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Staples, Inc. to Announce Second Quarter 2013 Results on August 21, 2013

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Staples, Inc. to Announce Second Quarter 2013 Results on August 21, 2013

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Staples, Inc. (NAS: SPLS) will hold its quarterly conference call to discuss second quarter 2013 results on Wednesday, August 21, 2013 at 8:00 a.m. Eastern Time. To listen to the conference call via webcast, please visit Staples' Investor Relations website at http://investor.staples.com.

About Staples


Staples is the world's largest office products company and second largest internet retailer. For 27 years, Staples has served the needs of business customers and its vision is to provide every product businesses need to succeed. Through its world-class retail, online and delivery capabilities, Staples offers office supplies, technology products and services, facilities and breakroom supplies, furniture, copy and print services and a wide range of other product categories. With thousands of associates worldwide dedicated to making it easy for businesses of all sizes, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. The company is headquartered outside Boston. More information about Staples (NAS: SPLS) is available at www.staples.com.

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Staples, Inc.
Media Contact:
Kirk Saville/Owen Davis, 508-253-8530/8468
or
Investor Contact:
Chris Powers/Kevin Barry, 508-253-4632/1487

KEYWORDS:   United States  North America  Massachusetts

INDUSTRY KEYWORDS:

The article Staples, Inc. to Announce Second Quarter 2013 Results on August 21, 2013 originally appeared on Fool.com.

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Macy's Earnings Do Not Rise to the Challenge

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Clothes on hangersMacy's Inc. (NYSE: M) reported second-quarter 2013 results before markets opened this morning. The department store giant posted quarterly diluted earnings per share (EPS) of $0.72 on revenues of $6.07 billion. In the same period a year ago, Macy's reported EPS of $0.67 on revenues of $6.12 billion. This morning's numbers also compare to the Thomson Reuters consensus estimates for EPS of $0.78 and $6.26 billion in revenue.

In its outlook statement, Macy's said that it continues to expect same-store sales growth in the range of 2.5% to 4% in the second half of the year and a full-year rise of 2% to 2.9%. At the end of the first quarter, the retailer forecast a same-store sales increase of 3.5% for the 2013 fiscal year.

Macy's also lowered its outlook for 2013 EPS, from a range of $3.90 to $3.95 to a new range of $3.80 to $3.90. The consensus full-year estimates called for EPS of $3.94 on revenues of $28.33 billion.

The company's CEO said:

We had planned our second quarter sales with a lower increase than the first quarter because of a shift in a major promotional event. Even so, second quarter sales performance was softer than anticipated, and we are disappointed with the results. Our performance in the period, in part, reflects consumers' continuing uncertainty about spending on discretionary items in the current economic environment. After a cool spring, we have taken appropriate markdowns and customers are responding favorably.

Same-store sales fell 0.8% compared with the second quarter of 2012, but rose 1.5% for the first six months of the fiscal year.

Shares are down about 3.4% in premarket trading this morning, at $46.84 in a 52-week range of $36.30 to $50.77. Thomson Reuters had a consensus analyst price target of around $53.60 before today's results were announced.


Filed under: Retail Tagged: M

 

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API Technologies Receives $15 Million Contract from Canadian Government Agency for Secure Communicat

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API Technologies Receives $15 Million Contract from Canadian Government Agency for Secure Communication Systems

ORLANDO, Fla. & OTTAWA, Ontario--(BUSINESS WIRE)-- API Technologies Corp. (NAS: ATNY) ("API Technologies" or the "Company"), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced that the Company's Canadian-based EMCON® group, part of its Secure Systems and Information Assurance (SSIA) business, has partnered with a Global 2000 Canadian defence contractor to secure a major contract with a Canadian government agency for secure communication products. As part of the three-year agreement, EMCON will supply deployable secure communication suites, with a contract ceiling value of $15 million, of which the customer has already exercised $3.5 million.

No additional information may be shared due to the secure nature of the opportunity.


About API Technologies Corp.

API Technologies designs, develops and manufactures electronic systems, subsystems, RF and secure solutions for technically demanding defense, aerospace and commercial applications. API Technologies' customers include many leading Fortune 500 companies. API Technologies trades on the NASDAQ under the symbol ATNY. For further information, please visit the Company website at www.apitech.com.

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements. All forward-looking statements are subject to certain risks, uncertainties and assumptions which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to, general economic and business conditions, government regulations, our ability to integrate and consolidate our operations, our ability to expand our operations in both new and existing markets, the ability of our review of strategic alternatives to maximize stockholder value and the effect of growth on our infrastructure. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. The forward-looking statements in this news release should be read in conjunction with the more detailed descriptions of the above factors located in our Annual Report on Form 10-K under Part I, Item 1A "Risk Factors" as well as those additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. All information in this release is as of the date hereof. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements in this press release, whether as a result of new information, future events, or otherwise.

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API Technologies Corp.
Tara Flynn Condon, +1-908-546-3903
Vice President, Corporate Development & Marketing
investors@apitech.com

KEYWORDS:   United States  North America  Canada  Florida

INDUSTRY KEYWORDS:

The article API Technologies Receives $15 Million Contract from Canadian Government Agency for Secure Communication Systems originally appeared on Fool.com.

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Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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LiveWorld Reports Financial Results for the 2nd Quarter 2013

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LiveWorld Reports Financial Results for the 2nd Quarter 2013

19% Revenue Growth and Continued Profitability

SAN JOSE, Calif. & NEW YORK--(BUSINESS WIRE)-- LiveWorld, Inc. (OTC Markets: LVWD), today announced the financial results for the quarter ended June 30, 2013. Total revenues were $3.7 million for the quarter as compared to the $3.1 million for the quarter ended June 30, 2012. This was an increase of approximately $584,000 or 19% period-over-period. The Company's revenues for the six months ended June 30, 2013 were approximately $7.6 million, as compared to $5.8 million for the six months ended June 30, 2012. This was an increase of approximately $1.8 million or 31% period-over-period.


The Company reported net income for the first quarter of 2013 of $271,000, or 7% of total revenues. This result was a decrease of $139,000 when compared to the net income of $410,000, or 13% reported for the quarter ended June 30, 2012. The Company's net income for the six months ended June 30, 2013 was approximately $563,000, as compared to the net income of $684,000 for the six months ended June 30, 2012. This was a decrease of approximately $121,000 period-over-period.

The Company ended the quarter with approximately $3.9 million in cash and cash equivalents. The Company reported a positive working capital balance of approximately $3.4 million for the quarter ended June 30, 2013 as compared to the $2.8 million it had for the quarter ended December 31, 2012. The Company anticipates that its cash and cash equivalents will diminish for the remainder of this year as it expands its development, sales, and marketing efforts for the second half of 2013.

"We had a solid financial performance for the second quarter of the year with double digit revenue growth while maintaining profitability. We have been consistent with our strategy of increasing our investment in sales, marketing, and product development which has resulted in the reduced profitability over the first six months of 2013," said David Houston, Chief Financial Officer of LiveWorld. "We remain positive for 2013 and anticipate overall growth for the full year 2013."

Detailed quarterly financial information may be downloaded at www.liveworld.com (financials page) or at www.otcmarkets.com.

LiveWorld Solutions

LiveWorld, a social content marketing company managing social media for Fortune 1,000 brands through engagement, moderation, and insight. Our social media solutions provide a human touch scaled by technology that creates value out of user content, and provides big cost savings.

LiveWorld is a Facebook ® Preferred Marketing Developer (PMD) in the Pages category.

About LiveWorld

LiveWorld, a social content marketing company, is a trusted partner to the world's largest brands, including the number-one companies in retail, CPG, pharmaceutical, and financial/travel services. We revolutionize the management of user content through innovative technology, leading-edge services, and deep integration with client marketing and customer support teams. Scaling human review of user content and human touch points, LiveWorld removes obstacles faced by brands, allowing them to engage more deeply in social media. In an innovative approach that encompasses review, management, and analysis of user content, LiveWorld provides 24/7 brand protection through "always on" moderation and engagement across social channels, applications, and sites. The LiveWorld solution offers competitive advantage through management of user content in sheer volume, resulting in amplified brand presence, actionable insight, and increased customer loyalty. LiveWorld is headquartered in California, with offices in San Jose, CA and New York City, NY. For more information, go to www.liveworld.com. Follow us at @LiveWorld.

"Safe Harbor" Statement Under The Private Securities Litigation Reform Act

This press release may contain forward-looking information concerning LiveWorld's plans, objectives, future expectations, forecasts and prospects. These statements may include those regarding LiveWorld's current or future financial performance including but not limited to lists of clients, revenue and profit, use of cash, investments, relationships and the actual or potential impact of stock option expense, and the results of its product development efforts. The balance sheet, operating results, and statements of cash flows for the periods ended June 30, 2012 and 2013 and the period ended December 31, 2012 where neither audited nor reviewed by an independent accounting firm and are subject to change upon such a review or audit being completed. Actual results may differ materially from those expressed in the forward looking statements made as a result of, among other things, final accounting adjustments and results, LiveWorld's ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld's ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

 
LIVEWORLD, INC.
UNAUDITED CONDENSED BALANCE SHEETS
(In thousands, except share data)
   
June 30, December 31,
2013 2012
ASSETS
Current assets
Cash and cash equivalent $ 3,859 $ 3,382
Accounts receivable, net 3,127 1,415
Prepaid expenses   341   268
Total current assets 7,327 5,065
 
Property and equipment, net 291 234
Other assets   17   17
Total assets $ 7,635 $ 5,316
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 243 $ 235
Accrued employee expenses 640 504
Other accrued liabilities 33 17
Deferred revenue   3,016   1,478
Total current liabilities   3,933   2,234
Total liabilities 3,933 2,234
 
Stockholders' equity
Common stock: $0.001 par value, 100,000,000 shares authorized 33,257,634 issued and outstanding as of December 31, 2012 and June 30, 2013 respectively 33 33
Additional paid-in capital 141,235 141,178
Accumulated deficit   (137,566)   (138,129)
Total stockholders' equity   3,702   3,082
Total liabilities and stockholders' equity $ 7,635 $ 5,316
 
 
LIVEWORLD, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
(In thousands, except per share data)
       
Three Months Ended June 30, Six Months Ended June 30,
2013 2012 2013 2012
Total revenues $ 3,733 $ 3,149 $ 7,607 $ 5,789
Cost of revenues   1,185   1,025   2,411   1,851
Gross Margin 2,548 2,124 5,195 3,938
Operating Expense
Product development 521 432 1,049 822
Sales and marketing 1,024 751 2,125 1,384
General and administrative 687 511 1,389 1,018
Stock based compensation   32   18   58   37
Total operating expense   2,264   1,712   4,620   3,261
Profit from operations 284 412 575 677
Other income   0   0   0   10
Profit before tax 284 411 575 687
Provision for income taxes   (13)   (1)   (13)   (3)
Net income   271   410   563   684
 
Basic net income per share $ 0.01 $ 0.01 $ 0.02 $ 0.02
Shares used in computing basic net income per share 33,257,634 33,157,634 33,257,634 33,157,634
Diluted net income per share $ 0.01 $ 0.01 $ 0.01 $ 0.02
Shares used in computing diluted income (loss) per share 44,554,809 45,190,256 45,078,946 45,190,256
 
Departmental allocation of stock-based compensation:
Product development $ 12 $ 8 $ 22 $ 17
Sales and marketing 8 5 15 11
General and administrative   13   5   21   9
Total stock-based compensation $ 32 $ 18 $ 58 $ 37
 
 
LIVEWORLD, INC.
UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands)
 
  Three Months Ended June 30,   Six Months Ended June 30,
2013   2012 2013   2012
Cash flows from operating activities:
Net income $ 271 $ 410 $ 563 $ 684
Adjustments to reconcile net income (loss) provided by (used in) operating activities:
Depreciation of long-lived assets 33 19 60 39
Stock-based compensation 32 18 58 37
Changes in operating assets and liabilities:
Accounts receivable 1,149 1,763 (1,712) (1,297)
Other assets (106) (44) (73) (8)
Accounts payable (132) 49 8 259
Accrued liabilities (2) 48 152 172
Deferred revenue   208   34   1,539   2,049
Net cash provided by (used in) operating activities   1,453   2,297   595   1,935
Cash flows from investing activities:
Purchase of property and equipment   (97)   (29)   (117)   (89)
Net cash provided by (used in) investing activities   (97)   (29)   (117)   (89)
Cash flows from financing activities:
Note payable financing   -   (9)   -   (15)
Net cash provided by (used for) financing activities - - - -
Change in cash and cash equivalent 1,356 2,259 477 1,831
Cash and cash equivalents, beginning of period   2,503   895   3,382   1,323
Cash and cash equivalents, end of period $ 3,859 $ 3,154 $ 3,859 $ 3,154
 

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IR Contact:
LiveWorld
David Houston, 408-615-8496
dhouston@liveworld.com
or
PR Contact:
TallGrass PR
Erica Rutan, 908-684-4332
erica.rutan@tallgrasspr.com

KEYWORDS:   United States  North America  California  New York

INDUSTRY KEYWORDS:

The article LiveWorld Reports Financial Results for the 2nd Quarter 2013 originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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NTT America Expands Scope of NTel Ops, Launches NTel VPN

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NTT America Expands Scope of NTel Ops, Launches NTel VPN

MPLS-grade VPN Backed by NTel Ops, the Management Service that Now Supports Full IT Outsourcing

NEW YORK--(BUSINESS WIRE)-- NTT America, a global IT infrastructure services provider and wholly-owned subsidiary of NTT Communications Corporation (NTT Com), the data, cloud and international communications business within NTT (NYS: NTT) , today announced the expansion of its NTel Ops automated infrastructure management service and the launch of MPLS-grade NTel VPN. NTel Ops delivers automated remote monitoring of NTT Communications' Managed Private Networks, as well as third-party networks, and now a widely expanded range of IP-enabled communication devices. That expanded scope enables NTel Ops to support full IT outsourcing. With full-mesh network capability and QoS functionality, NTel VPN enables cost-effective and quick-to-install connectivity, backed by the management and remediation systems of NTel Ops.


@NTT_America expands NTel Ops automated infrastructure mgmt service & launches #MPLS-grade NTel #VPN: http://ow.ly/nGgy6Tweet This

NTel Ops Expands Device Management Scope

NTT America has expanded the range of devices covered by its NTel Ops automated infrastructure management service. NTT America launched NTel Ops in July 2012 with availability across both NTT Communications' Managed Private Networks and the networks of providers that NTT America manages on behalf of enterprise clients. NTel Ops initially focused on driving autonomic-based remediation and operational efficiencies on network-type devices, such as routers that connect to NTT Communications' global networks. In April 2013, NTT America expanded the capability of NTel Ops to include management of any type of device that is accessible via IP. This dramatic extension of hardware and software configuration items enables NTT America to provide full IT service management outsourcing via NTel Ops.

NTel Ops leverages automated expert systems to proactively monitor and resolve incidents across a client's global IT infrastructure, no matter how complex or heterogeneous, creating maximum operational efficiency and significant cost savings for the client. Common network problems are proactively detected and remediated autonomically, in minutes, without human intervention. Outcomes are consistent, predictable and free from human error. When a problem cannot be resolved without human intervention, the expert system automatically escalates the problem to the appropriate NTT America engineer. Within complex enterprise IT environments, correctly routed tickets decrease the mean time to repair (MTTR), support Service Level Agreements (SLAs), and help ensure 24X7X365 network uptime.

NTT America's NTel Ops Managed Service:

Follows ITIL® best practices - NTel Ops managed service aligns with the Information Technology Infrastructure Library v3 (ITIL-v3) framework for service delivery and service support, and is tiered accordingly.

Creates business value - NTel Ops relieves talented enterprise engineers from the burden of daily Level 1 and Level 2 network monitoring and management, giving them more time to provide value-added services.

Delivers faster response - NTel Ops supports enterprise requirements for the highest levels of network performance by proactively detecting, escalating, and resolving incidents more quickly than in the traditional manual approach.

Reduces Total Cost of Ownership (TCO) - NTel Ops enables companies to convert capital expenditures on management systems into operating expenditures on management services; decrease operating expenditures by eliminating human error and improving response time; and reduce technical training, and domestic and offshore labor costs for day-to-day network management through automation of business processes.

Increases visibility with new portal - NTel Ops' online management portal gives businesses a transparent, real-time view into the health of their IT environment, including reports measuring SLAs against objectives and other critical network utilization and performance reports.

NTel VPN Powered by NTel Ops and Full Mesh

NTel VPN is a managed global connectivity solution that provides flexible service design and centrally delivered, automated service transition and operations. Service design flexibility includes multiple connectivity types in 211 countries, fully managed or co-managed environments, and options to be a standalone network or coexist with MPLS as a backup and/or live network. The service's MPLS-grade VPN with full-mesh capability avoids the configuration complexity of traditional IPSec VPN by dynamically setting up VPN tunnels. Powered by NTel Ops, NTel VPN applies this full mesh capability in a standardized format across the customer environment by leveraging automation to deliver zero-touch provisioning, automated monitoring and triage.

Designed primarily for small- to medium-sized enterprise offices deployed in multiple geographies, NTel VPN delivers secure virtual private connections over the Internet in a standardized fashion. NTel Ops-backed monitoring and management provides the capability for quick troubleshooting and rapid problem resolution, and centralized deployment capabilities enable quick setup for new office/remote office scenarios. NTel VPN is an ideal connectivity service for companies that are involved in mergers and acquisitions (M&A) activities and therefore need to quickly add new offices to the corporate network; companies with many smaller, branch offices; and companies that utilize consultants who are only at certain locations for contracted periods of time and need to spin up/down quickly with MPLS-grade sites. Flexible design options can be tailored to enterprise requirements. When purchasing NTel VPN, IT decision makers will benefit from the automatic addition of NTel Ops which allows them to easily add more device management to the total IT services management scope at no extra cost. NTel VPN went live in January 2013 and has been officially available for service since June 2013.

Supporting Quote

"As part of the largest telecommunications company in the world, NTT America is committed to expanding the reach of ground-breaking automated expert systems available to NTel Ops customers and launching innovative services such as NTel VPN," said Michael DeVito, Executive Vice President, Global Solutions, NTT America. "By expanding the device range of NTel Ops, we are now capable of driving a fuller suite of efficiencies in IT departments of varying sizes and operations; and NTel VPN is a cost-effective network connectivity solution that looks and feels just like a higher-grade MPLS solution, but is Internet-driven to reduce costs."

     

Supporting Resources

NTT:

www.ntt.co.jp/index_e.html

NTT Communications:

www.ntt.com

NTT America:

www.us.ntt.com

NTT America's Managed Private Networks:

http://bit.ly/1b9A75p

NTT America's NTel VPN:

http://bit.ly/13Kn4lD

NTT America's NTel Ops:

http://bit.ly/1917UwW

NTT Communications Blog:

www.nttcom.tv/

Fortune Global 500 for 2013:

http://cnnmon.ie/12QXMRf

 

Editor's Note

NTT Communications welcomes press, analysts, bloggers and other interested parties to use and reference our content with proper attribution, for example "source: NTT Communications."

About NTT Communications

NTT Communications provides consultancy, architecture, security and cloud services to optimize the information and communications technology (ICT) environments of enterprises. These offerings are backed by the company's worldwide infrastructure, including leading global tier-1 IP network, Arcstar Universal One™ VPN network reaching over 160 countries/regions, and over 140 secure data centers. NTT Communications' solutions leverage the global resources of NTT Group companies including Dimension Data, NTT DOCOMO and NTT DATA.

www.ntt.com | Twitter@NTT Communications | Facebook@NTT Communications | LinkedIn@NTT Communications

For U.S. product and service information, please visit www.us.ntt.com

NTT, NTT Communications, and the NTT Communications logo are registered trademarks or trademarks of NIPPON TELEGRAPH AND TELEPHONE CORPORATION and/or its affiliates. All other referenced product names are trademarks of their respective owners. © 2013 NTT Communications

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NTT America Contact:
Christopher Davis
Senior Director, Corporate Marketing
+1-512-774-6218
c.davis@ntta.com
or
Media Contact:
Wireside Communications®
Christine Carlson
+1-804-612-5394
ccarlson@wireside.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article NTT America Expands Scope of NTel Ops, Launches NTel VPN originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Market Minute: SeaWorld Stock Set to Dive; Apple Shares Defy Gravity

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Apple is hot again, but SeaWorld does a belly-flop. Those stocks and more are what's making business news Wednesday.

The Dow Jones industrial average (^DJI) rose 31 points Tuesday, the Standard & Poor's 500 index (^GPSC) added 4, and the Nasdaq composite index (^IXIC) gained 14.

Apple (AAPL) shares jumped nearly 5 percent Tuesday, and the rally could continue today. Billionaire Carl Icahn has acquired a billion dollar plus stake in Apple, and he's calling on the company to make a large share buyback. He believes the stock could once again trade at $700 a share.

sea world earnings carl icahn apple undervalued stocks wall street market news
Jerod Harris/Getty Images
Investors in SeaWorld (SEAS) might feel as though they just got tossed in the tank with Shamu the killer whale. The theme park operator posted a quarterly loss, hurt by a drop in attendance, as well as expenses tied to its initial public offering back in April. SeaWorld shares are set to tumble.

Retailer Macy's (M) also reported disappointing quarterly results.

But farm equipment maker Deere (DE) is set to rally after plowing past expectations and raising its forecast for the full year.

Brocade Communications (BRCD), a networking equipment maker, is poised to soar after posting better-than-expected results.

Wendy's (WEN) has sold 30 restaurants in the St. Louis area, part of a broader plan to sell hundreds of its outlets across the country. The buyers of the St. Louis stores are former NBA player Junior Bridgeman and current player Chauncey Billups.

Coca-Cola (KO) is set to run newspaper ads defending the safety of aspartame and other low-and-no calorie sugar substitutes as part of healthy diet. According to Ad Age, Coke says the sweeteners used in diet sodas are "safe, high-quality alternatives to sugar."

Last month, online game maker Zynga appointed a new chairman -- former Microsoft (MSFT) executive Don Mattrick. He's wasting no time in shaking up the management team. Three top executives, including the chief operating officer, are leaving the company. Zynga's (ZNGA) stock has lost 70 percent of its value since going public in late 2011.

And Eli Lilly & Co. (LLY) says an experimental drug to treat patients with a form of lung cancer showed improved survival rates in a late-stage clinical trial.

-Produced by Drew Trachtenberg.

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Macy's, Inc. Reports Second Quarter Earnings of 72 Cents Per Diluted Share, an Increase of 7.5 Perce

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Macy's, Inc. Reports Second Quarter Earnings of 72 Cents Per Diluted Share, an Increase of 7.5 Percent

Company expects second half comparable sales to rise by 2.5 percent to 4 percent

CINCINNATI--(BUSINESS WIRE)-- Macy's, Inc. (NYS: M)  today reported earnings of 72 cents per diluted share for the second quarter of 2013, ended Aug. 3, 2013. This represents an increase of 7.5 percent in earnings per diluted share from 67 cents in the second quarter of 2012.


Macy's, Inc.'s diluted earnings per share in the first half of 2013 were $1.27, an increase of 16.5 percent compared with earnings per diluted share of $1.09 in the first half of 2012.

"We had planned our second quarter sales with a lower increase than the first quarter because of a shift in a major promotional event. Even so, second quarter sales performance was softer than anticipated, and we are disappointed with the results. Our performance in the period, in part, reflects consumers' continuing uncertainty about spending on discretionary items in the current economic environment. After a cool spring, we have taken appropriate markdowns and customers are responding favorably. Also on the positive side, we have seen a strengthening of the sales trend in key elements of women's ready-to-wear, a category which has lagged over the past couple of years. Bloomingdale's sales rebounded in the second quarter, and we are encouraged by our recent momentum," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer.

"Going into the third quarter, we also are encouraged by our early read on the back-to-school season. We accelerated receipts of fresh inventory at Macy's so we could be fully prepared for an early start to the academic year in certain regions of the country. As a result, we are capturing incremental sales opportunities in childrenswear, activewear and Impulse apparel (for the older Millennial customer). We also have intensified Macy's marketing support throughout the second half of the year to emphasize the fashion and value we deliver," Lundgren said. "We believe we have the right strategies in place at Macy's and Bloomingdale's, particularly in the omnichannel and online initiatives that are driving our business to a new level of shopping accessibility for our customer. Our My Macy's localization and Magic Selling customer engagement strategies continue to differentiate the Macy's shopping experience. We have dissected the fall calendar and related merchandise strategies for the second half, and we remain confident about our prospects for growth in the remainder of the year."

Sales

Sales in the second quarter totaled $6.066 billion, down 0.8 percent from total sales of $6.118 billion in the second quarter of 2012. On a comparable basis, Macy's, Inc.'s second quarter sales were down 0.8 percent in 2013 as compared to the second quarter of 2012.

For the year to date, Macy's, Inc. sales totaled $12.453 billion, up 1.6 percent from total sales of $12.261 billion in the first 26 weeks of 2012. On a comparable basis, Macy's, Inc.'s first half sales were up 1.5 percent in 2013 as compared to the first half of 2012.

Comparable sales include net sales from stores open at least one full fiscal year, as well as online sales at macys.com and bloomingdales.com.

In the second quarter, the company opened a new Macy's store in Gurnee, IL, and a Bloomingdale's Outlet store in Rosemont, IL. A Macy's store was closed in St. Louis, MO. In the second half of 2013, the company is opening a new Bloomingdale's store in Glendale, CA, and a new Macy's replacement store in Bay Shore, NY, as previously announced.

Operating Income

Macy's, Inc.'s operating income totaled $534 million or 8.8 percent of sales for the quarter ended Aug. 3, 2013, compared with operating income of $554 million or 9.1 percent of sales for the same period last year.

For the first half of 2013, Macy's, Inc.'s operating income totaled $969 million or 7.8 percent of sales, compared with operating income of $945 million or 7.7 percent of sales for the same period last year.

Cash Flow

Net cash provided by operating activities was $664 million in the first half of 2013, compared with $638 million in the first six months of last year. Net cash used by investing activities in the first half of 2013 was $316 million, compared with $393 million a year ago. Net cash used by financing activities in the first six months of 2013 was $760 million, compared with $1.468 billion in the first half of 2012. Cash used by financing activities in the first half of 2012 included the paydown of $797 million in debt.

The company repurchased approximately 9.2 million shares of its common stock for a total of approximately $446.7 million in the second quarter of 2013. In the fiscal year to date, the company repurchased approximately 17.5 million shares of its common stock for approximately $806.5 million. At Aug. 3, 2013, the company had remaining authorization to repurchase up to approximately $2.2 billion of its common stock.

Looking Ahead

The company expects comparable sales in the second half of 2013 to increase in the range of 2.5 percent to 4 percent. This would calculate to a full-year 2013 comparable sales increase of 2 percent to 2.9 percent, which compares to previous guidance for comparable sales to increase by approximately 3.5 percent. Earnings for fiscal 2013 are now expected in the range of $3.80 to $3.90 per diluted share. This compares with previous guidance for earnings per diluted share of $3.90 to $3.95.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2012 sales of $27.7 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates 13 Bloomingdale's Outlet stores. Bloomingdale's in Dubai is operated by Al Tayer Group LLC under a license agreement.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers' outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

# # #

(NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom.A webcast of Macy's, Inc.'s call with analysts and investors will be held today (Aug. 14) at 10:30 a.m. (ET). Macy's, Inc.'s webcast is accessible to the media and general public via the company's website at www.macysinc.com. Analysts and investors may call in on 1-888-211-7360, passcode 3433211. A replay of the conference call can be accessed on the website or by calling 1-888-203-1112 (same passcode) about two hours after the conclusion of the call.)

 
 

MACY'S, INC.

 

Consolidated Statements of Income (Unaudited) (Note 1)


 

(All amounts in millions except percentages and per share figures)

           
13 Weeks Ended 13 Weeks Ended
August 3, 2013 July 28, 2012

$

 

% to
Net sales

$

 

% to
Net sales

 
Net sales $ 6,066 $ 6,118
 
Cost of sales (Note 2)   3,533   58.2 %   3,555   58.1 %
 
Gross margin 2,533 41.8 % 2,563 41.9 %
 
Selling, general and administrative expenses   (1,999 ) (33.0 %)   (2,009 ) (32.8 %)
 
Operating income 534 8.8 % 554 9.1 %
 
Interest expense - net   (96 )   (105 )
 
Income before income taxes 438 449
 
Federal, state and local income tax expense (Note 3)   (157 )   (170 )
 
Net income $ 281   $ 279  
 
Basic earnings per share $ .73   $ .68  
 
Diluted earnings per share $ .72   $ .67  
 
Average common shares:
Basic 382.5 411.2
Diluted 389.3 417.1
 
End of period common shares outstanding 377.9 404.3
 
Depreciation and amortization expense $ 253 $ 257
 
   
 

MACY'S, INC.

 

Consolidated Statements of Income (Unaudited)

 
Notes:
 

(1)

Because of the seasonal nature of the retail business, the results of operations for the 13 weeks ended August 3, 2013 and July 28, 2012 (which do not include the Christmas season) are not necessarily indicative of such results for the fiscal year.

 

(2)

Merchandise inventories are valued at the lower of cost or market using the last-in, first-out (LIFO) retail inventory method. Application of the LIFO retail inventory method did not result in the recognition of any LIFO charges or credits affecting cost of sales for the 13 weeks ended August 3, 2013 or July 28, 2012.

 

(3)

Federal, state and local income taxes differ from the federal income tax statutory rate of 35%, principally because of the effect of state and local taxes, including the settlement of various tax issues and tax examinations.

 
           
 

MACY'S, INC.

 

Consolidated Statements of Income (Unaudited) (Note 1)


 

(All amounts in millions except percentages and per share figures)

 
26 Weeks Ended 26 Weeks Ended
August 3, 2013 July 28, 2012

$

 

% to
Net sales

$

 

% to
Net sales

 
Net sales $ 12,453 $ 12,261
 
Cost of sales (Note 2)   7,444   59.8 %   7,312   59.6 %
 
Gross margin 5,009 40.2 % 4,949 40.4 %
 
Selling, general and administrative expenses   (4,040 ) (32.4 %)   (4,004 ) (32.7 %)
 
Operating income 969 7.8 % 945 7.7 %
 
Interest expense - net   (193 )   (217 )
 
Income before income taxes 776 728
 
Federal, state and local income tax expense (Note 3)   (278 )   (268 )
 
Net income $ 498   $ 460  
 
Basic earnings per share $ 1.29   $ 1.11  
 
Diluted earnings per share $ 1.27   $ 1.09  
 
Average common shares:
Basic 385.3 414.1
Diluted 391.9 420.7
 
End of period common shares outstanding 377.9 404.3
 
Depreciation and amortization expense $ 504 $ 513
 
   
 

MACY'S, INC.

 

Consolidated Statements of Income (Unaudited)

 
Notes:
 

(1)

Because of the seasonal nature of the retail business, the results of operations for the 26 weeks ended August 3, 2013 and July 28, 2012 (which do not include the Christmas season) are not necessarily indicative of such results for the fiscal year.

 

(2)

Merchandise inventories are valued at the lower of cost or market using the last-in, first-out (LIFO) retail inventory method. Application of the LIFO retail inventory method did not result in the recognition of any LIFO charges or credits affecting cost of sales for the 26 weeks ended August 3, 2013 or July 28, 2012.

 

(3)

Federal, state and local income taxes differ from the federal income tax statutory rate of 35%, principally because of the effect of state and local taxes, including the settlement of various tax issues and tax examinations.

 

 

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MACY'S, INC.

 

Consolidated Balance Sheets (Unaudited)


 

(millions)

 
August 3, February 2, July 28,
2013 2013 2012
ASSETS:
Current Assets:
Cash and cash equivalents $ 1,424 $ 1,836 $ 1,604
Receivables 347 371 359
Merchandise inventories 5,357 5,308 5,036
Prepaid expenses and other current assets   387   361   387
Total Current Assets

Large Cloud Services Provider Chooses IceWEB Storage for Medical Records Infrastructure

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Large Cloud Services Provider Chooses IceWEB Storage for Medical Records Infrastructure

STERLING, Va.--(BUSINESS WIRE)-- IceWEB Storage Corporation - (OTC BB:IWEB),an award-winning Unified Data Storage appliance provider for cloud and virtual environments, as well as the highly secure, scalable IceBOXTM BYOD (Bring Your Own Device) Private Digital Cloud Solution, today announced that a large cloud services provider has purchased two IceSTORM Data Storage appliances to be deployed in Denver and Seattle.

The customer will utilize IceWEB's award winning asynchronous replication technology to replicate data between sites as a part of their disaster recovery strategy. The customer selected IceWEB after learning of our advanced feature set in a recent DCIG Private Cloud Storage Buyers' Guide. Of particular interest to them was our ability to create Zero Copy Clones from a previous snapshot to recover lost data as well as our ability to encrypt the data in transit.


"As we transition our business to the Cloud Services sector, this kind of validation for our products and capabilities is particularly telling. We have the right products that provide the right capabilities for Cloud Services of all types. In this usage case, the storage of critical patient records and medical imaging (PACS) as a part of a disaster recovery strategy, our customer found that our IceSTORM products are a perfect fit," said Rob Howe, IceWEB CEO.

For more information please call 800-465-4637 or visit www.iceweb.com. To become part of the Company's e-mail list for industry updates and press releases, please send an e-mail to ir@iceweb.com.

This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward-looking statements" by words such as "may" "will," "should", "expects", "plans", "targets", "believes", "anticipates", "estimates", "predicts", "potential", or "continue", or the negative of those words and other comparable words. These forward-looking statements are subject to certain risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934, as amended, or other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.

anImage


For IceWEB Storage Corporation:
Cynthia DeMonte, 917-273-1717
ir@iceweb.com

KEYWORDS:   United States  North America  Virginia

INDUSTRY KEYWORDS:

The article Large Cloud Services Provider Chooses IceWEB Storage for Medical Records Infrastructure originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Hampshire Reports Second Quarter 2013 Results

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Hampshire Reports Second Quarter 2013 Results


NEW YORK--(BUSINESS WIRE)-- Hampshire Group, Limited (OTC Markets: HAMP) today announced its results for the second quarter ended June 29, 2013.

Net sales for the 2013 second quarter were $26.1 million compared to $17.6 million in the second quarter of 2012. Income from continuing operations before income taxes was $2.9 million compared to a loss of $2.8 million for the prior year. Included in these results was a one-time non-cash gain of approximately $6.1 million resulting from the reversal of an accrual in connection with a favorable ruling in the Company's lease litigation. Without this one-time gain, the Company would have reported a net loss from continuing operations of approximately $3.1 million for the quarter. The Company reported income per share from continuing operations of $0.37 for the 2013 second quarter compared to a loss of $0.39 for the same period last year.

Net sales increased $8.5 million or 48.2% over the second quarter of 2012. The increase in net sales was driven by significant volume increases at Hampshire Brands with new licensing arrangements with Dockers® and Panama Jack® which more than offset sales from brands that were discontinued at the end of 2012. Sales at the Company's Rio Garment division increased slightly over the comparable period last year.

Gross profit for the quarter was $5.3 million versus $4.1 million a year ago. The gross margin for the quarter was 20.4% compared with 23.5% reported in the same quarter last year. The decline in gross margin was primarily due to a higher mix of Hampshire Brands licensed products which had a lower gross profit percentage.

Selling, general and administrative expenses for the second quarter were $8.5 million or 32.4% of net sales vs. $6.9 million or 39.1% of net sales in last year's quarter. The increase in SG&A was primarily due to a $0.5 million lease charge related to the New York office and higher freight and warehouse charges resulting from higher sales this year as compared with the prior year.

For the second quarter, the Company's earnings before interest, taxes, depreciation and amortization, referred to as EBITDA, was $2.2 million compared to negative $2.7 million for the same period last year. Adjusted EBITDA, which excludes contract terminations, restructuring and stock based compensation charges, was $2.6 million compared to negative $2.3 million for the comparable year-ago period. (See the Non GAAP Reconciliation table in the Selected Financial Data section of this press release.) Excluding the one-time non-cash gain from the favorable ruling in the Company's lease litigation, EBITDA for the second quarter would have been negative $3.9 million.

The Company ended the period with $2.5 million in cash and cash equivalents compared to $12.5 million at December 31, 2012. The decline was a result of higher inventory and receivables. The Company's working capital was $20.9 million at June 30, 2013 compared with $22.8 million at December 31, 2012.

"The second quarter results remain poor and do not reflect the anticipated long term prospects of this business," said Paul Buxbaum, CEO of Hampshire Group. "Given the long lead time in the apparel business, the Company's 2013 purchase requirements are contracted well in advance, and the new management team and I are unable to materially enhance operating results based on the state of the business when we joined in 2013. We continue to rebuild the Company with better margins and a lower cost structure, the results of which we expect will be seen in the 2014 and beyond operating results."

Second Quarter Corporate Highlights

  • On June 7, 2013, the Company sold the Scott James clothing brand and line, including trademarks and domain names relating to this business, as well as all retail inventory and other tangible property located in the two store locations to entities controlled by Scott Kuhlman, founder of the brand. The Company was granted a license to use the "sj by Scott James" trademark in certain defined channels. In connection with the transaction, the Company recorded a loss of approximately $0.7 million.
  • On June 10, 2013, the Civil Court of the City of New York ruled that Hampshire Group was entitled to rent abatement in addition to legal fees and expenses for their defense in litigation related to the Company's corporate office space. Although the plaintiff has reserved the right to appeal the decision, the Company believes that the judgment will be upheld and accordingly, the Company reversed approximately $6.1 million of the $6.3 million that had been accrued. The funds related to the legal fees and expenses have not been reversed as a separate hearing will be scheduled to determine the amount of the reimbursable legal fees.
  • In July 2013, Hampshire's Board of Directors, in consultation with management and the Company's professional advisors, completed an examination of past trading and corporate actions that can affect the Company's net operating loss carryforwards. As a result of this examination, the Board of Directors has determined that on March 7, 2013, the Company underwent an ownership change as defined by Section 382 of the Internal Revenue Code. As a result, the Company will be significantly limited in its future use of federal net operating loss carryforwards generated prior to March 7, 2013 pursuant to the provisions of Section 382 and related sections of the Internal Revenue Code. The Company expects similar limitations will apply under state laws to state net operating loss carryforwards. Full details will be released before year end.

Mr. Buxbaum continued "In the second quarter, the Company had mixed long-term value events. On the positive side, we exited the Scott James business to allow management to refocus on our core business, and we received a favorable ruling in our long-standing real estate court case. On the negative side, we discovered that as a result of past trading and corporate actions that affected the Company's net operating loss carryforwards, the Company will be significantly limited in its future use of federal net operating loss carryforwards generated prior to March 7, 2013."

Mr. Buxbaum concluded, "The remainder of 2013 will continue to be a transition year for Hampshire Group's operating performance as we realign our operations to better serve our long term objectives. We are restructuring almost every aspect of how the Company operates and we expect to see the results of these processes in 2014."

Hampshire Group, Limited (www.hamp.com), along with its wholly-owned subsidiaries, Hampshire Brands, Inc. and Rio Garment S.A. is a provider of fashion apparel across a broad range of product categories, channels of distribution and price points. The Company specializes in designing and marketing men's sportswear to department stores, chain stores and mass market retailers under licensed brands, our own proprietary brands and the private labels of our customers. The Company operates a Honduras-based apparel manufacturer, designing, sourcing and manufacturing knit tops for men, women and children.

Cautionary Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect the Company's current views with respect to future events. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. Readers are urged to review and consider carefully the various disclosures made by the Company in its Form 10-K and other Securities and Exchange Commission filings, which advise interested parties of certain factors that affect the Company's business. Risks and uncertainties that could cause actual results to differ materially from those anticipated in our forward looking statements include, but are not limited to, the following: A prolonged period of depressed consumer spending; use of foreign suppliers for raw materials and manufacture of our products including a manufacturing facility based in Honduras; lack of an established public trading market for our common stock; decreases in business from or the loss of any one of our key customers; financial instability experienced by our customers; chargebacks and margin support payments; loss of or inability to renew certain licenses; change in consumer preferences and fashion trends, which could negatively affect acceptance of our products by retailers and consumers; failure of our manufacturers to use acceptable ethical business practices; failure to deliver quality products in a timely manner; problems with our distribution system and our ability to deliver products; labor disruptions at ports, our suppliers, manufacturers or distribution facilities; failure, inadequacy, interruption or security lapse of our information technology; failure to compete successfully in a highly competitive and fragmented industry; challenges integrating any business we have acquired or may acquire; potential impairment of acquired intangible assets; unanticipated expenses beyond the amount reserved on our balance sheet or unanticipated cash payments related to the ultimate resolution of income and other possible tax liabilities; significant adverse changes to international trade regulations; loss of certain key personnel which could negatively impact our ability to manage our business; our stockholders' rights plan potentially adversely affecting existing stockholders; risks related to the global economic, political and social conditions; fluctuation in the price of raw materials adversely affecting our results of operations; energy and fuel costs are subject to adverse fluctuations and volatility; potential restrictions in our ability to borrow under our revolving credit facility; and our ability to structure our current or future credit facility to maximize our borrowing capacity.

       
Hampshire Group, Limited and Subsidiaries
 
Selected Unaudited Financial Data
 

 

 

Three Months Ended

Six Months Ended

(In thousands, except per share data) June 29, 2013   June 30, 2012 June 29, 2013   June 30, 2012
       
Net sales $ 26,136 $ 17,639 $ 45,050 $ 39,610
Cost of goods sold   20,796   13,493   36,340   31,680
 
Gross profit 5,340 4,146 8,710 7,930
Selling, general and administrative expenses 8,474 6,902 15,996 14,489
Lease litigation settlement   (6,113

)

 

 

(6,113

)

 
 
Income (loss) from operations 2,979

(2,756

)

(1,173 ) (6,559 )
Other income (expense):
Interest income 1 1

1

Interest expense (84 ) (92 ) (179 ) (163 )
Other, net   16   4   54   21
 
Income (loss) from continuing operations before income taxes 2,911 (2,843 ) (1,297 ) (6,700 )
 
Income tax provision   122   46   264   92
 
Income (loss) from continuing operations 2,789 (2,889 ) (1,561 ) (6,792 )
Loss from discontinued operations, net of taxes   (1,655 )   (877 )   (2,687 )   (1,928 )
 
Net income (loss) $ 1,134 $ (3,766 ) $ (4,248 ) $ (8,720 )

 

Basic income (loss) per share:
Income (loss) from continuing operations $ 0.37 $ (0.39 ) $ (0.21 ) $ (0.97 )
Loss from discontinued operations, net of taxes   (0.22 )   (0.12 )   (0.36 )   (0.27 )
 
Net income (loss) $ 0.15 $ (0.51 ) $ (0.57 ) $ (1.24 )
 
Diluted income (loss) per share:
Income (loss) from continuing operations $ 0.37 $ (0.39 ) $ (0.21 ) $ (0.97 )
Loss from discontinued operations, net of taxes   (0.22 )   (0.12 )   (0.36 )   (0.27 )
 
Net income (loss) $ 0.15 $ (0.51 ) $ (0.57 ) $ (1.24 )
 
Weighted average number of shares outstanding:
Basic weighted average number of common shares outstanding   7,474   7,434   7,476   7,056
 
Diluted weighted average number of common shares outstanding   7,580   7,434   7,476   7,056
 
                             
NON GAAP RECONCILIATION:            
Net income (loss) $ 1,134 $ (3,766 ) $ (4,248 ) $ (8,720

)

Income tax provision 122 46 264 92
Interest expense, net 84 91 178 162

 

Depreciation and amortization   826   946   1,737   1,872  
 
EBITDA 2,166

(2,683

)

(2,069 ) (6,594 )
Contract terminations 268 568

 

Restructuring costs 153 117 895 173
Stock based compensation  

(27

)

  224   (227

)

  368
 
Adjusted EBITDA $ 2,560 $ (2,342 ) $ (833 ) $ (6,053 )
 
The Company believes that supplementing its financial statements prepared according to generally accepted accounting principles in the United States ("GAAP) with certain non-GAAP financial measures, as defined by the Securities and Exchange Commission ("SEC"), provides a more comprehensive understanding of Company's results of operations. Such measures include EBITDA and Adjusted EBITDA and should not be considered an alternative to comparable GAAP financial measures, but should rather be read in conjunction with the GAAP financial measures. Readers are urged to review and consider carefully the various disclosures made by the Company in its Form 10-K for the year ended December 31, 2012 and its Form 10-Q for the quarter ended June 29, 2013 and other SEC filings, which advise interested parties of certain factors that affect the Company's business.
         
SELECTED BALANCE SHEET DATA:      
 
(excluding discontinued operations)

June 29,
2013

 

December 31,
2012

 
Cash and cash equivalents $ 2,546 $ 12,500
Restricted cash $ $

Accounts receivable, net $ 11,452 $ 8,124
Inventories, net $ 24,256 $ 20,174
Borrowings under credit facility $ $
Working capital       $ 20,865   $ 22,761

anImage


Investors:
MBS Value Partners
212-750-5800

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article Hampshire Reports Second Quarter 2013 Results originally appeared on Fool.com.

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Ligand Enters Global License Agreement with CURx Pharmaceuticals, Inc. for Captisol-EnabledTM Topira

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Ligand Enters Global License Agreement with CURx Pharmaceuticals, Inc. for Captisol-Enabled TM Topiramate Injection

SAN DIEGO--(BUSINESS WIRE)-- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) announces it has entered a global license agreement with CURx Pharmaceuticals, Inc. for the development and commercialization of Ligand's Captisol-enabled™ Topiramate Injection for the treatment of partial onset or primary generalized tonic-clonic seizures in hospitalized epilepsy patients who are unable to take oral topiramate. Under the terms of the agreement, Ligand will be eligible to receive more than $21 million in potential net milestone payments and net royalties on future sales of 6.0% to 7.5%.

"This is another great deal for Ligand and our Captisol technology, pairing our proven formulation agent with an approved medicine to create a potentially novel, important and highly differentiated drug," commented John Higgins, President and Chief Executive Officer of Ligand. "We are very pleased to be entering this agreement. CURx is highly motivated to advance development with current plans calling for a Phase II trial to commence in 2014. This deal represents our latest addition to our growing pipeline of partnerships and another potentially lucrative shot-on-goal."


Dinu Sen, Chief Executive Officer and founder of CURx, said of this transaction, "We are delighted to sign a licensing agreement with Ligand and plan to bring Captisol-enabled Topiramate Injection to our patients as soon as possible. In Phase I trials in healthy volunteers and patients at the University of Minnesota, the product demonstrated a faster onset of action than the orally administered drug. Our market research indicates there to be a tremendous need for a product with these characteristics."

About Captisol-Enabled™ Topiramate Injection

The Captisol-enabled formulation of Topiramate Injection was designed for the treatment of partial onset or primary generalized tonic-clonic seizures in hospitalized epilepsy patients who are unable to take oral topiramate. The formulation was initially developed at, and is exclusively licensed from, the University of Minnesota. Topiramate is sold by Janssen Pharmaceuticals, Inc. under the trade name Topamax® and is currently only available in oral formulations. The Captisol-enabled Topiramate Injection formulation is designed to provide an intravenous or intramuscular option for hospitalized epilepsy patients unable to use oral topiramate. Captisol-enabled Topiramate Injection has been studied in Phase I clinical trials. In July 2013, the U.S. Food and Drug Administration (FDA) granted orphan-drug designation to Captisol-enabled Topiramate Injection.

About Captisol ®

Captisol is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Captisol was invented and initially developed by scientists in the laboratories of Dr. Valentino Stella at the University of Kansas' Higuchi Biosciences Center for specific use in drug development and formulation. This unique technology has enabled six FDA-approved products, including Onyx Pharmaceuticals' Kyprolis®, Baxter International's Nexterone® and Pfizer's Vfend® IV. There are currently more than 30 Captisol-enabled products in development, including Lundbeck's carbamazepine IV, Spectrum Pharmaceuticals' Captisol-enabled Melphalan and Rib-X's delafloxacin IV program.

About CURx Pharmaceuticals, Inc.

CURx Pharmaceuticals, Inc. is a startup pharmaceutical company based in San Diego, CA focused in the hospital marketplace. It was founded by Dinu Sen, who has three decades of experience in the pharmaceutical industry. Most recently, Mr. Sen was CEO of Avera Pharmaceuticals which raised $90 million in venture financing and was eventually sold to Maruishi Pharmaceuticals of Osaka, Japan.

About Ligand Pharmaceuticals

Ligand is a biopharmaceutical company that develops and acquires assets it believes will generate royalty revenues and, under its lean corporate cost structure, produce sustainable profitability. Ligand has a diverse asset portfolio addressing the unmet medical needs of patients for a broad spectrum of diseases including thrombocytopenia, multiple myeloma, diabetes, hepatitis, muscle wasting, dyslipidemia, anemia and osteoporosis. Ligand's Captisol platform technology is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand has established multiple alliances with the world's leading pharmaceutical companies including GlaxoSmithKline, Onyx Pharmaceuticals, Merck, Pfizer, Baxter International, Bristol-Myers Squibb, Lundbeck Inc., Eli Lilly & Co. and Spectrum Pharmaceuticals. Please visit www.captisol.com for more information on Captisol and www.ligand.com for more information on Ligand.

Follow Ligand on Twitter @Ligand_LGND.

Forward-Looking Statements

This news release contains forward-looking statements by Ligand that involve risks and uncertainties and reflect Ligand's judgment as of the date of this release. These include statements regarding clinical development of Captisol-enabled Topiramate Injection, market size and possibility of commercial success, efficacy, potency, competitiveness and the strength of Ligand's product portfolio. Actual events or results may differ from our expectations. For example, there can be no assurance that Captisol-enabled Topiramate Injection will progress through clinical development or receive required regulatory approvals within the expected timelines or at all, that further clinical trials will confirm any safety or other characteristics or profile, that there will be a market of any size for Captisol-enabled Topiramate Injection or that Captisol-enabled Topiramate Injection will be beneficial to patients or successfully marketed. The failure to meet expectations with respect to any of the foregoing matters may have a negative effect on Ligand's stock price. Additional information concerning these and other risk factors affecting Ligand's business can be found in prior press releases available via www.ligand.com as well as in Ligand's public periodic filings with the Securities and Exchange Commission at www.sec.gov. Ligand disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

anImage


Ligand Pharmaceuticals Incorporated
John Higgins, President and CEO
Jennifer Capuzelo, Investor Relations
jcapuzelo@ligand.com
(858) 550-7584
or
LHA
Don Markley
dmarkley@lhai.com
(310) 691-7100

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Ligand Enters Global License Agreement with CURx Pharmaceuticals, Inc. for Captisol-EnabledTM Topiramate Injection originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Grading the Nation's Classrooms: Teachers Speak Out in New Survey

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Grading the Nation's Classrooms: Teachers Speak Out in New Survey

New Study from Bounty Paper Towels and Puffs Facial Tissues Finds 90% of Teachers Wouldn't Give Their Students an "A" for Cleanliness

CINCINNATI--(BUSINESS WIRE)-- A recent survey of the nation's teachers by Bounty Paper Towels and Puffs Facial Tissues revealed that one of the secrets to creating an ideal classroom rests in cleaning up all messes, from spills to runny noses. In partnership with Wakefield Research, the paper towel and tissue brands uncovered that 85 percent of surveyed teachers believe it takes less than an hour for their students to make a mess of their classroom - and keeping up with the mess is directly affecting their curriculum. With back to school season just around the corner, Bounty and Puffs -brands trusted by teachers - set out to uncover the dirt on our nation's classrooms.

Bounty and Puffs reveal the messes and germs lurking behind in an elementary school classroom after ...

Bounty and Puffs reveal the messes and germs lurking behind in an elementary school classroom after just one hour without paper towels and tissues! (Photo: Gary He)


A clean and healthy learning environment is an essential factor in the success of a school year. But, keeping a mess-free classroom can be costly. The majority (66%) of grade school teachers surveyed report they have avoided in-class projects or activities because of the mess they make - and not just once.

As part of their ongoing mission to help create learning environments that foster creativity, Bounty and Puffs are letting parents know how they can help keep their kid's classroom free from messes. By providing educators with products they trust, parents can ensure teachers are armed with the right tools to protect their classroom against every sneeze, glue spill and grimy mess. Here are other facts and figures for parents to keep in mind as they begin to stock up for back to school.

  • By the Numbers: On average, K-6 teachers go through 37 boxes of tissues each school year - about a box a week - and 24 rolls of paper towels during the school year.
  • Back to School, Back to Sickness: 56% of K-6 teachers feel back-to-school season is the most dangerous time of year for their own immune systems. With the strength and softness of Puffs Ultra Soft & Strong, teachers can help protect themselves - and their classroom - from cold and flu germs one sneeze at a time.
  • Time-out for Cleanliness: A majority of K-6 teachers (89%) feel cleaning their classroom competes with other classroom activities. With Bounty's "trap and lock technology," teachers can rest assured knowing that one sheet is absorbent enough to tackle big spills and allow them to spend less time stressing over classroom messes.
  • Shelling it Out for School Supplies: 48% of K-6 teachers anticipate spending more of their own money for school supplies in 2013-2014 than they did last year.

"With a new school year approaching, it's important for parents to know how they can help their local school, teacher or administrator keep the classroom clean and primed for learning," said Victoria Schooler, Communications Specialist for Bounty Paper Towels and Puffs Facial Tissues. "With Bounty and Puffs, we're giving teachers the tools to create a clean and healthy classroom that can truly foster creativity."

To help ease the burden on teachers and enrich their classroom environment, Bounty and Puffs launched the Back to School Sweepstakes on their Facebook pages last month. Through the sweepstakes, fans can enter to win a year's supply of Bounty and Puffs for themselves and the school of their choice.

For information on Bounty and Puffs, or to enter the Back to School Sweepstakes visit www.Facebook.com/Bounty or www.Facebook.com/Puffs.

The Bounty & Puffs Teacher Survey was conducted by Wakefield Research between June 21 ST , 2013 and June 28 th , 2013. For this research, 1,001 telephone interviews were fielded among American elementary school teachers.

About Procter & Gamble

P&G serves approximately 4.8 billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands, including Ace®, Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Duracell®, Fairy®, Febreze®, Fusion®, Gain®, Gillette®, Head & Shoulders®, Iams®, Lenor®, Mach3®, Olay®, Oral-B®, Pampers®, Pantene®, Prestobarba®, SK-II®, Tide®, Vicks®, Wella®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.

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Procter & Gamble
Victoria Schooler, +1-513-983-7828
schooler.v@pg.com
or
MSL Group
Colleen McCarthy, +1-646-500-7931
colleen.mccarthy@mslgroup.com

KEYWORDS:   United States  North America  Ohio

INDUSTRY KEYWORDS:

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Durham Catholic District School Board Deploys Enterprise-Class Wireless LAN From Aruba Networks to E

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Durham Catholic District School Board Deploys Enterprise-Class Wireless LAN From Aruba Networks to Enable 21 st Century Education Initiatives

Combination of Aruba Instant and Controller-based APs Enables Board to Meet Varying Wireless Needs

SUNNYVALE, Calif.--(BUSINESS WIRE)-- Aruba Networks, Inc. (NAS: ARUN) , a leading provider of next-generation network access solutions for the mobile enterprise, today announced that the Durham Catholic District School Board (DCDSB), a publicly funded Catholic school board located in Ontario, Canada, is upgrading its wireless LAN (WLAN) with an enterprise-class solution from Aruba. Designed to support DCDSB's 21st Century education initiative, the new WLAN will include a combination of Aruba Instant controller-less access points (APs) and controller-based APs, as well as remote APs (RAPs), enabling the School Board to meet the various wireless needs in each of its facilities.


DCDSB, which serves over 22,000 students and 2,000 faculty and staff among approximately 50 schools and district offices, is committed to providing a 21st Century education experience. That experience includes leveraging the latest advances in interactive mobile technology to improve teaching techniques and help prepare students for the types of technologies they'll be using post-graduation in their continued education and careers.

Currently, about 80% of DCDSB's classrooms utilize some level of mobile, interactive technology including laptops, Macbooks, iPads, smartphones, iPods and iPod Touches, and e-readers. Additionally, the Board has deployed 400 interactive video projectors (IVPs) in about 50% of its classrooms over the last eight months, mounting an Apple TV with each IVP and providing the teachers in each of those classrooms with an iPad. The teachers can now broadcast interactive classroom materials and information from the iPad, to the IVP, to the Apple TV. DCDSB plans to deploy that same technology model in each of its classrooms.

To support this new interactive classroom model, the Board needed a robust, enterprise-class WLAN solution that offered appropriate options for secondary schools, where the District needs to support a high density of mobile devices, and elementary schools, where density isn't as high and simple deployment and set-up is important. After a thorough evaluation of options from other WLAN vendors, DCDSB selected Aruba and is working with Access2Networks from Toronto to deploy the solution. The Board's new Aruba WLAN will include over 700 APs district-wide when complete, with controller-based APs deployed in the secondary schools to support their high density environments, and Aruba Instant controller-less APs installed in the elementary schools to facilitate quick and easy implementation.

"Our IT staff is lean, so it was very important that our new wireless LAN be able to meet the varying needs of the schools in our district, as well as offer simple, cost-effective deployment," said Ronald R. Rodriguez, Chief Information Officer for the Durham Catholic District School Board. "Aruba delivers all of this. The Aruba interface is intuitive, and our network is now self-configurable and can be managed from a central location. Best of all, we can have both a traditional, controller-based solution in the schools where we need it, and the Aruba Instant controller-less APs for quick installation in our elementary schools, without sacrificing any crucial enterprise-class features."

"Aruba is the only WLAN vendor to offer both controller-less and controller-based deployments on a single architecture," said Sylvia Hooks, Director, Product Marketing for Aruba. "This allows school districts like DCDSB to not only mix and match between the two architectures based on their initial needs, but to also alter their deployment as their requirements change over time. With Aruba, school districts can keep 100 percent of their initial investment since switching from controller-less to controller-based APs doesn't require any hardware changes."

DCDSB's new WLAN will also include the Aruba AirWave Network Management System and Aruba RAPs for staff who work off-site. The Aruba RAPs will enable Board personnel to connect to the network and access District resources from remote locations, just as if they were sitting in their office.

"When we started looking for our new wireless LAN solution, we knew we had to invest for the long-term," continued Rodriguez. "We have a responsibility to the taxpayers that support the Durham Catholic District School Board to find and deploy cost-effective technologies that support our current educational objectives and processes, and are robust enough to carry us into the future. Our Aruba wireless infrastructure should allow us to continue deploying innovative technologies in our classrooms, providing our K-12 students with an exceptional educational experience."

About the Durham Catholic District School Board

The Durham Catholic District School Board shares a sense of community among families, educators and parishes and is committed to integrating the teachings of the Gospel with quality educational programs that guide students in their journeys to meeting the Catholic Graduate Expectations.

The Board currently serves approximately 22,690 students in Oshawa, Whitby, Ajax, Pickering, Uxbridge, Port Perry and Beaverton across 40 elementary schools, eight secondary schools and eight alternative and continuing education sites.

About Aruba Networks, Inc.

Aruba Networks is a leading provider of next-generation network access solutions for the mobile enterprise. The company's Mobile Virtual Enterprise (MOVE) architecture unifies wired and wireless network infrastructures into one seamless access solution for corporate headquarters, mobile business professionals, remote workers and guests. This unified approach to access networks enables IT organizations and users to securely address the Bring Your Own Device (BYOD) phenomenon, dramatically improving productivity and lowering capital and operational costs.

Listed on the NASDAQ and Russell 2000® Index, Aruba is based in Sunnyvale, California, and has operations throughout the Americas, Europe, Middle East, Africa and Asia Pacific regions. To learn more, visit Aruba at http://www.arubanetworks.com. For real-time news updates follow Aruba on Twitter and Facebook, and for the latest technical discussions on mobility and Aruba products visit Airheads Social at http://community.arubanetworks.com.

© 2013 Aruba Networks, Inc. Aruba Networks' trademarks include the design mark for AirWave, Aruba Networks ® , Aruba Wireless Networks ® , the registered Aruba the Mobile Edge Company logo, the registered AirWave logo, Aruba Mobility Management System ® , Mobile Edge Architecture ® , People Move. Networks Must Follow ® , RFProtect ® , Green Island ® . All rights reserved. All other trademarks are the property of their respective owners.

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Aruba Networks, Inc.
Ben Gibson,+1-408-419-4267
Chief Marketing Officer
bgibson@arubanetworks.com
or
LSH Communications for Aruba Networks
Lori Hultin,+1-818-879-4651
Principal
lhultin@arubanetworks.com

KEYWORDS:   United States  North America  Canada  California

INDUSTRY KEYWORDS:

The article Durham Catholic District School Board Deploys Enterprise-Class Wireless LAN From Aruba Networks to Enable 21st Century Education Initiatives originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Skyworks Powers MediaTek's Latest Generation Dual-core Smartphone Platforms

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Skyworks Powers MediaTek's Latest Generation Dual-core Smartphone Platforms

Capitalizing on Exploding Growth

WOBURN, Mass.--(BUSINESS WIRE)-- Skyworks Solutions, Inc. (NAS: SWKS) , an innovator of high performance analog semiconductors enabling a broad range of end markets announced that MediaTek is leveraging several of Skyworks' front-end solutions in their innovative, dual-core MT6572 platform which is supporting multiple leading tier-one smartphone manufacturers in emerging markets. MediaTek, a leading fabless semiconductor company for wireless communications and digital multimedia solutions, has revolutionized the manufacture of mobile phones by supplying complete chipset solutions that couples their own baseband processor, radio, software, multimedia and connectivity product offerings, with industry-leading front-end solutions to offer a turnkey approach to manufacturers who supply handsets to consumers around the world.


The MT6572 is the world's first dual-core, system-on-a-chip platform with high-speed-packet-access, integrated WiFi, FM, GPS and Bluetooth® functionality delivered in a cost-effective, four-layer printed circuit board. This system-level design reduces bill-of-material costs, simplifies the product development cycle and enhances time to market - all key drivers in the fast moving mobile market.

"MediaTek is excited to be extending its collaboration with Skyworks Solutions," said Jeffrey Ju, general manager of the MediaTek's smartphone business. "Skyworks is a proven innovator and their leading-edge, best-in-class solutions make them the ideal partner as we look to deliver next-generation smartphones with features and performance associated exclusively with high-end platforms."

"As the transition to smartphones in the emerging markets continues to accelerate, Skyworks is pleased to be working with MediaTek, a leader in system-on-chip cellular platforms," said Bradley C. Byk, senior vice president of worldwide sales at Skyworks. "As the solutions provider of choice, Skyworks looks forward to capitalizing on the exploding smartphone growth in emerging markets."

Industry analysts expect future smartphone growth to come from emerging markets where consumers are upgrading from feature phones to entry-level platforms. According to IDC, 1.7 billion smart connected devices (tablets, smartphones and PCs) will be shipped worldwide in 2014. Of those 1.7 billion units, 1.0 billion will be delivered to emerging markets, with smartphones and tablets comprising more than the majority of units. Specifically, IDC estimates emerging markets will see a compound annual growth rate of 17 percent from 2012 - 2017 for connected devices.

About the MT6572

Leveraging the breakthrough technology and market momentum of the flagship MT6589 quad-core HSPA+ platform, the new MT6572 integrates a power-efficient, dual-core Cortex™-A7 central processing unit sub-system with speeds up to 1.2 gigahertz in 28 nanometers. The new platform also integrates MediaTek's advanced, multimode Rel. 8 HSPA+/TD-SCDMA modem, 3G graphics, support up to HD 720p video playback and record, 5 megapixel camera and up to qHD displays. Supporting the leading picture quality technologies inherited from MediaTek's extensive experience in the digital television market, the MT6572 delivers an innovative solution that offers the finest visual quality and outstanding user experience for high-end smartphone consumers.

About Skyworks' Front-end Solutions

The fully matched, 14-pad SKY77758 power amplifier (PA) module packs full coverage for Bands I, II, V, VIII into a single, compact 3.0 x 4.2 x 0.9 millimeter (mm) package. The small and efficient surface mount module meets stringent spectral linearity requirements for WCDMA, HSDPA, HSUPA, HSPA+ transmission with high power-added efficiency. A directional coupler integrated into the module eliminates the need for any external coupler. The single gallium arsenide, microwave monolithic integrated circuit (MMIC) contains all active circuitry in the module. The MMIC contains on-board bias circuitry, as well as input and interstage matching circuits. Output match into a 50-ohm load is realized off-chip within the module package to optimize efficiency and power performance.

The SKY77590-11, SKY77590-21, SKY77590-51, SKY77590-61, SKY77593, SKY77594, SKY77595 and SKY77596 are transmit (Tx)/receive front-end modules designed in a very low profile (0.9 mm) and 6 x 6 mm compact form factor for quad-band cellular handsets comprising GSM850/900, DCS1800 and PCS 1900 operation. The complete transmit VCO-to-antenna and antenna-to-receive, surface acoustic wave filter modules consist of Tx harmonic filtering, a high linearity/low insertion loss switch, and a complementary metal-oxide semiconductor, PA control block. A custom Silicon integrated circuit contains decoder circuitry to control the RF switch while providing a low current, external control interface.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high performance analog semiconductors. Leveraging core technologies, Skyworks supports automotive, broadband, cellular infrastructure, energy management, GPS, industrial, medical, military, wireless networking, smartphone and tablet applications. The Company's portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure RF subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners, power management devices, receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering, manufacturing, sales and service facilities throughout Asia, Europe and North America. For more information, please visit Skyworks' Web site at: www.skyworksinc.com.

Safe Harbor Statement

This news release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation information relating to future results and expectations of Skyworks (e.g., certain projections and business trends). Forward-looking statements can often be identified by words such as "anticipates," "expects," "forecasts," "intends," "believes," "plans," "may," "will," or "continue," and similar expressions and variations or negatives of these words. All such statements are subject to certain risks, uncertainties and other important factors that could cause actual results to differ materially and adversely from those projected, and may affect our future operating results, financial position and cash flows.

These risks, uncertainties and other important factors include, but are not limited to: uncertainty regarding global economic and financial market conditions; the susceptibility of the semiconductor industry and the markets addressed by our, and our customers', products to economic downturns; the timing, rescheduling or cancellation of significant customer orders and our ability, as well as the ability of our customers, to manage inventory; losses or curtailments of purchases or payments from key customers, or the timing of customer inventory adjustments; the availability and pricing of third party semiconductor foundry, assembly and test capacity, raw materials and supplier components; changes in laws, regulations and/or policies that could adversely affect either (i) the economy and our customers' demand for our products or (ii) the financial markets and our ability to raise capital; our ability to develop, manufacture and market innovative products in a highly price competitive and rapidly changing technological environment; economic, social, military and geo-political conditions in the countries in which we, our customers or our suppliers operate, including security and health risks, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates; fluctuations in our manufacturing yields due to our complex and specialized manufacturing processes; delays or disruptions in production due to equipment maintenance, repairs and/or upgrades; our reliance on several key customers for a large percentage of our sales; fluctuations in the manufacturing yields of our third party semiconductor foundries and other problems or delays in the fabrication, assembly, testing or delivery of our products; our ability to timely and accurately predict market requirements and evolving industry standards, and to identify opportunities in new markets; uncertainties of litigation, including potential disputes over intellectual property infringement and rights, as well as payments related to the licensing and/or sale of such rights; our ability to rapidly develop new products and avoid product obsolescence; our ability to retain, recruit and hire key executives, technical personnel and other employees in the positions and numbers, with the experience and capabilities, and at the compensation levels needed to implement our business and product plans; lengthy product development cycles that impact the timing of new product introductions; unfavorable changes in product mix; the quality of our products and any remediation costs; shorter than expected product life cycles; problems or delays that we may face in shifting our products to smaller geometry process technologies and in achieving higher levels of design integration; and our ability to continue to grow and maintain an intellectual property portfolio and obtain needed licenses from third parties, as well as other risks and uncertainties, including, but not limited to, those detailed from time to time in our filings with the Securities and Exchange Commission.

The forward-looking statements contained in this news release are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Note to Editors: Skyworks and Skyworks Solutions are trademarks or registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in the United States and in other countries. All other brands and names listed are trademarks of their respective companies.

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Skyworks Media Relations:
Pilar Barrigas, 949-231-3061
or
Skyworks Investor Relations:
Stephen Ferranti, 781-376-3056

KEYWORDS:   United States  North America  Massachusetts

INDUSTRY KEYWORDS:

The article Skyworks Powers MediaTek's Latest Generation Dual-core Smartphone Platforms originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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ForeverGreen Worldwide Announces Q2 2013 Results

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ForeverGreen Worldwide Announces Q2 2013 Results

- Revenues Grow 28.4%

OREM, Utah--(BUSINESS WIRE)-- ForeverGreen Worldwide Corporation (OTCBB:FVRG), a leading provider of nutritional foods and other healthy products, today announced Q2 2013 earnings, for the quarter ended June 30, 2013.


Highlights included:

  • Sales increased to $4,007,611 from $3,120,897 for Q2 2012, a 28.4% increase
  • Net loss for the quarter was $5,383 or $0.00 EPS versus a net loss of $38,772 or $0.00 EPS during the comparable period during 2012
  • Operating Income increased to $92,653 or $0.01 compared to $21,389 or $0.00 EPS during Q2 2012
  • Net cash provided by operating activities for Q2 2013 was $205,716
  • Cash increased to $224,051 from $191,187 on March 31, 2013

"Since the pre-launch in January 2013, we have exceeded our original FG Xpress growth goal by 57%. Our gross margins for the quarter were 34.2%, a number we expect to increase substantially in coming quarters. With a strong second quarter and continued increasing sales for July, which traditionally is one of our slower months of the year, we feel confident that we are still on track to reach our sales forecast for 2013 of 30-35% growth with strong profitability. We feel it is very important for investors to note we had strong positive cash flow and operating income for the quarter, with strong positive EBITDA and non-GAAP earnings. As many already know these figures typically more accurately reflect a company's performance. We look forward to accelerated growth moving forward with all earnings, profit and cash metrics continuing to improve. I look forward to sharing recent progress on the conference call tomorrow," stated Ron Williams, CEO.

For a full earnings report please view our entire filing at www.sec.gov.

ForeverGreen Worldwide Corporation develops, manufactures and distributes an expansive line of all natural whole foods and products to North America, Australia, Europe, Asia, South America and Africa. Offerings include their new global offering, PowerStrips. Additionally, they offer Azul and FrequenSea™ whole-food beverages with industry exclusive Marine Phytoplankton, Versativa line of hemp-based whole-food products, A.I.M. Transfer Factor immune support, 03World™ weight management products, Pulse-8 powdered L-arginine formula, TRUessence™ Essential Oils and Apothecary, 24Karat Chocolate®, and an entire catalog of meals, snacks, household cleaners and personal care products. www.forevergreen.org

Forward-Looking Statement

This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.

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ForeverGreen Worldwide Corporation
Craig Smith, 801-655-5500
craig@forevergreen.org
or
Brokers and Analysts:
Chesapeake Group
Kevin Holmes, 410-825-3930
info@chesapeakegp.com

KEYWORDS:   United States  North America  Utah

INDUSTRY KEYWORDS:

The article ForeverGreen Worldwide Announces Q2 2013 Results originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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GreenHunter Resources Announces Barging Site Plan Approval at Wheeling, WV Barge Facility

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GreenHunter Resources Announces Barging Site Plan Approval at Wheeling, WV Barge Facility

Waste Fluid Recycle and Reuse Facility to Serve Utica Shale and Marcellus Shale Region

GRAPEVINE, Texas--(BUSINESS WIRE)-- GreenHunter Resources, Inc. (NYSE MKT: GRH) (NYSE MKT: GRH.PRC) (the "Company"), a diversified water resource, waste management and environmental services company specializing in the unconventional oil and natural gas shale resource plays, announced today that its site plan for the water recycling and barging facility located in Wheeling, WV has been approved by the Wheeling Planning Commission.


This site was originally acquired by GreenHunter Resources in March of this year. GreenHunter expects to receive all necessary building permits over the next several weeks and plans to commence construction upon receipt of all required permits.

Mr. John Jack, Vice President, Appalachian Basin, commented, "GreenHunter has met all of the requirements as requested by the Planning Commission in Wheeling, WV. We are looking forward to helping Wheeling contribute a much needed water management solution to the West Virginia oil and gas industry. Once complete, GreenHunter's Wheeling Barge Terminal and Recycling facility will provide job opportunities for members of the community and help to reduce congestion on roadways by replacing truck traffic with barge transport. GreenHunter continues to look for ways to reduce the cost of water handling and disposal for our customers in this region."

About GreenHunter Water, LLC (a wholly owned subsidiary of GreenHunter Resources, Inc.)

GreenHunter Water, LLC provides Total Water Management Solutions™ in the oilfield. An understanding that there is no single solution to E&P fluids management shapes GreenHunter's technology-agnostic approach to services. In addition to licensing of and joint ventures with manufacturers of mobile water treatment systems (Frac-Cycle®), GreenHunter Water is expanding capacity of salt water disposal facilities, next-generation modular above-ground storage tanks (MAG Tank™), advanced hauling and fresh water logistics services—including 21st Century tracking technologies (RAMCATTM) that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations and reducing cost.

For a visual animation of the Class II Salt Water Disposal well development and completion technique that is being utilized in GreenHunter Water's Appalachia, Eagle Ford, Mississippian Lime and Bakken SWD program, navigate to the video by clicking on "Salt Water Disposal Animation" button on the Operations tab at GreenHunterResources.com or click here.

Additional information about GreenHunter Water may be found at www.GreenHunterWater.com.

Forward-Looking Statements

Any statements in this press release about future expectations and prospects for GreenHunter Resources and its business and other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to implement its business plan, government regulation and competition. GreenHunter Resources undertakes no obligation to update these forward-looking statements in the future.

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GreenHunter Resources, Inc.
Jonathan D. Hoopes
Interim CEO, President and COO
1048 Texan Trail
Grapevine, TX 76051
Tel: (972) 410-1044
jhoopes@greenhunterresources.com

KEYWORDS:   United States  North America  Texas  West Virginia

INDUSTRY KEYWORDS:

The article GreenHunter Resources Announces Barging Site Plan Approval at Wheeling, WV Barge Facility originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Virtual Piggy Provides Business Update

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Virtual Piggy Provides Business Update

Accelerated consumer acquisition and international expansion

LOS ANGELES--(BUSINESS WIRE)-- Virtual Piggy, Inc. (OTCBB: VPIG), an innovator in safe youth payments, today provided a general business update for Q2 and early Q3 2013.


Virtual Piggy promotes financial management while empowering youth under 18 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents. The technology serves as a family wallet that is available online or via mobile, and is always 100% free to use.

In Q2, Virtual Piggy initiated a consumer acquisition campaign to start building their subscriber base. Over the past four months, Virtual Piggy has added over 400,000 new accounts. The accounts are primarily within the U.S. with some recently added Canadian accounts.

The two main areas for teen and tween purchases online are clothing & accessories, and gaming. Virtual Piggy continues to integrate with retailers and game publishers in the US and Europe. In Q3, Virtual Piggy entered into co-marketing initiatives with Claire's www.claires.com and Habbo Hotel (Sulake) www.habbo.com. With over 3,500 stores worldwide, Claire's is a major retailer for the youth market. Virtual Piggy has also recently integrated with Habbo Hotel, which is one of the largest online communities in the world for teenagers. Habbo Hotel currently has over 290 million registered characters in 150 countries and a user base composed 90% with 13-18 year olds.

Virtual Piggy also entered into a marketing agreement with InComm in early Q3 to deliver digital gift cards through Virtual Piggy's e-commerce operation. This allows parents, grandparents, aunts, uncles and friends to easily purchase and send digital gift cards from major brands directly to users of Virtual Piggy. These retailers and publishers will be featured in upcoming holiday promotions at Virtual Piggy.

The company also raised $6.4 million during the second quarter through a private placement of securities as well as option and warrant exercises, bringing cash at the end of Q2 to $8.3 million.

"It's been a very busy two quarters," said Dr. Jo Webber, CEO and Founder of Virtual Piggy. "We are thrilled to be at the point in our growth where we are onboarding users at continuously accelerating rates, integrating major retailers and gaming publishers, and seeing the adoption and use of our platform on a global basis."

Consumer acquisition is the core focus for Virtual Piggy in 2013, and the company continues to rapidly grow both its user base and merchant base, as well as develop channel partner programs with major ecommerce and gaming platforms. In Q2, Virtual Piggy launched in Europe, and the first merchants and users will be live using the Virtual Piggy service in Europe in Q3 2013. As the company builds out this ecosystem, it expects to see some revenue generation from the US, European, and Canadian markets in Q3 and Q4. However, the company does not expect to generate significant revenue until 2014.

About Virtual Piggy, Inc.

Virtual Piggy, Inc. is the first e-commerce solution that enables kids to manage and spend money within parental controls. It enables parents to teach financial management through the use of a secure family wallet that is available online or via mobile and is always 100% free to use. The technology company delivers online security platforms designed for the Under 18 age group in the global online market, and also enables online businesses the ability to function in a manner consistent with the Children's Online Privacy Protection Act ("COPPA") and similar international children's privacy laws. The company is based in Hermosa Beach, CA and on the Web at: www.virtualpiggy.com.

Safe Harbor Statement

All statements herein other than statements of historical facts are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, our limited operating history and revenue, our ability to attract and retain qualified personnel, our dependence on third party developers, our ability to develop new services, market acceptance of our services, legislative, regulatory and competitive developments, enforcement of our intellectual property, general economic conditions, as well as other factors set forth under the caption "Risk Factors" in our Forms 10-K filed with the SEC, and other filings with the SEC.

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JinkoSolar Turns It Around After Two Years of Losses

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Solar rooftop installationJinkoSolar Holding Co. Ltd. (NYSE: JKS) reported second-quarter 2013 results before markets opened this morning. The Chinese solar panel maker reported adjusted diluted earnings per American Depositary Share (ADS) of $0.56 on revenue of $287.6 million. In the same period a year ago, JinkoSolar reported a loss of about $2.19 per ADS on revenue of about $202.3 million. Second-quarter results compare to the Thomson Reuters consensus estimates for a loss of $0.07 per ADS and $298.84 million in revenue. One ADS is equal to four ordinary shares.

Sequentially, revenues improved more than 51% and module shipments were up nearly 45%.

Second-quarter gross margin rose from 12.7% in the first quarter to 17.7%, and more than doubled from 8.4% in the second quarter of 2012.

For the third quarter JinkoSolar expects module shipments in the range of 460 to 500 megawatts. For the full-year shipments are forecast at 1,500 to 1,700 megawatts, up from a previous forecast of 1,200 to 1,500 megawatts.

The company's CEO said:

I am pleased to report JinkoSolar's first quarter of profitability since the third quarter of 2011. [W]e expect to realize net profitability for the entire year as we are confident that this quarter's strong operational and financial performance is indicative of our future performance. ... By the end of this year, we expect to complete solar power projects with total capacity in the range of 200-300 MW and our project pipeline is now rapidly approaching 700 MW. ... With the largest project development pipeline and scale domestically among US-listed Chinese solar manufacturers, we expect our downstream business to benefit greatly as we continue our strategic transformation.

JinkoSolar's results continue the upbeat trend in the solar panel market. Shipments have been increasing, margins are rising and project pipelines are filling up. The squabble over tariffs between China and the European Union is resolved, and Chinese solar makers are shipping modules into Japan at rising rates. Good news for one solar provider is typically good news for all, so look for some nice increases in solar stocks today.

JinkoSolar's shares are up about 11% in premarket trading, at $15.01 in a 52-week range of $2.36 to $15.05. Thomson Reuters had a consensus analyst price target of around $9.25 before today's results were announced.


Filed under: Energy (Business) Tagged: JKS

 

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Macy's Faults Consumer Wariness for Earnings Shortfall

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NEW YORK -- Macy's reported a disappointing profit for its second quarter and cut its outlook for the year Wednesday, with the department store operator citing shoppers' reluctance to spend for a slip in sales.

Its stock fell 3.4 percent to $46.85 in premarket trading.

Macy's (M), which operates its namesake stores and Bloomingdales, is grappling with a yo-yo economic recovery that's making people more careful about their purchases heading into the heart of the key back-to-school selling period.

While jobs are easier to get and the turnaround in the housing market is showing promise, the improvements haven't been enough to get most Americans to spend more. Most are juggling tepid wage gains with higher costs of living.
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On Wednesday, Macy's nevertheless said it was encouraged by its early read on the back-to-school season heading into the third quarter. But other retailers such as teen clothing sellers American Eagle Outfitters (AEO) and Aeropostale (ARO) have cited lots of discounting and warned of a slow start to the period.

Macy's also said that it has been marking down prices after a cool spring and that shoppers are responding positively.

For the period ended Aug. 3, the company says it earned $281 million, or 72 cents a share. That's short of the 78 cents a share analysts expected. A year ago, the company earned $279 million, or 67 cents a share.

Revenue slipped to $6.07 billion, also short of the $6.26 billion analysts expected, according to FactSet.

Revenue at stores open a year, a key metric because it strips out the impact of newly opened and closed locations, slid 0.8 percent.

Macy's, based in Cincinnati, now expects sales at stores open at least a year to climb between 2 percent and 2.9 percent, down from its previous guidance of a 3.5 percent increase.

It also lowered its earnings forecast to $3.80 to $3.90 a share, down from the previous outlook of $3.90 to $3.95 a share.

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Layer 7, a CA Technologies Company, Positioned in the Leaders Quadrant of the Gartner Magic Quadrant

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Layer 7, a CA Technologies Company, Positioned in the Leaders Quadrant of the Gartner Magic Quadrant for Application Services Governance

ISLANDIA, N.Y.--(BUSINESS WIRE)-- Layer 7, a CA Technologies company and leading provider of API and SOA security and management solutions for the open enterprise, today announced it has been positioned by Gartner, Inc. in the Leaders quadrant of the "Magic Quadrant for Application Services Governance."*

According to the report, "Whether it is technology or service providers offering their functionality, or private companies giving access to some of their data according to different charging models, the number of APIs available publicly grows by the day. Their usage is multiplied by a growing population of mobile devices and computing platforms (Web, tablets, smartphones, TVs, video game consoles, cars and more, such as the Internet of Things).


"The design, implementation, publication, operation, maintenance and retirement of those APIs and services need to be governed and managed carefully, which is what 'application services governance' does."

"APIs are the cornerstone of what defines today's open enterprise and helps it meet its strategies around mobile and cloud and even revenue," said Dimitri Sirota, senior vice president, Security, CA Technologies and co-founder of Layer 7. "The critical elements that need to accompany any business strategy involving APIs are security, management and, of course, governance. We believe our positioning in the Leaders quadrant is confirmation of our mission to securely enable the open business."

To receive a complimentary copy of the report, please visit Magic Quadrant for Application Services Governance. To learn more about Layer 7, a CA Technologies company, visit please visit www.layer7tech.com or www.ca.com/layer7 and follow on Twitter at @layer7 and @CASecurity.

*GartnerMagic Quadrant for Application Services Governance by Paolo Malinverno, Daryl C. Plummer, Gordon Van Huizen, Aug. 8, 2013

Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About CA Technologies

CA Technologies (NAS: CA) provides IT management solutions that help customers manage and secure complex IT environments to support agile business services. Organizations leverage CA Technologies software and SaaS solutions to accelerate innovation, transform infrastructure and secure data and identities, from the data center to the cloud. Learn more about CA Technologies at www.ca.com.

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Copyright © 2013 CA. All Rights Reserved. One CA Plaza, Islandia, N.Y. 11749. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

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The article Layer 7, a CA Technologies Company, Positioned in the Leaders Quadrant of the Gartner Magic Quadrant for Application Services Governance originally appeared on Fool.com.

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Rock Out With New NextRadio App on Red Hot HTC One Exclusively from Sprint Beginning Aug. 16

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Rock Out With New NextRadio App on Red Hot HTC One Exclusively from Sprint Beginning Aug. 16

NextRadio seamlessly brings live FM radio with interactive content to Sprint smartphones

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Do you love rocking out to your favorite local radio station on your smartphone but hate the toll it takes on your battery when you stream? Music lovers rejoice! Sprint signed an industry first and will offer access to the new NextRadio® interactive FM radio application beginning with HTC One® and HTC EVO® 4G LTE. This deal will allow Sprint to provide the NextRadio service on a broad range of Sprint smartphone devices during the next several years.


With NextRadio, listening to FM radio on smartphones offers a new type of interactive radio listening experience. When compared with streaming, NextRadio consumes about three times less battery life than other music apps. That's because the audio is coming through a built-in FM tuner instead of over the Internet.

NextRadio is a free app that comes preloaded on HTC One from Sprint for all new activations. Customers who already own HTC One or HTC EVO 4G LTE from Sprint can download NextRadio through Google Play at no additional charge.

Don't have HTC One just yet? No worries! Beginning Friday, Aug. 16, HTC One is launching in a hot, new red color, exclusively for Sprint customers. HTC One in red will be available in all Sprint Stores, Sprint Business Sales, Telesales (1-800-SPRINT1) and Web Sales for $199.99 with a new two-year service agreement or eligible upgrade (excludes taxes and surcharges). The device is currently available in silver and black.

And to turn up the heat even more, from Aug. 16 through Aug. 30, Sprint will offer a special promotion to make it even easier for customers to get their hands on the HTC One with interactive FM radio from NextRadio. For a limited time and while supplies last, customers can purchase an HTC One and get a second one for free, in any of the three color options - silver, black or red1.

"Our customers already enjoy listening to a variety of music apps on their smartphones, but NextRadio makes it easier than ever to interact with the local radio stations they enjoy listening to in the car virtually anywhere," said Fared Adib, senior vice president-Product Development, Sprint. "Marking another innovation milestone for Sprint, our partners at NextRadio are transforming the FM radio listening experience by allowing users to interact with their favorite radio shows by calling or messaging directly from their smartphone."

NextRadio allows users to:

  • Browse stations in their local area by genre or frequency, set favorites, view recently played stations or use a traditional tuner interface
  • Call or text the radio shows they love, providing the ability to send instant feedback to the station whenever and virtually wherever they are listening
  • Watch music and talk come to life with album art, station logos, song and show details, and instant actions like sharing or purchasing songs right from their phone

A headset or speaker wire plugged into the 3.5mm stereo audio jack is required and serves as the antenna for the FM radio chip. Customers can easily find a radio station from the NextRadio onscreen guide, which is divided by music genre or selecting the station dial position. The app also includes radio station logos, slogans and programming description.

"We're excited that an innovative wireless carrier like Sprint is leading the effort to offer American consumers something they've always loved - listening to the radio - right in the palm of their hands," said Gordon Smith, president of the National Association of Broadcasters. "This service expands on that experience by enabling consumers to interact with local broadcasters directly through the application."

For more information about the NextRadio application, visit www.nextradioapp.com.

About Sprint

Sprint offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served more than 53 million customers at the end of the second quarter of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years. Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation's greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.

HTC, HTC One and HTC EVO 4G are trademarks of HTC Corporation.

1Qualifying data plans and new activations w/2-yr agreement required. Buy One Get One Free HTC One valid from 8/16/2013 to 8/30/2013. Offer requires qualifying data plan and new activation with 2-year agreement. While supplies last. Other restrictions apply. See [Sprint web site with deal] for details.

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The article Rock Out With New NextRadio App on Red Hot HTC One Exclusively from Sprint Beginning Aug. 16 originally appeared on Fool.com.

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