Companies news of 2017-03-02 (page 1)

  • SS&C Technologies Holdings, Inc. Completes Repricing of Term Loans
  • Cegid Announces the Appointment of Pascal Houillon as CEO
  • McRae Industries, Inc. Dividend Declared
  • Cegid Announces the Appointment of Pascal Houillon as CEOPatrick Bertrand to Retire
  • Entravision Communications Corporation To Expand Digital Marketing Capabilities With...
  • Watson Health Medical Imaging Collaborative Expands to 24 Members; IBM Debuts Watson...
  • LivePerson to Participate in 29th Annual ROTH Conference
  • Marvell Technology Group Ltd. Reports Fourth Quarter and Fiscal Year 2017 Financial...
  • Gilat and Hughes to Unveil High Performance Dual-Band Aero Antenna for In-Flight...
  • Scientific Games Reports Fourth Quarter and Full Year 2016 ResultsFifth Consecutive...
  • LendingTree Names STEM Center USA as Winner of $50,000 Small Business Grant...
  • Remark Media Appoints Daniel Stein to its Board of Directors
  • Autodesk Reports Strong Fourth Quarter ResultsNew Model Subscription Additions Underscore...
  • Synopsys Named a Leader in the Gartner Magic Quadrant for Application Security...
  • DATATRAK International, Inc. Reports Fourth Quarter and Full Year Results for 2016
  • Digital Media Professionals Uses Cadence Palladium XP Verification Computing Platform and...
  • NYX Content Live with Rush Street Interactive's Social and Real-money Regulated Casinos in...
  • To Enhance Data Connectivity And Reduce Costs, Lufthansa Technik Selects UTC Aerospace...
  • CDK Global Partner Program Expands with Nine New Partners
  • General Dynamics NASSCO Delivers Final ECO Class Tanker Constructed for SEA-Vista LLC
  • Twitter Partners with ESL and DreamHack to Live Stream esports Tournaments and Original...
  • Cruise Critic Announces Partnership with MSC CruisesFrom Online Conversations to Onboard...
  • Existence of Substantial Power in the Market of Restricted Television and Audio
  • BOSS Revolution Releases Major Update to its Popular Calling AppNow Includes FREE App2App...
  • Natcore, Denzo to Double Scope of Queensland Solar Farm
  • DarioHealth Corp. Strengthens Board of Directors with Two Additional Appointments
  • SCI Technology Hosts U.S. Army Acquisition Community For AACoE's Intermediate...
  • Clearsense Leverages Hortonworks to Drive Innovation in Healthcare
  • Reprints Desk Tops Million Dollar Mark in Annual Recurring Revenue, Continues Pivot to...



    SS&C Technologies Holdings, Inc. Completes Repricing of Term Loans

    WINDSOR, Conn., March 2, 2017 /PRNewswire/ -- SS&C Technologies Holdings, Inc. , a global provider of financial services software and software-enabled services (the "Company"), today announced that it completed a repricing of its outstanding $91.9 million term A-1 loans, $142.5 million term A-2 loans, $1,480.2 million term B-1 loans and $142.1 million term B-2 loans (collectively, the "Existing Term Loans"). As a result of the refinancing transaction, the Existing Term Loans have been replaced by new term A-1 loans, new term A-2 loans, new term B-1 loans and new term B-2 loans (the "New Term Loans"), each at the same outstanding principal balance, but at a different interest rate. The applicable interest rate for the new term A-1 loans and new term A-2 loans is LIBOR plus 1.75% or the base rate plus 0.75%. The applicable interest rate for the new term B-1 loans and new term B-2 is LIBOR plus 2.25% or the base rate plus 1.25%. The LIBOR "floor" for all New Term Loans is 0%.

    The maturity date for the New Term Loans remains unchanged (July 8, 2020 for the new term A-1 loans and new term A-2 loans, and July 8, 2022 for the new term B-1 loans and the new term B-2 loans). No changes were made to the financial covenants or the scheduled amortization.

    Deutsche Bank AG New York Branch acted as the administrative agent, and Morgan Stanley Senior Funding, Inc. acted as the sole arranger and bookrunner, in connection with the repricing.

    About SS&C Technologies

    SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 11,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services.

    Additional information about SS&C is available at www.ssctech.com. Follow SS&C on Twitter, LinkedIn and Facebook. The SS&C Technologies logo is available at www.globenewswire.com/newsroom/prs/?pkgid=8587

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ssc-technologies-holdings-inc-completes-repricing-of-term-loans-300417332.html

    Photo: http://mma.prnewswire.com/media/197838/ssc_logo.jpg SS&C

    CONTACT: For more information: Patrick Pedonti | Chief Financial Officer,
    SS&C Technologies, Tel: +1-860-298-4738 | E-mail:
    InvestorRelations@sscinc.com; Justine Stone | Investor Relations, SS&C
    Technologies, Tel: +1- 212-367-4705 | E-mail: InvestorRelations@sscinc.com

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




    Cegid Announces the Appointment of Pascal Houillon as CEO

    Patrick Bertrand to Retire

    LYON, France, March 2, 2017 /PRNewswire/ -- Cegid, the leading French mid-market enterprise management software and cloud provider, announces that Pascal Houillon, former CEO of Sage Americas and of Sage France, has been appointed as the new CEO, effective immediately. Patrick Bertrand is retiring as the current Group Chief Executive Officer (CEO).

    Pascal Houillon brings to Cegid over two decades of highly relevant mid-market ERP software experience, mostly in senior executive positions at Sage. Pascal joined Sage France in 1989 from Saari, and went on to become Regional Director and Sales Director before leading the Sybel business after it was acquired by Sage. He held multiple leadership roles at Sage, including President and CEO of Sage France, where he was also responsible for Belgium, Brazil, Switzerland and Morocco and was most recently CEO of Sage Americas since 2010.

    Pascal Houillon said: "Having followed Cegid from a privileged standpoint for the past 25 years, this is a company that I have long admired, and I am thrilled to be joining it now. Cegid is uniquely positioned with its traditional clients and in its key historical markets. It is also well-poised to exploit demand for cloud-based business solutions given its early focus on SaaS, and has opportunities to continue to grow its presence internationally. I look forward to leading the company at this crucial juncture."

    Jean-Michel Aulas, founder and Chairman of Cegid, and Christian Lucas, Managing Director of Silver Lake and Cegid Group board member, said: "We are thrilled to welcome Pascal, a dynamic, international and accomplished leader, to Cegid. His extensive technology experience and outstanding track record make him well-positioned to accelerate Cegid's growth strategy and lead its talented employees."

    Shahriar Tadjbakhsh, AltaOne Managing Partner and Cegid Group board member, said: "We look forward to working with Pascal and feel privileged to have his perspective and guidance at such a key time for Cegid."

    Jean-Michel Aulas, together with the shareholder group, said: "I want to thank Patrick personally for his outstanding contribution since joining in 1988 and taking the helm as CEO from 2002. He was instrumental in developing Cegid into a leading French software player, and was a pioneer by launching the SaaS transition as early as 2006. Patrick will remain a friend of the Company and I wish him all the best for the future."

    Patrick Bertrand is retiring as the current Group Chief Executive Officer (CEO). He said: "It has been a great adventure and honor to serve Cegid for almost 30 years. I want to thank Jean-Michel and all the firm's talented employees for their continued support through this period. I am incredibly proud to have led the development of Cegid and wish Pascal and the shareholder group all the best leading Cegid's next phase of growth."

    About Cegid

    Cegid is a leading player in the digital transformation of companies, providing cloud services and enterprise software to private companies and public entities alike. Cegid addresses the management needs of companies and public entities of all sizes in the fields of finance, taxation and human resources, and offers industry-specific solutions to companies in the manufacturing, trade, services and retail sectors as well as to the accounting profession. Based on MoBiClo(TM), its technological concept combining Mobility, Business Intelligence and the Cloud, Cegid's innovation strategy integrates the new ways in which people use software. Cegid is an international group with more than 2,200 employees, 30 locations in France, and over 15 subsidiaries and offices worldwide. Cegid serves more than 135,000 clients and 430,000 users, including over 150,000 in SaaS mode. In 2016, its revenues exceeded EUR307 million. Cegid is listed on Euronext Paris. Please visit www.cegid.com [http://www.cegid.com/].

    Contact:
    Hervé Perret
    hperret@cegid.fr
    Cegid Group
    52 Quai Paul Sédallian
    69279 Lyon Cedex 09
    Tél. 04 26 29 50 20
    www.cegid.com [http://www.cegid.com/]

    Marché de cotation : Euronext Paris Compartiment B
    Code ISIN Action : FR0000124703
    Reuters : CEGI.PA
    Bloomberg : CGD FP
    ICB : 9537 Software
    Indices : CAC ALL SHARES - CAC ALL-TRADABLE - CAC MID & SMALL
    CAC SOFT. & C.S. - CAC TECHNOLOGY - NEXT 150 - EnterNext© PEA-PME 150 - CAC PME

    Cegid



    McRae Industries, Inc. Dividend Declared

    MOUNT GILEAD, N.C., March 2, 2017 /PRNewswire/ -- McRae Industries, Inc. declared a dividend of $.13 per share on the Company's Class A and Class B Common Stock payable on March 29, 2017 to shareholders of record on March 15, 2017.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mcrae-industries-inc-dividend-declared-300416994.html

    McRae Industries, Inc.

    CONTACT: D. Gary McRae, President, Phone 910-439-6147

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




    Cegid Announces the Appointment of Pascal Houillon as CEOPatrick Bertrand to Retire

    LYON, France, March 2, 2017 /PRNewswire/ -- Cegid, the leading French mid-market enterprise management software and cloud provider, announces that Pascal Houillon, former CEO of Sage Americas and of Sage France, has been appointed as the new CEO, effective immediately. Patrick Bertrand is retiring as the current Group Chief Executive Officer (CEO).

    Pascal Houillon brings to Cegid over two decades of highly relevant mid-market ERP software experience, mostly in senior executive positions at Sage. Pascal joined Sage France in 1989 from Saari, and went on to become Regional Director and Sales Director before leading the Sybel business after it was acquired by Sage. He held multiple leadership roles at Sage, including President and CEO of Sage France, where he was also responsible for Belgium, Brazil, Switzerland and Morocco and was most recently CEO of Sage Americas since 2010.

    Pascal Houillon said: "Having followed Cegid from a privileged standpoint for the past 25 years, this is a company that I have long admired, and I am thrilled to be joining it now. Cegid is uniquely positioned with its traditional clients and in its key historical markets. It is also well-poised to exploit demand for cloud-based business solutions given its early focus on SaaS, and has opportunities to continue to grow its presence internationally. I look forward to leading the company at this crucial juncture."

    Jean-Michel Aulas, founder and Chairman of Cegid, and Christian Lucas, Managing Director of Silver Lake and Cegid Group board member, said: "We are thrilled to welcome Pascal, a dynamic, international and accomplished leader, to Cegid. His extensive technology experience and outstanding track record make him well-positioned to accelerate Cegid's growth strategy and lead its talented employees."

    Shahriar Tadjbakhsh, AltaOne Managing Partner and Cegid Group board member, said: "We look forward to working with Pascal and feel privileged to have his perspective and guidance at such a key time for Cegid."

    Jean-Michel Aulas, together with the shareholder group, said: "I want to thank Patrick personally for his outstanding contribution since joining in 1988 and taking the helm as CEO from 2002. He was instrumental in developing Cegid into a leading French software player, and was a pioneer by launching the SaaS transition as early as 2006. Patrick will remain a friend of the Company and I wish him all the best for the future."

    Patrick Bertrand is retiring as the current Group Chief Executive Officer (CEO). He said: "It has been a great adventure and honor to serve Cegid for almost 30 years. I want to thank Jean-Michel and all the firm's talented employees for their continued support through this period. I am incredibly proud to have led the development of Cegid and wish Pascal and the shareholder group all the best leading Cegid's next phase of growth."

    About Cegid

    Cegid is a leading player in the digital transformation of companies, providing cloud services and enterprise software to private companies and public entities alike. Cegid addresses the management needs of companies and public entities of all sizes in the fields of finance, taxation and human resources, and offers industry-specific solutions to companies in the manufacturing, trade, services and retail sectors as well as to the accounting profession. Based on MoBiClo(TM), its technological concept combining Mobility, Business Intelligence and the Cloud, Cegid's innovation strategy integrates the new ways in which people use software. Cegid is an international group with more than 2,200 employees, 30 locations in France, and over 15 subsidiaries and offices worldwide. Cegid serves more than 135,000 clients and 430,000 users, including over 150,000 in SaaS mode. In 2016, its revenues exceeded EUR307 million. Cegid is listed on Euronext Paris. Please visit www.cegid.com.

    Contact:
    Herve Perret
    hperret@cegid.fr
    Cegid Group
    52 Quai Paul Sedallian
    69279 Lyon Cedex 09
    Tel. 04 26 29 50 20
    www.cegid.com

    Marche de cotation : Euronext Paris Compartiment B
    Code ISIN Action : FR0000124703
    Reuters : CEGI.PA
    Bloomberg : CGD FP
    ICB : 9537 Software
    Indices : CAC ALL SHARES - CAC ALL-TRADABLE - CAC MID & SMALL
    CAC SOFT. & C.S. - CAC TECHNOLOGY - NEXT 150 - EnterNext(C) PEA-PME 150 - CAC PME

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cegid-announces-the-appointment-of-pascal-houillon-as-ceo-300417405.html

    Cegid



    Entravision Communications Corporation To Expand Digital Marketing Capabilities With Acquisition Of HeadwayLeading Digital Mobile, Programmatic, Data and Performance Marketing Platform Targets the U.S. Hispanic and Latin American MarketLeverages Entravision's U.S. Hispanic reach, sales organization and existing #1 Hispanic Digital Audience Platform, Pulpo

    SANTA MONICA, Calif., March 2, 2017 /PRNewswire/ -- Entravision Communications Corporation , a diversified media company serving Latino audiences and communities across acculturation levels, today announced that it has entered into a definitive agreement to acquire the business of Headway (www.headwaydigital.com), a leading provider of mobile, programmatic, data and performance digital marketing solutions primarily in the U.S., Mexico and Latin America.

    Founded in 2010, Headway is a pioneer and leader in digital advertising. Its rapid growth, strong advertiser base, proprietary data assets and programmatic demand-side platform offers unique performance targeting technology and data systems solutions to top advertisers and agencies.

    "The addition of Headway enhances the digital capabilities that Entravision offers to our advertising and marketing partners and our ability to target audiences and consumers," said Walter F. Ulloa, Chairman and Chief Executive Officer of Entravision. "Led by a seasoned executive team, Headway combines best in class marketing technology with a strong sales organization, product innovation and holistic operations. We expect this transaction will help us fulfill our goal of doubling Entravision's digital revenue to more than 20% of our total revenue. It further strengthens our leadership in digital marketing to U.S. Latinos, as well as expands our services to reach the 600 million people in the Latin American market."

    "The Headway acquisition represents an important milestone for Entravision," said Esteban Lopez Blanco, Entravision's Chief Strategy Officer. "This transaction will provide synergies with our more than 300 local and national transmedia sales team members in the U.S., and the Latin America region. It brings huge opportunities as digital ad spend, e-commerce, internet and smartphone penetration will continue to grow at accelerated rates for many years as compared to the U.S. market. This transaction will accelerate our digital innovation and growth by providing new products and markets while broadening our scale. We will also be increasing our proprietary data assets for Latinos with the merger of Pulpo data and Headway's DataXpand DMP. Finally, and very importantly, the acquisition of Headway helps Entravision dramatically expand its programmatic marketing capabilities via Headway's strong relationship with MediaMath. As the top global tech company for marketers, MediaMath combines advanced marketing software with global reach and scale. Headway and MediaMath's clients include the top agency holding companies and brands across Latin America."

    "This transaction represents a historical milestone for Headway," said Martin Kogan, Chief Executive Officer of Headway. "By integrating into Entravision, we will become part of a larger organization that will provide additional scale, resources, support and synergies that continue to allow us to more efficiently grow our business and invest in product development, expansion of our team and securing relationships with new clients and partners. I am excited about the value Headway mobile, creative, video, display, data, performance and programmatic expertise can bring to the table as we gain access to Entravision's assets, talent, technology and sales and marketing teams."

    Headway is headquartered in Buenos Aires, Argentina and has 152 employees in 18 offices principally located in North and South America. Following the closing of the transaction, Martin Kogan will continue to lead the company as Chief Executive Officer, with Agustin Echavarria Coll continuing to serve as Chief Revenue Officer.

    About Entravision Communications Corporation
    Entravision Communications Corporation is a leading media company that reaches and engages U.S. Latinos across acculturation levels and media channels, as well as consumers in Mexico. The company's comprehensive portfolio incorporates integrated media and marketing solutions comprised of acclaimed television, radio, digital properties, events, and data analytics services. Entravision has 54 primary television stations and is the largest affiliate group of both the Univision and UniMas television networks. Entravision also owns and operates 49 primarily Spanish-language radio stations featuring nationally recognized talent, as well as the Entravision Audio Network and Entravision Solutions, a coast-to-coast national spot and network sales and marketing organization representing Entravision's owned and operated, as well as its affiliate partner, radio stations. According to comScore Media Metrix(R), Entravision's digital operating group, Pulpo, is the #1-ranked online advertising platform in Hispanic reach, and Pulpo's comprehensive media offering, data, and consumer insights lead the industry. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.www.entravision.com.

    About Headway
    Headway, marketing powered by technology, is the leading data-driven media buying company for marketers worldwide, integrating proprietary technology and state-of-the-art partner platforms. With 18 offices currently open around the world, Headway's solutions help brands optimize and target ads to drive consumer engagement. Since 2010, the company's technology combines DMP and powerful media buying capabilities in a one stop advertising platform for seamless, data-driven campaigns for web, mobile, video, social and other digital platforms in emerging and developed markets alike. For more information, visit www.headwaydigital.com or email info@headwaydigital.com.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/entravision-communications-corporation-to-expand-digital-marketing-capabilities-with-acquisition-of-headway-300417311.html

    Entravision

    CONTACT: Contact for Entravision: Kathleen Hopkins / Mike Smargiassi,
    Brainerd Communicators, Inc., hopkins@braincomm.com / smarg@braincomm.com,
    212-986-6667

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




    Watson Health Medical Imaging Collaborative Expands to 24 Members; IBM Debuts Watson Imaging Clinical Review, the First Cognitive Imaging Offering

    ORLANDO, Fla., Feb. 20, 2017 /PRNewswire/ -- IBM today at HIMSS17 introduced IBM Watson Imaging Clinical Review -- the first cognitive imaging offering from Watson Health -- and announced the expansion of the Watson Health medical imaging collaborative to 24 organizations worldwide, adding clinical and industry expertise for the worldwide initiative already tackling eye, brain, breast, heart and related conditions.

    The Watson Health medical imaging collaborative is an initiative comprised of leading health systems, academic medical centers, private radiology practices, ambulatory radiology providers, and imaging technology companies that are finding ways to use medical imaging to identify and predict the risk of cancer, diabetes, and diseases of the eye, brain and heart and related conditions.

    New collaborative members Froedtert & the Medical College of Wisconsin, IDx LLC, PrivaCors, Strategic Radiology, Sutter Health, Pacific Radiology Group, University of Michigan and University of Virginia Health System join founding members Agfa HealthCare, Anne Arundel Medical Center, Baptist Health South Florida, Eastern Virginia Medical School, Hologic, Inc., ifa systems AG, inoveon, Radiology Associates of South Florida, Sentara Healthcare, Sheridan Healthcare, Topcon, UC San Diego Health, University of Miami Health System, University of Vermont Health Network, vRad, a MEDNAX company and Merge, an IBM company.

    "The medical imaging collaborative is vital to Watson's ongoing training and the development of cognitive imaging solutions to address the world's pressing health challenges," said Anne Le Grand, vice president of Imaging for Watson Health. "Members of the collaborative helped design and curate data for Watson Imaging Clinical Review, which we debut today at the HIMSS17 conference."

    Watson Health will debut Watson Imaging Clinical Review, the first cognitive imaging offering from IBM. The first application for the offering is cardiovascular disease, starting with a common condition called aortic stenosis (AS). AS, which affects 1.5 million Americans(1), occurs when the aortic valve in the heart is narrowed, impeding blood flow to the rest of the body and causing shortness of breath, tiredness, and chest pain.

    Watson Imaging Clinical Review uses cognitive text analytics to read structured and unstructured information in a cardiologist's medical report, combines that with a variety of data from other sources (e.g. the EMR problem list) to determine if the the cardiologist's diagnosis of aortic stenosis was propagated to the EMR record. Simply stated, if the cardiologist's report indicates a diagnosis of aortic stenosis, Watson Imaging Clinical Review helps verify that this diagnosis was propagated into the electronic health record into places like the patient's problem list or billing record.

    "Watson Imaging Clinical Review is the type of targeted AI-driven tool that providers could put to use to help them standardize care delivered across their organization, and gradually build a critical mass of reproducible results from their patient population. In doing so, it can support a population health-driven approach to personalized care," said Nadim Michel Daher, a medical imaging and informatics analyst for Frost & Sullivan.

    "Out of the gate, this type of cognitive tool may provide big benefits to hospitals and doctors, providing insights we don't currently have and doing so in a way that fits how we work," said Ricardo C. Cury, M.D., director of Cardiac Imaging at Baptist Health of South Florida and chairman and CEO of Radiology Associates of South Florida.

    IBM plans to supplement the release of this offering with nine additional cardiovascular conditions, such as myocardial infarctions (heart attacks), valve disorders, cardiomyopathy (disease of the heart muscle), and deep vein thrombosis.

    To learn more about Watson Imaging Clinical Review and other work by Watson Health's imaging group, visit HIMSS17 booth #1712. HIMSS17 -- the 2017 Health Information and Management Systems Society Annual Conference and Exhibition - takes place this week at the Orange County Convention Center in Orlando, Florida. Go online to learn about IBM Watson Health at HIMSS17 and follow IBM's Watson Health's social media channels #IBMHealthcare, #WatsonHealth, and #HIMSS17 for on-site activity updates, times and locations, as well as timely insights from the Watson Health ecosystem.

    About IBM Watson Health
    Watson is the first commercially available cognitive computing capability representing a new era in computing. The system, delivered through the cloud, analyzes high volumes of data, understands complex questions posed in natural language, and proposes evidence-based answers. Watson continuously learns, gaining in value and knowledge over time, from previous interactions. In April 2015, the company launched IBM Watson Health and the Watson Health Core cloud platform (now Watson Platform for Health). The new unit will help improve the ability of doctors, researchers and insurers to innovate by surfacing insights from the massive amount of personal health data being created and shared daily. The Watson Platform for Health can mask patient identities and allow for information to be shared and combined with a dynamic and constantly growing aggregated view of clinical, research and social health data. For more information on IBM Watson, visit: ibm.com/watson. For more information on IBM Watson Health, visit: ibm.com/watsonhealth.

    Media Contact
    Lorie Fiber
    646.318.0575
    lfiber@us.ibm.com

    1. Bach D, Radeva J, Birnbaum H, et al. Prevalence, Referral Patterns, Testing, and Surgery in Aortic Valve Disease: Leaving Women and Elderly Patients Behind. J Heart Valve Disease. 2007:362-9.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/watson-health-medical-imaging-collaborative-expands-to-24-members-ibm-debuts-watson-imaging-clinical-review-the-first-cognitive-imaging-offering-300417337.html

    Photo: http://mma.prnewswire.com/media/469699/Watson_Health_Logo.jpg
    http://mma.prnewswire.com/media/95470/ibm_logo.jpg IBM

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




    LivePerson to Participate in 29th Annual ROTH Conference

    NEW YORK, March 2, 2017 /PRNewswire/ -- LivePerson, Inc. , a leading provider of cloud-based mobile and online business messaging solutions, today announced its participation in the 29(th) Annual ROTH Conference at The Ritz-Carlton, in Laguna Niguel, CA.

    LivePerson CFO, Daniel Murphy, will be attending on Monday, March 13, 2017. A copy of the accompanying investor presentation will be accessible through the Investors section of the company's web site, www.liveperson.com/company/ir.

    About LivePerson, Inc.

    LivePerson, Inc. is a leading provider of cloud-based mobile and online business messaging solutions, enabling a meaningful connection between brands and consumers. LiveEngage, the Company's enterprise-class platform, empowers consumers to stop wasting time on hold with 1-800 numbers, and instead message their favorite brands, just as they do with friends and family. More than 18,000 businesses, including Adobe, Citibank, EE, IBM, Orbitz, PNC, and The Home Depot rely on the unparalleled intelligence, security and scalability of LiveEngage to reduce costs, increase lifetime value and create meaningful connection with consumers.

    For more information, please visit www.liveperson.com. To view other global press releases about LivePerson, please visit pr.liveperson.com.

    Investor Relations Contact
    Matthew Kempler
    mkempler@liveperson.com
    212-609-4214

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/liveperson-to-participate-in-29th-annual-roth-conference-300417377.html

    Photo: http://mma.prnewswire.com/media/178033/liveperson_logo.jpg LivePerson, Inc.

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




    Marvell Technology Group Ltd. Reports Fourth Quarter and Fiscal Year 2017 Financial Results

    SANTA CLARA, Calif., March 2, 2017 /PRNewswire/ --

    --  Q4 Revenue: $571 Million
    --  Q4 GAAP gross margin of 57.3%; Non-GAAP gross margin of 57.6%
    --  Q4 GAAP diluted loss per share from continuing operations of ($0.15);
    Non-GAAP diluted earnings per share from continuing operations of $0.22
    --  Cash and short-term investments: $1.67 Billion
    

    Marvell Technology Group Ltd. , a leader in storage, networking, and wireless connectivity semiconductor solutions, today reported financial results for the fourth fiscal quarter and the full fiscal year, ended January 28, 2017. Revenues for the fourth quarter of fiscal 2017 were $571 million, which exceeded the midpoint of the Company's guidance provided on November 17, 2016.

    GAAP net loss from continuing operations for the fourth quarter of fiscal 2017 was $77 million, or ($0.15) per share. Non-GAAP net income from continuing operations for the fourth quarter of fiscal 2017 was $114 million, or $0.22 per diluted share. Cash flow from operations for the quarter was $119 million.

    Revenue for fiscal year 2017 was $2.3 billion. GAAP net income from continuing operations for the full year was $44 million or $0.09 per diluted share. Non-GAAP net income from continuing operations for the full year was $331 million, or $0.63 per diluted share.

    "Marvell delivered another strong performance in Q4'17, which demonstrates our team's ongoing commitment to the Company's transformation and the growing power of our business model," said Matt Murphy, President and Chief Executive Officer. "Our performance also demonstrates the strength of our portfolio in the data storage, network infrastructure and wireless connectivity markets, which are core to our business."

    First Quarter of Fiscal 2018 Financial Outlook

    --  Revenue is expected to be $570 million plus or minus 2%, better than
    normal seasonality.
    --  GAAP and Non-GAAP Gross Margins are expected to be approximately 59%.
    --  GAAP Operating Expenses are expected to be $250 million to $265 million.
    --  Non-GAAP Operating Expenses are expected to be $220 million to $225
    million.
    --  GAAP Diluted EPS from continuing operations are expected to be in the
    range of $0.12 to $0.18.
    --  Non-GAAP Diluted EPS from continuing operations are expected to be in
    the range of $0.19 to $0.23.
    

    Discontinued Operations
    The Company's financial results for prior periods presented herein have been recast to reflect certain businesses that were classified as discontinued operations during the fourth quarter of fiscal year 2017.

    Conference Call
    Marvell will conduct a conference call on Thursday, March 2, 2017 at 1:45 p.m. Pacific Time to discuss results for the fourth quarter and full fiscal year 2017. Interested parties may join the conference call by dialing 1-844-647-5488 or 1-615-247-0258, pass-code 67685468. The call will be webcast by Thomson Reuters and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/ with a replay available following the call until March 10, 2017.

    Investor Day
    Marvell will hold its 2017 Investor Day at the St. Regis Hotel in New York City on March 10, 2017 from 9:30 a.m. - 12:30 p.m. Eastern Time. The live webcast and presentation materials will be available at www.marvell.com/investors. During the presentation, Marvell's leadership team will provide an update on the company's strategy, business and products, and answer questions from attendees.

    Discussion of Non-GAAP Financial Measures
    Non-GAAP financial measures exclude the effect of share-based compensation expense, amortization and write-off of acquired intangible assets, acquisition-related costs, restructuring and other related charges, litigation settlement, and certain expenses and benefits that are driven primarily by discrete events that management does not consider to be directly related to Marvell's core operating performance. Non-GAAP diluted net income per share from continuing operations is calculated by dividing Non-GAAP net income from continuing operations by Non-GAAP weighted average shares outstanding (diluted). For purposes of calculating Non-GAAP diluted net income per share, the GAAP weighted average shares outstanding (diluted) is adjusted to exclude the potential benefits of share-based compensation expected to be incurred in future periods but not yet recognized in the financial statements. The expected compensation costs are treated as additional proceeds assumed to be used to repurchase shares under the GAAP treasury stock method.

    Marvell believes that the presentation of Non-GAAP financial measures provide important supplemental information to management and investors regarding financial and business trends relating to Marvell's financial condition and results of operations. While Marvell uses Non-GAAP financial measures as a tool to enhance its understanding of certain aspects of its financial performance, Marvell does not consider these measures to be a substitute for, or superior to, financial measures calculated in accordance with GAAP. Consistent with this approach, Marvell believes that disclosing Non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance.

    Externally, management believes that investors may find Marvell's Non-GAAP financial measures useful in their assessment of Marvell's operating performance and the valuation of Marvell. Internally, Marvell's Non-GAAP financial measures are used in the following areas:

    --  Management's evaluation of Marvell's operating performance;
    --  Management's establishment of internal operating budgets;
    --  Management's performance comparisons with internal forecasts and
    targeted business models; and
    --  Management's determination of the achievement and measurement of certain
    performance-based equity awards (adjustments may vary from award to
    award).
    

    Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of Marvell's business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of Marvell's results as reported under GAAP. Marvell expects to continue to incur expenses similar to the Non-GAAP adjustments described above, and exclusion of these items from Marvell's Non-GAAP net income should not be construed as an inference that these costs are unusual, infrequent or non-recurring.

    Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995
    This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties, including: Marvell's expectations regarding its first quarter of fiscal 2018 financial outlook; and Marvell's use of Non-GAAP financial measures as important supplemental information. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "seeks," "estimates," "can," "may," "will," "would" and similar expressions identify such forward-looking statements. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, but not limited to: adverse impacts of litigation or regulatory activities; Marvell's ability to implement its restructuring in a timely manner; the amount and timing of anticipated charges associated with the restructuring; Marvell's ability to increase its operational efficiency and decrease its operating expenses to the anticipated level; its ability to divest certain non-strategic businesses within the anticipated timeframes and with the anticipated cost savings; actions that may be taken by Marvell as a result of the Audit Committee's investigation; Marvell's ability to compete in products and prices in an intensely competitive industry; Marvell's reliance on the hard disk drive and wireless markets, which are highly cyclical and intensely competitive; costs and liabilities relating to current and future litigation; Marvell's reliance on a few customers for a significant portion of its revenue; severe financial hardship or bankruptcy of one or more of Marvell's major customers; Marvell's ability to develop and introduce new and enhanced products in a timely and cost effective manner and the adoption of those products in the market; seasonality in sales of consumer devices in which Marvell's products are incorporated; uncertainty in the worldwide economic conditions; risks associated with manufacturing and selling a majority of Marvell's products and Marvell's customers' products outside of the United States; risks associated with acquisition and consolidation activity in the semiconductor industry; and other risks detailed in Marvell's SEC filings from time to time. For other factors that could cause Marvell's results to vary from expectations, please see the risk factors identified in Marvell's Quarterly Report on Form 10-Q for the fiscal quarter ended October 29, 2016 as filed with the SEC on December 6, 2016, and other factors detailed from time to time in Marvell's filings with the SEC. Marvell undertakes no obligation to revise or update publicly any forward-looking statements.

    About Marvell
    Marvell first revolutionized the digital storage industry by moving information at speeds never thought possible. Today, that same breakthrough innovation remains at the heart of the Company's storage, network infrastructure, and wireless connectivity solutions. With leading intellectual property and deep system-level knowledge, Marvell's semiconductor solutions continue to transform the enterprise, cloud, automotive, industrial, and consumer markets. To learn more, visit: www.marvell.com.

    Marvell(R) and the Marvell logo are registered trademarks of Marvell and/or its affiliates.

    Marvell Technology Group Ltd. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts) Three Months Ended Year Ended ------------------ ---------- January 28, October 29, January 30, January 28, January 30, 2017 2016 2016 2017 2016 ---- ---- ---- ---- ---- Net revenue $571,400 $626,092 $602,513 $2,317,674 $2,649,216 Cost of goods sold 243,883 268,313 292,288 1,029,527 1,442,517 ------- ------- ------- --------- --------- Gross profit 327,517 357,779 310,225 1,288,147 1,206,699 Operating expenses: Research and development 228,669 209,905 225,577 880,050 1,041,922 Selling and marketing 29,154 29,237 29,849 118,311 126,113 General and administrative 80,347 28,754 37,566 181,416 804,071 Amortization and write-off of acquired intangible assets 1,480 2,299 2,300 8,376 10,098 Total operating expenses 339,650 270,195 295,292 1,188,153 1,982,204 ------- ------- ------- --------- --------- Operating income (loss) (12,133) 87,584 14,933 99,994 (775,505) Interest and other income, net 3,780 5,470 1,084 17,022 17,685 ----- ----- ----- ------ ------ Income (loss) from continuing operations before income taxes (8,353) 93,054 16,017 117,016 (757,820) Provision (benefit) for income taxes 68,524 15,600 (1,156) 73,022 11,335 ------ ------ ------ ------ ------ Income (loss) from continuing operations (76,877) 77,454 17,173 43,994 (769,155) Loss from discontinued operations, net of tax (3,214) (4,838) (12,973) (22,843) (42,245) Net income (loss) $(80,091) $72,616 $4,200 $21,151 $(811,400) ======== ======= ====== ======= ========= Net income (loss) per share - Basic: Continuing operations $(0.15) $0.15 $0.03 $0.09 $(1.51) Discontinued operations (0.01) (0.01) (0.02) (0.05) (0.08) Net income (loss) per share basic $(0.16) $0.14 $0.01 $0.04 $(1.59) ====== ===== ===== ===== ====== Net income (loss) per share - Diluted: Continuing operations $(0.15) $0.15 $0.03 $0.09 $(1.51) Discontinued operations (0.01) (0.01) (0.02) (0.05) (0.08) Net income (loss) per share diluted $(0.16) $0.14 $0.01 $0.04 $(1.59) ====== ===== ===== ===== ====== Shares used in computing basic earnings (loss) per share 507,834 511,090 506,352 509,738 510,945 Shares used in computing diluted earnings (loss) per share 507,834 522,091 508,590 517,513 510,945

    Marvell Technology Group Ltd. Condensed Consolidated Balance Sheets (Unaudited) (In thousands) January 28, January 30, Assets 2017 2016 ---- ---- Current assets: Cash, cash equivalents and short-term investments $1,668,360 $2,282,749 Accounts receivable, net 335,384 323,300 Inventories 171,969 200,958 Prepaid expenses and other current assets 58,771 102,560 Current assets held for sale 45,846 45,095 Total current assets 2,280,330 2,954,662 Property and equipment, net 243,397 296,778 Long-term investments 4,615 11,296 Goodwill and acquired intangible assets, net 2,006,984 2,015,360 Other non-current assets 113,324 164,031 ------- ------- Total assets $4,648,650 $5,442,127 ========== ========== Liabilities and Shareholders' Equity Current liabilities: Accounts payable $143,484 $180,372 Accrued liabilities 283,138 253,691 Carnegie Mellon University accrued litigation settlement - 736,000 Deferred income 68,124 53,973 Current liabilities held for sale 1,670 1,749 Total current liabilities 496,416 1,225,785 Other non-current liabilities 124,583 76,219 ------- ------ Total liabilities 620,999 1,302,004 ------- --------- Shareholders' equity: Common stock 1,012 1,015 Additional paid- in capital 3,016,775 3,028,921 Accumulated other comprehensive income (loss) 23 (795) Retained earnings 1,009,841 1,110,982 Total shareholders' equity 4,027,651 4,140,123 Total liabilities and shareholders' equity $4,648,650 $5,442,127 ========== ==========

    Marvell Technology Group Ltd. Condensed Consolidated Statements of Cash Flows (Unaudited) (in thousands) Three Months Ended Year Ended ------------------ ---------- January 28, January 30, January 28, January 30, 2017 2016 2017 2016 ---- ---- ---- ---- Cash flows from operating activities: Net income (loss) $(80,091) $4,200 $21,151 $(811,400) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 26,683 22,800 107,851 100,176 Share-based compensation 24,058 32,419 113,970 133,779 Amortization and write-off of acquired intangible assets 1,965 2,947 10,641 12,688 Impairment of long-lived assets and restructuring related charges 50,500 289 52,581 16,032 Other non-cash expense (income), net (1,013) 7,885 7 13,811 Excess tax benefits from share-based compensation (27) 1 (37) (26) Changes in assets and liabilities: Accounts receivable 26,811 57,628 (12,084) 97,655 Inventories 18,381 69,544 29,325 90,586 Prepaid expenses and other assets(a) 12,300 (35,245) 9,722 (17,113) Accounts payable (38,694) (62,163) (28,153) (105,898) Accrued liabilities and other non-current liabilities (a) 64,238 (25,933) (695,497) 720,798 Accrued employee compensation 7,597 (18,702) 18,016 (33,338) Deferred income 6,138 (2,364) 14,072 (12,398) ----- ------ ------ ------- Net cash provided by (used in) operating activities 118,846 53,306 (358,435) 205,352 Cash flows from investing activities: Purchases of available-for-sale securities (146,046) (133,215) (489,856) (1,056,045) Sales and maturities of available-for-sale securities 199,217 477,301 856,254 1,303,500 Purchase of time deposits (75,000) - (275,000) - Maturities of time deposits 75,000 - 125,000 - Distribution from (investments in) privately-held companies (258) (119) 16 (41) Purchases of technology licenses (1,870) (1,579) (10,309) (8,236) Purchases of property and equipment (6,786) (3,894) (44,510) (37,255) Purchase of equipment previously leased - - - (10,240) Net proceeds from sale of equipment held for sale - - - 10,007 Net cash provided by investing activities 44,257 338,494 161,595 201,690 Cash flows from financing activities: Repurchase of common stock (b) (125,033) - (181,564) (260,875) Proceeds from employee stock plans 62,383 21,369 74,219 80,717 Minimum tax withholding paid on behalf of employees for net share settlement (402) (482) (16,683) (24,358) Dividend payments to shareholders (30,457) (30,447) (122,292) (122,821) Payments on technology license obligations (7,117) (1,112) (20,965) (12,528) Excess tax benefits from share-based compensation 27 (1) 37 26 Net cash used in financing activities (100,599) (10,673) (267,248) (339,839) -------- ------- -------- -------- Net increase (decrease) in cash and cash equivalents 62,504 381,127 (464,088) 67,203 Cash and cash equivalents at beginning of period 751,588 897,053 1,278,180 1,210,977 ------- ------- --------- --------- Cash and cash equivalents at end of period $814,092 $1,278,180 $814,092 $1,278,180 ======== ========== ======== ========== (a) The Company agreed to pay a total of $750.0 million to CMU in connection with the settlement agreement that was reached in February 2016. Of this settlement, the Company recognized a charge of $736.0 million in fiscal 2016. The remaining $14.0 million was recorded in prepaid expenses and other assets, to be recognized in cost of goods sold over the remaining term of the license from February 2016 through April 2018. For further detail of the accounting for the settlement, see "Note 13 - Carnegie Mellon University Settlement" in the Notes to the Unaudited Condensed Consolidated Financial Statements included in the Company's Quarterly Report on Form 10-Q for the quarter ended October 29, 2016. (b) Marvell records all repurchases of common stock consistent with the way it records investment purchases and sales, based on trade date in accordance with U.S. GAAP.

    Marvell Technology Group Ltd. Reconciliations from GAAP to Non-GAAP (Unaudited) (In thousands, except per share amounts) Three Months Ended Year Ended ------------------ ---------- January 28, October 29, January 30, January 28, January 30, 2017 2016 2016 2017 2016 ---- ---- ---- ---- ---- GAAP gross profit from continuing operations: $327,517 $357,779 $310,225 $1,288,147 $1,206,699 Special items: Share-based compensation 1,641 2,189 1,826 8,334 7,787 Restructuring and other related charges (a) - - 7 - 10,292 Amortization of and write- off acquired intangible assets - - - - 733 Other cost of good sold (b) - - 3,710 - 84,558 Total special items 1,641 2,189 5,543 8,334 103,370 Non-GAAP gross profit $329,158 $359,968 $315,768 $1,296,481 $1,310,069 ======== ======== ======== ========== ========== GAAP gross margin from continuing operations 57.3% 57.1% 51.5% 55.6% 45.5% ==== ==== ==== ==== ==== Non-GAAP gross margin 57.6% 57.5% 52.4% 55.9% 49.5% ==== ==== ==== ==== ==== Total GAAP operating expenses from continuing operations $339,650 $270,195 $295,292 $1,188,153 $1,982,204 Special items: Share-based compensation (20,764) (23,826) (28,365) (96,426) (118,174) Restructuring and other related charges (a) (98,860) (1,164) (4,389) (105,186) (53,251) Amortization of and write- off acquired intangible assets (1,480) (2,299) (2,300) (8,376) (10,098) CMU Litigation settlement - - - - (654,667) Other operating expenses (c) (315) - (6,836) (1,544) (43,914) Total special items (121,419) (27,289) (41,890) (211,532) (880,104) Total non-GAAP operating expenses $218,231 $242,906 $253,402 $976,621 $1,102,100 ======== ======== ======== ======== ========== GAAP net income (loss) $(80,091) $72,616 $4,200 $21,151 $(811,400) Net loss from discontinued operations 3,214 4,838 12,973 22,843 42,245 GAAP net income (loss) from continuing operations (76,877) 77,454 17,173 43,994 (769,155) Special items: Share-based compensation 22,405 26,015 30,191 104,760 125,961 Restructuring and other related charges (a) 98,860 1,164 4,396 105,186 63,543 Amortization of and write- off acquired intangible assets 1,480 2,299 2,300 8,376 10,831 CMU Litigation settlement - - - - 654,667 Other operating expenses (c) 315 - 10,546 1,544 128,472 Pre-tax total special items 123,060 29,478 47,433 219,866 983,474 ------- ------ ------ ------- ------- Non-GAAP income before income taxes 46,183 106,932 64,606 263,860 214,319 Tax effect of special items (d) 67,989 - - 66,918 11,511 Non-GAAP net income from continuing operations $114,172 $106,932 $64,606 $330,778 $225,830 ======== ======== ======= ======== ======== Weighted average shares - basic 507,834 511,090 506,352 509,738 510,945 ======= ======= ======= ======= ======= Weighted average shares - diluted 507,834 522,091 508,590 517,513 510,945 ======= ======= ======= ======= ======= Non-GAAP weighted average shares - diluted 528,141 531,831 518,568 527,197 526,294 ======= ======= ======= ======= ======= GAAP diluted net income (loss) per share from continuing operations $(0.15) $0.15 $0.03 $0.09 $(1.51) ====== ===== ===== ===== ====== Non-GAAP diluted net income per share from continuing operations $0.22 $0.20 $0.12 $0.63 $0.43 ===== ===== ===== ===== ===== (a) Restructuring and other related charges include costs that qualify under U.S. GAAP as restructuring costs and other incremental charges that are a direct result of restructuring. Examples of other incremental charges include impairment of equipment specifically identified as part of the restructuring action and the write down of inventories. (b) Other COGS include charges recognized for pending and settled litigation proceedings in three and twelve months ended January 30, 2016. (c) Other operating expenses in the three and twelve months ended January 30, 2016 include costs of $2.9 million and $11.4 million, respectively, for the surety bonds related to the litigation with CMU, and expenses of $3.9 million and $5.0 million, respectively, related to retention bonuses offered to employees who remained through the ramp down of certain operations due to the restructuring action announced in September 2015. Other operating expenses for the twelve months ended January 30, 2016 include charges recognized for pending and settled litigation proceedings of $12.1 million, and for a payment of $15.4 million due to our former Chief Executive Officer. (d) Tax effect of special items in the three and twelve months ended January 28, 2017 include $68.0 million of tax expense related to restructuring actions taken, which was offset in the twelve months ended January 28, 2017 by $1.1 million related tax effect of the payment to our former Chief Executive Officer. For the twelve months ended January 30, 2016, tax effect of special items included $8.4 million of tax expense related to the restructuring actions in fiscal 2016 and $3.1 million related to the payment to our former Chief Executive Officer.

    Marvell Technology Group Ltd. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts) Three Months Ended ------------------ January 28, October 29, July 30, April 30, 2017 2016 2016 2016 ---- ---- ---- ---- Net revenue $571,400 $626,092 $600,799 $519,383 Cost of goods sold 243,883 268,313 272,977 244,354 ------- ------- ------- ------- Gross profit 327,517 357,779 327,822 275,029 Operating expenses: Research and development 228,669 209,905 214,122 227,354 Selling and marketing 29,154 29,237 29,826 30,094 General and administrative 80,347 28,754 36,916 35,399 Amortization and write-off of acquired intangible assets 1,480 2,299 2,299 2,298 Total operating expenses 339,650 270,195 283,163 295,145 ------- ------- ------- ------- Operating income (loss) (12,133) 87,584 44,659 (20,116) Interest and other income, net 3,780 5,470 6,284 1,488 ----- ----- ----- ----- Income (loss) from continuing operations before income taxes (8,353) 93,054 50,943 (18,628) Provision (benefit) for income taxes 68,524 15,600 (5,745) (5,357) ------ ------ ------ ------ Income (loss) from continuing operations (76,877) 77,454 56,688 (13,271) Loss from discontinued operations, net of tax (3,214) (4,838) (5,383) (9,408) Net income (loss) $(80,091) $72,616 $51,305 $(22,679) ======== ======= ======= ======== Net income (loss) per share - Basic: Continuing operations $(0.15) $0.15 $0.11 $(0.03) Discontinued operations (0.01) (0.01) (0.01) (0.01) Net income (loss) per share basic $(0.16) $0.14 $0.10 $(0.04) ====== ===== ===== ====== Net income (loss) per share - Diluted: Continuing operations $(0.15) $0.15 $0.11 $(0.03) Discontinued operations (0.01) (0.01) (0.01) (0.01) Net income (loss) per share diluted $(0.16) $0.14 $0.10 $(0.04) ====== ===== ===== ====== Shares used in computing basic earnings (loss) per share 507,834 511,090 511,235 508,794 Shares used in computing diluted earnings (loss) per share 507,834 522,091 514,314 508,794

    Marvell Technology Group Ltd. Reconciliations from GAAP to Non-GAAP (Unaudited) (In thousands, except per share amounts) Three Months Ended ------------------ January 28, October 29, July 30, April 30, 2017 2016 2016 2016 ---- ---- ---- ---- GAAP gross profit from continuing operations: $327,517 $357,779 $327,822 $275,029 Special items: Share-based compensation 1,641 2,189 2,720 1,784 Non-GAAP gross profit $329,158 $359,968 $330,542 $276,813 ======== ======== ======== ======== GAAP gross margin from continuing operations 57.3% 57.1% 54.6% 53.0% ==== ==== ==== ==== Non-GAAP gross margin 57.6% 57.5% 55.0% 53.3% ==== ==== ==== ==== Total GAAP operating expenses from continuing operations $339,650 $270,195 $283,163 $295,145 Special items: Share-based compensation (20,764) (23,826) (31,440) (20,396) Restructuring and other related charges (a) (98,860) (1,164) (721) (4,441) Amortization of and write-off acquired intangible assets (1,480) (2,299) (2,299) (2,298) Other operating expenses (315) - 13 (1,242) ------------- Total special items (121,419) (27,289) (34,447) (28,377) Total non-GAAP operating expenses $218,231 $242,906 $248,716 $266,768 ======== ======== ======== ======== GAAP net income (loss) $(80,091) $72,616 $51,305 $(22,679) Net loss from discontinued operations 3,214 4,838 5,383 9,408 ----- GAAP net income (loss) from continuing operations (76,877) 77,454 56,688 (13,271) Special items: Share-based compensation 22,405 26,015 34,160 22,180 Restructuring and other related charges (a) 98,860 1,164 721 4,441 Amortization of and write-off acquired intangible assets 1,480 2,299 2,299 2,298 Other operating expenses 315 - (13) 1,242 ------------- Pre-tax total special items 123,060 29,478 37,167 30,161 ------- ------ ------ ------ Non-GAAP income before income taxes 46,183 106,932 93,855 16,890 Tax effect of special items (b) 67,989 - - (1,071) Non-GAAP net income from continuing operations $114,172 $106,932 $93,855 $15,819 ======== ======== ======= ======= Weighted average shares - basic 507,834 511,090 511,235 508,794 ======= ======= ======= ======= Weighted average shares - diluted 507,834 522,091 514,314 508,794 ======= ======= ======= ======= Non-GAAP weighted average shares - diluted 528,141 531,831 526,453 522,363 ======= ======= ======= ======= GAAP diluted net income (loss) per share from continuing operations $(0.15) $0.15 $0.11 $(0.03) ====== ===== ===== ====== Non-GAAP diluted net income per share from continuing operations $0.22 $0.20 $0.18 $0.03 ===== ===== ===== ===== (a) Restructuring and other related charges include costs that qualify under U.S. GAAP as restructuring costs and other incremental charges that are a direct result of restructuring. Examples of other incremental charges include impairment of equipment specifically identified as part of the restructuring action. (b) Tax effect of special items in the three months ended January 28, 2017 include $68.0 million of tax expense related to restructuring actions taken. Tax effect of special items in the three months ended April 30, 2016 include $1.1 million related tax effect of the payment to our former Chief Executive Officer.

    T. Peter Andrew
    Vice President, Investor Relations
    408-222-1145
    pandrew@marvell.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/marvell-technology-group-ltd-reports-fourth-quarter-and-fiscal-year-2017-financial-results-300417246.html

    Photo: http://mma.prnewswire.com/media/356222/marvell_logo.jpg Marvell Technology Group Ltd.

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




    Gilat and Hughes to Unveil High Performance Dual-Band Aero Antenna for In-Flight Connectivity (IFC) at Satellite 2017Partnership offers a dual Ka- and Ku-band IFC antenna, agnostic to the underlying VSAT/modem technology, enabling complete flexibility for true global connectivity services

    PETAH TIKVA, Israel and GERMANTOWN, Md., March 2, 2017 /PRNewswire/ -- Gilat Satellite Networks Ltd. , a worldwide leader in satellite networking technology, solutions and services, and Hughes Network Systems, LLC (HUGHES), an EchoStar company and the global leader in broadband satellite technology networks and services, today announced a new high-performance dual Ka / Ku-band aero antenna agnostic to the underlying VSAT modem technology and service platform. The companies have been working together for nearly two years on the development of the antenna, which will be unveiled on the first day of the Satellite 2017 show.

    The new antenna from Gilat and Hughes supports both Ka- and Ku-band on a single antenna platform while affording favorable weight and drag characteristics versus the use of two separate antennas. The dual band capability enables continuous broadband connectivity for commercial aircraft traveling air routes that require a combination of Ka and Ku coverage to serve the full air route. The antenna further meets the volume requirements for radome line-fit installations on both Airbus and Boeing aircraft, while optimizing its aperture size under the available volume.

    Gilat and Hughes are both offering the antenna to their respective customers integrated with their own aeronautical VSATs. The antenna was developed in accordance with Hughes' RF and technical specifications and is compliant with open-standard specifications. As such, it is fully interoperable with any aero modem. As part of the Gilat -- Hughes partnership, Gilat is responsible for the development and manufacturing of the antenna as well as the KRFU (RF unit) and KANDU (networking data unit) and related Part Manufacturing Authorization (PMA) licensing. Both companies are pursuing multiple Supplemental Type Certification (STC) partnerships with their customers.

    "The Gilat/Hughes partnership has resulted in one of the most innovative development projects in the global IFC space," said Michael (Miki) Barak, VP Mobility Division, at Gilat. "The antenna development is based on our long standing expertise in mobile satellite antennas and our industry leading aero transceivers and plays a key part in Gilat's IFC strategy. We believe that the antenna will enable IFC service providers to select the most efficient satellite solution for global connectivity well into the future."

    "The new dual band aero antenna is a valuable and important addition to our global aeronautical system," said Paul Gaske, Executive Vice President, North America at Hughes. "With this new antenna, airlines will now be able to enjoy uninterrupted connectivity for even the most challenging air routes that span geographies that are not served by a single satellite frequency band. This includes most trans-oceanic routes as well as major continental regions of the world such as Latin America, Asia and even Europe. The new dual band antenna is a key component of our global aeronautical system and it will enrich our IFC offering worldwide."

    About Hughes Network Systems
    Hughes Network Systems, LLC (HUGHES) is the global leader in broadband satellite technology and services for home and office. Its flagship high-speed satellite Internet service is HughesNet(R), the world's largest satellite network with over 1 million residential and business customers across North America and Brazil. For large enterprises and governments, the company's HughesON(R) managed network services provide complete connectivity solutions employing an optimized mix of satellite and terrestrial technologies. The JUPITER(TM) System is the world's most widely deployed High-Throughput Satellite (HTS) platform by leading providers operating on more than 20 satellites, as well as mobility and cellular backhaul applications. To date, Hughes has shipped more than 5.5 million satellite systems to customers in over 100 countries, representing approximately 50 percent market share.

    Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes operates sales and support offices worldwide, and is a wholly owned subsidiary of EchoStar Corporation , a premier global provider of satellite operations. For additional information about Hughes, please visit www.hughes.com and follow @Hughes_Corp on Twitter.

    About Gilat
    Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).

    Gilat's comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. We undertake no obligation to update or revise any forward-looking statements for any reason. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/gilat-and-hughes-to-unveil-high-performance-dual-band-aero-antenna-for-in-flight-connectivity-ifc-at-satellite-2017-300417211.html

    Photo: http://mma.prnewswire.com/media/455788/Hughes_Network_Systems_Logo.jpg Hughes Network Systems, LLC

    CONTACT: Gilat Satellite Networks Doreet Oren DoreetO@gilat.com; Hughes
    Network Systems, Doug Gunster, doug.gunster@hughes.com; Comm-Partners LLC
    June Filingeri, President, 203-972-0186, junefil@optonline.net

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




    Scientific Games Reports Fourth Quarter and Full Year 2016 ResultsFifth Consecutive Quarter of GrowthRecent Refinancing Transactions Reduced Cash Interest and Extended Debt MaturitiesTeam Focused on Driving Sustainable Profitable Growth and Further Deleveraging in 2017

    LAS VEGAS, March 2, 2017 /PRNewswire/ -- Scientific Games Corporation ("Scientific Games" or the "Company") today reported results for the fourth quarter and full year ended December 31, 2016. In addition, the Company recently completed financing transactions that resulted in an approximate $30 million reduction in annualized cash interest costs at current rates, an extension of a substantial portion of its debt maturities into 2021 and 2022, and a reduction in exposure to variable interest rates.

    Fourth Quarter 2016 Financial Highlights:

    --  Revenue was $752.2 million, an increase of $15.2 million, or 2 percent,
    over the strong revenue generated in the year-ago quarter, despite $12.2
    million of unfavorable currency translation. Revenue growth included a
    52 percent increase in social B2C gaming, as well as a 37 percent
    increase in table products.
    --  Operating loss was $12.3 million, which included a $69.0 million
    non-cash goodwill impairment charge and restructuring and other charges
    of $36.3 million compared to a loss of $54.4 million in the prior-year
    period, which included goodwill and other impairment charges of $129.4
    million. These items also are reflected in the improvement in Net loss
    decreasing to $110.8 million compared to a net loss of $127.5 million in
    the prior-year period.
    --  Attributable EBITDA ("AEBITDA"), a non-GAAP financial measure as defined
    below, was $293.5 million compared to $292.9 million in the prior-year
    period, benefiting from lower selling, general and administrative
    expense as a result of the actions implemented in the fourth quarter
    under our business improvement initiative. The improvement was partially
    offset by slightly lower revenue in the gaming and lottery segments,
    which benefited in the prior-year period from several non-recurring
    items, as well as higher interactive marketing and player acquisition
    costs related to the launch of the three social gaming apps launched
    during the preceding 12 months.
    --  Net cash from operating activities decreased to $76.2 million from
    $158.7 million in the prior-year quarter, largely reflecting the
    unfavorable timing of certain items that impacted changes in working
    capital as well as higher cash costs related to recent restructuring
    activities. Free cash flow, a non-GAAP financial measure as defined
    below, declined to $2.1 million compared to $59.2 million in the
    year-ago quarter, largely reflecting an unfavorable impact from changes
    in working capital, as well as higher cash costs related to
    restructuring.
    --  The Company maintained focus on deleveraging by paying down $17.2
    million of debt in the fourth quarter.
    

    Full Year 2016 Financial Highlights:

    --  Revenue increased 5 percent, or $124.6 million, year over year to
    $2,883.4 million.
    --  Operating income was $130.6 million, which included a $69.0 million
    non-cash goodwill impairment charge as well as $57.0 million of
    restructuring and other expense. The prior-year operating loss was
    $1,024.6 million, which included $1,002.6 of goodwill impairment charges
    as well as $205.2 million of other long-term asset impairments, and
    $62.8 million of restructuring and other expense, integration costs and
    other charges, and legal contingencies and settlement costs. These
    items, as well as a $25.2 million non-cash gain on early extinguishment
    of debt in 2016, are also reflected in the improvement in the Net loss
    of $353.7 million compared to a net loss of $1,394.3 million in the
    year-ago period.
    --  AEBITDA, a non-GAAP financial measure as defined below, was $1,103.6
    million, a 3 percent increase over the prior year.
    --  Net cash from operating activities increased to $419.0 million compared
    with $414.2 million in the prior year.  Free cash flow, a non-GAAP
    financial measure as defined below, rose to $120.0 million from $86.1
    million in the prior year.
    --  During 2016, the Company reduced the principal amount of its total debt
    by $169.4 million.
    

    Scientific Games CEO Kevin Sheehan said, "2016 was another year of growth, progress and industry-leading product innovation for Scientific Games. The 2016 fourth quarter was the fifth consecutive quarter of growth with year-over-year revenue growth besting last year's strong performance. Our Gaming division continues to lead with innovation and strong execution, including the launch of the Gamescape(TM) platform, which in the fourth quarter helped drive the first quarterly sequential increase in our wide-area progressive ("WAP") premium participation installed base in more than three years, as well as the initial very promising performance of our innovative TwinStar(TM) J43 for-sale gaming cabinet. Our Lottery division extended its steady momentum with several big contract wins and successful systems launches in the U.S. and around the world. Our SG Interactive(R) performance remains stellar, with the exciting play of our social game apps driving social B2C gaming revenue up 52 percent versus the year-ago quarter. A third-party report estimates that the rapid growth of SG Interactive in its B2C business has led to five consecutive quarters of outperforming the social casino market, including fourth quarter 2016 year-over-year growth that was five times the social gaming industry growth.

    "With 2017 off and running, we are maintaining focus on playing smart to galvanize our business growth. We are driving innovation to create new, differentiated products for our customers, improve financial performance to accelerate deleveraging, and build a culture open to new ideas and committed to exceeding the expectations of our customers and stakeholders," Sheehan said.

    Scientific Games CFO Michael Quartieri added, "We continue to refine our business processes to yield greater financial discipline, while ensuring continued investment in innovation to drive profitable growth. While improvement initiatives implemented in the fourth quarter had a cash cost of $6 million, we expect these actions will expand our margins and cash flow in 2017. Importantly, in early 2017 we took steps that reduced our annual cash interest burden by approximately $30 million at current rates, while extending the average maturity of our capital structure. We expect these steps will yield a planned increase in cash flow that supports our goal of additional deleveraging in 2017."

    SUMMARY CONSOLIDATED RESULTS Three Months Twelve Months ($ in millions, except per share amounts) Ended Dec. 31, Ended Dec. 31, 2016 2015 2016 2015 ---- ---- ---- ---- Revenue $752.2 $737.0 $2,883.4 $2,758.8 Operating (loss) income (12.3) (54.4) 130.6 (1,024.6) Net loss (110.8) (127.5) (353.7) (1,394.3) Net cash provided by operating activities 76.2 158.7 419.0 414.2 Capital expenditures (58.5) (90.0) (272.9) (323.6) Net payment of debt (17.2) (32.5) (139.7) (141.3) Increase (decrease) in cash and cash equivalents (5.8) 26.6 (13.6) (43.1) Non-GAAP Financial Measures: (1) ------------------------------- AEBITDA $293.5 $292.9 $1,103.6 $1,075.2 AEBITDA margin 39.0% 39.7% 38.3% 39.0% Free cash flow $2.1 $59.2 $120.0 $86.1 Dec. 31 Dec. 31 Balance Sheet Measures, as of: 2016 2015 ------------------------------ ---- ---- Cash and cash equivalents $115.1 $128.7 Total debt $8,074.2 $8,207.0 Available liquidity $631.6 $583.0 (1) The financial measures "AEBITDA", "AEBITDA margin", "free cash flow", and "EBITDA from equity investments" (disclosed in a table below) are non-GAAP financial measures defined below under "Non-GAAP Financial Measures" and reconciled to the most directly comparable GAAP measures in the accompanying supplemental tables at the end of this release.

    GAMING SEGMENT HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2016 GAMING SEGMENT Three Months Ended -------------- ($ in millions) December 31, Increase (Decrease) 2016 2015 Amount % ---- ---- ------ --- Revenue Gaming operations $172.6 $186.1 $(13.5) (7.3)% Gaming machine sales 169.5 174.1 (4.6) (2.6)% Gaming systems 63.9 68.6 (4.7) (6.9)% Table products 54.9 40.2 14.7 36.6% ---- ---- ---- $460.9 $469.0 $(8.1) (1.7)% Operating income $70.4 $53.6 $16.8 31.3% AEBITDA(1) $219.1 $221.3 $(2.2) (1.0)% AEBITDA margin 47.5% 47.2% (1) AEBITDA in the 2016 and 2015 fourth quarter periods included $2.1 million and $1.6 million, respectively, of EBITDA from equity investments in International Terminal Leasing ("ITL") and Roberts Communications Network, LLC ("RCN").

    --  Gaming revenue decreased $8.1 million to $460.9 million, inclusive of a
    $7.8 million unfavorable foreign currency impact compared to the strong
    revenue generated in the prior-year period, which also benefited from a
    shipment of Oregon VLTs and a larger-than-typical number of
    convert-to-sale of leased gaming machines.
    --  Operating income improved to $70.4 million from $53.6 million in the
    year-ago period. Operating income in the 2016 fourth quarter primarily
    benefited from lower costs for selling, general and administrative and
    depreciation and amortization, partially offset by the impact of lower
    revenue.
    --  AEBITDA was $219.1 million, as a slight increase in AEBITDA margin to
    47.5 percent largely offset the lower revenue.
    --  Gaming operations revenue declined 7 percent, reflecting a
    year-over-year decline of 787 units in the installed base of WAP,
    premium and daily-fee participation gaming machines along with a $2.97
    decrease in average revenue per unit. On a quarterly sequential basis,
    the footprint of WAP units in the installed base increased approximately
    1 percent reflecting the addition of the innovative, high-performing
    Gamescape cabinet that features the WILLY WONKA(TM) WORLD OF WONKA game,
    while the total installed base of WAP, premium and daily-fee
    participation units decreased 198 units.The installed base of other
    participation and leased games declined 475 units year over year, and
    the average daily revenue of these units decreased $1.05, largely
    reflecting the impact of unfavorable currency translation related to the
    U.K. installed base. In local currency, the average daily revenue of the
    U.K. units increased 1 percent on a per unit basis.
    --  Gaming machine sales revenue declined $4.6 million year over year. U.S.
    and Canadian shipments totaled 5,115 units that comprised 3,604
    replacement units and 1,511 units for new casino openings and expansions
    (including 282 Illinois VGT units). In the prior-year period, U.S. and
    Canadian shipments totaled 5,366 units that comprised 3,571 replacement
    units, 884 Oregon VLTs, and 911 units for new casino openings and
    expansions (including 286 Illinois VGT units). International shipments
    rose 14 percent to 4,119 units, and included 404 units for new casino
    openings and expansions compared to 274 units in the prior-year quarter.
    Notable growth was experienced in Australia and Europe.Contributing to
    the global shipment growth were higher sales of the TwinStar and Dualos
    cabinets, along with the continued popularity of the Pro Series WAVE
    cabinet.  Average selling price was $16,268 compared with $17,137 in the
    prior-year period which had benefited from a stronger mix of the premium
    Pro Series WAVE cabinet.
    --  Gaming systems revenue was $63.9 million compared to $68.6 million in
    the year-ago quarter, largely reflecting lower hardware sales.
    --  Table products revenue increased 37 percent, due to an increase in sales
    of shufflers and other utility products, primarily into Asian markets,
    and a 6 percent increase in revenue from leased shufflers, proprietary
    table games, and progressives. The installed base of shufflers increased
    5 percent to a record quarter-end level of installed units, while
    proprietary table games and table game progressives also increased,
    partially due to the success of the Blazing 7s Blackjack(TM)
    Progressive. The acquisition of DEQ Systems Corp., with its popular EZ
    Baccarat(R) brand, was completed January 18, 2017.
    

    LOTTERY SEGMENT HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2016 LOTTERY SEGMENT Three Months Ended --------------- ($ in millions) December 31, Increase (Decrease) 2016 2015 Amount % ---- ---- ------ --- Revenue Instant games $140.5 $142.0 $(1.5) (1.1)% Services 41.9 49.0 (7.1) (14.5)% Product sales 17.3 16.7 0.6 3.6% ---- ---- --- $199.7 $207.7 $(8.0) (3.9)% Operating loss $(26.2) $(63.4) $37.2 58.7% AEBITDA(1) $79.1 $90.6 $(11.5) (12.7)% AEBITDA margin 39.6% 43.6% (1) AEBITDA in the 2016 and 2015 fourth quarter periods included $11.8 million and $16.9 million, respectively, of EBITDA from equity investments in Lotterie Nazionali S.r.l. ("LNS"), Northstar New Jersey Lottery Group, LLC, Beijing Guard Libang Technology Co., Ltd., Beijing CITIC Scientific Games Technology Co. Ltd. ("CSG"), Hellenic Lotteries S.A. ("Hellenic Lotteries") and Northstar Lottery Group, LLC ("Northstar Illinois").

    --  Lottery revenue declined $8.0 million to $199.7 million, reflecting an
    unfavorable $4.4 million impact due to the previously disclosed
    expiration of the China Sports Lottery validation contract in January
    2016 and $3.0 million of unfavorable foreign currency translation.
    --  Operating loss, which included a $69.0 million non-cash goodwill
    impairment charge related to the international lottery systems reporting
    unit, improved by $37.2 million, partially reflecting lower costs for
    selling, general and administrative and depreciation and amortization,
    offset by higher costs for research and development and restructuring
    and other expense. The prior-year period included $115.0 million of
    non-cash asset and goodwill impairment charges, and benefited from the
    China Sports Lottery validation contract and a one-time contract
    termination payment.
    --  AEBITDA declined primarily reflecting the lower revenue and a $5.1
    million decrease in EBITDA from equity investments.
    --  Instant games revenue was 1 percent lower than the prior year period. As
    a result of the timing of licensed instant game launches and the
    discontinuance of the MONOPOLY(TM) MILLIONAIRES' CLUB instant game at
    the end of 2015, U.S. instant games declined 3 percent in the 2016
    fourth quarter. The U.S. instant games revenue was partially offset by a
    2 percent increase in international revenue primarily from participation
    contract customers, despite the impact of unfavorable foreign currency
    translation.
    --  Services revenue declined 14 percent year over year due to lower
    international revenue, primarily due to the impact of the China Sports
    Lottery validation contract expiration. U.S. revenue was essentially
    flat, as the expiration of an Indiana contract was largely offset by the
    initiation of a new lottery service contract in Arizona.
    --  Product sales revenue increased 4 percent, primarily reflecting higher
    lottery terminal sales.
    --  Recently, the Missouri Lottery extended its instant game contract with
    Scientific Games as primary provider by three additional years; and
    Norsk Tipping, Norway's national lottery operator, awarded the Company
    two three-year contracts to provide interactive casino and eInstant
    games.
    

    INTERACTIVE SEGMENT HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2016 INTERACTIVE SEGMENT Three Months Ended ------------------- (in millions, except ARPDAU) December 31, Increase (Decrease) 2016 2015 Amount % ---- ---- ------ --- Revenue Social gaming - B2C $74.8 $49.2 $25.6 52.0% Other interactive 16.8 11.1 5.7 51.4% $91.6 $60.3 $31.3 51.9% Operating income $13.7 $9.6 $4.1 42.7% AEBITDA $19.7 $13.5 $6.2 45.9% AEBITDA margin 21.5% 22.4% Interactive Key Performance Indicators Interactive - social casinos: ----------------------------- Average monthly average user(1) 7.7 8.1 (0.4) (4.9)% Average daily average user(2) 2.4 2.3 0.1 4.3% Average daily revenue per daily average user(3) $0.34 $0.22 $0.12 54.5% Mobile penetration(4) 70% 66% 4 pp 6.1% (1) Monthly Active Users and is a count of unique visitors to our site during a month. (2) Daily Active Users and is a count of unique visitors to our site during a day. (3) Average daily revenue per DAU is calculated by dividing revenue by the DAU by the number of days for the period. (4) Mobile penetration = percentage of B2C social gaming revenue derived from mobile platforms. pp = percentage points.

    --  Total Interactive revenue grew 52 percent to $91.6 million, despite a
    $1.4 million unfavorable foreign currency translation impact.
    --  B2C Social gaming revenue rose 52 percent reflecting the ongoing
    popularity of Jackpot Party(R) Social Casino and success of the newer
    Quick Hit(R) Slots, Hot Shot Casino(TM) and Blazing 7s(R) Slots social
    gaming apps.
    --  Operating income increased 43% to $13.7 million and AEBITDA rose 46
    percent to $19.7 million, primarily reflecting higher revenue partially
    offset by increased selling, general and administrative expense and
    research and development expense largely due to higher marketing and
    player acquisition expenses for the Company's newest social casino apps,
    and new product development costs to support ongoing growth initiatives
    for which revenue has not yet been recognized.
    --  Average DAU rose due to the growth in users from additional new game
    apps, while the 55 percent increase in ARPDAU to $0.34 reflects a
    greater proportion of paying players as a result of our focus on
    continuous improvements in player experience and retention activity.
    

    BUSINESS IMPROVEMENT INITIATIVE

    --  During the 2016 fourth quarter, the Company initiated and largely
    completed a global business improvement initiative to create a more
    efficient and streamlined business organization. The initiative is
    anticipated to reduce annualized costs by $75 million upon full
    implementation, primarily by a streamlining of processes, a reduction in
    global headcount and lower operating costs. During the fourth quarter,
    cash costs to implement the initiative were $6 million. As a global
    initiative, certain implementation actions are expected to take place in
    the first half of 2017, with approximately $16 million of cash costs
    anticipated to be incurred in the first half of 2017 to complete the
    remaining actions.
    

    LIQUIDITY AND CAPITAL RESOURCES

    --  Subsequent to December 31, 2016, the Company implemented a series of
    refinancing transactions, including a private offering of $1.15 billion
    in aggregate principal amount of 7.000% senior secured notes due 2022 at
    an issue price of 106.0%, and amended its credit agreement, which
    extended the maturity of its term loans and revolving credit facility,
    reduced the applicable interest rate on the term loans to a rate of
    LIBOR plus 400 basis points with a LIBOR floor of 75 basis points, and
    reduced the availability under the revolving credit facility to $556
    million through October 18, 2018 and $382 million through October 2020.
    These actions reduced the total principal amount of the Company's debt
    by $45 million through payment of the remaining $45 million on its
    revolving credit facility, lowered annual cash interest cost by
    approximately $30 million at current interest rates, extended the
    maturity out to 2021 and 2022 for 95 percent of its debt, and reduced
    its exposure to variable interest rates to 32 percent from 43 percent at
    December 31, 2016.
    --  The Company intends to redeem all of its outstanding 8.125% Senior
    Subordinated Notes due 2018 (the "2018 Notes") on March 17, 2017 (the
    "Redemption Date"). The redemption price is equal to 100% of the
    principal amount of the 2018 Notes, plus accrued and unpaid interest to
    the Redemption Date. The 2018 Notes are expected to be settled in cash
    on the Redemption Date in accordance with the terms of the indenture
    governing the 2018 Notes. A notice of redemption containing information
    required by the terms of the indenture governing the 2018 Notes was
    distributed by Deutsche Bank Trust Company Americas, the trustee under
    that indenture, on February 14, 2017.
    --  During the quarter ended December 31, 2016, the Company made net
    payments of $17.2 million toward its debt, including $5.0 million of
    voluntary net repayments under its revolving credit facility and $10.7
    million in mandatory amortization of its term loans, as well as capital
    lease payments. Cash and cash equivalents decreased to $115.1 million
    during the fourth quarter.
    --  The Company remains committed to prioritizing debt repayments from cash
    flow. In aggregate, the total principal face value of debt was reduced
    by $169.4 million in 2016, an increase over the $142.0 million reduction
    achieved in 2015.
    --  Capital expenditures were $58.5 million in the fourth quarter 2016, and
    $272.9 million for the full year 2016. For 2017, the Company expects
    capital expenditures to be within a range of $280-to-$310 million.
    

    Earnings Conference Call
    Scientific Games executive leadership will host a conference call today, March 2, 2017, at 4:30 p.m. EST to review the Company's fourth quarter and full year results. To access the call live via a listen-only webcast and presentation, please visit scientificgames.com/investors/quarterly-earning and click on the webcast link under the Investor Information section. To access the call by telephone, please dial: 1 (412) 317-5413 (U.S. and International) and ask to join the Scientific Games Corporation call. A replay of the webcast will be archived in the Investors section on ScientificGames.com.

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

    COMPANY CONTACTS

    Investor Relations:
    Bill Pfund +1 702-532-7663
    Vice President, Investor Relations
    bill.pfund@scientificgames.com

    Media Relations:
    Susan Cartwright +1 702-532-7981
    Vice President, Corporate Communications
    susan.cartwright@scientificgames.com

    MONOPOLY is a trademark of Hasbro. Used with permission. (C) 2017 Hasbro. All rights reserved.
    WILLY WONKA AND THE CHOCOLATE FACTORY and all related characters and elements (C) Warner Bros. Entertainment Inc. (s17)
    All (R) notices signify marks registered in the United States. (C) 2017 Scientific Games Corporation. All Rights Reserved.

    Forward-Looking Statements
    In this press release, Scientific Games makes "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," "target," "should," "could," "potential," "opportunity," "goal," or similar terminology. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks and uncertainties and other factors, including, among other things: competition; U.S. and international economic and industry conditions, including slow growth of new gaming jurisdictions, slow addition of casinos in existing jurisdictions, and declines in the replacement cycle of gaming machines; ownership changes and consolidation in the gaming industry; opposition to legalized gaming or the expansion thereof; inability to adapt to, and offer products that keep pace with, evolving technology, including any failure of our investment of significant resources in our R&D efforts; inability to develop successful products and services and capitalize on trends and changes in our industries, including the expansion of internet and other forms of interactive gaming; laws and government regulations, including those relating to gaming licenses and environmental laws; dependence upon key providers in our social gaming business; inability to retain or renew, or unfavorable revisions of, existing contracts, and the inability to enter into new contracts; level of our indebtedness, higher interest rates, availability or adequacy of cash flows and liquidity to satisfy indebtedness, other obligations or future cash needs; inability to reduce or refinance our indebtedness; restrictions and covenants in debt agreements, including those that could result in acceleration of the maturity of our indebtedness; protection of our intellectual property, inability to license third party intellectual property, and the intellectual property rights of others; security and integrity of our products and systems and reliance on or failures in information technology and other systems; challenges or disruptions relating to the implementation of a new global enterprise resource planning system; failure to maintain internal control over financial reporting; natural events that disrupt our operations or those of our customers, suppliers or regulators; inability to benefit from, and risks associated with, strategic equity investments and relationships; failure to achieve the intended benefits of our acquisitions; incurrence of restructuring costs; implementation of complex revenue recognition standards or other new accounting standards; changes in estimates or judgments related to our impairment analysis of goodwill or other intangible assets; fluctuations in our results due to seasonality and other factors; dependence on suppliers and manufacturers; risks relating to foreign operations, including fluctuations in foreign currency exchange rates, restrictions on the payment of dividends from earnings, restrictions on the import of products and financial instability, including the potential impact to our business resulting from the affirmative vote in the U.K. to withdraw from the EU, and the potential impact to our instant lottery game concession or VLT lease arrangements resulting from the recent economic and political conditions in Greece; changes in tax laws or tax rulings, or the examination of our tax positions; dependence on key employees; litigation and other liabilities relating to our business, including litigation and liabilities relating to our contracts and licenses, our products and systems, our employees (including labor disputes), intellectual property, environmental laws and our strategic relationships; influence of certain stockholders; and stock price volatility.

    Additional information regarding risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including the Company's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC (including under the headings "Forward Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Scientific Games' ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

    Non-GAAP Financial Measures
    The Company's management uses the following non-GAAP financial measures in conjunction with GAAP financial measures: AEBITDA, AEBITDA margin, free cash flow and EBITDA from equity investments (each, as described more fully below). These non-GAAP financial measures are presented as supplemental disclosures. They should not be considered in isolation of, as a substitute for, or superior to, the financial information prepared in accordance with GAAP, and should be read in conjunction with the Company's financial statements filed with the SEC. The non-GAAP financial measures used by the Company may differ from similarly titled measures presented by other companies.

    Specifically, the Company's management uses AEBITDA and free cash flow to, among other things: (i) monitor and evaluate the performance of the Company's business operations; (ii) facilitate management's internal comparisons of the Company's historical operating performance; and (iii) analyze and evaluate financial and strategic planning decisions regarding future operating investments and operating budgets. In addition, the Company's management uses AEBITDA and AEBITDA margin to facilitate management's external comparisons of the Company's results to the historical operating performance of other companies that may have different capital structures and debt levels. The Company's management uses EBITDA from equity investments to monitor and evaluate the performance of the Company's equity investments.

    The Company's management believes that each of these non-GAAP financial measures are useful as they provide investors with information regarding the Company's financial condition and operating performance that is an integral part of management's reporting and planning processes. In particular, the Company's management believes that AEBITDA, both on a consolidated and business segment basis, is helpful because this non-GAAP financial measure eliminates the effects of restructuring, transaction, integration or other items that management believes have less bearing on the Company's ongoing underlying operating performance. Management believes AEBITDA margin, both on a consolidated and business segment basis, is useful for analysts and investors as this measure allows an evaluation of the performance of our ongoing business operations and provides insight into the cash operating income margins generated from our business, from which capital investments are made and debt is serviced. Moreover, management believes AEBITDA and EBITDA from equity investments are useful to investors because the Company's Lottery business is also conducted through a number of equity investments, and those measures eliminate financial items from the equity investees' earnings that management believes have less bearing on the equity investees' performance. Management believes that free cash flow provides useful information regarding the Company's liquidity and its ability to service debt and fund investments. Management also believes that free cash flow is useful for investors because it provides them with an important perspective on the cash available for debt repayment and other strategic measures, after making necessary capital investments in property and equipment and necessary license payments to support the Company's ongoing business operations and taking into account cash flows relating to the Company's equity investments.

    AEBITDA
    AEBITDA, as used herein, is a non-GAAP financial measure that is presented as supplemental disclosure and is reconciled to net income (loss) as the directly comparable GAAP measure, which is further reconciled to operating income (loss) by business segment, as set forth in the schedules titled "Reconciliation of Net Loss to Attributable EBITDA" below. We also present AEBITDA by business segment in this earnings release. AEBITDA should not be considered in isolation of, as a substitute for, or superior to, the financial information prepared in accordance with GAAP, and should be read in conjunction with the Company's financial statements filed with the SEC. AEBITDA may differ from similarly titled measures presented by other companies.

    AEBITDA, as used herein, is reconciled to net income (loss) in the following table and includes our net loss with the following adjustments: (1) interest; (2) income taxes; (3) depreciation and amortization expense and impairment charges (including goodwill impairment charges); (4) restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management changes; (iii) restructuring and integration; (iv) M&A and other, which includes: (a) M&A transaction costs, (b) purchase accounting, (c) unusual items (including legal settlements), and (d) other non-cash items; and (v) cost savings initiatives; and (5) stock-based compensation. In addition to the preceding adjustments, we exclude earnings from equity method investments and add (without duplication) our pro rata share of the EBITDA of our equity investments.

    In the third quarter of 2016, we simplified our reconciliation of AEBITDA on a prospective basis. This change does not modify our calculation or definition of AEBITDA or the items that are included as adjustments. This presentation change merely consolidates the amounts previously included in adjustments (4) and (6) above, which were previously reported as two separate line items ("M&A and other charges (incl. purchase accounting)" and "Employee termination and restructuring"), into a single line item ("Restructuring and other") in order to align with our GAAP financial statement presentation.

    AEBITDA margin
    AEBITDA margin, as used herein, represents our AEBITDA (as defined above) for the three and twelve-month periods ended December 31, 2016 and 2015, each calculated as a percentage of revenue. AEBITDA margin is a non-GAAP financial measure that is presented as supplemental disclosures for illustrative purposes only and is reconciled to net loss in a schedule below. We also present AEBITDA margin by business segment in this release. These amounts are reconciled to consolidated net income (loss) as the nearest GAAP measure, which is further reconciled to operating income (loss) by operating segment.

    Free Cash Flow
    Free cash flow, as used herein, represents net cash provided by operating activities less total capital expenditures (which includes lottery and gaming systems expenditures and other intangible assets and software expenditures), less payments on license obligations, less additions to equity investments plus distributions of capital on equity investments. Free cash flow is a non-GAAP financial measure that is presented as supplemental disclosure for illustrative purposes only and is reconciled to net cash provided by operating activities in a schedule below. Our definition of "free cash flow" was modified in the first quarter of 2016 to include payments on license obligations, additions to equity investments and distributions of capital on equity investments. In order to enhance comparability, free cash flow for prior periods (including the accompanying tables) has been conformed to the new definition.

    EBITDA from Equity Investments
    EBITDA from equity investments, as used herein, represents our share of the EBITDA (i.e., earnings (whether or not distributed to us) plus income tax expense, depreciation and amortization expense and interest (income) expense, net of other) of our joint ventures and minority investees. EBITDA from equity investments is a non-GAAP financial measure that is presented as supplemental disclosure for illustrative purposes only and is reconciled to earnings from equity investments in a schedule below.

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in millions, except per share amounts) Three Months Ended December 31, Twelve Months Ended December 31, ------------------------------- -------------------------------- 2016 2015 2016 2015 ---- ---- ---- ---- Revenue: Services $353.8 $343.0 $1,424.0 $1,351.8 Product sales 257.9 252.0 896.2 863.0 Instant games 140.5 142.0 563.2 544.0 Total revenue 752.2 737.0 2,883.4 2,758.8 ----- ----- ------- ------- Operating expenses: Cost of services (1) 102.2 98.1 396.5 372.7 Cost of product sales(1) 124.9 112.3 424.6 405.5 Cost of instant games(1) 72.4 113.0 285.2 325.9 Selling, general and administrative 137.0 144.1 577.0 567.7 Research and development 49.4 43.1 204.8 183.9 Depreciation, amortization and impairments 173.3 210.3 738.7 903.2 Goodwill impairments 69.0 67.6 69.0 1,002.6 Restructuring and other 36.3 2.9 57.0 21.9 ---- --- ---- ---- Total operating expenses 764.5 791.4 2,752.8 3,783.4 Operating (loss) income (12.3) (54.4) 130.6 (1,024.6) ----- ----- ----- -------- Other (expense) income: Interest expense (165.0) (167.4) (661.4) (664.9) Earnings (loss) from equity investments (5.5) 7.5 13.0 16.9 Gain on early extinguishment of debt - - 25.2 - Other income (expense), net 5.5 (4.2) 13.9 (21.6) Total other expense, net (165.0) (164.1) (609.3) (669.6) ------ ------ ------ ------ Net loss before income taxes (177.3) (218.5) (478.7) (1,694.2) Income tax benefit 66.5 91.0 125.0 299.9 ---- ---- ----- ----- Net loss $(110.8) $(127.5) $(353.7) $(1,394.3) ======= ======= ======= ========= Basic and diluted net loss per share: Basic $(1.26) $(1.48) $(4.05) $(16.23) ====== ====== ====== ======= Diluted $(1.26) $(1.48) $(4.05) $(16.23) ====== ====== ====== ======= Weighted average number of shares used in per share calculations: Basic shares 87.7 86.3 87.3 85.9 ==== ==== ==== ==== Diluted shares 87.7 86.3 87.3 85.9 ==== ==== ==== ==== (1) Exclusive of depreciation and amortization

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) December 31, December 31, 2016 2015 ---- ---- Assets: Cash and cash equivalents $115.1 $128.7 Restricted cash 24.7 20.2 Accounts receivable, net 495.0 487.1 Notes receivable, net 125.4 167.7 Inventories 242.3 248.5 Prepaid expenses, deposits and other current assets 114.1 123.3 Total current assets 1,116.6 1,175.5 Restricted cash 17.1 17.9 Notes receivable, net 48.1 51.3 Property and equipment, net 612.2 794.0 Goodwill 2,888.4 3,013.7 Intangible assets, net 1,768.3 1,920.0 Software, net 409.1 485.9 Equity investments 179.9 228.5 Other assets 47.7 45.4 Total assets $7,087.4 $7,732.2 ======== ======== Liabilities and Stockholders' Deficit: Current portion of long-term debt $49.3 $50.3 Accounts payable 188.9 159.8 Accrued liabilities 454.2 443.8 Total current liabilities 692.4 653.9 Deferred income taxes 70.2 228.2 Other long-term liabilities 235.6 188.9 Long-term debt, excluding current portion 8,024.9 8,156.7 Total stockholders' deficit (1,935.7) (1,495.5) Total liabilities and stockholders' deficit $7,087.4 $7,732.2 ======== ========

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions) Three Months Ended Twelve Months Ended December 31, December 31, ------------ ------------ 2016 2015 2016 2015 ---- ---- ---- ---- Cash flows from operating activities: Net loss $(110.8) $(127.5) $(353.7) $(1,394.3) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation, amortization and impairments 173.3 210.3 738.7 903.2 Change in deferred income taxes (63.9) (107.3) (164.6) (330.6) Stock-based compensation 11.8 5.9 35.3 25.4 Non-cash interest expense 10.1 11.2 40.4 40.2 Earnings (loss) from equity investments, net 5.5 (7.5) (13.0) (16.9) Distributed earnings from equity investments 9.7 4.0 26.4 24.9 Gain on early extinguishment of debt - - (25.2) - Goodwill impairments 69.0 67.6 69.0 1,002.6 Changes in current assets and liabilities and other (28.5) 102.0 65.7 159.7 Net cash provided by operating activities 76.2 158.7 419.0 414.2 Cash flows from investing activities: Capital expenditures (58.5) (90.0) (272.9) (323.6) Change in other assets and liabilities and other 13.5 5.1 19.6 15.2 Distributions of capital on equity investments 1.3 1.7 25.3 38.7 Change in restricted cash (0.2) (3.4) (3.7) 5.9 ---- ---- ---- --- Net cash used in investing activities (43.9) (86.6) (231.7) (263.8) Cash flows from financing activities: Net payments of long-term debt (17.2) (32.5) (139.7) (141.3) Payments on license obligations (15.7) (8.5) (50.2) (40.5) Net redemptions of common stock under stock-based compensation plans and (1.4) (1.3) (6.1) (1.4) other --- Net cash used in financing activities (34.3) (42.3) (196.0) (183.2) Effect of exchange rate changes on cash and cash equivalents (3.8) (3.2) (4.9) (10.3) ---- ---- ---- ----- (Decrease) increase in cash and cash equivalents (5.8) 26.6 (13.6) (43.1) Cash and cash equivalents, beginning of period 120.9 102.1 128.7 171.8 Cash and cash equivalents, end of period $115.1 $128.7 $115.1 $128.7 ====== ====== ====== ======

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONSOLIDATED BUSINESS SEGMENT DATA RECONCILIATION OF NET LOSS TO ATTRIBUTABLE EBITDA (Unaudited, in millions) Three Months Ended December 31, 2016 ------------------------------------ Total Gaming Lottery Interactive Corporate Consolidated ------ ------- ----------- --------- ------------ Revenue: Services $220.3 $41.9 $91.6 $ - $353.8 Product sales 240.6 17.3 - - 257.9 Instant games - 140.5 - - 140.5 Total revenue $460.9 $199.7 $91.6 $ - $752.2 ------ ------ ----- --------------- ------ Operating expenses: Cost of services (1) $39.6 $28.6 $34.0 $ - $102.2 Cost of product sales (1) 112.4 12.5 - - 124.9 Cost of instant games (1) - 72.4 - - 72.4 Selling, general and administrative 55.7 15.6 33.6 32.1 137.0 Research and development 37.9 4.6 5.1 1.8 49.4 Depreciation, amortization and impairments 135.3 16.3 3.7 18.0 173.3 Goodwill impairment - 69.0 - - 69.0 Restructuring and other 9.6 6.9 1.5 18.3 36.3 Operating income (loss) $70.4 $(26.2) $13.7 $(70.2) $(12.3) ----- ------ ----- ------ ------ Other (expense) income: Interest expense $(165.0) Earnings (loss) from equity investments $3.2 $(8.7) $ - $ - (5.5) Other income, net 5.5 5.5 Total other expense, net $(165.0) ------- Net loss before income taxes $(177.3) Income tax benefit 66.5 ---- Net loss $(110.8) ------- Reconciliation of Net Loss to Attributable EBITDA ------------------------------------------------- Net loss $(110.8) Restructuring and other (3) $9.6 $6.9 $1.5 $18.3 36.3 Goodwill impairment - 69.0 - - 69.0 Depreciation, amortization and impairments 135.3 16.3 3.7 18.0 173.3 Other expense, net (4.0) (4.0) Interest expense 165.0 Income tax benefit (66.5) Stock-based compensation 1.7 1.3 0.8 8.0 11.8 EBITDA from equity investments (2) 2.1 11.8 - - 13.9 Earnings (loss) from equity investments (3.2) 8.7 - - 5.5 ---- --- --- --- --- Attributable EBITDA $219.1 $79.1 $19.7 $(24.4) $293.5 ====== ===== ===== ====== ====== Reconciliation to Attributable EBITDA margin --------------------------------------------- Attributable EBITDA $219.1 $79.1 $19.7 $(24.4) $293.5 Revenue $460.9 $199.7 $91.6 - $752.2 Attributable EBITDA margin 47.5% 39.6% 21.5% 39.0% ==== ==== ==== ==== (1) Exclusive of depreciation and amortization. (2) The Company received $11 million in cash distributions and return of capital payments from its equity investees. (3) Refer to AEBITDA definition for description of items included in this line.

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONSOLIDATED BUSINESS SEGMENT DATA RECONCILIATION OF NET LOSS TO ATTRIBUTABLE EBITDA (Unaudited, in millions) Twelve Months Ended December 31, 2016 ------------------------------------- Total Gaming Lottery Interactive Corporate Consolidated ------ ------- ----------- --------- ------------ Revenue: Services $921.8 $169.4 $332.8 $ - $1,424.0 Product sales 850.9 45.3 - - 896.2 Instant games - 563.2 - - 563.2 Total revenue $1,772.7 $777.9 $332.8 $ - $2,883.4 -------- ------ ------ --------------- -------- Operating expenses: Cost of services (1) $165.1 $109.9 $121.5 $ - $396.5 Cost of product sales (1) 390.6 34.0 - - 424.6 Cost of instant games (1) - 285.2 - - 285.2 Selling, general and administrative 248.0 70.2 118.0 140.8 577.0 Research and development 157.2 11.5 28.3 7.8 204.8 Depreciation, amortization and impairments 585.2 66.5 14.9 72.1 738.7 Goodwill impairment - 69.0 - - 69.0 Restructuring and other 14.6 8.7 1.6 32.1 57.0 Operating income (loss) $212.0 $122.9 $48.5 $(252.8) $130.6 ------ ------ ----- ------- ------ Other (expense) income: Interest expense $(661.4) Earnings from equity investments $4.7 $8.3 $ - $ - 13.0 Gain on early extinguishment of debt 25.2 25.2 Other income, net 13.9 13.9 Total other expense, net $(609.3) ------- Net loss before income taxes $(478.7) Income tax benefit 125.0 ----- Net loss $(353.7) ------- Reconciliation of Net Loss to Attributable EBITDA ------------------------------------------------- Net loss $(353.7) Restructuring and other (3)(4) $8.7 $8.7 $1.6 $35.8 54.8 Goodwill impairment 69.0 - 69.0 Depreciation, amortization and impairments 585.2 66.5 14.9 72.1 738.7 Other expense, net (8.9) (8.9) Interest expense 661.4 Income tax benefit (125.0) Stock-based compensation 7.4 4.1 1.9 21.9 35.3 Gain on early extinguishment of debt (25.2) (25.2) EBITDA from equity investments (2) 8.3 61.9 - - 70.2 Earnings from equity investments (4.7) (8.3) - - (13.0) ---- ---- --- --- ----- Attributable EBITDA $821.6 $333.1 $66.9 $(118.0) $1,103.6 ====== ====== ===== ======= ======== Reconciliation to Attributable EBITDA margin -------------------------------------------- Attributable EBITDA $821.6 $333.1 $66.9 $(118.0) $1,103.6 Revenue $1,772.7 $777.9 $332.8 - $2,883.4 Attributable EBITDA margin 46.3% 42.8% 20.1% 38.3% (1) Exclusive of depreciation and amortization (2) The Company received $51.7 million in cash distributions and return of capital payments from its equity investees (3) Includes $7.5 million of insurance proceeds related to a settlement of a legal matter (4) Refer to AEBITDA definition for description of items included in this line

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONSOLIDATED BUSINESS SEGMENT DATA RECONCILIATION OF NET LOSS TO ATTRIBUTABLE EBITDA (Unaudited, in millions) Three Months Ended December 31, 2015 ------------------------------------ Total Gaming Lottery Interactive Corporate Consolidated ------ ------- ----------- --------- ------------ Revenue: Services $233.7 $49.0 $60.3 $ - $343.0 Product sales 235.3 16.7 - - 252.0 Instant games - 142.0 - - 142.0 Total revenue $469.0 $207.7 $60.3 $ - $737.0 ------ ------ ----- --------------- ------ Operating expenses: Cost of services (1) $50.2 $26.7 $21.2 $ - $98.1 Cost of product sales (1) 101.4 10.9 - - 112.3 Cost of instant games (1) - 113.0 - - 113.0 Selling, general and administrative 69.4 17.8 19.4 37.5 144.1 Research and development 34.6 2.1 6.4 - 43.1 Depreciation and amortization 158.7 33.0 3.7 14.9 210.3 Goodwill impairment - 67.6 - - 67.6 Restructuring and other 1.1 - - 1.8 2.9 Operating income (loss) $53.6 $(63.4) $9.6 $(54.2) $(54.4) ----- ------ ---- ------ ------ Other (expense) income: Interest expense $(167.4) Earnings from equity investments $0.8 $6.7 $ - $ - 7.5 Other expense, net (4.2) (4.2) Total other expense, net $(164.1) ------- Net loss before income taxes $(218.5) Income tax benefit 91.0 Net loss $(127.5) ------- Reconciliation of Net Loss to Attributable EBITDA ------------------------------------------------- Net loss $(127.5) Restructuring and other (2)(3) $1.1 $ - $ - $1.8 2.9 M&A and other charges (incl. purchase accounting) (2) 2.0 - - - 2.0 Legal contingencies and settlements (2) 2.5 - - - 2.5 Other asset impairments - 35.5 - - 35.5 Goodwill impairment - 67.6 - - 67.6 Depreciation and amortization: Other long term asset impairments and write-downs (2) 14.4 11.9 - - 26.3 Other 144.3 21.1 3.7 14.9 184.0 Other expense, net 6.3 6.3 Interest expense 167.4 Income tax benefit (91.0) Stock-based compensation 1.8 1.0 0.2 2.9 5.9 EBITDA from equity investments (4) 1.6 16.9 - - 18.5 Earnings from equity investments (0.8) (6.7) - - (7.5) ---- ---- --- --- ---- Attributable EBITDA $221.3 $90.6 $13.5 $(32.5) $292.9 ====== ===== ===== ====== ====== Reconciliation to Attributable EBITDA margin -------------------------------------------- Attributable EBITDA $221.3 $90.6 $13.5 $(32.5) $292.9 Revenue $469.0 $207.7 $60.3 - $737.0 Attributable EBITDA margin 47.2% 43.6% 22.4% 39.7% ==== ==== ==== ==== (1) Exclusive of depreciation and amortization. (2) Total income tax benefit on these items is $13.0 million. (3) Refer to AEBITDA definition for description of items included in this line. (4) The Company received $5.6 million in cash distributions and return of capital payments from its equity investees.

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CONSOLIDATED BUSINESS SEGMENT DATA RECONCILIATION OF NET LOSS TO ATTRIBUTABLE EBITDA (Unaudited, in millions) Twelve Months Ended December 31, 2015 ------------------------------------- Total Gaming Lottery Interactive Corporate Consolidated ------ ------- ----------- --------- ------------ Revenue: Services $956.3 $185.5 $210.0 $ - $1,351.8 Product sales 817.3 45.7 - - 863.0 Instant games - 544.0 - - 544.0 Total revenue $1,773.6 $775.2 $210.0 $ - $2,758.8 -------- ------ ------ --------------- -------- Operating expenses: Cost of services (1) $190.1 $109.8 $72.8 $ - $372.7 Cost of product sales (1) 370.2 35.3 - - 405.5 Cost of instant games (1) - 325.9 - - 325.9 Selling, general and administrative 285.1 67.0 66.3 149.3 567.7 Research and development 154.9 6.3 22.7 - 183.9 Depreciation and amortization 728.6 95.9 19.6 59.1 903.2 Goodwill impairments 935.0 67.6 - - 1,002.6 Restructuring and other 11.2 0.2 1.5 9.0 21.9 Operating income (loss) $(901.5) $67.2 $27.1 $(217.4) $(1,024.6) ------- ----- ----- ------- --------- Other (expense) income: Interest expense $(664.9) Earnings from equity investments $3.5 $13.4 $ - $ - 16.9 Other expense, net (21.6) (21.6) Total other expense, net $(669.6) ------- Net loss before income taxes $(1,694.2) Income tax benefit 299.9 Net loss $(1,394.3) --------- Reconciliation of Net Loss to Attributable EBITDA ------------------------------------------------- Net loss $(1,394.3) Restructuring and other (2)(3) $11.2 $0.2 $1.5 $9.0 21.9 M&A and other charges (incl. purchase accounting) (2) 26.8 0.2 - 5.5 32.5 Legal contingencies and settlements (2) 2.5 - - - 2.5 Inventory write-down for discontinued product lines (2) 5.9 - - - 5.9 Other assets impairments - 35.5 - - 35.5 Goodwill impairments 935.0 67.6 - - 1,002.6 Depreciation and amortization: Other long term asset impairments and write-downs (2) 155.9 13.8 - - 169.7 Other 572.7 82.1 19.6 59.1 733.5 Other expense, net 27.9 27.9 Interest expense 664.9 Income tax benefit (299.9) Stock-based compensation 8.1 4.7 0.8 11.8 25.4 EBITDA from equity investments (4) 7.1 56.9 - - 64.0 Earnings from equity investments (3.5) (13.4) - - (16.9) ---- ----- --- --- ----- Attributable EBITDA $823.7 $328.2 $49.0 $(125.7) $1,075.2 ====== ====== ===== ======= ======== Reconciliation to Attributable EBITDA margin -------------------------------------------- Attributable EBITDA $823.7 $328.2 $49.0 $(125.7) $1,075.2 Revenue $1,773.6 $775.2 $210.0 - $2,758.8 Attributable EBITDA margin 46.4% 42.3% 23.3% 39.0% ==== ==== ==== ==== (1) Exclusive of depreciation and amortization. (2) Total income tax benefit on these items is $89.5 million. (3) Refer to AEBITDA definition for description of items included in this line. (4) The Company received $63.5 million in cash distributions and return of capital payments from its equity investees.

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES CALCULATION OF FREE CASH FLOW (Unaudited, in millions) Three Months Ended December 31, Twelve Months Ended December 31, ------------------------------- -------------------------------- 2016 2015 2016 2015 ---- ---- ---- ---- Net cash provided by operating activities $76.2 $158.7 $419.0 $414.2 Less: Capital expenditures (58.5) (90.0) (272.9) (323.6) Add: Distributions of capital on equity investments 1.3 1.7 25.3 38.7 Less: Additions to equity investments (1.2) (2.7) (1.2) (2.7) Less: Payments on license obligations (15.7) (8.5) (50.2) ` (40.5) Free cash flow $2.1 $59.2 $120.0 $86.1 ==== ===== ====== =====

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES RECONCILIATION OF EARNINGS (LOSS) FROM EQUITY INVESTMENT TO EBITDA FROM EQUITY INVESTMENTS (Unaudited, in millions) Three Months Ended December 31, Twelve Months Ended December 31, ------------------------------- -------------------------------- 2016 2015 2016 2015 ---- ---- ---- ---- EBITDA from equity investments (1): ----------------------------------- (Loss) earnings from equity investments (2) $(5.5) $7.5 $13.0 $16.9 Add: Income tax expense 1.1 3.1 8.3 8.4 Add: Depreciation and amortization 8.7 8.9 35.2 36.2 Add: Interest expense, net of other 9.6 (1.0) 13.7 2.5 EBITDA from equity investments $13.9 $18.5 $70.2 $64.0 ===== ===== ===== ===== (1) EBITDA from equity investments includes results from the Company's participation in LNS, RCN, ITL, CSG, Beijing Guard Libang Technology Co., Ltd., Northstar Illinois, Northstar New Jersey Lottery Group, LLC, and Hellenic Lotteries. (2) Includes $11.3 million impairment charge recorded during the fourth quarter of 2016.

    SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES SUPPLEMENTAL INFORMATION - SEGMENT KEY PERFORMANCE INDICATORS AND SUPPLEMENTAL REVENUE METRICS (Unaudited, in millions, except unit, per unit data and ARPDAU) The table below presents certain key performance indicators and supplemental revenue metrics. The information set forth in the table below should be read in conjunction with the historical financial statements of the Company that are included in the Company's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC. Three Months Ended ------------------ Dec 31, Dec 31, Sept 30, Gaming Revenue - Supplemental Revenue Metrics 2016 2015 2016 --------------------------------------------- ---- ---- ---- Revenue by Lines of Business: ----------------------------- Gaming operations revenue $172.6 $186.1 $186.0 Gaming machine sales revenue 169.5 174.1 154.4 Gaming systems revenue 63.9 68.6 59.5 Table products revenue 54.9 40.2 42.0 Gaming revenue $460.9 $469.0 $448.2 Gaming operations: ------------------ Wide-area progressive, premium and daily-fee participation revenue (1) $98.2 $107.7 $103.4 Other leased, participation and services revenue (2) 74.4 78.4 79.0 Gaming operations revenue $172.6 $186.1 $182.4 Gaming machine sales: --------------------- Gaming machine and other product sales revenue $169.5 $174.1 $159.8 Gaming systems: --------------- Hardware, software and services revenue $37.2 $42.5 $31.1 Maintenance revenue 26.7 26.1 26.5 Gaming systems revenue $63.9 $68.6 $57.6 Table products: --------------- Table products sales revenue $23.9 $11.0 $17.7 Leased table products revenue 31.0 29.2 30.7 Table products revenue $54.9 $40.2 $48.4 Gaming Revenue - Key Performance Indicators -------------------------------------------- Gaming Operations ----------------- Wide-area progressive, premium and daily-fee participation units (1): --------------------------------------------------------------------- Installed base at period end 21,465 22,252 21,663 Average daily revenue per unit $49.49 $52.46 $51.61 Other participation and leased units (2): ----------------------------------------- Installed base at period end 47,474 47,949 47,828 Average daily revenue per unit $14.52 $15.57 $15.31 Gaming Machine Sales -------------------- U.S. and Canadian new unit shipments 5,115 5,366 4,022 International new unit shipments 4,119 3,624 3,938 ----- ----- ----- New unit shipments 9,234 8,990 7,960 Average sales price per new unit $16,268 $17,137 $16,824 Lottery Revenue - Supplemental Revenue Metrics ---------------------------------------------- Lottery Revenue: Instant games revenue $140.5 $142.0 $137.7 Services revenue 41.9 49.0 38.3 Product sales revenue 17.3 16.7 10.6 Lottery revenue $199.7 $207.7 $186.6 Instant games revenue by geography: ----------------------------------- United States $88.7 $91.0 $94.8 International 51.8 51.0 42.9 Instant games revenue $140.5 $142.0 $137.7 Services revenue by geography: ------------------------------ United States $29.7 $30.4 $26.6 International 12.2 18.6 11.7 Services revenue $41.9 $49.0 $38.3 Product sales revenue by geography: ----------------------------------- United States $0.5 $1.3 $1.7 International 16.8 15.4 8.9 Product sales revenue $17.3 $16.7 $10.6 Lottery Revenue - Key Performance Indicators -------------------------------------------- Change in retail sales of U.S. lottery instant games customers (3)(4) 1.3% 9.2% 2.2% Change in retail sales of U.S. lottery systems contract customers (3)(5) 1.3% 1.9% 3.7% Change in Italy retail sales of instant games (3) -4.0% -1.5% -0.6% Interactive Revenue - Supplemental Revenue Metrics -------------------------------------------------- Revenue by Lines of Business: ----------------------------- Social gaming B2C $74.8 $49.2 $70.3 Other interactive B2B 16.8 11.1 14.9 Interactive revenue $91.6 $60.3 $85.2 Interactive Revenue - Key Performance Indicators ------------------------------------------------ Social gaming B2C: Average monthly active users (6) 7.7 8.1 8.0 Average daily active users (7) 2.4 2.3 2.5 Average daily revenue per daily active user (8) $0.34 $0.22 $0.31 Mobile penetration (9) 70% 66% 69% (1) Wide-area progressive, premium and daily-fee participation units comprise participation gaming machines, generally without fixed-term lease periods. (2) Other leased, participation and services units comprise server-based gaming machines, video lottery terminals, centrally determined gaming machines, electronic table seats, Class II and other leased units. (3) Information provided by third-party lottery operators. (4) U.S. instant games customers' retail sales include only sales of instant games. (5) U.S. lottery systems customers' retail sales primarily include sales of draw games, keno and instant games validated by the relevant system. (6) Monthly Active Users and is a count of unique visitors to our site during a month. (7) Daily Active Users and is a count of unique visitors to our site during a day. (8) Average daily revenue per DAU is calculated by dividing revenue by the DAU by the number of days in the period. (9) Mobile penetration = percentage of B2C social gaming revenue derived from mobile platforms.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/scientific-games-reports-fourth-quarter-and-full-year-2016-results-300417254.html

    Photo: http://mma.prnewswire.com/media/329306/sg_Logo.jpg Scientific Games Corporation

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




    LendingTree Names STEM Center USA as Winner of $50,000 Small Business Grant ContestLendingTree grants $50,000 to robotics education company, helping to fund future growth

    CHARLOTTE, N.C., March 2, 2017 /PRNewswire/ -- LendingTree, the nation's leading online loan marketplace, has named STEM Center USA the winner of its inaugural small business contest with a grant of $50,000.

    "We are incredibly honored to receive LendingTree's small business grant," said Lavanya Jawaharlal, president and co-founder of STEM Center USA and recent engineering graduate of the University of California, Berkeley. "With this money, we will be expanding our operations to a second Robotics Creativity Center to excite more students about STEM through hands-on learning."

    STEM Center USA, one of over 1,100 businesses that applied for LendingTree's grant, is a California-based robotics education company that aims to inspire the next generation of STEM (Science, Technology, Engineering, and Math) leaders through hands-on activities. Melissa and Lavanya Jawaharlal, the two sisters who founded STEM Center USA in 2011, believe that true learning takes place when a student is allowed to discover the underlying principles through an experiential learning model. STEM Center USA currently employs roughly 15 full and part-time employees at their Claremont, CA location.

    "These two young women are passionate entrepreneurs who envisioned a way for more children to learn about STEM, hoping to close the gender gap in the field and enrich the lives of children through innovation," said Doug Lebda, founder and CEO of LendingTree. "The LendingTree family supports this mission and is proud to contribute to STEM Center USA's growth."

    Marc Prosser, the co-founder of the small business information site, Fit Small Business, added, "Early life educational companies have two clients, the parents and the kids. STEM Center's courses on Robotics and 3D printing should make both clients happy." Mr. Prosser served as an expert contributor for LendingTree's small business grant contest.

    LendingTree launched its small business loan marketplace in 2014 to simplify the loan process and help small businesses gain access to credit and financing opportunities. To further its commitment of helping American business owners achieve growth, LendingTree launched the small business grant contest in November 2016 with the goal of awarding one deserving small business $50,000 to help fund future growth. After reading through over 1,100 entries, and with input from Marc Prosser of Fit Small Businesses, LendingTree employees voted on who they believed was most-deserving of the $50,000 grant. Businesses were judged on a variety of factors including historical performance, future growth plans, distinctiveness, community impact and the company's overall vision.

    To read more about STEM Center USA, please visit http://www.stemcenterusa.com/ or LendingTree's contest page, which can be found here: https://www.lendingtree.com/about/business-grant

    About LendingTree

    LendingTree is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 65 million loan requests. LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 400 lenders offering home loans, personal loans, credit cards, student loans, personal loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc.

    For more information go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

    MEDIA CONTACT:
    Megan Greuling
    704-943-8208
    Megan.Greuling@LendingTree.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lendingtree-names-stem-center-usa-as-winner-of-50000-small-business-grant-contest-300417191.html

    Photo: http://mma.prnewswire.com/media/341286/lendingtree_logo.jpg LendingTree

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




    Remark Media Appoints Daniel Stein to its Board of Directors

    LAS VEGAS, March 2, 2017 /PRNewswire/ -- Remark Media, Inc. , a global digital media technology company, appointed digital marketing executive Daniel Stein to its board of directors. Mr. Stein and Brett Ratner, who became a director on March 1(st), will replace Robert Goldstein and Jason Strauss, both of whom resigned from the board on March 1(st). Mr. Stein, who will stand for re-election at the 2017 annual meeting of stockholders, will participate on the Audit and Nominating & Governance Committees. The board membership is expected to stand constant at five.

    Kai-Shing Tao, Remark Media's Chairman and CEO, stated, "I am excited Daniel will join our leadership team. He brings significant experience in developing and deploying data analytics solutions. We believe his insights and expertise will be invaluable as we accelerate the introduction of solutions utilizing our KanKan Data Intelligence Platform."

    Daniel Stein
    Daniel Stein has worked in digital, direct, and healthcare marketing for more than 16 years. He currently serves as Senior Vice President, Analytics Services & Product Strategy at Crossix Solutions, Inc., a consumer-centric healthcare analytics company providing data analytics solutions for business and marketing optimization. At Crossix Solutions, Mr. Stein is responsible for driving innovation across the product suite, including digital and TV-based solutions. Previously, Mr. Stein spent eight years at Digitas and Digitas Health, where he led the Strategy and Analysis group in New York. While with Digitas Health, he built a team focused on leveraging analytics to help pharma and health-focused clients optimize their marketing plans and partnerships. Prior to Digitas and Digitas Health, Mr. Stein worked at Scholastic, where he developed interactive and direct marketing plans to support teachers and parents, and he gained additional healthcare experience at PricewaterhouseCoopers, where he designed and built comprehensive health & welfare systems for large companies.

    Mr. Stein graduated from the University of Pennsylvania with a B.A. in Economics.

    About Remark Media, Inc.
    Remark Media, Inc. owns, operates and acquires innovative digital media properties across multiple verticals that deliver culturally relevant, dynamic content that attracts and engages users on a global scale. The company leverages its unique digital media assets to target the Millennial demographic, which provides it with access to fast-growing, lucrative markets. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Hangzhou and Chengdu, China. For more information, please visit the company's website at www.remarkmedia.com.

    Forward-Looking Statements
    This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Media's Annual Report on Form 10-K and Remark Media's other filings with the SEC. Any forward-looking statements reflect Remark Media's current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Media's estimates and assumptions only as of the date hereof. Except as required by law, Remark Media undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

    Investor Contact:
    Douglas Osrow
    Remark Media, Inc.
    dosrow@remarkmedia.com
    702-701-9514 ext. 3025

    Investor Relations Contact:
    Becky Herrick/ Kirsten Chapman
    LHA Investor Relations
    remarkmedia@lhai.com
    415-433-3777

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/remark-media-appoints-daniel-stein-to-its-board-of-directors-300417280.html

    Photo: http://mma.prnewswire.com/media/220788/remark_logo.jpg Remark Media, Inc.

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




    Autodesk Reports Strong Fourth Quarter ResultsNew Model Subscription Additions Underscore Continued Progress on Business Model Transition

    SAN RAFAEL, Calif., March 2, 2017 /PRNewswire/ -- Autodesk, Inc. today reported financial results for the fourth quarter and full fiscal year ended January 31, 2017.

    Fourth Quarter Fiscal 2017

    --  New model subscriptions increased 227,000 from the third quarter of
    fiscal 2017 to 1.09 million.
    --  Total subscriptions increased by 154,000 from the third quarter of
    fiscal 2017 to 3.11 million at the end of the fourth quarter.
    --  New model annualized recurring revenue (ARR) was $529 million and
    increased 107 percent compared to the fourth quarter last year as
    reported and 109 percent on a constant currency basis.
    --  Total ARR was $1.60 billion, an increase of 16 percent compared to the
    fourth quarter last year as reported and 19 percent on a constant
    currency basis.
    --  Deferred revenue increased 18 percent to $1.79 billion, compared to
    $1.52 billion in the fourth quarter last year.
    --  Revenue was $479 million, a decrease of 26 percent compared to the
    fourth quarter last year as reported and 25 percent on a constant
    currency basis. During Autodesk's business model transition, revenue is
    negatively impacted as more revenue is recognized ratably rather than up
    front and as new offerings generally have a lower initial purchase
    price.
    --  Total GAAP spend (cost of revenue plus operating expenses) was $646
    million, a decrease of 2 percent compared to the fourth quarter last
    year.  GAAP spend includes a charge of $9 million for a previously
    announced restructuring and other facility exit costs.
    --  Total non-GAAP spend was $560 million, a decrease of 4 percent compared
    to the fourth quarter last year.  A reconciliation of GAAP to non-GAAP
    results is provided in the accompanying tables.
    --  GAAP diluted net loss per share was $(0.77). GAAP diluted net loss per
    share was $(0.17) in the fourth quarter last year.
    --  Non-GAAP diluted net loss per share was $(0.28), compared to $0.21 in
    the fourth quarter last year.
    

    "Autodesk's market-leading products are revolutionizing how customers design, engineer and make anything," said Amar Hanspal, Autodesk co-CEO and chief product officer. "We finished the fiscal year on a high note with triple-digit year-over-year growth in new model subscriptions and new model ARR, which demonstrates our customers' readiness to adopt our new offerings. We're particularly pleased with the success of cloud subscriptions where our best-in-class BIM 360 and Fusion offerings drove more than a 150 percent increase year-over-year and represent Autodesk's increasing footprint in construction and manufacturing."

    "We made exceptional progress on our business model transition in fiscal 2017 as we successfully navigated the move to subscription-only sales," said Andrew Anagnost, Autodesk co-CEO and chief marketing officer. "We're well positioned for the next phase of the transition where we'll offer our maintenance customers an easy and cost effective path to move to product subscription."

    "Record new model subscription additions and continued cost control contributed to our strong fourth quarter results," said Scott Herren, Autodesk chief financial officer. "We have invested in critical areas to fuel the transition and the long-term health of our business, while simultaneously reducing non-GAAP spend by three percent for the fiscal year. We're starting fiscal 2018 from a position of strength, which gives us added confidence in our ability to achieve our long-term targets and drive long-term value creation for Autodesk shareholders."

    Fourth Quarter Operational Overview

    New model subscriptions (product, enterprise flexible license, and cloud subscription) were 1.09 million, a net increase of 227,000 from the third quarter of fiscal 2017. The increase in new model subscriptions was led by product subscriptions. Maintenance subscriptions were 2.02 million, a net decrease of 73,000 from the third quarter of fiscal 2017. Total subscriptions were 3.11 million, a net increase of 154,000 from the third quarter of fiscal 2017.

    New model ARR was $529 million and increased 107 percent compared to the fourth quarter last year as reported and 109 percent on a constant currency basis. Maintenance ARR was $1.07 billion and decreased 4 percent compared to the fourth quarter last year as reported and 2 percent on a constant currency basis. Total ARR for the fourth quarter increased 16 percent to $1.60 billion compared to the fourth quarter last year as reported and 19 percent on a constant currency basis. Similar to last quarter, fourth quarter total ARR growth was impacted by the allocation of existing marketing development funds (MDF). MDF is recorded as contra revenue and historically was predominantly allocated against license revenue. With the end of sale of perpetual licenses, MDF is now allocated against recurring revenue, negatively impacting new model ARR growth by 6 percentage points, maintenance ARR growth by 2 percentage points, and total ARR growth by 3 percentage points.

    Total recurring revenue in the fourth quarter was 84 percent of total revenue compared to 53 percent in the fourth quarter last year.

    As a reminder, during the business model transition, revenue is negatively impacted as more revenue is recognized ratably rather than up front and as new product offerings generally have a lower initial purchase price. As part of the business model transition, Autodesk discontinued new perpetual license sales for most individual products at the end of the fourth quarter of fiscal 2016 and for suites at the end of the second quarter of fiscal 2017.

    Revenue in the Americas was $211 million, a decrease of 18 percent compared to the fourth quarter last year. EMEA revenue was $186 million, a decrease of 22 percent compared to the fourth quarter last year as reported and 18 percent on a constant currency basis. Revenue in APAC was $82 million, a decrease of 46 percent compared to the fourth quarter last year as reported and 47 percent on a constant currency basis.

    Financial Highlights for Fiscal 2017*

    --  Net subscription additions of 530,000.  Total subscriptions increased 21
    percent to 3.11 million.
    --  New model subscriptions increased 155 percent to 1.09 million.
    --  New model ARR increased 107 percent as reported and 109 percent on a
    constant currency basis.
    --  Total ARR increased 16 percent as reported and 19 percent on a constant
    currency basis.
    --  Total GAAP spend increased 1 percent.  Total non-GAAP spend decreased 3
    percent.
    --  Total deferred revenue increased 18 percent to $1.79 billion.
    

    *All numbers are compared to fiscal 2016.

    Business Outlook

    The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the first quarter and full year fiscal 2018 assumes, among other things, a continuation of the current economic environment and foreign exchange currency rate environment. A reconciliation between the GAAP and non-GAAP estimates is provided below or in the tables following this press release.

    First Quarter Fiscal 2018

    Q1 FY18 Guidance Metrics Q1 FY18 (ending April 30, 2017) Revenue (in millions) $460 - $480 EPS GAAP ($0.82) - ($0.72) EPS Non-GAAP (1) ($0.27) - ($0.21)

    _______________ (1) Non-GAAP earnings per diluted share exclude $0.28 related to stock-based compensation expense, between $0.18 and $0.14 related to GAAP-only tax charges, $0.05 related to CEO transition costs and $0.04 for the amortization of acquisition related intangibles.

    Full Year Fiscal 2018

    FY18 Guidance Metrics FY18 (ending January 31, 2018) Revenue (in millions) (1) $2,000 - $2,050 GAAP Spend (cost of revenue plus operating expenses) Approx. (2%) Non-GAAP Spend (cost of revenue plus operating expenses) (2) Approx. flat EPS GAAP ($2.65) - ($2.40) EPS Non-GAAP (3) ($0.73) - ($0.56) Net Subscription Additions 600,000 - 650,000 Total ARR 24% - 26%

    _______________ (1) Excluding the impact of foreign currency rates and hedge gains/losses revenue guidance would be $2.010 -$2.060 billion. (2) Non-GAAP spend excludes $257 million related to stock-based compensation expense, $37 million for the amortization of acquisition-related intangibles, and $13 million related to CEO transition costs. (3) Non-GAAP earnings per diluted share excludes $1.18 related to stock-based compensation expense, between $0.51 and $0.43 of GAAP-only tax charges, $0.17 for the amortization of acquisition-related intangibles, and $0.06 related to CEO transition costs.

    The first quarter and full year fiscal 2018 outlook assume a projected annual effective tax rate of (11) percent and 26 percent for GAAP and non-GAAP results, respectively. Assumptions for the annual effective tax rate are regularly evaluated and may change based on the projected geographic mix of earnings. At this stage of the business model transition, small shifts in geographic profitability significantly impact the effective tax rate.

    Earnings Conference Call and Webcast

    Autodesk will host its fourth quarter conference call today at 5:00 p.m. ET. The live broadcast can be accessed at http://www.autodesk.com/investor. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesk's website simultaneously with this press release.

    A replay of the broadcast will be available at 7:00 pm ET at http://www.autodesk.com/investor. This replay will be maintained on Autodesk's website for at least 12 months.

    Glossary of Terms

    Annualized Recurring Revenue (ARR): Represents the annualized value of our average monthly recurring revenue for the preceding three months. "Maintenance ARR" captures ARR relating to traditional maintenance attached to perpetual licenses. "New Model ARR" captures ARR relating to new model subscription offerings. Recurring revenue acquired with the acquisition of a business may cause variability in the comparison of this calculation.

    ARR is currently one of our key performance metrics to assess the health and trajectory of our business. ARR should be viewed independently of revenue and deferred revenue as ARR is a performance metric and is not intended to be combined with any of these items.

    Cloud Service Offerings: Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering.

    Constant Currency (CC) Growth Rates: We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods.

    Flexible Enterprise Business Agreements (EBA): Represents programs providing enterprise customers with token-based access or a fixed maximum number of seats to a broad pool of Autodesk products over a defined contract term.

    License and Other Revenue: License and other revenue consists of two components: (1) all forms of product license revenue and (2) other revenue. Product license revenue includes software license revenue from the sale of perpetual licenses, term-based licenses from our product subscriptions and flexible enterprise business agreements, and product revenue for Creative Finishing. Other revenue includes revenue from consulting, training, Autodesk Developers Network and Creative Finishing customer support, and is recognized over time, as the services are performed.

    Maintenance Plan: Our maintenance plan provides our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plan, customers are eligible to receive unspecified upgrades when and if available, and online support. We recognize maintenance plan revenue over the term of the agreements, generally between one and three years.

    New Model Subscription Offerings (New Model): Comprises our term-based product subscriptions (formerly titled Desktop subscription), cloud service offerings, and flexible enterprise business agreements.

    Recurring Revenue: Represents the revenue for the period from our maintenance plans and revenue from our new model subscription offerings, including portions of revenue allocated to license and other revenue for those offerings. It excludes subscription revenue related to education offerings, consumer product offerings, select Creative Finishing product offerings, Autodesk Buzzsaw, Autodesk Constructware, and third party products. Recurring revenue acquired with the acquisition of a business is reported when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation.

    Subscription Revenue: Autodesk subscription revenue consists of three components: (1) maintenance plan revenue from our perpetual software products; (2) maintenance revenue from our term-based product subscriptions and flexible enterprise business agreements; and (3) revenue from our cloud service offerings.

    Total Subscriptions: Consists of subscriptions from our maintenance plans and new model subscription offerings that are active and paid as of the quarter end date. For certain cloud service offerings and flexible enterprise business agreements, subscriptions represent the monthly average activity reported within the last three months of the quarter end date. Total subscriptions do not include education offerings, consumer product offerings, select Creative Finishing product offerings, Autodesk Buzzsaw, Autodesk Constructware, and third party products. Subscriptions acquired with the acquisition of a business are captured once the data conforms to our subscription count methodology and when added, may cause variability in the comparison of this calculation.

    Safe Harbor Statement

    This press release contains forward-looking statements that involve risks and uncertainties, including statements in the paragraphs under "Business Outlook" above, other statements about our short-term and long-term goals, statements regarding the impacts and results of our business model transition, expectations for subscriptions, ARR and our customer transitions from maintenance to product subscriptions, acceptance by our customers and partners of subscriptions, and other statements regarding our strategies, market and product positions, performance and results. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: failure to achieve our revenue and profitability objectives; failure to successfully manage transitions to new business models and markets and to attract customers to our cloud-based offerings; expenses related to the transition of our business model; difficulty in predicting revenue from new businesses and the potential impact on our financial results from changes in our business models; general market, political, economic and business conditions; any imposition of new tariffs or trade barriers; the impact of non-cash charges on our financial results; fluctuation in foreign currency exchange rates; the success of our foreign currency hedging program; failure to control our expenses; our performance in particular geographies, including emerging economies; the ability of governments around the world to meet their financial and debt obligations, and finance infrastructure projects; weak or negative growth in the industries we serve; slowing momentum in subscription billings or revenues; difficulties encountered in integrating new or acquired businesses and technologies; the inability to identify and realize the anticipated benefits of acquisitions; the financial and business condition of our reseller and distribution channels; dependence on and the timing of large transactions; failure to achieve sufficient sell-through in our channels for new or existing products; pricing pressure; unexpected fluctuations in our tax rate; the timing and degree of expected investments in growth and efficiency opportunities; changes in the timing of product releases and retirements; and any unanticipated accounting charges.

    Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2016, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    About Autodesk

    Autodesk makes software for people who make things. If you've ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you've experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.

    Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are registered trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

    (C) 2017 Autodesk, Inc. All rights reserved.

    Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended January 31, Fiscal Year Ended January 31, 2017 2016 2017 2016 ---- ---- ---- ---- (Unaudited) Net revenue: Subscription $322.5 $319.5 $1,290.0 $1,277.2 License and other 156.3 328.8 741.0 1,226.9 ----- ----- ----- ------- Total net revenue 478.8 648.3 2,031.0 2,504.1 ----- ----- ------- ------- Cost of revenue: Cost of subscription revenue 38.2 39.4 151.3 156.1 Cost of license and other revenue 44.7 55.5 190.6 214.6 ---- ---- ----- ----- Total cost of revenue 82.9 94.9 341.9 370.7 ---- ---- ----- ----- Gross profit 395.9 553.4 1,689.1 2,133.4 Operating expenses: Marketing and sales 283.6 277.4 1,022.5 1,015.5 Research and development 187.0 204.5 766.1 790.0 General and administrative 74.1 73.2 287.8 293.4 Amortization of purchased intangibles 9.3 8.0 31.8 33.2 Restructuring charges and other facility exit costs, net 9.0 - 80.5 - --- --- ---- --- Total operating expenses 563.0 563.1 2,188.7 2,132.1 ----- ----- ------- ------- (Loss) income from operations (167.1) (9.7) (499.6) 1.3 Interest and other expense, net (1.1) (10.8) (24.2) (21.6) ---- ----- ----- ----- Loss before income taxes (168.2) (20.5) (523.8) (20.3) Provision for income taxes (2.3) (16.7) (55.4) (310.2) ---- ----- ----- ------ Net loss $(170.5) $(37.2) $(579.2) $(330.5) ======= ====== ======= ======= Basic net loss per share $(0.77) $(0.17) $(2.60) $(1.46) ====== ====== ====== ====== Diluted net loss per share $(0.77) $(0.17) $(2.60) $(1.46) ====== ====== ====== ====== Weighted average shares used in computing basic net loss per share 221.1 224.7 222.7 226.0 ===== ===== ===== ===== Weighted average shares used in computing diluted net loss per share 221.1 224.7 222.7 226.0 ===== ===== ===== =====

    _____________________ (1) As Autodesk elected to early adopt ASU 2016-09 in the second quarter of fiscal 2017, we are required to reflect any adjustments as of February 1, 2016, the beginning of the annual period that includes the interim period of adoption. As a result of recording forfeitures as they occur, our stock based compensation expense decreased by $5.3 million for the three months ended April 30, 2016. Incorporating these non-cash, GAAP only, revisions results in a GAAP net loss of $167.7 million, and a GAAP diluted net loss per share of $0.75 for the three months ended April 30, 2016, which is reflected in the results for the year ended ended January 31, 2017 above.

    Autodesk, Inc. Condensed Consolidated Balance Sheets (In millions) January 31, 2017 January 31, 2016 ---------------- ---------------- (Unaudited) ASSETS Current assets: Cash and cash equivalents $1,213.1 $1,353.0 Marketable securities 686.8 897.9 Accounts receivable, net 452.3 653.6 Deferred income taxes, net - - Prepaid expenses and other current assets 109.6 88.6 ----- ---- Total current assets 2,461.8 2,993.1 ------- ------- Marketable securities 306.2 532.3 Computer equipment, software, furniture and leasehold improvements, net 158.6 169.3 Developed technologies, net 45.7 70.8 Goodwill 1,561.1 1,535.0 Deferred income taxes, net 62.4 9.2 Other assets 202.0 205.6 ----- ----- Total assets $4,797.8 $5,515.3 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $93.5 $119.9 Accrued compensation 238.2 243.3 Accrued income taxes 46.8 29.4 Deferred revenue 1,282.8 1,068.9 Short term debt 398.7 - Other accrued liabilities 134.9 129.5 ----- ----- Total current liabilities 2,194.9 1,591.0 ------- ------- Deferred revenue 505.2 450.3 Long term income taxes payable 39.3 161.4 Long term deferred income taxes 91.5 67.7 Long term notes payable, net 1,092.0 1,487.7 Other liabilities 138.4 137.6 Stockholders' equity: Preferred stock - - Common stock and additional paid-in capital 1,876.3 1,821.5 Accumulated other comprehensive loss (178.5) (121.1) Accumulated deficit (961.3) (80.8) ------ ----- Total stockholders' equity 736.5 1,619.6 ----- ------- Total liabilities and stockholders' equity $4,797.8 $5,515.3 ======== ========

    Autodesk, Inc. Condensed Consolidated Statements of Cash Flows (In millions) Fiscal Year Ended January 31, 2017 2016 ---- ---- (Unaudited) Operating activities: Net loss $(579.2) $(330.5) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation, amortization and accretion 139.2 145.8 Stock-based compensation expense 221.8 197.2 Deferred income taxes (37.3) 235.9 Restructuring charges and other facility exit costs, net 80.5 - Other operating activities (7.7) (25.0) Changes in operating assets and liabilities, net of business combinations: Accounts receivable 201.5 (195.5) Prepaid expenses and other current assets (14.7) (2.8) Accounts payable and accrued liabilities 2.7 24.9 Deferred revenue 267.0 360.5 Accrued income taxes (104.1) 3.5 Net cash provided by operating activities 169.7 414.0 ----- ----- Investing activities: Purchases of marketable securities (1,867.9) (2,250.1) Sales of marketable securities 1,257.7 329.4 Maturities of marketable securities 1,057.2 1,376.6 Capital expenditures (76.0) (72.4) Acquisitions, net of cash acquired (85.2) (148.5) Other investing activities (13.8) (44.5) ----- ----- Net cash provided by (used in) investing activities 272.0 (809.5) ----- ------ Financing activities: Proceeds from issuance of common stock, net of issuance costs 119.6 110.8 Taxes paid related to net share settlement of equity awards (76.2) (51.6) Repurchase and retirement of common stock (621.7) (458.0) Proceeds from debt, net of discount - 748.3 Other financing activities - (6.3) --- ---- Net cash (used in) provided by financing activities (578.3) 343.2 ------ ----- Effect of exchange rate changes on cash and cash equivalents (3.3) (5.3) ---- ---- Net decrease in cash and cash equivalents (139.9) (57.6) Cash and cash equivalents at beginning of fiscal year 1,353.0 1,410.6 ------- ------- Cash and cash equivalents at end of the period $1,213.1 $1,353.0 ======== ========

    Autodesk, Inc.
    Reconciliation of GAAP financial measures to non-GAAP financial measures
    (In millions, except per share data)

    To supplement our consolidated financial statements presented on a GAAP basis, Autodesk provides investors with certain non-GAAP measures including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share. These non-GAAP financial measures are adjusted to exclude certain costs, expenses, gains and losses, including stock-based compensation expense, restructuring charges and other facility exit costs, amortization of amortization of developed technology, amortization of purchased intangibles, gain and loss on strategic investments, and related income tax expenses. We believe these exclusions are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future, as well as to facilitate comparisons with our historical operating results. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of Autodesk's underlying operational results and trends and our marketplace performance. For example, non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside our core operating results. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for our planning and forecasting of future periods.

    There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.

    The following table shows Autodesk's non-GAAP results reconciled to GAAP results included in this release.

    Three Months Ended January 31, Fiscal Year Ended January 31, 2017 2016 2017 2016 ---- ---- ---- ---- (Unaudited) (Unaudited) GAAP cost of subscription revenue $38.2 $39.4 $151.3 $156.1 Stock-based compensation expense (1.8) (1.6) (7.0) (5.7) Amortization of developed technology (0.1) (0.5) (0.7) (2.9) Non-GAAP cost of subscription revenue $36.3 $37.3 $143.6 $147.5 ===== ===== ====== ====== GAAP cost of license and other revenue $44.7 $55.5 $190.6 $214.6 Stock-based compensation expense (2.0) (1.7) (7.1) (6.1) Amortization of developed technology (7.9) (11.4) (39.3) (46.1) ---- ----- ----- ----- Non-GAAP cost of license and other revenue $34.8 $42.4 $144.2 $162.4 ===== ===== ====== ====== GAAP gross profit $395.9 $553.4 $1,689.1 $2,133.4 Stock-based compensation expense 3.8 3.3 14.1 11.8 Amortization of developed technology 8.0 11.9 40.0 49.0 --- ---- ---- ---- Non-GAAP gross profit $407.7 $568.6 $1,743.2 $2,194.2 ====== ====== ======== ======== GAAP marketing and sales $283.6 $277.4 $1,022.5 $1,015.5 Stock-based compensation expense (25.1) (24.0) (94.1) (85.2) Non-GAAP marketing and sales $258.5 $253.4 $928.4 $930.3 ====== ====== ====== ====== GAAP research and development $187.0 $204.5 $766.1 $790.0 Stock-based compensation expense (21.3) (20.5) (81.3) (70.4) Non-GAAP research and development $165.7 $184.0 $684.8 $719.6 ====== ====== ====== ====== GAAP general and administrative $74.1 $73.2 $287.8 $293.4 Stock-based compensation expense (9.1) (8.3) (32.3) (29.8) Non-GAAP general and administrative $65.0 $64.9 $255.5 $263.6 ===== ===== ====== ====== GAAP amortization of purchased intangibles $9.3 $8.0 $31.8 $33.2 Amortization of purchased intangibles (9.3) (8.0) (31.8) (33.2) ---- ---- ----- ----- Non-GAAP Amortization of purchased intangibles $ - $ - $ - $ - === === === === === === === === GAAP restructuring charges and other facility exit costs, net $9.0 $ - $80.5 $ - Restructuring charges and other facility exit costs, net (9.0) - (80.5) - ----- Non-GAAP restructuring charges and other facility exit costs, net $ - $ - $ - $ - === === === === === === === === GAAP operating expenses $563.0 $563.1 $2,188.7 $2,132.1 Stock-based compensation expense (55.5) (52.8) (207.7) (185.4) Amortization of purchased intangibles (9.3) (8.0) (31.8) (33.2) Restructuring charges and other facility exit costs, net (9.0) - (80.5) - Non-GAAP operating expenses $489.2 $502.3 $1,868.7 $1,913.5 ====== ====== ======== ======== GAAP Spend $645.9 $658.0 $2,530.6 $2,502.8 Stock-based compensation expense (59.3) (56.1) (221.8) (197.2) Amortization of developed technology (8.0) (11.9) (40.0) (49.0) Amortization of purchased intangibles (9.3) (8.0) (31.8) (33.2) Restructuring charges and other facility exit costs, net (9.0) - (80.5) - Non-GAAP Spend $560.3 $582.0 $2,156.5 $2,223.4 ====== ====== ======== ======== GAAP (loss) income from operations $(167.1) $(9.7) $(499.6) $1.3 Stock-based compensation expense 59.3 56.1 221.8 197.2 Amortization of developed technology 8.0 11.9 40.0 49.0 Amortization of purchased intangibles 9.3 8.0 31.8 33.2 Restructuring charges and other facility exit costs, net 9.0 - 80.5 - --- --- ---- --- Non-GAAP (loss) income from operations $(81.5) $66.3 $(125.5) $280.7 ====== ===== ======= ====== GAAP interest and other expense, net $(1.1) $(10.8) $(24.2) $(21.6) Loss (gain) on strategic investments 0.3 (0.4) (0.3) (3.7) --- ---- ---- ---- Non-GAAP interest and other expense, net $(0.8) $(11.2) $(24.5) $(25.3) ===== ====== ====== ====== GAAP provision for income taxes $(2.3) $(16.7) $(55.4) $(310.2) Discrete GAAP tax provision items (6.7) (1.6) (2.7) 0.8 Establishment of valuation allowance on deferred tax assets - - - 230.9 Income tax effect of non-GAAP adjustments 30.4 11.1 97.1 17.2 ---- ---- ---- ---- Non-GAAP provision for income tax $21.4 $(7.2) $39.0 $(61.3) ===== ===== ===== ====== GAAP net loss $(170.5) $(37.2) $(579.2) $(330.5) Stock-based compensation expense 59.3 56.1 221.8 197.2 Amortization of developed technology 8.0 11.9 40.0 49.0 Amortization of purchased intangibles 9.3 8.0 31.8 33.2 Restructuring charges and other facility exit costs, net 9.0 - 80.5 - Loss (gain) on strategic investments 0.3 (0.4) (0.3) (3.7) Discrete GAAP tax provision items (6.7) (1.6) (2.7) 0.8 Establishment of valuation allowance on deferred tax assets - - - 230.9 Income tax effect of non-GAAP adjustments 30.4 11.1 97.1 17.2 ---- ---- ---- ---- Non-GAAP net (loss) income $(60.9) $47.9 $(111.0) $194.1 ====== ===== ======= ====== GAAP diluted net loss per share $(0.77) $(0.17) $(2.60) $(1.46) Stock-based compensation expense 0.28 0.25 1.00 0.86 Amortization of developed technology 0.03 0.05 0.18 0.21 Amortization of purchased intangibles 0.04 0.04 0.14 0.15 Restructuring charges and other facility exit costs, net 0.04 - 0.35 - Loss (gain) on strategic investments - - - (0.01) Discrete GAAP tax provision items (0.04) (0.01) (0.01) - Establishment of valuation allowance on deferred tax assets - - - 1.01 Income tax effect of non-GAAP adjustments 0.14 0.05 0.44 0.08 ---- ---- ---- ---- Non-GAAP diluted net (loss) income per share $(0.28) $0.21 $(0.50) $0.84 ====== ===== ====== ===== GAAP diluted weighted average shares used in per share calculation 221.1 224.7 222.7 226.0 Shares included in non-GAAP net income per share, but excluded from GAAP net loss per share as they would have been anti-dilutive - 4.4 - 4.7 Non-GAAP diluted weighted average shares used in per share calculation 221.1 229.1 222.7 230.7 ===== ===== ===== =====

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/autodesk-reports-strong-fourth-quarter-results-300417200.html

    Photo: http://mma.prnewswire.com/media/462390/Autodesk_Inc___Logo.jpg Autodesk, Inc.

    CONTACT: Investors: David Gennarelli, 415-507-6033,
    david.gennarelli@autodesk.com or Press: Stacy Doyle, 503-707-3861,
    stacy.doyle@autodesk.com

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




    Synopsys Named a Leader in the Gartner Magic Quadrant for Application Security TestingCompany Makes Significant Move to the Leaders Quadrant and Is Recognized for Completeness of Vision and Ability to Execute

    MOUNTAIN VIEW, Calif., March 2, 2017 /PRNewswire/ -- Synopsys, Inc. , today announced it was named to the "Leaders" quadrant of the Gartner's 2017 Magic Quadrant for Application Security Testing (AST). The company is being recognized for its vision and ability to execute. Synopsys provides a comprehensive software security and quality platform, and enables organizations to address critical challenges in the evolving landscape of software security. The report evaluated 18 software vendors on 15 criteria. Detailed information about Synopsys and its position in the Gartner AST Magic Quadrant can be viewed here.

    "Our strategic investments have resulted in a comprehensive portfolio of solutions and services that enable organizations from a variety of industries and stages of maturity to build security into the software development lifecycle and across the cyber supply chain, addressing today's most pressing challenges in cybersecurity," said Andreas Kuehlmann, senior vice president and general manager for the Synopsys Software Integrity Group. "We believe being recognized as an industry leader by Gartner validates our strategy and customer offerings in the application security space."

    According to Gartner, "Security testing is growing faster than any other security market, as AST solutions adapt to new development methodologies and increased application complexity. Security and risk management leaders must integrate AST in their application security programs*."

    Synopsys' comprehensive software security and quality platform grants customers access to some of the most in-depth tools and experienced professionals available to provide insights, guidance and a roadmap for their application security challenges. Synopsys' platform includes static code analysis, intelligent fuzz testing, software composition analysis, interactive application security testing (IAST), automated test optimization, and actionable threat intelligence.

    The recent acquisitions of Cigital and Codiscope add a broad spectrum of industry-leading professional and managed services for addressing software security. These include dynamic application security testing (DAST) and static application security testing (SAST) for identifying, remediating and preventing vulnerabilities in software. More details about Synopsys' software security and quality platform can be found here.

    *Gartner "Magic Quadrant for Application Security Testing (AST)" by Dionisio Zumerle and Ayal Tirosh, February 28, 2017.

    About the Magic Quadrant

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

    About the Synopsys Software Integrity Platform

    Through its Software Integrity Platform, Synopsys provides advanced solutions and services for improving software security and quality. This comprehensive platform of automated analysis and testing technologies integrates seamlessly into the software development process and enables organizations to detect and remediate quality defects, security vulnerabilities and compliance issues early in the software development lifecycle, as well as to gain security assurance and visibility into their software supply chain.

    About Synopsys

    Synopsys, Inc. is the Silicon to Software(TM) partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.

    Editorial Contacts:
    Simone Souza
    Synopsys, Inc.
    650-584-6454
    simone@synopsys.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/synopsys-named-a-leader-in-the-gartner-magic-quadrant-for-application-security-testing-300417258.html

    Photo: http://mma.prnewswire.com/media/348205/snps_logo_sts_purple_grey_Logo.jpg Synopsys, Inc.

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

    Company News On-Call: http://www.prnewswire.com/comp/AAB595.html




    DATATRAK International, Inc. Reports Fourth Quarter and Full Year Results for 2016

    CLEVELAND, March 2, 2017 /PRNewswire/ - DATATRAK International, Inc. , a leader in cloud-based technologies for the life sciences industry, today announced its operating results for the fourth quarter and full year 2016.

    The full year highlights included net income from operations of $1,083,000 compared to a net loss from operations of $(2,883,000) in 2015 and 96% of all contracts signed in 2016 contained multiple products; 100% of contracts signed in Q4 2016 contained multiple products. Another highlight from 2016 was the release of our CTMS product.

    "We are excited about our recent CTMS release and very proud of it for good reason," said Jim Bob Ward, CEO. "We designed our CTMS product from the user's perspective, with input from our clients. We used their input to design a world class SaaS product that works with all EDC products with infinite scalability and low cost of ownership."

    Scott DeMell, Vice President of Sales, added, "Feedback continues to come in and it is universally positive, across all size companies. They love the ease of implementation, which can be done in days, not weeks or months. The Regulatory Manager, which is the first of its kind, is also a big hit. This feature provides a highly functional framework to track and manage submissions & requirement sets, but can also track any type of study supporting documentation as well. Another feature that gets a lot of buzz is the monitoring report. Clients love the fact that the monitoring reports are so easy to configure and are reusable, requiring no developer support. This solves a big problem in many current CTMS offerings for one of the more time consuming process in the study workflow."

    Financial Highlights:

    The Company's revenue decreased $977,000, from $9,960,000 for the year ended December 31, 2015 to $8,983,000 for the year ended December 31, 2016. The revenue decline was mainly due to revenue from new contract sales but the Company also saw a decrease in revenue from contracts in backlog due to lower change orders and contract expansions. Direct costs decreased by 23% during this same time period due to lower employee costs. The Company's gross margin was 82% for the year ended December 31, 2016 compared to 79% for the year ended December 31, 2015. SG&A expenses decreased by $4,532,000, or 43%, for the year ended December 31, 2016 compared to the year ended December 31, 2015. The decrease was primarily due to lower employee costs, including travel, and legal costs. The year ended December 31, 2015 included substantial expenses related to the patent defense litigation, which was settled in early 2016. The Company also cut spending for advertising, equipment and office rent. The decrease in office rent was due to the sublease of the Chicago office and the assignment of the North Carolina office. As a result, DATATRAK had income from operations for the year ended December 31, 2016 of $1,083,000 compared to a loss from operations of $(2,883,000) for the year ended December 31, 2015.

    DATATRAK's backlog at December 31, 2016 was $22.2 million compared to a backlog of $26.7 million at December 31, 2015, which is a 17% decrease. Backlog consists of future value from authorization letters to commence services, statements of work, technology and services agreements, change orders and other customer contracts, billed and unbilled.

    All contracts are subject to possible delays or cancellation or can change in scope in a positive or negative direction. Therefore, current backlog is not necessarily indicative of the Company's future quarterly or annual revenue. Historically, backlog has not always been an accurate predictor of the Company's short-term revenue.

    Join DATATRAK Thought Leaders:

    --  Twitter
    --  LinkedIn
    --  SlideShare
    --  The DATATRAK Blog
    

    Tweet: DATATRAK Reports Fourth Quarter and Full Year Results for 2016 http://bit.ly/2lJMQtE

    About DATATRAK International, Inc.
    DATATRAK International is a worldwide technology and services company delivering unified eClinical solutions and related services for the clinical trials industry. DATATRAK built its multi-component, comprehensive solution on a single, unified platform and expanded this concept to include services delivery via DATATRAK's Clinical and Consulting Services group. The Company delivers a complete portfolio of software products designed to accelerate the reporting of clinical research data from sites to sponsors and ultimately regulatory authorities, faster and more efficiently than loosely integrated technologies. The DATATRAK ONE((R)) software solution, deployed worldwide through an ASP or Enterprise Transfer offering, supports Preclinical and Phase I - Phase IV drug and device studies in multiple languages throughout the world. DATATRAK is located in Cleveland, Ohio and College Station, Texas. For more information, visit http://www.datatrak.com.

    Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management's expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors which are difficult to predict and, in many instances, are beyond the control of the Company, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. All statements that address operating performance, events or developments that management anticipates will occur in the future, including statements related to future revenue, profits, expenses, cost reductions, cash management alternatives and working capital requirements, strategic alternatives, raising additional funds, income and earnings per share or statements expressing general opinion about future results, are forward-looking statements. For a list of certain factors that may cause actual results to differ materially from those contemplated in these forward looking statements, please see the Company's report filed with the OTC Markets on April 8, 2016 announcing its results for the full-year period ended December 31, 2015. The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.

    DATATRAK International, Inc. and Subsidiaries Condensed Consolidated Balance Sheet Data (Unaudited) December 31, 2016 December 31, 2015 ----------------- ----------------- Cash and cash equivalents $2,465,721 $1,354,857 Certificate of deposit 301,316 300,724 Accounts receivable, net 682,252 895,723 Property & equipment, net 1,598,541 920,118 Other 194,996 360,146 ------- ------- Total assets $5,242,826 $3,831,568 ========== ========== Accounts payable and other current liabilities $2,002,153 $1,794,170 Deferred revenue 5,072,352 6,177,423 Other long-term liabilities 164,102 37,647 Shareholders' deficit (1,995,781) (4,177,672) ---------- ---------- Total liabilities and shareholders' deficit $5,242.826 $3,831.568 ========== ==========

    DATATRAK International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) For the 3 Months Ended December 31, ---------------------- 2016 2015 ---- ---- Revenue $2,046,920 $2,486,754 Direct costs 401,545 438,816 ------- ------- Gross profit 1,645,375 2,047,938 Selling, general and administrative expenses 1,372,175 2,206,787 Depreciation and amortization 86,973 53,319 ------ ------ Income (loss) from operations 186,227 (212,168) Interest income 198 808 Interest expense (24,973) (3,133) Other expense - (3,317) --- ------ Net income (loss) before tax provision $161,452 $(217,810) Tax provision 1,247 - ----- --- Net income (loss) $160,205 $(217,810) ======== ========= Net income (loss) per share: Net income (loss) per share, basic $0.09 $(0.14) ===== ====== Weighted-average shares outstanding, basic 1,755,253 1,513,165 ========= ========= Net income (loss) per share, diluted $0.09 $(0.14) ===== ====== Weighted-average shares outstanding, diluted 1,817,785 1,513,165 ========= =========

    For the 12 Months Ended December 31, -------------------------------- 2016 2015 ---- ---- Revenue $8,982,867 $9,959,704 Direct costs 1,604,219 2,078,246 --------- --------- Gross profit 7,378,648 7,881,458 Selling, general and administrative expenses 6,042,427 10,574,731 Depreciation and amortization 253,467 189,863 ------- ------- Income (loss) from operations 1,082,754 (2,883,136) Interest income 792 2,325 Interest expense (48,092) (14,742) Other expense (6,025) (3,317) ------ ------ Net income (loss) before tax provision $1,029,429 $(2,898,870) ========== =========== Tax provision 12,636 - ------ --- Net income (loss) $1,016,793 $(2,898,870) ========== =========== Net income (loss) per share: Net income (loss) per share, basic $0.60 $(1.93) ===== ====== Weighted-average shares outstanding, basic 1,680,859 1,498,717 ========= ========= Net income (loss) per share, diluted $0.60 $(1.93) ===== ====== Weighted-average shares outstanding, diluted 1,833,869 1,498,717 ========= =========

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/datatrak-international-inc-reports-fourth-quarter-and-full-year-results-for-2016-300417058.html

    DATATRAK International, Inc.

    CONTACT: Sales: Scott DeMell, Scott.DeMell@datatrak.com; Employment
    Opportunities: Laura Stuebbe, Laura.Stuebbe@datatrak.com; Shareholders:
    Alex Tabatabai, investor@datatrak.com

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




    Digital Media Professionals Uses Cadence Palladium XP Verification Computing Platform and Hosted Design Solutions to Speed Time to MarketCadence Hosted Design Solutions provide Digital Media Professionals with remote access to the Palladium XP platform, providing a secure connection to their verification environment

    SAN JOSE, Calif., March 2, 2017 /PRNewswire/ -- Cadence Design Systems, Inc. today announced that Digital Media Professionals is using the Cadence((R)) Palladium((R)) XP Verification Computing Platform along with the company's Hosted Design Solutions (HDS) to expand its emulation capacity and manage verification cycles remotely. The software as a service (SaaS) solution helps ensure the timely delivery of graphics-based systems on chips (SoCs) for multimedia applications. Having remote access to the Palladium XP platform enabled the Digital Media Professionals team to run more jobs dynamically and efficiently execute on all the possible verification scenarios required for successful design signoff. The Palladium XP platform and Cadence HDS helped them get to market two to three months faster and deliver a higher quality product when compared with a design flow without emulation functionality.

    While the Palladium XP platform provided all the advanced capabilities that Digital Media Professionals needed, the company decided to incorporate Cadence HDS to facilitate even greater productivity. Secure VPN access to the hosted Palladium XP platform enabled Digital Media Professionals to access the remote verification environment with the same rich functionality as if the hardware was on site. Digital Media Professionals also had the ability to transfer their design data securely and the flexibility to access additional peak capacity without the added internal logistics of having the Palladium XP platform hosted locally.

    "As a leading provider of IP and chips for GPU and image recognition, our customers rely on us for the timely delivery of differentiated products for imaging and vision applications including video games, video production, medical and aerospace," said Eisaku Ohbuchi, Managing Director, General Manager of Development Division at Digital Media Professionals. "The combination of the Palladium XP platform and Cadence HDS offered us the convenience of accessing peak emulation cycles remotely and securely, which greatly improved our productivity and enabled us to deliver high-quality designs that our customers have come to expect from us."

    The Palladium XP platform, which is part of the Cadence Verification Suite, is a high-performance, special-purpose verification computing platform that unifies best-in-class simulation acceleration and emulation capabilities in a single environment. For more information on the Palladium XP platform, visit www.cadence.com/go/palladiumxp.

    About Cadence
    Cadence enables electronic systems and semiconductor companies to create the innovative end products that are transforming the way people live, work and play. Cadence's software, hardware and semiconductor IP are used by customers to deliver products to market faster--from semiconductors to printed circuit boards to whole systems. The company's System Design Enablement strategy helps customers develop differentiated products in mobile, consumer, cloud datacenter, automotive, aerospace, IoT, industrial and other market segments. Cadence is listed as one of FORTUNE Magazine's 100 Best Companies to Work For. Learn more at cadence.com.

    (C) 2017 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.

    For more information, please contact:
    Cadence Newsroom
    408-944-7039
    newsroom@cadence.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/digital-media-professionals-uses-cadence-palladium-xp-verification-computing-platform-and-hosted-design-solutions-to-speed-time-to-market-300416594.html

    Photo: http://mma.prnewswire.com/media/321883/cadence_design_systems__inc__logo.jpg Cadence Design Systems, Inc.

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




    NYX Content Live with Rush Street Interactive's Social and Real-money Regulated Casinos in the US

    LAS VEGAS, March 2, 2017 /PRNewswire/ --

    Rush Street is the first brick and mortar casino to launch NYX digital content via a

    single integration in both social and real-money US-regulated formats 

    NYX Gaming Group Limited ("NYX"), the market leading end-to-end supplier to lotteries, casinos and gaming operators across the globe, is extending its reach in the US online gaming market with the delivery of digital content to Rush Street Interactive's online casino brand, SugarHouse Casino (http://www.playsugarhouse.com).

    Through a single integration with the award-winning NYX Open Gaming System (OGS), Rush Street now has access to an extensive portfolio of market-leading NYX content, delivered via their PlaySugarHouse.com [http://www.playsugarhouse.com ] real-money casino, regulated in New Jersey, and their SugarHouse Casino4Fun(TM) [https://www.sugarhouse4fun.com ] site.

    Players can enjoy industry-leading games from NYX's wholly owned subsidiary, NextGen Gaming, such as Merlin's Millions and Gorilla Go Wild on the channel of their choice - including a significantly expanded mobile game selection.

    Kevin Vonasek, NYX's Chief Product Officer Americas said, "NYX is both excited and fortunate to be working with Rush Street Interactive. Richard Schwartz and his team are thought leaders in the interactive gaming space and we view Rush Street as a key strategic partner in our anticipation of further iGaming regulation in the US. We're very happy to add PlaySugarHouse.com to a list of over 200 international and US casinos who currently offer NYX games to their players."

    "We have been impressed by NYX's strategic foresight to build a large library of quality mobile casino games and enable operators such as RSI to deploy these games easily on both online gambling and social gaming sites via a single integration between our proprietary igaming platform and NYX's OGS," said Richard Schwartz, President, Rush Street Interactive.

    This transaction marks the launch of the new NYX Social OGS service, which allows social casino platform operators to easily integrate award-winning NYX content into their social offering, just like real-money casino operators. Via the same API integration, providers can also offer the widest global portfolio of content available from NYX and its wide partner network for real-money iGaming (when operating in regulated jurisdictions).

    Notes to Editors.  

    SugarHouse Online Casino website:  https://www.playsugarhouse.com

    Rush Street Interactive website: http://rushstreetgaming.com/rush-street-interactive

    About NYX Gaming Group Limited  

    NYX Gaming Group Limited is a leading digital gaming provider headquartered in Las Vegas, USA with a staff of more than 1000 employees based in 14 countries across Europe, North America, Asia, New Zealand and Australia. The Company provides one of the world's largest portfolios of leading content and technology to some of the foremost gaming operators, lotteries and casinos across the globe. NYX also has one of the broadest distribution bases in the industry with over 200 unique customers and the widest portfolio of content available from their own global studios and broad partner network. The diversified game catalogue delivers content across web and mobile formats, focusing on Bingo, Casino, Lottery and Sportsbook verticals.

    NYX's Open Gaming System (OGS(tm)) was recently named 2016 Platform of the Year in acknowledgement of its position as the industry's market-leading gaming offering, which allows licensees to leverage the best-of-breed multi-vendor casino content from around the world.

    NYX Gaming Group Limited is listed on the TSX Venture Exchange under the symbol .

    http://www.NYXGamingGroup.com  

    About Rush Street Interactive 

    Rush Street Interactive, an affiliate of Rush Street Gaming (http://www.rushstreetgaming.com), was founded by pioneers in the internet gaming industry with decades of collective experience in developing and operating online gaming sites. Rush Street Interactive is also the developer and operator of Casino4Fun at SugarHouse Casino in Philadelphia and the real-wager PlaySugarHouse.com [http://www.playsugarhouse.com ] site in New Jersey. Rush Street Gaming is one of the fastest-growing gaming companies in North America. Rush Street developed and operates SugarHouse Casino in Philadelphia, PA., Rivers Casino in Pittsburgh, PA, Rivers Casino in Des Plaines, IL, and Rivers Casino in Schenectady, NY. For more information, visit RushStreetGaming.com.

    NYX Gaming Group Limited

    CONTACT: For more information, contact: NYX Gaming Group, Olivia
    Gillibrand, NYX Gaming Group, Phone: +447701037513, Email:
    olivia.gillibrand@openbet.com




    To Enhance Data Connectivity And Reduce Costs, Lufthansa Technik Selects UTC Aerospace Systems Aircraft Interface Device Solution- Following a wide-ranging assessment, UTC Aerospace Systems AID was selected as the preferred platform due to its data processing performance, advanced network security features, ability to host embedded applications and reliability.- Lufthansa German Airlines has ordered the AID for their fleet of A320 series aircraft, with options for the rest of their fleet.

    CHARLOTTE, N.C., March 2, 2017 /PRNewswire/ -- After an extensive, industry-wide evaluation of Aircraft Interface Device (AID) options, Lufthansa Technik has selected the latest generation AID from UTC Aerospace Systems to enable a wide range of cost-saving solutions for its customers.

    Lufthansa Technik launched a review of AID solutions from leading suppliers on behalf of Lufthansa for a more connected aircraft and the associated value-creating solutions. The study evaluated AID products from suppliers across multiple criteria, including cost, range of input/output, processing power, storage capacity and upgradeability. Luftansa Technik completed testing in its own facility to ensure the competition was based on unbiased data.

    Following the wide-ranging assessment, the UTC Aerospace Systems AID was selected as the preferred platform due to its data processing performance, advanced network security features, ability to host embedded applications and reliability. Lufthansa Technik received EASA certification for the AID system on the Airbus A320 family and is already preparing follow-on certifications on various commercial aircraft types for customers beyond the Lufthansa Group. Lufthansa German Airlines has ordered the AID for their fleet of A320 series aircraft, with options for the rest of their fleet. AID development and production work is being performed by UTC Aerospace Systems' Sensors and Integrated Systems business in Burnsville, Minnesota.

    "For Lufthansa Technik's customers, the latest AID will provide enhanced functionality, improved safety, stronger cybersecurity and greater in-flight data connectivity, while simultaneously reducing costs," said Mark Skarohlid, Vice President of Business Development for UTC Aerospace Systems. "At UTC Aerospace Systems, we're committed to providing our customers with the cutting-edge technology they need to improve performance and drive down cost, and we look forward to continuing to partner with Lufthansa moving forward."

    About UTC Aerospace Systems

    UTC Aerospace Systems is one of the world's largest suppliers of technologically advanced aerospace and defense products. UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries, supporting a global customer base with significant worldwide manufacturing and customer service facilities. For more information about the company, visit our website at www.utcaerospacesystems.com or follow us on Twitter: @utcaerosystems

    About United Technologies Corporation

    United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs. For more information about the company, visit our website at www.utc.com or follow us on Twitter: @UTC

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/to-enhance-data-connectivity-and-reduce-costs-lufthansa-technik-selects-utc-aerospace-systems-aircraft-interface-device-solution-300417065.html

    Photo: http://mma.prnewswire.com/media/462789/UTC_Aerospace_Systems_Logo.jpg UTC Aerospace Systems

    CONTACT: Al Killeffer, +1 704-423-7577, alexander.killeffer@utas.utc.com,
    www.utcaerospacesystems.com, @utcaerosystems

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




    CDK Global Partner Program Expands with Nine New Partners

    HOFFMAN ESTATES, Ill., March 2, 2017 /PRNewswire/ -- CDK Global today announced that nine application providers have joined its rapidly expanding CDK Global Partner Program. The CDK Global Partner Program makes business-ready data available for use by auto dealers, third parties and OEMs. These recently approved partners are now part of a secure marketplace of applications and integration choices that serve the business needs of auto dealers. The partners include:

    --  Auto Direct Data, Inc. (Tallahassee, FL) - provides vehicle registration
    services
    --  Auto Powered Solutions (Beaverton, OR) - provides service appointments
    online
    --  AutoLoop (Clearwater, FL) - provides CRM and service appointments online
    --  CloudOne (Vancouver, WA) - provides CRM and telephony services
    --  CTMS LLC (Kent, OH) - provides vehicle registration services
    --  Digital Dealership System, Inc. (West Palm Beach, FL) - provides
    business intelligence and analytics
    --  GrowthFX, Inc. (Highland, UT) - provides CRM customer
    marketing/follow-up
    --  Minacs Limited (Fremont, CA) - provides service appointments online
    --  Unotifi, LLC (Houston, TX) - provides CRM
    

    With the addition of these new partners, the CDK Partner Program now numbers 210 partner companies that together offer more than 315 unique applications auto dealers can use to run their businesses. New vendors join the program every month. The CDK Partner Program is focused on providing stronger security, better reliability and more choices for its dealer customers. For a full list of vendors and applications available through the partner program, go to http://www.cdkglobal.com/partners.

    About CDK Global
    With more than $2 billion in revenues, CDK Global is a leading global provider of integrated information technology and digital marketing solutions to the automotive retail and adjacent industries. Focused on evolving the automotive retail experience, CDK Global provides solutions to dealers in more than 100 countries around the world, serving more than 27,000 retail locations and most automotive manufacturers. CDK solutions automate and integrate all parts of the dealership and buying process from targeted digital advertising and marketing campaigns to the sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit www.cdkglobal.com.

    Media Contact:

    Jennifer Nagy
    847.363.4373
    Jennifer.Nagy@cdk.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cdk-global-partner-program-expands-with-nine-new-partners-300417081.html

    Photo: http://mma.prnewswire.com/media/474124/CDK_Global_Logo.jpg CDK Global, LLC

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




    General Dynamics NASSCO Delivers Final ECO Class Tanker Constructed for SEA-Vista LLC

    SAN DIEGO, March 2, 2017 /PRNewswire/ -- On Wednesday, March 1, General Dynamics NASSCO delivered the Liberty, the third and final ship to be constructed for SEA-Vista LLC as part of a larger eight-ship ECO Class tanker program.

    In 2013, NASSCO entered into an agreement with SEA-Vista to design and build three 50,000 deadweight-ton, LNG-conversion-ready product carriers to include a 330,000 barrel cargo capacity each. The 610-foot-long tankers are a new "ECO" design, offering improved fuel efficiency and cleaner shipping options. Construction for the first of the three ships for SEA-Vista LLC began in November 2014. The first two ships--the Independence and the Constitution--have been delivered and are servicing the Jones Act trade.

    "We are grateful for our partnership with SEA-Vista and the opportunity to design and construct three vessels equipped with world-leading technology and capability that will service their customers for decades to come," said Steve Davison, vice president of pre-production operations for General Dynamics NASSCO. "Credit for the successful completion of this contract goes to the thousands of world-class NASSCO shipbuilders and our partners who worked to provide unmatched quality and service from day one."

    The Liberty is the seventh vessel in an eight-ship ECO Class tanker program for two separate customers, SEA-Vista LLC and American Petroleum Tankers. The eighth ship of the program, the Palmetto State, is scheduled to be christened and launched on March 25, 2017, at the NASSCO shipyard in San Diego.

    NASSCO is the only major shipyard on the west coast of the United States conducting design, construction and repair of commercial and U.S. Navy ships. In the past decade, NASSCO delivered 29 ocean-going ships to government and commercial customers--including the world's first LNG-powered containerships. In 2015 and 2016, NASSCO processed a record 60,000 tons of steel per year.

    For its commercial work, NASSCO partners with South Korean ship designer, Daewoo Ship Engineering Company (DSEC), for access to state-of-the-art ship design and shipbuilding technologies.

    For more information, about General Dynamics NASSCO, a business unit of General Dynamics , visit www.nassco.com.

    VIDEOS:

    --  Liberty Sea Trials - February 2017
    --  Celebrating the Liberty: Christening and Launch - December 2016
    

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/general-dynamics-nassco-delivers-final-eco-class-tanker-constructed-for-sea-vista-llc-300416995.html

    Photo: http://mma.prnewswire.com/media/474070/General_Dynamics_NASSCO_Liberty_Delivery.jpg
    http://mma.prnewswire.com/media/81320/general_dynamics_logo.jpg General Dynamics NASSCO

    CONTACT: Dennis DuBard, Tel: 619 890 7542, Dennis.DuBard@nassco.com

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




    Twitter Partners with ESL and DreamHack to Live Stream esports Tournaments and Original ContentMore Than 15 Events and 1,500 hours of live programming in ESL One, Intel Extreme Masters and DreamHack Tournaments to be Live Streamed Globally

    SAN FRANCISCO, March 2, 2017 /PRNewswire/ -- Twitter today announced that it has partnered with the world's leading esports companies, ESL and DreamHack, to live stream esports events and original content in 2017. More than 15 events in the ESL One, Intel(R) Extreme Masters (IEM) and DreamHack circuits will be live streamed globally on Twitter and connected devices.

    Intel Extreme Masters Katowice, kicking off on Saturday, March 4th, will be the first tournament to be live streamed on Twitter through the deal. In addition to all Intel Extreme Masters and ESL One tournament content, ESL will also produce live original content for Twitter, including a weekly 30-minute show featuring highlights and behind-the-scenes footage. All DreamHack events will also be live streamed, starting with DreamHack Austin in April.

    "Esports is growing at a rapid pace and we see this collaboration as a way to tap into the engaged audience of gamers that are already using Twitter as a primary source of content," said Anthony Noto, COO at Twitter. "By partnering with the leading esports companies like ESL and DreamHack, we look forward to bringing the best of esports live video and conversation together on Twitter."

    "Esports fans are endemic to digital and this partnership with Twitter expands ESL's reach for all of our major tournaments for fans around the globe," said Johannes Schiefer, Vice President Social Media & Editorial at ESL. "Intel Extreme Masters Katowice is our most anticipated live event, and we are excited to bring premier content from this tournament and beyond to more fans in a premium experience."

    "Twitter is a very strong esports platform, where many of our fans and followers already engage with DreamHack events," said Marcus Lindmark, CEO & President at DreamHack. "This will be a shortcut for fans, as they can both watch and engage on the platform at the same time."

    The live content on Twitter, which is set to begin on March 4th, will be available globally at esl.twitter.com, iem.twitter.com, and dreamhack.twitter.com. The live streams on Twitter will also include advertising packages with TV style ad spots combined with original highlight and recap clips that advertisers can sponsor and promote on Twitter.

    About Twitter
    Twitter, Inc. is the best and fastest place to see what's happening and what people are talking about all around the world. From breaking news and entertainment to sports and politics, from big events to everyday interests. If it's happening anywhere, it's happening first on Twitter. Twitter is where the full story unfolds with all the live commentary and where live events come to life unlike anywhere else. Twitter is available in more than 40 languages around the world. The service can be accessed at twitter.com, on a variety of mobile devices and via SMS. For more information, visit about.twitter.com or follow @twitter.

    About ESL
    ESL, a part of the international digital entertainment group MTG, is the world's largest esports company, leading the industry across the most popular video games with numerous online and offline competitions. It operates high profile, branded international and national leagues and tournaments such as the Intel(R) Extreme Masters, ESL One, ESL National Championships and other top tier stadium-size events, as well as grassroots amateur cups, leagues and matchmaking systems. ESL covers a broad field of services in gaming technology, event management, advertising and television production, fully catering to the needs of the esports ecosystem. With offices in North America, Germany, Russia, France, Poland, Spain, China, and partners in many other countries, it has a truly global footprint. www.eslgaming.com

    About DreamHack
    DreamHack, a part of the international digital entertainment group MTG, is the world's largest computer festival. DreamHack's core, and origin is the LAN party, with the two major festivals in Sweden, DreamHack Summer in June and DreamHack Winter in November. DreamHack also arranges festivals, events and competitions in several locations in Europe and North America.

    The events are a platform for esport, knowledge and creative competitions, music acts, lectures by game developers, Internet & game culture, cosplay, the fair DreamExpo and much much more. DreamHack is also a production company with a focus on gaming, esports, music and arena productions for both traditional TV and the Internet.

    During 2016 DreamHack had 233,000 visitors to its events and more than 135 million viewers who followed the live broadcast online. More information is available on www.dreamhack.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/twitter-partners-with-esl-and-dreamhack-to-live-stream-esports-tournaments-and-original-content-300416521.html

    Photo: http://mma.prnewswire.com/media/366147/twitterlogo__55acee_logo_Logo.jpg Twitter, Inc.

    CONTACT: press@twitter.com

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




    Cruise Critic Announces Partnership with MSC CruisesFrom Online Conversations to Onboard Parties

    EWING, N.J., March 2, 2017 /PRNewswire/ -- Cruise Critic((R)), the world's leading cruise reviews site and online cruise community, today announced a new partnership with MSC Cruises, the world's largest privately-owned cruise line, to expand the Cruise Critic Meet & Mingle program. Starting March 2017, MSC Cruises will host Cruise Critic Meet & Mingle parties, allowing people who have been chatting online to meet in person while onboard.

    "We're delighted to partner with MSC Cruises to offer this fantastic opportunity for people who have connected online, through Cruise Critic, to meet up in person," explained Mike Ewing, General Manager, Cruise Critic. "Cruising is a wonderfully social experience and with this program in place it's even easier to enjoy meeting new friends at sea. We're thankful to MSC Cruises for offering such a warm welcome to our members."

    "MSC Cruises is committed to offering our guests the best vacation experience possible and, for those who love to cruise, part of that experience is the opportunity to meet and make friends with like-minded people," said Roberto Fusaro, president of MSC Cruises USA. "MSC Cruises is thrilled to partner with Cruise Critic to host Meet and Mingle parties on board the ultramodern and beautiful MSC Divina so that members can socialize with each other as well as have the unique opportunity to chat with the ship's officers."

    Cruise Critic makes it easy for cruisers to find others who will be on their next cruise through its Roll Call forums. People can register free of charge and chat with other cruisers - often making friends months before they leave home. Through Meet and Mingle partnerships with eight cruise lines, Cruise Critic extends the experience by offering cruisers the opportunity to meet while onboard. Cruise Critic has similar agreements in place with Azamara, Carnival, Celebrity, Crystal, Royal Caribbean, Silversea and Viking Ocean cruise lines.

    Through the partnership with MSC Cruises, attendees will have the chance to meet some of the ship's officers and staff, as well as online friends, in addition to enjoying complimentary refreshments and hors d'oeuvres. Cruise Critic members participating in the Meet and Mingle party will also receive a souvenir group photo.

    Meet and Mingle parties will be available on all MSC Divina cruises, beginning on March 4, 2017, provided at least six people register to participate. MSC Divina sails the Caribbean year-round from PortMiami. Those interested in participating should visit http://www.cruisecritic.com/rollcall.

    About MSC Cruises:
    MSC Cruises is the world's largest privately-owned cruise line and brand market leader in Europe, South America and South Africa. As one of the world's leading global cruise lines, MSC Cruises sails to over 150 destinations worldwide, including year-round in the Mediterranean and the Caribbean.

    About Cruise Critic
    Cruise Critic(R) is an online cruise guide, offering a comprehensive resource for cruise travelers, from first-time cruisers to avid cruise enthusiasts. The site features more than 160,000 cruise reviews and hosts the world's largest online cruise community where travelers share experiences and opinions with fellow cruisers. Cruise Critic was the first consumer cruise site on the Internet, launched in October 1995 by The Independent Traveler, Inc., a subsidiary of TripAdvisor, Inc.

    TripAdvisor, Inc. , through its subsidiaries, manages and operates websites under 23 other travel media brands:
    www.airfarewatchdog.com, www.bookingbuddy.com, www.citymaps.com, www.cruisecritic.com, www.familyvacationcritic.com, www.flipkey.com, www.thefork.com (including www.lafourchette.com, www.eltenedor.com, www.iens.nl and www.dimmi.com.au), www.gateguru.com, www.holidaylettings.co.uk, www.holidaywatchdog.com, www.housetrip.com, www.independenttraveler.com, www.jetsetter.com, www.niumba.com, www.onetime.com, www.oyster.com, www.seatguru.com, www.smartertravel.com, www.tingo.com, www.travelpod.com, www.tripbod.com, www.vacationhomerentals.com and www.viator.com.

    Media Contact:
    pr@cruisecritic.com
    609-583-0054

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cruise-critic-announces-partnership-with-msc-cruises-300416938.html

    Cruise Critic

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




    Existence of Substantial Power in the Market of Restricted Television and Audio

    MEXICO CITY, March 2, 2017 /PRNewswire/ -- Grupo Televisa, S.A.B. announced today that it, together with some of its subsidiaries, has been declared by the Federal Telecommunications Institute ("IFT") to be an economic agent with substantial power in the market of restricted television and audio, based on data relevant up to 2014.

    On September 30, 2015, IFT had resolved that there were no elements to determine the existence of substantial power by the Company in that market (the "Original Ruling").

    On January 19, 2017, as a result of an injunction filed by a competitor, a Circuit Court ordered IFT to revoke the Original Ruling and issue a new ruling. In summary, the Court determined that in IFT's original examination, IFT took into consideration elements of information outside the relevant period of time under review, which should have been exclusively the period between January 2009 and August 2014.

    As a consequence of the ruling notified to the Company, IFT will begin a new proceeding by which it may or may not determine the imposition of certain measures on the Company in respect to the relevant market. The Company will be heard in this proceeding.

    The Company considers that the reversal of IFT's Original Ruling is unconstitutional and does not comply with the guidelines of the Circuit Court and, therefore, it will pursue all options in its defense. Even though the Company will vigorously defend its stance, it is not possible to determine the outcome.

    About Televisa

    Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico. Televisa distributes the content it produces through several broadcast channels in Mexico and in over 50 countries through 26 pay-tv brands, and television networks, cable operators and over-the-top or "OTT" services. In the United States, Televisa's audiovisual content is distributed through Univision Communications Inc. ("Univision") the leading media company serving the Hispanic market. Univision broadcasts Televisa's audiovisual content through multiple platforms in exchange for a royalty payment. In addition, Televisa has equity and warrants which upon their exercise would represent approximately 36% on a fully-diluted, as-converted basis of the equity capital in Univision Holdings, Inc., the controlling company of Univision. Televisa's cable business offers integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and international carriers through five cable Multiple System Operators in Mexico. Televisa owns a majority interest in Sky, a leading direct-to-home satellite pay television system in Mexico, operating also in the Dominican Republic and Central America. Televisa also has interests in magazine publishing and distribution, radio production and broadcasting, professional sports and live entertainment, feature-film production and distribution, and gaming.

    Investor Relations:
    Carlos Madrazo / Tel: (52 55) 5261 2445 / cmadrazov@televisa.com.mx

    Media Relations:
    Alejandro Olmos / Tel: (52 55) 4438 1205 / aolmosc@televisa.com.mx
    Maria Eugenia Zurita / Tel: (52 55) 52 24 63 60 / mezurita@televisa.com.mx

    www.televisair.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/existence-of-substantial-power-in-the-market-of-restricted-television-and-audio-300416972.html

    Grupo Televisa, S.A.B.

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




    BOSS Revolution Releases Major Update to its Popular Calling AppNow Includes FREE App2App Calling and MessagingTalk. Text. Send. Share. You've got it all.

    NEWARK, N.J., March 2, 2017 /PRNewswire/ -- IDT Corporation , a global provider of communication and payment services, today released a redesigned version of its BOSS Revolution(R) app that makes staying close to friends and family around the world easier than ever with FREE app2app calling and messaging.

    The new BOSS Revolution app - which still features affordable, high-quality international long distance calling - now brings voice, messaging, picture and video sharing together in one easy-to-use application.

    "Our customers have a choice. They can make low-cost calls to landlines or mobile phones or use the new app2app capabilities to call or text for FREE," said Bill Pereira, IDT Telecom's Chief Executive Officer.

    The BOSS Revolution app also integrates seamlessly with the new BOSS Revolution Money app to provide easy and secure money transfers, mobile airtime top-ups and electronic gift cards. The two BOSS Revolution apps work in unison to bring family and friends together wherever they are.

    "Together, the BOSS Revolution and BOSS Revolution Money apps are the best way to make sure that those you care about are always close. Our customers can Talk. Text. Send and Share. They've got it all," Pereira added.

    BOSS Revolution app customers can recharge in the app or online with a credit or debit card, a BOSS Revolution Recharge Card, or Google Play account. Customers can also recharge with cash at any BOSS Revolution retailer in eight countries including the US, Canada and the UK.

    The new app is available in several languages including English, Spanish, French, German and Portuguese. In addition, app users can invite their friends to download the app and start talking or messaging for free with the app2app features. The BOSS Revolution app is free for download in the iTunes App and Google Play stores in more than 200 countries worldwide.

    About IDT Corporation:

    IDT Corporation , through its IDT Telecom division, provides telecommunications and payment services to individuals and businesses primarily through its flagship Boss Revolution(R) and Net2Phone(R) brands. IDT Telecom's wholesale business is a leading global carrier of international long distance calls. For more information on IDT, visit www.idt.net.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/boss-revolution-releases-major-update-to-its-popular-calling-app-300416470.html

    Photo: http://mma.prnewswire.com/media/408440/IDT_Corporation_Logo.jpg IDT Corporation

    CONTACT: Ben Hirsch, Ben.hirsch@idt.net, 973-438-4028

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




    Natcore, Denzo to Double Scope of Queensland Solar Farm

    Partnership will add Denikon, Italian solar energy company

    ROCHESTER, N.Y., March 2, 2017 /PRNewswire/ -- Natcore Technology , in partnership with Denzo Group Australia, has increased the size of a solar project planned for Bundaberg, Australia. Bundaberg is in the Wide Bay-Burnett Region of Queensland.

    Originally announced as a 30 MW solar farm on a 90-hectare site, the project will now be a 58 MW farm on a 188-hectare site, and will have land set aside for a proof-of-concept battery storage facility. Denzo has secured the land; has advanced negotiations with the Powerlink, the transmission owner; and has filed a pre-development application to the Bundaberg Regional Council, receipt of which has been acknowledged.

    Denzo has a pipeline of 200 megawatts of large-scale solar projects in progress in the east coast of Australia, Queensland and New South Wales. "Our intention is to use Natcore's 'Best of Breed' innovation to produce a working example of the very latest solar generation technology, coupled with the best storage available to generate stable electricity at a realistic capital investment and a bankable ROI," says Ken Mathews, Managing Director of Denzo.

    Under its "Best of Breed" program, Natcore functions as a consultant or general contractor on the design and construction of solar cell/solar panel fabrication facilities and solar power farms. As part of this service, Natcore recommends a selection of manufacturing equipment to its clients. Clients would also gain exclusive access, on a geographical basis, to Natcore's newest technologies, including black silicon, laser processing and rear contact technology as those technologies come on line.

    To develop the Queensland project, Natcore and Denzo plan to form Clean Holdings Pty Ltd., a Special Purpose Vehicle in Australia.

    "This project is moving along nicely," says Natcore President and CEO Chuck Provini. "We're mostly dealing with the private sector here, so there are precedents that help guide us from beginning to end, including predictable cost and pricing models."

    About Denzo Group Australia
    Denzo was started in Australia in 1965 as a private company with auto service stations and retail tire outlets. In 1982, the company was converted to Denzo Pty Limited, as Trustee for the Mathews No. 1 Family Trust. The company is headquartered in Terrigal, NSW.

    Denzo Pty Limited has operated in Australia, Singapore, Thailand, Indonesia, China, South Korea and the United States. The company has been involved in alternative fuels (LNG, solar), import (cars, yachts) and export, manufacturing (gas meters, automotive plastics), and retail sales.

    About Natcore Technology
    Natcore Technology is focused on using its proprietary nanotechnology discoveries to enable a variety of compelling applications in the solar industry. Specifically, the company is advancing applications in laser processing, black silicon and quantum-dot solar cells to significantly lower the costs and improve the power output of solar cells. With 65 patents (31 granted, 34 pending), Natcore is on the leading edge of solar research. www.NatcoreSolar.com.

    Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore's business, including risks inherent in the technology history. There can be no assurance that such forward-looking 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 such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

    Neither 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.

    Contact: Chuck Provini 585-286-9180 Info@natcoresolar.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/natcore-denzo-to-double-scope-of-queensland-solar-farm-300416918.html

    Natcore Technology



    DarioHealth Corp. Strengthens Board of Directors with Two Additional Appointments

    CAESAREA, Israel, March 2, 2017 /PRNewswire/ --

    Two new board members are Managing Partners at OurCrowd Qure

    New board members Dr. Yossi Bahagon and Allen Kamer bring unique vision and years of successful digital health executive and entrepreneurship experience

    DarioHealth Corp. , a leader in digital health and mobile health solutions and the developer of the Dario(TM) Blood Glucose Monitoring System, today announced that two seasoned executives were appointed to its Board of Directors.

    http://photos.prnewswire.com/prnvar/20160802/395077LOGO

    The two new board members are Dr. Yossi Bahagon and Allen Kamer - Managing Partners at OurCrowd Qure, the exclusive digital health fund that led the previously announced fundraising round in DarioHealth for an aggregate raise of up to $5.1 million, of which approximately $3.1 million has already closed. Both have had successful digital health careers in their own right, and bring over 45 years of combined senior managerial experience.

    Prior to joining OurCrowd Qure, Dr. Bahagon founded and managed the second largest digital healthcare system in the world, touching millions of patients each month. In addition, Mr. Kamer brings extensive leadership experience, as he previously co-founded Humedica, a transformative population health and analytics company, which was sold to UnitedHealth in 2013.

    Erez Raphael, Chairman and CEO of DarioHealth commented on the appointment: "We have formed a strategic alliance with OurCrowd Qure and the appointment of Dr. Bahagon and Mr. Kamer solidifies this alliance. Dr. Bahagon is an expert in the digital health space, and Mr. Kamer is a leading expert on big data analysis. I believe their influence, mentorship and business development abilities will take DarioHealth to greater heights."

    Allen Kamer, Managing Partner of OurCrowd Qure said, "DarioHealth is an extremely innovative company, and we are equally impressed with Mr. Raphael and his ability to lead the company and the outstanding accomplishments the company has achieved to date. The digital health self-management market is an emerging market and we think Dario's solution offers an exceptional user experience approach. Dr. Bahagon and myself are looking forward to working with the team and to execute the company's strategy and disrupt current healthcare delivery."

    About DarioHealth Corp.

    DarioHealth is a leader in digital health self-management solutions. DarioHealth delivers the ability to combine and analyze consumer health data to personalize treatment and advance medical knowledge. Dario's(TM) smart diabetes management solution is a platform for diabetes management that combines the Dario(TM) Blood Glucose Monitoring System all-in-one blood glucose meter, native smart phone app, website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems. Having recently launched in the largest market in the world for glucose monitoring, U.S. sales are expected to have a significant impact on revenues and gross margins. With marketing clearance in Europe and the U.S., the Dario iOS mobile app recently launched with reimbursement in the United Kingdom, Australia, Israel, Italy, and Canada, and has also launched in New Zealand, Netherlands, Italy, and Belgium. For more information, visit http://mydario.investorroom.com/

    About OurCrowd Qure

    OurCrowd Qure, Israel's first exclusively focused digital health fund is focusing on investing in disruptive digital health companies. Qure focuses on solutions that significantly improve quality of patient care and health services, reduce costs of healthcare delivery, create transparency of information and empower consumers to make better health choices. Qure is OurCrowd's first sector fund dedicated to the rapidly developing digital health market. Qure has already established agreements with a global network of leading strategic partners to provide its portfolio companies with validation of value, fast track market access, on-going feedback and exposure of unmet needs. This digital health ecosystem raises the qualifications of our portfolio companies and enhances their ability to become market leaders.

    OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community of over 17,000 investors from over 110 countries has invested over $400M into 110 portfolio companies and funds.

    Cautionary Note Regarding Forward-Looking Statements

    This news release and the statements of representatives and partners of DarioHealth Corp. (the "Company") related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. For example, when the Company describes the belief that the influence, mentorship and business development abilities of Messrs. Bahagon and Kamer will take the Company to new heights and that the U.S. sales are expected to have a significant impact on revenues and gross margins,, it is using forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario(TM)) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

    DarioHealth Corporate and Media Contact
    Shmuel Herschberg
    Marketing Director
    shmuel@mydario.com
    +1-800-896-9062

    DarioHealth Investor Relations Contact
    Hayden IR
    Rob Fink / Brett Maas
    DRIO@HaydenIR.com
    +1-646-415-8972 / +1-646-536-7331

    OurCrowd Qure Media and Investor Relations Contact
    Leah Stern
    OurCrowd Communications Director
    leah@ourcrowd.com
    +44(0)747-019-6826
    +1-703-626-4310

    Logo - http://photos.prnewswire.com/prnh/20160802/395077LOGO

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dariohealth-corp-strengthens-board-of-directors-with-two-additional-appointments-300416841.html

    Photo: http://photos.prnewswire.com/prnh/20160802/395077LOGO DarioHealth Corp.

    Web site: https://mydario.com//




    SCI Technology Hosts U.S. Army Acquisition Community For AACoE's Intermediate Qualification CourseOn-site Activities and Professional Development Foster Partnership

    HUNTSVILLE, Ala., March 2, 2017 /PRNewswire/ -- As part of its commitment to professional development for U.S. Army Acquisition personnel, SCI Technology, Inc., a division of Sanmina Corporation [NASDAQ: SANM], hosted 20 majors and lieutenant colonels on February 9(th) for the Army Acquisition Center of Excellence's (AACoE) Intermediate Qualification Course (IQC). The Army Acquisition Corps is responsible for developing, acquiring, fielding and sustaining the materials needed to meet the U.S. Army's current and future mission requirements.

    Visiting SCI helps these U.S. army officers advance their professional development by providing insight into a defense and aerospace technology firm's day-to-day operations. For SCI, hosting the officers represented a valuable opportunity to foster partnerships with future Army Acquisition leaders.

    "This was a great way for SCI to give back to the Acquisition Corps, and at the same time help develop the skills of officers who provide superior acquisition support for the U.S. Army," SCI President Mike Underwood said. "Everyone at SCI was delighted to share their time and experience with the next generation of Army Acquisition leadership."

    The visit included a tour of Sanmina and SCI's 685,000-square-foot facility and a Q&A session with SCI's leadership team. Roundtable discussions covered several topics related to acquisition, including program management, contracting, business development, engineering & product development, manufacturing, test and quality control.

    Headquartered in Huntsville, Alabama, SCI delivers unsurpassed quality and support to the defense and aerospace sector. For more than 55 years, SCI has designed and provided some of the most advanced systems for military and commercial aviation, ground tactical and other defense applications, as well as industrial and space-flight programs.

    Located on the campus of the University of Alabama in Huntsville, the AACoE is the Army's education directorate that oversees and provides professional military education for all Army acquisition officers. The IQC is a three-week program aimed at developing acquisition officers capable of leading and managing any acquisition organization at the senior level.

    The army officers who visited SCI are active duty, Army National Guard and Army Reserve officers with 11 to 15 years of service. On average, they have completed two acquisition assignments, with the majority serving as Assistant Program Managers, Contracting Officers, Combat Developers or Test Officers. For more information about this topic or about SCI, contact Marketing and Communications Senior Manager Angela Hardin by email at angela.hardin@sci.com, or by telephone at 1-256-882-4588.

    About SCI Technology, Inc.
    SCI designs and provides some of the most advanced systems for military and commercial aviation, ground tactical and other defense applications, as well as industrial and space-flight programs. SCI also provides services including network-centric communications solutions and post-delivery sustainment. Headquartered in Huntsville, Alabama, SCI delivers unsurpassed quality and support to the defense and aerospace sector. More information regarding the company is available at http://www.sci.com.

    About Sanmina Corporation
    Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides engineering and end-to-end manufacturing solutions to Original Equipment Manufacturers (OEMs) primarily in the communications networks, defense and aerospace, industrial and semiconductor systems, medical, multimedia, computing and storage, automotive and clean technology sectors. More information about the company is available at www.sanmina.com.

    Sanmina Safe Harbor Statement
    The foregoing, including the discussion regarding the Company's future prospects, contains certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales principal customers, the ability of Sanmina to effectively assimilate acquired businesses and achieve the anticipated benefits of its acquisitions, and competition and technological change. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors, including factors set forth in our Company's Annual and quarterly reports filed with the Securities Exchange Commission.

    Logo: http://photos.prnewswire.com/prnh/20160907/405449LOGO

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sci-technology-hosts-us-army-acquisition-community-for-aacoes-intermediate-qualification-course-300416483.html

    Photo: http://photos.prnewswire.com/prnh/20160907/405449LOGO Sanmina Corporation

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




    Clearsense Leverages Hortonworks to Drive Innovation in Healthcare

    SANTA CLARA, Calif., March 2, 2017 /PRNewswire/ -- Hortonworks, Inc. (R) , a leading innovator of open and connected data platforms, today announced that Clearsense, a developer of an advanced healthcare data ecosystem and data applications focused on improving outcomes, is leveraging Hortonworks Data Platform (HDP(R)) and Hortonworks DataFlow (HDF(TM)) to capture value from Big Data produced by the healthcare industry.

    Clearsense was born out of a passion for helping healthcare organizations realize the promise of their data. It provides clearer insights into care delivery and decision-making of clinical, financial and operational challenges. With HDF, Clearsense ingests data from hospitals and health systems across the United States. That data lands into HDP, where Clearsense runs advanced analytics and data science for applications that provide real-time intelligence for their clients.

    "Hortonworks provided Clearsense with a complete set of advanced Big Data technology components that we utilized to build our healthcare centric data ecosystem. Through the use of HDF and Apache NiFi, our clients are afforded the ability to be the first to access real-time information and data to make more informed clinical, operational and financial assessments at the point of decision," said Christopher Rogowski, President of Clearsense. "Traditional technologies and analytics provide for static, latent, historic or incomplete views. What Clearsense provides to our clients is the right information at the right time with the right parameters. We assist them with just the information they need for specific uses. Hortonworks brings extreme value to our ability to transition data into strategic assets."

    Whether Clearsense's clients have clinical, financial, supply-chain or other operational challenges to address, HDP and HDF enable Clearsense to deliver exceptional value to their clients and their clients' patients. For instance, one of Clearsense's clients, a renowned healthcare provider, wanted to monitor key patient vital signs for any adverse trends. Clearsense spotted one such trend well in advance of a critical patient health situation. Such actionable insight would not be possible without analysis of real-time, streaming data through HDF.

    "The combination HDP and HDF is enabling healthcare providers to have access to quality real-time and historical data, which can radically change how healthcare services are delivered and consumed," said Richard Proctor, General Manager of Healthcare at Hortonworks. "Clearsense is the perfect example of a forward-thinking healthcare organization utilizing the value of its data to transform the way it does business. We are proud that our technology is playing an integral role in helping them improve the lives of patients."

    To read more about how connected data platforms help deliver more efficient healthcare, visit http://hortonworks.com/solutions/healthcare/.

    About Hortonworks

    Hortonworks is an industry leading innovator that creates, distributes and supports enterprise-ready open data platforms and modern data applications that deliver actionable intelligence from all data: data-in-motion and data-at-rest. Hortonworks is focused on driving innovation in open source communities such as Apache Hadoop, Apache NiFi and Apache Spark. Along with its 2,100+ partners, Hortonworks provides the expertise, training and services that allow customers to unlock transformational value for their organizations across any line of business.

    Hortonworks, Powering the Future of Data, HDP and HDF are registered trademarks or trademarks of Hortonworks, Inc. and its subsidiaries in the United States and other jurisdictions. For more information, please visit www.hortonworks.com. All other trademarks are the property of their respective owners.

    Media Contact:
    Michelle Lazzar
    408-828-9681
    comms@hortonworks.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/clearsense-leverages-hortonworks-to-drive-innovation-in-healthcare-300416742.html

    Photo: http://mma.prnewswire.com/media/56344/hortonworks_logo.jpg Hortonworks, Inc.

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




    Reprints Desk Tops Million Dollar Mark in Annual Recurring Revenue, Continues Pivot to SaaS Business ModelResearch Solutions Subsidiary Deploys More Than 100 Platform License Agreements to Corporate Customers and Passes $1 Million in Annual Recurring Revenue (AAR)

    ENCINO, Calif., March 2, 2017 /PRNewswire/ -- Research Solutions, Inc., (OTCQB: RSSS), a pioneer in providing cloud-based solutions for scientific research, today announced that its wholly-owned subsidiary Reprints Desk surpassed the milestones of one million U.S. dollars in annual recurring revenue and more than 100 software platform deployments in the company's ongoing transformation from a service only business model to software and services. Reprints Desk's focus on acquiring new customers in the small-to-medium sized business sectors and ongoing technology development have fueled the growth of its software-as-a-service (SaaS) sales.

    In 2016, Reprints Desk announced private placement funding of $5.2 million with plans to apply capital to technology development and scaling the company's sales infrastructure. The sales team has since grown nearly 40% and the technology group is on track to deliver a more robust version of the SaaS research platform in 2017.

    "Achieving these milestones is a demonstration of our company's ability to execute upon our transformation strategy," said Peter Derycz, Reprints Desk's President and Chief Executive Officer. "Our focus is on continuing to satisfy both our blue-chip and substantial new customer bases as we prepare to introduce them to our upcoming innovations in research intelligence."

    Corporations, academic institutions, and government organizations around the world rely on Article Galaxy for copyright-compliant access to full-text scientific, technical, and medical content when subscription access does not yet exist. As a cloud-based research intelligence platform, Article Galaxy provides one-stop shopping, data augmentation of scientific content, and lowest cost acquisition of full-text journal articles, ensuring copyright-compliant access when filtering requests against subscriptions and Open Access content.

    About Research Solutions

    Research Solutions, Inc. (OTCQB: RSSS) is a pioneer in cloud-based research intelligence and retrieval solutions for R&D-driven organizations. More than 70 percent of the top 25 pharmaceutical companies in the world rely on services delivered by Research Solutions' wholly owned subsidiary Reprints Desk. The company's Software-as-a-Service (SaaS) platform provides customers with on-demand access to, and augmented data from, tens of millions of scientific, medical, and technical (STM) documents, helping them to accelerate acquisition at the point of discovery, save time and money, and remain copyright-compliant. For more information, visit www.researchsolutions.com.

    About Reprints Desk

    Reprints Desk, Inc., a wholly owned subsidiary of Research Solutions, simplifies how organizations procure, access, manage, use, and legally share scholarly journal articles, clinical reprints, patents, and other content in medical affairs and scientific, technical, and medical (STM) research. Organizations fueled by intellectual property choose Reprints Desk because of its collaborative business approach, efficient article supply system and services, and commitment to quality post-sales support. Reprints Desk has ranked #1 in every Document Delivery Vendor Scorecard from industry analyst and advisory firm Outsell, Inc. since 2008. For more information, visit www.reprintsdesk.com.

    Forward-Looking Statements

    Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers and platform deployments; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. The Company assumes no obligation to update the cautionary information in this release.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reprints-desk-tops-million-dollar-mark-in-annual-recurring-revenue-continues-pivot-to-saas-business-model-300416462.html

    Photo: http://mma.prnewswire.com/media/471966/ReprintsDesk_Logo.jpg Research Solutions, Inc.

    CONTACT: Mitja Alexander Linss, Director of Marketing, Research Solutions,
    Inc. and Reprints Desk, Inc., mlinss@reprintsdesk.com, +1 (617) 835-0854

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

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