- 2025/07/05
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[PR]
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プレスリリース、開示情報のアーカイブ
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“We will seek to ensure that all relevant information is disclosed so that shareholder interests are protected in terms of price and information.”
“Our potential lawsuit will ascertain whether the company has been adequately and fairly shopped,” said Hamilton Lindley. “We will seek to ensure that all relevant information is disclosed so that shareholder interests are protected in terms of price and information.”
Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. MEDW stockholders – or anyone with knowledge about this acquisition – should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855 with questions or concerns.
Goldfarb LLP
Hamilton Lindley, 214-583-2233
Toll Free Telephone: 877-583-2855
Fax Number: 214-583-2234
www.goldfarbllp.com
The dividend of $0.265 per share would equate to an annual dividend payment for the last four quarters of $1.105 per share.
The Fund's investment objective is to seek a high rate of return from interest income and trading activity. The Fund will also seek capital appreciation by purchasing debt securities at prices that the Fund’s advisor, Cutwater Investor Services Corp., believes are below their intrinsic value. The Fund will also look to benefit from trading securities to optimize the risk adjusted yields.
A portion of a Fund's current distribution may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Fund. As required under the Investment Company Act of 1940, as amended, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. Such notice will also be posted to the Fund’s website at www.cutwater.com. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.
Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.
An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing.
Declaration Date: September 12, 2012
Cutwater Select Income Fund
Gautam Khanna, 866-333-6685
Een persbericht betreffende de resultaten wordt vrijgegeven voor de start van het gesprek op dezelfde dag. Voor toegang tot het conferentiegesprek moeten luisteraars ongeveer tien minuten voor de aanvang de Conference Call Operator benaderen via + 1-800-230-1059 in Noord-Amerika of +1-612-234-9959 buiten Noord-Amerika en vragen naar "Schlumberger Earnings Conference Call".
Deze bekendmaking is officieel geldend in de originele brontaal. Vertalingen zijn slechts als leeshulp bedoeld en moeten worden vergeleken met de tekst in de brontaal welke als enige juridische geldigheid beoogt.
Schlumberger Limited
Malcolm Theobald, + 1 (713) 375-3535
Vice President of Investor Relations
or
Joy V. Domingo, + 1 (713) 375-3535
Manager of Investor Relations
investor-relations@slb.com
--$169.4 million higher education revenue and revenue & refunding improvement bonds (TCU project) at 'AA-';
--$130 million higher education variable-rate demand bonds (VRDBs) (TCU Project) at 'AA-/F1+'.
The Rating Outlook is Stable.
SECURITY
The bonds are an unsecured general obligation of TCU.
KEY RATING DRIVERS
STRONG FINANCIAL PROFILE UNDERPINS RATING: The 'AA-' reflects steady, positive operating results, driven by favorable enrollment trends and robust financial management practices, and a solid level of balance sheet resources.
LIMITED REVENUE DIVERSITY: Similar to other private colleges and universities, TCU remains heavily dependent on student generated revenues. Concern is partly offset by management's conservative enrollment forecasting, track-record of stable enrollment trends, and ample demand flexibility.
MANAGEABLE CAPITAL PLANS: Periodic investment and re-investment in facilities has produced a high debt burden. TCU's consistent generation of adequate MADS coverage from operations and strong level of financial resources relative to debt mitigates this concern. Fitch expects these financial metrics to remain relatively stable.
RESOURCE SUFFICIENCY: The 'F1+' rating is based on TCU's ability to cover the maximum potential liquidity demands presented by its variable rate debt by at least 1.25 times (x) from internal, highly liquid resources and a dedicated liquidity facility.
CREDIT PROFILE
TCU has consistently produced positive adjusted operating margins in the past five years, ranging from 4.9% (fiscal 2011) to 7.9% (fiscal 2008). These results are supported by strong and steady financial management, as reflected in TCU's conservative budgeting practices, long-term planning, and close monitoring of revenue and expenditure growth. The effectiveness of these prudent strategies is also evident in TCU's interim fiscal 2012 financials, which point to another year of positive operating performance.
TCU's high reliance on student charges for operations (72.4% of adjusted unrestricted fiscal 2011 revenues) underscores the importance of effective enrollment management. Over the past five years, total headcount enrollment has increased by an average rate of 2.4%, to 9,518 in fall 2011. Over the same time, TCU maintained relatively stable, healthy levels of freshmen matriculation, yield, and retention.
Fitch believes that these favorable enrollment and demand trends partly offset concern related to high reliance on student charges and should support TCU's recently adopted goal of reaching 10,000 total headcount enrollment in the next few years.
Positive operating performance driven by TCU's healthy enrollment trends and prudent financial management practices have contributed to gradual restoration in TCU's financial cushion, following recession-related losses. Available funds, defined by Fitch as cash and investments not permanently restricted, totaled $992.4 million at the end of fiscal 2011.
Relative to fiscal 2011 operating expenses and pro-forma long-term debt (inclusive of the full amount of a $120 million draw down facility initiated in December 2010), TCU's available funds provided strong coverage of 3.1 times (x) and 2.3 x, respectively. Based on Fitch's review of TCU's investment report as of 5/31/12, Fitch believes that audited available funds in fiscal 2012 will be comparable to fiscal 2011.
Similar to many highly rated institutions, TCU utilizes bullet maturities for certain debt issues. For purposes of calculating MADS debt burden, Fitch smoothes bullet maturities by amortizing principal payments over the remaining life of the bonds. Under this approach, MADS of $36.5 million represents a high 11% of adjusted fiscal 2011 unrestricted operating revenues.
Concern regarding a debt burden of this magnitude is tempered by TCU's solid financial cushion and ability to consistently generate satisfactory MADS coverage from operations, which has averaged 1.5x over the past five years.
Importantly, MADS includes debt service payments on the aforementioned draw down loan facility, of which approximately $106 million is currently outstanding. TCU has already raised an impressive $142 million in pledges in a fundraising campaign dedicated solely to repaying the loan, with the receipt of funds materializing as planned to date.
TCU's management team is considering additional capital projects, including renovation and new construction related to academics and housing. Fitch positively notes that the university maintains flexibility with regards to timing and intends to fund any such project/s through a mixture of debt, fundraising, and internal resources.
The successful closure of the university's recent comprehensive capital campaign, which raised $434 million, or $184 million in excess of the original goal, highlights TCU's capacity to utilize institutional development toward financing potential capital needs.
The 'F1+' rating is based on the availability of highly liquid, highly rated securities to cover potential maximum liquidity demands presented by TCU's outstanding variable rate demand bonds. To supplement internal liquidity resources, TCU maintains the ability to draw on a dedicated line of credit in the aggregate amount of $40 million. On a combined basis, TCU's liquid assets totaled $244.3 million, which are available on a weekly basis and cover the university's liquidity needs of $130 million by a healthy 1.88x.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Revenue Supported Rating Criteria' (June 12, 2012);
--'U.S. College and University Rating Criteria' (May 25, 2012);
--'Criteria for Assigning Short-Term Ratings Based on Internal Liquidity' (June 15, 2012);
--'Fitch Rates Texas Christian University's Series 2011 Revs 'AA-'; Outlook Stable' (Sept. 26, 2011).
Applicable Criteria and Related Research:
Revenue-Supported Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=681015
U.S. College and University Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679152
Criteria for Assigning Short-Term Ratings Based on Internal Liquidity
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=681822
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
Fitch Ratings
Elizabeth Fogerty, +1-212-908-0526
Media Relations, New York
elizabeth.fogerty@fitchratings.com
or
Primary Analyst:
Alexander Vaisman, +1-212-908-0721
Analyst
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Eric Kim, +1-212-908-0241
Director
or
Committee Chairperson:
Maura McGuigan, +1-212-908-0591
Senior Director
The offering is expected to close on September 17, 2012, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering for general corporate purposes, which the Company expects will include funding a contribution to the Company's U.S. pension plan and which may include repaying outstanding indebtedness under the Company's senior secured credit facility.
The Notes and the related subsidiary guarantees will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related subsidiary guarantees have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, hospitality, gaming and public sector organizations in more than 100 countries. NCR is headquartered in Duluth, Georgia.
NCR is a trademark of NCR Corporation in the United States and other countries.
Forward-Looking Statements
Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “seek,” “potential,” “expect,” “strive,” “continue,” “continuously,” “accelerate,” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” They include statements as to NCR’s anticipated or expected results; future financial performance; projections of revenue, profit growth and other financial items; expectations regarding pension metrics, future contributions and funding obligations, and the economic and other effects thereof; plans with respect to lump sum payment options to be offered to certain pension plan participants and the effects thereof; possible changes in pension accounting policies and the effects thereof, including with respect to recurring pension expense; strategies and intentions regarding NCR’s pension plans; discussion of other strategic initiatives and related actions; comments about future market or industry performance; and beliefs, expectations, intentions, and strategies, among other things. These and other risks, assumptions and uncertainties are described in our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. NCR Corporation expressly disclaims any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
News Media Contact
NCR Corporation
Lou Casale, 212-589-8415
lou.casale@ncr.com
or
Investor Contact
NCR Corporation
Gavin Bell, 212-589-8468
gavin.bell@ncr.com
Porter will testify that it is important for Congress to reach an agreement as soon as possible about expiring tax provisions because tax uncertainty hinders small businesses and their owners from making informed business and financial decisions. Any further delay will magnify the frustration of many small business owners and adversely impact tax administration.
The hearing is scheduled for 10 a.m. ET in Room 2360 of the Rayburn House Office Building, Independence Avenue and South Capitol Street, S.W., Washington, D.C.
The AICPA’s testimony will be available on Sept. 13 from Shirley Twillman at stwillman@aicpa.org.
About the AICPA
The American Institute of Certified Public Accountants (AICPA) is the world’s largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.
The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants (CIMA), it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.
The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.
Media representatives are invited to visit the AICPA Press Center at aicpa.org/press.
AICPA
Shirley Twillman, 202-434-9220
stwillman@aicpa.org
“The company is accused of entering into a deal with Teleportall to produce the ZAGGbox without disclosing certain facts of the transaction to shareholders”
“The company is accused of entering into a deal with Teleportall to produce the ZAGGbox without disclosing certain facts of the transaction to shareholders,” securities lawyer Hamilton Lindley said. “Teleportall breached its contract, and failed to deliver the product as agreed. Our proposed shareholder lawsuit will seek to ensure that proper controls are placed to correct any improper behavior, and to improve the company’s value for investors.”
Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. ZAGG, Inc. shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855.
Goldfarb LLP
Hamilton Lindley, 214-583-2233
Toll Free Telephone: 877-583-2855
Fax Number: 214-583-2234
hlindley@goldfarbllp.com
www.goldfarbllp.com
“The company is accused of omitting facts concerning compliance with a lease obligation covering eight assisted living facilities”
“The company is accused of omitting facts concerning compliance with a lease obligation covering eight assisted living facilities,” securities lawyer Hamilton Lindley said. “ALC is accused of not maintaining specified occupancy rates and ensuring that all regulatory licenses were up to date. Our proposed shareholder lawsuit will seek to ensure that proper controls are placed to correct any improper behavior, and to improve the company’s value for investors.”
Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. Assisted Living Concepts shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855.
Goldfarb LLP
Hamilton Lindley, 214-583-2233
877-583-2855 Toll Free Telephone
214-583-2234 Fax Number
hlindley@goldfarbllp.com
www.goldfarbllp.com
WRIT intends to utilize the net proceeds from the offering to repay borrowings under WRIT’s lines of credit and the remainder for general corporate purposes.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC are the Joint Book-Running Managers for the offering. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated, and SunTrust Robinson Humphrey, Inc. are Senior Co-Managers.
A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. The offering may be made only by means of a prospectus and related prospectus supplement. A final prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. When available, copies of the final prospectus supplement and accompanying prospectus may be obtained from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, attention: Investment Grade Syndicate Desk, or by telephone at 212-834-4355; Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attn: Prospectus Department, telephone: (877) 858-5407 or by e-mail at BATProspectusdept@citi.com; Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd. NC0675, Charlotte, North Carolina 28262, attn: Capital Markets Client Support, telephone: 1-800-326-5897 or email: cmClientsupport@wellsfargo.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by telephone at +1 (800) 221-1037, or by email at newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.
WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT owns a diversified portfolio of 71 properties totaling approximately 9 million square feet of commercial space and 2,540 residential units, and land held for development. These 71 properties consist of 26 office properties, 18 medical office properties, 16 retail centers and 11 multifamily properties. WRIT shares are publicly traded on the New York Stock Exchange (NYSE: WRE).
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, the potential for federal government budget reductions, changes in general and local economic and real estate market conditions, the timing and pricing of lease transactions, the effect of the current credit and financial market conditions, the availability and cost of capital, fluctuations in interest rates, tenants' financial conditions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2011 Form 10-K and second quarter 2012 Form 10-Q. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Washington Real Estate Investment Trust
William T. Camp
Executive Vice President and Chief Financial Officer
Tel 301-984-9400
Fax 301-984-9610
bcamp@writ.com
“Our performance reflected slightly better than expected supply chain recovery assumptions as stated in the prior quarter call.”
Fourth Quarter Sales and Earnings Overview
Total Company:
Fourth quarter sales were $783.7 million compared to $780.4 million last year, an increase of 0.4% (+6.1% in local currency (“LC”)). Diluted earnings per share (“EPS”) were $0.73 in the quarter, compared to $0.82 last year. Pro forma diluted EPS(1) were $0.99 compared to $0.76 last year, an increase of 30%. Foreign currency translation negatively impacted fourth quarter EPS by $0.05.
Continuing Operations:(2)
Sales in the quarter were $722.4 million, an increase of about 1% (+6.4% LC). Diluted EPS were $0.64 in the quarter, compared to $0.76 last year. Pro forma EPS were $0.86 compared to $0.65 last year, an increase of 32%.
Larry Kingsley, President and CEO, said, “We executed a solid fourth quarter. We focused almost exclusively on restoring customer service levels and we have recovered from the ERP implementation challenges in the third quarter of FY12. We also closed the transaction with Haemonetics on August 1st as planned. We have taken action to insure that we can achieve reasonable shareholder return in a choppy economic environment.
“Our BioPharmaceuticals, Machinery & Equipment, and Aerospace markets all performed very well in the quarter. On a regional basis, the Americas had strong growth while Europe and Asia were flat. System sales were negative in the quarter as a function of a very large comparison quarter in FY11, our decision to pare certain unprofitable system sales, and lower capital commitment in some markets.
“Consumable orders were strong globally with the exception of our Industrial markets in Europe where orders declined 7% year-on-year.
“Our performance reflected slightly better than expected supply chain recovery assumptions as stated in the prior quarter call.”
Full Year Sales and Earnings Overview
Total Company:
For the full year, sales increased 5.9% over last year (+6.9% LC). Diluted EPS were $2.71, compared to $2.67 for the same period last year. Pro forma EPS were $3.19, a 15% increase compared to $2.77 a year earlier. Foreign currency translation had an immaterial impact on full year EPS.
Continuing Operations:(2)
Sales from continuing operations for the full year increased 6.1% (+7.2% LC) over last year. Diluted EPS were $2.39 compared to $2.36. Pro forma EPS were $2.80, a 16% increase compared to $2.42 a year earlier.
Life Sciences – Fourth Quarter Highlights (2) |
|||||||||||||||||
(Dollar Amounts in Thousands and Discussion of Sales Changes are in Local Currency) |
|||||||||||||||||
Sales: |
JUL. 31, 2012 | JUL. 31, 2011 |
% CHANGE |
% CHANGE IN LC | |||||||||||||
BioPharmaceuticals | $ | 217,591 | $ | 199,865 | 8.9 | 16.1 | |||||||||||
Food & Beverage | 65,561 | 77,810 | (15.7 | ) | (9.1 | ) | |||||||||||
Medical | 51,488 | 54,004 | (4.7 | ) | 1.9 | ||||||||||||
Total Life Sciences segment | $ | 334,640 | $ | 331,679 | 0.9 | 7.8 | |||||||||||
Gross profit | $ | 193,609 | $ | 186,325 | |||||||||||||
% of sales | 57.9 | 56.2 | |||||||||||||||
Segment profit | $ | 86,121 | $ | 78,836 | |||||||||||||
% of sales | 25.7 | 23.8 | |||||||||||||||
BioPharmaceuticals: Within BioPharmaceuticals, our Pharmaceuticals sales increased 16%. Consumables sales to Pharmaceuticals customers grew 21%, with contributions from all regions, while systems sales declined 22%. Continued strength in the biotech market, as well as ForteBio’s BLItzTM and Octet® instrumentation platforms, which added about 4%, drove consumables sales growth. Laboratory sales grew in all regions and increased about 15% overall.
Food and Beverage: Sales were down overall reflecting a divestiture in Italy which reduced sales by almost 5%. Consumables sales grew about 12%, excluding the divestiture. This growth reflects new products and growth in emerging markets. Systems sales were down reflecting decreased capital investment in Europe related to weak economic conditions in parts of the region.
Medical: Medical OEM sales grew 10% driven by the Americas and Europe. Hospital sales were up slightly. Other Medical markets were negatively impacted by channel changes.
Industrial – Fourth Quarter Highlights (2) |
|||||||||||||||||
(Dollar Amounts in Thousands and Discussion of Sales Changes are in Local Currency) |
|||||||||||||||||
Sales: |
JUL. 31, 2012 | JUL. 31, 2011 |
% CHANGE |
% CHANGE IN LC | |||||||||||||
Process Technologies | $ | 235,506 | $ | 241,349 | (2.4 | ) | 3.8 | ||||||||||
Aerospace | 68,669 | 58,566 | 17.3 | 20.8 | |||||||||||||
Microelectronics | 83,556 | 87,122 | (4.1 | ) | (1.5 | ) | |||||||||||
Total Industrial segment | $ | 387,731 | $ | 387,037 | 0.2 | 5.2 | |||||||||||
Gross profit | $ | 178,546 | $ | 167,195 | |||||||||||||
% of sales | 46.0 | 43.2 | |||||||||||||||
Segment profit | $ | 67,552 | $ | 48,493 | |||||||||||||
% of sales | 17.4 | 12.5 | |||||||||||||||
Process Technologies: Machinery & Equipment sales increased 9%. Consumables sales grew in all regions reflecting growth in the mining, automotive in-plant and mobile OEM sectors.
Sales in Fuels & Chemicals decreased approximately 4% overall on weakness in Europe as well as tough comparables to a strong quarter in fiscal year 2011.
Power Generation sales increased 18%. Systems sales more than doubled, while consumables sales grew about 2%. Key growth drivers in the quarter include the recovery of the turbine OEM sector in Europe.
Municipal Water sales increased about 5%, driven by growth in the Americas.
Aerospace: Military Aerospace grew 28% in the quarter, with all regions contributing. Sales in the Americas were particularly strong. Commercial Aerospace sales increased 12%, with both Americas and Europe strong.
Microelectronics: The result year over year reflects continuing weakness in our customer end markets in Asia. Overall, orders were up 5%.
Conclusion/Outlook
Kingsley concluded, “I’m pleased with our execution in the quarter in that we were able to restore customer confidence. However, we have much to do to demonstrate that we can execute in a manner that is industry-leading and that we can be proud of. Our team is working hard to enable our strategy and build the necessary business processes to deliver consistent performance.
“As we look forward, the market environment is mixed. We anticipate challenges within our European Industrial markets, slower than previously expected global semiconductor end markets, and moderating growth in some emerging markets. Other markets, though, will continue to grow in the current economic environment. Our current assumptions are generally consistent with our third quarter characterization which assumes low to mid-single digit local currency sales growth. On that basis in 2013, we expect pro forma EPS in the $3.05 to $3.25 range, reflecting 9% to 16% earnings per share growth. Included within our guidance is the assumption of 22 - 24 cents of adverse currency associated impact.
“We will provide further details regarding our expectations for fiscal year 2013 on our Q4 call.”
Conference Call
On Thursday, September 13, 2012, at 8:30 am ET, Pall Corporation will host a conference call to review these results. The call can be accessed at www.pall.com/investor. The webcast will be archived for 30 days.
About Pall Corporation
Pall Corporation (NYSE:PLL) is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall works with customers to advance health, safety and environmentally responsible technologies. The Company’s engineered products enable process and product innovation and minimize emissions and waste. Pall Corporation is an S&P 500 company serving customers worldwide. Pall has been named a “top green company” by Newsweek magazine. To see how Pall is helping enable a greener, safer, more sustainable future, follow us on Twitter @PallCorporation or visit www.pall.com/green.
Forward-Looking Statements
The matters discussed in this release contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Results for fiscal year 2012 are preliminary until the Company's Form 10-K is filed with the Securities and Exchange Commission on or before October 1, 2012.
Forward-looking statements are those that address activities, events or developments that the Company or management intends, expects, projects, believes or anticipates will or may occur in the future. All statements regarding future performance, earnings projections, earnings guidance, management’s expectations about its future cash needs, dilution from the disposition or future allocation of capital and effective tax rate, and other future events or developments are forward-looking statements. Forward-looking statements are those that use terms such as “may,” “will,” “expect,” “believe,” “intend,” “should,” “could,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” “predict,” “potential,” and similar expressions. Forward-looking statements contained in this and other written and oral reports are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors.
The Company’s forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those envisaged by the Company’s forward-looking statements. Such risks and uncertainties include, but are not limited to, those discussed in Part I–Item 1A.–Risk Factors in the 2011 Form 10-K, and other reports the Company files with the Securities and Exchange Commission, including: the impact of legislative, regulatory and political developments globally; the impact of the uncertain global economic environment; the extent to which adverse economic conditions may affect the Company's sales volume and results; demand for our products and business relationships with key customers and suppliers, which may be impacted by their cash flow and payment practices; delays or cancellations in shipments; the Company's ability to develop and commercialize new technologies or obtain regulatory approval or market acceptance of new technologies; increase in costs of manufacturing and operating costs; the Company's ability to achieve and sustain the savings anticipated from its structural cost initiatives; the Company’s ability to meet its regulatory obligations; changes in product mix, market mix and product pricing, particularly relating to the expansion of the systems business; the Company's ability to successfully complete the Company's business improvement initiatives, which include supply chain enhancements and integrating and upgrading the Company's information systems; the effect of a serious disruption in the Company's information systems; fluctuations in the Company's effective tax rate; the Company’s ability to enforce patents and protect proprietary products and manufacturing techniques; the Company's ability to successfully complete or integrate any acquisitions; volatility in foreign currency exchange rates, interest rates and energy costs and other macroeconomic challenges currently affecting the Company; the impact of pricing and other actions by competitors; the effect of litigation and regulatory inquiries associated with the restatement of the Company's prior period financial statements; the Company's ability to attract and retain management talent or the loss of members of its senior management team; and the effect of the restrictive covenants in the Company's debt facilities. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company makes these statements as of the date of this disclosure and undertakes no obligation to update them, whether as a result of new information, future developments or otherwise.
Management uses certain non-GAAP measurements to assess the Company’s current and future financial performance. The non-GAAP measurements do not replace the presentation of the Company’s GAAP financial results. These measurements provide supplemental information to assist management in analyzing the Company’s financial position and results of operations. The Company has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of ongoing operations.
Notes to Release:
(1) | Pro forma diluted EPS are defined as Reported diluted EPS adjusted for “Discrete Items”. Discrete items are defined as ROTC and other items that are deemed to be non-recurring in nature and/or not considered by management to be indicative of underlying operating performance. A reconciliation of Reported to Pro forma amounts can be found on page 7 of this release. | |
(2) | As discussed in our news release dated August 1, 2012, the Company completed the sale of certain assets of its Blood product line to Haemonetics Corporation (NYSE:HAE). Accordingly, discussion of results from continuing operations excludes the Blood product line. Tables appended to this release are presented on a continuing operations basis (with reconciliation to include the discontinued Blood product line). Further, Life Sciences and Industrial operating profit have been restated to reflect a change in the allocation of certain shared expenses on a continuing operations basis. | |
(3) | Reflects assets to be disposed of related to the sale of the Blood product line. | |
(4) | Cash flows are inclusive of discontinued operations. |
Lloyd Ritter, co-director of the AgEC, said, “Both the House and Senate Agriculture Committees have worked hard this year to move forward with fiscally responsible Farm Bills, and final passage is within reach. Passage of a five-year Farm Bill will provide necessary economic stability and confidence to agricultural producers and rural communities across the country. Inclusion of a strong Energy Title with mandatory funding will increase the economic opportunities in those rural communities.
“Farm Bill energy programs have helped the renewable energy industry create thousands of jobs across the country in rural communities where they are very much needed. They have also helped farmers put more than 160,000 acres of underutilized farmland across 12 states back into production. And they have helped hundreds of new American businesses generate 100,000 jobs producing home-grown biobased products. These effective programs are a vital part of the overall Farm Bill.”
The AgEC is a broad membership-based consortium of organizations and companies representing the entire spectrum of clean, renewable energy and bioproducts stakeholders. It includes members focused on biofeedstock production and conversion technologies, rural economic development and diversification, biofuel and renewable electricity production, biobased products, environmental protection, and others. Coalition members are committed to seeing a strong bi-partisan energy title in the 2012 farm bill that builds on the tremendous clean energy accomplishments USDA has already realized and provides resources to USDA at a level that enables them to continue and expand this important mission.
Agriculture Energy Coalition (AgEC)
Lloyd Ritter, 202-215-5512
or
Ryan Stroschein, 202-415-5174
“On September 6, 2012, the company disclosed that Apple, Inc. is unlikely to use ADNC’s processor intellectual property in the iPhone 5, an account that constituted 37% of ADNC’s total revenue for the six months ended on July 30, 2012”
“On September 6, 2012, the company disclosed that Apple, Inc. is unlikely to use ADNC’s processor intellectual property in the iPhone 5, an account that constituted 37% of ADNC’s total revenue for the six months ended on July 30, 2012,” securities lawyer Hamilton Lindley said. “As a result, ADNC shares fell almost 60%. Our proposed shareholder lawsuit will seek to ensure that proper controls are placed to correct any improper behavior, and to improve the company’s value for investors.”
Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. Audience, Inc. shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855.
Goldfarb LLP
Hamilton Lindley, 214-583-2233
877-583-2855 Toll Free Telephone
214-583-2234 Fax Number
hlindley@goldfarbllp.com
www.goldfarbllp.com
“On September 6, 2012, the company disclosed that Apple, Inc. is unlikely to use ADNC’s processor intellectual property in the iPhone 5, an account that constituted 37% of ADNC’s total revenue for the six months ended on July 30, 2012”
“On September 6, 2012, the company disclosed that Apple, Inc. is unlikely to use ADNC’s processor intellectual property in the iPhone 5, an account that constituted 37% of ADNC’s total revenue for the six months ended on July 30, 2012,” securities lawyer Hamilton Lindley said. “As a result, ADNC shares fell almost 60%. Our proposed shareholder lawsuit will seek to ensure that proper controls are placed to correct any improper behavior, and to improve the company’s value for investors.”
Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. Audience, Inc. shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855.
Goldfarb LLP
Hamilton Lindley, 214-583-2233
877-583-2855 Toll Free Telephone
214-583-2234 Fax Number
hlindley@goldfarbllp.com
www.goldfarbllp.com
“Law firms face significant liability when confidential client or proprietary information is lost or compromised through targeted attacks by third parties”
Most professional liability policies respond to third-party privacy claims. However, they do not typically indemnify law firms for the first-party costs associated with a data breach. First-party coverage is imperative as these costs rise, the number of data breaches increases, and notification requirements imposed by state and Federal regulators become more comprehensive. ACE’s Privacy Protection policy provides this vital first-party coverage. With the addition of the Law Firm Privacy Protection endorsement, ACE offers a clear response to a claim that is presented in combination with a legal malpractice policy.
“Law firms face significant liability when confidential client or proprietary information is lost or compromised through targeted attacks by third parties,” said Toby Merrill, Vice President, ACE Professional Risk. “Given the recent modifications to Section 105A of the ABA Model Rules of Professional Conduct, which focuses on extending a lawyer’s obligations of confidentiality to electronic records and communications including the use of reasonable efforts to safeguard against unauthorized access, ACE provides a clear solution by tailoring this privacy coverage to supplement a law firm’s legal malpractice policy.”
ACE helps firms mitigate the financial and reputational risks associated with privacy breaches, covering first-party expenses and providing access to a suite of data breach specialists and other important benefits.
These benefits include:
In addition, the Law Firm Privacy Protection endorsement tailors the ACE Privacy Protection policy to address the specific exposures of a law firm. These include:
When combined with the Law Firm Privacy Protection endorsement, ACE’s Privacy Protection policy bridges the gap between risk transfer and purchased loss control, creating a comprehensive risk management program for privacy, data breach, and network security risk.
ACE Professional Risk, a division of ACE USA, is staffed by a specialized team of innovative underwriters and provides management liability and professional liability products throughout the U.S. For more information about ACE Professional Risk and its range of products and services, please contact Michael Tanenbaum at michael.tanenbaum@acegroup.com or call (201) 479-6336, or visit our website.
Product highlights are summaries only; please see the actual policy for terms and conditions. Products may not be available in all locations and remain subject to ACE Professional Risk’s underwriting criteria. ACE USA shall not be a party to any agreement entered into between any Data Breach Team service provider and an ACE policyholder. It is understood that Data Breach Team service providers are independent contractors and are not agents of ACE USA. ACE USA assumes no liability arising out of any services rendered by a Data Breach Team service provider.
ACE USA is the U.S.-based retail operating division of the ACE Group, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.acegroup.com/us.
The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.
ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com
“PSCA prides itself on keeping our members at the leading edge of important trends and innovations. SaverNation is one of the most innovative programs that could pave the way for participating employees to save for retirement.”
“Everyone in our industry has the same goal: to boost participation and contribution rates to levels that will enable all Americans to retire comfortably. Unfortunately, most employees simply can't afford to save more. With SaverNation, employees no longer have to choose between saving and spending,” stated Robinson. “I’m thrilled to introduce SaverNation to PSCA members and demonstrate how easy it is for sponsors to implement and employees to generate extra pretax contributions from their regular monthly spending.”
SaverNation gives employees cash back for their normal monthly purchases and automatically converts it to extra pre-tax 401(k) contributions. More than 600 merchants, including nearly every national brand, participate in the program and give employees an average of 5% cash back on every online purchase. The SaverNation Program is a plan design feature that works with any workplace retirement plan.
“PSCA is excited to have Marc introduce SaverNation to our members,” said Bob Benish, Executive Director and Chief Operating Officer of PSCA. “PSCA prides itself on keeping our members at the leading edge of important trends and innovations. SaverNation is one of the most innovative programs that could pave the way for participating employees to save for retirement.”
The PSCA Conference is focused on helping Americans retire better with news on plan trends and features, legislative updates, and presentations tailored to the unique needs of small, mid-sized, and large plans. The event is held September 11-14, 2012 at the Roosevelt Hotel, New Orleans, LA.
About SaverNation
SaverNation solves the number one reason people don’t save enough for retirement: they can’t afford to. SaverNation is the first cash back program for 401(k) and other workplace retirement plans. This national program is the result of a joint effort from independent pension, payroll, and loyalty marketing experts, such as Dallas Salisbury of EBRI, Bruce Ashton of Drinker Biddle & Reath, Brian Graff of ASPPA, and Dan Maddux of the American Payroll Association. SaverNation generates cash back from everyday purchases and converts it into extra pre-tax plan contributions, automatically.
About the PSCA
PSCA has been on the forefront of protecting America’s retirement system. PSCA assists more than six million plan participants and provides its members with programs and services to help them better manage their company’s retirement plans.
SaverNation
Christy Noel
424-223-5153
Christy@savernationdotorg
or
PSCA
Robert Benish
312-419-1863 x 207
Bob.benish@pscadotorg
“Insignis is already capturing the required data on behalf of existing clients, so our Dodd-Frank solution merely expands upon the data capture services we have traditionally performed.”
Insignis CEO, Hal Sullivan, notes: “While the vast majority of swap owners will not be designated as MSPs or MSBSPs, all swap owners will still have to test the daily positions, exposure amounts, and ISDA terms to prove they have not exceeded specified thresholds. Even if reporting exemptions apply, swap owners must still perform a number of complex computations.” Sullivan continues, “The type of information – swap data, collateral data, and collateral agreements – that must be captured daily in order to perform the mandated tests, and the breadth of data sources can make compliance an enormous burden for swap owners, particularly for large defined benefit plans, foundations, and endowments.”
“We have been collecting complex derivatives data, including swaps, for many years,” states Insignis’ SVP Key Account Management, Suzanne Streitz. According to Streitz, compliance with the MSP/MSBSP requirements involves a multitude of data points, including: identification of regulator, classification of asset rollup group, identification of forward exposure multipliers, ISDA (International Swaps and Derivatives Association) and CSA (Credit Support Annex) terms, as well as notional amounts, collateral amounts, and mark-to-market values; “Insignis is already capturing the required data on behalf of existing clients, so our Dodd-Frank solution merely expands upon the data capture services we have traditionally performed.”
Insignis Inc., a leader in investment portfolio data services and data management since 1985, collects data from multiple and disparate providers, including investment managers, custodians, broker/dealers, collateral agents, and institutional investment entities in support of its many service areas. The processes are secure, fully automated and run in Insignis’ SSAE 16 certified private cloud facility.
For more information about this topic, or to schedule an interview with Harold Sullivan, please visit www.insignis.com.
Insignis Inc.
Suzanne Streitz, 312.368.3661
suzanne.streitz@insignis.com
“Our proposed shareholder lawsuit will seek to ensure that proper controls are placed to correct any improper behavior, and to improve the company’s value for investors.”
“The company has been accused of issuing false statements regarding a ‘merchandise miss’ which, in conjunction with poor store performance, has required ‘revised sales and earnings guidance’ based on ‘recent sales trends,’” securities lawyer Hamilton Lindley said. “Our proposed shareholder lawsuit will seek to ensure that proper controls are placed to correct any improper behavior, and to improve the company’s value for investors.”
Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. Body Central Corporation shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at hlindley@goldfarbllp.com or 877-583-2855.
Goldfarb LLP
Hamilton Lindley, 214-583-2233
877-583-2855 Toll Free Telephone
214-583-2234 Fax Number
hlindley@goldfarbllp.com
www.goldfarbllp.com
MFS High Yield Municipal Trust (CMU)
--$3,900,000 of ARPS, series F.
--$71,100,000 of VMTP shares, series 2016/9, due Sept. 30, 2016.
MFS Investment Grade Municipal Trust (CXH)
--$825,000 of ARPS, series M.
--$47,925,000 of VMTP shares, series 2016/9, due Sept. 30, 2016.
KEY RATING DRIVERS
The 'AAA' long-term ratings primarily reflect:
--Sufficient asset coverage provided to the preferred shares as calculated per the funds' over-collateralization (OC) tests.
--The structural protections afforded by mandatory de-leveraging provisions in the event of asset coverage declines.
--The legal and regulatory parameters that govern the funds' operations.
--The capabilities of MFS Investment Management as investment advisor.
TENDER OFFER
The funds conducted a tender offer to redeem outstanding ARPS at 95% of the ARPS liquidation preference. 94.8% of CMU's $75,000,000 of ARPS, and 98.3% of CXH's $48,750,000 of ARPS were tendered, and will be redeemed using proceeds from the issuance of VMTP shares.
ASSET COVERAGE
The funds' asset coverage ratios for the preferred shares, as calculated in accordance with the Investment Company Act of 1940, were in excess of the minimum threshold of 225% required by the VMTP governing documents (Preferred Shares Asset Coverage Test).
The funds' effective leverage ratios were below the 45% maximum allowed by the VMTP governing documents (Effective Leverage Test).
The funds' asset coverage ratios, as calculated in accordance with the Fitch total and net OC tests per the 'AAA' rating guidelines outlined in Fitch's criteria, were in excess of 100%, which is the minimum threshold required by the ARPS governing documents.
Should the funds' asset coverage tests decline below their minimum threshold amounts, the governing documents' mandatory redemption provisions will require the fund to cure the tests or redeem the affected liabilities in a sufficient amount to restore compliance with the applicable test(s).
STRESS TESTS
Fitch performed various stress tests on the funds to assess the strength of the structural protections available to the VMTP Shares compared to the rating stresses outlined in Fitch's closed-end fund rating criteria. These tests included determining various 'worst case' scenarios where the funds' leverage and portfolio composition migrated to the outer limits of the funds' operating and investment guidelines.
Only under remote circumstances did the asset coverage available to the VMTP Shares fall below the 'AAA' threshold, and instead passed at an 'AA' rating level.
Given the highly unlikely nature of the stress scenarios, and the minimal rating impact, Fitch views the funds' permitted investments, municipal issuer diversification framework and mandatory deleveraging mechanisms as consistent with an 'AAA' rating.
THE FUNDS
The funds are closed-end management investment companies regulated by the Investment Company Act of 1940. The funds are currently invested primarily in investment grade quality municipal bonds.
MFS Investment Management, a subsidiary of Sun Life Financial Inc., is the funds' investment advisor, responsible for the funds' overall investment strategies and their implementation. MFS Investment Management had approximately $293 billion of assets under management as of Aug. 31, 2012.
RATINGS SENSITIVITY
The ratings assigned to the ARPS and VMTP shares may be sensitive to material changes in the leverage composition, portfolio credit quality, portfolio diversification or market risk of the funds. A material adverse deviation from Fitch guidelines for any key rating driver could cause ratings to be lowered by Fitch.
The funds have the ability to assume economic leverage through derivative transactions which may not be captured by the funds' Preferred Shares Asset Coverage tests or Effective Leverage Ratios. Material derivative exposure on a speculative basis in the future could have potential negative rating implications if it adversely affects asset coverage available to rated preferred shares.
For additional information about Fitch rating guidelines applicable to debt and preferred stock issued by closed-end fund, please review the criteria referenced below, which can be found on Fitch's web site at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
The sources of information used to assess this rating were the public domain and MFS Investment Management.
To receive Fitch's forthcoming research on closed-end funds please go to:
http://forms.fitchratings.com/forms/FAMCEFOptinform
Applicable Criteria and Related Research:
--'Rating Closed-End Fund Debt and Preferred Stock' (Aug. 15, 2012);
--'Municipal CEFs Refinance Pre-Crisis ARPS' (May 3, 2012);
--'2012 Outlook: Closed-End Fund Leverage' (Dec. 19, 2011).
Applicable Criteria and Related Research:
Rating Closed-End Fund Debt and Preferred Stock
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686101
Municipal CEFs Refinance Pre-Crisis ARPS
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=677576
2012 Outlook: Closed-End Fund Leverage
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=660709
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
Fitch Ratings
Brian Bertsch, +1-212-908-0549
Media Relations, New York
brian.bertsch@fitchratings.com
or
Primary Analyst:
Greg Fayvilevich, +1-212-908-9151
Associate Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Ralph Aurora, +1-212-908-0528
Senior Director
or
Committee Chairperson:
Ian Rasmussen, +1-212-908-0232
Senior Director
“We’re proud to have donated $4 million to our local schools during a time when budgets continue being cut – and we’re looking forward to helping students and educators raise even more this year.”
Shop for Schools is an easy way for parents, educators and the neighborhood to raise much-needed money for local schools. From September 12 to December 31, 2012, participating schools will receive a $1 cash donation for every $20 Fresh & Easy receipt collected. Fresh & Easy will also award the top-fundraising school in Arizona, Nevada and the top two highest-earning schools in California each with a $5,000 bonus. Schools can register online at freshandeasy.com/shopforschools until October 1.
In addition to earning money through receipt collection, participating schools can also have their own Shopping Night, a fundraising event at their local Fresh & Easy store. During a school’s designated Shopping Night, 5% of the store’s total sales are donated back to the school.
“Schools need ways to easily raise money now more than ever, which is why we’re bringing our Shop for Schools fundraising program back for the fifth time,” said Fresh & Easy CEO Tim Mason. “We’re proud to have donated $4 million to our local schools during a time when budgets continue being cut – and we’re looking forward to helping students and educators raise even more this year.”
To learn more about Fresh & Easy’s Shop for Schools program, visit www.freshandeasy.com/shopforschools. Become a fan of Fresh & Easy’s Shop for Schools program on Facebook at www.facebook.com/shopforschools.
About Fresh & Easy Neighborhood Market
Fresh & Easy operates 199 stores in Arizona, California and Nevada. All of Fresh & Easy’s products are made with the highest quality ingredients and contain no artificial colors, flavors, high-fructose corn syrup or added trans fats. Fresh & Easy also offers fresh baked goods, meats and produce, as well as favorite national brand products and household items, all at great low prices.
For more information about Fresh & Easy, visit www.freshandeasy.com. Also follow the company on Twitter at www.twitter.com/freshandeasy and become a fan on Facebook at www.facebook.com/freshandeasy.
Fresh & Easy Neighborhood Market
Brendan Wonnacott, 310-384-3833
brendan.wonnacott@freshandeasy.com
“Adoption rates of Bluetooth v4.0 are rapidly increasing in the smartphone, laptop, and tablet markets, creating hundreds of millions of Bluetooth Smart Ready hubs”
“Bluetooth v4.0 is the only wireless technology available today that provides low energy consumption, security, performance and the massive installed base manufacturers need to create, innovate and enhance the usability of their products,” said Suke Jawanda, CMO, Bluetooth Special Interest Group. “Apple knows it – in today’s keynote the company called out Bluetooth technology as one of the biggest requests for the iPod nano. Our 16,500 member companies also know it. To make the wireless connectivity of your product better, the clear and obvious choice is to use Bluetooth.”
Today’s Apple announcement also highlighted the company’s aggressive global rollout plans for its new products, placing Bluetooth Smart Ready hubs in the hands of more consumers and ensuring that developers will have even more incentive to make their products better with Bluetooth. By adding Bluetooth v4.0 to the new iPhone 5, iPod touch and iPod nano, Apple not only gives consumers the ability to stream high fidelity music to speakers and earphones, but also connect to thousands of new ultra power efficient Bluetooth Smart products like watches, training shoes and heart rate monitors. This connectivity is the convenience that Bluetooth provides to consumers and the opportunity that Bluetooth v4.0 presents to developers. No other wireless technology comes close to providing the convenience, ubiquity and performance that Bluetooth provides.
“Adoption rates of Bluetooth v4.0 are rapidly increasing in the smartphone, laptop, and tablet markets, creating hundreds of millions of Bluetooth Smart Ready hubs,” said Peter Cooney, wireless connectivity practice director at ABI Research. “Apple is at the heart of this revolution adding Bluetooth v4.0 to many of its products including the iPhone 4S, iPad 3, Mac Mini, and Macbook Pro and Air laptops. It has increased its Bluetooth Smart Ready Hub portfolio with its iPhone 5 and new iPod devices, further showing its commitment to the technology. This will be a major boost to Bluetooth Smart market growth over the coming years.”
About Bluetooth® Wireless Technology
Bluetooth wireless technology is the global wireless standard enabling simple connectivity for a broad range of electronic devices. Version 4.0 featuring Bluetooth low energy technology creates new application opportunities for products within the mobile phone, consumer electronics, PC, automotive, health & wellness, sports & fitness and smart home industries. With nearly two billion devices shipping annually, Bluetooth technology is the only proven wireless solution for developers, product manufacturers, and consumers worldwide. Backed by industry leading companies, the Bluetooth SIG empowers more than 16,000 member companies to collaborate, innovate and guide Bluetooth wireless technology. For more information please visit www.bluetooth.com. Bluetooth wireless technology: Simple. Secure. Everywhere.
Americas
INK Public Relations
Starr Million Baker, +1 512-382-8981
starr@ink-pr.com
or
Europe, Middle East & Africa
Porter Novelli
Danny Devriendt, +32 2 413 03 40
Danny.devriendt@porternovelli.com
or
Asia-Pacific
CHINA
Elite PR Consultants Beijing Co., Ltd
Erica Wu, +86 10 6409 7442/ 7647 ext. 8008
erica@elitepr.cn
or
JAPAN
Actio, Inc.
Mr. Seiji Arimoto, +81-3-5771-6426
arimoto@actioinc.jp
or
KOREA
Strategic Marketing and Communications, Inc.
Harry Yoon, +82-2-3445-3232
harry@oksmc.co.kr
or
TAIWAN
Apex Communications Consultants
Hira Yu, 886-2-7718-7777 ext. 517
hira@apexpr.com.tw
“Striking the right balance between form and function, our new collection of cases and armbands enhance the variety of ways we use our phones in our daily life without sacrificing personal style.”
“Ranging from fun and bright to sleek and sporty, our designs for the iPhone 5 offer stylish solutions for everyone,” said Patrick Sullivan, director of product management at Belkin. “Striking the right balance between form and function, our new collection of cases and armbands enhance the variety of ways we use our phones in our daily life without sacrificing personal style.”
View Case (F8W153) $19.99
Belkin Shield Series Collection
Made from ultrathin polycarbonate, Belkin’s Shield Series cases feature powerful protection from every day wear and tear in a slim, form-fitting design.
Shield Pinstripe (F8W120) $29.99
Shield Blooms (F8W172C00 and F8W172C01) $29.99
Shield Petals (F8W171) $29.99
Shield Pastels (F8W170) $29.99
Shield Spot (F8W173) $29.99
Belkin Grip Series Collection
Available in a variety of designs and colors, the grip collection is made from a flexible, easy-to-grip TPU material and provides durable protection from impacts and scratches in a slim-fitting profile with a velvety smooth finish.
Grip Case (F8W158) $19.99
Grip Neon Glo (F8W097) $24.99
Grip Candy (F8W152) $24.99
Grip Candy Sheer (F8W138)
Grip Max (F8W161) $34.99
Belkin Sport Armband Collection
Belkin’s stylish, yet functional Sport Armbands let you concentrate on your workout, not your device. Made from lightweight, breathable Lycra and neoprene, the armbands are water-resistant, hand-washable and fit snug against your arm without adding extra bulk. The clear window gives you full access to all your controls.
EaseFit Armband (F8W105) $19.99
EaseFit Armband Plus (F8W106) $29.99
Screen Guard Screen Protectors
Belkin’s easy-to-install Screen Guard products offer maximum scratch resistance and feature Belkin’s Tru Clear™ technology for optimal visibility and touch sensitivity.
Screen Guard Transparent Protector (F8W179tt3) $14.99
Screen Guard Anti-Smudge Protector (F8W180tt2) $19.99
Availability
Select new Belkin accessories for the iPhone 5 will be available in late September 2012, with additional accessories launching throughout the fall at select retailers across the United States and on Belkin.com.
Apple and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries.
About Belkin International, Inc.
At Belkin, we make people inspired products. With more than 200 patents, Belkin invents products that harness the power of technology to enrich people’s lives. From wireless home networking and entertainment, to mobile accessories, energy management, and a broad USB and cable mix, Belkin products connect the dots between people and the things they love. Belkin also provides public and private sector organizations with high-quality security, infrastructure, energy, and server-room solutions. A privately held company founded in 1983, Belkin has more than 1,200 employees in 21 countries. Headquartered in Playa Vista, California, Belkin can also be found on the Web at Belkin.com, on Facebook at facebook.com/belkin, and on Twitter at Twitter.com/belkin.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50406824&lang=en
Belkin
Leah Polk
Sr. Public Relations Manager
(310) 751-2738
leah.polk@belkin.com
or
Orquidea Ramos
PR Coordinator
(310) 751-2894
orquidear@belkin.com
“I am pleased by the sharp focus throughout our entire organization on improving sales, margins and profits over the past year”
For the second quarter ended June 29, 2012, the company reported net income of $842,583, or $.01 per share, based on 59.15 million basic and 63.99 million diluted weighted average shares outstanding. For the comparable year-ago period, the company reported net income of $669,742, or $.01 per share, based on 57.30 million basic and 61.77 million diluted weighted average shares outstanding.
Command Center has now reported 12-month trailing earnings of $2.77 million, or about $.043 per share on a fully diluted basis.
For the twenty-six week period ended June 29, 2012, Command Center reported total revenue of $43.36 million, an increase of 18.2% on revenue of $36.68 million for the twenty-six week period ended July 1, 2011. Net income for the six months was $281,087, or $.00 per share, compared with a net loss of $1,631,694, or ($.03) per share in the same period last year.
The company said gross profit margin improved to 24.8% and 24.6% in the second quarter and first half of 2012, respectively, versus 23.3% and 21.6% in the like year-ago periods. SG&A expenses were 20.8% of revenue in the second quarters of both this and the prior year, and 21.6% and 23.7% of revenue for the first six-month periods of 2012 and 2011, respectively. Workers’ compensation expense was 4.4% and 5.5% of revenue for the twenty-six weeks of 2012 and 2011, respectively.
“I am pleased by the sharp focus throughout our entire organization on improving sales, margins and profits over the past year,” said Command Center Chairman and CEO Glenn Welstad. “Strong organic sales growth at the branch level in the second quarter and first half of 2012 has been augmented by an increase in our coverage of the Bakken Region of North Dakota, as well as the increase in restoration activities of Disaster Recovery Services, Inc., our wholly-owned subsidiary. We expect these positive trends to continue and have positioned Command Center for even stronger growth in the second half of this year and beyond.”
The company recently announced it had opened, or was in the process of opening, a total of seven new branch offices in six different states. This move is expected to accelerate its expansion and create greater visibility for the company nationwide.
The company’s quarterly report on Form 10-Q can be accessed online at www.sec.gov, or on the Command Center website at http://www.ir-site.com/commandcenter/default.asp.
About Command Center, Inc.
The company provides flexible on-demand employment solutions to businesses in the United States, primarily in the areas of light industrial, hospitality and event services, as well as other assignments such as emergency and disaster relief projects. Additional information on Command Center is available at www.commandonline.com. Information on the company’s Bakken Staffing division can be found at www.bakkenstaffing.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, the severity and duration of the general economic downturn, the availability of worker's compensation insurance coverage, the availability of capital and suitable financing for the Company's activities, the ability to attract, develop and retain qualified store managers and other personnel, product and service demand and acceptance, changes in technology, the impact of competition and pricing, government regulation, and other risks set forth in the Form 10-K filed with the Securities and Exchange Commission on April 9, 2012 and in other statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Command Center, Inc. | ||||||||||||
Consolidated Condensed Balance Sheets | ||||||||||||
June 29, 2012 | December 30, | |||||||||||
(unaudited) | 2011 | |||||||||||
ASSETS | ||||||||||||
Current Assets | ||||||||||||
Cash | $ | 365,597 | $ | 1,131,296 | ||||||||
Restricted cash | 47,055 | - | ||||||||||
Accounts receivable, net of allowance for bad debt | 4,340,930 | 2,160,072 | ||||||||||
Prepaid expenses, deposits and other | 552,561 | 396,908 | ||||||||||
Prepaid workers' compensation | 78,403 | 27,632 | ||||||||||
Other receivables - current | 10,971 | 11,028 | ||||||||||
Current portion of workers' compensation deposits | 788,000 | 798,000 | ||||||||||
Deferred tax asset | 621,695 | 912,195 | ||||||||||
Total Current Assets | 6,805,212 | 5,437,131 | ||||||||||
Property and equipment - net | 474,063 | 383,014 | ||||||||||
Workers' compensation risk pool deposit, less current portion | 574,441 | 130,834 | ||||||||||
Goodwill | 3,306,786 | 2,500,000 | ||||||||||
Intangible assets - net | 585,934 | 46,834 | ||||||||||
Total Assets | $ | 11,746,436 | $ | 8,497,813 | ||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||
Current liabilities | ||||||||||||
Accounts payable | $ | 604,611 | $ | 900,174 | ||||||||
Checks issued and payable | 349,037 | 169,738 | ||||||||||
Other current liabilities | 567,001 | 558,821 | ||||||||||
Current portion of contingent liability | 473,018 | - | ||||||||||
Accrued wages and benefits | 1,525,067 | 785,665 | ||||||||||
Current portion of notes payable | 25,000 | - | ||||||||||
Current portion of workers' compensation premiums and claims liability | 1,785,602 | 1,186,661 | ||||||||||
Total Current Liabilities | 5,329,336 | 3,601,059 | ||||||||||
Long-term liabilities | ||||||||||||
Warrant liabilities | 1,167,515 | 983,415 | ||||||||||
Contingent liabilities, less current portion | 328,153 | - | ||||||||||
Workers' compensation claims liability, less current portion | 2,385,687 | 2,148,675 | ||||||||||
Total Liabilities | 9,210,691 | 6,733,149 | ||||||||||
Commitments and contingencies (Note 4 and 8) | ||||||||||||
Stockholders' equity | ||||||||||||
Preferred stock - $0.01 par value, 5,000,000 shares authorized; none issued | - | - | ||||||||||
Common stock - 100,000,000 shares, $0.001 par value, |
59,240 | 57,606 | ||||||||||
Additional paid-in capital | 55,441,163 | 54,952,802 | ||||||||||
Accumulated deficit | (52,964,658 | ) | (53,245,744 | ) | ||||||||
Total Stockholders' Equity | 2,535,745 | 1,764,664 | ||||||||||
Total Liabilities and Stockholders' Equity | $ | 11,746,436 | $ | 8,497,813 |
Command Center, Inc. | ||||||||||||||||||||||||
Consolidated Condensed Statements of Operations | ||||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
Thirteen Weeks Ended | Twenty-six Weeks Ended | |||||||||||||||||||||||
June 29, 2012 | July 1, 2011 | June 29, 2012 | July 1, 2011 | |||||||||||||||||||||
Revenue | $ | 24,269,530 | $ | 20,299,940 | $ | 43,363,211 | $ | 36,679,763 | ||||||||||||||||
Cost of staffing services | 18,256,277 | 15,576,291 | 32,708,401 | 28,750,335 | ||||||||||||||||||||
Gross profit | 6,013,253 | 4,723,649 | 10,654,811 | 7,929,428 | ||||||||||||||||||||
Selling, general and administrative expenses | 5,037,524 | 4,222,218 | 9,356,860 | 8,682,095 | ||||||||||||||||||||
Depreciation and amortization | 82,937 | 126,999 | 203,400 | 258,276 | ||||||||||||||||||||
Income (loss) from operations | 892,792 | 374,431 | 1,094,551 | (1,010,943 | ) | |||||||||||||||||||
Interest expense and other financing expense | (191,792 | ) | (166,639 | ) | (338,865 | ) | (302,672 | ) | ||||||||||||||||
Change in fair value of warrant liability | 432,083 | 461,950 | (184,100 | ) | (318,079 | ) | ||||||||||||||||||
Net income (loss) before income taxes | 1,133,083 | 669,742 | 571,587 | (1,631,694 | ) | |||||||||||||||||||
Provision for income taxes | (290,500 | ) | - | (290,500 | ) | - | ||||||||||||||||||
Net income (loss) | $ | 842,583 | $ | 669,742 | $ | 281,087 | $ | (1,631,694 | ) | |||||||||||||||
Earnings (loss) per share: | ||||||||||||||||||||||||
Basic | $ | 0.01 | $ | 0.01 | $ | 0.00 | $ | (0.03 | ) | |||||||||||||||
Diluted | $ | 0.01 | $ | 0.01 | $ | 0.00 | $ | (0.03 | ) | |||||||||||||||
Weighted average shares outstanding: | ||||||||||||||||||||||||
Basic | 59,146,678 | 57,303,049 | 59,095,732 | 56,178,720 | ||||||||||||||||||||
Diluted | 63,985,995 | 61,767,321 | 63,720,922 | 56,178,720 |
Market Makers
Jimmy Caplan, 512-329-9505
jcap@austin.rr.com
“We believe this approach can be applied to other cancer markers and bodily fluids to greatly improve clinical performance and ultimately, patient management. We are pleased to have Tony serve as a speaker and panel chair, given the Company’s record of innovation and technology leadership.”
In a presentation entitled, “A Cost Effective Assay for Multiplexing Protein and DNA Biomarkers on a Single Analytical Platform,” Anthony P. Shuber, chief technology officer, will discuss the company’s use of next generation sequencing to simultaneously detect protein and DNA biomarkers on one analytical platform. The method developed can eliminate the need to perform separate procedures for protein and DNA while decreasing assay complexity and cost. Mr. Shuber will also chair a technical session at the meeting on tips and tricks for the application of next generation sequencing on Tuesday, August 14 at 9:30 a.m. (EST).
The Company recently launched a sequencing-based version of its CertNDx Bladder Cancer Assay which uses a NGS sequencing platform to detect FGFR3 mutations that are indicative of bladder cancer. “We are very excited about the progress we have made applying next generation sequencing to clinical diagnostics,” said Marc Schneebaum, chief executive officer. “We believe this approach can be applied to other cancer markers and bodily fluids to greatly improve clinical performance and ultimately, patient management. We are pleased to have Tony serve as a speaker and panel chair, given the Company’s record of innovation and technology leadership.”
Mr. Shuber will also be presenting “Incorporating Next-Gen Sequencing into the Clinical Environment” at the upcoming Next Generation Dx Summit in Washington, DC on Tuesday, August 21 at 3:20 p.m. (EST). The presentation will focus on the recently developed assay that uses NGS to detect single mutant molecules of FGFR3 in urine. The assay performance resulted in mutation detection in urine that is >90% concordant with that found in tissue.
About Predictive Biosciences
Predictive Biosciences develops novel molecular diagnostic cancer assays and provides molecular pathology services for urology-based practices. Leveraging a portfolio of patented biomarkers and clinical approaches, the company has built a unique portfolio of assays for cancer management, first targeted at bladder and prostate cancer. For additional information, please visit www.predictivebiosci.com.
Predictive Biosciences
Sharon Martin, 781-402-1780 x246
smartin@predictivebiosci.com
“We truly believe that healthy is the new beautiful and this was showcased through our engagement with athletes and consumers around the world during London 2012”
From Saudi Arabia sending female athletes to the Olympic Games for the first time in the country’s history to the first time that U.S. female athletes outnumbered male, female athletes dominated the conversation during the 17-day competition. Pantene proudly sponsored 10 of these elite London competitors as beauty ambassadors, including the U.S.’s Natalie Coughlin, Argentina’s Gisela Dulko and Great Britain’s Victoria Pendleton.
“The London 2012 Olympic Games were a milestone for women in sports: every country’s delegation included at least one female athlete and every sport included both male and female competitions,” explained Kathryn Olson, CEO of the U.S.-based Women’s Sports Foundation which focuses on advancing the lives of girls and women through sports and physical activity. “Pantene’s prominent support for women’s sports throughout the competition has greatly helped raise visibility for the strength, talent, and beauty female athletes possess. Pantene and its beauty ambassadors are also helping to raise awareness for the relationship between sports and health, revealing the beauty of strong female athletes in a context that’s encouraging to young girls who need good role models in sports and in life.”
In London, the Pantene beauty ambassadors won more than 12 medals in six sports, including four gold. Russia’s rhythmic gymnast Evgeniya Kanaeva shined before the world with a gold medal. China’s diver Wu Minxia mounted the podium winning a gold medal. Great Britain’s cyclist Victoria Pendleton topped the competition at her final Olympic Games with one gold and one silver medal. The group proved the message that “healthy is the new beautiful” and were also featured in Pantene’s first truly global marketing campaign to support the Olympic Games, which featured new packaging and a fully integrated marketing campaign which lived across multiple channels.
“As this is my last Olympic Games, I am so proud to have been a part of this landmark year for female athletes,” said Pantene athlete and London 2012 gold and silver medal winner Victoria Pendleton. “I am passionate about inspiring young women and as a part of Pantene’s beauty campaign I am able to share the message that healthy is the new beautiful. Hopefully our performances will serve as inspiration for future generations of female athletes, and I am thankful that Pantene was there to support me.”
“We truly believe that healthy is the new beautiful and this was showcased through our engagement with athletes and consumers around the world during London 2012,” said Hanneke Faber, Vice President and Brand Franchise Leader, Global Haircare at P&G. “We have seen tremendous continued support of this concept since its launch earlier this year. Our Olympians were able to see firsthand how Pantene’s performance allowed them to concentrate on their athletic performance and how the product stands up to the rigors of competing in The Olympics. We provided these women and the more than 10,000 London athletes and their families with healthy, beautiful hair through our salons at the P&G Family Home and in the Athlete Village. We are so proud of our Pantene athlete ambassadors, whose gold medal count of four placed them in the same company of the top 20 countries that participated in the Olympic Games.”
With the London 2012 Olympic Games being considered the first truly “social games,” Pantene’s online engagement resulted in connections to more than 1.5 million people over the last month to showcase the brand’s “Healthy is the New Beautiful” message.
The Pantene campaign leading up to and during London 2012 was part of P&G’s Worldwide Olympic Partner status, which was anchored by the ‘Thank You, Mom’ campaign for the London 2012 Olympic Games. P&G’s “Thank you, Mom” campaign helped improve life for moms around the world and provided support for the moms of the Pantene athletes and the moms of thousands of other Olympians. Looking forward to the Sochi 2014 Olympic Winter Games, the brand will continue its support of athletes. For more information on the brand’s activities, visit www.pantene.com or www.magicbulletmedia.com/MNR/pantenebeautyambassadors.
About P&G
P&G touches and improves the lives of about 4.4 billion people around the world with its portfolio of trusted, quality brands. The Company's leadership brands include Pampers®, Tide®, Ariel®, Always®, Whisper®, Pantene®, Mach3®, Bounty®, Dawn®, Fairy®, Gain®, Pringles®, Charmin®, Downy®, Lenor®, Iams®, Crest®, Oral-B®, Duracell®, Olay®, Head & Shoulders®, Wella®, Gillette®, Braun®, Fusion®, Ace®, Febreze®, and Ambi Pur®. With operations in about 80 countries, P&G brands are available in more than 180 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50374495&lang=en
Pantene
Jeni Thomas, +1-513-240-2209
Thomas.jh.1@pg.com
or
Taylor
Mari Rella, +1-212-714-5744 or +1-516-316-4611
mrella@taylorstrategy.com
“Daegis’ ability to natively process and produce Lotus Notes files, as well as its integrated approach to handling non-email files, enables our firm to deliver a defensible, timely and cost effective solution to our clients.”
“By leveraging Daegis’ proven technologies and methodologies for Lotus Notes, we can achieve significant eDiscovery efficiencies, which we can pass on to our clients,” said Deanna Blomquist, Group Leader, Client Technology Solutions at Faegre Baker Daniels. “Daegis’ ability to natively process and produce Lotus Notes files, as well as its integrated approach to handling non-email files, enables our firm to deliver a defensible, timely and cost effective solution to our clients.”
The Daegis eDiscovery Platform is the only solution on the market capable of processing non-email Lotus Notes files such as TeamRoom, Document Libraries or custom business applications. Daegis has developed unique tools and workflows which ensure non-email NSF files are processed accurately and defensibly. In addition to saving time and money for clients, Daegis helps mitigate risk by ensuring critical metadata and attachments are not lost or altered during ingestion, which can lead to delays in processing data.
“As the amount of electronically stored information continues to grow, businesses and their outside counsel are facing complex challenges around the processing, storage, and review of data collected from Lotus Notes, which remains a popular collaboration platform for email, calendaring and other business functions,” said Doug Stewart, Director of Technology at Daegis. “When eDiscovery involves data from customizable sources like Lotus Notes, it becomes even more important to streamline the eDiscovery process and keep down the costs associated with conversion while preventing against the loss or corruption of responsive information.”
Daegis and Faegre Baker Daniels will be hosting a webinar on Lotus Notes and eDiscovery: Maximizing Efficiencies, Wed., August 15, 2012 at 11 a.m. PT. For more information, click here. To read the case study on Faegre Baker Daniels, click here.
About Faegre Baker Daniels
Faegre Baker Daniels is dedicated to serving the legal needs of local, national and international businesses. From offices in the United States, United Kingdom and China, our more than 800 legal and consulting professionals provide the depth and breadth of expertise necessary to solve complex business challenges. With roots dating back to 1863, our firm is one of the 100 largest law firms headquartered in the U.S.
Faegre Baker Daniels has offices in Boulder and Denver, Colo.; Chicago Ill.; Fort Wayne, Indianapolis and South Bend, Ind.; Des Moines, Iowa; Minneapolis, Minn.; Washington, D.C,; London, Beijing and Shanghai.
About Daegis
Daegis (NASDAQ: DAEG) is a leading provider of eDiscovery solutions. The Daegis eDiscovery Platform combines technology and on-demand services to deliver comprehensive and cost-effective solutions for corporations and law firms. Daegis’ technology is revolutionizing eDiscovery through Cross-Matter Management, which enables the retention and reuse of custodian data and attorney work product from one matter to the next, mitigating the risk of inconsistencies and reducing costs by avoiding repetitive steps throughout the eDiscovery lifecycle. For more information, visit www.daegis.com, www.ediscoverycalculators.com or follow us via our blog and Twitter at @daegis.
Barokas PR for Daegis
Rachel Mandell-Rice, 206-264-8220
daegis@barokas.com