Multi-Band/Multi-Mode Satellite Radiotelephone Communications Systems and Methods" patent issued on February 20, 2007, addresses critical technologies of MSV's next-generation state-of-the-art satellite system currently under construction. Specifically, the patent describes how a satellite may be configured to support multiple air interfaces in order to enable a broad range of services to a broad range of user devices, including legacy and modern. According to the technical description, at least one air interface is based upon a terrestrial cellular/PCS air interface and feeder links that are used to transport data between the satellite and a satellite gateway are segmented into respective sub-bands so that different air interfaces are transported over different feeder link segments, facilitating the efficient processing of information and reduction of interference.
"This patent covers enabling technologies that may be deployed by a satellite to facilitate support of legacy and modern terminal equipment," explained Dr. Peter D. Karabinis, Senior Vice President and Chief Technical Officer at MSV and inventor of the patent. "We recognized the importance of such technologies and filed this patent early. The solutions claimed allow the system to continue to provide service to legacy equipment, as required, while at the same time facilitating state-of-the-art air interfaces that provide enhanced voice and data services via feature-rich, low-cost, light- weight and aesthetically appealing satellite/ATC user devices."
About SkyTerra Communications, Inc. and Mobile Satellite Ventures
MSV is developing a hybrid satellite-terrestrial communications network, which it expects will provide seamless, transparent and ubiquitous wireless coverage of the United States and Canada to conventional handsets. MSV holds the first FCC license to provide hybrid satellite-terrestrial services. MSV plans to launch two satellites for coverage of the United States and Canada, which are expected to be among the largest and most powerful commercial satellites ever built. When completed, the network is expected to support communications in a variety of areas including public safety, homeland security, aviation, transportation and entertainment, by providing a platform for interoperable, user-friendly and feature-rich voice and high-speed data services. MSV is majority owned and controlled by SkyTerra Communications, Inc. (OTC Bulletin Board: SKYT - News).
http://www.msvlp.com
Statement under the Private Securities Litigation Reform Act
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, which respect to plans described in this press release. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, proposed, potential and similar words. Such forward-looking statements are subject to uncertainties relating to the ability of SkyTerra and MSV to raise additional capital or consummate a strategic transaction, as well as the ability of SkyTerra and MSV to execute their business plan. We assume no obligation to update or supplement such forward-looking statements.
Source: Mobile Satellite Ventures LP
InPhonic Announces Financial Results for Fourth Quarter and Full Year 2006
- Reports Record Fourth Quarter and Full Year 2006 Results
- Signs Fifth Major Wireless Carrier to Residual Compensation Agreement
- Reaches Final Settlement with Attorney General's Office
InPhonic, Inc. a leading online seller of wireless services and products, today reported financial results for the fourth quarter and full year ended December 31, 2006.
"We are very pleased with our fourth quarter and full year results. In 2006, InPhonic made substantial progress in transitioning our business by putting in place residual-based compensation agreements with most of the major wireless carriers, improving our customer service experience and expanding our industry leading online distribution channel with high-quality partners such as Best Buy, Staples and Amazon," said InPhonic's Chairman and CEO David A. Steinberg. "For 2007, we are focused on continuing the strong operational momentum of this past year while maintaining strong revenue growth, further improving operating and contribution margins and generating sustainable positive operating cash flow."
Revenue was $120.3 million for the fourth quarter 2006, compared to $85.2 million for the fourth quarter 2005. Loss from continuing operations for the fourth quarter 2006 was ($3.4) million or ($0.09) per basic and diluted share compared to a loss from continuing operations of ($24.8) million for the fourth quarter of 2005 or ($0.70) per basic and diluted share. Excluding the impact of rebate settlement and related expenses and restructuring costs of $4.5 million, income from continuing operations for the fourth quarter 2006 would have been $1.1 million or $0.03 per basic and diluted share.
click here for more information
- Signs Fifth Major Wireless Carrier to Residual Compensation Agreement
- Reaches Final Settlement with Attorney General's Office
InPhonic, Inc. a leading online seller of wireless services and products, today reported financial results for the fourth quarter and full year ended December 31, 2006.
"We are very pleased with our fourth quarter and full year results. In 2006, InPhonic made substantial progress in transitioning our business by putting in place residual-based compensation agreements with most of the major wireless carriers, improving our customer service experience and expanding our industry leading online distribution channel with high-quality partners such as Best Buy, Staples and Amazon," said InPhonic's Chairman and CEO David A. Steinberg. "For 2007, we are focused on continuing the strong operational momentum of this past year while maintaining strong revenue growth, further improving operating and contribution margins and generating sustainable positive operating cash flow."
Revenue was $120.3 million for the fourth quarter 2006, compared to $85.2 million for the fourth quarter 2005. Loss from continuing operations for the fourth quarter 2006 was ($3.4) million or ($0.09) per basic and diluted share compared to a loss from continuing operations of ($24.8) million for the fourth quarter of 2005 or ($0.70) per basic and diluted share. Excluding the impact of rebate settlement and related expenses and restructuring costs of $4.5 million, income from continuing operations for the fourth quarter 2006 would have been $1.1 million or $0.03 per basic and diluted share.
click here for more information
Alternate Plans Proposed for Adirondack Northway Cell Service in New York
Four years ago, state officials approved a plan for cell phone service along the Adirondack Northway that never materialized, but two recent deaths have added urgency to solutions already on the drawing board and proposals for temporary cell towers on parked trucks.
The long-standing issue has landed in Gov. Eliot Spitzer's office, where top staff have been discussing it, said spokesman Marc Violette.
"These discussions are taking place aimed at assessing the potential for improving cell service while also keeping in mind the special nature of the environment through which the Northway passes," he said.
At issue is a nearly 50-mile dark zone along the four-lane highway through New York's northern mountains -- the main road from Albany to Montreal. Cell phone service cuts out around Exit 26 near Pottersville and resumes around Exit 35 as drivers leave the Adirondack Park below Plattsburgh.
The entire mountainous and sparsely populated 6-million acre park has only limited land-based cell phone service.
"I think there is consensus there should be cell coverage on that area of the Northway," said state Sen. Betty Little, some of whose constituents would get new wireless phone access as well. "You're going to have to put up taller towers."
In a letter to Spitzer last week, Little called for immediately putting temporary mobile cellular units at three rest areas on Interstate 87, suspending the Adirondack Park Agency's restrictions on tower height within the highway corridor, and either finding a cell company or using $10 million in state emergency funding to build permanent towers.
The Republican from Glens Falls cited "this outrageous threat to public safety" as the reason to act fast.
On Jan. 25, when temperatures fell below zero, Alfred Langner, 63, of Brooklyn, died of hypothermia in his car after it went off I-87 in North Hudson, about 90 miles north of Albany. He and his injured wife waited more than 24 hours for help when her cell phone couldn't get service.
About 20 miles farther north, a 60-year-old Canadian trucker died of a heart attack in a snowstorm Feb. 14 after his tractor-trailer went off the highway. His wife also was unable to phone for help and flagged down a passing motorist.
"It might not be complete, but it's better than what's there," Little said of bringing in three mobile towers immediately. "I'm not trying to change policy within the park," she added. "I'm just trying to change the height restriction on the Northway."
The tower policy of the APA, the state agency that regulates development in the Adirondacks, calls for avoiding mountaintops, putting new services on existing structures like water tanks or old towers and making them "substantially invisible." Structures above 40 feet require APA review.
Since 2000, the agency has approved 50 telecommunication tower projects, including a handful of new freestanding structures. There were 78 previously. New in 2005 was the 104-foot simulated white pine at Pilot Knob on the east side of Lake George, a Nextel Partners installation some environmentalists called "Frankenpine."
With a small tower now in Westport by Exit 31 and others in Schroon Lake that provide spotty coverage between Exits 26 and 28, the dark zones are getting smaller, APA spokesman Keith McKeever said.
"This agency has approved every telecommunications application that's ever been submitted," McKeever said. "Most have been modified to comply to local and state law within the park, but they've all been approved."
Environmentalists have consistently opposed high towers in the scenic mountains. "Obviously we believe that within 10 or 15 years at the outside all of these towers will be obsolete, that the only tamperproof communication available to us right now is satellite, and that properly developed it would solve a large number of the park's communications problems," said John Sheehan, spokesman for the Adirondack Council.
Sheehan said his organization might not object to some mobile cell towers for the remainder of this winter, when the immediate danger from exposure is greatest, as long as they are temporary and come with assurances of a better permanent solution. The plan approved by the APA four years ago -- a series of 33 cell towers connected by fiber optic cable, each tower 38 feet high -- remains the best option, he said.
That project was proposed by the state Department of Transportation, state police and Crown Communication, the company that has a 20-year contract to assist with wireless telecommunication structures on state-owned land.
However, the cell service provider that originally planned to join dropped out, and no other cell companies were attracted, said Jacqueline Phillips Murray, attorney for Crown. There are a half-dozen big and some smaller licensed cell service providers in New York, she said.
"Apparently they felt from a standpoint of numbers of customers it wouldn't necessarily be sustainable," said state police spokesman Lt. Glenn Miner. Meanwhile, troopers in December restored the old emergency callboxes that stand every two miles along 32 miles of the Northway stretch.
State agency officials began discussing revisions to the stalled cell project last summer. One possibility is fewer but taller towers. In late 2005, Little also proposed 100-foot tall mobile towers at the three rest areas.
Verizon, which has six cell service sites in the Adirondack Park, is drafting a plan to continue Northway corridor coverage from Schroon Lake up to Keeseville, spokesman John O'Malley said. Tower heights would depend on locations. He said the 38-foot towers in the APA-approved plan would be "ineffective."
AP
The long-standing issue has landed in Gov. Eliot Spitzer's office, where top staff have been discussing it, said spokesman Marc Violette.
"These discussions are taking place aimed at assessing the potential for improving cell service while also keeping in mind the special nature of the environment through which the Northway passes," he said.
At issue is a nearly 50-mile dark zone along the four-lane highway through New York's northern mountains -- the main road from Albany to Montreal. Cell phone service cuts out around Exit 26 near Pottersville and resumes around Exit 35 as drivers leave the Adirondack Park below Plattsburgh.
The entire mountainous and sparsely populated 6-million acre park has only limited land-based cell phone service.
"I think there is consensus there should be cell coverage on that area of the Northway," said state Sen. Betty Little, some of whose constituents would get new wireless phone access as well. "You're going to have to put up taller towers."
In a letter to Spitzer last week, Little called for immediately putting temporary mobile cellular units at three rest areas on Interstate 87, suspending the Adirondack Park Agency's restrictions on tower height within the highway corridor, and either finding a cell company or using $10 million in state emergency funding to build permanent towers.
The Republican from Glens Falls cited "this outrageous threat to public safety" as the reason to act fast.
On Jan. 25, when temperatures fell below zero, Alfred Langner, 63, of Brooklyn, died of hypothermia in his car after it went off I-87 in North Hudson, about 90 miles north of Albany. He and his injured wife waited more than 24 hours for help when her cell phone couldn't get service.
About 20 miles farther north, a 60-year-old Canadian trucker died of a heart attack in a snowstorm Feb. 14 after his tractor-trailer went off the highway. His wife also was unable to phone for help and flagged down a passing motorist.
"It might not be complete, but it's better than what's there," Little said of bringing in three mobile towers immediately. "I'm not trying to change policy within the park," she added. "I'm just trying to change the height restriction on the Northway."
The tower policy of the APA, the state agency that regulates development in the Adirondacks, calls for avoiding mountaintops, putting new services on existing structures like water tanks or old towers and making them "substantially invisible." Structures above 40 feet require APA review.
Since 2000, the agency has approved 50 telecommunication tower projects, including a handful of new freestanding structures. There were 78 previously. New in 2005 was the 104-foot simulated white pine at Pilot Knob on the east side of Lake George, a Nextel Partners installation some environmentalists called "Frankenpine."
With a small tower now in Westport by Exit 31 and others in Schroon Lake that provide spotty coverage between Exits 26 and 28, the dark zones are getting smaller, APA spokesman Keith McKeever said.
"This agency has approved every telecommunications application that's ever been submitted," McKeever said. "Most have been modified to comply to local and state law within the park, but they've all been approved."
Environmentalists have consistently opposed high towers in the scenic mountains. "Obviously we believe that within 10 or 15 years at the outside all of these towers will be obsolete, that the only tamperproof communication available to us right now is satellite, and that properly developed it would solve a large number of the park's communications problems," said John Sheehan, spokesman for the Adirondack Council.
Sheehan said his organization might not object to some mobile cell towers for the remainder of this winter, when the immediate danger from exposure is greatest, as long as they are temporary and come with assurances of a better permanent solution. The plan approved by the APA four years ago -- a series of 33 cell towers connected by fiber optic cable, each tower 38 feet high -- remains the best option, he said.
That project was proposed by the state Department of Transportation, state police and Crown Communication, the company that has a 20-year contract to assist with wireless telecommunication structures on state-owned land.
However, the cell service provider that originally planned to join dropped out, and no other cell companies were attracted, said Jacqueline Phillips Murray, attorney for Crown. There are a half-dozen big and some smaller licensed cell service providers in New York, she said.
"Apparently they felt from a standpoint of numbers of customers it wouldn't necessarily be sustainable," said state police spokesman Lt. Glenn Miner. Meanwhile, troopers in December restored the old emergency callboxes that stand every two miles along 32 miles of the Northway stretch.
State agency officials began discussing revisions to the stalled cell project last summer. One possibility is fewer but taller towers. In late 2005, Little also proposed 100-foot tall mobile towers at the three rest areas.
Verizon, which has six cell service sites in the Adirondack Park, is drafting a plan to continue Northway corridor coverage from Schroon Lake up to Keeseville, spokesman John O'Malley said. Tower heights would depend on locations. He said the 38-foot towers in the APA-approved plan would be "ineffective."
AP
American Tower to Speak at Merrill Lynch's Communication Forum
American Tower Corporation today announced that its Chief Financial Officer, Brad Singer, is scheduled to speak at Merrill Lynch's Communication Forum in New York, New York on Tuesday, February 27, 2007, at 9:00 a.m. EST. The live audio webcast link and related investor materials will be available on the Company's website, www.americantower.com on Tuesday, February 27, 2007.
American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites in the United States, Mexico and Brazil. American Tower owns and operates over 22,000 sites in the United States, Mexico, and Brazil. Additionally, American Tower manages approximately 2,000 revenue producing rooftop and tower sites. For more information about American Tower, please visit www.americantower.com.
Contact:
American Tower Corporation
Michael Powell, 617-375-7500
Director of Investor Relations
Source: American Tower Corporation
American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites in the United States, Mexico and Brazil. American Tower owns and operates over 22,000 sites in the United States, Mexico, and Brazil. Additionally, American Tower manages approximately 2,000 revenue producing rooftop and tower sites. For more information about American Tower, please visit www.americantower.com.
Contact:
American Tower Corporation
Michael Powell, 617-375-7500
Director of Investor Relations
Source: American Tower Corporation
Handheld Entertainment Not Getting the Credit it Deserves
Ant & Sons submits: Handheld Entertainment Inc. (NasdaqCM: ZVUE) got into the online digital media business by being a hardware company, building a series of iPod like devices. But now the company is shifting its focus elsewhere, hoping to build a network of websites that will generate a consistent stream of revenue and in turn, spur demand for its portable media players.
The company recently acquired PutFile, a website that garners an audience of nearly 9.5 million monthly unique visitors and has 1.4 million registered users. The content side of the business is growing, with Handheld's property of websites now having 13.7 million monthly unique visitors, on track to record 1 billion page views this year. The increased monetization of these sites is likely to increase revenue at a good clip. The company says that its current revenue per user is about $.005, but estimates that a realistic goal for revenue per user is more around $.025 to $.03 cents. This would equate to at least $500,000 a month in revenue for the content side of the business alone. This could increase even more as the company is targeting a total of 17-20 monthly million visitors across its network of websites by the end of the year, according to a recent conference call.
On the financial side, the company has made significant strides, aiming to be cash flow positive by the end of the year. Handheld has reduced its operating expenses through some layoffs, and more recently, announced that monthly cash burn has been reduced to $400,000 from approximately $700,000.
The real variable here is the hardware side of the business. Management is banking on its recent acquisitions to help solidify their brand, a move that should help to increase sales of its portable media devices. Overall, it is a very clever business model because the websites the company has acquired are all complimentary and can be used to promote each of the Handheld web properties, and in turn, spur interest in purchasing music and the company's portable media players. Their Wal-Mart distribution is certainly crucial, but their growing base of web users will really be instrumental in fueling the demand for their portable players.
With this in mind, it is difficult to believe that the market is not awarding the company with a higher share price. Rather, the market has doubted the company's potential for future earnings growth, evidenced by the 1 million shares, or nearly 25% of the publicly traded float, held short. When the naysayers are proved wrong, this will make the move to the upside only that much quicker.
SeekingAlpha
The company recently acquired PutFile, a website that garners an audience of nearly 9.5 million monthly unique visitors and has 1.4 million registered users. The content side of the business is growing, with Handheld's property of websites now having 13.7 million monthly unique visitors, on track to record 1 billion page views this year. The increased monetization of these sites is likely to increase revenue at a good clip. The company says that its current revenue per user is about $.005, but estimates that a realistic goal for revenue per user is more around $.025 to $.03 cents. This would equate to at least $500,000 a month in revenue for the content side of the business alone. This could increase even more as the company is targeting a total of 17-20 monthly million visitors across its network of websites by the end of the year, according to a recent conference call.
On the financial side, the company has made significant strides, aiming to be cash flow positive by the end of the year. Handheld has reduced its operating expenses through some layoffs, and more recently, announced that monthly cash burn has been reduced to $400,000 from approximately $700,000.
The real variable here is the hardware side of the business. Management is banking on its recent acquisitions to help solidify their brand, a move that should help to increase sales of its portable media devices. Overall, it is a very clever business model because the websites the company has acquired are all complimentary and can be used to promote each of the Handheld web properties, and in turn, spur interest in purchasing music and the company's portable media players. Their Wal-Mart distribution is certainly crucial, but their growing base of web users will really be instrumental in fueling the demand for their portable players.
With this in mind, it is difficult to believe that the market is not awarding the company with a higher share price. Rather, the market has doubted the company's potential for future earnings growth, evidenced by the 1 million shares, or nearly 25% of the publicly traded float, held short. When the naysayers are proved wrong, this will make the move to the upside only that much quicker.
SeekingAlpha
Company Profile for Global Telecom & Technology, Inc.
Global Telecom & Technology, Inc. ("GTT") is a new type of telecom service provider: a Multi-Network Operator ("MNO").
As a Multi-Network Operator, GTT does not own the infrastructure upon which its services are provided. Instead, GTT designs solutions based on its customer's requirements, using an optimal combination of telecommunications networks and technologies. Unlike traditional network centric carriers, GTT provides best-of-breed solutions by procuring, integrating and managing components of these various networks on its customers' behalf. GTT has taken the inherent advantages of the Multi-Network Operator approach to a new level through a combination of powerful network design and pricing tools; a global service footprint; a deep and broad set of strategic vendor relationships; and above all, an expert team committed to delivering outstanding end-to-end customer service.
Headquartered in McLean, Virginia and with offices in London, Paris, Dusseldorf, New Delhi, and New York, GTT provides a global service footprint covering more than 50 countries, and it has more than 200 customers and in excess of 100 carrier partnerships around the world. For more information visit the GTT web site: http://www.gt-t.net
Company: Global Telecom & Technology, Inc.
Headquarters Address: 8484 West Park Drive
Suite 720
McLean, VA 22102
Main Telephone: 703.442.5500
Website: www.gt-t.net
Ticker/ISIN: GTLT(OTCBB)/US3789791080
GTLTW(OTCBB)/US3789791163
GTLTZ(OTCBB)/US3789791247
Type of Organization: Public
Industry: Telecommunications
Earnings Release Dates: 1st Quarter: May 15, 2007
2nd Quarter: August 15, 2007
3rd Quarter: November 15, 2007
4th Quarter: February 15, 2008
Key Executives: Chairman: Brian Thompson
CFO: Kevin Welch
Investor Relations
Contact: Trish Drennan
Phone: 703.442.5500
Email: tdrennan@gt-t.net
Public Relations
Contact: Andrew Goldsmith
Phone: 703.442.5500
Email: agoldsmith@gt-t.net
Source: Global Telecom & Technology, Inc.
As a Multi-Network Operator, GTT does not own the infrastructure upon which its services are provided. Instead, GTT designs solutions based on its customer's requirements, using an optimal combination of telecommunications networks and technologies. Unlike traditional network centric carriers, GTT provides best-of-breed solutions by procuring, integrating and managing components of these various networks on its customers' behalf. GTT has taken the inherent advantages of the Multi-Network Operator approach to a new level through a combination of powerful network design and pricing tools; a global service footprint; a deep and broad set of strategic vendor relationships; and above all, an expert team committed to delivering outstanding end-to-end customer service.
Headquartered in McLean, Virginia and with offices in London, Paris, Dusseldorf, New Delhi, and New York, GTT provides a global service footprint covering more than 50 countries, and it has more than 200 customers and in excess of 100 carrier partnerships around the world. For more information visit the GTT web site: http://www.gt-t.net
Company: Global Telecom & Technology, Inc.
Headquarters Address: 8484 West Park Drive
Suite 720
McLean, VA 22102
Main Telephone: 703.442.5500
Website: www.gt-t.net
Ticker/ISIN: GTLT(OTCBB)/US3789791080
GTLTW(OTCBB)/US3789791163
GTLTZ(OTCBB)/US3789791247
Type of Organization: Public
Industry: Telecommunications
Earnings Release Dates: 1st Quarter: May 15, 2007
2nd Quarter: August 15, 2007
3rd Quarter: November 15, 2007
4th Quarter: February 15, 2008
Key Executives: Chairman: Brian Thompson
CFO: Kevin Welch
Investor Relations
Contact: Trish Drennan
Phone: 703.442.5500
Email: tdrennan@gt-t.net
Public Relations
Contact: Andrew Goldsmith
Phone: 703.442.5500
Email: agoldsmith@gt-t.net
Source: Global Telecom & Technology, Inc.
Global Telecom & Technology Appoints H. Brian Thompson Interim Chief Executive Officer
Global Telecom & Technology, Inc., a global Multi-Network Operator (MNO), today announced that its Board of Directors, by unanimous vote of its independent directors, has appointed H. Brian Thompson as Interim Chief Executive Officer (CEO). In addition to his duties as CEO, Mr. Thompson will continue in his current role as Executive Chairman.
Mr. Keenan resigned as GTT's CEO effective February 23, 2007. He continues to serve the company as a Director.
"Mike's decision to step down is a mutual one. It takes a unique individual to recognize when change is needed in an organization, particularly when it is his role that must change. As a shareholder and member of GTT's executive management team, Mike had the vision to make this important and far-reaching change," Mr. Thompson said. "On behalf of the Board, the shareholders, and the entire GTT family, I want to thank Mike for his efforts to bring the company to where it is today. Mike was co-founder of Global Internetworking, now GTT's North American operation, and he was instrumental in helping to complete the complex transaction between Mercator Partners, Global Internetworking and European Telecommunications & Technology to create today's GTT."
"We are at a critical stage of our growth now that the transaction is complete and integration is well underway," Thompson continued. "The Board and I have significant plans for this company which include continued internationalization and expansion of our service offerings, both leading to the ultimate goal of creation of increased shareholder value. To do so we need a telecom executive with demonstrated success in growing emerging public entities into large global industry leaders. The Board is in the process of conducting a search for Mike's successor."
Mr. Keenan said, "As a global public company with an aggressive growth strategy, the company needs a leader who has the experience necessary to take GTT to the next level. As an entrepreneur I have taken the company as far as I can. It's time to turn over leadership of this dynamic company to an industry leader with the strongest possible telecom, international, and public company experience. I am pleased that Brian, who has the skill set and experience to lead GTT through this transition, has agreed to take on this responsibility at such a critical time."
Mr. Thompson has been a leader in the global competitive telecommunications industry for over three decades. He is currently Chairman of Comsat International, and has served as Chairman and Chief Executive Officer of Global TeleSystems Group, Inc., Chairman of Eircom, the Irish telecommunications company and Chairman and Chief Executive Officer of LCI International. Joining LCI in 1991, Mr. Thompson led the turnaround of the company and its emergence as one of the fastest growing telecommunications companies in the U.S. In June 1998, LCI was acquired by Qwest and he became Vice Chairman of the combined company until his resignation in December 1998. Prior to that, Mr. Thompson was Executive Vice President of MCI Communications Corporation with responsibility for all the company's operating divisions, including MCI International. Earlier in his career, Mr. Thompson was a management consultant with McKinsey & Company, where he specialized in the management of telecommunications and technology enterprises.
About GTT
Formed in October 2006, following the acquisition by Mercator Partners Acquisition Corp. of Global Internetworking Inc and European Telecommunications & Technology Limited, Global Telecom & Technology, Inc. ("GTT") (OTCBB:GTLT - News) is a new type of service provider: a Multi-Network Operator ("MNO").
As a Multi-Network Operator, GTT does not own the infrastructure upon which its services are provided. Instead, GTT designs solutions based on its customer's requirements, using a combination of telecommunications networks and technologies. Unlike traditional network centric carriers, GTT provides best-of-breed solutions by procuring, integrating and managing components of these various networks on its customers' behalf. GTT has taken the inherent advantages of the Multi-Network Operator approach to a new level through a combination of powerful network design and pricing tools; a global service footprint; a deep and broad set of strategic vendor relationships; and above all, an expert team committed to delivering outstanding end-to-end customer service.
Headquartered in McLean, Virginia and with offices in London, Paris, Dusseldorf, New Delhi, and New York, GTT provides a global service footprint covering more than 50 countries, and it has more than 200 customers and in excess of 100 carrier partnerships around the world. For more information visit the GTT web site: http://www.gt-t.net
Forward-Looking Statement
Some of the statements made by GTT in this press release, including without limitation statements regarding GTT's anticipated future growth, are forward-looking in nature. GTT intends that any forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), shall be covered by the safe harbor provisions for such statements contained in Section 21E of the Exchange Act. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may," "will," "should," "expects," "anticipates," "intends," "plans," "believes," "estimates," "predicts," "potential," "continues" and similar expressions are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual future results to differ materially from those projected or contemplated in the forward-looking statements. GTT believes that these risks include, but are not limited to: GTT's ability to develop and market new products and services that meet customer demands and generate acceptable margins; GTT's reliance on several large customers; GTT's ability to negotiate and enter into acceptable contract terms with its suppliers; GTT's ability to attract and retain qualified management and other personnel; failure of the third-party communications networks on which GTT depends; and competition and other risks associated with the communications sector in general and the multi-network operator sector in particular. Additional information concerning these and other important factors can be found under the heading "Risk Factors" in GTT's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission in November 2006, and in GTT's other annual and quarterly reports filed from time to time with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors.
Contact:
Global Telecom & Technology, Inc., McLean
Media Inquiries:
Andrew Goldsmith, +1 703-442-5500
andrew.goldsmith@gt-t.net
or
Investor Inquiries:
Trish Drennan, +1 703-725-7625
tdrennan@gt-t.net
Source: Global Telecom & Technology, Inc.
Mr. Keenan resigned as GTT's CEO effective February 23, 2007. He continues to serve the company as a Director.
"Mike's decision to step down is a mutual one. It takes a unique individual to recognize when change is needed in an organization, particularly when it is his role that must change. As a shareholder and member of GTT's executive management team, Mike had the vision to make this important and far-reaching change," Mr. Thompson said. "On behalf of the Board, the shareholders, and the entire GTT family, I want to thank Mike for his efforts to bring the company to where it is today. Mike was co-founder of Global Internetworking, now GTT's North American operation, and he was instrumental in helping to complete the complex transaction between Mercator Partners, Global Internetworking and European Telecommunications & Technology to create today's GTT."
"We are at a critical stage of our growth now that the transaction is complete and integration is well underway," Thompson continued. "The Board and I have significant plans for this company which include continued internationalization and expansion of our service offerings, both leading to the ultimate goal of creation of increased shareholder value. To do so we need a telecom executive with demonstrated success in growing emerging public entities into large global industry leaders. The Board is in the process of conducting a search for Mike's successor."
Mr. Keenan said, "As a global public company with an aggressive growth strategy, the company needs a leader who has the experience necessary to take GTT to the next level. As an entrepreneur I have taken the company as far as I can. It's time to turn over leadership of this dynamic company to an industry leader with the strongest possible telecom, international, and public company experience. I am pleased that Brian, who has the skill set and experience to lead GTT through this transition, has agreed to take on this responsibility at such a critical time."
Mr. Thompson has been a leader in the global competitive telecommunications industry for over three decades. He is currently Chairman of Comsat International, and has served as Chairman and Chief Executive Officer of Global TeleSystems Group, Inc., Chairman of Eircom, the Irish telecommunications company and Chairman and Chief Executive Officer of LCI International. Joining LCI in 1991, Mr. Thompson led the turnaround of the company and its emergence as one of the fastest growing telecommunications companies in the U.S. In June 1998, LCI was acquired by Qwest and he became Vice Chairman of the combined company until his resignation in December 1998. Prior to that, Mr. Thompson was Executive Vice President of MCI Communications Corporation with responsibility for all the company's operating divisions, including MCI International. Earlier in his career, Mr. Thompson was a management consultant with McKinsey & Company, where he specialized in the management of telecommunications and technology enterprises.
About GTT
Formed in October 2006, following the acquisition by Mercator Partners Acquisition Corp. of Global Internetworking Inc and European Telecommunications & Technology Limited, Global Telecom & Technology, Inc. ("GTT") (OTCBB:GTLT - News) is a new type of service provider: a Multi-Network Operator ("MNO").
As a Multi-Network Operator, GTT does not own the infrastructure upon which its services are provided. Instead, GTT designs solutions based on its customer's requirements, using a combination of telecommunications networks and technologies. Unlike traditional network centric carriers, GTT provides best-of-breed solutions by procuring, integrating and managing components of these various networks on its customers' behalf. GTT has taken the inherent advantages of the Multi-Network Operator approach to a new level through a combination of powerful network design and pricing tools; a global service footprint; a deep and broad set of strategic vendor relationships; and above all, an expert team committed to delivering outstanding end-to-end customer service.
Headquartered in McLean, Virginia and with offices in London, Paris, Dusseldorf, New Delhi, and New York, GTT provides a global service footprint covering more than 50 countries, and it has more than 200 customers and in excess of 100 carrier partnerships around the world. For more information visit the GTT web site: http://www.gt-t.net
Forward-Looking Statement
Some of the statements made by GTT in this press release, including without limitation statements regarding GTT's anticipated future growth, are forward-looking in nature. GTT intends that any forward-looking statements, as defined in Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), shall be covered by the safe harbor provisions for such statements contained in Section 21E of the Exchange Act. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may," "will," "should," "expects," "anticipates," "intends," "plans," "believes," "estimates," "predicts," "potential," "continues" and similar expressions are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual future results to differ materially from those projected or contemplated in the forward-looking statements. GTT believes that these risks include, but are not limited to: GTT's ability to develop and market new products and services that meet customer demands and generate acceptable margins; GTT's reliance on several large customers; GTT's ability to negotiate and enter into acceptable contract terms with its suppliers; GTT's ability to attract and retain qualified management and other personnel; failure of the third-party communications networks on which GTT depends; and competition and other risks associated with the communications sector in general and the multi-network operator sector in particular. Additional information concerning these and other important factors can be found under the heading "Risk Factors" in GTT's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission in November 2006, and in GTT's other annual and quarterly reports filed from time to time with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors.
Contact:
Global Telecom & Technology, Inc., McLean
Media Inquiries:
Andrew Goldsmith, +1 703-442-5500
andrew.goldsmith@gt-t.net
or
Investor Inquiries:
Trish Drennan, +1 703-725-7625
tdrennan@gt-t.net
Source: Global Telecom & Technology, Inc.
Germany Adopts Telecom Law That Irks EU Regulators (Update2)
Germany adopted a revised telecommunications law that European Union regulators said protects Deutsche Telekom AG, the country's former monopoly, from competition.
The law, passed by Germany's upper house of parliament in December, was published in the legal gazette today and will take effect tomorrow, the Economy Ministry said in a faxed statement. European Media Commissioner Viviane Reding has threatened to sue Germany, which holds the EU presidency in the first half of 2007, unless it scraps some provisions in the legislation.
The law, which stemmed from Chancellor Angela Merkel's agreement with her coalition partners in 2005, affects whether Bonn-based Deutsche Telekom will be forced to open its new fiber- optic network to rivals such as United Internet AG that didn't pay for start-up costs. Deutsche Telekom plans to invest as much as 3 billion euros ($4 billion) in the network.
``The law achieves a balance between the need to spur competition and companies' desire to invest,'' German Economy Minister Michael Glos said in the statement. Glos said accusations that the legislation gives some companies ``regulatory holidays'' are ``unfounded.''
Recouping Investment
Deutsche Telekom, which is 32 percent owned by the government, has said it may halt spending on the network unless the company gets guarantees that it will have exclusive access long enough to recoup investments.
The European Commission said today it ``has taken notice of Germany's publication of the new telecom law'' and is set to start legal proceedings against the government.
``The commission will act as soon as the law actually takes effect,'' the agency said in an e-mailed statement from Brussels.
Germany's government views the law as being compatible with EU regulations, an Economy Ministry official who asked not to be identified said via phone today.
Shares of Deutsche Telekom rose 34 cents, or 2.5 percent, to 13.79 euros in Frankfurt. The stock has risen 3.5 percent in the past year, compared with a 19 percent gain by Germany's benchmark DAX Index.
The fiber-optic system, which uses the so-called VDSL technology, allows transmission of data at 25 times the speed commonly used today.
Deutsche Telekom has spent about 1 billion euros to connect 10 bigger cities to the network and offer combined Internet, phone and TV services. Rene Obermann, who took over as chief executive in November, hasn't given expansion details for the network.
Pulling the plug on the network may jeopardize 5,000 jobs, Deutsche Telekom has said. The company is already cutting 32,000 German positions through 2008 as fixed-line phone revenue slumped for four consecutive years.
The T-Com fixed-line unit lost 2 million traditional connections to rivals including Arcor AG last year. Deutsche Telekom last month cut its 2007 profit forecast as competition in Germany intensifies and the dollar's decline against the euro erodes U.S. revenue.
To contact the reporters on this story: Kenneth Wong in Berlin at kwong11@bloomberg.net ; Brian Parkin in Berlin at bparkin@bloomberg.net .
The law, passed by Germany's upper house of parliament in December, was published in the legal gazette today and will take effect tomorrow, the Economy Ministry said in a faxed statement. European Media Commissioner Viviane Reding has threatened to sue Germany, which holds the EU presidency in the first half of 2007, unless it scraps some provisions in the legislation.
The law, which stemmed from Chancellor Angela Merkel's agreement with her coalition partners in 2005, affects whether Bonn-based Deutsche Telekom will be forced to open its new fiber- optic network to rivals such as United Internet AG that didn't pay for start-up costs. Deutsche Telekom plans to invest as much as 3 billion euros ($4 billion) in the network.
``The law achieves a balance between the need to spur competition and companies' desire to invest,'' German Economy Minister Michael Glos said in the statement. Glos said accusations that the legislation gives some companies ``regulatory holidays'' are ``unfounded.''
Recouping Investment
Deutsche Telekom, which is 32 percent owned by the government, has said it may halt spending on the network unless the company gets guarantees that it will have exclusive access long enough to recoup investments.
The European Commission said today it ``has taken notice of Germany's publication of the new telecom law'' and is set to start legal proceedings against the government.
``The commission will act as soon as the law actually takes effect,'' the agency said in an e-mailed statement from Brussels.
Germany's government views the law as being compatible with EU regulations, an Economy Ministry official who asked not to be identified said via phone today.
Shares of Deutsche Telekom rose 34 cents, or 2.5 percent, to 13.79 euros in Frankfurt. The stock has risen 3.5 percent in the past year, compared with a 19 percent gain by Germany's benchmark DAX Index.
The fiber-optic system, which uses the so-called VDSL technology, allows transmission of data at 25 times the speed commonly used today.
Deutsche Telekom has spent about 1 billion euros to connect 10 bigger cities to the network and offer combined Internet, phone and TV services. Rene Obermann, who took over as chief executive in November, hasn't given expansion details for the network.
Pulling the plug on the network may jeopardize 5,000 jobs, Deutsche Telekom has said. The company is already cutting 32,000 German positions through 2008 as fixed-line phone revenue slumped for four consecutive years.
The T-Com fixed-line unit lost 2 million traditional connections to rivals including Arcor AG last year. Deutsche Telekom last month cut its 2007 profit forecast as competition in Germany intensifies and the dollar's decline against the euro erodes U.S. revenue.
To contact the reporters on this story: Kenneth Wong in Berlin at kwong11@bloomberg.net ; Brian Parkin in Berlin at bparkin@bloomberg.net .
Wire and cable-maker says profits exceeded expectations
Superior Essex Inc., one of the largest wire and cable manufacturers in the world, said its 2006 revenues were $2.9 billion, up from $1.8 billion for full year 2005. Net income jumped to $57.4 million, compared to $31.9 million for full year 2005.
For the quarter ended Dec. 31, the Atlanta-based company (Nasdaq: SPSX) reported revenues of $672 million, compared to $523 million for the fourth quarter of 2005. Earnings for the quarter more than doubled, to $6.7 million from $3 million during the same period the year before.
"On a full year basis, we are extremely pleased with our performance in 2006, as we achieved significant real revenue growth from the successful integration of our European Magnet Wire acquisition. On the profitability side, we far exceeded our expectations for 2006," said CEO Stephen M. Carter.
Superior Essex makes copper and fiber optic communications wire and cable products for telephone companies, distributors and system integrators as well as wire and other products used in motors, transformers, generators and electrical controls.
source news : bizjournals.com
For the quarter ended Dec. 31, the Atlanta-based company (Nasdaq: SPSX) reported revenues of $672 million, compared to $523 million for the fourth quarter of 2005. Earnings for the quarter more than doubled, to $6.7 million from $3 million during the same period the year before.
"On a full year basis, we are extremely pleased with our performance in 2006, as we achieved significant real revenue growth from the successful integration of our European Magnet Wire acquisition. On the profitability side, we far exceeded our expectations for 2006," said CEO Stephen M. Carter.
Superior Essex makes copper and fiber optic communications wire and cable products for telephone companies, distributors and system integrators as well as wire and other products used in motors, transformers, generators and electrical controls.
source news : bizjournals.com
Announcement : Sonaecom Comments on its bid for Portugal Telecom
Sonaecom's offer for Portugal Telecom ("PT") has entered its final phase. It is now up to PT's shareholders to crystallize their value by attending the Extraordinary General Meeting ("EGM") of 2 March 2007, voting in favour of amending PT's by-laws in order to remove the existing 10% voting right restriction for individual shareholders and authorizing Sonaecom to acquire more than 10% of PT's share capital, and tendering their shares on or before 9 March 2007.
We remind PT's shareholders that today, February 23, 2007, is the deadline for shareholders to submit to the Chairman of PT's EGM their letters certifying that the shares are blocked and therefore eligible to vote at the EGM that will take place on 2 March 2007. In accordance to CMVM's decision made public on 22 February 2007, PT shareholders have the right to unblock their shares at any time up to one business day prior to the EGM, i.e. 1 March 2007.
In an effort to avoid any misinformation, we clarify that the amendment of PT's by-laws requires shareholders representing at least one third of the share capital to be present or represented at the EGM and approval by a two-thirds of the votes cast. Votes abstained will not be counted as a vote cast when assessing the EGM results in accordance with Portuguese corporate law.
Sonaecom has put forward its best and final Offer, offering full value to PT's shareholders. Sonaecom's EUR10.50 per share best and final cash offer is at a significant premium to PT's fundamental value, reflecting the payment of transaction synergies and represents a significant premium to all the relevant comparable valuation metrics. Sonaecom's EUR10.50 per cash offer for PT implies:
- An EV / LTM EBITDA 07 multiple of 8.4x representing a EUR3.6bn premium to similar change of control transaction multiples;
- An EV / EBITDA 07 multiple of 8.4x; an EV / OpCF 07 of 14.4x; and a P/E of 20.2x representing an overall EUR3.1 bn premium to current telecom peer trading multiples despite a circa 30% telecom sector market rally;
- A EUR2.1bn premium to market analysts' fair valuations.
Recent, consistent attempts to mislead and misinform the market are not in the interests of shareholders. Misleading comments being communicated to the market are yet another attempt to block the deal at any price and are certainly not in line with the best corporate governance practices and are against shareholder democracy.
The EGM will determine whether the shareholders as a whole will have the right to gain access to Sonaecom's offer and determine the future of their PT investment. If the proposed amendment of PT's by-laws is not approved on 2 March 2007, Sonaecom's offer will lapse and fail, thus denying shareholders the individual choice of accepting or not Sonaecom's premium value cash offer today.
Only a few shareholders have anything to gain from such a scenario. PT's Board and management should focus on their fiduciary duties to all of PT shareholders and ensure that the principles of best corporate governance practice prevail.
The momentum behind Sonaecom's offer has clearly been built-up over the last few days as PT shareholders block their shares and prepare to vote to have the right to accept Sonaecom's premium cash offer and to uphold the basic principles of one-share/one-vote and shareholder democracy.
This announcement relates to the tender offer being made in Portugal (the "Portuguese Offer") by Sonaecom, SGPS, S.A. ("Sonaecom") and Sonaecom, B.V. for all ordinary shares and class A shares of Portugal Telecom, SGPS, S.A. ("PT"). The Portuguese Offer is made solely by a prospectus containing and setting out the terms and conditions of the Portuguese Offer (the "Portuguese Prospectus"). PT investors and security holders are urged to read the Portuguese Prospectus regarding the tender offer for PT in Portugal, because it contains important information. The Portuguese Prospectus and certain complementary documentation have been filed in Portugal with the Portuguese Securities Market Commission (Comissao do Mercado de Valores Mobiliarios) (the "CMVM"). Free copies of the Portuguese Prospectus are available on the CMVM's website at http://www.cmvm.pt/. The Portuguese Prospectus is also available from Sonaecom on its website at http://www.sonae.com/. Copies of the Portuguese Prospectus will not be mailed or otherwise distributed in or sent into or made available in the United States.
U.S. persons who hold ordinary shares of PT and holders of American Depositary Shares of PT wherever located may participate the tender offer by Sonae, SGPS, S.A. ("Sonae"), Sonaecom, and Sonaecom, B.V. (together with Sonae and Sonaecom, the "Purchasers"), for PT shares being conducted in the United States. The Purchasers have filed with the United States Securities and Exchange Commission (the "SEC") a statement on Schedule TO, which includes an offer to purchase and related offer materials for all ordinary shares held by U.S. persons and for PT ADSs held by holders wherever located (collectively, the "Tender Offer Statement"). PT has filed a Solicitation/ Recommendation Statement on form Schedule 14D-9 with the SEC. U.S. persons who hold ordinary shares of PT and holders of American Depositary Shares of PT wherever located are advised to read the Tender Offer Statement and the Solicitation/Recommendation Statement because they contain important information. U.S. INVESTORS AND U.S. HOLDERS OF PT SECURITIES AND ALL HOLDERS OF ADSs ARE URGED TO READ THE OFFER TO PURCHASE, THE STATEMENT ON SCHEDULE TO, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of the offer to purchase and related offer materials and the statement on Schedule TO, as well as other relevant documents filed with the SEC, at the SEC's website at http://www.sec.gov/. The offer to purchase and other transaction-related documents are being mailed to holders of PT securities eligible to participate in the U.S. offer and additional copies may be obtained for free from Innisfree M&A Incorporated, the information agent: 501 Madison Avenue, 20th Floor, New York, New York 10022, Toll Free (888)-750-5834, Banks and Brokers Call Collect (212)-750-5833.
This announcement does not constitute an invitation to sell or an offer to buy any securities or a solicitation of any vote or approval.
This announcement may contain forward-looking information and statements about Sonae, Sonaecom, PT or their combined businesses after completion of the proposed U.S. and Portuguese offers, based on the Purchasers' current expectations or beliefs. Forward-looking statements are statements that are not historical facts. These forward-looking statements may relate to, among other things: management strategies; synergies and cost savings; future operations, products and services; integration of the businesses; market position; planned asset disposal and capital expenditures; net debt levels and EBITDA; and earnings per share growth, dividend policy and timing and benefits of the offer and the combined company. These forward-looking statements are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forwarding-looking statements, including, but not limited to, changes in regulation, the telecommunications industry and economic conditions; the ability to integrate the businesses; obtaining any applicable governmental approvals and complying with any conditions related thereto; costs relating to the offer and the integration; litigation; and the effects of competition. Forward-looking statements may be identified by words such as "believes," "expects," "anticipates," "projects," "intends," "should," "seeks," "estimates," "future" or similar expressions. Although these statements reflect our current expectations, which we believe are reasonable, investors and PT shareholders are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. You are cautioned not to put undue reliance on any forward-looking information or statements. We do not undertake any obligation to update any forward-looking information or statements.
Sonaecom
Contacts details: Fiona Laffan +44-(0)20-7404-5959
Copyright © 2007 SYS-CON Media
We remind PT's shareholders that today, February 23, 2007, is the deadline for shareholders to submit to the Chairman of PT's EGM their letters certifying that the shares are blocked and therefore eligible to vote at the EGM that will take place on 2 March 2007. In accordance to CMVM's decision made public on 22 February 2007, PT shareholders have the right to unblock their shares at any time up to one business day prior to the EGM, i.e. 1 March 2007.
In an effort to avoid any misinformation, we clarify that the amendment of PT's by-laws requires shareholders representing at least one third of the share capital to be present or represented at the EGM and approval by a two-thirds of the votes cast. Votes abstained will not be counted as a vote cast when assessing the EGM results in accordance with Portuguese corporate law.
Sonaecom has put forward its best and final Offer, offering full value to PT's shareholders. Sonaecom's EUR10.50 per share best and final cash offer is at a significant premium to PT's fundamental value, reflecting the payment of transaction synergies and represents a significant premium to all the relevant comparable valuation metrics. Sonaecom's EUR10.50 per cash offer for PT implies:
- An EV / LTM EBITDA 07 multiple of 8.4x representing a EUR3.6bn premium to similar change of control transaction multiples;
- An EV / EBITDA 07 multiple of 8.4x; an EV / OpCF 07 of 14.4x; and a P/E of 20.2x representing an overall EUR3.1 bn premium to current telecom peer trading multiples despite a circa 30% telecom sector market rally;
- A EUR2.1bn premium to market analysts' fair valuations.
Recent, consistent attempts to mislead and misinform the market are not in the interests of shareholders. Misleading comments being communicated to the market are yet another attempt to block the deal at any price and are certainly not in line with the best corporate governance practices and are against shareholder democracy.
The EGM will determine whether the shareholders as a whole will have the right to gain access to Sonaecom's offer and determine the future of their PT investment. If the proposed amendment of PT's by-laws is not approved on 2 March 2007, Sonaecom's offer will lapse and fail, thus denying shareholders the individual choice of accepting or not Sonaecom's premium value cash offer today.
Only a few shareholders have anything to gain from such a scenario. PT's Board and management should focus on their fiduciary duties to all of PT shareholders and ensure that the principles of best corporate governance practice prevail.
The momentum behind Sonaecom's offer has clearly been built-up over the last few days as PT shareholders block their shares and prepare to vote to have the right to accept Sonaecom's premium cash offer and to uphold the basic principles of one-share/one-vote and shareholder democracy.
This announcement relates to the tender offer being made in Portugal (the "Portuguese Offer") by Sonaecom, SGPS, S.A. ("Sonaecom") and Sonaecom, B.V. for all ordinary shares and class A shares of Portugal Telecom, SGPS, S.A. ("PT"). The Portuguese Offer is made solely by a prospectus containing and setting out the terms and conditions of the Portuguese Offer (the "Portuguese Prospectus"). PT investors and security holders are urged to read the Portuguese Prospectus regarding the tender offer for PT in Portugal, because it contains important information. The Portuguese Prospectus and certain complementary documentation have been filed in Portugal with the Portuguese Securities Market Commission (Comissao do Mercado de Valores Mobiliarios) (the "CMVM"). Free copies of the Portuguese Prospectus are available on the CMVM's website at http://www.cmvm.pt/. The Portuguese Prospectus is also available from Sonaecom on its website at http://www.sonae.com/. Copies of the Portuguese Prospectus will not be mailed or otherwise distributed in or sent into or made available in the United States.
U.S. persons who hold ordinary shares of PT and holders of American Depositary Shares of PT wherever located may participate the tender offer by Sonae, SGPS, S.A. ("Sonae"), Sonaecom, and Sonaecom, B.V. (together with Sonae and Sonaecom, the "Purchasers"), for PT shares being conducted in the United States. The Purchasers have filed with the United States Securities and Exchange Commission (the "SEC") a statement on Schedule TO, which includes an offer to purchase and related offer materials for all ordinary shares held by U.S. persons and for PT ADSs held by holders wherever located (collectively, the "Tender Offer Statement"). PT has filed a Solicitation/ Recommendation Statement on form Schedule 14D-9 with the SEC. U.S. persons who hold ordinary shares of PT and holders of American Depositary Shares of PT wherever located are advised to read the Tender Offer Statement and the Solicitation/Recommendation Statement because they contain important information. U.S. INVESTORS AND U.S. HOLDERS OF PT SECURITIES AND ALL HOLDERS OF ADSs ARE URGED TO READ THE OFFER TO PURCHASE, THE STATEMENT ON SCHEDULE TO, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of the offer to purchase and related offer materials and the statement on Schedule TO, as well as other relevant documents filed with the SEC, at the SEC's website at http://www.sec.gov/. The offer to purchase and other transaction-related documents are being mailed to holders of PT securities eligible to participate in the U.S. offer and additional copies may be obtained for free from Innisfree M&A Incorporated, the information agent: 501 Madison Avenue, 20th Floor, New York, New York 10022, Toll Free (888)-750-5834, Banks and Brokers Call Collect (212)-750-5833.
This announcement does not constitute an invitation to sell or an offer to buy any securities or a solicitation of any vote or approval.
This announcement may contain forward-looking information and statements about Sonae, Sonaecom, PT or their combined businesses after completion of the proposed U.S. and Portuguese offers, based on the Purchasers' current expectations or beliefs. Forward-looking statements are statements that are not historical facts. These forward-looking statements may relate to, among other things: management strategies; synergies and cost savings; future operations, products and services; integration of the businesses; market position; planned asset disposal and capital expenditures; net debt levels and EBITDA; and earnings per share growth, dividend policy and timing and benefits of the offer and the combined company. These forward-looking statements are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forwarding-looking statements, including, but not limited to, changes in regulation, the telecommunications industry and economic conditions; the ability to integrate the businesses; obtaining any applicable governmental approvals and complying with any conditions related thereto; costs relating to the offer and the integration; litigation; and the effects of competition. Forward-looking statements may be identified by words such as "believes," "expects," "anticipates," "projects," "intends," "should," "seeks," "estimates," "future" or similar expressions. Although these statements reflect our current expectations, which we believe are reasonable, investors and PT shareholders are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. You are cautioned not to put undue reliance on any forward-looking information or statements. We do not undertake any obligation to update any forward-looking information or statements.
Sonaecom
Contacts details: Fiona Laffan +44-(0)20-7404-5959
Copyright © 2007 SYS-CON Media
Applied Innovation to be Acquired by KEG Holdings, Inc.
Applied Innovation Inc., a leading provider of network management solutions for the communications industry, today announced that it has signed a definitive agreement with KEG Holdings, Inc. (KEG), the parent company of Kentrox, LLC (Kentrox), a supplier of high-speed network access equipment. Pursuant to the agreement, KEG will acquire all of the outstanding shares of Applied Innovation for $3.45 per share in cash. Upon completion of this transaction, Investcorp Technology Partners, a current investor in KEG, will own a controlling interest in the combined company.
The Boards of Directors of both Applied Innovation and KEG have approved the proposed transaction. In addition, Gerard B. Moersdorf, the founder and a director of Applied Innovation, who beneficially has voting rights for approximately 37% of Applied Innovation's outstanding shares of common stock, has signed a voting agreement in favor of the proposed transaction.
As described in the acquisition agreement to be filed by Applied Innovation with the Securities and Exchange Commission (SEC), the final purchase price is subject to a downward or upward closing adjustment based on Applied Innovation's net working capital at closing. The transaction also is subject to the approval of Applied Innovation's stockholders and other customary closing conditions. It currently is anticipated that the transaction will close on or before the end of Applied Innovation's second quarter.
"In today's business environment, and especially in our industry, scale is becoming more critical in order to continue to bring technologically competitive and cost-competitive products to the marketplace," said William H. Largent, President and Chief Executive Officer of Applied Innovation. "By bringing together the technical and service capabilities of Applied Innovation and Kentrox, our telecommunications customers will have expanded access to more advanced products."
"We are excited about the combination of Applied Innovation and Kentrox, which will clearly help us achieve our strategic vision faster, while greatly expanding our offering to our valued customers," said Jeff Estuesta, KEG's President and Chief Executive Officer. "We also look forward to welcoming Applied Innovation's employees to the Kentrox family."
"We believe our continued investment in KEG Holdings will allow the combination of Kentrox and Applied Innovation to continue to innovate, create new products and achieve their growth plans," said Anand Radhakrishnan of Investcorp Technology Partners.
Raymond James & Associates, Inc. has acted as financial advisor to Applied Innovation in connection with the transaction, and has rendered a fairness opinion to its Board of Directors.
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of Applied Innovation common stock. Applied Innovation intends to file a proxy statement with the SEC in the near future with respect to this transaction. The proxy statement will contain important information that should be read carefully by Applied Innovation stockholders. It will be made available to Applied Innovation stockholders at no charge to them and will also be available (along with all other documents filed with the Securities and Exchange Commission) at the SEC's website at www.sec.gov.
About Applied Innovation
Applied Innovation provides hardware and software applications that drive operational efficiency and improve quality in wireless, wireline and converging networks. Applied Innovation's industry-leading solutions include sophisticated remote site management, 3G network data quality monitoring and logical security of critical networks. Applied Innovation is a certified TL 9000 registered company with solutions currently installed in more than 34,000 sites worldwide.
Headquartered in Dublin, Ohio, Applied is traded on NASDAQ under the symbol AINN. For more information, please visit the Company's Web site at http://www.AppliedInnovation.com.
About Kentrox
Kentrox is a leading supplier of high-speed network access equipment, including the recently-introduced and award-winning QoS appliance, Q-Series QoS access routers, DSU/CSUs, ATM access concentrators and wireless base station products. Its extensive customer base includes enterprises and small- to-medium offices, carriers, wireless service providers and government entities worldwide. Kentrox is based in Hillsboro, Oregon. Contact the company at 800-733-5511 or via the Web at www.kentrox.com.
About Investcorp Technology Partners
Investcorp Technology Partners is a leading growth and buyout investor in small and medium-sized technology businesses in North America and Europe. The team focuses on growth capital, buyout, corporate carveout and take-private transactions, generally investing between $15 million and $40 million of equity. Investcorp Technology Partners is part of Investcorp, a leading provider and manager of alternative investment products with over $10 billion in invested assets under management. Further information is available at www.investcorp.com.
Safe Harbor Statement
This communication contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, particularly those statements regarding the effects of the proposed merger and those preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," or similar expressions. Forward-looking statements relating to expectations about future results or events are based upon information available as of today's date, and there is no assumed obligation to update any of these statements. The forward-looking statements are not guarantees of future performance, and actual results may vary materially from the results and expectations discussed. For instance, although Applied Innovation and KEG Holdings, Inc. have signed an agreement for a subsidiary of KEG Holdings, Inc. to merge with and into Applied Innovation, there is no assurance that they will complete the proposed merger. The proposed merger may not occur if the companies do not receive necessary approval of Applied Innovation's stockholders, or if it is blocked by a governmental agency, or if either Applied Innovation or KEG Holdings, Inc. fail to satisfy other conditions to closing. Other risks and uncertainties to which the companies are subject are discussed in the companies' reports filed with the Securities and Exchange Commission (the "SEC") under the caption Risk Factors and elsewhere, including, without limitation, Applied Innovation's Annual Report on Form 10-K for the year ended December 31, 2005 (filed March 20, 2006), Quarterly Report on Form 10-Q for the quarter ended September 30, 2006 (filed November 13, 2006), Quarterly Report on Form 10-Q for the quarter ended June 30, 2006 (filed August 11, 2006), and Quarterly Report on Form 10-Q for the quarter ended March 31, 2006 (filed May 12, 2006). Copies of Applied Innovation's filings with the SEC can be obtained on Applied Innovation's website, or at the SEC's website at www.sec.gov. One or more of these factors have affected, and could affect Applied Innovation's business and financial results in future periods, and could cause actual results and issues related to the merger transaction to differ materially from plans and projections. Any forward-looking statement is qualified by reference to these risks, uncertainties and factors. Forward- looking statements speak only as of the date of the documents in which they are made. These risks, uncertainties and factors are not exclusive, and Applied Innovation undertakes no obligation to publicly update or review any forward-looking statements to reflect events or circumstances that may arise after the date of this release, except as required by law.
Source: Applied Innovation Inc.
The Boards of Directors of both Applied Innovation and KEG have approved the proposed transaction. In addition, Gerard B. Moersdorf, the founder and a director of Applied Innovation, who beneficially has voting rights for approximately 37% of Applied Innovation's outstanding shares of common stock, has signed a voting agreement in favor of the proposed transaction.
As described in the acquisition agreement to be filed by Applied Innovation with the Securities and Exchange Commission (SEC), the final purchase price is subject to a downward or upward closing adjustment based on Applied Innovation's net working capital at closing. The transaction also is subject to the approval of Applied Innovation's stockholders and other customary closing conditions. It currently is anticipated that the transaction will close on or before the end of Applied Innovation's second quarter.
"In today's business environment, and especially in our industry, scale is becoming more critical in order to continue to bring technologically competitive and cost-competitive products to the marketplace," said William H. Largent, President and Chief Executive Officer of Applied Innovation. "By bringing together the technical and service capabilities of Applied Innovation and Kentrox, our telecommunications customers will have expanded access to more advanced products."
"We are excited about the combination of Applied Innovation and Kentrox, which will clearly help us achieve our strategic vision faster, while greatly expanding our offering to our valued customers," said Jeff Estuesta, KEG's President and Chief Executive Officer. "We also look forward to welcoming Applied Innovation's employees to the Kentrox family."
"We believe our continued investment in KEG Holdings will allow the combination of Kentrox and Applied Innovation to continue to innovate, create new products and achieve their growth plans," said Anand Radhakrishnan of Investcorp Technology Partners.
Raymond James & Associates, Inc. has acted as financial advisor to Applied Innovation in connection with the transaction, and has rendered a fairness opinion to its Board of Directors.
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of Applied Innovation common stock. Applied Innovation intends to file a proxy statement with the SEC in the near future with respect to this transaction. The proxy statement will contain important information that should be read carefully by Applied Innovation stockholders. It will be made available to Applied Innovation stockholders at no charge to them and will also be available (along with all other documents filed with the Securities and Exchange Commission) at the SEC's website at www.sec.gov.
About Applied Innovation
Applied Innovation provides hardware and software applications that drive operational efficiency and improve quality in wireless, wireline and converging networks. Applied Innovation's industry-leading solutions include sophisticated remote site management, 3G network data quality monitoring and logical security of critical networks. Applied Innovation is a certified TL 9000 registered company with solutions currently installed in more than 34,000 sites worldwide.
Headquartered in Dublin, Ohio, Applied is traded on NASDAQ under the symbol AINN. For more information, please visit the Company's Web site at http://www.AppliedInnovation.com.
About Kentrox
Kentrox is a leading supplier of high-speed network access equipment, including the recently-introduced and award-winning QoS appliance, Q-Series QoS access routers, DSU/CSUs, ATM access concentrators and wireless base station products. Its extensive customer base includes enterprises and small- to-medium offices, carriers, wireless service providers and government entities worldwide. Kentrox is based in Hillsboro, Oregon. Contact the company at 800-733-5511 or via the Web at www.kentrox.com.
About Investcorp Technology Partners
Investcorp Technology Partners is a leading growth and buyout investor in small and medium-sized technology businesses in North America and Europe. The team focuses on growth capital, buyout, corporate carveout and take-private transactions, generally investing between $15 million and $40 million of equity. Investcorp Technology Partners is part of Investcorp, a leading provider and manager of alternative investment products with over $10 billion in invested assets under management. Further information is available at www.investcorp.com.
Safe Harbor Statement
This communication contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, particularly those statements regarding the effects of the proposed merger and those preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," or similar expressions. Forward-looking statements relating to expectations about future results or events are based upon information available as of today's date, and there is no assumed obligation to update any of these statements. The forward-looking statements are not guarantees of future performance, and actual results may vary materially from the results and expectations discussed. For instance, although Applied Innovation and KEG Holdings, Inc. have signed an agreement for a subsidiary of KEG Holdings, Inc. to merge with and into Applied Innovation, there is no assurance that they will complete the proposed merger. The proposed merger may not occur if the companies do not receive necessary approval of Applied Innovation's stockholders, or if it is blocked by a governmental agency, or if either Applied Innovation or KEG Holdings, Inc. fail to satisfy other conditions to closing. Other risks and uncertainties to which the companies are subject are discussed in the companies' reports filed with the Securities and Exchange Commission (the "SEC") under the caption Risk Factors and elsewhere, including, without limitation, Applied Innovation's Annual Report on Form 10-K for the year ended December 31, 2005 (filed March 20, 2006), Quarterly Report on Form 10-Q for the quarter ended September 30, 2006 (filed November 13, 2006), Quarterly Report on Form 10-Q for the quarter ended June 30, 2006 (filed August 11, 2006), and Quarterly Report on Form 10-Q for the quarter ended March 31, 2006 (filed May 12, 2006). Copies of Applied Innovation's filings with the SEC can be obtained on Applied Innovation's website, or at the SEC's website at www.sec.gov. One or more of these factors have affected, and could affect Applied Innovation's business and financial results in future periods, and could cause actual results and issues related to the merger transaction to differ materially from plans and projections. Any forward-looking statement is qualified by reference to these risks, uncertainties and factors. Forward- looking statements speak only as of the date of the documents in which they are made. These risks, uncertainties and factors are not exclusive, and Applied Innovation undertakes no obligation to publicly update or review any forward-looking statements to reflect events or circumstances that may arise after the date of this release, except as required by law.
Source: Applied Innovation Inc.
QUALCOMM and Broadcom Agree to Dismiss Certain Patent Claims
- Settlement Eliminates Two of Several Jury Trials Scheduled for 2007; Other Cases and Trial Dates Are Unaffected -
QUALCOMM Incorporated today announced an agreement with Broadcom to dismiss with prejudice all claims and counterclaims associated with two patents belonging to Broadcom and two patents belonging to QUALCOMM. The agreement results in the dismissal of San Diego Federal Court Case No. 05 CV 1662 involving Broadcom's claims for infringement of the two now-dismissed Broadcom patents and eliminates the need for a trial that had been scheduled to begin on March 5, 2007. The agreement also includes the dismissal of infringement claims under two of QUALCOMM's patents in Case No. 05 CV 1392, also pending in federal court in San Diego. The remaining patent infringement claims between the parties in federal courts in San Diego and Orange County, Calif. are unaffected by the agreement.
The two dismissed Broadcom patents were among five that Broadcom initially asserted in complaints filed in May 2005 in the U.S. International Trade Commission (ITC) and in federal court in Orange County. Broadcom claimed that the two patents related to Bluetooth technology implemented in cell phones and cellular systems.
The two QUALCOMM patents affected by the agreement were among five QUALCOMM patents and four Broadcom patents remaining in a separate lawsuit filed in San Diego federal court in July 2005. Those patents had been divided among five separate jury trials scheduled to occur throughout 2007. The dismissal of the two QUALCOMM patents and related claims and counterclaims will eliminate the need for one of those five trials.
QUALCOMM Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2006 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
QUALCOMM is a registered trademark of QUALCOMM Incorporated. All other trademarks are the property of their respective owners.
QUALCOMM Contacts:
Emily Kilpatrick, Corporate Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Gilbert, Investor Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
Source: QUALCOMM Incorporated
QUALCOMM Incorporated today announced an agreement with Broadcom to dismiss with prejudice all claims and counterclaims associated with two patents belonging to Broadcom and two patents belonging to QUALCOMM. The agreement results in the dismissal of San Diego Federal Court Case No. 05 CV 1662 involving Broadcom's claims for infringement of the two now-dismissed Broadcom patents and eliminates the need for a trial that had been scheduled to begin on March 5, 2007. The agreement also includes the dismissal of infringement claims under two of QUALCOMM's patents in Case No. 05 CV 1392, also pending in federal court in San Diego. The remaining patent infringement claims between the parties in federal courts in San Diego and Orange County, Calif. are unaffected by the agreement.
The two dismissed Broadcom patents were among five that Broadcom initially asserted in complaints filed in May 2005 in the U.S. International Trade Commission (ITC) and in federal court in Orange County. Broadcom claimed that the two patents related to Bluetooth technology implemented in cell phones and cellular systems.
The two QUALCOMM patents affected by the agreement were among five QUALCOMM patents and four Broadcom patents remaining in a separate lawsuit filed in San Diego federal court in July 2005. Those patents had been divided among five separate jury trials scheduled to occur throughout 2007. The dismissal of the two QUALCOMM patents and related claims and counterclaims will eliminate the need for one of those five trials.
QUALCOMM Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2006 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
QUALCOMM is a registered trademark of QUALCOMM Incorporated. All other trademarks are the property of their respective owners.
QUALCOMM Contacts:
Emily Kilpatrick, Corporate Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Gilbert, Investor Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
Source: QUALCOMM Incorporated
CommScope Expects 1st-Quarter Sales Between $390 Million and $410 Million
Telecommunications equipment company CommScope Inc. said Friday it expects first-quarter sales between $390 million and $410 million and operating margins of 10.5 percent to 11.5 percent.
Analysts, on average, are looking for sales of $397.6 million, according to a poll by Thomson Financial. The midpoint of the company's quarterly guidance is above consensus.
CommScope also forecast 2007 sales between $1.72 billion and $1.76 billion, compared with Wall Street's $1.73 billion estimate.
"Despite volatile raw material costs, we continue to believe that we can achieve reasonable sales growth while increasing operating income by more than 20 percent, excluding special items," Jearld L. Leonhardt, chief financial officer, said in a statement.
CommScope shares rose $1.60, or 4.3 percent, to $38.70 in morning trading on the NYSE.
AP
Analysts, on average, are looking for sales of $397.6 million, according to a poll by Thomson Financial. The midpoint of the company's quarterly guidance is above consensus.
CommScope also forecast 2007 sales between $1.72 billion and $1.76 billion, compared with Wall Street's $1.73 billion estimate.
"Despite volatile raw material costs, we continue to believe that we can achieve reasonable sales growth while increasing operating income by more than 20 percent, excluding special items," Jearld L. Leonhardt, chief financial officer, said in a statement.
CommScope shares rose $1.60, or 4.3 percent, to $38.70 in morning trading on the NYSE.
AP
Federal Court Dismisses Antitrust Lawsuit Against Qualcomm Brought by Golden Bridge
Qualcomm Inc. on Friday said a federal court dismissed an antitrust lawsuit brought by Golden Bridge Technology Inc. against the chipmaker and six other companies.
The complaint, filed in 2005, charged that the defendants conspired to exclude Golden Bridge technology from a wireless industry standard. The U.S. District Court for the Eastern District of Texas dismissed the complaint on Feb. 16.
The six other defendants named in the lawsuit are electronics and wireless telecommunications companies Ericsson, Lucent (now Alcatel-Lucent), Motorola, Nokia, NTT DoCoMo and Panasonic.
Qualcomm said this is the second antitrust lawsuit to be dismissed in six months. In September, the U.S. District Court for the District of New Jersey dismissed an antitrust lawsuit by rival chipmaker Broadcom Corp.
Qualcomm shares rose 26 cents to $43.05 in morning trading on the Nasdaq Stock Market.
AP
The complaint, filed in 2005, charged that the defendants conspired to exclude Golden Bridge technology from a wireless industry standard. The U.S. District Court for the Eastern District of Texas dismissed the complaint on Feb. 16.
The six other defendants named in the lawsuit are electronics and wireless telecommunications companies Ericsson, Lucent (now Alcatel-Lucent), Motorola, Nokia, NTT DoCoMo and Panasonic.
Qualcomm said this is the second antitrust lawsuit to be dismissed in six months. In September, the U.S. District Court for the District of New Jersey dismissed an antitrust lawsuit by rival chipmaker Broadcom Corp.
Qualcomm shares rose 26 cents to $43.05 in morning trading on the Nasdaq Stock Market.
AP
Applied Innovation to be acquired
Applied Innovation Inc. said Friday it has agreed to be acquired by an Oregon company.
KEG Holdings Inc. has offered to pay $3.45 a share for Applied Innovation's outstanding stock, or roughly $52.7 million.
Based on Thursday's closing price of $3.20, shareholders will receive a 7.8 percent premium.
The boards of both companies have approved the proposed transaction. Applied Innovation Founder and a director Gerard B. Moersdorf, who has voting rights for about 37 percent of the Dublin company's shares, has also signed off on the deal.
Applied expects the sale to be completed by the end of its second quarter. Once the deal closes, Investcorp Technology Partners, an investor in KEG Holdings, will own a controlling interest in the combined company.
KEG Holdings is the parent of Hillsboro, Ore.-based high-speed network access equipment supplier Kentrox LLC.
"By bringing together the technical and service capabilities of Applied Innovation and Kentrox, our telecommunications customers will have expanded access to more advanced products," Applied Innovation President and CEO William H. Largent said in a release.
KEG Holdings President and CEO Jeff Estuesta said the company plans to retain Applied Innovation's workers after the deal. Applied Innovation representatives were unavailable immediately to say how many it employed.
The company provides hardware and software for equipment to monitor expansions and upgrades of telecommunication networks. It earned $3.35 million, or 21 cents a share, on revenue of $30.6 million in 2006.
Business First
KEG Holdings Inc. has offered to pay $3.45 a share for Applied Innovation's outstanding stock, or roughly $52.7 million.
Based on Thursday's closing price of $3.20, shareholders will receive a 7.8 percent premium.
The boards of both companies have approved the proposed transaction. Applied Innovation Founder and a director Gerard B. Moersdorf, who has voting rights for about 37 percent of the Dublin company's shares, has also signed off on the deal.
Applied expects the sale to be completed by the end of its second quarter. Once the deal closes, Investcorp Technology Partners, an investor in KEG Holdings, will own a controlling interest in the combined company.
KEG Holdings is the parent of Hillsboro, Ore.-based high-speed network access equipment supplier Kentrox LLC.
"By bringing together the technical and service capabilities of Applied Innovation and Kentrox, our telecommunications customers will have expanded access to more advanced products," Applied Innovation President and CEO William H. Largent said in a release.
KEG Holdings President and CEO Jeff Estuesta said the company plans to retain Applied Innovation's workers after the deal. Applied Innovation representatives were unavailable immediately to say how many it employed.
The company provides hardware and software for equipment to monitor expansions and upgrades of telecommunication networks. It earned $3.35 million, or 21 cents a share, on revenue of $30.6 million in 2006.
Business First
Qualcomm, Broadcom Settle Dispute Over 2 Patent Cases, Others Still Headed for Trial
Qualcomm Inc. said Friday it has agreed with rival chipmaker Broadcom Corp. to end a dispute over two cases over patents held by the companies.
Financial terms and details were not disclosed.
The settlement eliminates two of several jury trials scheduled for this year between the rivals -- one involving Broadcom claims that Qualcomm infringed two of its patents and another in which Qualcomm claimed its competitor violated two of its patents.
Both cases were pending in federal court in San Diego.
The remaining patent infringement lawsuits between the companies are unaffected by this agreement. Qualcomm said it has four trials scheduled for 2007.
Qualcomm shares rose 57 cents to $42.36, while Broadcom rose 4 cents to $36.46, both in afternoon trading on the Nasdaq Stock Market.
AP
Financial terms and details were not disclosed.
The settlement eliminates two of several jury trials scheduled for this year between the rivals -- one involving Broadcom claims that Qualcomm infringed two of its patents and another in which Qualcomm claimed its competitor violated two of its patents.
Both cases were pending in federal court in San Diego.
The remaining patent infringement lawsuits between the companies are unaffected by this agreement. Qualcomm said it has four trials scheduled for 2007.
Qualcomm shares rose 57 cents to $42.36, while Broadcom rose 4 cents to $36.46, both in afternoon trading on the Nasdaq Stock Market.
AP
Alcatel-Lucent to Eliminate Another 1,700 Jobs in Europe
Alcatel-Lucent SA told staff representatives Friday it will eliminate over 1,700 European jobs in addition to cuts already announced in France, a union official said.
The telecom equipment maker plans to cut a total of 12,500 jobs over three years -- or about 16 percent of the global work force -- as it seeks euro1.7 billion (US$2.2 billion) annual savings from the acquisition of New Jersey-based Lucent Technologies by France's Alcatel, completed last November.
Alcatel-Lucent executives told staff representatives they plan to shed 877 jobs in Germany, 310 in Spain, 250-280 in Italy, 140-180 in the Netherlands and 140 in Belgium, said Patrick Moreau, an official with France's left-wing CGT labor union.
The company last week announced the elimination of 1,468 positions in France by the end of 2008. Earlier this month, Alcatel-Lucent posted a euro618 million (US$803 million) loss in the fourth quarter amid tougher-than-expected market conditions, particularly in North America, and merger-related uncertainty among customers.
AP
The telecom equipment maker plans to cut a total of 12,500 jobs over three years -- or about 16 percent of the global work force -- as it seeks euro1.7 billion (US$2.2 billion) annual savings from the acquisition of New Jersey-based Lucent Technologies by France's Alcatel, completed last November.
Alcatel-Lucent executives told staff representatives they plan to shed 877 jobs in Germany, 310 in Spain, 250-280 in Italy, 140-180 in the Netherlands and 140 in Belgium, said Patrick Moreau, an official with France's left-wing CGT labor union.
The company last week announced the elimination of 1,468 positions in France by the end of 2008. Earlier this month, Alcatel-Lucent posted a euro618 million (US$803 million) loss in the fourth quarter amid tougher-than-expected market conditions, particularly in North America, and merger-related uncertainty among customers.
AP
mPhase Technologies to Post a Video on YouTube Today at 5 P.M. to Explain Its Ultra-Sensitive Magnetometer Technology
mPhase Technologies (www.mphasetech.com) at 5 p.m. this afternoon will post a video demonstration of its ultra-sensitive sensor magnetometer on the popular YouTube web site (http://www.youtube.com). The video is the second video production the company has produced to help investors understand both its technology and its markets. A link to the YouTube magnetometer video will be posted on the mPhase Technologies home page (www.mphasetech.com) upon the premiere on YouTube.
The company's video on its nano battery posted last Friday garnered a number of "honors" from the popular video site, including "top rated, most viewed, most discussed and top favorites."
"Based on the success of our nano battery video posted on You Tube last week, we will release a video today to explain our magnetometer project so investors will better understand the nature of our technology," said mPhase Technologies, Inc. CEO, Ron Durando. "The extreme advantage of size, sensitivity and low cost allows us to develop the next generation of military and homeland security sensor applications while also addressing a number of commercial markets as well."
WHAT: mPhase Technologies, a company which develops and commercializes next-generation and media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce cost, this afternoon will post a video on YouTube, explaining in layman's terms the technology behind its breakthrough development of an ultra-sensitive magnetometer.
WHERE: www.YouTube.com at 5 p.m. this afternoon.
About mPhase Technologies, Inc.
mPhase Technologies Inc. (OTC: XDSL - News) develops and commercializes next-generation media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. The company was awarded the Frost & Sullivan 2006 Energy Storage Award for the Nanobattery in September and earlier received the 2005 Frost & Sullivan Excellence in Technology Award, and the Nano 50 Award from NASA Nanotech Briefs, is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life power cell. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise orders of magnitude increases in sensitivity as compared with available un-cooled sensors. More information is available at the mPhase Web site at www.mPhaseTech.com
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5341272
Contact:
Investor Relations:
Rubenstein Investor Relations
Tim Clemensen, 212-843-9337
tclemensen@rubensteinir.com
or
News Media: Public Relations
Rubenstein Associates
Peter Hamilton, 212-843-8015
phamil@rubenstein.com
Source: mPhase Technologies, Inc.
The company's video on its nano battery posted last Friday garnered a number of "honors" from the popular video site, including "top rated, most viewed, most discussed and top favorites."
"Based on the success of our nano battery video posted on You Tube last week, we will release a video today to explain our magnetometer project so investors will better understand the nature of our technology," said mPhase Technologies, Inc. CEO, Ron Durando. "The extreme advantage of size, sensitivity and low cost allows us to develop the next generation of military and homeland security sensor applications while also addressing a number of commercial markets as well."
WHAT: mPhase Technologies, a company which develops and commercializes next-generation and media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce cost, this afternoon will post a video on YouTube, explaining in layman's terms the technology behind its breakthrough development of an ultra-sensitive magnetometer.
WHERE: www.YouTube.com at 5 p.m. this afternoon.
About mPhase Technologies, Inc.
mPhase Technologies Inc. (OTC: XDSL - News) develops and commercializes next-generation media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. The company was awarded the Frost & Sullivan 2006 Energy Storage Award for the Nanobattery in September and earlier received the 2005 Frost & Sullivan Excellence in Technology Award, and the Nano 50 Award from NASA Nanotech Briefs, is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life power cell. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise orders of magnitude increases in sensitivity as compared with available un-cooled sensors. More information is available at the mPhase Web site at www.mPhaseTech.com
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5341272
Contact:
Investor Relations:
Rubenstein Investor Relations
Tim Clemensen, 212-843-9337
tclemensen@rubensteinir.com
or
News Media: Public Relations
Rubenstein Associates
Peter Hamilton, 212-843-8015
phamil@rubenstein.com
Source: mPhase Technologies, Inc.
Broadcom, Qualcomm settle some patent cases
Broadcom Corp. and Qualcomm Inc. have settled disputes over two pairs of patents which will eliminate two of several jury trials scheduled between the companies this year, according to news reports.
One of the settlements involves Broadcom claims that Qualcomm infringed on two of its patents, the other settlement is over two patent infringement claims Qualcomm has filed against Broadcom. Both sets of patents had to do with Bluetooth technology in cellular phones, according to the Wall Street Journal.
Both cases were pending in federal court in San Diego. Terms of the settlements were not disclosed.
Irvine-based Broadcom (NASDAQ: BRCM - News) designs, develops and supplies semiconductors for wired and wireless communications markets.
Los Angeles Business from bizjournals
One of the settlements involves Broadcom claims that Qualcomm infringed on two of its patents, the other settlement is over two patent infringement claims Qualcomm has filed against Broadcom. Both sets of patents had to do with Bluetooth technology in cellular phones, according to the Wall Street Journal.
Both cases were pending in federal court in San Diego. Terms of the settlements were not disclosed.
Irvine-based Broadcom (NASDAQ: BRCM - News) designs, develops and supplies semiconductors for wired and wireless communications markets.
Los Angeles Business from bizjournals
Thousands of Office Personnel Walk Out in Protest at Two Nokia Plants in Finland
Thousands of Nokia workers walked off their jobs Friday afternoon to protest company policy, including planned layoffs, union organizers said.
The brief walkout, by office personnel at Nokia Corp.'s Tampere and Oulu units, began a few hours before workers were due to end their normal working day, union leaders said. The two plants employ more than 8,500 people, but it was not immediately clear how many participated in the action.
Employees planned to return to work on Monday, and no other action was planned, officials said.
The workers were protesting the company's announcement last week that it would lay off up to 700 people globally -- about half of them in Finland, where it employs some 24,000 people. They also objected to cuts in bonuses paid to workers despite the company's good fourth-quarter and full-year 2006 earnings report.
"We left work a little bit early today in an attempt to reduce the bad feeling," said Jarmo Talvitie, a shop steward at Nokia's Tampere offices, 100 miles north of the capital, Helsinki.
Jukka Kivari, chairman of senior office workers union in Oulu, 370 miles north of Helsinki, said the workers objected to reduced bonuses and the planned layoffs.
Nokia, the world's largest mobile phone maker and Finland's biggest company, said it was surprised by the protest as talks to reduce staff were still continuing. It said it would try to re-employ workers in other units.
In 2006, Nokia rotated 10,000 personnel into new positions within the group. At the end of the year, it employed 68,000 people worldwide -- an increase of 16 percent on 2005.
"We are surprised by this action because we want as good a result as possible from these negotiations," Nokia spokeswoman Arja Suominen said. "The talks will continue."
Suominen said Nokia had not paid bonuses at the end of 2006 because units had failed to reach their targets.
Nokia's share price in Helsinki closed at 17.35 euros ($22.79), unchanged from Thursday.
Nokia: http://www.nokia.com
The brief walkout, by office personnel at Nokia Corp.'s Tampere and Oulu units, began a few hours before workers were due to end their normal working day, union leaders said. The two plants employ more than 8,500 people, but it was not immediately clear how many participated in the action.
Employees planned to return to work on Monday, and no other action was planned, officials said.
The workers were protesting the company's announcement last week that it would lay off up to 700 people globally -- about half of them in Finland, where it employs some 24,000 people. They also objected to cuts in bonuses paid to workers despite the company's good fourth-quarter and full-year 2006 earnings report.
"We left work a little bit early today in an attempt to reduce the bad feeling," said Jarmo Talvitie, a shop steward at Nokia's Tampere offices, 100 miles north of the capital, Helsinki.
Jukka Kivari, chairman of senior office workers union in Oulu, 370 miles north of Helsinki, said the workers objected to reduced bonuses and the planned layoffs.
Nokia, the world's largest mobile phone maker and Finland's biggest company, said it was surprised by the protest as talks to reduce staff were still continuing. It said it would try to re-employ workers in other units.
In 2006, Nokia rotated 10,000 personnel into new positions within the group. At the end of the year, it employed 68,000 people worldwide -- an increase of 16 percent on 2005.
"We are surprised by this action because we want as good a result as possible from these negotiations," Nokia spokeswoman Arja Suominen said. "The talks will continue."
Suominen said Nokia had not paid bonuses at the end of 2006 because units had failed to reach their targets.
Nokia's share price in Helsinki closed at 17.35 euros ($22.79), unchanged from Thursday.
Nokia: http://www.nokia.com
KEG Holdings Plans to Buy Telecom Firm Applied Innovation for $52.7 Million
Telecommunications networking firm Applied Innovation Inc. said Friday it agreed to be acquired by privately held KEG Holdings Inc. in a cash deal worth $52.7 million.
Applied Innovation said it agreed to the $3.45 per-share takeover by KEG, the Hillsboro-Ore.-based parent company of network equipment maker Kentrox LLC.
When the transaction is complete, investment firm Investcorp Technology Partners will have a controlling stake in KEG Holdings, Applied Innovation said in a prepared statement.
The boards of directors of both companies and Applied Innovation's founder, Gerard B. Moersdorf, approved the transaction, Applied Innovation said.
The deal is expected to close by the end of the second quarter. Shares of Applied Innovation were up 15 cents, or 4.7 percent, to $3.35 in midday trading on the Nasdaq Stock Market.
AP
Applied Innovation said it agreed to the $3.45 per-share takeover by KEG, the Hillsboro-Ore.-based parent company of network equipment maker Kentrox LLC.
When the transaction is complete, investment firm Investcorp Technology Partners will have a controlling stake in KEG Holdings, Applied Innovation said in a prepared statement.
The boards of directors of both companies and Applied Innovation's founder, Gerard B. Moersdorf, approved the transaction, Applied Innovation said.
The deal is expected to close by the end of the second quarter. Shares of Applied Innovation were up 15 cents, or 4.7 percent, to $3.35 in midday trading on the Nasdaq Stock Market.
AP
Philippine Shares Rise 0.7 Percent as Market Continues to Attract Investors
Philippine shares rose Friday as the market continued to attract investors seeking better returns after treasury bill yields hit record lows earlier in the week.
The 30-company Philippine Stock Exchange Index advanced 23.84 points, or 0.7 percent, to 3,389.37, up from 3,365.53 Thursday.
"The market is encountering resistance at 3,400. But that will not stop it from trying to test that level again early next week," said RCBC Securities manager for securities and stock market Chelsea Dipasupil, adding that the outlook remained bullish.
PNOC-Energy Development Corp., the most active stock, rose 12 percent to 6.60 pesos on talk that government financial institutions were buying it up for their investment portfolios.
Philippine Long Distance Telephone Co. rose 0.6 percent to 2,610 pesos, and Ayala Corp. was higher by 1.6 percent at 620 pesos.
Advancers led decliners 97 to 35, while 12 stocks were unchanged.
The peso gained strength in moderate volume a day after monetary authorities issued new foreign exchange rules that further liberalized currency trading in the Philippines, including doubling to $12 million the amount that companies could invest overseas without prior central bank approval.
The dollar closed at 48.155 pesos down from 48.300 pesos Thursday.
AP
The 30-company Philippine Stock Exchange Index advanced 23.84 points, or 0.7 percent, to 3,389.37, up from 3,365.53 Thursday.
"The market is encountering resistance at 3,400. But that will not stop it from trying to test that level again early next week," said RCBC Securities manager for securities and stock market Chelsea Dipasupil, adding that the outlook remained bullish.
PNOC-Energy Development Corp., the most active stock, rose 12 percent to 6.60 pesos on talk that government financial institutions were buying it up for their investment portfolios.
Philippine Long Distance Telephone Co. rose 0.6 percent to 2,610 pesos, and Ayala Corp. was higher by 1.6 percent at 620 pesos.
Advancers led decliners 97 to 35, while 12 stocks were unchanged.
The peso gained strength in moderate volume a day after monetary authorities issued new foreign exchange rules that further liberalized currency trading in the Philippines, including doubling to $12 million the amount that companies could invest overseas without prior central bank approval.
The dollar closed at 48.155 pesos down from 48.300 pesos Thursday.
AP
Navteq Signs Deal With Telefonica Division Maptel Networks
Navteq Corp., which makes navigation systems for cars, said Thursday it signed a deal allowing a division of Spain-based telecommunications giant Telefonica SA to offer mapping solutions and services using Navteq's maps to the Spanish market.
Financial terms of the agreement were not disclosed.
Maptel Networks will give its customers access to Navteq's map data catalog in 59 countries and support for international expansion. The company also plans to build on Navteq solutions including data inventories, aerial photography and 3D city maps.
Maptel offers digital maps, online localization services and geographic information solutions.
AP
Financial terms of the agreement were not disclosed.
Maptel Networks will give its customers access to Navteq's map data catalog in 59 countries and support for international expansion. The company also plans to build on Navteq solutions including data inventories, aerial photography and 3D city maps.
Maptel offers digital maps, online localization services and geographic information solutions.
AP
SureWest Communications to Freeze Pension Plan
Leading independent telecommunications holding company SureWest Communications announced that it will amend and freeze its Defined Benefit Pension Plan effective April 1, 2007.
The amendment closes the plan to future employees and discontinues future benefit accruals for current employees. No employees will lose their previously earned pension benefit; it will be paid to the employee after retirement.
The Company has also introduced its Total Rewards Program, connect2success, which is putting in place other forms of employee benefits such as enhanced educational reimbursement options, enhanced employee recognition programs and revisions to certain compensation policies.
SureWest has a Defined Contribution KSOP plan in place for all employees, and the company currently provides a match of 100% of contributions up to 6% of pay. The KSOP plan will remain in place and the company is considering enhancing the KSOP plan by adding features such as loan provisions, automatic enrollment and additional investment choices.
"We have worked very hard to develop a total compensation and benefit package that rewards outstanding performance and meets the needs of our employees," commented Steve Oldham, SureWest's president and chief executive officer. "The changes we have made to the pension plan are consistent with what is occurring throughout the country. What we have found is that only a very small percentage of our current employees will ultimately get full benefit from the current pension plan, so it makes absolute sense to freeze that benefit and reward employees in other ways."
Cash contributions to the Defined Benefit Pension Plan have ranged from $3 million to $9 million over the last 5 years. Annual service cost has averaged approximately $5 million over that same time frame.
About SureWest Communications
Serving the Northern California region for more than 90 years, SureWest Communications (www.surewest.com) is one of the nation's leading integrated communications providers. SureWest's bundled offerings include an array of advanced digital video, high-speed Internet, local and long distance telephone, PCS wireless and directories services. SureWest's fiber-to-the- premise IP-based network features high-definition video and Internet speeds of up to 50 Mbps.
Safe Harbor Statement
Statements made in this news release that are not historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements may be identified by the use of words such as may, will, should, expect, plan, anticipate, or project or the negative of those words or other comparable words. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the company's actual results to differ from those projected in such forward-looking statements.
Important factors that could cause actual results to differ from those set forth in the forward-looking statements include, but are not limited to: advances in telecommunications technology, changes in the telecommunications regulatory environment, changes in the financial stability of other telecommunications providers who are customers of the company, changes in competition in markets in which the company operates, adverse circumstances affecting the economy in California in general, and in the Sacramento, California Metropolitan area in particular, the availability of future financing, changes in the demand for services and products, new product and service development and introductions, and pending and future litigation.
Contact: Karlyn Oberg
Director of Investor Relations
916-786-1799
k.oberg@surewest.com
Source: SureWest Communications
The amendment closes the plan to future employees and discontinues future benefit accruals for current employees. No employees will lose their previously earned pension benefit; it will be paid to the employee after retirement.
The Company has also introduced its Total Rewards Program, connect2success, which is putting in place other forms of employee benefits such as enhanced educational reimbursement options, enhanced employee recognition programs and revisions to certain compensation policies.
SureWest has a Defined Contribution KSOP plan in place for all employees, and the company currently provides a match of 100% of contributions up to 6% of pay. The KSOP plan will remain in place and the company is considering enhancing the KSOP plan by adding features such as loan provisions, automatic enrollment and additional investment choices.
"We have worked very hard to develop a total compensation and benefit package that rewards outstanding performance and meets the needs of our employees," commented Steve Oldham, SureWest's president and chief executive officer. "The changes we have made to the pension plan are consistent with what is occurring throughout the country. What we have found is that only a very small percentage of our current employees will ultimately get full benefit from the current pension plan, so it makes absolute sense to freeze that benefit and reward employees in other ways."
Cash contributions to the Defined Benefit Pension Plan have ranged from $3 million to $9 million over the last 5 years. Annual service cost has averaged approximately $5 million over that same time frame.
About SureWest Communications
Serving the Northern California region for more than 90 years, SureWest Communications (www.surewest.com) is one of the nation's leading integrated communications providers. SureWest's bundled offerings include an array of advanced digital video, high-speed Internet, local and long distance telephone, PCS wireless and directories services. SureWest's fiber-to-the- premise IP-based network features high-definition video and Internet speeds of up to 50 Mbps.
Safe Harbor Statement
Statements made in this news release that are not historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements may be identified by the use of words such as may, will, should, expect, plan, anticipate, or project or the negative of those words or other comparable words. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the company's actual results to differ from those projected in such forward-looking statements.
Important factors that could cause actual results to differ from those set forth in the forward-looking statements include, but are not limited to: advances in telecommunications technology, changes in the telecommunications regulatory environment, changes in the financial stability of other telecommunications providers who are customers of the company, changes in competition in markets in which the company operates, adverse circumstances affecting the economy in California in general, and in the Sacramento, California Metropolitan area in particular, the availability of future financing, changes in the demand for services and products, new product and service development and introductions, and pending and future litigation.
Contact: Karlyn Oberg
Director of Investor Relations
916-786-1799
k.oberg@surewest.com
Source: SureWest Communications
Zi Corporation and Marty Steinberg, Receiver for the Lancer Funds, Enter Into Settlement Agreement
Zi Corporation, and Marty Steinberg, solely in his capacity as court appointed receiver (the "Receiver") of Lancer Management Group LLC and certain related entities (the "Lancer Entities"), jointly announced today that they have entered into an agreement (the "Settlement Agreement") to settle any and all outstanding claims and issues between the Receiver, the Lancer Entities and the Corporation.
The settlement is conditioned upon the Receiver securing orders from the United States District Court for the Southern District of Florida and the United States Bankruptcy Court for the Southern District of Florida, authorizing the Receiver to execute the Settlement Agreement on behalf of the Lancer Entities. The settlement is also conditioned upon the Alberta Securities Commission dismissing with prejudice Zi's pending action against the Receiver, which dismissal is not expected to be contentious. The date of receipt of such orders and dismissal will be the effective date of the Settlement Agreement (the "Effective Date"). The Effective Date must occur within 120 days of the date of execution of the Settlement Agreement
Pursuant to the Settlement Agreement, as at the Effective Date, the Receiver and the Corporation have agreed to immediately discontinue, with prejudice, all litigation and regulatory proceedings of any kind. In addition, as of the Effective Date, the Receiver, the Corporation and the current and certain former directors of the Corporation have agreed to deliver mutual releases.
Zi Corporation President and Chief Executive Office Milos Djokovic said that the Settlement Agreement with the Receiver brings to a mutually favorable close a difficult and complex issue. "This removes a hurdle we often had to face in our negotiations for new business or financing alternatives," Djokovic added. "We will now be able to devote more of management's time and the Company's resources to the tasks required to grow our business."
The Corporation also acknowledges as of the Effective Date that the Receiver has the power and authority to exercise, on behalf of the Lancer Entities, all rights and privileges with respect to all of the shares in Zi Corporation held by the Receiver.
The Corporation, the Receiver and Michael Lobsinger (who is also a party to the Settlement Agreement) have agreed on a process for nominating directors to be elected at the 2007 Annual General Meeting of the Corporation. The Receiver will be entitled to designate two persons as director nominees and Michael Lobsinger will be entitled to designate two persons as director nominees for election at the 2007 annual general meeting, and continuing through to the nominations for the 2008 Annual General Meeting. These nomination rights could end earlier if share ownership positions of the Receiver or Michael Lobsinger respectively, fall below certain thresholds.
Not less than five and not more than six directors will be proposed for election at the 2007 annual general meeting. The current directors designated for the purposes of the Settlement Agreement as the Receiver's nominees to the board are Donald Moore and Robert Stefanski, and the current directors that are designated for purposes of the Settlement Agreement as Mr. Lobsinger's nominees are Richard Tingle and Donald Hyde. Notwithstanding these designations for the purposes of the Settlement Agreement, each of these directors continues to act as independent directors.
Mr. Lobsinger will resign as a director of the Corporation and all of its subsidiaries on the Effective Date, but will remain as a consultant of the Corporation until December 31, 2007, although he has agreed to provide such services without significant remuneration.
It is intended that the Receiver will make application immediately to obtain the Court orders in order to give full effect to the Settlement Agreement.
About Zi Corporation
Zi Corporation (www.zicorp.com) is a technology company that delivers intelligent interface solutions to enhance the user experience of wireless and consumer technologies. The company provides device manufacturers and network operators with a full range of intuitive and easy-to-use input solutions, including: eZiType(TM) for keyboard prediction with auto-correction; eZiText® for one-touch predictive text entry; Decuma® for predictive pen-input handwriting recognition; and the Qixsearch and service discovery engine to enhance the user experience and drive service usage and adoption. The Zi product portfolio dramatically improves the usability of mobile phones, PDAs, gaming consoles and television set-top boxes and the applications on them including SMS, MMS, email and Web browsing. Zi supports its strategic partners and customers from offices in Asia, Europe and North America. A publicly traded company, Zi Corporation is listed on NASDAQ (ZICA) and the Toronto Stock Exchange (ZIC).
This release may be deemed to contain forward-looking statements, which are subject to the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Zi Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: the growth trends in the input technology industry; new product development; global economic conditions and uncertainties in the geopolitical environment; financial and operating performance of Zi's OEM customers and variations in their customer demand for products and services; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; matters affecting Zi Corporation's significant shareholder; litigation involving patents, intellectual property, and other matters; the ability to recruit and retain key personnel; Zi Corporation's ability to manage financial risk; currency fluctuations and other international factors; potential volatility in operating results and other factors listed in Zi Corporation's filings with the Securities and Exchange Commission. Any projections in this release are based on limited information currently available to Zi Corporation, which is subject to change. Although any such projections and the factors influencing them will likely change, except to the extent required by law, Zi Corporation will not necessarily update the information. Such information speaks only as of the date of this release.
Zi, eZiType, eZiText, Decuma and Qix are either trademarks or registered trademarks of the Zi Group of Companies. All other trademarks are the property of their respective owners.
Contacts:
For Zi Corporation:
Allen & Caron Inc.
Jill Bertotti
(949) 474-4300
Email: jill@allencaron.com
Source: Zi Corporation
The settlement is conditioned upon the Receiver securing orders from the United States District Court for the Southern District of Florida and the United States Bankruptcy Court for the Southern District of Florida, authorizing the Receiver to execute the Settlement Agreement on behalf of the Lancer Entities. The settlement is also conditioned upon the Alberta Securities Commission dismissing with prejudice Zi's pending action against the Receiver, which dismissal is not expected to be contentious. The date of receipt of such orders and dismissal will be the effective date of the Settlement Agreement (the "Effective Date"). The Effective Date must occur within 120 days of the date of execution of the Settlement Agreement
Pursuant to the Settlement Agreement, as at the Effective Date, the Receiver and the Corporation have agreed to immediately discontinue, with prejudice, all litigation and regulatory proceedings of any kind. In addition, as of the Effective Date, the Receiver, the Corporation and the current and certain former directors of the Corporation have agreed to deliver mutual releases.
Zi Corporation President and Chief Executive Office Milos Djokovic said that the Settlement Agreement with the Receiver brings to a mutually favorable close a difficult and complex issue. "This removes a hurdle we often had to face in our negotiations for new business or financing alternatives," Djokovic added. "We will now be able to devote more of management's time and the Company's resources to the tasks required to grow our business."
The Corporation also acknowledges as of the Effective Date that the Receiver has the power and authority to exercise, on behalf of the Lancer Entities, all rights and privileges with respect to all of the shares in Zi Corporation held by the Receiver.
The Corporation, the Receiver and Michael Lobsinger (who is also a party to the Settlement Agreement) have agreed on a process for nominating directors to be elected at the 2007 Annual General Meeting of the Corporation. The Receiver will be entitled to designate two persons as director nominees and Michael Lobsinger will be entitled to designate two persons as director nominees for election at the 2007 annual general meeting, and continuing through to the nominations for the 2008 Annual General Meeting. These nomination rights could end earlier if share ownership positions of the Receiver or Michael Lobsinger respectively, fall below certain thresholds.
Not less than five and not more than six directors will be proposed for election at the 2007 annual general meeting. The current directors designated for the purposes of the Settlement Agreement as the Receiver's nominees to the board are Donald Moore and Robert Stefanski, and the current directors that are designated for purposes of the Settlement Agreement as Mr. Lobsinger's nominees are Richard Tingle and Donald Hyde. Notwithstanding these designations for the purposes of the Settlement Agreement, each of these directors continues to act as independent directors.
Mr. Lobsinger will resign as a director of the Corporation and all of its subsidiaries on the Effective Date, but will remain as a consultant of the Corporation until December 31, 2007, although he has agreed to provide such services without significant remuneration.
It is intended that the Receiver will make application immediately to obtain the Court orders in order to give full effect to the Settlement Agreement.
About Zi Corporation
Zi Corporation (www.zicorp.com) is a technology company that delivers intelligent interface solutions to enhance the user experience of wireless and consumer technologies. The company provides device manufacturers and network operators with a full range of intuitive and easy-to-use input solutions, including: eZiType(TM) for keyboard prediction with auto-correction; eZiText® for one-touch predictive text entry; Decuma® for predictive pen-input handwriting recognition; and the Qixsearch and service discovery engine to enhance the user experience and drive service usage and adoption. The Zi product portfolio dramatically improves the usability of mobile phones, PDAs, gaming consoles and television set-top boxes and the applications on them including SMS, MMS, email and Web browsing. Zi supports its strategic partners and customers from offices in Asia, Europe and North America. A publicly traded company, Zi Corporation is listed on NASDAQ (ZICA) and the Toronto Stock Exchange (ZIC).
This release may be deemed to contain forward-looking statements, which are subject to the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of Zi Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: the growth trends in the input technology industry; new product development; global economic conditions and uncertainties in the geopolitical environment; financial and operating performance of Zi's OEM customers and variations in their customer demand for products and services; the ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; matters affecting Zi Corporation's significant shareholder; litigation involving patents, intellectual property, and other matters; the ability to recruit and retain key personnel; Zi Corporation's ability to manage financial risk; currency fluctuations and other international factors; potential volatility in operating results and other factors listed in Zi Corporation's filings with the Securities and Exchange Commission. Any projections in this release are based on limited information currently available to Zi Corporation, which is subject to change. Although any such projections and the factors influencing them will likely change, except to the extent required by law, Zi Corporation will not necessarily update the information. Such information speaks only as of the date of this release.
Zi, eZiType, eZiText, Decuma and Qix are either trademarks or registered trademarks of the Zi Group of Companies. All other trademarks are the property of their respective owners.
Contacts:
For Zi Corporation:
Allen & Caron Inc.
Jill Bertotti
(949) 474-4300
Email: jill@allencaron.com
Source: Zi Corporation
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