2007'03.09.Fri
ブリヂストンスポーツ、カジュアルタイプのウォーキングシューズ「ＴＯＵＲＳＴＡＧＥ ＷＡＬＫＩＮＧ」を発売
「歩く」を積極的に助ける靴
ウォーキングシューズ『ＴＯＵＲＳＴＡＧＥ ＷＡＬＫＩＮＧ』追加発売
ブリヂストンスポーツ株式会社は、「ＴＯＵＲＳＴＡＧＥ」ブランドから２００６年３月の発売以来好評のウォーキングシューズに、足に馴染む天然皮革（ヌバック）と、カジュアルタイプを２００６年１０月中旬に新たに追加し、全５モデル展開とします。
同商品は、足の骨の形にあわせた好評の「コンケイブソール」により、足とシューズの動きを一体化。足への負担を軽減し、快適な歩行を実現します。
また、歩行の際に足骨の形にあったソールであることから、足裏を通じ、アウトソールへ荷重が分散。これにより設置面積が広がり安定性も向上させました。
【 商品特長 】
１．「Ｗ－ＡＲＣＨ ＰＯＷＥＲ」で足にフィット
［歩行効率向上］
足の骨の形に合わせたコンケイブ（中がくぼんだ）ソール形状より、足とシューズの動きが一体化。縦アーチと横アーチをサポートすることで、衝撃吸収（着地時）と反発性（蹴り出し時）を向上。
［歩行安定性］
コンケイブ・ソール形状により地面への接地面積が増大。歩行時の安定性も向上します。
２．「トレッドパターン・ソール」で、強力グリップ！
ブリヂストン独自の「アクアパウダー」を配合した特殊ゴムと、タイヤのトレッドパターンを応用したソールが、安定した力強いグリップ力を実現します。
３．「エアコンシステム」で、ムレにくい！
インソールとアウトソールの土踏まず部分にエアコンシステム採用。靴内の蒸れを軽減します。また、防水シートにより雨などの浸入は防ぎます。
４．「トゥー＆ヒールスプリング」設計で、歩きやすい
つま先、かかとのソールを舟底形状にすることで、スムーズな体重移動をサポートします。
【 商品概要 】
（※ 関連資料を参照してください。）
● 関連リンク
PR
2007'03.09.Fri
ブリヂストンスポーツ、「ＴＯＵＲＳＴＡＧＥ Ｎｅｗ Ｘ－０１ スペシャルＢＯＸ」を限定発売
～ プロ気分を味わおう！～
『 ＴＯＵＲＳＴＡＧＥ Ｎｅｗ Ｘ－０１ スペシャルＢＯＸ 』限定発売
ブリヂストンスポーツ株式会社は、「ＴＯＵＲＳＴＡＧＥ Ｎｅｗ Ｘ－０１ スペシャルＢＯＸ」を、９月２３日より数量限定で全国発売します。
スペシャルＢＯＸには、ボール１ダース、フェイスタオル、キャップ、クリップマーカー、パターカップマット、シリコンバンドと、盛りだくさんのグッズが詰まっており、ＴＯＵＲＳＴＡＧＥファン必携の一品です。実際にプロが使用しているものも多く、このグッズを身に着ければゴルフ場でも注目を集めること間違いなしです。
【 商品概要 】
商品名：
ＴＯＵＲＳＴＡＧＥ Ｎｅｗ Ｘ－０１ スペシャルＢＯＸ
商品内容：
・Ｎｅｗ Ｘ－０１ １ダース：プロ使用品
・フェイスタオル：プロ使用品のサイズ違い
・キャップ：スペシャルＢＯＸ用オリジナル品、プロ未使用品
・クリップマーカー：プロ使用品
・パターカップマット：プロ使用品
・シリコンバンド：プロ使用品
※Ｎｅｗ Ｘ－０１Ｈ スペシャルＢＯＸは、０１Ｈに合わせた商品内容となります。
発売日：
２００６年９月２３日 ※限定品のため、なくなり次第終了となります。
希望小売価格：
￥１０，５００／セット（本体￥１０，０００／セット）
● 関連リンク
2007'03.09.Fri
アサヒ飲料、缶コーヒー「ワンダ デミタス（有機コーヒー豆１００％使用） 缶１７０ｇ」を発売
「お客様により愛される『ワンダ』へ！」
『ワンダ デミタス（有機コーヒー豆１００％使用） 缶１７０ｇ』新発売！！
有機コーヒー豆（有機ＪＡＳ認定取得）１００％使用
アサヒ飲料株式会社（本社 東京、社長 岡田 正昭）は、有機コーヒー豆（有機ＪＡＳ認定取得）を１００％使用、当社従来品に比べ約１．５倍のコーヒー豆を使用することで実現した、品質感と力強いコーヒーのコクと香りが特長のデミタス缶コーヒー『ワンダ デミタス（有機コーヒー豆１００％使用） 缶１７０ｇ』を、１０月１８日（水）より、全国で新発売します。
近年、食品への安心、安全意識の高まりにともない、良質な素材へのこだわり意識も高まりをみせており、有機栽培の食品に対するニーズの伸長がうかがえます。コーヒー市場においても、消費シェアはまだまだ低いものの、有機栽培コーヒー豆への需要が注目されています。
そこで、アサヒ飲料（株）では、有機コーヒー豆を１００％使用、素材にこだわった缶コーヒー『ワンダ デミタス（有機コーヒー豆１００％使用）』を新発売します。
中味は、南米コロンビア、ペルーのコーヒー農園で、有機ＪＳＡ（日本農林規格）に基づいた厳しい生産基準をクリアして栽培された有機コーヒー豆を１００％使用。化学的に合成された肥料及び化学農薬は使用せず、環境への負荷をできる限り低減し、本来の土壌の生産能力を発揮させて生産されています。このこだわりのコーヒー豆をフレンチロースト（極深煎り）、フルシティロースト（深煎り）、シティロースト（中深煎り）の３段階に分けて焙煎し、コーヒーの豊かな風味と苦味をひき出しました。さらに、当社従来品（コク系缶コーヒー『ワンダ グラマラスボディ』）と比較して、約１．５倍のコーヒー豆を使用することで、コーヒーの力強いコクと香りを実現しています。
パッケージは、中央に「有機豆」と堂々と配し、商品特長を訴求しました。さらに茶色をベースにコーヒーの力強いコクを感じさせるデザインに仕上げています。
アサヒ飲料（株）では、「お客様により愛される『ワンダ』へ！」を合言葉に、「ワンダ」ブランドから新たな価値をご提案してまいります。
【商品概要】
商品名 ワンダ デミタス（有機コーヒー豆１００％使用）缶１７０ｇ
中味 コーヒー
容器 １７５ｍｌ陰圧スチール缶
外装 １７０ｇ×３０本入りダンボールカートン
ＪＡＮコード ４５－１４６０３－１２３９１－３
希望小売価格 １１５円（消費税含まず）
発売日 ２００６年１０月１８日（水）
販売地域 全国
販売目標 ５０万箱
● 関連リンク
2007'03.09.Fri
プジョー・ジャポン、パリモーターショーに「２０７ ｅ ｐｕｒｅ」と「９０８」など出展
★Ｐｅｕｇｅｏｔ Ｉｎｆｏｒｍａｔｉｏｎ★パリモーターショー ２００６
プジョーにとってパリモーターショーは、最新モデルを公開するだけでなく、ドライビングに対するプジョー独自の視点を来訪者の皆様にご紹介する場と考えております。３，８００平方メートルの展示スペースには、相応のドライビングプレジャー、日常的に利用できる手軽さ、気持ちの高まり、高度な技術などプジョーのこだわりがそこかしこにちりばめられています。さらに、木や水、石といった天然素材がふんだんに使用されているため、会場の雰囲気は落ち着きと安らぎに包まれています。
２つある今回の展示の主要テーマは以下の通りです。
第一は「楽しさ（ｐｌｅａｓｕｒｅ）」。
「楽しさ」は、９０８ ＲＣと２００７年ルマン２４時間レースに挑戦するプジョー９０８に具現化されています。
第二は「環境」。
「環境」は車と環境の調和を目指すというプジョーの悲願であり、新技術の結晶として２０７ ｅ ｐｕｒｅが展示されます。また、この展示により、２０７シリーズに託された未来のボディスタイルが明らかになります。
パリモーターショーは、プジョー２０７の発表直後に開催されます。２０７はフランスおよびスイスで本年６月、それ以外の欧州市場では夏前に登場しましたが、現在は欧州以外の市場で発売が開始されているところです。発売から６カ月を待たずして、既に受注残は１１０，０００台を超えており、この新型車に大きな関心が寄せられていることがわかります。
本年開催のパリモーターショーでは、少なくとも４５車種とコンセプトカー４台が出展される予定です。ショーでは、プジョーがそのブランドコンセプトとして採用している「楽しさ」を実感できることでしょう。
２０７ ｅ ｐｕｒｅ
プジョーは、燃料電池（ＦＣ）研究の成果を紹介するため、新しい２０７のボディラインを用い、このたび２０７ ｅ ｐｕｒｅを発表します。実際のところ、ピュアで表情豊かなシルエットをもつこの新技術が結実したモデルは、未来を予感させるものといえます。エンジン音のない静寂の中、風に髪をなびかせながらアクセルを踏んでも、有害な排気ガスは一切排出されません。
９０８
最も権威ある耐久レースであるルマン２４時間レースに向け、プジョーはＶ１２ ＨＤｉ ＤＰＦＳエンジン搭載の新型車を発表します。車は、技術および競技の両面で意欲的な課題を乗り越え、伝統を誇るこの耐久レースで勝利を収めるために設計されました。今回初登場となる９０８は、プジョー設計者の情熱と会社の熱意を反映するとともに、競技と環境への配慮は両立できるということを示しています。
● 関連リンク
2007'03.09.Fri
あいおい損保、関東財務局から銀行代理業の許可を取得
あいおい損害保険が銀行代理業の許可を取得
あいおい損害保険株式会社（社長児玉正之）は、本年４月に施行された「銀行法等の一部を改正する法律」に基づき、関東財務局長より銀行代理業の許可番号（関東財務局長（銀代）第４号）の通知を受けました。
当社は、金融庁の認可を得て昨年度より株式会社新銀行東京（代表執行役仁司泰正）および株式会社三菱東京ＵＦＪ銀行（頭取畔柳信雄）の銀行代理店として中小企業向け融資の取次ぎ業務（※）を開始しておりましたが、今後、銀行代理業者として本業務の積極的な取扱いを進めてまいります。
当社は、これまでも、保険商品を中心としたサービス提供に加え、確定拠出年金事業（日本版４０１ｋ）等の金融サービスも提供しておりますが、今後も、お客様のニーズに応じ、新たな金融サービスの提供を検討してまいります。
※業務内容と取扱商品
当社が一定の要件を満たす中小企業等のお客様に対し、銀行の融資商品を案内・説明し、借入申込（新銀行東京の場合）または借入希望の取次ぎ（三菱東京ＵＦＪ銀行の場合）を行います。お客様が当社を通じてお申込みいただくと、金利（三菱東京ＵＦＪ銀行のみ）および手数料の優遇条件がございます。
（ご参考）主な取扱い融資商品の概要（＊添付資料参照）
以上
● 関連リンク
2007'03.08.Thu
Shanghai Airlines Selects Goodrich's Electric Braking System for Dreamliner Additions to its Fleet
March 08, 2007
CHARLOTTE, N.C., March 8 /Xinhua-PRNewswire/ --
Shanghai Airlines Co., Ltd. has selected Goodrich
Corporation (NYSE: GR) to supply wheels and
electrically-actuated brakes for the Boeing 787 Dreamliner
aircraft it will be adding to its fleet. Shanghai Airlines
has nine Dreamliners on order with entry into service
scheduled to begin in 2008.
According to Brian Brandewie, President, Goodrich
Aircraft Wheels and Brakes division, "We are very
proud to be selected by Shanghai Airlines to provide an
electric braking system for its Dreamliners. We are
pleased by their choice of our technology and look forward
to supplying Shanghai Airlines with the first
electrically-actuated braking system for a large commercial
aircraft. Shanghai Airlines will also be one of the first
airlines in China to fly the Dreamliner."
Headquartered in Troy, Ohio, Goodrich's Aircraft Wheels
and Brakes division has been a world leader in the design,
development and manufacturing of commercial, military,
regional and business aircraft wheels and brakes for 60
years. The division also provides aftermarket service and
critical spares to the world's major airlines. It has
created innovative braking systems for over 200 types of
aircraft and has many more technological improvements in
development.
Goodrich Corporation, a Fortune 500 company, is a
global supplier of systems and services to aerospace,
defense and homeland security markets. With one of the
most strategically diversified portfolios of products in
the industry, Goodrich serves a global customer base with
significant worldwide manufacturing and service facilities.
For more information visit http://www.goodrich.com .
Goodrich Corporation operates through its divisions and
as a parent company for its subsidiaries, one or more of
which may be referred to as "Goodrich
Corporation" in this press release.
GR - Actuation and Landing Systems
For more information, please contact:
Gail K. Warner
Tel: +1-704-423-7048
Lisa Bottle
Tel: +1-704-423-7060
2007'03.08.Thu
The Establishment of Banque Piguet in Hong Kong
March 08, 2007
Its First Overseas Presence to Offer the Best Tradition of
Swiss Private Banking in Asia
HONG KONG, March 8 /Xinhua-PRNewswire/ -- Banque Piguet
& Cie S.A. ("Banque Piguet"), today announced
the official inauguration of its first overseas office in
Hong Kong. Founded in 1856, the bank has established a
reputation for professional client service and an
approachable culture over the past century and a half. The
grand opening ceremony was officiated by the
guest-of-honour, Mr Frederick Ma, Secretary for Financial
Services and the Treasury of Hong Kong Special
Administrative Region.
Also presenting at the ceremony were over 200 guests
including Banque Piguet's board members from Switzerland,
Mr Hans Jakob Roth, Consul-General of Switzerland in Hong
Kong, professional and entrepreneurs from across Asia and
Europe, as well as many distinguished members of the
financial community in Hong Kong. The perfect mix of
guests signified Banque Piguet's determination to expand
its presence overseas and extend the best tradition of
Swiss private banking into Hong Kong and Asia.
Banque Piguet aims to offer its asset management and
private banking business in China, taking advantage of the
liberalisation of the banking sector, in particular the
demand for wealth management services, and the introduction
of the QDII Scheme etc.
Mr Charles de Boissezon, President of the Executive
Board and Chief Executive Officer of Banque Piguet, said,
"Our first overseas office in Hong Kong marks the
bank's firm belief in and commitment to the territory,
which is an ideal place for capturing the growing
opportunities in the region. The choice of Hong Kong is a
tribute to its dynamism and its well-earned role as Asia's
World City."
Mr Michael Chan, Chief Representative -- Greater China
Region, added, "The boom in Asia is continuing into
its sixth year. According to the International Monetary
Fund (IMF), the growth in Asia is promising and expected to
reach 7% in 2007. Hong Kong is a regional financial hub as
well as the gateway to China. Banque Piguet is setting up
in Hong Kong to grasp the rise of Asia and target the high
and ultra high net worth individuals and institutional
investors in the region, particularly in Greater
China."
Banque Piguet specialises in private banking,
institutional asset management and services to independent
portfolio managers. With an extensive historical database,
Banque Piguet's investment strategy is based on the risk
analysis of global macro-economic trends relative to the
valuations of financial markets, thereby identifying future
value and risk.
About Banque Piguet & Cie S.A.
In 2006, Banque Piguet celebrated its 150th
anniversary. This Swiss private bank was established in
1856 and over the past century and a half has developed a
reputation for professional client service and an
approachable culture. In more recent years, however, it
has developed a reputation as a bank with a difference.
The two main differentiating factors are its ownership
structure and its approach to investments which have
produced consistent results in long-term wealth creation.
The bank is 80 per cent owned by Banque Cantonale
Vaudoise (BCV), the 5th largest bank in Switzerland by
balance sheet, whose main shareholder is the State of Vaud.
The remaining 20 per cent is owned by management. This
unique combination gives Banque Piguet the stability of a
quasi-government shareholder and the leadership commitment
that comes from management ownership.
The other differentiating factor is its successful
investment approach, which has been achieved by adopting an
investment strategy which is not driven by industry
consensus or benchmarks, but by experience and independence
of mind based on reflection and anticipation rather than
following market trends.
Banque Piguet specialises in private banking,
institutional asset management and services to independent
portfolio managers.
For more information, please visit
http://www.banquepiguet.com .
Issued by Occasions Corporate & Financial
Communications Limited for and on behalf of Banque Piguet
& Cie S.A.
For further information, please contact:
Ms Karen Lee/ Ms Cindy Hui/ Ms Peony Sze
Occasions Corporate & Financial Communications
Limited
Tel: ¡@+852-2185-7010/ 2185-7025/ 2185-7009
Fax: ¡@+852-2801-5323
Email: karen.lee@occasions.com.hk/
cindy.hui@occasions.com.hk/
peony.sze@occasions.com.hk
2007'03.08.Thu
New Platform Gives Jobseekers Access to All Available Jobs in China from a Single Web Site
March 08, 2007
BEIJING, March 8 /Xinhua-PRNewswire/ -- Meijob.com, a
new China job search engine, was officially launched
yesterday, after running in beta mode since October 2006.
Meijob.com's job crawler aggregates over 170,000 employment
opportunities from more than 20 job sites into one, easy to
use, web site.
As the first bilingual interface job searching website
in China, Meijob.com employs the latest Ajax technology to
process large amounts of information and provide jobseekers
with seamless access to jobs from various sources. Meijob
users can search, save, and apply for relevant employment
opportunities from across the web, without the need to
visit or register with any other job site.
Meijob's technology ensures job ads will be viewed and
applied for by relevant applicants. This way, a job ad
never gets lost between hundred of other ads -- it is only
displayed to appropriate applicants.
Two Israeli entrepreneurs, Barak Paz-Tal and Guy
Rotberg, founded Meijob after recognizing a need in the
local market. "When we arrived in China, we started
looking for a job on the Internet. After a short while, we
gave up. We thought that there must be a better way to
search for a job, a way that will put the focus on the job
seeker's needs and not include so many distracting banners
and pop ups on the main page," says Paz-Tal.
"Our main aim is to make the life of the job seeker
easier."
Meijob's automated application process provides
employers with all the relevant information about each
applicant in a clear and coherent way. This saves
recruiters the hassle of dealing with irrelevant
applications, and shortens the recruitment cycle. In
addition, Meijob consulting services provides selected
recruiters locating, screening, and assessment of job
applicants.
"China's online recruitment market -- estimated at
USD 102 Million -- is soaring at 45% year on year",
says Jason Pang, Meijob's Marketing Manager and a veteran
in China's Internet business. "This fast growth
created difficulties for job seekers. The amount of
information available today on the Internet is enormous.
Job seekers have to go through all this data, and register
with dozens of sites. They find themselves facing a simple
question: where do I begin?" Pang continues.
"Meijob has the answer to this question: We combine
common sense with superior technology to provide jobseekers
with access to all relevant job ads in one place."
The site currently has more than 300,000 visitors
monthly, with traffic levels growing at 60% per month since
launching in beta mode in October 2006. After the Chinese
New Year holiday, Meijob.com saw a record 15,000 of daily
visitors. Following the official launch this week, Meijob
plans to boost its marketing activity in order to become a
leader China's online recruitment market.
About Meijob
Meijob.com was founded by two Israeli entrepreneurs,
Guy Rotberg and Barak Paz-Tal in June 2006 and since has
established a niche in the increasing competitive online
recruitment market in China. Meijob's Beijing office
boasts a team of 20 local and international talents with
expertise in enterprise management, HR, and IT.
For more information, please contact:
Mr. Yang Yeqing
Meijob.com
Mobile: +86-139-0106-2177
Email: yesiing@meijob.com
2007'03.08.Thu
CMP Technology and Global Sources Debut Annual Global Media Usage Study in China
March 08, 2007
Study Reports on Media Usage Patterns of Engineers
Worldwide, and the Dominance of Key Media Forms and Their
Tight Interrelationships
BEIJING, March 8 /Xinhua-PRNewswire/ -- CMP
Technology's Electronics Group today announced the findings
of its annual global media usage survey, conducted in
conjunction with Global Sources. The survey is the most
extensive of its kind, having polled more than 5,000
electronics engineers worldwide across eight languages and
30 countries. The survey findings are being rolled out this
month.
Electronics engineers, managers and executives are
amongst the most sophisticated media consumers, and drive
the $1.5 trillion global electronics industry. The study
measures how this group uses 16 different traditional,
electronic and new Web 2.0 media sources to uncover new
approaches, stay in touch with industry trends, and do
their daily design jobs. In addition, the study analyzes
differences by region, age and other factors.
The goal of the study is to provide the media and
electronics industries with insight into how media is being
used today, and to give clients and partners unique access
to information to help them to execute more effective media
and event planning.
"This year's study provides even deeper insight
into the media habits of electronics engineers and offers
invaluable guidance to the media and advertising
communities in this market and beyond," said Mike
Azzara, senior vice president of CMP Technology's
Electronics and Software Development Groups. "The
study reveals distinct differences based on demographics,
like region and age, that give us insight into how
engineers around the world use available media to source
products and get their jobs done. We look forward to
sharing the complete findings with our marketing
partners."
The study found that across all regions and age groups,
there is a distinct tiering of media sources that engineers
rely on for everything from trend information to design
tips, product recommendations and news. The study also
reveals that engineers use four core types of media and
constantly move among them for very specific reasons. The
tight inter-relationships among these "Core 4" is
what makes these types of media so powerful. Also uncovered
are the linkages between "Core 4" and other key
media formats, such as email, events, white papers and
Webinars. A few key highlights:
-- Print, publication websites, vendor websites and
search engines stand
out as the four essential core formats.
-- Print continues to be one of the most widely used
formats in all
markets, regions and age groups for three reasons:
credibility,
readability and news analysis.
-- Engineers tend to rely on trusted sources even as
they experiment with
new ones.
-- Specific demographic and regional factors are
driving forces behind
media format usage.
-- Web 2.0 media formats are beginning to gain ground
in some regions and
among engineers under the age of 35.
This study offers the only truly global view of the
electronics market's media usage, and results from a
collaborative partnership between CMP Technology and Global
Sources. For more information, please contact Christian
Fahlen, group manager of business strategy, CMP Technology
at (415) 947-6623 or cfahlen@cmp.com.
About the CMP Technology Electronics Group
The CMP Technology Electronics Group is the premier
technology and business media brand serving the information
needs of the creators of technology worldwide. Offering a
full suite of products and services to reach electronics
technology professionals throughout the world, the CMP
Technology Electronics Group delivers the most targeted
audience and actionable information to marketers in the
electronics technology community. Each month, the CMP
Technology Electronics Group delivers more than 1 million
copies of its print publications, including EE Times, to
subscribers in more than 23 countries and online visitors
from 100 countries view more than 8 million pages on its
Web sites in seven languages including EE Times Online and
TechOnLine. More than 40,000 decision makers attend its
Embedded Systems Conferences each year in Boston, Silicon
Valley, China and Taiwan.
About CMP Technology ( http://www.cmp.com )
CMP Technology is a marketing solutions company serving
the technology industry. Through its market-leading
portfolio of trusted information brands, CMP has earned the
confidence of more technology professionals than any other
media company. As a result, CMP is the premier provider of
access, insight and actionable programs designed to connect
sellers and buyers in ways that yield superior return on
investment. CMP Technology is a subsidiary of United
Business Media ( http://www.unitedbusinessmedia.com ), a
global provider of news distribution and specialist
information services with a market capitalization of more
than $3 billion.
For more information, please contact:
Michelle Sabolich
Atomic Public Relations for CMP Technology
Tel: +1-415-402-0230
Email: michelle.sabolich@atomicpr.com
2007'03.08.Thu
Harbin Electric Announces Fourth Quarter and Fiscal 2006 Financial Results
March 08, 2007
4Q06 Revenues Increase 66.9% to $12.0 Million
Fiscal 2006 Revenues Increase 70.9% to $40.4 million
HARBIN, China, March 8 /Xinhua-PRNewswire/ -- Harbin
Electric,
Inc. (Nasdaq: HRBN) a developer and manufacturer of
customized linear motors
and other special electric motors, today announced
financial results for the
fourth quarter and fiscal year ended December 31, 2006.
Sales for the fourth quarter increased 66.9% to $12.0
compared to $7.2
million in the prior year period. Gross profit increased
71.3% to $5.8
million compared to $3.4 million in the prior year. Gross
margin increased
130 basis points to 48.2%.
Fourth quarter operating profit increased 63.0% to $4.4
million compared
to $2.7 million. Operating margin decreased 90 basis
points to 36.7% compared
to 37.6% in the prior year period. Fourth quarter operating
expenses increased
to 11.5% of sales compared to 9.4% in 2005. The increase in
operating expense
was primarily a result of business expansion initiatives.
Operating Expense as
a percent of sales has returned to a more normal range when
compared to the
third quarter of 2006.
For the 2006 fiscal year, total sales increased 70.9%
to $40.4 million
compared to the $23.6 million reported for fiscal 2005.
Industrial electric
linear motors, special motors and motor systems products
continued to comprise
significantly all of the Company's total product sales in
both comparable
periods. Over 50% of the year over year growth in sales was
driven by new
customer activity.
Gross profit increased 70.1% to $19.7 million in 2006
compared to $11.6
million in 2005. Gross profit margin remained steady at
48.6% in 2006 compared
to 48.9% in 2005.
Fiscal 2006 operating profit rose 40.4% to $14.0
million in 2006 compared
to $10.0 million in 2005. Operating margin for 2006
decreased to 34.1% from
42.1% in 2005 due to the increase in operating expenses.
Total operating
expenses increased to 14.0% of sales in 2006 compared to
6.7% in 2005. The
increase in operating expenses during 2006 was largely due
to businesses
expansion, increased spending on R&D, FAS 123(R) non
cash stock compensation
expense, and advisory fees in connection with the Company's
August 2006 debt
fundraising. Stock compensation expense totalled
approximately $918,088, or
$0.05 per diluted share, in the year ended December 31,
2006.
Net Income for 2006 increased to $18.4 million, or
$1.01 per diluted
share, compared to $10.0 million, or $0.67 per diluted
share, for 2005. This
increase was driven mainly by increased operating income
and the non cash
gain of $6.4 million, or $0.35 per diluted share, included
for the change in
fair value of warrants.
Our total fully diluted share count at the end of 2006
was 18,306,569
compared to 15,143,891 at the end of 2005. The increase was
driven by warrants
granted to investors and options granted to employees
during 2006.
Highlights for the Fiscal Year 2006 include:
-- Entering into a joint research and development
agreement
with the Institute of Electrical Engineering of the
Chinese
Academy of Sciences ("IEECAS") to produce
a train and
system to be tested at the Beijing Airport railway
line in
the People's Republic of China by the end of 2008;
-- Closing of a US$50.0 million debt financing with
Citadel
Equity Fund Ltd. and Merrill Lynch International;
-- Strengthening of our Board of Directors by adding 3
new
independent board members;
-- Commenced construction of new manufacturing facility
in the
Shanghai Zhuqiao Airport Industrial Zone focused on
automobile market.
Tianfu Yang, Chairman and CEO of Harbin Electric
commented, "Fiscal 2006
was an exciting and productive year for our company with
the continuation of
strong sales growth and expanded corporate development
programs, receiving the
investment and sponsorship from well respected
international financial leaders, the signing the IEECAS
development relationship, and the planning
for our entry into the automotive component supply industry
with the initial
construction of our new plant facility near the Shanghai
Automotive District."
"We were pleased with our financial performance in
the fourth quarter and
all of fiscal 2006" Mr. Yang continued.
"Subsequent to the end of the year, we
have achieved several notable goals for our business, which
we believe have
strengthened our business position. We obtained a listing
of our common stock
on the NASDAQ Global Market. Additionally, we are proud to
have accomplished
each of the covenant requirements contained in our recent
debt fundraising,
including the NASDAQ listing, the hiring of a senior
financial officer, and
the appointment of a top 15 ranked independent
auditor."
Mr. Yang concluded, "As we advance into fiscal
2007, we intend to
strengthen our design and development capabilities, expand
our capacity into
other attractive market segments, and leverage our customer
relationships into
new opportunities in the global marketplace. We believe
these initiatives
will enable us to further our development as an
internationally competitive
leader in the industrial motor marketplace."
The Company ended fiscal 2006 with $67.3 million in
cash, as compared with
$5.8 million for the corresponding period in 2005. The
increased cash position
was mainly due the net funds raised through its financing
in August 2006. Cash
flow from our operations during fiscal 2006 was $16.9
million compared to
$876,000 in 2005. These annual results can be seen in
greater detail in the
Company's SEC Form 10-KSB filed for its fiscal year ended
December 31, 2006
with the Securities and Exchange Commission (www.sec.gov)
on March 7, 2007.
About Harbin Electric, Inc.
Harbin Electric, Inc. designs, develops and
manufactures linear motors and
special electric motors. With proprietary technology and
core patents, the
Company builds a wide array of customized linear motors and
other special
motor for a variety of applications and industries. The
Company currently
designs and supplies its motor products and systems to
numerous end users
throughout the Chinese domestic market, as well as, to
other industrial OEM
customers overseas. Industry applications for linear motors
include oilfield
services, conveyor systems, factory automation, packaging
equipment, as well
as mass transportation systems. The Company is based in
Harbin, China along
with its wholly owned subsidiaries. The Company has
approximately 270
employees with approximately 200,000 square feet of
state-of-the-art
manufacturing space. For further information, please see
our filings with the
Securities and Exchange Commission ( http://www.sec.gov ).
Safe Harbor Statement
The actual results of Harbin Electric, Inc. could
differ materially from
those described in this press release. Detailed
information regarding factors
that may cause actual results to differ materially from the
results expressed
or implied by statements in this press release may be found
in the Company's
periodic filings with the U.S. Securities and Exchange
Commission, including
the factors described in the section entitled "Risk
Factors" in its annual
report on Form 10-QSB for the quarter ended December 31,
2006. The Company
does not undertake any obligation to update forward-looking
statements
contained in this press release. This press release
contains forward-looking
information about the Company that is intended to be
covered by the safe
harbor for forward-looking statements provided by the
Private Securities
Litigation Reform Act of 1995. Forward-looking statements
are statements that
are not historical facts. These statements can be
identified by the use of
forward-looking terminology such as "believe,"
"expect," "may," "will,"
"should," "project," "plan,"
"seek," "intend," or
"anticipate" or the negative
thereof or comparable terminology, and include discussions
of strategy, and
statements about industry trends and the Company's future
performance,
operations and products.
(Financial tables to follow)
HARBIN ELECTRIC, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2006 AND DECEMBER 31,
2005
ASSETS
2006
2005
CURRENT ASSETS:
Cash $ 67,313,919 $
5,739,019
Marketable securities --
1,005,772
Accounts receivable, net of
allowance for doubtful
accounts of $44,552 and
$29,248 as of December 31,
2006 and December 31, 2005,
respectively 8,827,799
5,842,840
Inventories 583,287
1,343,031
Other receivables 27,991
--
Other receivables - related
parties 44,998
--
Advances on inventory
purchases 834,590
2,746,431
Total current assets 77,632,584
16,677,093
PLANT AND EQUIPMENT, net 9,219,534
7,438,197
OTHER ASSETS:
Debt issuance costs, net of
amortization 2,757,155
--
Advance on intangible assets 2,585,977
--
Intangible assets, net of
accumulated amortization 640,337
679,866
Other assets 123,234
--
Total other assets 6,106,703
679,866
Total assets $ 92,958,821 $
24,795,156
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 258,911 $
189,029
Other payables 406,520
--
Accrued liabilities 107,263
--
Customer deposits 319,261
3,208
Taxes payable 556,943
--
Interest payable 1,122,000
--
Total current liabilities 2,770,898
192,237
NOTES PAYABLE, net of debt discount
of $21,410,401 28,589,599
--
WARRANT LIABILITIES 16,568,080
--
Total liabilities 47,928,577
192,237
COMMITMENTS AND CONTINGENCIES --
--
SHAREHOLDERS' EQUITY:
Common Stock, $0.00001 par
value, 100,000,000 shares
authorized, 16,600,451 shares
issued and outstanding 166
166
Paid-in-capital 12,252,064
11,297,676
Retained earnings 26,222,408
10,460,887
Statutory reserves 4,523,715
1,846,724
Accumulated other
comprehensive income 2,031,891
997,466
Total shareholders'
equity 45,030,244
24,602,919
Total liabilities and
shareholders' equity $ 92,958,821 $
24,795,156
The accompany notes are integral part of these
consolidated statements.
HARBIN ELECTRIC, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND OTHER
COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2006 AND
2005
2006
2005
REVENUES $ 40,415,777
$ 23,643,664
COST OF SALES 20,754,282
12,083,957
GROSS PROFIT 19,661,495
11,559,707
RESEARCH AND DEVELOPMENT EXPENSE 1,491,316
750,000
SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES 4,175,944
845,443
INCOME FROM OPERATIONS 13,994,235
9,964,264
Other expense, net 5,196
--
Non-operating income 89,864
--
Non-operating expense
(130,638) --
Gain on sale of marketable
securities 577,071
--
Interest (expense) income, net
(2,450,248) 35,894
OTHER (EXPENSE) INCOME, NET
(1,908,755) 35,894
CHANGE IN FAIR VALUE OF WARRANTS 6,353,032
--
INCOME BEFORE PROVISION FOR INCOME
TAXES 18,438,512
10,000,158
PROVISION FOR INCOME TAXES --
--
NET INCOME 18,438,512
10,000,158
OTHER COMPREHENSIVE INCOME:
Unrealized gain (loss) on
marketable securities --
587,171
Foreign currency translation
adjustment 1,034,425
512,540
COMPREHENSIVE INCOME $ 19,472,937
$ 11,099,869
BASIC WEIGHTED AVERAGE NUMBER OF
SHARES 16,600,451
14,934,667
BASIC EARNING PER SHARE $1.11
$0.67
DILUTED WEIGHTED AVERAGE NUMBER OF
SHARES 18,306,569
15,143,891
DILUTED EARNING PER SHARE $ 1.01
$ 0.66
The accompany notes are integral part of these
consolidated statements.
HARBIN ELECTRIC, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2006 AND
2005
2006
2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 18,438,512
$ 10,000,158
Adjustments to reconcile net
income to cash provided by
(used in) operating activities:
Depreciation 373,539
303,514
Amortization of
intangible assets 93,889
52,899
Amortization of debt
issuance cost 197,470
--
Amortization of debt
discount 1,510,711
--
Loss on disposal of
equipment (1,945)
--
Bad debt expense 14,020
28,823
Realized gain on sale of
marketable securities (577,071)
--
Change in fair value of
warrants (6,353,032)
--
Stock based compensation 918,088
--
(Increase) decrease in assets:
Accounts receivable (2,961,574)
(5,751,214)
Inventories 788,713
(1,049,840)
Other receivables 72,579
--
Other receivables -
related parties 86,538
--
Advances on inventory
purchases 1,959,588
(2,698,103)
Other assets (130,972)
52,382
Increase (decrease) in
liabilities:
Accounts payable 148,908
(42,745)
Other payables 401,533
--
Accrued liabilities 49,118
(19,605)
Customer deposits 309,462
--
Interest payable 1,122,000
Other liabilities 7,590
--
Net cash provided by
operating activities 16,913,268
876,269
CASH FLOWS FROM INVESTING ACTIVITIES:
Advance on intangible assets (2,549,389)
--
Additions to intangible assets (1,444,350)
(269,624)
Additions to property and equipment (1,579,273)
(2,288,245)
Proceeds from sale of marketable
securities 1,093,165
--
Net cash used in
investing activities (4,479,847)
(2,557,869)
CASH FLOWS FINANCING ACTIVITIES:
Net proceeds from debt issued 47,045,375
--
Net proceeds from issuance of shares --
4,800,000
Repayments by related party --
208,015
Capital contribution 36,300
--
Net cash provided by
financing activities 47,081,675
5,008,015
EFFECTS OF EXCHANGE RATE CHANGE IN CASH 2,059,804
201,801
INCREASE IN CASH 61,574,900
3,528,216
CASH, beginning of year 5,739,019
2,210,803
CASH, end of year $ 67,313,919
$ 5,739,019
The accompany notes are integral part of these
consolidated statements.
For more information, please contact:
Barry L. Raeburn
EVP Finance & Corporate Development
Tel: +1-215-854-8104
Email: info@HarbinElectric.com
Integrated Corporate Relations
Investors: Bill Zima or Ashley Ammon
Media: Brian Ruby
Tel: +1-203-682-8200
2007'03.08.Thu
UOP Commissions 200th CCR PLATFORMING(TM) Process Unit
March 08, 2007
Unit for SINOPEC to help meet demand for clean fuels and
chemical in China
DES PLAINES, Ill., March 8 /Xinhua-PRNewswire/ -- UOP
LLC, a Honeywell (NYSE: HON) company, announced today it
has successfully commissioned its 200th CCR Platforming
process unit, a milestone in the refining process
technology area.
The unit, in operation at Sinopec Hainan Petrochemical
Co.'s newest refinery in the Hainan Province of China, will
allow Sinopec, the region's largest producer and supplier of
oil products and petrochemical products, to supply clean
fuel and chemical feedstocks throughout China. It will use
UOP's most advanced CCR Reforming catalysts, which are
designed for high liquid and hydrogen yields, low coke
production and maximum process unit profitability.
"UOP is proud to have reached this important
milestone and we will continue to develop innovative
processes and technologies," said Norm Gilsdorf,
senior vice president of UOP's Process Technology &
Equipment business unit. "We are equally as proud of
our long partnership with China, including Sinopec, and our
efforts to help China achieve its tremendous sustainable
growth."
The highly energy efficient CCR Platforming is a
continuous catalytic reforming process used throughout the
petroleum and petrochemical industries to produce aromatics
and hydrogen from naphthenes and paraffins. First
commercialized in 1971, UOP's CCR Platforming process has
been licensed in more than 27 units in China since 1985,
representing more than 26 million metric tons a year of
throughput in China.
In addition to CCR technology, UOP has licensed 12
aromatics complexes, two Linear Alky Benzene (LAB)
complexes and various petroleum refining technologies to
Sinopec since the early 1980s.
Sinopec Hainan Petrochemicals Co. is a subsidiary of
Sinopec Corp. As China's largest producer and supplier of
oil and petrochemical products and the second largest
producer of crude oil, Sinopec's annual sales volume of oil
products accounts for 57.8 percent of the country's total
consumption.
UOP LLC, headquartered in Des Plaines, Illinois, USA,
is a leading international supplier and licensor of process
technology, catalysts, adsorbents, process plants, and
consulting services to the petroleum refining,
petrochemical, and gas processing industries. UOP is a
wholly-owned subsidiary of Honeywell International, Inc.
and is part of Honeywell's Specialty Materials strategic
business group. For more information, go to
http://www.uop.com .
Honeywell International is a $31 billion diversified
technology and manufacturing leader, serving customers
worldwide with aerospace products and services; control
technologies for buildings, homes and industry; automotive
products; turbochargers; and specialty materials. Based in
Morris Township, N.J., Honeywell's shares are traded on the
New York, London, and Chicago Stock Exchanges. It is one of
the 30 stocks that make up the Dow Jones Industrial Average
and is also a component of the Standard & Poor's 500
Index. For additional information, please visit
www.honeywell.com.
This release contains "forward-looking
statements" within the meaning of Section 21E of the
Securities Exchange Act of 1934. All statements, other than
statements of fact, that address activities, events or
developments that we or our management intend, expect,
project, believe or anticipate will or may occur in the
future are forward-looking statements. Forward-looking
statements are based on management's assumptions and
assessments in light of past experience and trends, current
conditions, expected future developments and other relevant
factors. They are not guarantees of future performance, and
actual results, developments and business decisions may
differ from those envisaged by our forward-looking
statements. Our forward-looking statements are also subject
to risks and uncertainties, which can affect our performance
in both the near- and long-term. We identify the principal
risks and uncertainties that affect our performance in our
Form 10-K and other filings with the Securities and
Exchange Commission.
For more information, please contact:
Susan Gross
Tel: +1-847-391-2380
Email: susan.gross@uop.com
2007'03.08.Thu
Protection From Osteoporosis - Bone is Living Tissue
March 08, 2007
Protection From Osteoporosis - Bone is Living Tissue
BASEL, Switzerland, March. 8 /Xinhua-PRNewswire/ -- In
Europe, a bone breaks every 30 seconds due to osteoporosis.
Each year, nearly 1.5 million Americans over 50 suffer
fractures caused by this bone disease.
Bone is a living tissue and is continuously renewed
throughout life. Peak bone mass is reached at the age of
around thirty (see figure).
After this age bone mass starts to decrease. Achieving
a good peak bone mass is important in reducing the risk of
osteoporosis in later life. This peak bone mass acts as
'bone capital' that is used throughout the rest of adult
life.
The bone team: Calcium and vitamins D and K
A sufficient daily calcium intake is very important for
healthy bones. But osteoporosis is not only a calcium issue.
Calcium depends on vitamin D to be stored in the bones.
For many years, scientists assumed that the body's own
production of vitamin D is sufficient to cover the
requirements in humans. But insufficient sunlight in the
winter months and lack of outdoor exercise can lead to a
vitamin D deficiency.
When the body lacks the sun vitamin, bones increasingly
lose their mineral content. Gradually osteoporosis develops,
which increases the risk of bone fractures. Scientists have
recognized this and recommend an increase in the daily
vitamin D dosage. Experts advise that all adults -- both
young and old
-- should receive at least 800-1000 IU (20-25 micrograms)
of vitamin D per day.
Meanwhile new data also point to Vitamin K as an
important partner for calcium and vitamin D in the bone
metabolism. The bone is only well taken care of if the
entire team consisting of calcium and both vitamins is
active. Fortified foods or supplements are essential in
this regard. After all, healthy bones are the basis for a
healthy life.
A complete version of the press release can be
downloaded free of charge under:
http://www.presseportal.ch/de/story.htx?firmaid=100010521&lang=2
Cross reference: Picture is distributed via EPA
(European Pressphoto Agency) and can be downloaded free of
charge under:
http://www.presseportal.ch/de/story.htx?firmaid=100010521
For more information, please contact:
Charlotte Frederiksen
External Communications Manager
DSM Nutritional Products
Tel.: +41/61/687'33'63
Fax: +41/61/687'37'16
E-Mail: charlotte.frederiksen@dsm.com
Internet: http://www.dsmnutritionalproducts.com
2007'03.08.Thu
Subaye.com Records Monthly Fee Revenue of $1.2 Million in February
March 08, 2007
HONG KONG, March 8 /Xinhua-PRNewswire/ -- Telecom
Communications, Inc. (OTC Bulletin Board: TCOM), the Total
Solutions Provider, announced today that in February 2007
its subsidiary, Subaye.com corporate video sharing channel,
generated 6,800 new enterprise video users for its services,
which include uploads, storage, sharing and publishing.
$1.2 million in income from monthly fees was generated in
February, representing over 30% growth from the previous
month.
After the 30 day free of charge period, there was a $60
monthly fee for each corporate user of Subaye.com video
services. This revenue-generating fee resulted in $1.2
million in income in February. The video service also
offers assistance to corporate users in the studio,
including with DVD recording, delivering videos to Subaye
video storage, and posting to the video sharing websites of
Subaye.com alliance members. The potential users of the
Internet Corporate Video service are the 20 million Small
and Medium size Enterprises in China.
About Telecom Communications, Inc.
Telecom Communications, Inc. (TCOM) is a Total
Solutions Provider that offers Integrated Communications
Network Solutions and Internet Content Service in universal
voice, video, data web and mobile communications for
interactive media applications, technology and content
leaders in interactive multimedia communications. It
develops, markets and sells a universal media software
solution for enterprise-wide deployment of integrated
voice, video, data web and mobile communications and media
applications. Telecom Communications, Inc. does business in
Asia via its wholly owned subsidiaries, Alpha Century
Holdings Ltd., IC Star MMS, Ltd. ( http://www.skyestar.com
), Guangzhou TCOM Computer Technology Limited (
http://www.mystaru.com ) and majority owned subsidiary HRDQ
Group, Inc. ( http://www.subaye.com ).
Safe Harbor
The statements made in this release constitute
"forward-looking" statements, usually containing
the words "believe," "estimate,"
"project," "expect," or similar
expressions. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements inherently
involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, changing
economic conditions, interest rates trends, continued
acceptance of the Company's products in the marketplace,
competitive factors and other risks detailed in the
Company's periodic report Filings with the Securities and
Exchange Commission. By making these forward- looking
statements, the Company undertakes no obligation to update
these statements for revisions or changes after the date of
this release.
For more information, please contact:
Ms. Sandy Tang
Telecom Communications, Inc.
Tel: +852-782-0983
Email: pr@tcom8266.com
2007'03.08.Thu
Panama International Merchandise Mart S.A. Creates Latin America's First Merchandise Mart
March 08, 2007
COLON CITY, Panama, March 8 /Xinhua-PRNewswire/ -- Yet
unseen in Latin America, the Panama International
Merchandise Mart (PIMM) is under development near the Colon
Free Zone as the region's first Wholesale Merchandise Mart.
The Mart offers a unique wholesale concept because most
Latin American and Caribbean buyers cannot enter the United
States due to visa restrictions. Thanks to the Panama
International Merchandise Mart, Latin American buyers will
be able to visit our mart and place orders, announced
company founder Reynald Henry Katz.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20070226/MXM001 )
Panama International Merchandise Mart S.A. will be
built on 92 acres. The project's first phase will cost $50
million, and the entire project will reach $1 billion by
2015.
The PIMM will complement the Colon Free Zone logistic
operation because merchandise sold there will be shipped
either from the Colon Free Zone or from manufacturer's
plants to their final destination. Trade at the Colon Free
Zone reached $14.8 billion in 2006, a 17.7 % increase
compared to the prior year. With plenty of warehouse space
available but with show room space availability being at its
maximum capacity and some 2,500 companies waiting to operate
at the Colon Free Zone, PIMM is poised to fill the gap and
become the best alternative for Latin American buyers. PIMM
is a project of national economic interest, said Katz.
It is estimated that each showroom's yearly trade will
reach $2 million, and with 672 showrooms, the Mart should
generate $1.3 billion by 2009 and
$6 billion by 2010.
The concept is simple: Offer manufacturers from around
the world the ability to buy and operate their own
permanent showroom at the PIMM near the Colon Free Zone, a
wholesale mall environment that will allow them to reach
450 million Latin American and Caribbean consumers.
With a stable government, the U.S. dollar as legal
tender, inflation at just 2.3 %, and no tax on profit
because of its offshore status, Panama is today the best
place to invest in Latin America. It is considered the hub
of Latin America and the Caribbean, said Katz.
Showroom sales will range from between $1,600.00 and
$2,000.00 per square meter; construction costs are
approximately $500.00 or less. Profitability is tremendous
and investor returns should be generous, said Katz.
When complete, the Mart will feature 3,000 showrooms, a
convention center, an exposition center, hotels, office
parks, housing developments, and banks. An estimated
25,000 people are expected to visit the Mart daily through
2010, and there is still room for expansion on the 92 acres
of land -- The sky is the limit, said Katz.
(WWW.PANAMAMERCHANDISEMART.COM)
PIMM expects its stock to be trading soon on the Panama
Stock Exchange. Actually a private placement is taking
place, and, at its initial public offering, the stock
should be traded at above $2.00 per share. Twenty-five
percent of the company will be sold on a fully diluted
basis of $200 million pre-money valuation.
For more information, please contact:
Reynald Henry Katz
Panama International Merchandise Mart
Tel: +011-507-66-79-3600
Email: Info@Panamamerchandisemart.com
2007'03.08.Thu
GFI Opens Seoul Office
March 08, 2007
Leading Inter-Dealer Broker Expands in Asia
LONDON, March 8 /Xinhua-PRNewswire/ -- GFI Group
(Nasdaq: GFIG) has opened an office in Seoul. It will
operate as GFI Korea Money Brokerage Ltd, broking Korean
interest rate swaps and Korean deliverable forwards and
non-deliverable forwards.
The office will be headed by Elisha Choi, a senior GFI
broker. Mrs Choi moves to Korea from GFI's Singapore
office, where she has been in charge of GFI's Korean desks
for the past two years. Mrs Choi will report to Jurgen
Breuer, GFI's senior managing director, Asia, and will
manage GFI's 18 broking, technology and other support staff
in Seoul.
"GFI is continually looking to apply its brokering
and technology expertise to new opportunities in Asia and we
have been focusing on Korea for some time," said Mr
Breuer. "GFI is proud to have been granted the
brokering license as part of the financial market reforms
in Korea and we have moved extremely fast to get all our
Korean operations onshore."
Mr Breuer added that GFI was planning to add further
products in Korea such as credit derivatives and equity
options.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. ( http://www.GFIgroup.com ) is a leading
inter-dealer broker specializing in over-the-counter
derivatives products and related securities. GFI Group Inc.
provides brokerage services, market data and analytics
software products to institutional clients in markets for a
range of credit, financial, equity and commodity
instruments.
Headquartered in New York, GFI was founded in 1987 and
employs more than 1,400 people with additional offices in
London, Paris, Hong Kong, Tokyo, Singapore, Sydney,
Englewood (NJ), and Sugar Land (TX). GFI provides services
and products to over 2,000 institutional clients, including
leading investment and commercial banks, corporations,
insurance companies and hedge funds.
Its brands include GFI(TM), GFInet(R), CreditMatch(R),
Starsupply(R), Amerex(R) and FENICS(R).
Forward-looking statement
Certain matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this
press release, the words "anticipate,"
"believe," "estimate," "may,"
"might," "intend," "expect"
and similar expressions identify such forward-looking
statements. Actual results, performance or achievements
could differ materially from those contemplated, expressed
or implied by the forward-looking statements contained
herein. These forward-looking statements are based largely
on the expectations of the Company and are subject to a
number of risks and uncertainties. These include, but are
not limited to, risks and uncertainties associated with:
economic, political and market factors affecting trading
volumes; securities prices or demand for the Company's
brokerage services; competition from current and new
competitors; the Company's ability to attract and retain
key personnel, including highly-qualified brokerage
personnel; the Company's ability to identify and develop
new products and markets; changes in laws and regulations
governing the Company's business and operations or
permissible activities; the Company's ability to manage its
international operations; financial difficulties experienced
by the Company's customers or key participants in the
markets in which the Company focuses its brokerage
services; the Company's ability to keep up with
technological changes; and uncertainties relating to
litigation. Further information about factors that could
affect the Company's financial and other results is
included in the Company's filings with the Securities and
Exchange Commission. The Company does not undertake to
publicly update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
For more information, please contact:
Alan Bright
PR Manager
GFI Group Inc.
Tel: +44-20-7877-8049
Email: alan.bright@gfigroup.co.uk
SOURCE GFI Group Limited
2007'03.08.Thu
ZOOOF.COM Launches New Generation Family Trees Website
March 08, 2007
AMSTERDAM, Netherlands, March 8 /Xinhua-PRNewswire/ --
ZOOOF.COM, a leading online genealogy service and social
networking website announces the launch of its family trees
website, available in 35 languages.
Built on the theory of "six degrees" of
separation, in which all individuals are supposedly
connected to one another in some way by no more than
"six degrees" of relationships, ZOOOF.COM is
striving to break down cultural and political barriers to
show the connections.
Following a successful 'invitation-only' trial period,
ZOOOF.COM is now open to all. Anyone can join and in true
viral fashion, individuals have the opportunity to build
their family trees online adding other family members. Each
member creates a profile and can build upon the effort
created by the family's 'founder', extending the family to
other families and geographies.
Jean-Paul Busker, CEO, ZOOOF.COM, commented, "Our
goal is to bring people closer together through family and
show how closely related they are to others, including
celebrities, heroes and royalty. The internet has enabled
the interactive family tree to become a reality."
ZOOOF members can also discover, expand and maintain
family ties in a wide variety of ways: by tracing their
ancestry, building a contemporary interactive family tree,
inviting family members to a private environment, chatting,
mailing, sharing, and writing a biography, and immortalizing
their family history.
Over the coming months, ZOOOF.COM plans to introduce
several new features and tools, including the option of
uploading genealogy files and continued improvement of its
current Web-based software. It already has an interactive
game, 'ZOOOF Explorers', in which players hand flags to
other members around the world to generate points,
spreading ZOOOF's message of "we're all one big
family".
Notes to editors
Co-founder Jean-Paul Busker came up with the idea for
ZOOOF.COM in 2005 when he decided he wanted to start his
own modern art project with the goal of uniting the world
via 12 family "levels." At the time he was an art
gallery owner in Amsterdam allowing people to vote on the
Internet to decide what works they wanted to see in the
physical gallery. Fascinated about a story he'd heard about
Six Degrees he began to wonder about the 'real degrees' of
life and started ZOOOF as an art project with co-founder
Stefan Leenen, a computer science student.
For more information, please contact:
Jean-Paul Busker,
CEO,
ZOOOF.COM
Tel: +31-20-6208888
Mobile: +31-6-52416251
Email: jpbusker@ZOOOF.COM
2007'03.08.Thu
FDA Accepts for Review New Roche Diagnostics Blood Screening Test
March 08, 2007
Automated test is designed to detect broader range of HIV
and hepatitis in a single multiplex assay
PLEASANTON, Calif., March 8 /Xinhua-PRNewswire/ --
Roche Diagnostics announced today that the United
States (U.S.) Food & Drug Administration has accepted
for review its application for a new test designed to
detect a broad range of human immunodeficiency virus (HIV)
and viral hepatitis infections in donated blood and plasma.
The test, called the cobas TaqScreen MPX Test, uses
real-time PCR to detect HIV type 1 (Groups M & O), HIV
type 2, hepatitis C virus (HCV), and hepatitis B virus
(HBV) in a single multiplex assay. The test is designed for
use on Roche's newly automated, modular cobas s 201
platform. Nucleic acid amplification technologies such as
PCR allow earlier and more specific detection of active
infections in donated blood than earlier generation
serology tests, helping to ensure a safer blood supply and
retention of donors who would otherwise be deferred.
"We are pleased to have reached this important
milestone in bringing multiplex testing and full automation
to the U.S. blood-screening market," said Daniel O'Day,
head of Roche Molecular Diagnostics, a business area of
Roche Diagnostics that developed the test. "We
believe this automated test, with detection of HIV-1 Group
O and HIV-2, may help blood banks and laboratories improve
blood safety, workflow efficiency, and donor retention. In
addition, the system's modular design and optional built in
back-ups are designed to minimize downtime in this highly
time-sensitive industry."
The U.S. Centers for Disease Control estimates that
there are more than a million people in the U.S. living
with HIV/AIDS, with an additional 40,000 people being
infected each year. It is estimated that 300,000 infected
persons are unaware of their HIV status. More than 4
million people in the U.S. have been infected with HCV, 3.2
million of whom are chronically infected. HCV is the leading
cause of liver cancer in the U.S. and is the leading
diagnosis in patients undergoing liver transplantation.
More than 1,200,000 people are chronically infected with
HBV and about 5,000 people die of complications of HBV
every year. Many individuals with HBV and HCV show no
symptoms of disease and do not know that they are infected.
These individuals may attempt to donate blood. The cobas
TaqScreen MPX assay is designed to identify infected blood
from these potential donors, before they inadvertently
transmit infection to others.
About HIV-1 and HIV-2(i)
Human immunodeficiency virus type 1 (HIV-1) was
discovered in 1984, 3 years after the first reports of a
disease that was to become known as AIDS. In 1986, a second
type of HIV -- less common in the U.S. -- was discovered,
called HIV-2. The most common form of HIV-1 is called HIV-1
Group M. In 1994, the first report confirming the
identification of a different form of HIV-1, called HIV-1
Group O, was published, with the first case in the U.S.
being reported in 1996.
About Roche and the Roche Diagnostics Division
Headquartered in Basel, Switzerland, Roche is one of
the world's leading research-focused healthcare groups in
the fields of pharmaceuticals and diagnostics. As the
world's biggest biotech company and an innovator of
products and services for the early detection, prevention,
diagnosis and treatment of diseases, the Group contributes
on a broad range of fronts to improving people's health and
quality of life. Roche is a world leader in diagnostics, the
leading supplier of drugs for cancer and transplantation and
a market leader in virology. In 2006 sales by the
Pharmaceuticals Division totaled 33.3 billion Swiss francs,
and the Diagnostics Division posted sales of 8.7 billion
Swiss francs. Roche employs approximately 75,000 people in
150 countries and has R&D agreements and strategic
alliances with numerous partners, including majority
ownership interests in Genentech and Chugai. Roche's
Diagnostics Division offers a uniquely broad product
portfolio and supplies a wide array of innovative testing
products and services to researchers, physicians, patients,
hospitals and laboratories world-wide. For further
information about Roche, please visit our website
www.roche.com.
For more information about Roche Molecular Diagnostics,
please visit http://molecular.roche.com .
Tests under review by the FDA are not available for use
in the United States until the agency has approved the
application for each test.
NOTE: All trademarks used or mentioned in this release
are legally protected by law.
(i) Information in this section comes from the United
States Centers for Disease Control website at
http://www.cdc.gov and from the United States Food and Drug
Administration web site at
http://www.fda.gove/bbs.topics/ANSWERS/ANS00747.html .
For more information, please contact:
Rick Roose
Roche Molecular Diagnostics
Tel: +1-925-730-8415
Email: rick.roose@roche.com
2007'03.08.Thu
Hurray! Reports Fourth Quarter and Fiscal 2006 Unaudited Financial Results
March 08, 2007
BEIJING, March 8 /Xinhua-PRNewswire/ -- Hurray! Holding
Co., Ltd.
(Nasdaq: HRAY), a leader in wireless music distribution and
other wireless
value-added services, artist development and music
production, and wireless
value-added services management software in China, today
announced its
unaudited financial results for the fourth quarter and
fiscal year ended
December 31, 2006.
FINANCIAL HIGHLIGHTS:
Highlights for Fourth Quarter 2006
* Total revenues: $17.0 million, decline of 5.6%
quarter-over-quarter and
growth of 6.3% year-over-year, meeting previous
guidance of $17.0
million to $18.0 million
* Wireless value-added services revenues: $15.1
million, decline of 7.8%
quarter-over-quarter and growth of 11.5%
year-over-year
* Software and system integration services revenues:
$0.1 million, decline
of 11.9% quarter-over-quarter and decline of 93.1%
year-over-year
* Recorded music revenues, which are from our record
label businesses:
$1.8 million, growth of 18.7% quarter-over-quarter
* Net income: $1.6 million, decline of 2.7%
quarter-over-quarter and
decline of 47.8% year-over-year
* Adjusted EBITDA (a non-GAAP measure which is defined
as earnings before
interest, tax, depreciation, amortization and
stock-based compensation):
$1.4 million, decline of 32.1% quarter-over-quarter
and decline of 48.1%
year-over-year
* Diluted earnings per ADS: $0.07
Highlights for Fiscal Year 2006
* Total revenues: $70.1 million, growth of 10.7% as
compared with $63.4
million for 2005
* 2.5G services revenues: $29.9 million, decline of
16.7% as compared with
$35.9 million for 2005
* 2G services revenues: $32.6 million, growth of 61.8%
as compared with
$20.1 million for 2005
* Software and system integration services revenues:
$1.4 million, decline
of 80.7% as compared with $7.3 million for 2005
* Recorded music revenues, which represent the full
year contribution from
our new record label businesses we entered this year:
$6.2 million
* Net income: $5.8 million, decline of 68.8% as
compared with $18.6
million for 2005
* Adjusted EBITDA (a non-GAAP measure which is defined
as earnings before
interest, tax, depreciation, amortization and
stock-based compensation):
$7.4 million, decline of 62.1% as compared with $19.6
million for 2005
* Diluted earnings per ADS: $0.26
Commenting on the fourth quarter results, QD Wang,
Chairman and CEO of
Hurray! stated: "We are pleased to report a solid
quarter which meets our
previous estimate despite renewed deterioration in our
operating environment
during December. Going forward, we will continue our
strategy of developing
proprietary contents and diversifying distribution
channels, while
transforming ourselves into a leading entertainment content
production and
distribution house in China."
BUSINESS RESULTS
Total revenues for the fourth quarter ended December
31, 2006 were $17.0
million, representing a 5.6% decrease from $18.0 million
for the preceding
quarter, and a 6.3% increase from $16.0 million for the
fourth quarter in
2005.
Total revenues for fiscal year 2006 were $70.1 million,
representing a
10.7% increase from $63.4 million for fiscal year 2005.
Total wireless value-added services revenues were $15.1
million for the
fourth quarter of 2006, a decline of 7.8% as compared with
$16.4 million in
the previous quarter and growth of 3.7% as compared with
$14.6 million in the
fourth quarter of 2005.
2.5G services revenues were $6.5 million for the fourth
quarter of 2006,
representing a decline of 11.8% as compared with $7.4
million for the previous
quarter and a decline of 23.5% as compared with $8.5
million for the fourth
quarter of 2005.
Of 2.5G services, WAP revenues were $5.1 million, a
decline of 2.0% as
compared with $5.2 million in the previous quarter and a
decline of 31.1% as
compared with $7.4 million in the fourth quarter 2005. The
decline of WAP
revenues in the quarter was a result of new regulations
implemented in the
quarter mandating free trial periods and double reminders
for subscription
based services.
MMS revenues were $0.6 million, a decline of 24.0% as
compared with $0.8
million in previous quarter and 45.5% as compared with $1.1
million in the
fourth quarter of 2005. The decline of MMS revenues in the
quarter was a
result of the same regulations that impacted our WAP
revenues.
Java(TM) revenues were $0.7 million for the fourth
quarter 2006,
representing a decline of 51.0% as compared with $1.4
million in the previous
quarter. We acquired Shanghai Magma at the beginning of the
year and have
consolidated its operations since first quarter 2006.
2G services revenues were $8.6 million for the fourth
quarter of 2006,
representing decline of 4.5% as compared to $9.0 million
for the previous
quarter and a growth of 41.6% as compared to $6.1 million
for the fourth
quarter of 2005.
Of 2G services, SMS revenues were $5.3 million for the
fourth quarter of
2006, representing a decline of 2.7% as compared with $5.5
million in the
previous quarter and an increase of 89.3% as compared with
$2.8 million in the
fourth quarter of 2005. The annual increase in SMS revenues
was due to our
increased direct media advertising efforts commenced
earlier.
IVR revenues were $2.3 million for the fourth quarter
of 2006, a decline
of 12.6% as compared with $2.6 million for the previous
quarter and a decline
of 12.6% as compared with $2.6 million for the fourth
quarter of 2005.
RBT revenues were $1.0 million for the fourth quarter
2006, representing
growth of 6.2% as compared with $0.9 million in the
previous quarter, and
growth of 42.9% as compared with $0.7 million for the
fourth quarter of 2005.
Total wireless value-added services revenues for fiscal
year 2006 were
$62.5 million, an increase of 11.5% as compared with $56.1
million in fiscal
year 2005.
2.5G services revenues were $29.9 million for fiscal
year 2006,
representing a decline of 16.7% as compared with $35.9
million for fiscal year
2005.
Of 2.5G services, WAP revenues were $21.4 million, a
decline of 37.4% as
compared with $34.2 million in fiscal year 2005.
MMS revenues were $4.0 million, an increase of 135.3%
as compared with
$1.7 million for fiscal year 2005.
Java(TM) revenues were $4.2 million, predominantly from
our acquisition of
Shanghai Magma at the beginning of the year, as compared
with nil 2005.
2G services revenues were $32.6 million for fiscal year
2006, representing
growth of 61.8% as compared to $20.1 million for the
previous year.
Of 2G services, SMS revenues were $18.4 million for
fiscal year 2006,
representing an increase of 72.7% as compared with $10.6
million for fiscal
year 2005.
IVR revenues were $10.8 million for fiscal year 2006,
as compared with
$8.5 million for the previous year.
RBT revenues were $3.4 million for fiscal year 2006, as
compared with $1.0
million in fiscal year 2005.
Software and system integration services revenues were
$0.1 million for
the fourth quarter of 2006, representing a decline of 11.9%
as compared with
$0.1 million for the previous quarter and a decrease of
93.1% as compared with
$1.4 million for the fourth quarter of 2005.
For fiscal year 2006, software and system integration
services revenues
were $1.4 million, a decline of 80.7% from $7.3 million for
fiscal year 2005.
Recorded music revenues, which represent revenues of
our controlled music
companies Hurray! Freeland Music and Huayi Brothers Music,
were $1.8 million,
an increase of 18.7% as compared with $1.5 million in the
previous quarter.
The growth of recorded music revenues in the fourth quarter
is due to new
releases by our two music label companies in the quarter.
Total recorded music revenues for fiscal year 2006 were
$6.2 million, as
compared with nil in 2005.
Total gross margin was 31.2% for the fourth quarter of
2006 as compared
with 37.6% for the previous quarter and 41.5% for the
fourth quarter of 2005.
For fiscal year 2006, total gross margin was 35.6% as
compared with 52.7%
for fiscal year 2005.
Gross margin for wireless value-added services was
31.9% for the fourth
quarter of 2006, as compared with 36.9% in the previous
quarter and 36.8% for
the fourth quarter of 2005.
Gross margin for 2.5G services was 41.8% for the fourth
quarter of 2006,
as compared to 48.2% for the previous quarter and 56.3% for
the fourth quarter
of 2005. The decrease in 2.5G gross margin was due to an
increase in content
and promotion costs.
Gross margin for 2G services was 24.4% for the fourth
quarter of 2006, as
compared to 27.7% for the previous quarter and 9.6% for the
fourth quarter of
2005. The quarterly decrease in 2G gross margin was due to
an increase in
direct media advertising cost.
Gross margin for wireless value-added services was
34.9% for fiscal year
2006 as compared with 48.9% for fiscal year 2005.
Gross margin for 2.5G services was 46.4% for fiscal
year 2006 as compared
with 58.5% for fiscal year 2005 due to the decrease of
revenue and increase in
higher cost associated with marketing promotions.
Gross margin for 2G services was 24.4% for fiscal year
2006 as compared
with 31.9% for the fiscal year 2005 due to the increased
direct media
advertising cost.
Software and system integration services gross margin
was -109.9% for the
fourth quarter of 2006, as compared to 39.5% for the
previous quarter and
88.9% for the fourth quarter of 2005.
Gross margin for software and system integration
services was 32.8% for
fiscal year 2006 as compared with 82.1% for the fiscal year
2005.
Recorded music gross margin was 33.6% for the fourth
quarter of 2006 as
compared to 45.1% in the previous quarter, reflecting
increased costs
associated with new releases.
Recorded music gross margin was 42.7% for fiscal year
2006.
Total gross profit was $5.3 million for the fourth
quarter of 2006,
representing a decline of 21.6% as compared with $6.8
million for the previous
quarter and a decline of 19.9% as compared with $6.6
million for the fourth
quarter of 2005.
For fiscal year 2006, total gross profit was $25.0
million, a decline of
25.3% as compared with $33.4 million for fiscal 2005.
Total operating expenses were $4.7 million for the
fourth quarter of 2006,
representing a decline of 14.8% as compared to $5.6 million
for the previous
quarter and an increase of 8.5% as compared to $4.4 million
for the fourth
quarter of 2005. The decrease in operating expenses
quarter-to-quarter is
mostly due to our cost optimization program implemented in
the second and
third quarters of 2006; the increase year over year is
mainly due to the
expenses of the newly acquired music companies.
For fiscal year 2006, total operating expenses were
$21.0 million, an
increase of 32.8% as compared with $15.8 million for the
fiscal 2005.
Interest income for the fourth quarter of 2006 was $0.6
million as
compared to $0.7 million in the previous quarter. Income
tax was a credit of
$0.6 million in the fourth quarter 2006 compared to $0.2
million in the fourth
quarter of 2005 mainly as result of the reversal of
previously accrued tax as
one of our companies qualified for preferential tax rates.
For fiscal 2006, interest income was $2.6 million as
compared with $1.4
million in 2005, principally resulting from higher interest
rates, and income
tax expense was $0.1 million compared to $0.4 million in
2005.
Net income was $1.6 million for the fourth quarter of
2006, representing a
decrease of 2.7% as compared to $1.6 million for the
previous quarter, and a
decrease of 47.8% as compared to $3.0 million for the
fourth quarter of 2005.
Net margin was 9.2% for the fourth quarter of 2006 as
compared to 8.9% for the
previous quarter and 18.7% for the fourth quarter of 2005.
For the fiscal 2006, net income was $5.8 million, a
decline of 68.8% as
compared with $18.6 million for the fiscal 2005. Net margin
was 8.3% for the
year, as compared with 29.4% for the fiscal 2005.
Adjusted earnings before interest, tax, depreciation,
amortization and
stock-based compensation (adjusted EBITDA), was $1.4
million for the quarter,
a decline of 32.1% as compared with $2.1 million in the
previous quarter and a
decline of 48.1% as compared with $2.8 million in the
fourth quarter of 2005.
Reconciliations of net income under U.S. generally accepted
accounting
principles (GAAP) and adjusted EBITDA are included at the
end of this release.
Adjusted earnings before interest, tax, depreciation,
amortization and
stock-based compensation (adjusted EBITDA), was $7.4
million for fiscal year
2006, a decline of 62.1% as compared with $19.6 million in
the previous year.
Fully diluted earnings per ADS were $0.07 based on a
weighted average of
21.7 million diluted ADSs for the fourth quarter of 2006.
This figure compares
to $0.07 based on a weighted average of 21.7 million
diluted ADSs for the
previous quarter and $0.13 based on a weighted average of
22.4 million diluted
ADSs for the fourth quarter of 2005.
Fully diluted earnings per ADS were $0.26 based on a
weighted average of
22.1 million diluted ADSs for fiscal year 2006. This figure
compares with
$0.87 based on a weighted average of 21.2 million diluted
ADSs for fiscal
2005.
As of December 31, 2006, the company had outstanding
21.5 million basic
ADSs and 21.7 million fully diluted ADSs, excluding share
options granted
above the average market value of Hurray! stock for the
quarter as their
effect would have been anti-dilutive.
As of December 31, 2006, the company had $74.6 million
in cash and cash
equivalents.
The following tables compare key operating data for the
company's wireless
value added services business for the fourth quarter 2006
and fourth quarter
2005:
Fourth quarter 2006 revenue breakdown by operator and
by service platform:
China China China
China
Unit: $ million Mobile Unicom Telecom
Netcom Total
SMS $3.9 $1.4 $-
$- $5.3
IVR 1.3 0.4 0.5
0.1 2.3
RBT 0.5 0.4 0.1
- 1.0
2G Revenues 5.7 2.2 0.6
0.1 8.6
WAP 2.7 2.4 -
- 5.1
MMS 0.3 0.3 -
- 0.6
Java 0.8 - -
- 0.8
2.5G revenues 3.8 2.7 -
- 6.5
Total $9.5 $4.9 $0.6
$0.1 $15.1
Fourth quarter 2005 revenue breakdown by operator and
by service platform:
China China China
China
Unit: $ million Mobile Unicom Telecom
Netcom Total
SMS $0.9 $1.9 $-
$- $2.8
IVR 1.1 0.8 0.5
0.2 2.6
RBT 0.5 0.2 -
- 0.7
2G Revenues 2.5 2.9 0.5
0.2 6.1
WAP 2.9 4.5 -
- 7.4
MMS 1.1 - -
- 1.1
Java - - -
- -
2.5G revenues 4.0 4.5 -
- 8.5
Total $6.5 $7.4 $0.5
$0.2 $14.6
Fourth quarter 2006 revenue contribution % by operator
and by service
platform:
China China China
China
Mobile Unicom Telecom
Netcom Total
SMS 73.1% 25.6% 0.4%
0.9% 100.0%
IVR 54.9 18.3 22.4
4.4 100.0
RBT 54.3 39.1 6.2
0.4 100.0
2G Revenues 66.1 25.2 6.9
1.8 100.0
WAP 52.4 47.6 -
- 100.0
MMS 49.4 50.6 -
- 100.0
Java 99.6 0.4 -
- 100.0
2.5G revenues 58.2 41.8 -
- 100.0
Total 62.7% 32.3% 4.0%
1.0% 100.0%
Fourth quarter 2005 revenue contribution % by operator
and by service
platform:
China China China
China
Mobile Unicom Telecom
Netcom Total
SMS 32.1% 67.9% -%
-% 100.0%
IVR 42.3 30.8 19.2
7.7 100.0
RBT 71.4 28.6 -
- 100.0
2GRevenues 41.0 47.5 8.2
3.3 100.0
WAP 39.2 60.8 -
- 100.0
MMS 100.0 - -
- 100.0
Java 100.0 - -
- 100.0
2.5Grevenues 47.1 52.9 -
- 100.0
Total 44.5% 50.7% 3.4%
1.4% 100.0%
BUSINESS HIGHLIGHTS
Hurray! continued executing its strategy of developing
proprietary
contents and diversifying distribution channels, with the
following
highlights:
* Hurray! released a series of new songs, including:
- "Love and Respect" (Wan Zhong Ai Dai)
by Edell of Hurray! Freeland
Music
- "Mai Dou" by Shao Yuhan of Hurray!
Freeland Music
- "What I mean in Your Eyes" (Wo Dao Di
Suan Shen Me) by Pan Xiaofeng
of Hurray! Freeland Music
- "The One" by Jane Zhang of Huayi
Brothers Music
- "Hard to be friends" (Peng You Nan
Dang) by Yu Quan of Huayi
Brothers Music
- "Shinning Shinning" by Zhou Xun of
Huayi Brothers Music
* Hurray! signed up a number of new and top tier
artists, including:
- Yang Kun, a famous singer in China, which
produced hit songs "Never
Mind" (Wu Suo Wei) and "Moon Represent
My Heart" (Yue Liang Dai Biao
Wo De Xin) by Huayi Brothers Music.
- Lin Xinru, a famous TV star and singer in Taiwan,
by Huayi Brothers
Music
- Su Youpeng, a famous singer and TV star in
Taiwan, by Huayi Brothers
Music
* Hurray! launched 20 new titles on China Mobile's game
portal, including:
- "Sword of Fairy"
- "Visional Hubble-bubble"
- "Magma Millionaire in Shanghai"
- "Legend of Seal"
- "Ru Lai Shen Zhang"
* Hurray! launched successful marketing programs to
promote the new
releases simultaneously over Internet and wireless
platforms.
Consequently, "QQ Love", "What I Mean
in Your Eyes", "Keep Loving" and
"Wings" became popular hits in the fourth
quarter and ranked top 10 for
many consecutive weeks in the second quarter on both
China Mobile's
music portal and Baidu's music search platform.
* Music and game related revenues, representing
revenues from our recorded
music and our wireless value-added services with
music and game content,
were about 44% or $7.5 million of total revenues for
the quarter. This
compares to 40% or $6.5 million in the fourth quarter
of 2005.
* Wireless value-added services revenues generated from
operator-
independent marketing, promotion and distribution
such as direct media
advertising, interactive media programs, Internet
marketing alliances,
and handset vendor partnerships reached approximately
33%, or $5
million, of total wireless value-added services
revenues. This compares
to 22% or $3.2 million in the year ago quarter.
"Despite the challenging wireless services
operating environment, we
remain committed to our transformation strategies and
confident about our long
term prospect," commented Mr. Wang.
Business Outlook
For first quarter 2007, Hurray! expects its total
consolidated revenues to
be between $15.0 and $16.0 million, reflecting impact of
tightened enforcement
of policy and regulation changes previously announced by
MII and mobile
operators.
Note to the Financial Information
The financial information in this press release has
been extracted from
the financial information prepared using the recognition
and the measurement
basis of accounting principles generally accepted in the
United States of
America.
Conference Call
The company will host a conference call to discuss the
third quarter
results at
Time: 9:00 pm Eastern Standard Time on
March 7, 2007
or 10:00 am Beijing/Hong Kong Time
on March 8, 2007
The dial-in number: 800-884-5695 (US)
617-786-2960 (international)
Password: 86492786
A replay of the call will be available from March 7,
2007 until March 14,
2007 as follows:
888-286-8010 (US)
617-801-6888 (international)
PIN number: 32801076
Additionally, a live and archived web cast of this call
will be available
at:
http://phx.corporate-ir.net/playerlink.zhtml?c=187793&s=wm&e=1464167
or http://www.hurray.com/english/home.htm
About Hurray! Holding Co., Ltd.
Hurray! is a leading provider of music and
music-related products such as
ringtones, ringbacktones, and truetones to mobile users in
China through SMS,
IVR, RBT, WAP, MMS and Java wireless value-added services
platforms over
mobile networks and through the Internet. The company also
provides a wide
range of other wireless value-added services to mobile
users in China,
including games, pictures and animation, community, and
other media and
entertainment services.
In addition, Hurray! is a leader in artist development,
music production
and offline and online distribution in China through its
majority-controlled
record labels Huayi Brothers Music and Hurray! Freeland
Music.
Hurray! also designs, develops, sells and supports a
service provisioning
and management software for mobile operators in China to
manage wireless
value-added services.
Forward-looking Statements
This press release contains statements of a
forward-looking nature. These
statements are made under the "safe harbor"
provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify
these forward-
looking statements by terminology such as "will,"
"expects," "believes" and
similar statements. The accuracy of these statements may be
impacted by a
number of business risks and uncertainties that could cause
actual results to
differ materially from those projected or anticipated,
including risks related
to: continued competitive pressures in China's wireless
value-added services
market; changes in technology and consumer demand in this
market; the risk
that Hurray! may not be able to control its expenses in
future periods;
Hurray!'s ability to succeed in the music development,
production and
distribution business, with which it has only limited
experience; changes in
the policies of the mobile operators in China or the laws
governing wireless
value-added services; the state of Hurray!'s relationships
with China's mobile
operators and the risk that Hurray! may be subject to
further sanctions and
penalties from them in future periods; and other risks
outlined in Hurray!'s
filings with the Securities and Exchange Commission,
including its
registration statement on Form F-1, as amended. Hurray!
does not undertake any
obligation to update this forward-looking information,
except as required
under applicable law.
Hurray! Holding Co., Ltd.
Unaudited Condensed Consolidated Balance
Sheets
As of
December As of December
31, 2006
31, 2005(1)
(Unaudited)
(in
thousands of U.S. dollars)
Assets
Current assets:
Cash and cash equivalents $74,597
$75,959
Accounts receivable 13,178
18,089
Note receivable 272
-
Prepaid expenses and other current assets 2,701
1,859
Amount due from related parties 167
-
Inventories 178
437
Total current assets 91,093
96,344
Deposits and other non-current assets 632
1,502
Property and equipment, net 1,954
2,536
Acquired intangible assets, net 6,023
3,312
Goodwill 39,622
23,026
Non-current deferred tax assets -
140
Total assets $139,324
$126,860
Liabilities and shareholders' equity
Current liabilities:
Accounts payable $3,681
$3,731
Acquisition payable 5,832
154
Accrued expenses and other
current liabilities 2,613
3,210
Amount due to a related party -
202
Income tax payable 489
90
Deferred tax liability 530
248
Total current liabilities 13,145
7,635
Minority interests 3,359
605
Shareholders' equity:
Ordinary shares 108
111
Additional paid-in capital 73,608
77,336
Retained earnings 45,705
39,899
Accumulated other comprehensive income 3,399
1,274
Total shareholders' equity 122,820
118,620
Total liabilities and shareholders' equity $139,324
$126,860
(1) December 31, 2005 balances were extracted from
audited financial
statements.
Hurray! Holding Co., Ltd.
Unaudited Condensed Consolidated Statements of
Operations
For the three months ended For the
twelve months ended
December 31, December 31,
December 31, December 31,
2006 2005
2006 2005(1)
(in thousands of U.S. (in
thousands of U.S.
dollars, except share
dollars, except share
and per share data) and
per share data)
Revenues:
2G services $8,608 $6,078
$32,570 $20,131
2.5G services 6,498 8,496
29,941 35,932
Software and system
integration services 98 1,424
1,407 7,293
Recorded music 1,805 -
6,204 -
Total revenues 17,009 15,998
70,122 63,356
Cost of revenues:
2G services 6,508 5,492
24,615 13,714
2.5G services 3,784 3,715
16,057 14,921
Software and system
integration services 206 158
946 1,302
Recorded music 1,199 -
3,553 -
Total cost of
revenues 11,697 9,365
45,171 29,937
Gross profit 5,312 6,633
24,951 33,419
Operating expenses:
Product development 698 697
2,602 2,537
Selling and
marketing 2,751 2,791
11,921 9,797
General and
administrative 1,286 875
6,472 3,474
Total operating
expenses 4,735 4,363
20,995 15,808
Income from
operations 577 2,270
3,956 17,611
Interest expense 45 -
45 27
Interest income 587 553
2,576 1,428
Income tax expense (564) (174)
121 393
Minority interests (117) -
(562) -
Net income $1,566 $2,997
$5,804 $18,619
Earnings per
share, basic $0.0007 $0.0014
$0.0027 $0.0089
Earnings per
ADS, basic $0.07 $0.14
$0.27 $0.89
Earnings per
share, diluted $0.0007 $0.0013
$0.0026 $0.0087
Earnings per
ADS, diluted $0.07 $0.13
$0.26 $0.87
Shares used in
calculating
basic
earnings
per share 2,152,282,170 2,219,045,975
2,189,748,563 2,092,089,848
ADSs used in
calculating
basic
earnings
per ADS 21,522,822 22,190,460
21,897,486 20,920,898
Shares used in
calculating
diluted
earnings
per share 2,171,571,924 2,243,429,037
2,208,758,636 2,129,228,961
ADSs used in
calculating
diluted
earnings
per ADS 21,715,719 22,434,290
22,087,586 21,292,290
(1) December 31, 2005 balances were extracted from the
audited financial
statements.
The use of non-GAAP financial measures:
To supplement its consolidated financial statements
presented in
accordance with generally accepted accounting principles
("GAAP") in the
United States, Hurray! uses non-GAAP measures of operating
results and net
income, including in this press release earnings before
interest, taxes,
depreciation and amortization, and before stock-based
compensation expense
("adjusted EBITDA"), which are adjusted from
results based on GAAP to exclude
certain expenses. Hurray!'s management believes the use of
these non-GAAP
financial measures provide useful information to both
management and investors
by excluding certain expenses that are not related to the
Company's
operations. These non-GAAP financial measures also
facilitate management's
internal comparisons to Hurray!'s historical performance
and our competitors'
operating results. Hurray! believes these non-GAAP
financial measures are
useful to investors in allowing for greater transparency
with respect to
supplemental information used by management in its
financial and operational
decision making. The presentation of this additional
financial information is
not intended to be considered in isolation or as a
substitute for the
financial information prepared and presented in accordance
with GAAP. Please
see below financial table for a reconciliation of adjusted
EBITDA.
Reconciliation of net income under GAAP to adjusted
EBITDA for the
following periods:
For the three months ended For the
twelve months ended
December 31, December 31, December
31, December 31,
2006 2005 2006
2005(1)
(in thousands of U.S. (in
thousands of U.S.
dollars, except share
dollars, except share
and per share data) and
per share data)
Net income $1,566 $ 2,997 $5,804
$18,619
Add:
Interest expense 45 - 45
27
Income tax expense (564) (174) 121
393
Depreciation and
amortization 825 493 3,481
1,939
Non-cash stock
compensation
expense 158 17 545
38
Less:
Interest income 587 553 2,576
1,428
Adjusted EBITDA $1,443 $2,780 $7,420
$19,588
(1) December 31, 2005 balances were extracted from the
audited financial
statements.
For more information, please contact:
Phoebe Meng
Investor Relations Manager
Tel: 8610-84555566 x5532
yfmeng@hurray.com.cn
2007'03.08.Thu
Helppi Birthday Juha! Finn Sharp Shooter Takes Out Poker Brat to Win First PartyPoker.com Premier League Poker
March 08, 2007
MAIDSTONE, England, March 8 /Xinhua-PRNewswire/ -- Juha
Helppi celebrated his 30th birthday in style and avenged his
inner demons by winning the inaugural www.PartyPoker.com
Premier League Poker title. Helppi, from Helsinki, Finland
showed skill and patience in abundance to overcome a world
class field in a unique televised tournament, filmed at
Maidstone Studios, Kent, UK.
As well as celebrating his landmark birthday, the
flying Finn, who has also been a national paintball
champion, shot down poker legend Phil Hellmuth, who won his
landmark 10th WSOP bracelet at his expense last year.
"This was not about the money," said Helppi.
"If I hadn't beaten Phil it would have hurt really bad.
This is a big title with a top quality field and it
happened as I hit a big landmark in my life. I will
remember this forever. It is a perfect birthday
present."
Hellmuth had taken the field by storm earlier in the
week and went into the final as chip leader. Juha had
finished 3rd in the league table but had impressed all his
fellow players with his unbreakable focus. Juha continued:
"Phil really wanted to win this one and didn't take it
too well, I think I managed to tilt him on one occasion.
This does help with losing out on the bracelet and is
satisfying because the league structure means that skill
was so important." The final table lasted over 7
hours with 1.6 million chips in play and blinds starting at
1000/2000. The first player to be eliminated, England's
serial televised tournament winner Ian Frazer went after
five hours.
Phil was disappointed and instantly announced that he
wanted to play the Finn heads-up for US$100,000 but the
winner was too busy calling his girlfriend back home and
checking on his two-month year old son. The Poker Brat
certainly didn't disappoint those who love or loathe him
with his banter and behaviour all week. His table talk, in
particular, with Tony G, the Devilfish and the under the
table camera was as lively as ever. However, the Madison
Kid was gracious in defeat, "I have to give Juha
credit, he played very well all week," said Hellmuth.
Hellmuth eventually finished third after his kings were
cracked by Helppi's two pair -- when Juha called a pot sized
raise with 8-7 off suit before the flop-and this when
Hellmuth melted down and turned into the Poker Brat.
Hellmuth shouted, "You are such a donkey, how could
you call a US$50,000 reraise with eight seven off suit.
You tried to give me the chip lead!" German WSOP
bracelet holder Eddy Scharf finished runner-up after going
all in with 5-6 suited against Juha's Ace-2 off suit. At
the time the Finn had a 4-1 chip lead. Liz Lieu finished
fourth, Vicky Coren finished 5th and Ian Frazer finished
6th.
A PartyPoker.com spokesman said: "Halfway through
the tournament we thought we would just have to give the
trophy to Phil Hellmuth and halfway through the tournament
we thought we'd have to bring in a mediator so that
Devilfish, Tony G and Hellmuth could resolve the deep
seated issues they have with each other."
"Juha was a worthy champion and was respected by
all his fellow players. Everybody was thrilled by the
format of tournament and nobody involved doubts that it has
a big future."
The series, developed by Matchroom Sport, features 12
of the world's best players playing in a unique league
format for a US$500,000 pot. Each player bought in for
US$20,000, with PartyPoker.com adding US$260,000. The
field included Phil Hellmuth, Dave 'The Devilfish' Ulliott,
Tony G, Andy Black, Kiril Gerasimov, Liz Lieu, Ian Frazer,
Roland De Wolfe, Vicky Coren, Juha Helppi, Kenna James and
Eddy Scharf. PartyPoker.com Premier League Poker is due to
be broadcast in the UK on Channel 4 and internationally
later this year.
"Premier League Poker featured a fantastic format
filled with skill, twists and turns, great players and made
for electric television." Phil Hellmuth
"This is a totally different concept and will make
great television, it's like a poker Big Brother. It sets a
new bar for televised poker." Dave "The
Devilfish" Ulliott.
"The Premier League is the best poker event I have
ever played in. A real breakthrough for poker." Tony G
"This is one of the most exciting events I have
played in. The tournament really highlighted skill."
Liz Lieu
"It's the best made for television tournament I've
participated in." Roland De Wolfe
"It's the most fun I've had in a room with a group
full of men since the summer of 1976...but that is a
different story." Vicky Coren
"The PartyPoker.com Premier League event was
something that everyone involved in will never forget. When
we set out on this project we always envisaged that the
event would be something special but what evolved was the
most entertaining poker spectacle that the public will ever
witness. Twelve grueling heats, four heads up battles and
one stunning final table that features tears, joy, verbal
warfare and a camaraderie amongst players that has never
been seen before." Eddie Hearn, Director, Matchroom
Sport
PartyPoker.com is a popular member of PartyGaming Plc's
growing suite of online games that includes
www.PartyCasino.com , PartyBingo.com, www.PartyBets.com,
PartyGammon.com, Gamebookers.com and EmpirePoker.com.
For more information, please contact:
Warren Lush
PartyPoker.com
Email: warrenl@partygaming.com
2007'03.08.Thu
ContentGuard Licenses Digital Rights Management Patents to LGE for Mobile Handsets
March 07, 2007
EL SEGUNDO, Calif., March 7 /Xinhua-PRNewswire/ --
ContentGuard, Inc. a leading developer of digital rights
management (DRM) intellectual property, today announced a
global patent licensing agreement with LG Electronics Inc.
(LGE). Under the agreement, ContentGuard, which has a
large, foundational portfolio of DRM-related patents, has
licensed its DRM intellectual property and know-how to LGE
for the development, manufacturing and marketing of mobile
handset devices capable of receiving DRM-enabled content.
"We are extremely pleased that LGE will use our
intellectual property in its mobile devices to help advance
the secure delivery of digital content distribution in the
wireless realm," said Rob Logan, CEO of ContentGuard.
"This agreement adds another leading industry player
to our marquee list of licensees, and validates the
importance of our DRM patents for the future of digital
content delivery."
About ContentGuard, Inc.
ContentGuard develops and licenses the premier patent
portfolio in digital rights management (DRM) technology.
The Company's portfolio is comprised of 148 issued patents
and over 300 pending applications worldwide. ContentGuard
has developed strong relationships with companies that
facilitate the seamless movement of digital content across
devices, maintaining the rights of content owners and
meeting the needs of consumers. ContentGuard's major
shareholders are Microsoft Corporation, Thomson, and Time
Warner, Inc. For more information about ContentGuard and
its DRM technology please visit http://www.contentguard.com
.
For more information, please contact:
Media Contact:
Todd Schmidt
SVP - Business Development
Tel: +1-310-426-7962
Email: todd.schmidt@contentguard.com
2007'03.08.Thu
Xinhua Far East Assigns A- Issuer Credit Rating to Air China Limited
March 07, 2007
HONG KONG, March 7 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings ("Xinhua Far East") today
assigned an A- issuer credit rating to Air China Limited
("Air China" or "the Company", SH
601111, HK 753, LSE AIRC). The company's rating outlook is
stable.
(Logo:
http://www.xprn.com.cn/xprn/sa/200611140926.gif)
The rating reflects the company's overall leading
position in China's domestic airline industry, as well as
its strengths in terms of aircraft usage and geographic
balance of air routes. The rating also considers its
economy-driven growth potential, its relatively stable cash
flow generating capacity, its comparatively conservative
balance sheet, and the likely benefit arising from RMB
appreciation and future strategic cooperation with Cathay
Pacific Airways Limited. At the same time, the Chinese
aviation market is capital intensive in nature and highly
competitive, with profits being squeezed by high jet fuel
costs. The inherent market risks, as well as the liquidity
risks arising from the company's short-term debt levels,
prevent it from obtaining a higher rating.
Air China ranked number one in terms of total air
traffic throughput among domestic airlines from 2003 to
2005. This was a result of the company's leading market
position at the hub in Beijing, as well as its
well-balanced and complementary route network.
China's soaring economy has considerably stimulated the
aviation market, with our forecasts indicating that the
Chinese aviation market is set to see a compound annual
growth rate ("CAGR") of around 13% over the 2006
to 2010 period. This growth is set to benefit Air China,
even if its market share remains about the same moving
forward.
The rating also takes into consideration the company's
sound financial profile. Air China's EBIT margin is
relatively stable compared to its peers, a fact that held
true in 2003 during the SARS crisis, a reflection of Air
China's ability to weather storms. The company's capital
structure improved due to its completed IPO in Shanghai and
its healthy operating cash flow stream. Future RMB
appreciation is expected to benefit the airline further.
Our projections suggest Air China will be able to maintain
its current healthy capital structure, despite the heavy
capital expenditure required to expand its fleet.
The rating also considers Air China's strategic
cooperation with Cathay Pacific, with a cooperative
agreement expected to benefit the company through higher
sales in the overseas market, especially Hong Kong, Macau
and Taiwan. The agreement should also enhance its
management skills.
However, present competition in China's airline
industry is relatively fierce and centered on airfares due
to a lack of product differentiation. With more foreign
airlines and domestic private airlines entering the market,
competition is expected to intensify in the future.
We also note that jet fuel costs represented 34% of Air
China's total operating costs in 2005, attributable to
rising jet fuel prices and the expansion of its operating
fleet. In our view, the company needs to place greater
emphasis on further enhancing its operating efficiency to
improve its ability to transfer jet fuel costs. We also
note that Air China's gross debt in 2005 comprised 37.8% of
short-term debt, a situation which heightens the company's
liquidity risks.
As of June 30, 2006, Air China was the largest domestic
airline and operated a fleet of 192 aircraft, serving 72
domestic and 34 international and regional destinations.
China National Aviation Holding Company is the company's
controlling shareholder, holding a 56.06% stake after Air
China's A-share IPO on the Shanghai Stock Exchange in
August 2006.
Air China is also a constituent of the Xinhua/FTSE
China A50 Index. As of market close on March 6, 2007, its
total A-share market capitalization and investable
capitalization were RMB55.7 billion and RMB11.1 billion
respectively.
For the rating report summary, please contact us via
xfe@xinhuafinance.com
Note to Editors:
About FTSE/Xinhua China A50 Index
The FTSE/Xinhua China A50 Index is a real-time tradable
index comprising the largest 50 A Share companies by full
market capitalization. Designed to meet the needs of
QFIIs, it can be used as a basis for both on-exchange and
OTC derivative products, mutual funds and ETFs. For daily
data and further information, see http://www.xinhuaftse.com
.
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture in China that aims to rank credit risks
among corporations in China. It is a strategic alliance
between Xinhua Finance (TSE Mothers: 9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became a
Xinhua Finance partner company in 2003 and the first China
member of The Association of Credit Rating Agencies in Asia
in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East, Xinhua Far East's rating methodology and
process blend unique local market knowledge with
international rating standards. Xinhua Far East is
committed to provide investors with independent, objective,
timely and forward-looking credit opinions on Chinese
companies. It aims to help investors differentiate the
credit risks among the corporations in China, thereby,
cultivating their awareness and promoting information
disclosures and transparency in China market. For more
information, see http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 20 news bureaus
and offices in 19 locations across Asia, Australia, North
America and Europe. For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading professional credit rating company with
comprehensive business coverage in China. It is an
independent agency established by the Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted standards for capital market in China. The company
is a pioneer in conducting bond-rating business in China.
For years, it has been authorized by the Shanghai branch of
the PBOC to undertake loan certificate credit rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds and commercial papers, based on the
principles of objectivity, fairness and independence. The
company has also maintained over 50% market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With its strong local presence and
knowledge, it provides investors with unique and the most
insightful credit opinion. For more information, see
http://www.fareast-cr.com .
More Information:
Hong Kong
Joy Tsang, Corporate & Investor Communications
Director, Xinhua Finance
Tel: +852-3196-3983, +8621-6113-5999,
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
Taylor Rafferty (IR/PR Contact in US)
Ms. Ishviene Arora
Tel: +1-212-889-4350
Email: ishviene.arora@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'03.08.Thu
Verimatrix Scoops Best Content Security Award at IPTV World Forum Event
March 07, 2007
VCAS for IPTV Product Recognized for Contribution to
Security and Economics of New Pay-TV Deployments
IPTV WORLD FORUM, LONDON, March 7 /Xinhua-PRNewswire/
-- Verimatrix, setting the standard in content security
technologies that enhance the value of pay-TV networks,
last night collected the coveted IPTV World Series award
for Best IPTV Content Protection/Rights Management Solution
at London's IPTV World Forum. Verimatrix was rewarded for
its VCAS for IPTV 2.0 offering, which offers
telecommunications carriers, content aggregators and
resellers the high integrity content security they require
in their IP networks to offer a full range of live
broadcast and Video-on-Demand IPTV services. The honor is
given to the company that is best able to demonstrate
technical merit, direct customer benefits, proven impact
through deployments and overall contributes to getting IPTV
services to market.
(Logo: http://www.xprn.com.cn/xprn/sa/200703071640.jpg
)
In its first year, the IPTV World Series Awards was
judged by a panel of independent experts taken from the
IPTV sector and showcased for the most important
technologies and the finest talent in today's IPTV
industry.
"Content protection is one of the key technology
issues in the IPTV business today," said Steven C.
Hawley, principal of Advanced Media Strategies.
"Fundamental requirements include end-to-end
encryption and user-specific watermarking, to help protect
revenue for operators and content owners."
Collecting the award at last night's prestigious event,
Steve Oetegenn, chief sales and marketing officer at
Verimatrix added, "We've all worked hard to ensure
that our core content protection product, unique revenue
enhancement options and customer care services combine to
provide a best-in-class IPTV security system. It's a
testament to the teamwork that went into VCAS for IPTV that
the judges for the IPTV World Series recognize this
contribution to the pay-TV business."
Verimatrix beat short listed companies Harmonic Inc and
Irdeto to scoop the award.
About Verimatrix
Verimatrix sets the standard for software-based content
security and revenue enhancement technologies in pay-TV
networks, with a global customer base of telecommunications
providers. The Verimatrix Video Content Authority
System(TM) (VCAS) offers a suite of next-generation
technologies that protect content and enhance revenue
streams, while combating digital piracy wherever it occurs
within the distribution chain. The company's content
security experts maintain close relationships with the
major Hollywood studios to help address the challenges
facing pay-TV networks of today, and those of tomorrow.
Verimatrix's customers benefit with most favorable access
to premium content, enabling the richest, most versatile
viewing experience for their digital video subscribers.
For more information on why VCAS is the most widely
deployed IPTV content security system with tier one
operators, please visit http://www.verimatrix.com .
For more information, please contact:
Kelly Foster,
Verimatrix
Tel: +1-619-224-1261
Email: kfoster@verimatrix.com
Jaime Carron,
EML
Tel: +44-20-8408-8000
Email: jaimec@eml.com
2007'03.08.Thu
/C O R R E C T I O N - Grant Thornton/
March 07, 2007
In the news release, "Over 90% of Mainland China
Companies Include Women in Senior Management", issued
earlier today by Grant Thornton over Xinhua PR Newswire, we
are advised by the Company that in the 7th paragraph, the
title of "S¨¦gol¨¨ne Royal" should read
"French Socialist presidential candidate" rather
than "French President of France" as originally
issued inadvertently.
2007'03.08.Thu
Over 90% of Mainland China Companies Include Women in Senior Management
March 07, 2007
HONG KONG, March 7 /Xinhua-PRNewswire/ -- The latest
findings from the Experian(R) Grant Thornton International
Business Report (IBR) 2007, released today ahead of
International Women's Day on 8 Mar 2007, reveal that 91% of
mainland China companies have women in senior management
positions, taking the 2nd place after the Philippines (97%)
among the 32 countries/regions surveyed (see table 1).
"Despite some people's perception about
traditional sexism in the Chinese society, it is positive
to note that nowadays nine in ten businesses on the
mainland have women in senior management. Both Hong Kong
and Taiwan also have a high proportion of businesses with
women in senior levels, at 83% and 80% respectively. The
findings suggest that China businesses focus on capability
and performance when appointing senior management, but not
the gender," said Mrs. Alison Wong, partner of
specialist advisory services at Grant Thornton.
These figures revealed for the three places across two
shores position China ahead of many major western
countries, such as the US (69%), Canada (66%) and the UK
(64%), where gender equality is generally perceived as well
established.
"In fact, countries in Asia tend to have a higher
proportion of businesses with women participating in senior
management. Apart from China, almost all surveyed countries
in Asia have more businesses with women in senior levels
than the global average of 65%. The major exception to this
is Japan at 25%. Obviously Japan is unique in the cultural
perception about women in business and women's role in the
family as compared with other parts of Asia," said Dr.
William Thomson, Experian's global economic director.
Percentage of women in senior management roles
The percentage of women in senior managerial positions
reveals similar rankings of the 32 surveyed
countries/regions, with the Philippines taking the first
place (50%) and Japan ranking the lowest (7%). The three
places across two shores have more women in senior
management than the global average of 24%, with the
mainland in 6th place (32%), Hong Kong in 4th place (35%)
and Taiwan in 9th place (29%). (See table 2).
"It is encouraging that, when compared with
results of the same research carried out in 2004, it is
encouraging to see that Hong Kong has experienced increased
female representation in senior management in
businesses," commented Dr. Thomson.
"However, while the findings reflect an upward
trend of percentage of women in management roles for many
economies, there is only one country, the Philippines,
achieving true parity in male/female share in management.
Hopefully, we will see similar equality in other places in
the coming years as more women play -- such as Wu Yi,
Vice-premier of The State Council of the People's Republic
of China; Cheung Yan, Chairman of Nine Dragons Paper
Holdings Ltd; Indra Nooyi, the new CEO of PepsiCo; Gloria
Macapagal-Arroyo, President of the Philippines; Angela
Merkel, the Chancellor of Germany; S¨¦gol¨¨ne Royal,
President of France and Hilary Clinton, candidate for
president in the US presidential election of 2008 --
increasingly prominent roles in public life," added
Mrs. Wong.
Table 1.
Proportions of companies with women in senior
management
(% of respondents)
# 2007 2004
1 Philippines 97 85
2 Mainland China 91 -
3 Malaysia 85 -
4 Brazil 83 -
5 Hong Kong 83 74
6 Thailand 81 -
7 Taiwan 80 67
8 South Africa 77 74
9 Botswana 74 -
10 Russia 73 88
11 Greece 70 73
12 Sweden 69 60
13 United States 69 75
14 Singapore 67 66
15 Canada 66 64
16 Australia 64 70
17 UK 64 62
18 New Zealand 63 69
19 Poland 63 72
20 Spain 62 47
21 Armenia 60 -
22 Ireland 60 64
23 France 58 52
24 India 56 41
25 Turkey 54 57
26 Mexico 52 76
27 Argentina 47 -
28 Italy 42 48
29 Germany 41 34
30 Luxembourg 37 -
31 Netherlands 27 27
32 Japan 25 29
Global average 65 59
Table 2.
Women as a % of total in senior management
# 2007 2004
1 Philippines 50 39
2 Brazil 42 -
3 Thailand 39 -
4 Hong Kong 35 26
5 Russia 34 42
6 Mainland China 32 -
7 Botswana 31 -
8 South Africa 29 26
9 Taiwan 29 31
10 New Zealand 24 31
11 United States 23 20
12 Poland 23 36
13 Malaysia 23 -
14 Sweden 22 18
15 Armenia 22 -
16 Australia 22 22
17 France 21 21
18 Ireland 21 16
19 Singapore 21 23
20 Greece 21 22
21 Mexico 20 27
22 UK 19 18
23 Canada 19 22
24 Spain 17 14
25 Turkey 17 20
26 Argentina 16 -
27 Italy 14 18
28 India 14 12
29 Netherlands 13 9
30 Germany 12 16
31 Luxembourg 10 -
32 Japan 7 8
Global average 24 19
Source: Experian Grant Thornton International Business
Report (IBR) 2007
Notes to editors
About the Experian Grant Thornton International
Business Report (IBR)
Entering its 5th year, the Experian Grant Thornton
International Business Report (IBR) was carried out among
7,200 owners of medium to large privately held businesses
from 32 countries/territories during late 2006. Among them,
300, 250 and 150 medium to large privately held businesses
were surveyed in mainland China, Hong Kong and Taiwan
respectively. IBR began in 2002 and builds on the European
Business Survey (EBS) which Grant Thornton ran from 1993 to
2001. In 2007, the survey's name was changed from the
International Business Owners Survey (IBOS) to the
International Business Report (IBR). The research was
conducted by Experian Business Strategies Limited and
Harris Interactive. For more information, please visit
http://www.internationalbusinessreport.com .
About Grant Thornton
Grant Thornton is one of the leading accounting, tax,
and business advisory firms dedicated to serving the needs
of entrepreneurial and owner managed companies. In Hong
Kong and mainland China, Grant Thornton has offices in Hong
Kong, Beijing, Shanghai, Guangzhou and Shenzhen, employing
in excess of 650 people. Grant Thornton in Hong Kong is a
member of Grant Thornton International -- one of the
world's leading organisations of independently owned and
managed accounting and consulting firms providing
assurance, tax and specialist advice to independent
businesses and their owners. Firms operate in 110 countries
in 520 offices with more than 22,600 employees. For more
information, please visit http://www.gthk.com.hk .
About Experian
Experian provides an unrivalled understanding of
consumers, markets and economies in the UK and around the
world, past, present and future. The business is a market
leader in consumer profiling and market segmentation,
economic forecasting and public policy research, supporting
businesses, policy makers and investors in making tactical
and strategic decisions. Experian's economic forecasting
arm, Business Strategies, has operations in sixteen
countries: UK, France, Netherlands, Spain, Norway, Sweden,
Finland and Hong Kong -- China, Germany, Czech Republic,
Ireland, Greece, USA, Japan, Australia and New Zealand.
For more information about Experian go to
http://www.experian.com.hk/ebs/ .
For further information, please contact:
Grant Thornton
Mrs. Alison Wong (Partner - Specialist Advisory
Services)
Tel: +852-2218-3037
Email: alison.wong@gthk.com.hk
Estella Tsui (Marketing manager)
Tel: +852-2218-3207
Email: estella.tsui@gthk.com.hk
Experian
Dr William Thomson (Global economic director)
Email: william.thomson@uk.experian.com
Bruno Rost (PR manager)
Tel: +44-115-968-5009
Email: bruno.rost@uk.experian.com
2007'03.08.Thu
Over 90% of Mainland China Companies Include Women in Senior Management
March 07, 2007
HONG KONG, March 7 /Xinhua-PRNewswire/ -- The latest
findings from the Experian(R) Grant Thornton International
Business Report (IBR) 2007, released today ahead of
International Women's Day on 8 Mar 2007, reveal that 91% of
mainland China companies have women in senior management
positions, taking the 2nd place after the Philippines (97%)
among the 32 countries/regions surveyed (see table 1).
"Despite some people's perception about
traditional sexism in the Chinese society, it is positive
to note that nowadays nine in ten businesses on the
mainland have women in senior management. Both Hong Kong
and Taiwan also have a high proportion of businesses with
women in senior levels, at 83% and 80% respectively. The
findings suggest that China businesses focus on capability
and performance when appointing senior management, but not
the gender," said Mrs. Alison Wong, partner of
specialist advisory services at Grant Thornton.
These figures revealed for the three places across two
shores position China ahead of many major western
countries, such as the US (69%), Canada (66%) and the UK
(64%), where gender equality is generally perceived as well
established.
"In fact, countries in Asia tend to have a higher
proportion of businesses with women participating in senior
management. Apart from China, almost all surveyed countries
in Asia have more businesses with women in senior levels
than the global average of 65%. The major exception to this
is Japan at 25%. Obviously Japan is unique in the cultural
perception about women in business and women's role in the
family as compared with other parts of Asia," said Dr.
William Thomson, Experian's global economic director.
Percentage of women in senior management roles
The percentage of women in senior managerial positions
reveals similar rankings of the 32 surveyed
countries/regions, with the Philippines taking the first
place (50%) and Japan ranking the lowest (7%). The three
places across two shores have more women in senior
management than the global average of 24%, with the
mainland in 6th place (32%), Hong Kong in 4th place (35%)
and Taiwan in 9th place (29%). (See table 2).
"It is encouraging that, when compared with
results of the same research carried out in 2004, it is
encouraging to see that Hong Kong has experienced increased
female representation in senior management in
businesses," commented Dr. Thomson.
"However, while the findings reflect an upward
trend of percentage of women in management roles for many
economies, there is only one country, the Philippines,
achieving true parity in male/female share in management.
Hopefully, we will see similar equality in other places in
the coming years as more women play -- such as Wu Yi,
Vice-premier of The State Council of the People's Republic
of China; Cheung Yan, Chairman of Nine Dragons Paper
Holdings Ltd; Indra Nooyi, the new CEO of PepsiCo; Gloria
Macapagal-Arroyo, President of the Philippines; Angela
Merkel, the Chancellor of Germany; S¨¦gol¨¨ne Royal,
President of France and Hilary Clinton, candidate for
president in the US presidential election of 2008 --
increasingly prominent roles in public life," added
Mrs. Wong.
Table 1.
Proportions of companies with women in senior
management
(% of respondents)
# 2007 2004
1 Philippines 97 85
2 Mainland China 91 -
3 Malaysia 85 -
4 Brazil 83 -
5 Hong Kong 83 74
6 Thailand 81 -
7 Taiwan 80 67
8 South Africa 77 74
9 Botswana 74 -
10 Russia 73 88
11 Greece 70 73
12 Sweden 69 60
13 United States 69 75
14 Singapore 67 66
15 Canada 66 64
16 Australia 64 70
17 UK 64 62
18 New Zealand 63 69
19 Poland 63 72
20 Spain 62 47
21 Armenia 60 -
22 Ireland 60 64
23 France 58 52
24 India 56 41
25 Turkey 54 57
26 Mexico 52 76
27 Argentina 47 -
28 Italy 42 48
29 Germany 41 34
30 Luxembourg 37 -
31 Netherlands 27 27
32 Japan 25 29
Global average 65 59
Table 2.
Women as a % of total in senior management
# 2007 2004
1 Philippines 50 39
2 Brazil 42 -
3 Thailand 39 -
4 Hong Kong 35 26
5 Russia 34 42
6 Mainland China 32 -
7 Botswana 31 -
8 South Africa 29 26
9 Taiwan 29 31
10 New Zealand 24 31
11 United States 23 20
12 Poland 23 36
13 Malaysia 23 -
14 Sweden 22 18
15 Armenia 22 -
16 Australia 22 22
17 France 21 21
18 Ireland 21 16
19 Singapore 21 23
20 Greece 21 22
21 Mexico 20 27
22 UK 19 18
23 Canada 19 22
24 Spain 17 14
25 Turkey 17 20
26 Argentina 16 -
27 Italy 14 18
28 India 14 12
29 Netherlands 13 9
30 Germany 12 16
31 Luxembourg 10 -
32 Japan 7 8
Global average 24 19
Source: Experian Grant Thornton International Business
Report (IBR) 2007
Notes to editors
About the Experian Grant Thornton International
Business Report (IBR)
Entering its 5th year, the Experian Grant Thornton
International Business Report (IBR) was carried out among
7,200 owners of medium to large privately held businesses
from 32 countries/territories during late 2006. Among them,
300, 250 and 150 medium to large privately held businesses
were surveyed in mainland China, Hong Kong and Taiwan
respectively. IBR began in 2002 and builds on the European
Business Survey (EBS) which Grant Thornton ran from 1993 to
2001. In 2007, the survey's name was changed from the
International Business Owners Survey (IBOS) to the
International Business Report (IBR). The research was
conducted by Experian Business Strategies Limited and
Harris Interactive. For more information, please visit
http://www.internationalbusinessreport.com .
About Grant Thornton
Grant Thornton is one of the leading accounting, tax,
and business advisory firms dedicated to serving the needs
of entrepreneurial and owner managed companies. In Hong
Kong and mainland China, Grant Thornton has offices in Hong
Kong, Beijing, Shanghai, Guangzhou and Shenzhen, employing
in excess of 650 people. Grant Thornton in Hong Kong is a
member of Grant Thornton International -- one of the
world's leading organisations of independently owned and
managed accounting and consulting firms providing
assurance, tax and specialist advice to independent
businesses and their owners. Firms operate in 110 countries
in 520 offices with more than 22,600 employees. For more
information, please visit http://www.gthk.com.hk .
About Experian
Experian provides an unrivalled understanding of
consumers, markets and economies in the UK and around the
world, past, present and future. The business is a market
leader in consumer profiling and market segmentation,
economic forecasting and public policy research, supporting
businesses, policy makers and investors in making tactical
and strategic decisions. Experian's economic forecasting
arm, Business Strategies, has operations in sixteen
countries: UK, France, Netherlands, Spain, Norway, Sweden,
Finland and Hong Kong -- China, Germany, Czech Republic,
Ireland, Greece, USA, Japan, Australia and New Zealand.
For more information about Experian go to
http://www.experian.com.hk/ebs/ .
For further information, please contact:
Grant Thornton
Mrs. Alison Wong (Partner - Specialist Advisory
Services)
Tel: +852-2218-3037
Email: alison.wong@gthk.com.hk
Estella Tsui (Marketing manager)
Tel: +852-2218-3207
Email: estella.tsui@gthk.com.hk
Experian
Dr William Thomson (Global economic director)
Email: william.thomson@uk.experian.com
Bruno Rost (PR manager)
Tel: +44-115-968-5009
Email: bruno.rost@uk.experian.com
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