Companies news of 2014-08-01 (page 1)

  • Gameloft Optimizes 4 of Its Most Successful Titles for the ZTE 9 Game Box
  • New Energy Savers GA 90+-160 Air Compressors From Atlas Copco
  • Tree.com, Inc. to Participate in Needham Interconnect Conference and Release Earnings on...
  • Saint Joseph Hospital Foundation Helps Patients Monitor Chronic Disease with Support from...
  • Stoneridge Completes The Sale Of Its Wiring Business To Motherson Sumi Systems Limited-...
  • Italian Court of Ancona Approves Whirlpool Corporation's Indesit Share Purchase
  • MAM Software Group to Present at Needham Annual Interconnect ConferenceCompany Rescheduled...
  • New Energy Savers GA 90+-160 Air Compressors From Atlas Copco
  • FARO Announces Acquisition of The CAD Zone, Inc. to Expand Presence in the Law Enforcement...
  • EMC Declares Quarterly Cash Dividend
  • Palo Alto Networks to Announce Fourth Quarter and Fiscal Year 2014 Financial Results on...
  • NXT-ID Announces Upcoming Wocket(TM) In Your Pocket Celebrity Ad Campaign for Smart...
  • More Than 3,000 Moms Will Join TheBump.com Boob-olution And Breastfeed In Public Today--...
  • API Technologies Wins New $3.0 Million Order for Secure Wireless Communication Systems
  • Abtech Holdings Schedules Conference Call to Present Second Quarter 2014 Financial Results
  • Reflexis Chooses IBM Cloud Infrastructure To Power Retail Cloud Offering
  • OM Group Announces Second Quarter 2014 Financial Results And Share Repurchases
  • TDS reports second quarter 2014 resultsU.S. Cellular provides 2014 financial guidance; TDS...
  • FARO Announces Acquisition of The CAD Zone, Inc. to Expand Presence in the Law Enforcement...
  • Conference on 3D Printing to Open in Schaumburg, ILCutting-edge technology sessions...
  • TeleCommunication Systems and NextNav Demonstrate Indoor Location Accuracy Technology...
  • U.S. Cellular reports second quarter 2014 resultsProvides 2014 financial guidanceAs...
  • Geeknet Announces Second Quarter 2014 Financial Results and Acquisition of Treehouse Brand...
  • MICT to Announce Second Quarter Financial Results and Host Conference Call August 14, 2014
  • Halla Visteon Climate Control Completes Acquisition of Thermal and Emissions Product Line...
  • Scientific Games to Acquire Bally Technologies In Transaction Valued at $5.1...
  • Bell Aliant reports second quarter 2014 results
  • JD.com to Report Second Quarter 2014 Financial Results on August 15, 2014
  • Nightingale Reports Fiscal 2014 Results



    Gameloft Optimizes 4 of Its Most Successful Titles for the ZTE 9 Game Box

    PARIS, August 1, 2014 /PRNewswire/ --

    Gameloft, a leading global publisher of digital and social games, is optimizing four of its most popular games for the Funbox, a "Game Box" from ZTE 9: Modern Combat 4: Zero Hour, Dungeon Hunter 4, GT Racing 2: The Real Car Experience, and Real Football 2013.

    ZTE 9 will be present at ChinaJoy 2014, which will be held from July 31 to August 3 in Shanghai, and will show demos of Gameloft titles on its "Game Box", the Funbox.

    "We're thrilled to collaborate with ZTE 9 to make our popular titles available on the Funbox", says Gonzague De Vallois, Senior Vice President of Publishing at Gameloft. "This project proves yet again Gameloft's desire to offer our games to as many players as possible."

    "We're witnessing a real evolution in the set top box market," adds Zeng Xuezhong at ZTE 9. "Thanks to this partnership, we'll be able to offer our users the chance to discover popular games on the big screen."

    Modern Combat 4: Zero Hour, Dungeon Hunter 4, GTRacing 2: The Real Car Experience and Real Football 2013 will be available on the Funbox this summer. Other Gameloft titles will be added to the catalog very soon and will be available to download for free on the Funbox Store.

    The Funbox from ZTE 9 is already available in China only.

    About Gameloft:

    A leading global publisher of digital and social games, Gameloft(R) has established itself as one of the top innovators in its field since 2000. Gameloft creates games for all digital platforms, including mobile phones, smartphones and tablets (including Apple(R) iOS, Android(R) and Windows(R) devices), set-top boxes and connected TVs. Gameloft operates its own established franchises such as Asphalt(R), Order & Chaos, Modern Combat or Dungeon Hunter and also partners with major rights holders including Universal, Illumination Entertainment, Disney(R), Marvel(R), Hasbro(R), Fox Digital Entertainment, Mattel(R) and Ferrari(R).

    Gameloft is present on all continents, distributes its games in over 100 countries and employs over 5,200 developers.

    Gameloft is listed on NYSE Euronext Paris . Gameloft is traded OTC in the US .

    Contact medias : Stephanie Cazaux-Moutou Responsable Relations presse Tel. +33-1-58-16-21-55 E-mail : Stephanie.cazaux-moutou@gameloft.com

    Gameloft



    New Energy Savers GA 90+-160 Air Compressors From Atlas Copco

    ANTWERP, Belgium, August 1, 2014 /PRNewswire/ --

    - Atlas Copco unveils the latest GA 90+-160 range of oil-injected rotary screw compressors, designed to reach new productivity levels and reduce operating costs. The patented screw element is packaged in a new enhanced design which improves the performances by up to 5% compared to the previous generation. New innovative features help to increase the availability and durability of the compressors.

    Longer service intervals and reduced maintenance time

    Thousands of Atlas Copco GA air compressors are operating around the globe in applications like power plants, mining, cement, glass and metal industries.

    The new GA 90+-160 range is the result of solid industry knowledge combined with innovative features.

    With their high-cooling capacity, GA air compressors can perform in all demanding operating conditions and up to 55degree(s)C/ 131degree(s)F. The intelligent control and monitoring systems, the Elektronikon(R) and the SmartLink(R), offer many possibilities to optimize the compressor operation and further increase the savings. To reduce the operating costs, the new range offers longer service intervals and reduced maintenance time.

    "At Atlas Copco, we innovate to maximize value for our customers. Efficiency is in our DNA and lowering the energy costs of our customers is our primary focus. But there is more we can offer: serviceability, ease of installation, integration, and monitoring. The new GA 90+-160 is another great example that our expertise lead to tangible benefits," says Chris Lybaert, President Atlas Copco Oil-free Air division.

    More energy savings, less CO2 emissions

    The GA 90+-160 oil-injected rotary screw compressor range includes energy savings features like the IE3 motor, the no-loss water separator drain, the energy recovery module and the in-build dryers.

    The unique integrated dryer concept delivers clean, dry air to improve the process' reliability and increases the energy savings. With the reduced floor space requirement, and the all-inclusive package, the installation costs are considerably reduced.

    "In today's industrial environment, our customers are looking for solutions that improve sustainability, efficiency and productivity, while lowering operational risk. We are very proud to add this new GA 90+-160 range to our offering. More energy savings, less CO2 emissions, the Atlas Copco drive for efficiency continues," says Conrad Latham, Vice President Marketing, Atlas Copco Oil-free Air division.

    Visit http://multimedia.atlascopco.com (image no : ac0059371)

    Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees. Learn more at http://www.atlascopco.com.

    Atlas Copco's Compressor Technique business area provides industrial compressors, vacuum solutions, gas and process compressors and expanders, air and gas treatment equipment and air management systems. The business area has a global service network and innovates for sustainable productivity in the manufacturing, oil and gas, and process industries. Principal product development and manufacturing units are located in Belgium, Germany, the United States, China and India.

    For further information please contact: Michael Gaar, PR Coordinator, Telephone: +32-(0)-3-750-80-88, e-mail: Michael.gaar@be.atlascopco.com Conrad Latham, Vice President Marketing West Region, E-mail: conrad.latham@atlascopco.com Dalila Assous, Marketing Product Manager E-mail: dalila.assous@atlascopco.com Keerti Lele, Vice President Communications and Competence Development Telephone: +32(0)3750-8085, E-mail: keerti.lele@be.atlascopco.com

    Atlas Copco



    Tree.com, Inc. to Participate in Needham Interconnect Conference and Release Earnings on August 5, 2014

    CHARLOTTE, N.C., Aug. 1, 2014 /PRNewswire/ -- Tree.com, Inc. today announced that it will participate the in the Needham Interconnect Conference on Tuesday, August 5, 2014. Alex Mandel, Chief Financial Officer, will be presenting at 10:30 AM Eastern Time (ET). The presentation will be open to the general public via webcast at http://wsw.com/webcast/needham68/tree.

    http://photos.prnewswire.com/prnvar/20110518/MM04466LOGO

    Additionally, the Company will release its fiscal second quarter 2014 results to the public before trading begins on August 5, 2014, one day earlier than previously announced. The Company's conference call to discuss the quarter's results will be held as originally scheduled on Wednesday, August 6 at 4:30 PM ET.

    Needham conference webcast link
    http://wsw.com/webcast/needham68/tree

    Earnings conference call
    Dial in #: (877) 606-1416
    (707) 287-9313 outside the United States/Canada

    To listen to a replay of the earnings call
    Toll free #: (855) 859-2056
    (404) 537-3406 outside the United States/Canada
    Replay Passcode: 78803003

    Replay will be available beginning at 7:30 p.m. Eastern Time on Wednesday, August 6 until 11:59 p.m. on Monday, August 11, 2014.

    About Tree.com, Inc.
    Tree.com, Inc. is the parent of several brands and businesses that provide information, tools, advice, products and services for critical transactions in consumers' lives. Our family of brands includes: LendingTree(R), GetSmart(R), LendingTreeAutos(SM), LendingTree Education(SM) and LendingTree HomePros(SM). Together, these brands serve as an ally for consumers who are looking to comparison shop for loans, autos, education, home services and other services from multiple businesses and professionals who will compete for their business.

    Tree.com, Inc. is headquartered in Charlotte, NC and maintains operations solely in the United States. For more information, please visit www.tree.com.

    Logo - http://photos.prnewswire.com/prnh/20110518/MM04466LOGO

    Photo: http://photos.prnewswire.com/prnh/20110518/MM04466LOGO Tree.com, Inc.

    CONTACT: Investor Relations, 877-640-4856,
    tree.com-investor.relations@tree.com

    Web site: http://www.tree.com/




    Saint Joseph Hospital Foundation Helps Patients Monitor Chronic Disease with Support from Verizon

    LEXINGTON, Ky., Aug. 1, 2014 /PRNewswire/ -- Select patients managing chronic disease will soon have new technologies at their fingertips to monitor their condition thanks to the support of Verizon to the Saint Joseph Hospital Foundation, part of KentuckyOne Health.

    Funding from the Verizon Foundation as well as in-kind donation of technologies from Verizon Wireless will create a program to help patients age 50 and older monitor and manage their health with new technologies after being discharged from Saint Joseph Hospital, Saint Joseph East and Saint Joseph Mount Sterling, all part of KentuckyOne Health.

    Additionally, some patients referred from a primary care provider with certain serious health concerns or patients who have been treated for congestive heart failure, acute myocardial infarction, chronic obstructive pulmonary disease (COPD), coronary artery bypass graft surgery, diabetes, hypertension, hyperlipidemia and other concerns are eligible to enroll in the program.

    The in-kind donation of technologies from Verizon includes 4G LTE powered smartphones and tablets. In addition, grant funds will purchase biometric devices to allow patients to better self-manage their chronic conditions and share information with R.N. transition coaches, health coaches, certified dietitians, diabetes educators, nutrition counselors and primary care physicians, to better help patients achieve their health goals. Patients will use these Verizon Wireless smartphones and tablets over the course of six months to access pre-loaded health apps, such as Glucose Buddy and Fooducate.

    "It is the mission of KentuckyOne Health to bring wellness, healing and hope to all, including the underserved," said Ruth Brinkley, CEO, KentuckyOne Health. "We are grateful to Verizon for its generous support and partnership in helping us bring that mission to life through this important program."

    "Programs like this provided by Saint Joseph Hospital and KentuckyOne Health allow wireless technologies to help the underserved in rural communities improve long-term health outcomes and the strongest opportunity for overall wellbeing," said John Granby, president of Verizon Wireless for Michigan, Indiana and Kentucky. "This program is a strong fit with the Verizon Foundation's mission to use our technology to solve critical social issues."

    The $125,000 grant from the Verizon Foundation will provide items such as digital weight scales, blood pressure monitors, FitBit activity trackers, CalorieKing Calorie, Fat and Carbohydrate Counter book and digital food scales/nutritional calculators. The grant funding will provide some Diabetes Mellitus patients with glucose test strips.

    The program will also provide each patient with health coaching based on his or her individual health needs. The coaching may include diabetes education, nutritional counseling and more. Participants get to keep the cookbook and the digital food scale/nutritional calculator.

    The goal is to enroll 300 patients in the first year of the program.

    Verizon is also supplying all of the technology protective gear for the devices, the data plans to allow that technology to work, plus funding for a part-time dietitian and research assistant for the program.

    "We are excited to forge this new partnership with Verizon through a grant that will make a significant and direct impact on the health of patients," said Di Boyer, director of major gifts, Saint Joseph Hospital Foundation.

    About the Verizon Foundation
    The Verizon Foundation is focused on accelerating social change by using the company's innovative technology to help solve pressing problems in education, healthcare and energy management. Since 2000, the Verizon Foundation has invested more than half a billion dollars to improve the communities where Verizon employees work and live. Verizon's employees are generous with their donations and their time, having logged more than 6.8 million hours of service to make a positive difference in their communities. For more information about Verizon's philanthropic work, visit www.verizonfoundation.org; or for regular updates, visit the Foundation on Facebook (www.facebook.com/verizonfoundation) and Twitter (www.twitter.com/verizongiving).

    About KentuckyOne Health
    KentuckyOne Health was formed when two major Kentucky health care organizations came together in early 2012. KentuckyOne Health combines the Jewish and Catholic heritages of the two former systems - Jewish Hospital & St. Mary's HealthCare and Saint Joseph Health System. In late 2012, the organization formed a partnership with the University of Louisville Hospital | James Graham Brown Cancer Center. The nonprofit system is committed to improving the health of Kentuckians by integrating medical research, education, technology and health care services wherever patients receive care. KentuckyOne Health has more than 200 locations including hospitals, physician groups, clinics, primary care centers, specialty institutes and home health agencies across the state of Kentucky and southern Indiana.

    For More Information:
    David McArthur, Community and Media Relations Manager
    502.562.7016 or 502.648.3411
    davidmcarthur@kentuckyonehealth.org

    Verizon Wireless

    Web site: http://www.verizonwireless.com/




    Stoneridge Completes The Sale Of Its Wiring Business To Motherson Sumi Systems Limited- Receives $71.4 million in cash from the transaction- Announces Redemption of 10% of its Outstanding Senior Secured 9.5% Notes

    WARREN, Ohio, Aug. 1, 2014 /PRNewswire/ -- Stoneridge, Inc. today completed the previously announced sale of its Wiring Business assets to Motherson Sumi Systems Ltd. ("Motherson") in accordance with the Asset Purchase Agreement dated May 26, 2014. Cash proceeds for the transaction were $71.4 million and consisted of the $65.7 million stated purchase price and the assumption of certain related liabilities of the Wiring Business adjusted for certain cash on hand and an estimated net working capital credit. Final proceeds are subject to customary post-closing adjustments.

    Included in the transaction are six manufacturing facilities located in Portland, Indiana; Chihuahua, Mexico; Saltillo, Mexico; and Monclova, Mexico; as well as an engineering and administrative center located in Warren, Ohio. The Wiring Business designs and manufactures wiring harness products for sale principally to the commercial, agricultural and off-highway vehicle markets, as well as assembles entire instrument panels that are configured specifically to an OEM customer's specifications in the commercial vehicle market.

    "Closing the transaction to sell the Wiring Business marks a significant milestone in our journey to transform Stoneridge," said John C. Corey, President and Chief Executive Officer of Stoneridge.

    Corey added, "With the sale of our Wiring Business completed, we will focus our resources on our other business segments, which are technology-driven with global applications and offer greater opportunities to provide higher value to our shareholders."

    The Company also announced it intends to promptly cause the Notes Trustee to issue a Notice of Redemption for redemption of 10% of its senior secured 9.5% notes (the "Notes"), or $17.5 million of Notes, for redemption at 103% of the principal amount of the Notes. Under the Notes Indenture, 10% of the Notes are redeemable prior to October 15, 2014 at a price of 103% of the principal amount of the Notes (plus accrued and unpaid interest). The Company expects cash interest savings generated over the rest of 2014 to approximate $540,000 compared with the prior year. The Company also expects a benefit of $300,000, or $0.01 per share, after considering the write-off of deferred financing fees and Note discount for the balance of the year when compared to 2013.

    Corey continued, "Calling 10% of our Notes is a first step in recapitalizing Stoneridge by lowering our debt balance and reducing our interest costs. We hope to announce another step in the near future which should lower Stoneridge's debt balance and interest expenses significantly by adding flexibility to our capital structure, which will allow us to better utilize our cash balances to reduce interest expense while simultaneously allowing us the ability to borrow for acquisitions if needed. Repayment of debt will be our first priority upon receipt of the proceeds from the Wiring Business sale."

    About Stoneridge, Inc.
    Stoneridge, Inc., headquartered in Warren, Ohio, is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, commercial vehicle, motorcycle and off-highway vehicle markets. Additional information about Stoneridge can be found at www.stoneridge.com.

    Forward-Looking Statements
    Statements in this release that are not historical fact are forward-looking statements which involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied in this release. Things that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the loss of a major customer; a significant volume change in commercial vehicle, automotive, agricultural, motorcycle and off-highway vehicle production; disruption in the OEM supply chain due to bankruptcies; a significant change in general economic conditions in any of the various countries in which the Company operates; labor disruptions at the Company's facilities or at any of the Company's significant customers or suppliers; the ability of the Company's suppliers to supply the Company with parts and components at competitive prices on a timely basis; customer acceptance of new products; and the failure to achieve successful integration of any acquired company or business. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in the Company's periodic filings with the Securities and Exchange Commission.

    Stoneridge, Inc.

    CONTACT: Kenneth A. Kure, Corporate Treasurer and Director of Finance,
    330/856-2443

    Web site: http://www.stoneridge.com/




    Italian Court of Ancona Approves Whirlpool Corporation's Indesit Share Purchase

    BENTON HARBOR, Mich., Aug. 1, 2014 /PRNewswire/ -- Whirlpool Corporation announces that today the Italian Court of Ancona issued the authorization relating to the sale of certain Indesit Company S.p.A. (BIT: IND) shares to Whirlpool. On July 10, 2014, Whirlpool, Fineldo S.p.A. and members of the Merloni family entered into binding agreements for Whirlpool's acquisition of Indesit shares subject to court and antitrust approval and other customary conditions. The acquisition, together with the July 17 acquisition of Ms. Claudia Merloni's shares, will provide Whirlpool with a 66.8 percent voting stake in Indesit. Closing on these agreements remains subject to antitrust approvals and is expected to take place by the end of 2014.

    http://photos.prnewswire.com/prnvar/20040202/DETU004LOGO

    About Whirlpool Corporation

    Whirlpool Corporation is the world's leading global manufacturer and marketer of major home appliances, with annual sales of approximately $19 billion in 2013, 69,000 employees and 59 manufacturing and technology research centers around the world. The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names. Additional information about the company can be found at http://www.whirlpoolcorp.com.

    Whirlpool Additional Information

    CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

    Certain statements in this press release relating to the acquisition of the shares in Indesit pursuant to the share purchase agreements constitute "forward-looking statements" within the meaning of the U.S. federal securities laws. These statements reflect management's current expectations regarding future events and speak only as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance and will not necessarily be accurate indications of whether or not, or the times at or by which, events will occur. Actual performance may differ materially from that expressed or implied in such statements. These statements rely on assumptions which may or may not be realized. Reference should be made to the information set forth under the heading "Cautionary Statements Regarding Forward-Looking Statements" as set forth in Whirlpool's Current Report on Form 8-K dated July 10, 2014 and filed with the U.S. Securities and Exchange Commission.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.

    Logo - http://photos.prnewswire.com/prnh/20040202/DETU004LOGO

    Photo: http://photos.prnewswire.com/prnh/20040202/DETU004LOGO Whirlpool Corporation

    CONTACT: Whirlpool Corporation, Media: 269/923-7405, Media@Whirlpool.com,
    Financial: Chris Conley, 269/923-2641, Investor_Relations@Whirlpool.com

    Web site: http://www.whirlpoolcorp.com/




    MAM Software Group to Present at Needham Annual Interconnect ConferenceCompany Rescheduled to Present on Tuesday, August 5, 2014

    BARNSLEY, England, Aug. 1, 2014 /PRNewswire/ -- MAM Software Group, Inc. (the "Company" or "MAM"), a leading global provider of on-premise and cloud-based business management solutions for the auto parts, tire and vertical distribution industries, announced that Michael Jamieson, Chief Executive Officer, and Charles Trapp, Chief Financial Officer, will now present at the Needham Interconnect Conference at at 12:15 p.m. ET, on Tuesday, August 5, 2014 in Grand Ballroom A. The conference will be held August 5-6, 2014 at The Westin New York Grand Central Hotel, 212 East 42(nd) Street, New York, NY. MAM Software management will be available during the day on August 5, 2014 for one-on-one meetings. To schedule a one-on-one meeting, please contact your Needham representative or Peter Seltzberg at HaydenIR at 646-415-8972.

    http://photos.prnewswire.com/prnvar/20130507/NY08535LOGO

    Investors and other interested parties may access the live presentation on the company's website at http://www.mamsoftware.com/usa/investor-relations. This webcast will be archived for 90 days following the live presentation.

    About Needham Interconnect Conference

    Needham's Annual Interconnect Conference will feature public growth companies and later-stage private companies in the Consumer Internet & Digital Media and Software & Services markets. The Interconnect Conference provides investor access to companies that are defining key investment trends including: Big Data, Cloud Computing, EdTech, FinTech, HCM, Online Marketplaces, Network Security, SaaS, SoLoMo, and Strategic Outsourcing. One-on-one meetings with companies will be available for qualified investors. This conference is by invitation only. Please contact your Needham salesperson for registration details as space will be limited.

    MAM Software is a leading global provider of on-premise and cloud-based business management solutions for the auto parts, tire and vertical distribution industries. The company provides a portfolio of innovative software (SaaS and packaged), data (DaaS), and integration (iPaaS) services that enable businesses to intelligently manage core business processes, control costs and generate new profit opportunities. MAM's integrated platforms provide a wealth of rich functionality including: point-of-sale, inventory, purchasing, reporting, data and e-commerce. Wholesale, retail and installer business across North America, the U.K. and Ireland rely on MAM solutions, backed by dedicated teams of experienced service and support professionals. For further information, please visit www.mamsoftware.com.

    Logo - http://photos.prnewswire.com/prnh/20130507/NY08535LOGO

    Photo: http://photos.prnewswire.com/prnh/20130507/NY08535LOGO MAM Software Group, Inc.

    CONTACT: MAM Software, Charles F. Trapp, Executive Vice President and
    Chief Financial Officer, 610-336-9045 ext. 240,
    charlie.trapp@mamsoftwaregroup.com; Hayden IR, Brett Maas, Principal,
    646-536-7331, brett@haydenir.com

    Web site: http://www.mamsoftware.com/




    New Energy Savers GA 90+-160 Air Compressors From Atlas Copco

    ANTWERP, Belgium, August 1, 2014 /PRNewswire/ --

    - Atlas Copco unveils the latest GA 90+-160 range of oil-injected rotary screw compressors, designed to reach new productivity levels and reduce operating costs. The patented screw element is packaged in a new enhanced design which improves the performances by up to 5% compared to the previous generation. New innovative features help to increase the availability and durability of the compressors.

    Longer service intervals and reduced maintenance time

    Thousands of Atlas Copco GA air compressors are operating around the globe in applications like power plants, mining, cement, glass and metal industries.

    The new GA 90+-160 range is the result of solid industry knowledge combined with innovative features.

    With their high-cooling capacity, GA air compressors can perform in all demanding operating conditions and up to 55degree(s)C/ 131degree(s)F. The intelligent control and monitoring systems, the Elektronikon(R) and the SmartLink(R), offer many possibilities to optimize the compressor operation and further increase the savings. To reduce the operating costs, the new range offers longer service intervals and reduced maintenance time.

    "At Atlas Copco, we innovate to maximize value for our customers. Efficiency is in our DNA and lowering the energy costs of our customers is our primary focus. But there is more we can offer: serviceability, ease of installation, integration, and monitoring. The new GA 90+-160 is another great example that our expertise lead to tangible benefits," says Chris Lybaert, President Atlas Copco Oil-free Air division.

    More energy savings, less CO2 emissions

    The GA 90+-160 oil-injected rotary screw compressor range includes energy savings features like the IE3 motor, the no-loss water separator drain, the energy recovery module and the in-build dryers.

    The unique integrated dryer concept delivers clean, dry air to improve the process' reliability and increases the energy savings. With the reduced floor space requirement, and the all-inclusive package, the installation costs are considerably reduced.

    "In today's industrial environment, our customers are looking for solutions that improve sustainability, efficiency and productivity, while lowering operational risk. We are very proud to add this new GA 90+-160 range to our offering. More energy savings, less CO2 emissions, the Atlas Copco drive for efficiency continues," says Conrad Latham, Vice President Marketing, Atlas Copco Oil-free Air division.

    Visit http://multimedia.atlascopco.com (image no : ac0059371)

    Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees. Learn more at http://www.atlascopco.com.

    Atlas Copco's Compressor Technique business area provides industrial compressors, vacuum solutions, gas and process compressors and expanders, air and gas treatment equipment and air management systems. The business area has a global service network and innovates for sustainable productivity in the manufacturing, oil and gas, and process industries. Principal product development and manufacturing units are located in Belgium, Germany, the United States, China and India.

    For further information please contact: Michael Gaar, PR Coordinator, Telephone: +32-(0)-3-750-80-88, e-mail: Michael.gaar@be.atlascopco.com Conrad Latham, Vice President Marketing West Region, E-mail: conrad.latham@atlascopco.com Dalila Assous, Marketing Product Manager E-mail: dalila.assous@atlascopco.com Keerti Lele, Vice President Communications and Competence Development Telephone: +32(0)3750-8085, E-mail: keerti.lele@be.atlascopco.com

    Atlas Copco



    FARO Announces Acquisition of The CAD Zone, Inc. to Expand Presence in the Law Enforcement Products and Services Market

    LAKE MARY, Fla., Aug. 1, 2014 /PRNewswire/ -- FARO Technologies, Inc. , the world's most trusted source for 3D measurement, imaging and realization technology, announced it has acquired The CAD Zone, Inc., a leading software provider in the law enforcement accident and crime scene reconstruction market. CAD Zone's point cloud software application will be integrated with FARO's laser scanning technology to provide turnkey solutions for crime scene and other forensic applications.

    http://photos.prnewswire.com/prnvar/20110415/MM84316LOGO

    FARO's continued push into the $8.3 billion[1] law enforcement forensic technologies market supports its implementation of a long-term strategy of expansion into key vertical markets with its disruptive 3D metrology, imaging and realization products.

    "We believe CAD Zone's leading software solutions for law enforcement will provide FARO with a compelling integrated 3D documentation product offering," stated Jay Freeland, FARO's President and CEO. "This acquisition is an important part of our strategic focus on penetrating key vertical markets that offer FARO the most market potential. While law enforcement is a relatively small vertical market for FARO today, we believe it represents a significant opportunity for the right 3D documentation solution and our acquisition of CAD Zone takes a major step forward in creating that offering."

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about FARO's growth, demand for and customer acceptance of FARO's products, anticipated improvement in the markets in which FARO operates, and FARO's product development and product launches. Statements that are not historical facts or that describe the Company's plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as "believe," "is," "will," and similar expressions or discussions of FARO's plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.

    Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:

    --  the Company's inability to successfully identify and acquire target
    companies or achieve expected benefits from acquisitions that are
    consummated;
    --  development by others of new or improved products, processes or
    technologies that make the Company's products less competitive or
    obsolete;
    --  the Company's inability to maintain its technological advantage by
    developing new products and enhancing its existing products;
    --  declines or other adverse changes, or lack of improvement, in industries
    that the Company serves or the domestic and international economies in
    the regions of the world where the Company operates and other general
    economic, business, and financial conditions; and
    --  other risks detailed in Part I, Item 1A. Risk Factors in the Company's
    Annual Report on Form 10-K for the year ended December 31, 2013.
    

    Forward-looking statements in this release represent the Company's judgment as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law.

    About FARO
    FARO is the world's most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes.

    Approximately 15,000 customers are operating more than 30,000 installations of FARO's systems, worldwide. The Company's global headquarters is located in Lake Mary, FL; its European regional headquarters in Stuttgart, Germany; and its Asia/Pacific regional headquarters in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, Portugal, India, China, Malaysia, Vietnam, Thailand, South Korea, and Japan.

    More information is available at http://www.faro.com.

    [1] Transparency Market Research, Forensic Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

    Logo - http://photos.prnewswire.com/prnh/20110415/MM84316LOGO

    Photo: http://photos.prnewswire.com/prnh/20110415/MM84316LOGO FARO Technologies, Inc.

    CONTACT: Nancy Setteducati, Nancy.setteducati@faro.com; 407-333-9911

    Web site: http://www.faro.com/




    EMC Declares Quarterly Cash Dividend

    HOPKINTON, Mass., Aug. 1, 2014 /PRNewswire/ -- EMC Corporation today announced that the Company's Board of Directors has declared a quarterly cash dividend of $0.115 per common share. The dividend will be payable on October 23, 2014 to shareholders of record on October 1, 2014.

    About EMC
    EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset -- information -- in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.

    EMC is a registered trademark of EMC Corporation in the United States and/or other countries. All other trademarks used are the property of their respective owners.

    EMC Corporation

    CONTACT: Katryn McGaughey, (508) 293-7717, katryn.mcgaughey@emc.com

    Web site: http://www.emc.com/




    Palo Alto Networks to Announce Fourth Quarter and Fiscal Year 2014 Financial Results on Tuesday, September 9, 2014

    SANTA CLARA, Calif., Aug. 1, 2014 /PRNewswire/ -- Palo Alto Networks, Inc. today announced that it will release its financial results for its fourth quarter and fiscal year 2014 ended July 31, 2014 after U.S. markets close on Tuesday, September 9, 2014. Palo Alto Networks will host a conference call that day at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) to discuss the results.

    http://photos.prnewswire.com/prnvar/20130508/SF04701LOGO

    Interested parties may access the conference call by dialing 1-866-515-2912 or 1-617-399-5126 and entering the passcode 85248539.

    A live audio webcast of the conference call will be accessible from the "Investors" section of Palo Alto Networks website at investors.paloaltonetworks.com. The webcast will be archived for a period of one year. A telephonic replay of the conference call will be available two hours after the call and will run for five business days and may be accessed by dialing 1-888-286-8010 or 617-801-6888 and entering the passcode 78312357. The press release will be accessible from Palo Alto Networks website prior to the commencement of the conference call.

    ABOUT PALO ALTO NETWORKS
    Palo Alto Networks is leading a new era in cybersecurity by protecting thousands of enterprise, government, and service provider networks from cyber threats. Unlike fragmented legacy products, our security platform safely enables business operations and delivers protection based on what matters most in today's dynamic computing environments: applications, users, and content. Find out more at www.paloaltonetworks.com.

    Palo Alto Networks and the Palo Alto Networks Logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names or service marks used or mentioned herein belong to their respective owners.

    Logo - http://photos.prnewswire.com/prnh/20130508/SF04701LOGO

    Photo: http://photos.prnewswire.com/prnh/20130508/SF04701LOGO Palo Alto Networks, Inc.

    CONTACT: Media Contact: Jennifer Jasper Smith, Head of Corporate
    Communications, Palo Alto Networks, 408-638-3280,
    jjsmith@paloaltonetworks.com, Investor Relations Contact: Kelsey Turcotte,
    Vice President of Investor Relations, 408-753-3872,
    kturcotte@paloaltonetworks.com, or Chris Danne/Maria Riley, The Blueshirt
    Group, 415-217-7722, ir@paloaltonetworks.com




    NXT-ID Announces Upcoming Wocket(TM) In Your Pocket Celebrity Ad Campaign for Smart Wallet; Follow-up to 'Show us Your Wallet' Consumer ContestMove over old Bulky Wallets: Smart Money Chooses Smart Wallets

    SHELTON, Conn., Aug. 1, 2014 /PRNewswire/ -- NXT-ID, Inc., (OTCQB: NXTD) a biometric authentication company focused on the growing m-commerce market, announces its upcoming celebrity "Wocket in Your Pocket" celebrity ad campaign to commence following the official closing of the currently running "Show Us Your Wallet" consumer contest.

    Well-known celebrities will be photographed on location with the first Wockets in their Pockets. Famous actors, producers, directors and musical artists will show their fans on social media how they are replacing their old wallets with a high-tech biometrically secure smart wallet.

    The celebrity online and social media ad campaign follows on the theme of the consumer contest; the old bulky wallet has seen its day!

    The currently running Wocket smart wallet Facebook photo contest invites participants to send in images of their aging, ugly, overstuffed and over-used wallets. Participant photos can be viewed at http://www.facebook.com/wocketwallet.

    The Wocket team will choose the best photo examples of outdated wallets to win one of 10 Signature Series Wocket smart wallets and $150 MasterCard gift card prize pack. The competition closes August 17, 2014.

    To get involved now, enter on:
    Facebook: http://www.facebook.com/wocketwallet
    OR direct link http://www.woobox.com/nhnpes.
    Twitter: Tweet your wallet photo with hashtag #needawocket
    Instagram: Share your wallet photo with hashtag #needawocket

    See the Wocket Facebook page for more details http://www.facebook.com/wocketwallet.

    Wocket(TM) is a smart wallet, the next evolution following the smart phone and smart watch. NXT-ID is introducing its innovative, patent-pending Wocket(TM) as the next natural step in the evolution of smart devices. Wocket(TM) is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.

    Credit, debit, ATM, loyalty, gift, ID, membership, insurance, ticket, emergency, medical, business, contacts, coupon, and virtually any card can be protected on Wocket(TM). More than 10,000 cards, records, coupons, etc. and 100 voice commands can also be stored on Wocket(TM).

    Wocket(TM) is now available for advance ordering at www.wocketwallet.com at a price of $149.99.

    The full Wocket product FAQ is available to consumers and media at
    http://nxt-id.com/wocket-faq/

    About NXT- ID Inc. - Mobile Security for a Mobile World
    NXT-ID, Inc.'s (OTCQB: NXTD) innovative MobileBio(TM) solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio(TM) suite of biometric solutions that secure consumers' mobile platforms led by the Wocket(TM); a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com/

    NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/

    Forward-Looking Statements for NXT-ID
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

    Contact:
    Corporate info: info@nxt-id.com

    Investor Inquiries:
    Kirin Smith
    ProActive Capital Group
    Direct: 646 863 6519
    ksmith@proactivecapital.com

    Media: 800 665-0411

    NXT-ID, Inc.

    Web site: http://www.nxt-id.com/




    More Than 3,000 Moms Will Join TheBump.com Boob-olution And Breastfeed In Public Today-- Events in New York City, Los Angeles, Chicago, Dallas, San Diego, South Florida and Denver Will Host Public Breastfeeding Meet Ups on August 1 --

    NEW YORK, Aug. 1, 2014 /PRNewswire/ -- In support of National Breastfeeding Awareness Month in August, and to empower moms to show the world it's their right to breastfeed baby whenever and wherever they need to, TheBump.com, a modern women's pregnancy and parenting website, announces the third-annual Boob-olution event.

    http://photos.prnewswire.com/prnvar/20140801/132488

    More than 3,000 moms on TheBump.com have already promised to join the Boob-olution, exclusively sponsored by The Boppy Company, by breastfeeding outside the privacy of their own homes on August 1, 2014, the official Boob-olution Day--and the number continues to grow. Moms are posting their pride on Facebook, Twitter and Instagram with the hashtag #boobolution and are also encouraging fellow moms to join the cause.

    "Breastfeeding shouldn't be a scary, nerve-racking thing for moms to do in public," said Carley Roney, cofounder of TheBump.com. "The fact that 46 states, the District of Columbia and the US Virgin Islands have had to make laws specifically allowing moms to breastfeed in public shows we've got a lot of work to do. Our hope with this campaign is to help put an end to the shaming so many moms have experienced in stores, restaurants and airplanes when asked to stop feeding their child, cover up and/or leave. We want each breastfeeding mom across the country to feel overwhelming support and empowerment to nurse her baby wherever she chooses."

    To make it even easier and more fun for moms to nurse in public on August 1, TheBump.com has partnered with local retailers in New York City, Los Angeles, Chicago, Dallas, South Florida, San Diego and Denver to provide a place for moms and babies to meet up and eat up. Moms in these cities are encouraged to stop by the following local events to meet other moms, get advice from a lactation consultant and show their breastfeeding pride:

    Yummy Mummy
    1201 Lexington Avenue (between 81(st) and 82(nd) streets)
    New York, NY 10028
    12 p.m. - 3 p.m.

    Little Beans Cafe
    1809 W. Webster
    Chicago, IL 60614
    10 a.m. - 12 p.m.

    Oh Baby Ultrasound Studio
    401 Northlake Blvd., Ste. 7
    North Palm Beach, FL 33408
    10 a.m. - 12 p.m.

    Naturally Loved
    2895A Fairfax Street
    Denver, CO 80207
    10 a.m. - 12 p.m.

    Ollie & Me
    2965 State Street
    Carlsbad, CA 92008
    10 a.m. - 12 p.m.

    Nappy Shoppe
    3253 Independence Parkway
    Plano, TX 75075
    10 a.m. - 12 p.m.

    The Pump Station & Nurtury Santa Monica
    2415 Wilshire Blvd
    Santa Monica, CA 90403
    1 p.m. - 3 p.m.

    The Pump Station & Nurtury Hollywood
    1248 Vine Street
    Hollywood, CA 90038
    10 a.m. - 12 p.m.

    YogaWorks Tarzana
    18700 Ventura Blvd #210
    Tarzana, CA 91356
    1 p.m. - 3 p.m.

    YogaWorks South Bay
    740 S. Allied Way
    El Segundo, CA 90245
    3 p.m. - 5 p.m.

    YogaWorks Pasadena
    277 W. Green Street
    Pasadena, CA 91105
    1:30 p.m. - 3:30 p.m.

    The Play Destination
    28501 Canwood Street
    Agoura Hills, CA 91301
    10 a.m. - 12 p.m.

    Can't make it in person? Join in on social media!
    Moms who breastfeed in public, tweet @thebump with the hashtag #boobolution and share where they're feeding on August 1 will be entered for a chance to win big. One lucky mom will win a gift bag filled with breastfeeding essentials from Boppy, including an original nursing pillow, luxe nursing pillow, travel nursing pillow, nursing cover and nursing pillow plush slipcover. Four runners-up will receive an original Boppy pillow.

    The first 30 moms to arrive at each Boob-olution in-person event will receive a gift bag full of must-haves from Boppy, Medela, pediped, Baby Legs and more.

    In addition to TheBump.com Boob-olution campaign, the site offers breastfeeding resources, online events and information at TheBump.com/breastfeeding, including:

    --  Ta-Ta Tuesdays With Lactation Consultants: Ta-tas, boobies, knockers--we
    know you've got questions about them and breastfeeding. Good news: We've
    got answers! Each Tuesday in August, moms can chat for free with a
    lactation consultant from 1 p.m. to 3 p.m. ET about all their
    breastfeeding questions and concerns. Each participant will be entered
    for a chance to win a Baby K'tan prize pack, Ingrid & Isabel nursing bra
    and a slipcovered nursing pillow and toy prize pack from Boppy. Here's
    TheBump.com "Ta-Ta Tuesday" lineup:
    --  August 5: Getting Prepped for Breastfeeding
    --  August 12: Latches and Positioning
    --  August 19: Breastfeeding a Newborn and Older Baby
    --  August 26: Breastfeeding Problems
    --  Celebrity Mom Breastfeeding Stories: Celebs breastfeed their babies and
    are proud of it too! Alyssa Milano, Tia and Tamera Mowry, Tracy
    Anderson, Ali Landry and Melissa Joan Hart are among the celebrity
    profiles featured on TheBump.com/boobolution with real breastfeeding
    stories and star-studded mama advice.
    --  More Than 3,000 Breastfeeding Articles: To help moms answer all the
    questions running through their minds, TheBump.com has compiled more
    than 3,000 breastfeeding articles, along with lists of the top 10
    breastfeeding benefits and the hilarious places moms have breastfed.
    --  Informative Breastfeeding Videos: Sometimes you just need a visual!
    TheBump.com offers a variety of informative how-to breastfeeding videos,
    including Tips for Breastfeeding in Public, Breast Milk Storage 101,
    Increasing Your Breast Milk Supply and Is Baby Eating Enough During
    Breastfeeding?
    --  Largest Breastfeeding Online Community: TheBump.com has one of the
    largest online communities of breastfeeding moms, who share tips,
    personal advice and support on the topic, 24/7.
    

    About TheBump.com
    The Bump is the only multiplatform resource giving first-time moms the inside scoop on fertility, pregnancy and new mommyhood, reaching millions of moms each year through TheBump.com, The Bump local guide and The Bump Pregnancy app. The Bump editorial team, "born" from The Knot, provides new moms stage-by-stage advice, stylish ideas, local resources, interactive tools and a savvy online community who is obsessed with knowing about everything baby. The Bump is a part of XO Group Inc. , the premier consumer internet and media company devoted to weddings, pregnancy and everything in between. Follow The Bump on Twitter @thebump.

    Contact:
    Melissa Bach
    Senior Public Relations Manager
    TheBump.com
    (212) 515-3594
    mbach@xogrp.com

    Logo - http://photos.prnewswire.com/prnh/20140801/132488

    Photo: http://photos.prnewswire.com/prnh/20140801/132488 TheBump.com

    Web site: http://www.thebump.com/




    API Technologies Wins New $3.0 Million Order for Secure Wireless Communication Systems

    ORLANDO, Fla., Aug. 1, 2014 /PRNewswire/ -- API Technologies Corp. ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today the receipt of a $3.0 million order for secure, wireless communication systems from a Fortune 50 company. The Company-manufactured, high-reliability electronic systems will be used in support of U.S. Department of Defense C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance) initiatives.

    No additional information is available due to the secure nature of this program.

    http://photos.prnewswire.com/prnvar/20110629/NY28451LOGO

    About API Technologies Corp.
    API Technologies is an innovative designer and manufacturer of high performance systems, subsystems, modules, and components for technically demanding RF, microwave, millimeter wave, electromagnetic, power, and security applications. A high-reliability technology pioneer with over 70 years of heritage, API Technologies products are used by global defense, industrial, and commercial customers in the areas of commercial aerospace, wireless communications, medical, oil and gas, electronic warfare, unmanned systems, C4ISR, missile defense, harsh environments, satellites, and space. Learn more about API Technologies and our products 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.

    Contact:
    Tara Flynn Condon
    Vice President, Corporate Development & Marketing
    +1 908-546-3903

    Logo - http://photos.prnewswire.com/prnh/20110629/NY28451LOGO

    Photo: http://photos.prnewswire.com/prnh/20110629/NY28451LOGO API Technologies Corp.

    Web site: http://www.apitechnologies.com/




    Abtech Holdings Schedules Conference Call to Present Second Quarter 2014 Financial Results

    SCOTTSDALE, Ariz., Aug. 1, 2014 /PRNewswire/ -- Abtech Holdings, Inc. ("AbTech" or the "Company"), a full-service environmental technologies and engineering firm dedicated to providing innovative solutions to communities, industry and governments addressing issues of water pollution and contamination, today announced that it has scheduled a conference call for Thursday, August 14, 2014 at 1:00 p.m. (ET) to discuss the Company's financial results for its second quarter ended June 30, 2014 and provide an update on its business initiatives. AbTech intends to issue its financial results after the market close on Wednesday, August 13, 2014.

    Conference Call Details: Date/Time: Thursday, August 14, 2014 - 1:00 p.m. (ET) Telephone Number: 877-870-4263 International Dial-In Number: 412-317-0790 Canada Dial-In Number: 855-669-9657 InternetAccess: http://www.videonewswire.com/event.asp?id=100219 or www.abtechindustries.com and https://twitter.com/AbTech_Ind

    It is recommended that participants phone-in at least 15 minutes before the call is scheduled to begin. A replay of the conference call in its entirety will be available approximately one hour after its completion via the Internet Access link above.

    ABOUT ABTECH HOLDINGS, INC. AND ABTECH INDUSTRIES, INC.

    AbTech Industries, Inc. (a subsidiary of AbTech Holdings Inc.) is a full-service environmental technologies and engineering firm dedicated to providing innovative solutions to communities, industry and governments addressing issues of water pollution and contamination. Its products are based on polymer technologies capable of removing hydrocarbons, sediment and other foreign elements in stormwater runoff (ponds, lakes and marinas), flowing water (curbside drains, pipe outflows, rivers and oceans), and industrial process and wastewater. AbTech's offerings include the ground-breaking new antimicrobial technology called Smart Sponge(R) Plus. This technology is effective in reducing coliform bacteria found in stormwater, industrial wastewater, and municipal wastewater. Smart Sponge(R) Plus is registered with the Environmental Protection Agency (Registration #86256-1). AbTech's teams of water treatment technology experts, civil and environmental engineers, and field operations specialists develop solutions to improve the quality of our limited water resources. AEWS Engineering (a subsidiary of Abtech Holdings, Inc.), is an independent engineering civil and environmental engineering firm partnered with top research and engineering universities. By focusing on bringing new engineering and technology innovation to the water infrastructure sector, AEWS is positioned to be at the forefront of stormwater Best Management Practices development and to deliver the latest in design excellence to its customers. For more information please visit www.abtechindustries.com. More information on AEWS Engineering can be found at www.aewsengineering.com.

    This news release contains "forward-looking statements" which are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

    Abtech Holdings, Inc.

    CONTACT: Investor, Yvonne L. Zappulla, Managing Director, Grannus
    Financial Advisors, Inc., 212-681-4108, Yvonne@GrannusFinancial.com or Lane
    J. Castleton, Chief Financial Officer, Abtech Holdings, Inc., 480-874-4000,
    lcastleton@abtechindustries.com

    Web site: http://www.abtechindustries.com/




    Reflexis Chooses IBM Cloud Infrastructure To Power Retail Cloud Offering

    ARMONK, N.Y., Aug. 1, 2014 /PRNewswire/ -- IBM today announced that Reflexis, a leader in integrated real-time execution and workforce management solutions, has selected SoftLayer, an IBM company, to help customers in the retail industry make the transition to cloud computing. Reflexis is looking to transform the retail industry by providing customers with its own platform-as-a-service (PaaS) based on SoftLayer's infrastructure, to help them implement mobile and Web applications.

    http://photos.prnewswire.com/prnvar/20090416/IBMLOGO

    The retail industry is experiencing an increased demand for cloud applications which satisfy unique business needs and requirements, while alleviating IT security concerns and reducing management complexity. Reflexis has seen a parallel increase in their own customers seeking PaaS, with demand increasing nearly 40 percent in the past year.

    To deliver this successfully, Reflexis looked to SoftLayer to provide the infrastructure needed to create its cloud-based platform offering. Using Reflexis' PaaS, customers can easily implement mobile and web applications which help retailers achieve operational excellence, provide a seamless online-to-store shopping experience, and provide a higher quality of customer engagement.

    All solutions including Reflexis StorePulse(TM) real-time execution software, Reflexis Workforce Manager(TM) (budgeting, forecasting, labor scheduling, and employee self-service), Reflexis Task Manager(TM), Reflexis StoreWalk(TM) (compliance and auditing), and Reflexis Time and Attendance(TM), are hosted on SoftLayer and available via a cloud delivery model.

    "IBM is focused on providing higher value and delivering unmatched expertise and capabilities to help clients tackle business specific challenges with cloud," said Prashanth Palakurthi, CEO and founder of Reflexis. "As adoption of cloud delivery models for enterprise software implementations increases, CIOs require a secure and scalable hosting services provider. Through the SoftLayer cloud, Reflexis customers can now have a best-in-class hosting service provider platform that will provide the highest possible security, and enable CIOs to focus more time on their business."

    SoftLayer provides high-performance, enterprise cloud infrastructure that scales to meet complex client needs and requirements. IBM offers a wide set of cloud capabilities including private, public and hybrid clouds and infrastructure-as-a-service, as well as PaaS and software-as-a-service (SaaS) solutions. IBM cloud solutions help customers better respond to today's fast-moving and ever-changing business environment by enabling them to mine data while protecting their privacy and security, easily managing and securing data and apps where they reside and quickly integrating existing and new services and data to drive new innovations.

    "Reflexis is the latest in a string of partners that are turning to IBM to help deliver robust solutions in the cloud," said Sandy Carter, General Manager, Ecosystem Development, IBM. "In the new age of application development, companies need to quickly build and deploy applications and need the proper infrastructure to support it. Our long standing history of responding to client needs and shifting markets, combined with our unique ability to provide a variety of services and cloud capabilities, allows Reflexis to provide a platform in which customers can create unique offerings for its customers."

    One year ago, IBM made a strategic acquisition of SoftLayer for $2 billion. Since July 2013, SoftLayer has flourished as the foundation of IBM's cloud computing business by winning clients, attracting new partners, expanding IBM's cloud footprint and driving new innovations. Since the acquisition, SoftLayer has attracted 6,000 new customers as part of IBM, doubling its previous rate of new business generation. In 2013, IBM generated $4.4 billion in cloud revenue.

    IBM's 5,000 mobile experts have been at the forefront of mobile enterprise innovation. IBM has secured more than 4,300 patents in mobile, social and security, which have been incorporated into IBM MobileFirst solutions that enable enterprise clients to radically streamline and accelerate mobile adoption, and help organizations engage more people and capture new markets. With alliances like Apple, IBM is unlocking the full potential of enterprise mobility across industries.

    About IBM Cloud Computing
    IBM has helped more than 30,000 clients around the world with 40,000 industry experts. Since its acquisition in 2013, IBM SoftLayer has served 6,000 new cloud clients. Today, IBM has 100+ cloud SaaS solutions, thousands of experts with deep industry knowledge helping clients transform and a network of 40 data centers worldwide. Since 2007, IBM has invested more than $7 billion in 17 acquisitions to accelerate its cloud initiatives and build a high value cloud portfolio. IBM holds 1,560 cloud patents focused on driving innovation. In fact, IBM for the 21st consecutive year topped the annual list of US patent leaders. IBM processes more than 5.5M client transactions daily through IBM's public cloud. For more information about cloud offerings from IBM, visit http://www.ibm.com/cloud. Follow us on Twitter at @IBMcloud and on our blog at http://www.thoughtsoncloud.com. Join the conversation #ibmcloud.

    About Reflexis
    Reflexis is the pioneer in real-time store execution and workforce management solutions that enable retailers to execute their customer engagement strategy flawlessly and uncover profit. The Reflexis platform of real-time store execution, task management, KPI/compliance, time and attendance, and labor scheduling (including budgeting, forecasting, and employee self-service) enables retailers to align store labor/activities to corporate goals and institutionalize best-practice response to real-time metrics and alerts.

    For the past 12 years, more than 200 of the world's best retailers in multiple vertical categories have reported dramatic improvements in store-level compliance with corporate strategies; higher productivity of corporate, field, and store employees; and increased revenue and profitability after implementing Reflexis workforce management solutions. Reflexis StorePulse(TM) (patent pending) synchronizes store-level activities with real-time KPIs, alerts, and customer demand. Stores can systemically execute best practices to provide a greater quality of customer engagement, leading to higher revenues.

    Reflexis Systems, Inc. is privately held and headquartered in Dedham, Massachusetts and has offices in Atlanta, London, the Netherlands, and India. For more information, visit www.reflexisinc.com. Follow Reflexis on LinkedIn, Facebook, Twitter, YouTube, Google+, and Instagram.

    Contact:
    Erin Lehr
    (832) 766-7625
    edlehr@us.ibm.com

    Logo- http://photos.prnewswire.com/prnh/20090416/IBMLOGO

    Photo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO IBM

    Web site: http://www.ibm.com/




    OM Group Announces Second Quarter 2014 Financial Results And Share Repurchases

    CLEVELAND, Aug. 1, 2014 /PRNewswire/ -- OM Group, Inc. today announced financial results for the three months ended June 30, 2014. For the quarter, the Company reported adjusted pro forma EBITDA of $31 million, excluding the results of its divested Advanced Materials cobalt business and charges of $0.4 million related to cost-reduction actions. The Company also reported second quarter 2014 income from continuing operations of $0.16 per diluted share, or $0.28 per diluted share on an adjusted pro forma basis, and operating cash flows of $24 million. At June 30, 2014, the Company had $114 million of cash and no debt. Reconciliations of the Company's adjusted pro forma results to corresponding U.S. GAAP results are included in this press release.

    During the quarter, the Company repurchased $10 million of its common shares. In 2013, the Company's Board of Directors authorized a share repurchase program of up to $50 million. Including $14 million of share repurchases in 2013, the Company has now returned a total of $24 million to shareholders under this program; at June 30, 2014, $26 million of availability remained under the authorization.

    "In the second quarter we delivered impressive cash flow from operations, which supported recent share repurchases and the quarterly dividend we initiated this year," said Joe Scaminace, Chairman and Chief Executive Officer of OM Group, Inc. "Sales and EBITDA increased over last year's second quarter and were higher sequentially from this year's first quarter. However, business conditions are not developing as we expected."

    Second quarter net sales were $298 million, or $254 million on a pro forma basis excluding the divested Advanced Materials business. Excluding Advanced Materials, sales were up slightly compared to the second quarter of 2013. Sales were higher in Magnetic Technologies due primarily to a stronger Euro versus the US Dollar and increased sales volumes, offset by lower rare earth price pass-throughs to customers. Battery Technologies net sales increased compared to the second quarter of 2013 due to increased sales volumes in medical applications. Sales in Specialty Chemicals were down compared to the second quarter of 2013 due to lower sales volumes, partly resulting from the Company's initiatives to focus on more-profitable products.

    "We remain confident in the potential of our portfolio of businesses," said Mr. Scaminace. "However, it is clear that we need to take action to stay ahead of the pace of change in our key end markets. European business conditions are not developing as expected, our growth initiatives are taking longer than expected to contribute to our results, and global electronics markets have been slower to recover than planned. As a result, we are reducing our near-term forecasts and taking actions to strengthen our operating capabilities and improve business performance."

    The Company recently implemented leadership changes in its Magnetic Technologies business, as well as in its Electronic Chemicals and Advanced Organics product lines. Concurrently, the Company also began developing initiatives to improve business results across the enterprise. The immediate phase of these actions is expected to cost approximately $5-6 million and contribute savings of $3-4 million annually beginning in 2015.

    In light of the factors noted above, the Company is now expecting approximately $120 million of adjusted pro forma EBITDA in 2014. This forecast excludes the results of the divested Advanced Materials business, costs related to business improvement initiatives and M&A.

    Mr. Scaminace concluded, "Our long-term strategy to create shareholder value remains intact. Our operating capabilities, supported by our strengthened business leadership, continue to improve, our acquisition pipeline of complementary transactions is active, and we have ample financial resources to execute our strategy."

    Webcast Information

    OM Group has scheduled a conference call and live audio broadcast on the Web for 10 AM EDT today. Investors may access the live audio broadcast by logging on to http://investor.omgi.com. A copy of management's presentation materials will be available on OM Group's website before the call. The company recommends visiting the website at least 15 minutes prior to the webcast to download and install any necessary software. A webcast audio replay will be available on the "Investor Relations - Webcasts" page of the company's website three hours after the call.

    About OM Group

    OM Group is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace, industrial and renewable energy. Its business platforms use innovation and technology to address customers' complex applications and demanding requirements. For more information, visit the Company's website at www.omgi.com.

    Forward-Looking Statements

    The foregoing discussion may include forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon specific assumptions and are subject to uncertainties and factors relating to the company's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the company. These uncertainties and factors could cause actual results of the company to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. Such uncertainties and factors include: uncertainty in worldwide economic conditions; extended business interruption at our facilities; fluctuations in the price and uncertainties in the supply of rare earth materials and other raw materials; our ability to identify, complete and integrate acquisitions aligned with our strategy; changes in effective tax rates or adverse outcomes resulting from examination of our income tax returns; the majority of our operations are outside the United States, which subjects us to risks that may adversely affect our operating results; level of returns on pension plan assets and changes in the actuarial assumptions; the majority of our cash is generated and held outside the United States; the timing and amount of common share repurchases, if any; fluctuations in foreign exchange rates; unanticipated costs or liabilities for compliance with environmental regulation; changes in environmental, health and safety regulatory requirements; technological changes in our industry or in our customers' products; our ability to adequately protect or enforce our intellectual property rights; disruption of our relationship with key customers or any material adverse change in their businesses; successful execution of the GTL supply agreement signed in connection with the Advanced Materials sale; and the risk factors set forth in Part 1, Item 1a of our Annual Report on Form 10-K for the year ended December 31, 2013.

    OM Group, Inc. and Subsidiaries Unaudited Condensed Consolidated Balance Sheets June 30, 2014 December 31, 2013 ------------- ------------ (in millions) ASSETS Current assets Cash and cash equivalents $114.3 $118.4 Accounts receivable, net 170.5 150.7 Inventories 243.8 240.9 Other current assets 19.4 32.3 ---- ---- Total current assets 548.0 542.3 Property, plant and equipment, net 328.6 345.6 Goodwill 431.6 432.7 Intangible assets, net 388.6 403.0 Other non-current assets 58.5 59.5 Total assets $1,755.3 $1,783.1 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $87.3 $93.6 Accrued employee costs 35.4 36.2 Purchase price of VAC payable to seller 52.6 52.5 Other current liabilities 54.3 63.4 ---- ---- Total current liabilities 229.6 245.7 Deferred income taxes 101.3 102.5 Pension liabilities 218.4 220.5 Purchase price of VAC payable to seller 11.3 11.3 Other non-current liabilities 38.7 43.3 Total equity 1,156.0 1,159.8 ------- Total liabilities and equity $1,755.3 $1,783.1 ======== ======== Certain financial data may have been rounded. As a result of such rounding, the totals of data presented in this document may vary slightly from the actual arithmetical totals of such data.

    OM Group, Inc. and Subsidiaries Unaudited Condensed Consolidated Statements of Operations (in millions, except per share data) Three Months Ended Six Months Ended June 30, June 30, -------- -------- 2014 2013 2014 2013 ---- ---- ---- ---- Net sales $297.5 $279.4 $559.2 $621.1 Cost of goods sold 234.4 215.6 434.2 483.1 ----- ----- ----- ----- Gross profit 63.1 63.8 125.0 138.0 Selling, general and administrative expenses 53.2 54.6 106.6 114.7 ---- ---- ----- ----- Operating profit 9.9 9.2 18.4 23.3 Other expense: Interest expense (0.6) (1.8) (1.3) (9.5) Foreign exchange (loss) gain (0.9) 2.8 (1.2) 0.2 Loss on divestiture of Advanced Materials business (0.8) (0.5) (1.0) (112.1) Other, net (0.7) 0.3 (1.4) (0.3) ---- --- ---- ---- Income (loss) from continuing operations before income tax expense 6.9 10.0 13.5 (98.4) Income tax expense 1.8 1.9 3.1 4.5 --- --- --- --- Income (loss) from continuing operations, net of tax 5.1 8.1 10.4 (102.9) Loss from discontinued operations, net of tax (0.3) (11.4) (0.3) (11.9) ---- ----- ---- ----- Consolidated net income (loss) 4.8 (3.3) 10.1 (114.8) Net loss attributable to noncontrolling interests - - - 1.7 --- --- Net income (loss) attributable to OM Group, Inc. common $4.8 $(3.3) $10.1 $(113.1) stockholders Earnings (loss) per common share - basic: Income (loss) from continuing operations attributable to OM $0.16 $0.26 $0.33 $(3.19) Group, Inc. common stockholders Loss from discontinued operations attributable to OM Group, (0.01) (0.37) (0.01) (0.38) Inc. common stockholders Net income (loss) attributable to OM Group, Inc. common stockholders $0.15 $(0.11) $0.32 $(3.57) ===== ====== ===== ====== Earnings (loss) per common share - assuming dilution: Income (loss) from continuing operations attributable to OM Group, Inc. common stockholders $0.16 $0.26 $0.33 $(3.19) Loss from discontinued operations attributable to OM Group, Inc. common stockholders (0.01) (0.37) (0.02) (0.38) ----- ----- ----- ----- Net income (loss) attributable to OM Group, Inc. common stockholders $0.15 $(0.11) $0.31 $(3.57) ===== ====== ===== ====== Weighted average shares outstanding Basic 31.5 31.5 31.5 31.7 Assuming dilution 31.8 31.6 31.9 31.7 Dividends declared per common share $0.075 $ - $0.15 $ - ====== === === ===== === === Amounts attributable to OM Group, Inc. common stockholders: Income (loss) from continuing operations, net of tax $5.1 $8.1 $10.4 $(101.2) Loss from discontinued operations, net of tax (0.3) (11.4) (0.3) (11.9) ---- ----- Net income (loss) $4.8 $(3.3) $10.1 $(113.1) ==== ===== ===== =======

    OM Group, Inc. and Subsidiaries Unaudited Condensed Consolidated Statements of Cash Flows Three Months Ended Six Months Ended June 30, June 30, -------- -------- (in millions) 2014 2013 2014 2013 ---- ---- ---- ---- Operating activities Consolidated net income (loss) $4.8 $(3.3) $10.1 $(114.8) Adjustments to reconcile consolidated net income (loss) to net cash used for operating activities: Loss from discontinued operations 0.3 11.4 0.3 11.9 Depreciation and amortization 18.3 16.6 36.4 38.1 Amortization of deferred financing fees 0.3 1.0 0.5 2.0 Share-based compensation expense 1.8 1.6 4.4 3.2 Foreign exchange loss (gain) 0.9 (2.8) 1.2 (0.2) Loss on divestiture of Advanced Materials business 0.8 0.5 1.0 112.1 Other non-cash items 1.0 (2.9) 1.2 5.8 Changes in operating assets and liabilities, excluding the effect of divestitures: Accounts receivable (19.5) (7.7) (20.3) (34.7) Inventories (0.5) 16.3 (4.5) 16.8 Accounts payable 14.8 7.6 (6.1) 1.6 Accrued tax (1.8) (14.7) (2.6) (23.9) Other, net 3.3 (12.4) 0.2 (24.7) --- ----- --- ----- Net cash provided by (used for) operating activities 24.5 11.2 21.8 (6.8) Investing activities Expenditures for property, plant and equipment (7.6) (8.7) (10.8) (21.3) Proceeds from divestiture of Advanced Materials business - - - 302.1 Proceeds from divestiture of UPC business - 63.3 - 63.3 Proceeds from sale of property 1.0 - 1.0 - --- --- Net cash (used for) provided by investing activities (6.6) 54.6 (9.8) 344.1 Financing activities Payments of long-term debt - (92.5) - (466.5) Dividends paid (2.4) (4.8) - Proceeds from exercise of stock options - 1.0 0.5 1.0 Debt issuance costs - - (0.1) - Payment related to surrendered shares - - (0.7) (0.6) Share repurchases (10.0) (9.1) (10.0) (14.1) ----- ---- ----- ----- Net cash used for financing activities (12.4) (100.6) (15.1) (480.2) Effect of exchange rate changes on cash (0.1) 0.6 (0.2) (1.4) ---- --- ---- ---- Cash and cash equivalents Decrease from continuing operations 5.4 (34.2) (3.3) (144.3) Discontinued operations - net cash provided by (used for) operating activities (0.7) 0.1 (0.8) (0.3) Discontinued operations - net cash used for investing activities - (0.5) - (2.4) --- ---- --- ---- Balance at the beginning of the period 109.6 115.2 118.4 227.6 ----- ----- ----- ----- Balance at the end of the period $114.3 $80.6 $114.3 $80.6 ====== ===== ====== =====

    OM Group, Inc. and Subsidiaries Unaudited Segment Information Three Months Ended June 30, Six Months Ended June 30, --------------------------- ------------------------- (in millions) 2014 2013 2014 2013 ---- ---- ---- ---- Net Sales Magnetic Technologies $130.9 $128.9 $260.1 $266.0 Battery Technologies 41.0 40.2 81.5 81.2 Specialty Chemicals (a) 81.9 83.4 158.8 160.7 Advanced Materials 43.7 26.9 58.8 113.3 Intersegment items - - - (0.1) --- --- --- ---- $297.5 $279.4 $559.2 $621.1 ====== ====== ====== ====== Operating profit (loss) Magnetic Technologies (b)(c) $3.2 $1.2 $8.9 $7.5 Battery Technologies (b)(c) 8.1 8.2 14.5 16.5 Specialty Chemicals (a)(b)(c) (d) 8.5 8.2 15.9 15.2 Advanced Materials (2.5) (0.4) (3.5) 1.4 Corporate (7.4) (8.0) (17.4) (17.3) $9.9 $9.2 $18.4 $23.3 ==== ==== ===== ===== (a) The 2013 results related to the UPC business are excluded from the Specialty Chemicals segment. (b) The three months ended June 30, 2013 include charges related to cost-reduction initiatives of $0.4 million in Magnetic Technologies, $0.5 million in Battery Technologies and $1.1 million in Specialty Chemicals. (c) The six months ended June 30, 2013 include charges related to cost-reduction initiatives of $4.2 million in Magnetic Technologies, $0.7 million in Battery Technologies and $1.1 million in Specialty Chemicals. (d) The three months and six ended June 30, 2014 include costs related to cost reduction initiatives of $0.4 million in Specialty Chemicals.

    OM Group, Inc. and Subsidiaries Unaudited Non-U.S. GAAP Financial Measures, Adjusted Operating Profit and Adjusted EBITDA Three Months Ended June 30, 2014 -------------------------------- (in millions) Magnetic Battery Specialty Corporate Subtotal Advanced Technologies Technologies Chemicals Materials Consolidated ------------- ------------- ---------- --------- -------- --------- ------------ Operating profit $3.2 $8.1 $8.5 $(7.4) $12.4 $(2.5) $9.9 (loss) - as reported Charges related to cost- reduction initiatives - - 0.4 - 0.4 - 0.4 --- --- --- --- --- --- --- Adjusted operating profit 3.2 8.1 8.9 (7.4) 12.8 (2.5) 10.3 Depreciation and amortization 11.9 2.6 3.5 0.3 18.3 - 18.3 Adjusted EBITDA $15.1 $10.7 $12.4 $(7.1) $31.1 $(2.5) $28.6 ===== ===== ===== ===== ===== ===== ===== Three Months Ended June 30, 2013 -------------------------------- (in millions) Magnetic Battery Specialty Corporate Subtotal Advanced Technologies Technologies Chemicals Materials Consolidated ------------- ------------- ---------- --------- -------- --------- ------------ Operating profit (loss) -as reported $1.2 $8.2 $8.2 $(8.0) $9.6 $(0.4) $9.2 Charges related to cost- reduction initiatives 0.4 0.5 1.1 - 2.0 - 2.0 --- --- --- --- --- --- --- Adjusted operating profit 1.6 8.7 9.3 (8.0) $11.6 (0.4) 11.2 Depreciation and amortization 10.7 2.5 3.6 0.1 16.9 (0.3) 16.6 Adjusted EBITDA $12.3 $11.2 $12.9 $(7.9) 28.5 $(0.7) $27.8 ===== ===== ===== ===== ==== ===== ===== Six Months Ended June 30, 2014 ------------------------------ Magnetic Battery Specialty Corporate Subtotal Advanced Technologies Technologies Chemicals Materials Consolidated ------------- ------------- ---------- --------- -------- --------- ------------ Operating profit (loss) -as reported $8.9 $14.5 $15.9 $(17.4) $21.9 $(3.5) $18.4 Charges related to cost- reduction - - 0.4 - 0.4 - 0.4 --- --- --- --- --- --- --- Adjusted operating profit 8.9 14.5 16.3 (17.4) 22.3 (3.5) 18.8 Depreciation and amortization 23.7 5.1 7.1 0.5 36.4 - 36.4 Adjusted EBITDA $32.6 $19.6 $23.4 $(16.9) $58.7 $(3.5) $55.2 ===== ===== ===== ====== ===== ===== ===== Six Months Ended June 30, 2013 ------------------------------ Magnetic Battery Specialty Corporate Subtotal Advanced Technologies Technologies Chemicals Materials Consolidated ------------- ------------- ---------- --------- -------- --------- ------------ Operating profit (loss) -as reported $7.5 $16.5 $15.2 $(17.3) $21.9 $1.4 $23.3 Charges related to cost- reduction 4.2 0.7 1.1 - 6.0 - 6.0 --- --- --- --- --- --- --- Adjusted operating profit 11.7 17.2 16.3 (17.3) 27.9 1.4 29.3 Depreciation and amortization 21.5 5.0 7.5 0.2 34.2 3.9 38.1 Adjusted EBITDA $33.2 $22.2 $23.8 $(17.1) $62.1 $5.3 $67.4 ===== ===== ===== ====== ===== ==== ===== In order to assist readers of our financial statements in understanding the operating results that the Company's management uses to evaluate the business, we are providing adjusted operating profit and adjusted EBITDA, both of which are non-U.S. GAAP financial measures. The Company's management believes that these are important metrics in evaluating the performance of the Company's business, providing a baseline for evaluating and comparing our operating results and isolating the impact of certain items on our results. The table above presents a reconciliation of the Company's U.S. GAAP operating profit - as reported to adjusted operating profit and adjusted EBITDA. The non-U.S. GAAP financial information set forth in the table above should not be construed as an alternative to reported results determined in accordance with U.S. GAAP.

    OM Group, Inc. and Subsidiaries Unaudited Non-U.S. GAAP Financial Measures Three Months Ended Three Months Ended June 30, 2014 June 30, 2013 ------------- ------------- (in millions, except per share data) $ Diluted EPS $ Diluted EPS --- ----------- --- ----------- Income from continuing operations attributable to OM Group, Inc. $5.1 $0.16 $8.1 $0.26 common stockholders - as reported Add (less): Loss on Advanced Materials divestiture 0.8 0.03 0.5 0.02 Charges related to cost-reduction initiatives 0.4 0.01 2.0 0.06 Acceleration of deferred financing fees - - 0.5 0.01 Tax effect of special items - - (0.3) (0.01) Adjusted income from continuing operations attributable to OM $6.3 $0.20 $10.8 $0.34 Group, Inc. common stockholders Exclude: Operating results from divested Advanced Materials (2.5) (0.08) (0.6) (0.02) business, net of tax Adjusted income from continuing operations attributable to OM $8.8 $0.28 $11.4 $0.36 Group, Inc. common stockholders - pro forma excluding Advanced Materials Weighted average shares outstanding - diluted 31.8 31.6 Six Months Ended Six Months Ended June 30, 2014 June 30, 2013 ------------- ------------- (in millions, except per share data) $ Diluted EPS $ Diluted EPS --- ----------- --- ----------- Income (loss) from continuing operations attributable to OM Group, $10.4 $0.33 $(101.2) $(3.17) Inc. common stockholders - as reported Add (less): Loss on Advanced Materials divestiture 1.0 0.03 112.1 3.52 Charges related to cost-reduction initiatives 0.4 0.01 6.0 0.19 Acceleration of deferred financing fees - - 0.5 0.01 Tax effect of special items - - (0.9) (0.03) Adjusted income from continuing operations attributable to OM $11.8 $0.37 $16.5 $0.52 Group, Inc. common stockholders Exclude: Operating results from divested Advanced Materials (3.6) (0.11) - - business, net of tax Adjusted income from continuing operations attributable to OM $15.4 $0.48 $16.5 $0.52 Group, Inc. common stockholders - pro forma excluding Advanced Materials Weighted average shares outstanding - diluted (a) 31.9 31.8 (a) For the six months ended June 30, 2013, because the reported loss from continuing operations is income on an adjusted basis, we used diluted shares to calculate EPS. In order to assist readers of our financial statements in understanding the operating results that the Company's management uses to evaluate the business, we are providing adjusted income from continuing operations attributable to OM Group, Inc. common stockholders and adjusted earnings per common share attributable to OM Group, Inc. common stockholders - assuming dilution, both of which are non-U.S. GAAP financial measures. We are also providing the amounts as pro forma adjusted to exclude the results of the divested Advanced Materials business. The Company's management believes that these are important metrics in evaluating the performance of the Company's business, providing a baseline for evaluating and comparing our operating results and isolating the impact of certain items on our results. The table above presents a reconciliation of the Company's U.S. GAAP income from continuing operations attributable to OM Group, Inc. common stockholders - as reported to adjusted income from continuing operations attributable to OM Group, Inc. common stockholders and earnings per common share attributable to OM Group, Inc. common stockholders - assuming dilution, adjusted for both special items as identified in the table and to exclude the results of the divested Advanced Materials business. The non-U.S. GAAP financial information set forth in the table above should not be construed as an alternative to reported results determined in accordance with U.S. GAAP.

    OM Group, Inc.

    CONTACT: Rob Pierce, Vice President, Finance, +1.216.263.7489

    Web site: http://www.omgi.com/




    TDS reports second quarter 2014 resultsU.S. Cellular provides 2014 financial guidance; TDS Telecom raises AIBIT guidanceAs previously announced, TDS will hold a teleconference Aug. 1, 2014 at 9:30 a.m. CDT. Interested parties may listen to the call live via the Events & Presentations page of investors.teldta.com.

    CHICAGO, Aug. 1, 2014 /PRNewswire/ -- Telephone and Data Systems, Inc. reported total operating revenues of $1,236.4 million for the second quarter of 2014, versus $1,228.2 million for the comparable period one year ago. Net income (loss) attributable to TDS shareholders and related diluted earnings (loss) per share were $(22.0) million and $(0.20) respectively, for the second quarter of 2014, compared to $156.1 million and $1.42, respectively, in the comparable period one year ago. Year-over-year comparisons are affected by U.S. Cellular's divestiture transaction and acquisitions at TDS Telecom, in 2013.

    "Our businesses were productive in the second quarter. We're seeing positive results from strategic growth initiatives we've implemented over the last few years," said LeRoy T. Carlson, Jr., TDS president and CEO.

    "U.S. Cellular generated strong gross customer additions and significantly reduced postpaid churn in the quarter, leading to net postpaid customer growth in June. Our high-quality 4G LTE network, competitive service plans, devices, pricing and our new equipment installment plans helped drive smartphone penetration to 55 percent, which increased data usage and helped us achieve higher average revenue per postpaid customer.

    "TDS Telecom posted another solid quarter of earnings and revenue growth, fueled by residential TDS TV customer additions, broadband speed upgrades, and commercial managedIP connections, and by realizing significant cost reductions. We continue to be excited about the growth potential in our cable business. At Baja Broadband, we are working to improve our video offerings and increase broadband penetration. We also are focused on ensuring a smooth completion to our BendBroadband acquisition in the third quarter. In our hosted and managed services business, OneNeck IT Solutions, we increased revenues through growth in recurring services and through the effect of acquisitions."

    2014 Estimated Results
    Estimates of full-year 2014 results for U.S. Cellular, TDS Telecom and TDS are shown below. Such estimates represent management's view as of August 1, 2014. Such forward-looking statements should not be assumed to be current as of any future date. TDS undertakes no duty to update such information, whether as a result of new information, future events or otherwise. There can be no assurance that final results will not differ materially from such estimated results.


    2014 Estimated Results ---------------------- U.S. Cellular TDS Telecom (1) TDS (1)(3) ------------- -------------- --------- Current Previous Current Previous Current Previous ------- -------- ------- -------- ------- -------- (Dollars in millions) Total operating revenues $3,900-$4,000 N/A $1,050-$1,100 Unchanged $4,970-$5,120 N/A Adjusted income before income taxes (2) $350-$450 N/A $260-$290 $250-$280 $605-$735 N/A Capital expenditures $640 Unchanged $200 Unchanged $850 N/A

    (1) These estimates do not reflect the effects of the acquisition of BendBroadband. (2) Adjusted income before income taxes is defined as income before income taxes, adjusted for the items set forth in the reconciliation below. Adjusted income before income taxes excludes these items in order to show operating results on a more comparable basis from period to period. From time to time, TDS may exclude other items from adjusted income before income taxes if such items help reflect operating results on a more comparable basis. TDS does not intend to imply that any such items that are excluded are non- recurring, infrequent or unusual; such items may occur in the future. Adjusted income before income taxes is not a measure of financial performance under Generally Accepted Accounting Principles in the United States ("GAAP") and should not be considered as an alternative to income before income taxes as an indicator of the company's operating performance or as an alternative to cash flows from operating activities, determined in accordance with GAAP, as an indicator of cash flows or as a measure of liquidity. TDS believes adjusted income before income taxes is a useful measure of TDS' operating results before significant recurring non-cash charges, discrete gains and losses, and financing charges (interest expense). The following tables provide a reconciliation of income before income taxes to adjusted income before income taxes for 2014 estimated results, six months ended June 30, 2014 actual results, and year ended December 31, 2013 actual results:

    2014 Estimated Results ---------------------- U.S. Cellular TDS Telecom (1) TDS (1)(3) ------------- -------------- --------- (Dollars in millions) Income (loss) before income taxes ($189)-($89) $35-$65 ($249)-($119) Depreciation, amortization and accretion $630 $225 $865 (Gain) loss on sale of business and other exit costs, net ($50) ? ($25) (Gain) loss on license sales and exchanges ($91) ? ($91) Interest expense $50 ? $105 Adjusted income before income taxes $350-$450 $260-$290 $605-$735 ========= ========= =========

    Actual Results -------------- Six months ended June 30, 2014 Year ended December 31, 2013 ------------------------------ ---------------------------- U.S. Cellular TDS TDS (3) U.S. Cellular TDS TDS (3) Telecom Telecom ------- ------- (Dollars in millions) Income (loss) before income taxes $1 $39 ($7) $258 $49 $293 Depreciation, amortization and $316 $107 $429 $804 $203 $1,018 accretion expense (Gain) loss on sale of business and other exit costs, net ($17) - ($4) ($247) - ($301) (Gain) loss on license sales and exchanges ($91) - ($91) ($255) - ($255) (Gain) loss on investments - - - ($19) ($1) ($15) Interest expense $29 ($1) $56 $44 ($2) $99 --- --- --- --- --- --- Adjusted income before income taxes $238 $145 $383 $585 $249 $839 ==== ==== ==== ==== ==== ====

    (3) The TDS column includes U.S. Cellular, TDS Telecom and also the impacts of consolidating eliminations, corporate operations and non-reportable segments, all of which are not presented above.

    Stock Repurchase Summary
    TDS began repurchasing stock under its $250 million repurchase authorization on Aug. 5, 2013. The following represents repurchases of TDS Common Shares.

    Repurchase Period # Shares Cost (in millions) ----------------- -------- --------- 2014 (second quarter) 650,628 $17.3 2014 (first quarter) 157,891 $3.8 2013 (full year) 338,851 $9.7 ------- ---- Total 1,147,370 $30.8 ========= =====

    Conference Call Information
    TDS will hold a conference call on Aug. 1, 2014 at 9:30 a.m. CDT.

    --  Access the live call on the Events & Presentations page of
    investors.teldta.com or at www.videonewswire.com/event.asp?id=100144.
    --  Access the call by phone at 877-407-8029 (US/Canada), no pass code
    required.
    

    Before the call, certain financial and statistical information to be discussed during the call will be posted to investors.teldta.com. The call will be archived on the Events & Presentations page of investors.teldta.com.

    About TDS
    Telephone and Data Systems, Inc. (TDS), a Fortune 1000(R) company, provides wireless; cable and wireline broadband, TV and voice; and hosted and managed services to approximately 5.8 million customers nationwide through its business units, U.S. Cellular, TDS Telecom, OneNeck IT Solutions and Baja Broadband. Founded in 1969 and headquartered in Chicago, TDS employed 10,100 people as of June 30, 2014.

    Visit www.teldta.com for comprehensive financial information, including earnings releases, quarterly and annual filings, shareholder information and more.

    Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: impacts of any pending acquisition and divestiture transactions, including, but not limited to, the ability to obtain regulatory approvals, successfully complete the transactions and the financial impacts of such transactions; the ability of the company to successfully manage and grow its markets; the overall economy; competition; the access to and pricing of unbundled network elements; the ability to obtain or maintain roaming arrangements with other carriers on acceptable terms; the state and federal telecommunications regulatory environment; the value of assets and investments; adverse changes in the ratings afforded TDS and U.S. Cellular debt securities by accredited ratings organizations; industry consolidation; advances in telecommunications technology; uncertainty of access to the capital markets; pending and future litigation; changes in income tax rates, laws, regulations or rulings; acquisitions/divestitures of properties and/or licenses; changes in customer growth rates, average monthly revenue per user, churn rates, roaming revenue and terms, the availability of wireless devices, or the mix of products and services offered by U.S. Cellular and TDS Telecom. Investors are encouraged to consider these and other risks and uncertainties that are discussed in the Form 8-K Current Report used by TDS to furnish this press release to the Securities and Exchange Commission ("SEC"), which are incorporated by reference herein.

    For more information about TDS and its subsidiaries, visit:
    TDS: www.teldta.com
    U.S. Cellular: www.uscellular.com
    TDS Telecom: www.tdstelecom.com
    OneNeck IT Solutions: www.oneneck.com


    United States Cellular Corporation Total Markets* Summary Operating Data (Unaudited) As of or for the Quarter Ended 6/30/2014 3/31/2014 12/31/2013 9/30/2013 6/30/2013 ------------------------------ --------- --------- ---------- --------- --------- Retail Customers Postpaid Total at end of period 4,148,000 4,174,000 4,267,000 4,343,000 4,412,000 Gross additions 190,000 197,000 176,000 165,000 165,000 Net additions (losses) (26,000) (93,000) (71,000) (60,000) (120,000) ARPU (1) $56.82 $57.59 $53.53 $54.64 $54.18 Churn rate (2) 1.7% 2.3% 1.9% 1.7% 2.0% Smartphone penetration (3) 55.3% 53.1% 50.8% 47.1% 45.5% Prepaid Total at end of period 352,000 356,000 343,000 370,000 381,000 Gross additions 65,000 85,000 63,000 65,000 77,000 Net additions (losses) (4,000) 13,000 (26,000) (11,000) (7,000) ARPU (1) $34.02 $32.22 $31.66 $28.72 $31.69 Churn rate (2) 6.5% 6.9% 8.3% 6.8% 6.8% Total customers at end of period 4,653,000 4,684,000 4,774,000 4,875,000 4,968,000 Billed ARPU (1) $53.36 $53.93 $50.25 $50.92 $50.60 Service revenue ARPU (1) $60.32 $60.19 $57.05 $58.36 $57.45 Smartphones sold as a percent of total 72.6% 73.0% 79.6% 65.2% 66.0% devices sold Total population Consolidated markets (4) 54,817,000 54,817,000 58,013,000 84,025,000 84,025,000 Consolidated operating markets (4) 31,729,000 31,729,000 31,759,000 31,822,000 31,822,000 Market penetration at end of period Consolidated markets (5) 8.5% 8.5% 8.2% 5.8% 5.9% Consolidated operating markets (5) 14.7% 14.8% 15.0% 15.3% 15.6% Capital expenditures (000s) $143,927 $89,581 $208,135 $242,459 $168,497 Total cell sites in service 6,183 6,165 6,975 7,687 7,748 Owned towers 4,457 4,448 4,448 4,422 4,411


    * Represents U.S. Cellular's consolidated markets. These results include markets which U. S. Cellular currently consolidates, or previously consolidated in the periods presented, and are not adjusted in prior periods for subsequent divestitures or deconsolidations. Refer to U.S. Cellular's Form 8-K filed on August 2, 2013 for pro forma financial information related to the Divestiture Transaction and the NY1 and NY2 Deconsolidation for the three and six months ended June 30, 2013, as if the transactions had occurred at the beginning of the period.


    United States Cellular Corporation Core* Markets Summary Operating Data (Unaudited) As of or for the Quarter Ended 6/30/2014 3/31/2014 12/31/2013 9/30/2013 6/30/2013 ------------------------------ --------- --------- ---------- --------- --------- Retail Customers Postpaid Total at end of period 4,148,000 4,174,000 4,267,000 4,343,000 4,412,000 Gross additions 190,000 197,000 176,000 165,000 165,000 Net additions (losses) (26,000) (93,000) (71,000) (60,000) (53,000) ARPU (1) $56.82 $57.59 $53.53 $54.64 $54.44 Churn rate (2) 1.7% 2.3% 1.9% 1.7% 1.6% Smartphone penetration (3) 55.3% 53.1% 50.8% 47.1% 45.5% Prepaid Total at end of period 352,000 356,000 343,000 370,000 381,000 Gross additions 65,000 85,000 63,000 65,000 76,000 Net additions (losses) (4,000) 13,000 (26,000) (11,000) 8,000 ARPU (1) $34.02 $32.22 $31.66 $28.72 $31.65 Churn rate (2) 6.5% 6.9% 8.3% 6.8% 6.0% Total customers at end of period 4,653,000 4,684,000 4,774,000 4,875,000 4,968,000 Billed ARPU (1) $53.36 $53.93 $50.25 $50.92 $50.98 Service revenue ARPU (1) $60.32 $60.19 $57.05 $58.36 $57.88 Smartphones sold as a percent of total 72.6% 73.0% 79.6% 65.2% 66.1% devices sold Total population Consolidated markets (4) 54,817,000 54,817,000 58,013,000 84,025,000 84,025,000 Consolidated operating markets (4) 31,729,000 31,729,000 31,759,000 31,822,000 31,822,000 Market penetration at end of period Consolidated markets (5) 8.5% 8.5% 8.2% 5.8% 5.9% Consolidated operating markets (5) 14.7% 14.8% 15.0% 15.3% 15.6% Capital expenditures (000s) $143,927 $89,581 $211,247 $239,332 $171,166 Total cell sites in service 6,183 6,165 6,161 6,127 6,113 Owned towers 3,892 3,883 3,883 3,857 3,846

    * U.S. Cellular's Core Markets excludes the results of the Divestiture Markets and NY1 and NY2 Partnerships for the periods presented. Refer to U.S. Cellular's Form 8-K filed on August 2, 2013 for pro forma financial information related to the Divestiture Transaction and the NY1 and NY2 Deconsolidation for the three and six months ended June 30, 2013, as if the transactions had occurred at the beginning of the period. (1) ARPU metrics are calculated by dividing a revenue base by an average number of customers by the number of months in the period. These revenue bases and customer populations are shown below: a. Postpaid ARPU consists of total postpaid service revenues and postpaid customers. b. Prepaid ARPU consists of total prepaid service revenues and prepaid customers. c. Billed ARPU consists of total retail service or "billed" revenues (total postpaid, prepaid and reseller service revenues) and postpaid, prepaid and reseller customers. d. Service revenue ARPU consists of total retail service revenues, inbound roaming and other service revenues and postpaid, prepaid and reseller customers. (2) Churn metrics represent the percentage of the postpaid or prepaid customers that disconnect service each month. These metrics represent the average monthly postpaid or prepaid churn rate for each respective period. (3) Smartphones represent wireless devices which run on an Android, Apple, BlackBerry or Windows Mobile operating system, excluding tablets. Smartphone penetration is calculated by dividing postpaid smartphone customers by total postpaid customers. (4) The decrease in the population of Consolidated markets is due primarily to the divestiture of the Mississippi Valley non-operating license in October 2013 and the majority of the St. Louis area non-operating market license in March 2014. Total Population is used only to calculate market penetration of consolidated markets and consolidated operating markets, respectively. See footnote (5) below. (5) Market penetration is calculated by dividing the number of wireless customers at the end of the period by the total population of consolidated markets and consolidated operating markets, respectively, as estimated by Claritas. The increase in penetration is due primarily to a lower denominator as a result of the license divestitures described in footnote (4) above.


    TDS Telecom Summary Operating Data (Unaudited) Quarter Ended 6/30/2014 3/31/2014 12/31/2013 9/30/2013 6/30/2013 --------- --------- ---------- --------- --------- TDS Telecom Wireline -------- Residential connections Voice (1) 346,100 348,700 352,100 358,100 364,100 Broadband (2) 232,700 229,000 227,000 229,500 231,700 IPTV (3) 18,200 15,900 13,800 12,200 10,500 ------ ------ ------ ------ ------ Wireline residential connections 597,000 593,600 592,900 599,800 606,300 ======= ======= ======= ======= ======= Total residential revenue per connection (4) $41.05 $40.79 $40.93 $41.12 $40.10 Commercial connections Voice (1) 206,200 212,200 218,400 223,800 229,100 Broadband (2) 26,000 26,600 27,100 27,600 28,200 managedIP (5) 133,300 131,000 127,600 121,000 112,000 ------- ------- ------- ------- ------- Wireline commercial connections 365,500 369,800 373,100 372,400 369,300 ======= ======= ======= ======= ======= Total Wireline connections 962,500 963,400 966,000 972,200 975,600 ======= ======= ======= ======= ======= Cable ----- Cable Connections Video (6) 69,700 68,700 69,100 70,300 Broadband (7) 63,200 63,000 61,000 59,800 Voice (7) 17,800 17,700 17,200 16,800 ------ ------ ------ ------ Cable connections 150,700 149,400 147,300 146,900 ======= ======= ======= ======= Total residential revenue per connection (4) $56.80 $57.37 $55.27 $55.67

    (1) The individual circuit connecting customers to TDS Telecom's central office facilities. (2) The number of customers provided high- capacity data circuits via various technologies, including DSL and dedicated internet circuit technologies. (3) The number of customers provided video services using IP networking technology. (4) Total residential revenue divided by the average number of total residential connections. (5) The number of telephone handsets, data lines and IP trunks providing communications using IP networking technology. (6) Generally, a home or business receiving video programming counts as one video connection. In counting bulk residential or commercial connections, such as an apartment building or hotel, connections are counted based on the number of units/ rooms within the building receiving service. (7) Broadband and voice connections reflect billable number of lines into a building for high speed data and voice services, respectively.

    TDS Telecom Capital Expenditures (000s) Quarter Ended 6/30/2014 3/31/2014 12/31/2013 9/30/2013 6/30/2013 --------- --------- ---------- --------- --------- Wireline $27,400 $22,900 $46,000 $32,800 $33,300 Cable 7,200 6,200 7,000 1,400 - HMS 10,600 2,800 9,200 2,400 2,300 ------ ----- ----- ----- ----- $45,200 $31,900 $62,200 $36,600 $35,600 ======= ======= ======= ======= =======


    Telephone and Data Systems, Inc. Consolidated Statement of Operations Highlights Three Months Ended June 30, (Unaudited, dollars and shares in thousands, except per share amounts) Change ------ 2014 2013 Amount Percent ---- ---- ------ ------- Operating revenues U.S. Cellular $957,773 $995,130 $(37,357) (4%) TDS Telecom 270,850 223,460 47,390 21% All Other (1) 7,769 9,576 (1,807) (19%) 1,236,392 1,228,166 8,226 1% --------- --------- ----- Operating expenses U.S. Cellular Expenses excluding depreciation, amortization and accretion 863,361 813,464 49,897 6% Depreciation, amortization and accretion 148,337 202,580 (54,243) (27%) (Gain) loss on asset disposals, net 6,893 9,018 (2,125) (24%) (Gain) loss on sale of business and other exit costs, net (10,511) (249,024) 238,513 96% ------- -------- ------- 1,008,080 776,038 232,042 30% --------- ------- ------- TDS Telecom Expenses excluding depreciation, amortization and accretion 197,427 162,954 34,473 21% Depreciation, amortization and accretion 53,175 48,756 4,419 9% (Gain) loss on asset disposals, net 983 (682) 1,665 >(100%) --- ---- ----- 251,585 211,028 40,557 19% ------- ------- ------ All Other (1)(2) Expenses excluding depreciation and amortization 9,613 10,033 (420) (4%) Depreciation and amortization 3,055 2,867 188 7% (Gain) loss on asset disposals, net 27 (17) 44 >(100%) (Gain) loss on sale of business and other exit costs, net 13,122 (54,010) 67,132 >(100%) ------ ------- ------ 25,817 (41,127) 66,944 >(100%) ------ ------- ------ Total operating expenses 1,285,482 945,939 339,543 36% --------- ------- ------- Operating income (loss) U.S. Cellular (50,307) 219,092 (269,399) >(100%) TDS Telecom 19,265 12,432 6,833 55% All Other (1)(2) (18,048) 50,703 (68,751) >(100%) (49,090) 282,227 (331,317) >(100%) ------- ------- -------- Investment and other income (expense) Equity in earnings of unconsolidated entities 34,790 35,605 (815) (2%) Interest and dividend income 2,751 2,600 151 6% Gain (loss) on investments - 14,518 (14,518) N/M Interest expense (27,898) (23,749) (4,149) (17%) Other, net 50 (197) 247 >(100%) Total investment and other income 9,693 28,777 (19,084) (66%) ----- ------ ------- Income (loss) before income taxes (39,397) 311,004 (350,401) >(100%) Income tax expense (benefit) (13,671) 132,607 (146,278) >(100%) Net income (loss) (25,726) 178,397 (204,123) >(100%) Less: Net income (loss) attributable to noncontrolling interests, net of tax (3,688) 22,320 (26,008) >(100%) Net income (loss) attributable to TDS shareholders (22,038) 156,077 (178,115) >(100%) TDS Preferred dividend requirement (12) (12) - - Net income (loss) available to common shareholders $(22,050) $156,065 $(178,115) >(100%) ======== ======== ========= Basic weighted average shares outstanding 108,719 108,385 334 - Basic earnings (loss) per share attributable to TDS shareholders $(0.20) $1.44 $(1.64) >(100%) Diluted weighted average shares outstanding 108,719 108,913 (194) - Diluted earnings (loss) per share attributable to TDS shareholders $(0.20) $1.42 $(1.62) >(100%)

    (1) Consists of Non-Reportable Segment, corporate operations and intercompany eliminations between U.S. Cellular, TDS Telecom, the Non-Reportable Segment and corporate operations. (2) Due to the Airadigm Transaction, TDS recognized expenses of $13.1 million related to exit and disposal activities in 2014. In 2013, TDS recognized an incremental gain of $53.5 million compared to U.S. Cellular upon closing of the Divestiture Transaction as a result of lower asset basis in the assets disposed. N/M - Percentage change not meaningful


    Telephone and Data Systems, Inc. Consolidated Statement of Operations Highlights Six Months Ended June 30, (Unaudited, dollars and shares in thousands, except per share amounts) Change ------ 2014 2013 Amount Percent ---- ---- ------ ------- Operating revenues U.S. Cellular $1,883,584 $2,076,876 $(193,292) (9%) TDS Telecom 533,266 440,521 92,745 21% All Other (1) 15,504 19,342 (3,838) (20%) 2,432,354 2,536,739 (104,385) (4%) --------- --------- -------- Operating expenses U.S. Cellular Expenses excluding depreciation, amortization and accretion 1,710,006 1,691,534 18,472 1% Depreciation, amortization and accretion 316,090 392,425 (76,335) (19%) (Gain) loss on asset disposals, net 8,827 14,452 (5,625) (39%) (Gain) loss on sale of business and other exit costs, net (17,411) (242,093) 224,682 93% (Gain) loss on license sales and exchanges (91,446) - (91,446) N/M ------- --- ------- 1,926,066 1,856,318 69,748 4% --------- --------- ------ TDS Telecom Expenses excluding depreciation, amortization and accretion 387,730 322,440 65,290 20% Depreciation, amortization and accretion 106,950 98,247 8,703 9% (Gain) loss on asset disposals, net 1,327 (489) 1,816 >(100%) ----- ---- ----- 496,007 420,198 75,809 18% ------- ------- ------ All Other (1)(2) Expenses excluding depreciation and amortization 18,939 19,272 (333) (2%) Depreciation and amortization 6,446 5,608 838 15% (Gain) loss on asset disposals, net 179 (28) 207 >(100%) (Gain) loss on sale of business and other exit costs, net 13,122 (54,010) 67,132 >(100%) ------ ------- ------ 38,686 (29,158) 67,844 >(100%) ------ ------- ------ Total operating expenses 2,460,759 2,247,358 213,401 9% --------- --------- ------- Operating income (loss) U.S. Cellular (42,482) 220,558 (263,040) >(100%) TDS Telecom 37,259 20,323 16,936 83% All Other (1)(2) (23,182) 48,500 (71,682) >(100%) (28,405) 289,381 (317,786) >(100%) ------- ------- -------- Investment and other income (expense) Equity in earnings of unconsolidated entities 72,117 62,694 9,423 15% Interest and dividend income 5,237 4,178 1,059 25% Gain (loss) on investments ? 14,518 (14,518) N/M Interest expense (56,605) (48,247) (8,358) (17%) Other, net 210 (351) 561 >(100%) Total investment and other income 20,959 32,792 (11,833) (36%) ------ ------ ------- Income (loss) before income taxes (7,446) 322,173 (329,619) >(100%) Income tax expense (benefit) (2,014) 136,787 (138,801) >(100%) Net income (loss) (5,432) 185,386 (190,818) >(100%) Less: Net income (loss) attributable to noncontrolling interests, net of tax (1,648) 27,890 (29,538) >(100%) Net income (loss) attributable to TDS shareholders (3,784) 157,496 (161,280) >(100%) TDS Preferred dividend requirement (25) (25) - - Net income (loss) available to common shareholders $(3,809) $157,471 $(161,280) >(100%) ======= ======== ========= Basic weighted average shares outstanding 108,853 108,320 533 - Basic earnings (loss) per share attributable to TDS shareholders $(0.04) $1.45 $(1.49) >(100%) Diluted weighted average shares outstanding 108,853 108,827 26 - Diluted earnings (loss) per share attributable to TDS shareholders $(0.04) $1.44 $(1.48) >(100%)

    (1) Consists of Non-Reportable Segment, corporate operations and intercompany eliminations between U.S. Cellular, TDS Telecom, the Non-Reportable Segment and corporate operations. (2) Due to the Airadigm Transaction, TDS recognized expenses of $13.1 million related to exit and disposal activities in 2014. In 2013, TDS recognized an incremental gain of $53.5 million compared to U.S. Cellular upon closing of the Divestiture Transaction as a result of lower asset basis in the assets disposed. N/M - Percentage change not meaningful


    Telephone and Data Systems, Inc. Consolidated Balance Sheet Highlights (Unaudited, dollars in thousands) ASSETS June 30, December 31, 2014 2013 ---- ---- Current assets Cash and cash equivalents $874,860 $830,014 Short-term investments 40,035 50,104 Accounts receivable from customers and others 624,261 731,114 Inventory, net 205,886 244,560 Net deferred income tax asset 106,077 106,077 Prepaid expenses 88,860 87,920 Income taxes receivable 9,197 2,397 Other current assets 32,274 35,151 1,981,450 2,087,337 Assets held for sale 5,980 16,027 Investments Licenses 1,460,484 1,423,779 Goodwill 834,352 836,843 Franchise rights 124,487 123,668 Other intangible assets, net 61,536 71,454 Investments in unconsolidated entities 308,661 301,772 Other investments 589 641 2,790,109 2,758,157 Property, plant and equipment, net U.S. Cellular 2,761,404 2,856,520 TDS Telecom 962,377 984,634 Other 26,166 36,990 3,749,947 3,878,144 Other assets and deferred charges 180,183 164,482 ------- ------- Total assets $8,707,669 $8,904,147 ========== ==========


    Telephone and Data Systems, Inc. Consolidated Balance Sheet Highlights (Unaudited, dollars in thousands) LIABILITIES AND EQUITY June 30, December 31, 2014 2013 ---- ---- Current liabilities Current portion of long-term debt $890 $1,646 Accounts payable 425,051 496,069 Customer deposits and deferred revenues 302,496 289,445 Accrued interest 6,671 6,673 Accrued taxes 73,227 70,518 Accrued compensation 98,099 115,031 Other current liabilities 166,270 212,374 ------- ------- 1,072,704 1,191,756 Liabilities held for sale 722 ? Deferred liabilities and credits Net deferred income tax liability 828,458 862,975 Other deferred liabilities and credits 460,862 458,709 Long-term debt 1,718,832 1,720,074 Noncontrolling interests with redemption features 911 536 Equity TDS shareholders' equity Series A Common and Common Shares, par value $.01 1,327 1,327 Capital in excess of par value 2,312,515 2,308,807 Treasury shares, at cost (737,835) (721,354) Accumulated other comprehensive loss (980) (569) Retained earnings 2,496,735 2,529,626 --------- --------- Total TDS shareholders' equity 4,071,762 4,117,837 Preferred shares 824 824 Noncontrolling interests 552,594 551,436 Total equity 4,625,180 4,670,097 Total liabilities and equity $8,707,669 $8,904,147 ========== ==========


    Balance Sheet Highlights June 30, 2014 (Unaudited, dollars in thousands) U.S. TDS TDS Corporate Intercompany TDS Cellular Telecom & Other Eliminations Consolidated -------- ------- ------- ------------ ------------ Cash and cash equivalents $404,058 $87,170 $383,632 $ ? $874,860 Affiliated cash investments ? 466,295 ? (466,295) ? Short-term investments 40,035 ? ? ? 40,035 ------ --- --- --- ------ $444,093 $553,465 $383,632 $(466,295) $914,895 ======== ======== ======== ========= ======== Licenses, goodwill and other intangible assets $1,825,355 $786,487 $(130,983) $ ? $2,480,859 Investment in unconsolidated entities 270,215 3,810 41,789 (7,153) 308,661 Long-term and other investments ? 588 1 ? 589 --- --- --- --- --- $2,095,570 $790,885 $(89,193) $(7,153) $2,790,109 ========== ======== ======== ======= ========== Property, plant and equipment, net $2,761,404 $962,377 $26,166 $ ? $3,749,947 ========== ======== ======= === === ========== Long-term debt: Current portion $46 $57 $787 $ ? $890 Non- current portion 876,715 1,424 840,693 ? 1,718,832 $876,761 $1,481 $841,480 $ ? $1,719,722 ======== ====== ======== === === ==========


    Telephone and Data Systems, Inc. Schedule of Cash and Cash Equivalents and Investments (Unaudited, dollars in thousands) The following table presents TDS' cash and cash equivalents and investments at June 30, 2014 and December 31, 2013. June 30, December 31, 2014 2013 ---- ---- Cash and cash equivalents $874,860 $830,014 Amounts included in short- term investments (1) (2) U.S. Treasury Notes 40,035 50,104 Total cash and cash equivalents and investments $914,895 $880,118 ======== ========

    (1) Designated as held-to-maturity investments and are recorded at amortized cost in the Consolidated Balance Sheet. (2) Maturities are less than twelve months from the respective balance sheet dates.


    Telephone and Data Systems, Inc. Consolidated Statement of Cash Flows Six Months Ended June 30, (Unaudited, dollars in thousands) 2014 2013 ---- ---- Cash flows from operating activities Net income (loss) $(5,432) $185,386 Add (deduct) adjustments to reconcile net income to cash flows from operating activities Depreciation, amortization and accretion 429,486 496,280 Bad debts expense 52,098 35,187 Stock-based compensation expense 15,488 12,902 Deferred income taxes, net (33,346) (21,246) Equity in earnings of unconsolidated entities (72,117) (62,694) Distributions from unconsolidated entities 65,569 47,635 (Gain) loss on asset disposals, net 10,333 13,935 (Gain) loss on sale of business and other exit costs, net (4,289) (296,103) (Gain) loss on investments - (14,518) (Gain) loss on license sales and exchanges (91,446) - Noncash interest expense 1,014 997 Other operating activities 3 505 Changes in assets and liabilities from operations Accounts receivable 40,459 (5,781) Inventory 38,674 (8,105) Accounts payable (43,132) 58,204 Customer deposits and deferred revenues 13,139 7,897 Accrued taxes 1,049 150,425 Accrued interest 22 2,172 Other assets and liabilities (101,930) (81,586) -------- ------- 315,642 521,492 ------- ------- Cash flows from investing activities Cash used for additions to property, plant and equipment (339,907) (384,281) Cash paid for acquisitions and licenses (18,681) (14,150) Cash received from divestitures 125,905 480,000 Cash received for investments 10,000 15,000 Other investing activities 3,720 14,127 (218,963) 110,696 -------- ------- Cash flows from financing activities Repayment of long-term debt (589) (605) TDS Common Shares reissued for benefit plans, net of tax payments 401 776 U.S. Cellular Common Shares reissued for benefit plans, net of tax payments 830 (2,206) Repurchase of TDS Common Shares (20,090) - Repurchase of U.S. Cellular Common Shares (8,298) (18,425) Dividends paid to TDS shareholders (29,107) (27,598) U.S. Cellular dividends paid to noncontrolling public shareholders - (75,235) Distributions to noncontrolling interests (482) (3,292) Other financing activities 5,502 331 (51,833) (126,254) ------- -------- Net increase in cash and cash equivalents 44,846 505,934 Cash and cash equivalents Beginning of period 830,014 740,481 End of period $874,860 $1,246,415


    TDS Telecom Highlights Three Months Ended June 30, (Unaudited, dollars in thousands) Change ------ 2014 2013 Amount Percent ---- ---- ------ ------- Wireline Operating revenues Residential $73,360 $72,911 $449 1% Commercial 57,472 57,128 344 1% Wholesale 49,465 51,389 (1,924) (4%) Total service revenues 180,297 181,428 (1,131) (1%) Equipment sales 431 765 (334) (44%) 180,728 182,193 (1,465) (1%) ------- ------- ------ Operating expenses Cost of services 64,305 65,729 (1,424) (2%) Cost of equipment sold 481 1,094 (613) (56%) Selling, general and administrative expenses 47,708 56,692 (8,984) (16%) Depreciation, amortization and accretion 41,827 43,193 (1,366) (3%) (Gain) loss on asset disposals, net 514 (765) 1,279 >100% 154,835 165,943 (11,108) (7%) ------- ------- ------- Operating income $25,893 $16,250 $9,643 59% ---------- Cable Operating revenues Residential $18,222 $ - $18,222 N/M Commercial 4,262 - 4,262 N/M 22,484 - 22,484 N/M Operating expenses Cost of services 11,394 - 11,394 N/M Selling, general and administrative expenses 6,285 - 6,285 N/M Depreciation, amortization and accretion 4,557 - 4,557 N/M Loss on asset disposals, net 425 - 425 N/M 22,661 - 22,661 N/M ------ --- ------ Operating loss $(177) $ - $(177) N/M ------------ --- HMS Operating revenues Service revenues $27,575 $23,205 $4,370 19% Equipment sales 40,361 18,169 22,192 >100% 67,936 41,374 26,562 64% ------ ------ ------ Operating expenses Cost of services 21,301 15,071 6,230 41% Cost of equipment sold 33,875 15,114 18,761 >100% Selling, general and administrative expenses 12,376 9,361 3,015 32% Depreciation, amortization and accretion 6,791 5,563 1,228 22% Loss on asset disposals, net 44 83 (39) (47%) 74,387 45,192 29,195 65% ------ ------ ------ Operating loss $(6,451) $(3,818) $(2,633) (69%) ------------ Intercompany revenues $(298) $(107) $(191) >(100)% Intercompany expenses (298) (107) (191) >(100)% ---- ---- ---- Total TDS Telecom operating income $19,265 $12,432 $6,833 55% ======= ======= ======


    TDS Telecom Highlights Six Months Ended June 30, (Unaudited, dollars in thousands) Change ------ 2014 2013 Amount Percent ---- ---- ------ ------- Wireline Operating revenues Residential $145,865 $145,915 $(50) - Commercial 115,452 114,253 1,199 1% Wholesale 95,913 101,938 (6,025) (6%) Total service revenues 357,230 362,106 (4,876) (1%) Equipment sales 984 1,662 (678) (41%) 358,214 363,768 (5,554) (2%) ------- ------- ------ Operating expenses Cost of services 128,705 132,168 (3,463) (3%) Cost of equipment sold 964 2,104 (1,140) (54%) Selling, general and administrative expenses 94,228 114,072 (19,844) (17%) Depreciation, amortization and accretion 84,563 87,216 (2,653) (3%) (Gain) loss on asset disposals, net 759 (602) 1,361 >100% 309,219 334,958 (25,739) (8%) ------- ------- ------- Operating income $48,995 $28,810 $20,185 70% ---------- Cable Operating revenues Residential $36,475 $ - $36,475 N/M Commercial 8,512 - 8,512 N/M 44,987 - 44,987 N/M Operating expenses Cost of services 22,349 - 22,349 N/M Selling, general and administrative expenses 12,663 - 12,663 N/M Depreciation, amortization and accretion 8,918 - 8,918 N/M Loss on asset disposals, net 490 - 490 N/M 44,420 - 44,420 N/M ------ --- ------ Operating income $567 $ - $567 N/M ---------- --- HMS Operating revenues Service revenues $54,951 $45,205 $9,746 22% Equipment sales 76,093 31,733 44,360 >100% 131,044 76,938 54,106 70% ------- ------ ------ Operating expenses Cost of services 38,247 28,673 9,574 33% Cost of equipment sold 64,342 26,326 38,016 >100% Selling, general and administrative expenses 27,211 19,282 7,929 41% Depreciation, amortization and accretion 13,469 11,031 2,438 22% Loss on asset disposals, net 78 113 (35) (31%) 143,347 85,425 57,922 68% ------- ------ ------ Operating loss $(12,303) $(8,487) $(3,816) (45%) ------------ Intercompany revenues $(979) $(185) $(794) >(100)% Intercompany expenses (979) (185) (794) >(100)% ---- ---- ---- Total TDS Telecom operating income $37,259 $20,323 $16,936 83% ======= ======= =======

    Telephone and Data Systems, Inc. Financial Measures and Reconciliations (Unaudited, dollars in thousands) TDS Consolidated ---------------- Three Months Ended Six Months Ended June 30, June 30, -------- -------- 2014 2013 2014 2013 ---- ---- ---- ---- Cash flows from operating activities $210,705 $275,140 $315,642 $521,492 Add: Sprint Cost Reimbursement 22,862 - 34,116 - Less: Cash used for additions to property, 189,017 207,963 339,907 384,281 plant and equipment Adjusted free cash flow (1) $44,550 $67,177 $9,851 $137,211 ======= ======= ====== ========

    (1) Adjusted free cash flow is defined as Cash flows from operating activities, as adjusted for cash proceeds from the Sprint Cost Reimbursement (which are included in Cash flows from investing activities in the Consolidated Statement of Cash Flows), less Cash used for additions to property, plant and equipment. Adjusted free cash flow is a non-GAAP financial measure which TDS believes may be useful to investors and other users of its financial information in evaluating the amount of cash generated by business operations (including cash proceeds from the Sprint Cost Reimbursement), after Cash used for additions to property, plant and equipment. The prior manner of calculating free cash flow has been adjusted to include the Sprint Cost Reimbursement. The reason for this is that the Sprint decommissioning cash outflows are included in "Cash flows from operating activities," but the reimbursements from Sprint related to these outflows are not included in this caption.

    Telephone and Data Systems, Inc.

    CONTACT: Jane McCahon, Vice President, Corporate Relations and Corporate
    Secretary, 312- 592-5379, jane.mccahon@teldta.com; or Julie Mathews,
    Investor Relations Manager, 312- 592-5341, julie.mathews@teldta.com

    Web site: http://www.teldta.com/




    FARO Announces Acquisition of The CAD Zone, Inc. to Expand Presence in the Law Enforcement Products and Services Market

    LAKE MARY, Florida, Aug. 1, 2014 /PRNewswire/ -- FARO Technologies, Inc. , the world's most trusted source for 3D measurement, imaging and realization technology, announced it has acquired The CAD Zone, Inc., a leading software provider in the law enforcement accident and crime scene reconstruction market. CAD Zone's point cloud software application will be integrated with FARO's laser scanning technology to provide turnkey solutions for crime scene and other forensic applications.

    Logo - http://photos.prnewswire.com/prnh/20110415/MM84316LOGO [http://photos.prnewswire.com/prnh/20110415/MM84316LOGO]

    FARO's continued push into the $8.3 billion[1] law enforcement forensic technologies market supports its implementation of a long-term strategy of expansion into key vertical markets with its disruptive 3D metrology, imaging and realization products.

    "We believe CAD Zone's leading software solutions for law enforcement will provide FARO with a compelling integrated 3D documentation product offering," stated Jay Freeland, FARO's President and CEO. "This acquisition is an important part of our strategic focus on penetrating key vertical markets that offer FARO the most market potential. While law enforcement is a relatively small vertical market for FARO today, we believe it represents a significant opportunity for the right 3D documentation solution and our acquisition of CAD Zone takes a major step forward in creating that offering."

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about FARO's growth, demand for and customer acceptance of FARO's products, anticipated improvement in the markets in which FARO operates, and FARO's product development and product launches. Statements that are not historical facts or that describe the Company's plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as "believe," "is," "will," and similar expressions or discussions of FARO's plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.

    Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:

    --  the Company's inability to successfully identify and acquire target
    companies or achieve expected benefits from acquisitions that are
    consummated;
    --  development by others of new or improved products, processes or
    technologies that make the Company's products less competitive or
    obsolete;
    --  the Company's inability to maintain its technological advantage by
    developing new products and enhancing its existing products;
    --  declines or other adverse changes, or lack of improvement, in industries
    that the Company serves or the domestic and international economies in
    the regions of the world where the Company operates and other general
    economic, business, and financial conditions; and
    --  other risks detailed in Part I, Item 1A. Risk Factors in the Company's
    Annual Report on Form 10-K for the year ended December 31, 2013.
    

    Forward-looking statements in this release represent the Company's judgment as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law.

    About FARO
    FARO is the world's most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes.

    Approximately 15,000 customers are operating more than 30,000 installations of FARO's systems, worldwide. The Company's global headquarters is located in Lake Mary, FL; its European regional headquarters in Stuttgart, Germany; and its Asia/Pacific regional headquarters in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, Portugal, India, China, Malaysia, Vietnam, Thailand, South Korea, and Japan.

    More information is available at http://www.faro.com [http://www.faro.com/].

    [1] Transparency Market Research, Forensic Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

    Photo: http://photos.prnewswire.com/prnh/20110415/MM84316LOGO FARO Technologies, Inc.

    CONTACT: Nancy Setteducati, Nancy.setteducati@faro.com; +1-407-333-9911

    Web site: http://www.faro.com/




    Conference on 3D Printing to Open in Schaumburg, ILCutting-edge technology sessions offered during manufacturing event

    SANTA MONICA, Calif., Aug. 1, 2014 /PRNewswire/ -- A new, all-day conference on 3D printing will be offered during the upcoming Design & Manufacturing Midwest trade event, which takes place October 15-16, 2014, at the Schaumburg Convention Center in Schaumburg, IL. The educational sessions on Wednesday, October 15, cover new materials used in 3D printing, including metals, innovative uses of 3D printing in manufacturing, and a case study of 3D printing used in medical prostheses.

    http://photos.prnewswire.com/prnvar/20140731/132434

    UBM Canon's long-running Midwest manufacturing event brings together four co-located trade shows under one roof, attracting thousands of exhibitors and attendees to the area. Joining the Design & Manufacturing event are ATX Midwest (formerly known as Assembly & Automation Technology Expo), MD&M Chicago (medical design & development), and PLASTEC Midwest.

    In addition to the 3D printing educational sessions, another full day of sessions will cover M2M, the Industrial Internet of Things, investigating the transition from wired to wireless, the conversion of legacy systems, and resolving security and inoperability issues. Of special interest is how this disruptive technology of machines communicating with one another is enabling greater flexibility, efficiency, and connectivity of information. There will also be in-depth, two-hour sessions on robotics applications, design innovation and ideation, and lean manufacturing.

    Medical device design professionals will find additional educational opportunities at the MD&M Chicago conference, which will focus on specific issues and technical training for the medtech industry. New this year is a full day devoted to the "Connected Digital Health."

    About UBM Canon
    UBM Canon is the leading B-to-B event producer, publisher, and digital media company for the world's $3 trillion advanced, technology-based manufacturing industry. Our print and electronic products deliver trusted information to the advanced manufacturing market and leverage our proprietary 1.3 million name database to connect suppliers with buyers and purchase influencers. We produce more than 50 events and conferences in a dozen countries, connecting manufacturing professionals from around the globe. UBM Canon is part of UBM plc (UBM.L) a global provider of media and information services for professional B-to-B communities and markets.

    About UBM plc
    UBM plc is a global events-led marketing services and communications company. We help businesses do business, bringing the world's buyers and sellers together at events and online, as well as producing and distributing news and specialist content. Our 5,500 staff in more than 30 countries are organized into expert teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently.

    For more information, go to www.ubm.com; follow us on Twitter at @UBM_plc to get the latest UBM corporate news; follow @UBM for news and updates from across the businesses and selected members of UBM's Twitterati.

    http://photos.prnewswire.com/prnvar/20131107/LA12041LOGO-c

    Photo - http://photos.prnewswire.com/prnh/20140731/132434
    Logo - http://photos.prnewswire.com/prnh/20131107/LA12041LOGO-c

    Photo: http://photos.prnewswire.com/prnh/20140731/132434
    http://photos.prnewswire.com/prnh/20131107/LA12041LOGO-c UBM Canon

    CONTACT: Donna Lawrence, Tel. (310) 445-8544, Email:
    Donna.Lawrence@ubm.com




    TeleCommunication Systems and NextNav Demonstrate Indoor Location Accuracy Technology Solutions for First RespondersTechnology Demonstration at APCO 2014 Conference & Expo on August 3-6 in New Orleans

    ANNAPOLIS, Md., and NEW ORLEANS, Aug. 1, 2014 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) , today announced that it is teaming with NextNav, LLC to demonstrate the use of Metropolitan Beacon System (MBS) technology as one solution to complement primary 9-1-1 technology for the purpose of providing indoor location information to public safety answering points in emergency situations. Demonstrations will take place at the APCO International Annual Conference, TCS booth #551, New Orleans Convention Center, August 3-6.

    http://photos.prnewswire.com/prnvar/20120503/PH99996LOGO

    Using NextNav's MBS network for positioning, the companies are demonstrating provision of an indoor caller's location information to 9-1-1 call takers. When an appropriately configured cell phone or other device places a 9-1-1 call from a community with a deployed MBS network, the caller's longitude, latitude and altitude are displayed to the 9-1-1 call-taker. This information is valuable for calls made from indoor locations, where other location techniques, such as GPS, are unavailable or less accurate.

    News Facts:

    --  According to information collected by the FCC, about 70% of the
    approximately 500,000 daily 9-1-1 calls nationally are placed from cell
    phones.
    --  According to the Center for Disease Control, more than 40% of households
    no longer have a landline, and over 60% of renters do not have a
    landline, making accurate indoor location for cellular calls to 9-1-1
    increasingly important.
    --  Various location techniques, including GPS, are helpful in providing
    location for the caller; however, when the caller is indoors, those
    techniques often cannot obtain a location fix, particularly in complex
    urban environments. If the caller is unable to verbally specify his or
    her location, first responders lose valuable time locating the caller.
    --  MBS technology is a valuable addition to emergency response because it
    is built on metropolitan or wide-area principles, similar to cellular
    networks, and provides consistent and reliable service to every
    structure within its service footprint.
    --  MBS provides altitude, which is as important as horizontal location in
    the types of large multi-story structures in urban areas.
    

    NextNav President and Co-Founder Ganesh Pattabiraman stated: "NextNav has developed and is currently deploying the world's first Metropolitan Beacon System network, bringing GPS-like accuracy and reliability, in all three dimensions, to indoor environments. 9-1-1 is among the most challenging scenarios for location because an emergency could come from any building, on any floor, at any time. GPS was the perfect solution outdoors, but new approaches are required for indoor positioning. We are proud to be the first to bring GPS-like positioning capabilities indoors, and to be able to serve entire metropolitan areas. We are very pleased to be collaborating with TCS, a recognized pioneer in wireless E9-1-1 and leader in next generation 9-1-1 solutions."

    TCS Safety & Security Group Vice President Kent Hellebust stated: "NextNav and TCS share a commitment to supporting the Public Safety community. TCS is a long-standing leader in developing new Public Safety technology and NextNav is a recognized innovator in indoor location accuracy. Together, we offer this technical approach as one solution to the challenge of improved indoor location information in emergency situations."

    Supporting Resources:

    --  TCS NextNav Partnership: NextNav Solution
    --  TCS Public Safety: www.911fromTCS.com
    

    Since deploying the first U.S. wireless E9-1-1 solution in 1998, TCS has been leading public safety solutions for wireless Enhanced 9-1-1 (E9-1-1), NG9-1-1 and E1-1-2. TCS supports half of all U.S. wireless E9-1-1 calls, serving more than 140 million wireless and IP-enabled devices. TCS is leading the enablement of text-to 9-1-1, and TCS also leads the nation in Emergency Services IP network (ESInet) deployments. TCS is the only non-carrier TL 9000-certified company that supports E9-1-1 services. Its E9-1-1 and NG9-1-1 solutions ensure that a subscriber's emergency call is routed to the appropriate PSAP and automatically pinpoints the caller's location information.

    About NextNav
    NextNav is deploying a revolutionary positioning technology to allow mobile phones and other devices to reliably determine their location in indoor and urban environments where GPS signals can't be received. NextNav's technology combines accurate horizontal positioning with floor-level height precision. Delivered over a managed network with carrier-grade dependability and metropolitan-wide coverage, NextNav's positioning services are designed for E9-1-1, public safety and emergency response as well as the multitude of consumer and commercial applications that require precise indoor location accuracy. Based in Sunnyvale, CA and McLean, VA, NextNav is working with the Public Safety community and major technology partners to embed its capability into new GPS chipsets and mobile phones. More information is available at http://www.nextnav.com

    About TeleCommunication Systems, Inc.
    TeleCommunication Systems, Inc. (TCS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies, visit www.telecomsys.com.

    Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include those detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2013, and on Form 10-Q for the quarter ended June 30, 2014.

    Existing and prospective investors 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 update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.

    TCS Contact: Investor Relations: TeleCommunication Systems, Inc. Liolios Group, Inc. Meredith Allen Scott Liolios 410-295-1865 949-574-3860 Mallen@telecomsys.com info@liolios.com

    Logo - http://photos.prnewswire.com/prnh/20120503/PH99996LOGO

    Photo: http://photos.prnewswire.com/prnh/20120503/PH99996LOGO TeleCommunication Systems, Inc.

    Web site: http://www.telecomsys.com/




    U.S. Cellular reports second quarter 2014 resultsProvides 2014 financial guidanceAs previously announced, U.S. Cellular will hold a teleconference Aug. 1, 2014 at 9:30 a.m. CDT. Listen to the live call via the Events & Presentations page of investors.uscellular.com.

    CHICAGO, Aug. 1, 2014 /PRNewswire/ -- United States Cellular Corporation reported total operating revenues of $957.8 million for the second quarter of 2014, versus $995.1 million for the same period one year ago. Net income (loss) attributable to U.S. Cellular shareholders and related diluted earnings (loss) per share were $(18.8) million and $(0.22) respectively, for the second quarter of 2014, compared to $143.4 million and $1.69, respectively, in the comparable period one year ago. Year-over-year comparisons are affected by the divestiture transaction in 2013.

    "We have continued to generate strong gross additions and reduce churn, which led to net postpaid customer growth for the month of June, and that has continued into July," said Kenneth R. Meyers, U.S. Cellular president and CEO. "We are building momentum from strategic actions we've taken to attract more new customers and increase loyalty.

    "More wireless consumers are responding to our strong value proposition that offers the speed and quality of our award-winning network, together with a wide range of devices and data services, and competitive pricing. Now that the billing system is stabilized, our associates are again delivering outstanding service to customers in our service centers and stores which has led to a significant reduction in postpaid customer churn.

    "With smartphone penetration at 55 percent among postpaid customers, data use continues to grow, driving up our postpaid average revenue per user. Our equipment installment plans, introduced in April, have been well received and represented 14 percent of equipment transactions in the quarter.

    "Growing our customer base is our highest priority in 2014, and our recent performance gives me confidence that we're on the right track to achieve this goal, with our competitive devices, plans, and pricing, our fast and reliable network, and our highly engaged associates."

    2014 Estimated Results

    U.S. Cellular's estimates of full-year 2014 results are shown below. Such estimates represent U.S. Cellular's view as of August 1, 2014. Such forward?looking statements should not be assumed to be current as of any future date. U.S. Cellular undertakes no duty to update such information, whether as a result of new information, future events or otherwise. There can be no assurance that final results will not differ materially from such estimated results.

    2014 Estimated Results ---------------------- Current Previous ------- -------- (Dollars in millions) Total operating revenues $3,900-$4,000 N/A Adjusted income before income taxes (1) $350-$450 N/A Capital expenditures $640 Unchanged

    (1) Adjusted income before income taxes is defined as income before income taxes, adjusted for the items set forth in the reconciliation below. Adjusted income before income taxes excludes these items in order to show operating results on a more comparable basis from period to period. From time to time, U.S. Cellular may exclude other items from adjusted income before income taxes if such items help reflect operating results on a more comparable basis. U.S. Cellular does not intend to imply that any such items that are excluded are non-recurring, infrequent or unusual; such items may occur in the future. Adjusted income before income taxes is not a measure of financial performance under Generally Accepted Accounting Principles in the United States ("GAAP") and should not be considered as an alternative to income before income taxes as an indicator of the company's operating performance or as an alternative to cash flows from operating activities, determined in accordance with GAAP, as an indicator of cash flows or as a measure of liquidity. U.S. Cellular believes adjusted income before income taxes is a useful measure of U.S. Cellular's operating results before significant recurring non-cash charges, discrete gains and losses, and financing charges (interest expense). The following table provides a reconciliation of income before income taxes to adjusted income before income taxes for 2014 estimated results, six months ended June 30, 2014 actual results, and year ended December 31, 2013 actual results:

    Actual Results -------------- 2014 Estimated Results Six Months Ended Year Ended June 30, 2014 December 31, 2013 ------------- ----------------- (Dollars in millions) Income (loss) before income taxes ($189)-($89) $1 $258 Depreciation, amortization and accretion expense $630 $316 $804 (Gain) loss on sale of business and other exit costs, net ($50) ($17) ($247) (Gain) loss on license sales and exchanges ($91) ($91) ($255) (Gain) loss on investments ? ? ($19) Interest expense $50 $29 $44 --- --- --- Adjusted income before income taxes $350-$450 $238 $585 ========= ==== ====

    Conference Call Information
    U.S. Cellular will hold a conference call on Aug. 1, 2014 at 9:30 a.m. CDT.

    --  Access the live call on the Events & Presentation page of
    investors.uscellular.com or at
    www.videonewswire.com/event.asp?id=100144.
    --  Access the call by phone at 877/407-8029 (US/Canada), no pass code
    required.
    

    Before the call, certain financial and statistical information to be discussed during the call will be posted to investors.uscellular.com. The call will be archived on the Events & Presentations page of investors.uscellular.com.

    About U.S. Cellular
    United States Cellular Corporation provides a comprehensive range of wireless products and services, excellent customer support, and a high-quality network to 4.7 million customers in 23 states. The Chicago-based company had 6,400 full- and part-time associates as of June 30, 2014. At the end of the second quarter of 2014, Telephone and Data Systems, Inc. owned 84 percent of U.S. Cellular. For more information about U.S. Cellular, visit uscellular.com.

    Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: impacts of any pending acquisition and divestiture transactions, including, but not limited to, the ability to obtain regulatory approvals, successfully complete the transactions and the financial impacts of such transactions; the ability of the company to successfully manage and grow its markets; the overall economy; competition; the ability to obtain or maintain roaming arrangements with other carriers on acceptable terms; the state and federal telecommunications regulatory environment; the value of assets and investments; adverse changes in the ratings afforded TDS and U.S. Cellular debt securities by accredited ratings organizations; industry consolidation; advances in telecommunications technology; uncertainty of access to the capital markets; pending and future litigation; changes in income tax rates, laws, regulations or rulings; acquisitions/divestitures of properties and/or licenses; changes in customer growth rates, average monthly revenue per user, churn rates, roaming revenue and terms, the availability of wireless devices, or the mix of products and services offered by U.S. Cellular. Investors are encouraged to consider these and other risks and uncertainties that are discussed in the Form 8-K Current Report used by U.S. Cellular to furnish this press release to the Securities and Exchange Commission ("SEC"), which are incorporated by reference herein.


    United States Cellular Corporation Total Markets* Summary Operating Data (Unaudited) As of or for the Quarter Ended 6/30/2014 3/31/2014 12/31/2013 9/30/2013 6/30/2013 ------------------------------ --------- --------- ---------- --------- --------- Retail Customers Postpaid Total at end of period 4,148,000 4,174,000 4,267,000 4,343,000 4,412,000 Gross additions 190,000 197,000 176,000 165,000 165,000 Net additions (losses) (26,000) (93,000) (71,000) (60,000) (120,000) ARPU (1) $56.82 $57.59 $53.53 $54.64 $54.18 Churn rate (2) 1.7% 2.3% 1.9% 1.7% 2.0% Smartphone penetration (3) 55.3% 53.1% 50.8% 47.1% 45.5% Prepaid Total at end of period 352,000 356,000 343,000 370,000 381,000 Gross additions 65,000 85,000 63,000 65,000 77,000 Net additions (losses) (4,000) 13,000 (26,000) (11,000) (7,000) ARPU (1) $34.02 $32.22 $31.66 $28.72 $31.69 Churn rate (2) 6.5% 6.9% 8.3% 6.8% 6.8% Total customers at end of period 4,653,000 4,684,000 4,774,000 4,875,000 4,968,000 Billed ARPU (1) $53.36 $53.93 $50.25 $50.92 $50.60 Service revenue ARPU (1) $60.32 $60.19 $57.05 $58.36 $57.45 Smartphones sold as a percent of total 72.6% 73.0% 79.6% 65.2% 66.0% devices sold Total population Consolidated markets (4) 54,817,000 54,817,000 58,013,000 84,025,000 84,025,000 Consolidated operating markets (4) 31,729,000 31,729,000 31,759,000 31,822,000 31,822,000 Market penetration at end of period Consolidated markets (5) 8.5% 8.5% 8.2% 5.8% 5.9% Consolidated operating markets (5) 14.7% 14.8% 15.0% 15.3% 15.6% Capital expenditures (000s) $143,927 $89,581 $208,135 $242,459 $168,497 Total cell sites in service 6,183 6,165 6,975 7,687 7,748 Owned towers 4,457 4,448 4,448 4,422 4,411

    * Represents U.S. Cellular's consolidated markets. These results include markets which U. S. Cellular currently consolidates, or previously consolidated in the periods presented, and are not adjusted in prior periods for subsequent divestitures or deconsolidations. Refer to U.S. Cellular's Form 8-K filed on August 2, 2013 for pro forma financial information related to the Divestiture Transaction and the NY1 and NY2 Deconsolidation for the three and six months ended June 30, 2013, as if the transactions had occurred at the beginning of the period.

    United States Cellular Corporation Core* Markets Summary Operating Data (Unaudited) As of or for the Quarter Ended 6/30/2014 3/31/2014 12/31/2013 9/30/2013 6/30/2013 ------------------------------ --------- --------- ---------- --------- --------- Retail Customers Postpaid Total at end of period 4,148,000 4,174,000 4,267,000 4,343,000 4,412,000 Gross additions 190,000 197,000 176,000 165,000 165,000 Net additions (losses) (26,000) (93,000) (71,000) (60,000) (53,000) ARPU (1) $56.82 $57.59 $53.53 $54.64 $54.44 Churn rate (2) 1.7% 2.3% 1.9% 1.7% 1.6% Smartphone penetration (3) 55.3% 53.1% 50.8% 47.1% 45.5% Prepaid Total at end of period 352,000 356,000 343,000 370,000 381,000 Gross additions 65,000 85,000 63,000 65,000 76,000 Net additions (losses) (4,000) 13,000 (26,000) (11,000) 8,000 ARPU (1) $34.02 $32.22 $31.66 $28.72 $31.65 Churn rate (2) 6.5% 6.9% 8.3% 6.8% 6.0% Total customers at end of period 4,653,000 4,684,000 4,774,000 4,875,000 4,968,000 Billed ARPU (1) $53.36 $53.93 $50.25 $50.92 $50.98 Service revenue ARPU (1) $60.32 $60.19 $57.05 $58.36 $57.88 Smartphones sold as a percent of total 72.6% 73.0% 79.6% 65.2% 66.1% devices sold Total population Consolidated markets (4) 54,817,000 54,817,000 58,013,000 84,025,000 84,025,000 Consolidated operating markets (4) 31,729,000 31,729,000 31,759,000 31,822,000 31,822,000 Market penetration at end of period Consolidated markets (5) 8.5% 8.5% 8.2% 5.8% 5.9% Consolidated operating markets (5) 14.7% 14.8% 15.0% 15.3% 15.6% Capital expenditures (000s) $143,927 $89,581 $211,247 $239,332 $171,166 Total cell sites in service 6,183 6,165 6,161 6,127 6,113 Owned towers 3,892 3,883 3,883 3,857 3,846

    * U.S. Cellular's Core Markets excludes the results of the Divestiture Markets and NY1 and NY2 Partnerships for the periods presented. Refer to U.S. Cellular's Form 8-K filed on August 2, 2013 for pro forma financial information related to the Divestiture Transaction and the NY1 and NY2 Deconsolidation for the three and six months ended June 30, 2013, as if the transactions had occurred at the beginning of the period. (1) ARPU metrics are calculated by dividing a revenue base by an average number of customers by the number of months in the period. These revenue bases and customer populations are shown below: a. Postpaid ARPU consists of total postpaid service revenues and postpaid customers. b. Prepaid ARPU consists of total prepaid service revenues and prepaid customers. c. Billed ARPU consists of total retail service or "billed" revenues (total postpaid, prepaid and reseller service revenues) and postpaid, prepaid and reseller customers. d. Service revenue ARPU consists of total retail service revenues, inbound roaming and other service revenues and postpaid, prepaid and reseller customers. (2) Churn metrics represent the percentage of the postpaid or prepaid customers that disconnect service each month. These metrics represent the average monthly postpaid or prepaid churn rate for each respective period. (3) Smartphones represent wireless devices which run on an Android, Apple, BlackBerry or Windows Mobile operating system, excluding tablets. Smartphone penetration is calculated by dividing postpaid smartphone customers by total postpaid customers. (4) The decrease in the population of Consolidated markets is due primarily to the divestiture of the Mississippi Valley non- operating license in October 2013 and the majority of the St. Louis area non- operating market license in March 2014. Total Population is used only to calculate market penetration of consolidated markets and consolidated operating markets, respectively. See footnote (5) below. (5) Market penetration is calculated by dividing the number of wireless customers at the end of the period by the total population of consolidated markets and consolidated operating markets, respectively, as estimated by Claritas. The increase in penetration is due primarily to a lower denominator as a result of the license divestitures described in footnote (4) above.


    United States Cellular Corporation Consolidated Statement of Operations Highlights Three Months Ended June 30, (Unaudited, dollars and shares in thousands, except per share amounts) Change ------ 2014 2013 Amount Percent ---- ---- ------ ------- Operating revenues Service $843,473 $910,966 $(67,493) (7%) Equipment sales 114,300 84,164 30,136 36% Total operating revenues 957,773 995,130 (37,357) (4%) ------- ------- ------- Operating expenses System operations (excluding Depreciation, amortization and accretion 187,131 192,267 (5,136) (3%) reported below) Cost of equipment sold 271,978 217,070 54,908 25% Selling, general and administrative 404,252 404,127 125 - Depreciation, amortization and accretion 148,337 202,580 (54,243) (27%) (Gain) loss on asset disposals, net 6,893 9,018 (2,125) (24%) (Gain) loss on sale of business and other exit costs, net (10,511) (249,024) 238,513 96% Total operating expenses 1,008,080 776,038 232,042 30% --------- ------- ------- Operating income (loss) (50,307) 219,092 (269,399) >(100%) Investment and other income (expense) Equity in earnings of unconsolidated entities 33,120 35,602 (2,482) (7%) Interest and dividend income 1,573 969 604 62% Gain (loss) on investments - 18,527 (18,527) N/M Interest expense (14,336) (10,154) (4,182) (41%) Other, net 100 321 (221) (69%) Total investment and other income 20,457 45,265 (24,808) (55%) ------ ------ ------- Income (loss) before income taxes (29,850) 264,357 (294,207) >(100%) Income tax expense (benefit) (10,399) 120,682 (131,081) >(100%) Net income (loss) (19,451) 143,675 (163,126) >(100%) Less: Net income (loss) attributable to noncontrolling interests, net of tax (662) 284 (946) >(100%) Net income (loss)attributable to U.S. Cellular shareholders $(18,789) $143,391 $(162,180) >(100%) ======== ======== ========= Basic weighted average shares outstanding 84,341 83,845 496 1% Basic earnings (loss) per share attributable to U.S. Cellular shareholders $(0.22) $1.71 $(1.93) >(100%) ====== ===== ====== Diluted weighted average shares outstanding 84,341 84,661 (320) - Diluted earnings (loss) per share attributable to U.S. Cellular shareholders $(0.22) $1.69 $(1.91) >(100%) ====== ===== ======


    United States Cellular Corporation Consolidated Statement of Operations Highlights Six Months Ended June 30, (Unaudited, dollars and shares in thousands, except per share amounts) Change ------ 2014 2013 Amount Percent ---- ---- ------ ------- Operating revenues Service $1,697,086 $1,907,315 $(210,229) (11%) Equipment sales 186,498 169,561 16,937 10% Total operating revenues 1,883,584 2,076,876 (193,292) (9%) --------- --------- -------- Operating expenses System operations (excluding Depreciation, amortization and accretion 367,738 408,566 (40,828) (10%) reported below) Cost of equipment sold 542,452 458,761 83,691 18% Selling, general and administrative 799,816 824,207 (24,391) (3%) Depreciation, amortization and accretion 316,090 392,425 (76,335) (19%) (Gain) loss on asset disposals, net 8,827 14,452 (5,625) (39%) (Gain) loss on sale of business and other exit costs, net (17,411) (242,093) 224,682 93% (Gain) loss on license sales and exchanges (91,446) - (91,446) N/M Total operating expenses 1,926,066 1,856,318 69,748 4% --------- --------- ------ Operating income (loss) (42,482) 220,558 (263,040) >(100%) Investment and other income (expense) Equity in earnings of unconsolidated entities 70,195 62,437 7,758 12% Interest and dividend income 2,457 1,872 585 31% Gain (loss) on investments - 18,527 (18,527) N/M Interest expense (29,198) (21,064) (8,134) (39%) Other, net 186 106 80 75% Total investment and other income 43,640 61,878 (18,238) (29%) ------ ------ ------- Income before income taxes 1,158 282,436 (281,278) (100%) Income tax expense 2,205 128,051 (125,846) (98%) Net income (loss) (1,047) 154,385 (155,432) >(100%) Less: Net income (loss) attributable to noncontrolling interests, net of tax (1,740) 6,080 (7,820) >(100%) Net income attributable to U.S. Cellular shareholders $693 $148,305 $(147,612) (100%) ==== ======== ========= Basic weighted average shares outstanding 84,277 83,842 435 1% Basic earnings per share attributable to U.S. Cellular shareholders $0.01 $1.77 $(1.76) (99%) ===== ===== ====== Diluted weighted average shares outstanding 85,041 84,655 386 - Diluted earnings per share attributable to U.S. Cellular shareholders $0.01 $1.75 $(1.74) (99%) ===== ===== ======


    United States Cellular Corporation Consolidated Balance Sheet Highlights (Unaudited, dollars in thousands) ASSETS June 30, December 31, 2014 2013 ---- ---- Current assets Cash and cash equivalents $404,058 $342,065 Short-term investments 40,035 50,104 Accounts receivable from customers and others 480,488 586,595 Inventory, net 199,859 238,188 Prepaid expenses 63,836 65,596 Net deferred income tax asset 99,105 99,105 Other current assets 20,908 19,538 1,308,289 1,401,191 --------- --------- Assets held for sale - 16,027 Investments Licenses 1,437,831 1,401,126 Goodwill 387,524 387,524 Investments in unconsolidated entities 270,215 265,585 2,095,570 2,054,235 --------- --------- Property, plant and equipment In service and under construction 7,670,466 7,717,512 Less: Accumulated depreciation 4,909,062 4,860,992 2,761,404 2,856,520 --------- --------- Other assets and deferred charges 133,704 117,735 ------- ------- Total assets $6,298,967 $6,445,708 ========== ==========


    United States Cellular Corporation Consolidated Balance Sheet Highlights (Unaudited, dollars in thousands) LIABILITIES AND EQUITY June 30, December 31, 2014 2013 ---- ---- Current liabilities Current portion of long-term debt $46 $166 Accounts payable Affiliated 9,937 11,243 Trade 348,223 405,583 Customer deposits and deferred revenues 267,533 256,740 Accrued taxes 51,249 73,820 Accrued compensation 54,993 66,566 Other current liabilities 139,229 192,055 871,210 1,006,173 ------- --------- Deferred liabilities and credits Net deferred income tax liability 822,205 836,297 Other deferred liabilities and credits 318,793 315,073 Long-term debt 876,715 878,032 Noncontrolling interests with redemption features 911 536 Equity U.S. Cellular shareholders' equity Series A Common and Common Shares, par value $1 per share 88,074 88,074 Additional paid- in capital 1,434,045 1,424,729 Treasury shares (161,137) (164,692) Retained earnings 2,032,355 2,043,095 Total U.S. Cellular shareholders' equity 3,393,337 3,391,206 Noncontrolling interests 15,796 18,391 ------ ------ Total equity 3,409,133 3,409,597 Total liabilities and equity $6,298,967 $6,445,708 ========== ==========


    United States Cellular Corporation Schedule of Cash and Cash Equivalents and Investments (Unaudited, dollars in thousands) The following table presents U.S. Cellular's cash and cash equivalents and investments at June 30, 2014 and December 31, 2013. June 30, December 31, 2014 2013 ---- ---- Cash and cash equivalents $404,058 $342,065 Amounts included in short- term investments (1)(2) U.S. Treasury Notes 40,035 50,104 Total cash and cash equivalents and investments $444,093 $392,169 ======== ========

    (1) Designated as held-to-maturity investments and are recorded at amortized cost on the Consolidated Balance Sheet. (2) Maturities are less than twelve months from the respective balance sheet dates.


    United States Cellular Corporation Consolidated Statement of Cash Flows Six Months Ended June 30, (Unaudited, dollars in thousands) 2014 2013 ---- ---- Cash flows from operating activities Net income (loss) $(1,047) $154,385 Add (deduct) adjustments to reconcile net income to cash flows from operating activities Depreciation, amortization and accretion 316,090 392,425 Bad debts expense 49,083 32,715 Stock-based compensation expense 10,560 6,530 Deferred income taxes, net (13,267) (26,527) Equity in earnings of unconsolidated entities (70,195) (62,437) Distributions from unconsolidated entities 65,565 45,370 (Gain) loss on asset disposals, net 8,827 14,452 (Gain) loss on sale of business and other exit costs, net (17,411) (242,093) (Gain) loss on investments - (18,527) (Gain) loss on license sales and exchanges (91,446) - Noncash interest expense 540 526 Other operating activities 57 489 Changes in assets and liabilities from operations Accounts receivable 52,471 (1,544) Inventory 38,329 (7,644) Accounts payable - trade (34,666) 67,457 Accounts payable - affiliate (1,934) 4,734 Customer deposits and deferred revenues 10,793 8,663 Accrued taxes (20,280) 147,566 Accrued interest 61 176 Other assets and liabilities (89,270) (68,131) ------- ------- 212,860 448,585 ------- ------- Cash flows from investing activities Cash used for additions to property, plant and equipment (262,397) (323,157) Cash paid for acquisitions and licenses (17,245) (14,150) Cash received from divestitures 125,905 480,000 Cash received for investments 10,000 - Other investing activities 836 3,993 (142,901) 146,686 -------- ------- Cash flows from financing activities Repayment of long-term debt (28) (71) Common shares reissued for benefit plans, net of tax payments 830 (2,206) Common shares repurchased (8,298) (18,425) Dividends paid - (482,270) Distributions to noncontrolling interests (482) (3,292) Other financing activities 12 56 (7,966) (506,208) ------ -------- Net increase in cash and cash equivalents 61,993 89,063 Cash and cash equivalents Beginning of period 342,065 378,358 End of period $404,058 $467,421 ===

    United States Cellular Corporation Financial Measures and Reconciliations (Unaudited, dollars in thousands) Three Months Ended Six Months Ended June 30, June 30, -------- -------- 2014 2013 2014 2013 ---- ---- ---- ---- Cash flows from operating activities $149,324 $224,970 $212,860 $448,585 Add: Sprint Cost Reimbursement 22,862 - 34,116 - Less: Cash used for additions to property, 152,899 172,133 262,397 323,157 plant and equipment Adjusted free cash flow (1) $19,287 $52,837 $(15,421) $125,428 ======= ======= ======== ========

    (1) Adjusted free cash flow is defined as Cash flows from operating activities, as adjusted for cash proceeds from the Sprint Cost Reimbursement (which are included in Cash flows from investing activities in the Consolidated Statement of Cash Flows), less Cash used for additions to property, plant and equipment. Adjusted free cash flow is a non-GAAP financial measure which U.S. Cellular believes may be useful to investors and other users of its financial information in evaluating the amount of cash generated by business operations (including cash proceeds from the Sprint Cost Reimbursement), after Cash used for additions to property, plant and equipment. The prior manner of calculating free cash flow has been adjusted to include the Sprint Cost Reimbursement. The reason for this is that the Sprint decommissioning cash outflows are included in "Cash flows from operating activities," but the reimbursements from Sprint related to these outflows are not included in this caption.

    United States Cellular Corporation

    CONTACT: Jane McCahon, Vice President, Corporate Relations and Corporate
    Secretary, 312-592-5379, jane.mccahon@teldta.com; or Julie Mathews,
    Investor Relations Manager, 312-592-5341, julie.mathews@teldta.com

    Web site: http://www.uscellular.com/




    Geeknet Announces Second Quarter 2014 Financial Results and Acquisition of Treehouse Brand StoresRevenue increases 6% in the second quarter to $23.4 million

    FAIRFAX, Va., Aug. 1, 2014 /PRNewswire/ --Geeknet, Inc. , the parent company of online retailer ThinkGeek.com, today announced financial results for the second quarter ended June 30, 2014. The company also announced the acquisition of substantially all of the assets and certain of the liabilities of Treehouse Brand Stores, LLC effective today for $1.5 million of initial cash consideration and total cash consideration of up to $3.5 million, to be paid based on the achievement of certain performance metrics.

    http://photos.prnewswire.com/prnvar/20120510/MM05555LOGO

    Total revenue for the second quarter of 2014 was $23.4 million, an increase of 6% from $22.0 million in the second quarter of 2013. Net loss for the second quarter of 2014 was $4.1 million or $0.62 per diluted share compared to net loss of $1.5 million or $0.23 per diluted share for the same period a year ago. Adjusted EBITDA loss for the second quarter of 2014 was $3.0 million, compared to an adjusted EBITDA loss of $0.4 million for the same period a year ago.

    Second Quarter Highlights:

    --  Wholesale revenue grew to $5.6MM, up 48% when compared to the second
    quarter of 2013
    --  We delivered over 474 new products to our customers, including 74
    exclusive items
    --  Our conversion rate improved to 1.67% from 1.44% in 2013
    

    "ThinkGeek grew revenue 6% in a competitive retail environment. We delivered strong growth from our GeekLabs exclusive products and our wholesale segment. Despite softer site revenues and pressure on margins this quarter, our entire team is focused on the upcoming fall and holiday seasons. To celebrate our fifteenth anniversary, but more importantly to improve the customer experience, ThinkGeek has launched a major brand refresh campaign including the redesign of our web site," said Katy McCarthy, Chief Executive Officer.

    "A critical element of our strategic plan is to build out our platform to increase the customer base. Since 2009, Treehouse Brand Stores has worked directly with major video game publishers to engage fans with their unique and exclusive products. This acquisition enables Geeknet to establish official web stores under exclusive licenses while adding creative talent and expertise to our company," said McCarthy. "I am excited to join Geeknet and can't wait to work together to accelerate growth, while continuing to deliver even more of the unique merchandise our fans have come to expect," said Jed Seigle, President of Treehouse Brands.

    Supplemental schedules of the Company's quarterly statements of operations and operational statistics are available on the Company's web site at investors.geek.net.

    A conference call and audio webcast will be held at 11:00 am ET on August 1, 2014 and may be accessed by calling (877) 348-9353 or (253) 237-1159 outside the U.S., or by visiting investors.geek.net. A dial in replay will be available from 4:00 PM ET August 1, 2014 until 11:59 pm ET August 3, 2014 by calling (855) 859-2056, with conference ID 73137452.

    About Geeknet, Inc.

    ThinkGeek, Inc., a wholly owned subsidiary of Geeknet, Inc. , is the premier retailer for the global geek community. Since 1999, ThinkGeek has been creating a world where everyone can express their inner geek, embrace their passions, and connect with each other. Our obsession is creating and sharing unique and authentic product experiences that stimulate our fans' imaginations and fuel their geek core. We believe that there is a geek in everyone and that it should be celebrated. Want to learn more? Check out thinkgeek.com or geek.net.

    Use of Non-GAAP Financial Measures

    In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, we also report adjusted EBITDA. The method we use to calculate adjusted EBITDA is not in accordance with GAAP, is likely to differ from the methods used by other companies for similarly titled measures and should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

    We believe that adjusted EBITDA provides useful information to both management and investors and is an additional measurement which may be used to evaluate our operating performance. Our management and Board of Directors use adjusted EBITDA as part of their reporting and planning process and it is the primary measure we use to evaluate our operating performance. In addition, we have historically reported adjusted EBITDA to the investment community. We also believe that the financial analysts who regularly follow and report on us and the business sector in which we compete use adjusted EBITDA to prepare their financial performance estimates to measure our performance against other sector participants and to project our future financial results.

    We define adjusted EBITDA as earnings or loss from continuing operations before interest and other expense, income taxes, stock-based compensation and depreciation and amortization. Adjusted EBITDA excludes certain expenses that we believe are not directly related to our core operating results. Although some of the items may recur on a regular basis, management does not consider activities associated with these items as core to its operations. With respect to stock-based compensation, we recognize expenses associated with stock-based compensation that require management to make assumptions about our common stock, such as expected future stock price volatility, the anticipated duration of outstanding stock options and awards and the forfeiture rate. While other forms of expenses (such as cash compensation, inventory costs and real estate costs) are reasonably correlated to our underlying business and such costs are incurred principally or wholly in the particular fiscal period being reported, stock-based compensation expense is not reasonably correlated to the particular fiscal period in question, but rather is based on expected future events that have no relationship (and in certain instances, an inverse relationship) with how well we currently operate our business.

    NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, and involve risks and uncertainties. Forward-looking statements contained herein include statements regarding our strategic plan and future growth, as well as statements regarding the impact of our acquisition of the Treehouse Brand Stores business. Actual results may differ materially from those expressed or implied in such forward-looking statements due to various factors, including: popularity and demand for our retail products; management's strategy, plans and objectives for future operations; employee relations and our ability to attract and retain highly qualified personnel; our ability to continue to invest in developing and acquiring new products; competition, competitors and our ability to compete; liquidity and capital resources; the outcome of any litigation to which we are a party; our accounting policies; sufficiency of our cash resources and investments to meet our operating and working capital requirements; our ability to successfully integrate the acquired assets and operations of Treehouse Brand Stores; our ability to realize the anticipated growth, synergies and other benefits from our acquisition of the Treehouse Brand Stores business; and our ability to retain relationships with key employees, vendors, licensors and customers of Treehouse Brand Stores. Investors should consult our filings with the Securities and Exchange Commission, sec.gov, including the risk factors section of our Annual Report on Form 10-K for the year ended December 31, 2013, for further information regarding these and other risks of our business. All forward-looking statements included in this press release are based upon information available to us as of the date hereof, and we do not assume any obligations to update such statements or the reasons why actual results could differ materially from those projected in such statements.

    GEEKNET, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data, unaudited) Three Months Ended Six Months Ended June 30, June 30, -------- -------- 2014 2013 2014 2013 ---- ---- ---- ---- Net revenue $23,395 $22,004 $46,086 $41,561 Cost of revenue 19,935 17,595 38,801 33,532 ------ ------ ------ ------ Gross margin 3,460 4,409 7,285 8,029 ----- ----- ----- ----- Operating expenses: Sales and marketing 2,991 1,919 5,496 3,642 Technology and design 2,071 1,494 3,940 2,898 General and administrative 2,613 2,473 4,432 5,257 Total operating expenses 7,675 5,886 13,868 11,797 ----- ----- ------ ------ Loss from operations (4,215) (1,477) (6,583) (3,768) Interest and other income (expense), net 66 (13) 189 (27) --- --- --- --- Loss from continuing operations before income taxes (4,149) (1,490) (6,394) (3,795) Income tax provision - - - 3 --- --- --- --- Net loss from continuing operations (4,149) (1,490) (6,394) (3,798) ------ ------ ------ ------ Discontinued operations: Loss from discontinued operations, net of tax - (41) - (69) --- --- --- --- Net loss $(4,149) $(1,531) $(6,394) $(3,867) ======= ======= ======= ======= Loss per share from continuing operations: Basic and diluted $(0.62) $(0.22) $(0.96) $(0.57) ====== ====== ====== ====== Loss per share from discontinued operations: Basic and diluted $ - $(0.01) $ - $(0.01) === === ====== === === ====== Net loss per share: Basic and diluted $(0.62) $(0.23) $(0.96) $(0.58) ====== ====== ====== ====== Shares used in per share calculations: Basic and diluted 6,694 6,638 6,676 6,612

    GEEKNET, INC. CONSOLIDATED BALANCE SHEETS (In thousands, unaudited) June 30, 2014 December 31, 2013 ------------- ----------------- ASSETS Current assets: Cash and cash equivalents $45,277 $53,084 Accounts receivable, net of allowance of $1 and $6 as of June 30, 2014 and December 31, 2013, respectively 4,074 9,719 Inventories, net 17,738 20,186 Prepaid expenses and other current assets 3,708 4,202 ----- ----- Total current assets 70,797 87,191 Property and equipment, net 1,952 2,465 Other long-term assets 84 50 --- Total assets $72,833 $89,706 ======= ======= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $3,441 $10,250 Deferred revenue 1,842 2,828 Accrued and other liabilities 3,224 6,661 ----- ----- Total current liabilities 8,507 19,739 ----- ------ Other long-term liabilities 14 - --- Total liabilities 8,521 19,739 ----- ------ Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock, $0.001 par value; 1,000 shares authorized; no shares issued or outstanding - - Common stock, $0.001 par value; authorized -25,000; issued -6,997 and 6,901 shares, as of June 30, 2014 and December 31, 2013, respectively; outstanding - 6,714 and 6,639 shares as of June 30, 2014 and December 31, 2013, respectively 7 7 Treasury stock (3,818) (3,479) Additional paid-in capital 817,904 816,826 Accumulated other comprehensive income 16 16 Accumulated deficit (749,797) (743,403) -------- -------- Total stockholders' equity 64,312 69,967 ------ ------ Total liabilities and stockholders' equity $72,833 $89,706 ======= =======

    GEEKNET, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited) Six Months Ended June 30, -------- 2014 2013 ---- ---- Cash flows from operating activities from continuing operations: Net loss $(6,394) $(3,867) Loss from discontinued operations, net of tax - 69 --- --- Loss from continuing operations (6,394) (3,798) Adjustments to reconcile loss from continuing operations to net cash used in operating activities: Depreciation and amortization expense 620 630 Stock-based compensation expense 1,055 1,464 Provision for bad debts (5) (3) Provision for inventory write- downs 66 427 Loss on disposal of assets, net - 2 Changes in assets and liabilities: Accounts receivable 5,650 (1,897) Inventories 2,382 1,960 Prepaid expenses and other assets 460 (359) Accounts payable (6,809) (5,868) Deferred revenue (986) (262) Accrued and other liabilities (3,437) (1,613) Other long-term liabilities 14 (15) Net cash used in operating activities (7,384) (9,332) ------ ------ Cash flows from investing activities: Purchase of property and equipment (103) (5) Net cash used in investing activities (103) (5) ---- --- Cash flows from financing activities: Proceeds from issuance of common stock 19 272 Repurchase of stock (339) (534) Net cash used in financing activities (320) (262) ---- ---- Cash flows from discontinued operations: Net cash used in operating activities - (41) Net cash used in discontinued operations - (41) --- --- Net change in cash and cash equivalents (7,807) (9,640) ------ ------ Cash and cash equivalents, beginning of year 53,084 57,294 Cash and cash equivalents, end of period $45,277 $47,654 ======= =======

    GEEKNET, INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (In thousands, unaudited) Three Months Ended June 30, Six Months Ended June 30, --------------------------- ------------------------- 2014 2013 2014 2013 Net loss - as reported $(4,149) $(1,531) $(6,394) $(3,867) Reconciling items: Loss from discontinued operations -net of tax - 41 - 69 Interest and other (income) expense, net (66) 13 (189) 27 Income tax provision - - - 3 Stock-based compensation expense included in cost of revenue 19 34 40 (120) Stock-based compensation expense included in operating expenses 856 773 1,015 1,584 Depreciation and amortization expense 307 314 620 630 Adjusted EBITDA $(3,033) $(356) $(4,908) $(1,674) ======= ===== ======= =======

    GEEKNET, INC. Segment Data (In thousands, unaudited) Website Wholesale Total ------- --------- ----- Three Months Ended June 30, 2014 Net revenue $17,833 $5,562 $23,395 Cost of revenue 16,116 3,819 19,935 ------ ----- ------ Gross margin $1,717 $1,743 $3,460 Gross margin % 9.6% 31.3% 14.8% Three Months Ended June 30, 2013 Net revenue $18,254 $3,750 $22,004 Cost of revenue 15,155 2,440 17,595 ------ ----- ------ Gross margin $3,099 $1,310 $4,409 Gross margin % 17.0% 34.9% 20.0% Six Months Ended June 30, 2014 Net revenue $35,712 $10,374 $46,086 Cost of revenue 31,738 7,063 38,801 ------ ----- ------ Gross margin $3,974 $3,311 $7,285 Gross margin % 11.1% 31.9% 15.8% Six Months Ended June 30, 2013 Net revenue $36,235 $5,326 $41,561 Cost of revenue 29,994 3,538 33,532 ------ ----- ------ Gross margin $6,241 $1,788 $8,029 Gross margin % 17.2% 33.6% 19.3%

    GKNT-F

    Photo: http://photos.prnewswire.com/prnh/20120510/MM05555LOGO Geeknet, Inc.

    CONTACT: ir@geek.net for Geeknet, Inc.

    Web site: http://www.geek.net/




    MICT to Announce Second Quarter Financial Results and Host Conference Call August 14, 2014

    MONTVALE, N.J., Aug. 1, 2014 /PRNewswire/ -- Micronet Enertec Technologies, Inc. announced today that it will release its financial results for the second quarter of 2014 on August 14, 2014 prior to the opening of the market. Management will host a conference call to discuss the results at 9:00am Eastern Time that day.

    We invite all those interested in participating in the call to dial: 1-888-668-9141. Callers from outside of the U.S may access the call by dialing 972-3-918-0609. Please dial a few minutes before 9:00am Eastern Time. Participants may also access a live webcast of the conference call through the Investor Relations section of Micronet Enertec's website by clicking here.

    A telephone replay of the call will be available for two weeks at: 1-877-456-0009, outside of the U.S: 972-3-3-925-5925.

    About Micronet Enertec Technologies, Inc.

    Micronet Enertec Technologies, Inc. ( MICT ), operates through three companies, Enertec Systems 2001 Ltd ("Enertec"), its wholly-owned subsidiary, its majority owned Micronet Ltd ("Micronet") and Micronet's wholly-owned subsidiary Micronet Inc. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems for missile defense systems, command and control and others. The Company's products, solutions and services are designed to perform in severe environments and battlefield conditions. For more information please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.

    Micronet Enertec Technologies, Inc.

    CONTACT: Miri Segal Scharia, Managing Partner Global Accounts & IPOs,
    Hayden/ MS-IR LLCTel: 917-607-8654, msegal@ms-ir.com, Tali Dinar, Micronet
    Enertec Technologies, Inc., Tel: +972-52-3384033, tali@micronet-enertec.com

    Web site: http://www.micronet-enertec.com/




    Halla Visteon Climate Control Completes Acquisition of Thermal and Emissions Product Line of Cooper-Standard Automotive

    DAEJEON, South Korea, Aug. 1, 2014 /PRNewswire/ -- Halla Visteon Climate Control Corp. (KS: 018880) today announced it has completed the acquisition of the automotive thermal and emissions product line of Cooper-Standard Automotive Inc., a subsidiary of Cooper-Standard Holdings Inc. , in a cash transaction valued at $46 million, subject to price adjustment. The transaction was announced by both companies on June 30.

    "We are pleased to have completed this acquisition, which provides HVCC with additional technologies that have a solid reputation, and that strengthen our ability to provide thermal energy management systems and modules to support customers' global platforms," said YH Park, HVCC president and CEO.

    The thermal and emissions product line acquired from Cooper Standard supports HVCC's focus on delivering fuel-efficient thermal energy management solutions to automakers. Products acquired include exhaust gas recirculation modules (EGRs), electronic coolant pumps and valves, electronic wastegate actuators and electronic throttle bodies.

    About Halla Visteon Climate Control
    Halla Visteon Climate Control (HVCC) is a full-line automotive supplier of climate systems and components. Products include heating ventilation and air conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid and fuel cell vehicle thermal systems. With 35 manufacturing sites supported by four global technical centers in 19 countries, HVCC employs nearly 14,500 people.

    HVCC is a 70-percent owned subsidiary of Visteon Corporation and is traded on the Korea Stock Exchange. Learn more at www.hvccglobal.com.

    About Visteon
    Visteon is a global automotive supplier delivering value for vehicle manufacturers and shareholders through two high-growth core businesses: automotive cockpit electronics and thermal management. Visteon owns 70 percent of Halla Visteon Climate Control Corp., the world's second largest provider of vehicle thermal management solutions. Visteon designs, engineers and manufactures innovative components and systems for virtually every vehicle manufacturer worldwide. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK; Visteon has facilities in 32 countries and employs about 29,000 people. Visteon had sales of $7.4 billion in 2013. Learn more at www.visteon.com.

    Halla Visteon Climate Control Corp.

    CONTACT: Jae Chung, +82-2-3498-5403, jchung4@hvccglobal.com, or Americas,
    Tracy Stallings, +1-734-710-5585, +1-313-418-8409 - mobile,
    tstallin@hvccglobal.com, or Europe, Veronika Prudilova, + 420-556-780-388,
    + 420-737-222-791 - mobile, vprudilo@hvccglobal.com

    Web site: http://www.hvccglobal.com/
    http://www.visteon.com/




    Scientific Games to Acquire Bally Technologies In Transaction Valued at $5.1 BillionCombination Will Expand Global Capabilities to Deliver Innovative Gaming, Lottery and Social Content, World-Class Systems Solutions and Value-added Services Across Multiple Distribution Channels and PlatformsTransaction Expected to be Immediately Accretive to Scientific Games' EPS and Cash Flow$220 Million in Annual Cost Synergies and $25 Million in Annual Capital Expenditure Savings Anticipated to be Realized by End of Second Year After ClosingConference Call Today at 8:30 am EDT, (866) 318-8617

    NEW YORK and LAS VEGAS, Aug. 1, 2014 /PRNewswire/ -- Scientific Games Corporation ("Scientific Games") and Bally Technologies, Inc. ("Bally") today announced that the companies have entered into a definitive merger agreement whereby Scientific Games has agreed to acquire all of the outstanding Bally common stock for $83.30 in cash per share, which represents a 38 percent premium to Bally's closing stock price on July 31, 2014. The aggregate transaction value is approximately $5.1 billion, including the refinancing of approximately $1.8 billion of existing Bally net debt. The transaction was unanimously approved by the boards of directors of the two companies.

    "The acquisition of Bally provides us with a unique opportunity to combine two exceptional companies with long track records of creating leading-edge games and gaming technology products for players and delivering innovative solutions to our customers," said Gavin Isaacs, Scientific Games' President and Chief Executive Officer. "With leading gaming, lottery, and interactive content, world-class systems capabilities and table game offerings, we believe that the combined company will be uniquely positioned as a strategic partner for gaming and lottery operators, offering a highly diversified suite of value-enhancing products and services across multiple worldwide distribution channels and platforms."

    "Having worked side-by-side with the talented teams at Bally and more recently Scientific Games, I am confident this combination brings together best-of-breed cultures and is occurring at a truly opportune time as both companies are committed to bringing the highest value products and services to customers," continued Mr. Isaacs. "The combined company will feature world-class research and development capabilities, an expanded base of recurring revenues and greater worldwide penetration in key geographies, including the AustralAsia region. In addition to the strategic value of the transaction to our customers, we expect to create significant shareholder value as the transaction is expected to deliver immediate earnings and cash flow accretion and will allow us to meaningfully reduce our leverage over the next three to four years. Reflecting both organizations' recent post-merger integration successes, we have identified and expect to realize $220 million in annual cost synergies and $25 million of annual capital expenditure savings by the end of the second year following the closing of the transaction."

    "The combination with Scientific Games will benefit our customers and shareholders," said Richard Haddrill, Bally's Chief Executive Officer. "Increased scale, geographic diversity and product development capabilities will create a new runway of growth opportunities through new products and a comprehensive portfolio of customer-focused solutions. This transaction delivers immediate value to our shareholders, and the highest share price in our history. We look forward to working with our new colleagues at Scientific Games to execute a detailed integration plan to realize customer satisfaction and additional value."

    Expanded Portfolio and Improved Operating Efficiencies

    The transaction would expand Scientific Games' portfolio of products and solutions to include leading casino management systems and table products, including automatic shufflers, proprietary table games and electronic table systems. It would also expand the range of Scientific Games' social and real-money iGaming and iLottery products and services. This expanded portfolio is expected to position Scientific Games to better cross-utilize content and technology across the lottery, gaming and interactive sectors to propel future growth.

    The combined company is expected to have world-class global sourcing, production, engineering and product development capabilities, as well as a large installed global base of diverse recurring revenue products and services. Scientific Games and Bally generated combined revenue of approximately $3.0 billion in the 12-month period ended March 31, 2014.

    Scientific Games expects to achieve the anticipated $220 million of cost synergies and $25 million of capital expenditure savings by consolidating operations and generating efficiencies in the areas of manufacturing, engineering, field and customer service and administrative operations. Scientific Games anticipates incurring $75 million of costs to achieve the cost synergies and $40 million in capital costs to complete the integration of the companies. In addition, the combined company is expected to benefit from accelerated utilization of various tax attributes against U.S.-based pre-tax income.

    Transaction Terms

    Scientific Games would acquire all of the outstanding shares of Bally for $83.30 per share in cash, for a total transaction value of approximately $5.1 billion, including net debt of approximately $1.8 billion. The acquisition would be financed with debt and cash on hand and Scientific Games has obtained committed debt financing for the transaction, which is not subject to a financing contingency.

    The acquisition is subject to customary closing conditions, including receipt of Bally shareholder approval and antitrust and gaming regulatory approvals, and is currently expected to be completed in early 2015. Scientific Games and Bally are both licensed in more than 300 gaming jurisdictions worldwide, which is expected to help facilitate obtaining the required gaming regulatory approvals.

    Upon closing of the transaction, Mr. Isaacs will continue as President and Chief Executive Officer of Scientific Games, and it is anticipated that Mr. Haddrill and David Robbins, Chairman of the Board of Directors of Bally, will join the board of directors of Scientific Games, with Mr. Haddrill anticipated to serve as Vice Chairman.

    Financial and Legal Advisory

    BofA Merrill Lynch, Deutsche Bank Securities Inc. and J.P. Morgan served as the financial advisors to Scientific Games and Cravath, Swaine & Moore LLP served as the legal advisor to Scientific Games for the transaction. BofA Merrill Lynch, J.P. Morgan and Deutsche Bank Securities Inc. provided the committed debt financing for the transaction, and Latham & Watkins LLP served as the legal advisor to Scientific Games for such financing.

    Macquarie Capital served as lead financial advisor and Groton Partners served as co-financial advisor to Bally and Skadden, Arps, Slate, Meagher & Flom LLP served as the legal advisor to Bally.

    Conference Call Details

    Scientific Games management is hosting a conference call today, August 1, at 8:30 am EDT to review the proposed transaction. To access the call live via a listen-only webcast, please visit www.scientificgames.com and click on the webcast link under the Investors section. To access the call by telephone, please dial (866) 318-8617 (U.S. and Canada) or +1 (617) 399-5136 (international). The conference ID is SGMS. A replay of the webcast will be archived in the Investors section on our website.

    A presentation that will be reviewed on the call will be available in the Investors section on the Scientific Games website prior to the call. A replay of the webcast and accompanying presentation will be archived in the Investors section on the Scientific Games website.

    About Scientific Games

    Scientific Games Corporation is a leading developer of technology-based products and services and associated content for worldwide gaming and lottery markets. The Company's portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services. For more information, please visit: www.scientificgames.com.

    About Bally Technologies

    Founded in 1932, Bally Technologies provides the global gaming industry with innovative games, table game products, systems, mobile, and iGaming solutions that drive revenue and provide operating efficiencies for gaming operators. For more information, please visit http://www.ballytech.com. Connect with Bally on Facebook, Twitter, YouTube, LinkedIn, and Pinterest.

    Company Contacts

    Investor Relations:
    Scientific Games: Bill Pfund +1 847-785-3167
    Vice President, Investor Relations
    bill.pfund@scientificgames.com

    Bally: Mike Carlotti +1 702-532-7995
    Vice President of Treasury and Investor Relations
    mcarlotti@ballytech.com

    Media Relations:
    Scientific Games: Mollie Cole +1 773-961-1194
    Director, Corporate Communications
    mollie.cole@scientificgames.com

    Bally: Laura Olson-Reyes +1 702-532-7742
    Senior Director, Marketing & Corporate Communications
    lolson-reyes@ballytech.com

    Bally: Mike Trask +1 702-532-7451
    Senior Manager, Corporate Communications
    mtrask@ballytech.com

    Forward-Looking Statements

    This press release includes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may," "will," "estimate," "intend," "plan," "continue," "believe," "expect," "anticipate," "estimate," "should," "could," "potential," "opportunity," or similar terminology. These statements are based upon management's current expectations, beliefs, assumptions and estimates and are not guarantees of timing, future results or performance. Similarly, statements herein that describe the proposed transaction, including its financial impact, and other statements of management's expectations, beliefs, assumptions, estimates and goals regarding the proposed transaction are forward-looking statements. It is uncertain whether any of the events or results anticipated by the forward-looking statements (including consummation of the proposed transaction) will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined company or the price of Scientific Games' or Bally's stock. These forward-looking statements involve certain risks and uncertainties and other factors that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: uncertainties as to the timing of the consummation of the proposed transaction and the ability of the parties to consummate the proposed transaction; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the approval of Bally's stockholders; the ability to obtain required regulatory and gaming approvals at all or in a timely manner; the ability to obtain the debt financing necessary to consummate the proposed transaction; litigation related to the proposed transaction; disruption of Bally's or Scientific Games' current plans and operations as a result of the proposed transaction; the ability of Bally or Scientific Games to retain and hire key personnel; competitive responses to the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; the ability of Scientific Games to successfully integrate Bally's operations, product lines and technology; the ability of Scientific Games to implement its plans, forecasts and other expectations with respect to Bally's business after the completion of the transaction and realize additional opportunities for growth and innovation; the ability of Scientific Games to realize the anticipated synergies from the proposed transaction in the anticipated amounts or within the anticipated timeframes or costs expectations or at all; the ability to maintain relationships with Scientific Games' and Bally's respective employees, customers, other business partners and governmental authorities; and the other risks, uncertainties and important factors contained and identified (including under the heading "Risk Factors") in Scientific Games' and Bally's filings with the Securities and Exchange Commission (the "SEC"), such as their respective Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and, except for Scientific Games' and Bally's ongoing obligations under U.S. federal securities laws, neither Scientific Games nor Bally undertakes any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Bally is responsible for the information in this press release concerning Bally and Scientific Games is responsible for the information in this release concerning Scientific Games. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

    Non-GAAP Financial Measures

    Combined revenue as used herein is a non-GAAP measurement that is presented herein as a supplemental disclosure. As used herein, combined revenue reflects the arithmetic sum of Scientific Games' pro forma revenue (giving effect to the acquisition of WMS Industries Inc.) and Bally's pro forma revenue (giving effect to the acquisition of SHFL entertainment, Inc. and Dragonplay Ltd.) for the trailing 12-month period ended March 31, 2014. As used herein, combined revenue does not represent a "pro forma" amount determined in accordance with the SEC's rules and regulations, including Article 11 of Regulation S-X, does not reflect any pro forma adjustments resulting from the proposed transaction, and should not be taken to represent how the companies would have performed on a historical basis had the acquired operations been included in the period presented, or how the companies will perform in any future period. This non-GAAP financial measure, as well as the other information in this press release, should be read in conjunction with Scientific Games' and Bally's financial statements filed with the SEC.

    Additional Information and Where to Find It

    This communication is being made in respect of the proposed transaction involving Bally and Scientific Games. Bally intends to file with the SEC a proxy statement in connection with the proposed transaction with Scientific Games. Bally also intends to file with the SEC other documents regarding the proposed transaction. The definitive proxy statement will be sent or given to the stockholders of Bally and will contain important information about the proposed transaction and related matters. BALLY'S SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement and other relevant materials (when they become available), and any other documents filed by Bally with the SEC, may be obtained free of charge at the SEC's website, at www.sec.gov. In addition, security holders of Bally will be able to obtain free copies of the proxy statement from Bally by contacting Investor Relations by mail at Attn: Investor Relations, Bally Technologies, 6650 El Camino Road, Las Vegas, NV 89118.

    Participants in the Solicitation

    Scientific Games and Bally and their respective directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies in connection with the proposed merger. Information about Scientific Games' directors and executive officers is included in Scientific Games' Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 17, 2014 and the proxy statement for Scientific Games' 2014 annual meeting of stockholders, filed with the SEC on April 30, 2014. Information about Bally's directors and executive officers is included in Bally's Annual Report on Form 10-K for the fiscal year ended June 30, 2013 filed with the SEC on August 28, 2013 and in the proxy statement for Bally's 2013 annual meeting of stockholders, filed with the SEC on October 28, 2013. Additional information regarding these persons and their interests in the merger will be included in the proxy statement relating to the proposed merger when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

    Scientific Games Corporation

    Web site: http://www.scientificgames.com/




    Bell Aliant reports second quarter 2014 results
    --  Net earnings improve $6 million over Q2 2013
    --  Positive overall customer unit growth with best quarterly performance in
    Bell Aliant's history
    --  Internet and IPTV customer growth more than offsets network access
    services (NAS) declines
    --  High-speed Internet net additions more than double, up 7,700  from
    Q2 2013
    --  FibreOP(TM) Internet adds 17,100 net new customers to reach 217,100
    --  FibreOP TV adds 14,200 net new customers to reach 185,600
    --  Net NAS declines improve 8,400 (25.3 per cent) from Q2 2013
    --  Fibre-to-the-home (FTTH) passes 879,000 premises, on track to pass 1
    million premises by end of 2014
    --  BCE privatization offer of $31 per Bell Aliant share expected to close
    by November 30, 2014
    

    This news release contains forward-looking statements. For a description of the related risk factors and assumptions please see the section entitled "Forward-looking Information" later in this release.

    HALIFAX, Aug. 1, 2014 /CNW/ - Bell Aliant Inc. today reported financial results for the second quarter of 2014 for Bell Aliant Inc. (Bell Aliant) and Bell Aliant Regional Communications Inc. (Bell Aliant GP).

    "We achieved a significant milestone in the second quarter of 2014, growing our overall customer unit base with the best unit growth performance in Bell Aliant's history," said Karen Sheriff, president and chief executive officer, Bell Aliant. "Competition throughout our territory continues to be intense, and I am extremely pleased with the customer additions we have been able to achieve in this environment.

    "Our expanding fibre-to-the-home network with our FibreOP service offerings drove customer growth from high-speed Internet and IPTV to more than offset customer declines in our traditional legacy business. Not only did we achieve strong growth in our broadband services customer bases, we significantly improved customer declines in our legacy voice services.

    "Along with strong customer growth performance, in the second quarter of 2014, we also continued to demonstrate disciplined cost management, holding expenses essentially flat to the same quarter in 2013.

    "Our second quarter results were very much in line with our expectations and I am extremely proud of our team's continued solid execution of our strategy. Sticking to our plan has put us in the strong position we are today to provide value to both our customers and shareholders," concluded Ms. Sheriff.

    Privatization Offer

    On July 23, 2014, BCE and Bell Aliant announced that BCE had made an offer to take Bell Aliant private. Bell Aliant's board of directors, other than those who are BCE executives and therefore did not participate in the vote, have unanimously recommended that shareholders accept the offer. Under BCE's proposal, Bell Aliant public minority shareholders will receive cash and BCE common shares for a combined value of $31 per Bell Aliant share. Public minority shareholders of Bell Aliant can elect to receive, for each common share, either (a) $31 in cash, (b) 0.6371 of a BCE common share, or (c) $7.75 in cash and 0.4778 of a BCE common share. Shareholders electing alternative (a) or (b) will be subject to pro-ration such that the aggregate consideration will be paid 25 per cent in cash and 75 per cent in BCE common shares. As part of the offer, Bell Aliant will not pay a common dividend for the third quarter of 2014. For greater clarity, Bell Aliant public minority shareholders who elect to receive BCE common shares will not receive BCE's Q3 common share dividend on the BCE shares received through the tender process.

    BCE will also offer holders of preferred shares of Bell Aliant Preferred Equity Inc. (Prefco) the opportunity to exchange their Prefco preferred shares for BCE preferred shares with the same financial terms as the existing Prefco preferred shares, subject to terms and conditions of the offer. Completion of the Bell Aliant privatization is not conditional on completion of the preferred share exchange.

    "This transaction is a next logical step for Bell Aliant and provides attractive value for our minority shareholders," continued Ms. Sheriff. "It creates immediate value for them with an offer price at an approximate 11.6 per cent premium to Bell Aliant's weighted-average closing share price for the 20-day period ending July 22, 2014, and at the high end of the fair valuation range determined by an independent valuator. Taxable Canadian shareholders who receive BCE shares as consideration will generally be entitled to a roll-over to defer Canadian taxation on capital gains. And importantly, the transaction gives Bell Aliant public minority shareholders the opportunity to acquire ownership in BCE, a company with a strong asset mix, a history of strong dividend growth, and an attractive investment-grade credit profile, providing growth opportunities for public minority shareholders."

    BCE expects the privatization transaction to be completed by November 30, 2014, subject to more than 50 per cent of Bell Aliant common shares held by public minority shareholders being tendered to the offer, and other conditions set forth in the support agreement for the offer which is available under Bell Aliant's profile on www.sedar.com.

    Second Quarter 2014 Highlights(1)

    Bell Aliant Inc. reported net earnings of $72 million in the second quarter of 2014, up $6 million from the same quarter in 2013. The increase was driven by higher earnings in Bell Aliant GP, with lower finance and income tax expenses more than offsetting lower adjusted EBITDA and higher restructuring costs compared to the second quarter in 2013. Earnings per share and adjusted earnings per share for the second quarter of 2014 were $0.32 and $0.39 respectively, compared to $0.29 and $0.39 in the second quarter of 2013.

    Second quarter financial highlights of Bell Aliant GP are summarized as follows:

    (In millions of dollars) Q2 2014 Q2 2013 Change YTD YTD Change (unaudited) 2014 2013 ---------- ---- ---- Operating Revenue $683 $692 (1.3%) 1,358 1,375 (1.3%) ----------------- ---- ---- ----- ----- ----- ----- Adjusted EBITDA (1) 318 327 (2.6%) 635 650 (2.4%) --------------- --- --- ----- --- --- ----- Capital Expenditures 146 157 (6.6%) 281 285 (1.5%) ------------- --- --- ----- --- --- ----- Free Cash Flow (1) 131 153 (14.8%) 104(2) 248 (57.9%) ----------------- --- --- ------ ----- --- ------

    (1) Adjusted EBITDA, free cash flow and adjusted earnings per share are non-IFRS measures. Refer to the "Non-IFRS financial measures" section of Bell Aliant GP's Q2 2014 Management's Discussion and Analysis (MD&A) for details. (2) Free cash flow in 2014 included a one-time catch-up income tax payment of approximately $65 million in the first quarter of 2014 related to the elimination under applicable tax laws of the ability to defer partnership income.

    Operating revenues in the second quarter of 2014 were $683 million, down $9 million (1.3 per cent) from the same quarter in 2013. Growth in Internet, TV, other data, and wireless revenues was offset by declines in local, long distance, and other revenues. Operating expenses in the second quarter of 2014 declined $1 million from the same quarter in 2013, as continued savings from productivity initiatives offset normal inflationary pressures and growth in promotional and TV content costs from a growing FibreOP customer base. As a result, adjusted EBITDA declined 2.6 per cent in the second quarter of 2014 compared to the same quarter in 2013.

    Capital expenditures in the second quarter of 2014 were $146 million, down $11 million (6.6 per cent) from the same quarter a year earlier. Capital expenditure increases from higher FTTH footprint expansion and higher FibreOP customer connections in the second quarter of 2014 were more than offset by lower spending on DSL expansion and the completion of several large business customer network projects in 2013.

    Free cash flow in the second quarter of 2014 was $131 million, down $22 million from the same quarter in 2013, primarily as result of higher cash income taxes and lower adjusted EBITDA, somewhat offset by lower capital expenditures and less use of cash for changes in working capital.

    Revenue details

    Internet revenue increased $7 million (4.8 per cent) driven by growth in high-speed Internet customers of 4.7 per cent and growth in residential high-speed average revenue per customer (ARPC) of 2.3 per cent from the same quarter in 2013. FibreOP Internet customers grew by 17,100 during the quarter, bringing total FibreOP Internet customers to approximately 217,100 at the end of June 2014. FibreOP Internet additions include existing Bell Aliant customers migrating from DSL and fibre-to-the-node (FTTN) networks to the upgraded service. These migrations do not contribute to overall high-speed customer growth but increasingly contribute to improved customer retention and growth in overall average revenue per customer. Overall high-speed Internet customer net additions were 13,900 in the second quarter of 2014, up from 6,200 in the same quarter of 2013, bringing total high-speed Internet customers to 977,000 at the end of June 2014.

    IPTV revenue grew $12 million (38.3 per cent) in the second quarter of 2014 compared to the same quarter in 2013, with total IPTV customers of 202,400, up 36.1 per cent from a year earlier. FibreOP TV customers grew by 14,200 in the second quarter to reach 185,600, a portion of which were migrations from Bell Aliant's FTTN TV service. Overall net IPTV customer additions were 12,600 in the second quarter of 2014, compared to 11,500 a year earlier.

    Other data revenues increased $4 million (3.9 per cent) in the second quarter of 2014 compared to the same quarter in 2013, as a result of IP data services growth enabled by Bell Aliant's expansion of its next generation network technology.

    Local service and long distance revenues declined $15 million (5.3 per cent) and $11 million (13.9 per cent), respectively, in the second quarter of 2014 compared to the same quarter in 2013, driven largely by NAS declines of 5.3 per cent. Overall net NAS declines improved 25.3 per cent from the same quarter in 2013. Residential net NAS declines of 20,000 in the second quarter of 2014 improved 6,700 from the same quarter in 2013, with improved performance in both fibre and non-fibre markets. Business net NAS declines of 4,900 in the second quarter of 2014 improved 1,800 from the same quarter a year earlier.

    Wireless revenues were relatively flat in the second quarter of 2014 compared to the second quarter in 2013, as the benefits of increases in wireless customers were offset by lower ARPC from competitive pressures and lower roaming rates. Overall wireless customers were up 1.8 per cent at the end of June 2014 from a year earlier with growth in postpaid wireless customers of 3.5 per cent offset by declines in prepaid wireless customers, reflecting industry trends.

    Other revenues were down $6 million (15.2 per cent) in the second quarter of 2014 compared to the same quarter in 2013, due to lower product sales and a decrease in the volume of custom work in Q2 2014.

    Declared Dividends

    As part of the BCE privatization offer, the quarterly dividend on common shares that would otherwise have been payable on October 6, 2014 will not be declared or paid by Bell Aliant.

    Bell Aliant Preferred Equity Inc. declared a dividend on its Series A Preferred Shares of $0.303125 per share, a dividend on its Series C Preferred Shares of $0.284375 per share, and a dividend on its Series E Preferred Shares of $0.265625 per share, each to be paid on September 30, 2014, to shareholders of record at the close of business on September 15, 2014.

    Unless otherwise stated, dividends paid by Bell Aliant Preferred Equity Inc. to Canadian residents are "eligible dividends" as defined by the Canadian Income Tax Act and corresponding provincial legislation.

    Additional Information

    More information on Bell Aliant's and Bell Aliant GP's second quarter 2014 results can be found in Bell Aliant's second quarter 2014 supplementary financial information package and Bell Aliant and Bell Aliant GP's second quarter 2014 MD&As, available at www.bellaliant.ca/investors and on SEDAR at www.sedar.com.

    Analyst Conference Call

    A conference call with the financial community is scheduled for:

    August 1, 2014 at 8:00 a.m. (Eastern)
    Dial-in 866-789-9572 or 416-340-2217 for Toronto area participants, passcode 6196776#.

    A live audio webcast of the conference call can be accessed on www.bellaliant.ca under the Investor Relations section. Media are invited to attend in listen-only mode.

    A replay of the session can be heard until August 31, 2014.
    To access the replay, dial 800-408-3053 or 905-694-9451 and enter the passcode 8669410#.

    Notes

    The information contained in this news release is unaudited.

    (1) Bell Aliant derives virtually all of its income from its ownership in Bell Aliant GP. Bell Aliant GP's results consolidate the results of Bell Aliant Regional Communications, Limited Partnership; Télébec, Limited Partnership; NorthernTel, Limited Partnership; and Bell Aliant Preferred Equity Inc. (2) Percentage changes quoted in this release related to dollar values are based on amounts rounded to the nearest hundred-thousand, consistent with disclosure in Bell Aliant's supplementary information package and Bell Aliant GP's MD&A for the second quarter of 2014. Dollar values quoted in this release are rounded to the nearest million unless otherwise stated. Customer metrics are rounded to the nearest hundred unless otherwise stated. (3) Definitions of non-IFRS measures: a. Adjusted EBITDA: Bell Aliant defines adjusted EBITDA as net earnings before finance costs, other expense, income tax expense, depreciation and amortization, and severance and other charges. b. Free cash flow: Bell Aliant defines free cash flow as cash from operating activities less capital expenditures. Free cash flow includes the cash performance of Bell Aliant and Bell Aliant GP on a combined basis. c. Adjusted earnings per share (EPS): Bell Aliant defines adjusted EPS as diluted EPS of Bell Aliant Inc. adjusted for the per share after-tax effect of purchase price allocation amortization, severance and other charges, and debt redemption loss, recorded by Bell Aliant GP.

    For a reconciliation of these non-IFRS financial measures to the most closely comparable IFRS financial measures, please refer to Bell Aliant GP's MD&A for the second quarter of 2014 available at www.bellaliant.ca/investors and www.sedar.com.

    Forward-looking Information
    This news release contains forward-looking statements concerning anticipated future events, results, circumstances or expectations, in particular the privatization of Bell Aliant by BCE. Unless otherwise indicated, such forward-looking statements describe management's expectations at August 1, 2014. These statements are based on management's beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond management's control. These statements are not guarantees of future performance and are subject to assumptions which may prove to be inaccurate and numerous risks and uncertainties which are difficult to predict.

    Risk factors
    There are many factors that could cause actual results or events to differ materially from current expectations. The most significant factors that Bell Aliant has identified that may affect Bell Aliant's financial results or events in 2014 include but are not limited to: increasing competition; cost management; financing and free cash flow; network evolution; pension valuation and investment risk; legislative and regulatory factors; outsourcing and vendor relationships; information technology; human capital; as well as the structural subordination of our common shares; limitations on non-resident ownership; dilution, unpredictability and volatility of our share price; and tax related risks. Some of these risk factors are largely beyond Bell Aliant's control. For additional information on material factors and assumptions used to develop forward-looking information and risk factors that could cause actual results to differ materially from forward-looking information, see also the "Risks that could affect our business and results" section of Bell Aliant Inc.'s MD&A for the year ended December 31, 2013, and the "2014 outlook and assumptions" and "Risks that could affect our business and results" sections of Bell Aliant Regional Communications Inc.'s MD&A for the year ended December 31, 2013, as updated by their 2014 quarterly MD&As, as well as the "Risk Factors" sections of Bell Aliant Inc.'s and Bell Aliant Regional Communication Inc.'s 2013 Annual Information Forms. These documents are available at www.bellaliant.ca and www.sedar.com. In addition, BCE's obligation to make and complete the offer to acquire Bell Aliant common shares and preferred shares of Bell Aliant Preferred Equity Inc. is subject to a number of conditions set forth in the support agreement for the transaction.

    Should any risk factor affect Bell Aliant in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Unless otherwise indicated, forward-looking information does not take into account the effect that transactions, or non-recurring or other special items, announced or occurring after this information is provided may have on the business. All of the forward-looking information reflected in this press release and the documents referred to within it are qualified by these cautionary statements. There can be no assurance that the results or developments anticipated by Bell Aliant will be realized or, even if substantially realized, that they will have the expected consequences for Bell Aliant.

    Except as may be required by Canadian securities laws, Bell Aliant disclaims any intention and assumes no obligation to update or revise any forward-looking information, even if new information becomes available, as a result of future events or for any other reason. Readers should not place undue reliance on any forward-looking information. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to fiscal 2014 or other future periods. Readers are cautioned that such information may not be appropriate for other purposes.

    About Bell Aliant
    Bell Aliant is one of North America's largest regional communications providers and the first company in Canada to cover an entire city with fibre-to-the-home (FTTH) technology with its FibreOP services. Through its operating entities, it serves customers in six Canadian provinces with innovative information, communication and technology services including voice, data, Internet, video and value-added business solutions. Bell Aliant's employees deliver the highest quality customer service, choice and convenience.

    Bell Aliant Inc.

    CONTACT: Media Relations: Katie Burgess, Toll-free: (855) 487-6198,
    katie.burgess@bellaliant.ca, mediarelations@bellaliant.ca; Investor
    Relations: Zeda Redden,Toll-free: (877) 487-5726, zeda.redden@bellaliant.ca




    JD.com to Report Second Quarter 2014 Financial Results on August 15, 2014

    BEIJING, Aug. 1, 2014 /PRNewswire/ -- JD.com, Inc. ("JD.com" or the "Company") , China's largest online direct sales company, today announced that it plans to release its unaudited second quarter 2014 financial results on Friday, August 15, 2014, before the market opens.

    JD.com's management will hold a conference call at 8:00 am Eastern Time on August 15, 2014 (8:00 pm Beijing/Hong Kong Time on August 15, 2014) to discuss the second quarter 2014 financial results.

    Listeners may access the call by dialing the following numbers:

    US: 1855-298-3404 or +1-631-5142-526 Hong Kong 800-905-927 or +852-5808-3202 China 400-1200-539 International +65-6823-2299

    Passcode: 8373385

    A telephone replay will be available from 11:00 am Eastern Time on August 15, 2014 through 11:59 pm Eastern Time on August 22, 2014. The dial-in details are as follows:

    US: 1866 846 0868 International +61-2-9641-7900

    Passcode: 8373385

    Additionally, a live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.jd.com.

    About JD.com, Inc.

    JD.com, Inc. is the leading online direct sales company in China. The Company strives to offer consumers the best online shopping experience. Through its content-rich and user-friendly website www.jd.com and mobile applications, JD.com offers a wide selection of authentic products at competitive prices and delivers products in a speedy and reliable manner. As of March 31, 2014, JD.com offered approximately 40.2 million SKUs across 13 categories of products. The Company believes it has the largest fulfilment infrastructure of any e-commerce company in China. JD.com operated 7 fulfilment centers and a total of 86 warehouses with an aggregate gross floor area of approximately 1.5 million square meters in 36 cities, and 1,620 delivery stations and 214 pickup stations in 495 cities across China, staffed by its own employees. The Company provided same-day delivery in 43 cities under its 211 program and next-day delivery in another 256 cities across China as of March 31, 2014.

    For more information, please visit http://ir.jd.com.

    For investor and media inquiries, please contact:

    China

    Ruiyu Li
    Investor Relations
    JD.com, Inc.
    +86 (10) 5895-5597
    ir@jd.com

    Clarisse Pan
    Brunswick Group
    +86 (21) 6039-6388
    JDIR@brunswickgroup.com

    U.S.

    Cindy Zheng
    Brunswick Group
    +1 (212) 333-3810
    JDIR@brunswickgroup.com

    JD.com, Inc.

    Web site: http://ir.jd.com/




    Nightingale Reports Fiscal 2014 Results

    MARKHAM, ON, July 31, 2014 /CNW/ - Nightingale Informatix Corporation ("Nightingale" or the "Company") , an application service provider (ASP) of electronic health record (EHR) software and related services, announces its financial results for the three months and year ended March 31, 2014.

    Q4 Fiscal 2014 Financial and Operational Summary

    --  Revenue was $4.0 million, down 24% compared to $5.2 million in Q4 F2013,
    and up 4% from $3.8M in Q3 F2014. The variance from F2013 primarily
    reflects a decrease in software license revenues from enterprise
    contracts as well as a decrease in professional services revenues.
    --  Gross profit was $3.6 million, or 90% of revenue, compared to $4.7
    million, or 91% of revenue, in Q4 F2013 and $3.4 million, or 88% of
    revenue, in Q3 F2014.
    --  Operating Expenses, excluding stock based compensation, depreciation and
    amortization costs were $3.2 million compared to $4.3 million in Q4
    F2013 and $3.2 million in Q3 F2014.
    --  Adjusted EBITDA(1) was $0.4 million, 10% of revenue, down from $1.0
    million or 20% of revenue in Q4 F2013 and up from $0.1 million or 4% of
    revenue in Q3 F2014.
    --  Net loss was $0.6 million compared to net income of $0.9 million in Q4
    F2013 and net loss of $1.4 million in Q3 F2014.
    --  Cash provided by operations was $1.5 million compared to cash used by
    operations of $0.7 million in Q4 F2013.
    --  Total deferred revenue was $4.8 million down from $5.9 million at March
    31, 2013.
    

    Fiscal 2014 Financial and Operational Summary

    --  Revenue was $15.3 million, down 27% compared to $20.9 million from
    F2013, primarily reflecting a decrease in software license revenues from
    enterprise contracts.
    --  Gross profit was $13.5 million, or 88% of revenue, compared to $18.6
    million, or 89% of revenue for F2013.
    --  Operating Expenses, excluding stock based compensation, depreciation and
    amortization costs were $12.6 million compared to $15.5 million for
    F2013.
    --  Adjusted EBITDA(1) was $0.9 million, or 6% of revenue, down from $3.7
    million, or 18% of revenue for F2013.
    --  Net loss was $3.0 million compared to net income of $2.0 million for
    F2013.
    --  Cash provided by operations was $0.9 million compared to cash used in
    operations of $1.7 million in F2013.
    

    "This past fiscal year was effectively a transitional year for the Company, reflecting the large investment in our next generation product, the negative impact the product delays had on our perpetual licence revenues and the shift to a SaaS based sales model for the SMB space," said Sam Chebib, President and CEO. "We are at the tail end of this transition, and with the bulk of the investment in Nightingale EHR ("Nexia") behind us, we will be reducing our spending on research and development. Nexia will be initially sold in the US and Ontario market, and in other Canadian provinces later in the year. Going forward we will be focusing our energy on sales and marketing as we are very optimistic about the impact Nexia will have on our market position and consequently, our ability to drive incremental recurring revenues and increase the predictability of our business model."

    Fiscal 2014 Fourth Quarter and Annual Financial Review

    The Company's results are prepared in accordance with International Financial Reporting Standards (IFRS) and in Canadian dollars unless otherwise stated.

    Revenue for Q4 F2014 was $4.0 million, a decrease of $1.2 million from $5.2 million for Q4 F2013. F2014 revenue was $15.3 million compared to $20.9 million for F2013. These decreases are primarily associated with a decrease in software revenues from enterprise contracts (which can vary significantly from quarter to quarter) as well as a decrease in revenues from professional services. These decreases were partially offset by an increase in recurring revenues from the Company's Nightingale On Demand EHR.

    Recurring Revenue(2) for Q4 F2014 was $2.8 million (70% of revenue), an increase of $0.2 million, or 8%, from $2.6 million (50% of revenue) in Q4 F2013. Recurring revenue for F2014 was $11.0 million (72% of revenue), an increase of $0.4 million, or 4% from $10.6 million (51% of revenue) for F2013. The increase in Recurring Revenue in Q4 was primarily the result of an increase in revenues from the Company's Nightingale On Demand EHR product which was partially offset by a decrease in revenue from the Company's low-margin transcription business. In the YTD period, decreases in revenues from the Company's low-margin transcription business and a decrease in transaction based revenues on the Company's US based product lines offset the increase in recurring revenues from the Company's EHR product.

    For Q4 F2014, gross margin was 90% ($3.6 million gross profit) compared to 91% ($4.7 million gross profit) for Q4 F2013. For F2014, gross margin was 88% ($13.5 million) compared to 89% ($18.6 million) for F2013.

    Operating expenses for Q4 F2014 decreased 26% to $3.2 million (79% of revenue), excluding charges for stock based compensation and depreciation and amortization, compared to operating expenses of $4.3 million (83% of revenue), excluding charges for stock based compensation and depreciation and amortization, for Q4 F2013. Operating expenses for F2014 decreased 19% to $12.6 million (82% of revenue), excluding charges for stock based compensation and depreciation and amortization, compared to operating expenses of $15.5 million (74% of revenue), excluding charges for stock based compensation and depreciation and amortization, for F2013.

    For Q4 F2014, Adjusted EBITDA was $0.4 million (10% of revenue), compared to $1.0 million (20% of revenue) in Q4 F2013. For F2014, Adjusted EBITDA was $0.9 million (6% of revenue), compared to $3.7 million (18% of revenue) for F2013.

    The impact of fluctuations in the rate of exchange between the US Dollar and Canadian Dollar on Q4 F2014 EBITDA were negligible. The $0.5 million loss from foreign currency in F2014 is predominantly the result of the re-measurement of the Company's term loans (denominated in US Dollars) into Canadian Dollars.

    Included in net loss for F2014 is a financial loss of $0.7 million. The financial loss is predominantly related to the write off of a portion of the financial derivative asset that is embedded in the Company's Series B convertible debentures. The Company wrote off a significant portion of the financial asset in Q3 F2014 when a substantial number of debenture holders (85%) converted their investment to common shares or transferred their investment to the Company's Series C convertible debentures.

    For Q4 F2014, net loss was $0.6 million compared to net income of $0.9 million in Q4 F2013. For F2014, net loss was $3.0 million compared to net income of $2.0 million for F2013.

    Cash and cash equivalents on March 31, 2014 were $0.5 million, a decrease of $3.0 million, or 85%, from March 31, 2013, of which $3.5 million was for product development costs related to the Company's long-term strategic growth initiatives.

    At March 31, 2014, total common shares issued and outstanding were 94,758,915.

    The financial statements and MD&A will be available at www.nightingalemd.com and filed on www.sedar.com on July 31, 2014. This press release should be read in conjunction with Nightingale's Consolidated Financial Statements and the accompanying Management Discussion and Analysis for the year ended March 31, 2014.

    Notice of Conference Call
    Nightingale will host a conference call on Friday, August 1, 2014 at 8:30 a.m. Eastern Standard Time. To access the conference call by telephone, dial (888) 231-8191 (or (647) 427-7450 for international). Please connect approximately fifteen minutes prior to the call, and reference conference ID 82566313 prior to the beginning of the call to ensure participation. The conference call will be archived for replay until Friday, August 8, 2014. To access the archived conference call, dial (416) 849-0833 or (855) 859-2056 and enter reference 82566313#. To listen to the conference call replay on the internet please visit the Nightingale website shortly after the call at www.nightingalemd.com.

    Non-IFRS Financial Measures
    The Company internally measures its performance and results of initiatives through a number of measures that are not recognized under IFRS and may not be comparable to similar measures used by other companies.

    1. Adjusted EBITDA
    Adjusted EBITDA is a non-IFRS measure that management believes is a useful measurement to evaluate the performance of the Company. Investors should be cautioned, however, that Adjusted EBITDA should not be construed as an alternative to net earnings as determined in accordance with IFRS. The Company's method of calculating Adjusted EBITDA may differ from the methods used by other companies and, accordingly, it may not be comparable to similarly titled measures used by other companies.

    Adjusted EBITDA is defined as earnings before other loss (income), interest, income taxes, depreciation, amortization, stock-based compensation, and business acquisition, integration and other costs. Management believes it is useful to exclude these items as they are either non-cash expenses, items that cannot be influenced by management in the short term, or items that do not impact core operating performance, and Management uses this information internally for forecasting and budgeting purposes.

    The following provides a reconciliation of Adjusted EBITDA to Loss and Comprehensive Loss:

    Three Months Ended Year Ended ------------------ ---------- Mar 31, 2014 Mar 31, 2013 Mar 31, 2014 Mar 31, 2013 ------------ ------------ ------------ ------------ $ $ $ $ Income (Loss) and Comprehensive Income (Loss) (560,353) 892,659 (2,989,256) 1,992,555 Adjustments for Current Tax Expense (Recovery) 30,655 (1,009,423) 95,405 (1,079,452) Other Income (Loss) 139,967 (28,268) 481,433 (23,029) Interest 355,245 232,079 1,027,193 537,598 Depreciation and Amortization 395,190 439,861 1,524,108 1,625,089 Stock-Based Compensation 50,185 10,135 128,297 139,793 Other financing gain (loss) (22,177) (134,942) 658,963 (134,942) Acquisition, Integration and Other - 625,833 - 675,804 Adjusted EBITDA 388,712 1,027,934 926,143 3,733,416 --------------- ------- --------- ------- ---------

    2. Recurring and Non-Recurring Revenue
    The Company has included recurring revenue and non-recurring revenue measurements since it believes that this information is useful to investors to evaluate its performance. Investors should be cautioned, however, that recurring revenue and non-recurring revenue should not be construed as an alternative to revenue as determined in accordance with IFRS. Recurring Revenue is comprised of utilization fees, hosting, support and maintenance revenue, data management and transcription services and transactional fees. Non-Recurring Revenue is comprised of revenues generated from sales of perpetual software and systems licenses and related training, data conversion and installation services.

    The following provides a reconciliation of Recurring Revenue and Non-Recurring Revenue to Revenue:

    Three Months Ended Year Ended ------------------ ---------- Mar 31, 2014 Mar 31, 2013 Mar 31, 2014 Mar 31, 2013 ------------ ------------ ------------ ------------ $ $ $ $ Non-Recurring Revenue 1,151,761 2,593,780 4,285,147 10,324,405 Recurring Revenue 2,816,806 2,605,505 11,011,861 10,600,447 3,968,567 5,199,285 15,297,008 20,924,852 --------- --------- ---------- ----------

    About Nightingale
    For more than a decade, Nightingale has been delivering innovative cloud-based Electronic Health Record (EHR) and Practice Management solutions to healthcare organizations across the United States and Canada. Our goal is to uncomplicate the day-to-day challenges of healthcare providers. We achieve this by creating software that is truly intuitive--minimizing training and maximizing adoption. We believe so strongly in building easy-to-use software that we structured our entire product team around user-centric design. Our clients are benefiting from this focus through a well-supported and robust solution that presents a holistic view of a person's well-being in a simple, clean interface, so that the best health decisions can be made. Nightingale - One Patient. One Record. www.nightingalemd.com

    Forward Looking Statement
    This press release contains "forward-looking statements" respecting the issuance and cancellation of securities of the Company within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may" ,"could", "would", "might", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nightingale to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the speculative nature of the medical software industry, which is affected by numerous factors beyond Nightingale's control; the ability of Nightingale to successfully secure customer contracts and the timing of securing such contracts; the ability of Nightingale to complete and successfully integrate its acquisitions on an accretive basis, Nightingale's access to debt and capital facilities, including compliance with current debt arrangements; the existence of present and possible future government regulation; the significant competition that exists in the medical software industry; the early stage of Nightingale's business, and risks associated with early stage companies, including uncertainty of revenues, markets and profitability and the need to raise additional funding. All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends. Certain material factors or assumptions applied by management in making forward-looking statements, include without limitation, factors and assumptions regarding future trends in healthcare spending, economic conditions affecting Nightingale and North American economies; Nightingale's ability to continue to fund its business, rates of customer defaults, relationships with, and payments to lenders, as well as Nightingale's operating cost structure.

    Although Nightingale has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Nightingale does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Further information on Nightingale Informatix Corporation is available at www.sedar.com.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME AND LOSS
    FOR THE TWELVE MONTHS ENDED MARCH 31, 2014 AND MARCH 31, 2013
    Unaudited (Canadian Dollars)

    Year Ended Year Ended March 31, 2014 March 31, 2013 -------------- -------------- $ $ Revenue 15,297,008 20,924,852 Cost of sales 1,762,503 2,342,467 Gross profit 13,534,505 18,582,385 ------------ ---------- ---------- Expenses General and administration 3,313,888 3,489,350 Sales and marketing 2,808,039 3,366,065 Research and development 3,523,188 5,500,278 Client services 4,615,652 4,258,158 Business acquisition, integration and other - 675,804 14,260,767 17,289,655 ---------- ---------- Operating income (loss) (726,262) 1,292,730 Interest 1,027,193 537,598 Other finance loss 658,963 (134,942) Foreign currency loss 481,433 (23,029) --------------------- ------- ------- Income (loss) before tax (2,893,851) 778,161 Current tax expense (benefit) 95,405 (1,079,452) ---------------------------- ------ ---------- Income (loss) and comprehensive income (loss) (2,989,256) 1,857,613 -------------------------------------------- ---------- --------- Basic and diluted income (loss) per share Basic and diluted income (loss) per share $(0.04) $0.02 ----------------------------------------- ------ ----- Weighted number of common shares - basic 81,173,948 76,310,915 ---------------------------------------- ---------- ---------- Weighted number of common shares - diluted 81,173,948 92,882,264 ------------------------------------------ ---------- ----------

    CONDENSED CONSOLIDATED BALANCE SHEET
    AS AT MARCH 31, 2014
    Unaudited (Canadian Dollars)

    March 31, 2014 March 31, 2013 -------------- -------------- $ $ ASSETS Current assets Cash and cash equivalents 532,038 3,491,780 Accounts receivable and unbilled accounts receivable 5,016,958 5,820,214 Other receivables 82,958 196,127 Prepaid expenses 289,379 415,958 5,921,333 9,924,079 Long-term assets Unbilled accounts receivable 415,124 339,752 Financial asset 149,731 808,694 Property and equipment 1,225,676 857,270 Intangible assets 11,153,240 7,974,606 Goodwill 4,792,399 4,792,399 -------- --------- --------- Total assets 23,657,503 24,696,800 ------------ ---------- ---------- LIABILITIES Current liabilities Line of credit 1,000,000 1,000,000 Accounts payable and accrued liabilities 5,122,303 4,271,996 Current portion of deferred revenue 3,791,558 4,176,876 Current portion of finance lease obligations 104,731 64,397 Current portion of term loan 1,634,461 1,521,720 Current portion of convertible debentures - 1,064,428 11,653,053 12,099,417 Long-term liabilities Term loan 1,403,557 2,686,704 Convertible debentures 5,015,180 5,353,050 Deferred revenue 978,015 1,713,326 Finance lease obligations 82,745 36,739 ------------------------- ------ ------ Total liabilities 19,132,550 21,889,236 ----------------- ---------- ---------- SHAREHOLDERS EQUITY Capital stock 34,177,890 29,629,683 Contributed surplus 5,939,511 5,781,073 Equity portion of convertible debentures 811,558 811,558 Warrants 4,407 4,407 Deficit (36,408,413) (33,419,157) 4,524,953 2,807,564 --------- --------- Total liabilities and shareholders equity 23,657,503 24,696,800 ----------------------------------------- ---------- ----------

    CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
    FOR THE TWELVE MONTHS ENDED MARCH 31, 2014 AND MARCH 31, 2013
    Unaudited (Canadian Dollars)

    Year Ended Year Ended ---------- ---------- Mar 31, 2014 Mar 31, 2013 ------------ ------------ $ $ Cash flow from operating activities Income (loss) from operations: (2,989,256) 1,992,555 Adjustments for: Depreciation and amortization 1,524,108 1,625,089 Charge to bad debt expense 55,847 63,115 Amortization of transaction costs related to debt financing 230,791 65,310 Tax recovery on warrant expiry - (399,229) Stock based compensation 128,297 139,793 Other financial gain 658,963 (134,942) Unrealized foreign exchange (gain) loss 427,263 (53,507) Interest accretion 288,556 222,159 324,569 3,520,343 Changes in non-cash working capital balances Accounts receivable and unbilled accounts receivable 960,294 (3,598,762) Prepaid expenses 126,579 165,635 Other receivables (43,169) (91,211) Other assets (75,372) (339,752) Accounts payable and accrued liabilities 754,718 767,762 Income taxes payable 20,000 (686,921) Deferred revenue (1,120,629) (1,418,421) Cash flows provided by (used in) operating activities 946,990 (1,681,327) ----------------------------------------------------- ------- ---------- Cash flow from investing activities Purchase of property and equipment (509,374) (711,684) Capitalized development costs (4,414,489) (3,455,981) Cash flows used in investing activities (4,923,863) (4,167,665) --------------------------------------- ---------- ---------- Cash flow from financing activities Proceeds from issuance of common stock 2,436,207 - Repayment of capital lease obligations (60,946) (88,486) Proceeds of convertible debentures 1,428,628 4,705,723 Proceeds from line of credit borrowing, net - 330,000 Proceeds from landlord inducement - 120,000 Repayment of convertible debentures (1,141,000) - Proceeds from term loan (net of costs) (28,232) 1,946,850 Repayment of term loan (1,620,574) (882,087) Cash flows provided by (used in) financing activities 1,014,083 6,132,000 ----------------------------------------------------- --------- --------- Foreign exchange losses on cash in foreign currency 3,048 9,714 --------------------------------------------------- ----- ----- Net increase (decrease) in cash (2,959,742) 292,722 Cash and cash equivalents Beginning of period 3,491,780 3,199,058 End of period 532,038 3,491,780 ------------- ------- --------- Interest Paid 1,099,530 682,671 Taxes Paid (Refunded) 75,405 11,689

    OVERALL PERFORMANCE, RESULTS OF OPERATIONS AND FINANCIAL CONDITION

    Year Quarter Ended Year ------------- In $000's Quarter Ended Ended Ended ------------- (except per June 30, Sept. 30, Dec. 31, March 31, March 31, June 30, Sept. 30, Dec. 31, March 31, March 31, share data) 2012 2012 2012 2013 2013 2013 2013 2013 2014 2014 ---------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- $ $ $ $ $ $ $ $ $ Revenue Recurring 2,705 2,665 2,625 2,606 10,601 2,602 2,794 2,798 2,817 11,012 Non-recurring 2,856 2,403 2,471 2,594 10,324 1,167 964 1,002 1,152 4,285 Total 5,561 5,068 5,096 5,200 20,925 3,769 3,758 3,800 3,969 15,297 ----- ----- ----- ----- ----- ------ ----- ----- ----- ----- ------ Software Business 5,480 4,993 5,014 5,145 20,632 3,767 3,755 3,800 3,967 15,288 -------- ----- ----- ----- ----- ------ ----- ----- ----- ----- ------ Gross Profit 4,940 4,570 4,336 4,736 18,582 3,338 3,259 3,360 3,576 13,534 ------------ ----- ----- ----- ----- ------ ----- ----- ----- ----- ------ Operating Expenses 4,516 4,040 3,949 4,784 17,289 3,618 3,396 3,614 3,633 14,261 -------- ----- ----- ----- ----- ------ ----- ----- ----- ----- ------ Adjusted EBITDA 916 962 828 1,027 3,733 131 266 140 389 926 ------ --- --- --- ----- ----- --- --- --- --- --- Operating Income (Loss) 425 529 387 (48) 1,293 (279) (136) (254) (57) (726) ------------ --- --- --- --- ----- ---- ---- ---- --- ---- Income (Loss) and Comprehesive Income (Loss) 250 624 227 893 1,994 (780) (245) (1,404) (560) (2,989) ---- ------ ---- Per share Basic $ - $0.01 $ - $0.01 $0.03 $(0.01) $ - $(0.01) $(0.01) $(0.04) Diluted $ - $0.01 $ - $0.01 $0.03 $(0.01) $ - $(0.01) $(0.01) $(0.04) Weighted Avg. # of Common Shares Basic 76,311 76,311 76,311 76,311 76,311 76,311 76,311 77,518 94,759 81,174 Diluted 82,360 90,086 90,083 92,870 92,882 76,311 76,311 77,518 94,759 81,174 ------ ------ Total Assets 17,962 19,761 19,059 24,697 24,697 22,787 23,493 23,709 23,657 23,657 Total Long-Term Liabilities 7,244 8,421 7,861 9,790 9,790 9,386 10,083 7,651 7,479 7,479 Total Deferred Revenue 7,479 6,605 5,913 5,890 5,890 5,837 5,473 5,233 4,770 4,770 ------- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----

    Nightingale Informatix Corporation

    CONTACT: Peter Cauley, CFO, Nightingale Informatix Corporation, Tel:
    905-307-7870, pcauley@nightingalemd.com; Marc Lakmaaker, Senior Account
    Executive, TMX Equicom,Tel: 416-815-0700 ext. 248,
    mlakmaaker@tmxequicom.com

    Web site: http://www.nightingalemd.com//

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