Companies news of 2017-03-08 (page 1)

  • Nortel Inversora S.A. Announces Consolidated Results for Fiscal Year Ended December 31,...
  • IBM Breaks Industry Record for Conversational Speech Recognition by Extending Deep...
  • TeleTech Announces Fourth Quarter And Full Year 2016 Financial ResultsFourth Quarter 2016...
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  • Ooma to Present at Sidoti Conference
  • Telecom Argentina S.A. announces consolidated results for the annual period ('FY16') and...
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  • Canon Introduces Wide Array of MFPs and Printers Designed to Help Meet the Diverse Needs...
  • CDI Corp. Reports Fourth Quarter and Full Year 2016 Results
  • Turtle Beach Reports Fourth Quarter And Full Year 2016 Results In-Line With Revenue...
  • Scientific Games Signs Exclusive James Bond Licensing DealCompany To Leverage First-Ever...
  • Hyve Solutions Announces New Rack and Server Solutions Supporting Open Compute Project...
  • MSA's Anne Herman Recognized with BusinessWomen First Award
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  • IBM Researchers Store Data on World's Smallest Magnet -- a Single Atom
  • Cavium and Microsoft Collaborate to Accelerate Cloud Services with ThunderX2(TM)
  • Cavium Collaborates with Microsoft to Showcase SONiC Compatibility at OCP US Summit...
  • Lockheed Martin Awarded Third Generation USAF Logistics ContractLockheed Martin will...
  • Schneider Electric Leverages Canon's PRISMAdirect and PRISMAprepare Solutions as Workflow...
  • Meitu, Inc. and the Peacemakers Network Partner to Raise Funds for Women's...
  • Knott's Berry Farm and VRstudios Unveil Details of "VR Showdown In Ghost Town" - The First...
  • comScore Reports January 2017 U.S. Smartphone Subscriber Market Share



    Nortel Inversora S.A. Announces Consolidated Results for Fiscal Year Ended December 31, 2016

    BUENOS AIRES, Argentina, March 8, 2017 /PRNewswire/ -- Nortel Inversora S.A. Nortel Inversora S.A. ("Nortel" or the "Company") announces consolidated income of AR$ 3,987 million for the fiscal year ended December 31, 2016, of which AR$ 2,192 million correspond to Nortel as parent company of Telecom Argentina S.A. ("Telecom").

    The sole material activity of Nortel is holding 54.74% of the capital stock of Telecom, representing a holding of 55.60% of the voting and economic rights of Telecom as a result of Telecom's holding of 15,221,373 shares of treasury stock. The holding of such shares of treasury stock has been extended for up to three additional years pursuant to the resolution of the Ordinary and Extraordinary Stockholders Meeting of Telecom held on April 29, 2016.

    Relevant matters

    Dividends Payment

    The Company s Board,

    (i) at its meeting held on August 9, 2016, pursuant to the powers granted by the Stockholders Meeting, decided to deduct an amount of AR$ 172 million from the "Voluntary Reserve for the Future Distribution of Dividends" and distribute such amount as cash dividends, which were made available to the shareholders as from August 30, 2016, of which AR$ 84 million were cash dividends for the Class "B" Preferred Shares and AR$ 88 million were cash dividends for the shares of common stock; and

    (ii) at its meeting held on October 24, 2016, approved the distribution of AR$540 million as cash dividends in advance, subject to the ratification by the General Stockholders Meeting in which the annual Financial Statements shall be considered, of which AR$ 264 million were cash dividends in advance to the Class "B" Preferred Shares, and AR$ 276 million were cash dividends in advance to the shares of common stock. The dividends in advance were made available to the shareholders as from November 7, 2016.

    Destination of Retained Earnings

    In respect to the Retained Earnings, according to Section 27, Chapter II of Title II of the CNV Rules, (N.T. 2013), Shareholders Meetings of Companies that exhibit cumulative positive results in their annual financial statements not subject to restrictions for its distribution, should adopt an express resolution regarding its allocation to either one or a combination of the following: cash dividend distribution, share capitalization or creation of reserves, where it should be specifically foreseen in the Agenda of Shareholders Meeting that deals with the treatment of the distributable earnings.

    In relation to these alternatives, the Board of Directors proposes to allocate the amount of the Retained Earnings of AR$ 1,652 million to the Voluntary Reserve for Future Dividends Payments.

    Moreover, it is proposed that the Shareholders Meeting determines the amount to be withdrawn from the Voluntary Reserve for Future Dividends Payments and the opportunity and conditions for the cash dividend payment to Shareholders, notwithstanding the faculty of the Board of Directors to determine the payment of anticipated dividends in accordance to that contemplated in Section 224, second paragraph of the General Corporations Law.

    NORTEL INVERSORA S.A. --------------------- FISCAL YEAR ENDING DECEMBER 31, 2016 ------------------------------------- (In millions of Argentine Pesos, except statistical and ratio data) Consolidated Income Statement 2016 2015 ----------------------------- ---- ---- Total sales and other income 53,322 40,539 Operating costs (45,517) (34,334) ------- ------- Operating income 7,805 6,205 Financial results, net (2,214) (1,067) ------ ------ Net income before income tax expenses 5,591 5,138 Income tax expense (1,604) (1,704) ------ ------ Net income 3,987 3,434 ===== ===== Other comprehensive income, net of tax 263 257 --- --- Total comprehensive income for the period 4,250 3,691 ===== =====

    Consolidated Balance Sheet 2016 2015 -------------------------- ---- ---- Current assets 15,620 11,569 Non-current assets 32,354 26,973 ------ ------ Total assets 47,974 38,542 ====== ====== Current liabilities 16,524 16,945 Non-current liabilities 11,527 3,944 ------ ----- Total liabilities 28,051 20,889 ====== ====== Equity attributable to Nortel 10,797 9,605 Equity attributable to non- controlling shareholders 9,126 8,048 ----- ----- Total equity 19,923 17,653 ------ ------ Total liabilities and equity 47,974 38,542 ====== ====== Ratios ------ Liquidity (a) Indebtedness (b) (a) Current assets to current liabilities 0.95 0.68 (b) Total liabilities to shareholders' equity 1.41 1.18

    Maria de los Angeles Blanco Salgado
    Officer in Charge of Market Relations

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nortel-inversora-sa-announces-consolidated-results-for-fiscal-year-ended-december-31-2016-300420702.html

    Nortel Inversora S.A.

    CONTACT: Maria Blanco Salgado, mblancosalgado@ta.telecom.com.ar,
    54-11-4968-3631

    Web site: http://www.nortelsa.com.ar/




    IBM Breaks Industry Record for Conversational Speech Recognition by Extending Deep Learning Technologies

    ARMONK, N.Y., March 8, 2017 /PRNewswire/ -- IBM today announced that it broke the industry record for speech recognition, creating a technology that recognizes spoken words ever closer to human parity.

    Last year, IBM announced a major improvement in conversational speech recognition: a system that achieved a 6.9 percent word error rate. Since then, IBM Researchers have continued to push the boundaries of accuracy rates, achieving this historic milestone and setting an industry record of 5.5 percent, a 20% improvement from the rate than was reported six months prior.

    "These speech developments build on decades of research, and achieving speech recognition comparable to that of humans is a complex task. At IBM, we are dedicated to creating the technology that will one day match the complexity of how the human ear, voice and brain interact," said Michael Karasick, IBM Vice President, Cognitive Computing. "This progress will have important implications for how man and machine collaborate in the future, making the interactions more natural and productive. We believe it is only a matter of time before we achieve parity on speech recognition with humans."

    The success of speech recognition technology is measured against human parity, an error rate on par with that of two humans speaking. Previously, human parity was considered a 5.9 percent word error rate; IBM partnered with Appen, a speech and technology service provider, to reassess the industry benchmark and determined that human parity is lower than what anyone has yet achieved: 5.1 percent.

    In the face of other industry claims, this research, in partnership with Appen, shows finding a standard measurement for human parity across the industry is more complex than it seems. As IBM continues to develop and improve upon this technology, its researchers will remain accountable to the highest standards of accuracy when measuring for it for the findings to be truly valuable.

    "In spite of impressive advances in recent years, reaching human-level performance in AI tasks such as speech recognition or object recognition remains a scientific challenge. Indeed, standard benchmarks do not always reveal the variations and complexities of real data," says Yoshua Bengio, leader of University of Montreal's Institute for Learning Algorithms. "IBM continues to make significant strides in advancing speech recognition by applying neural networks and deep learning into acoustic and language models."

    "The ability to recognize speech as well as humans do is a continuing challenge, since human speech, especially during spontaneous conversation, is extremely complex," Julia Hirschberg, a professor and Chair at the Department of Computer Science at Columbia University. "IBM's recent achievements in speech recognition are quite impressive, as is IBM's dedication to better understand how we measure the success speech technology and industry benchmarks."

    Today's achievement builds upon IBM's recent advancements in language and speech technology, gained from IBM's decades of experience researching, developing and investing in AI technology. These research developments are critical to advancing the development and adoption of cognitive around the globe; as we continue to strengthen and improve upon our speech and language technology, these updates will be embedded in the cognitive capabilities we offer via the Watson Developer Cloud.

    More details on the announcement can be found at the Watson blog or via the research paper on Arxiv.org.

    About IBM Research

    For more than seven decades, IBM Research has defined the future of information technology with more than 3,000 researchers in 12 labs located across six continents. Scientists from IBM Research have produced six Nobel Laureates, 10 U.S. National Medals of Technology, five U.S. National Medals of Science, six Turing Awards, 19 inductees in the National Academy of Sciences and 20 inductees into the U.S. National Inventors Hall of Fame.

    For more information about IBM Research, visit www.ibm.com/research.

    Media contact:
    Gabrielle Gugliocciello
    gguglio@us.ibm.com
    314-494-8715

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ibm-breaks-industry-record-for-conversational-speech-recognition-by-extending-deep-learning-technologies-300420615.html

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

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




    TeleTech Announces Fourth Quarter And Full Year 2016 Financial ResultsFourth Quarter 2016 ResultsRevenue was $344.9 Million ($346.4 Million Non-GAAP Constant Currency);Operating Income was $6.2 Million, 1.8 Percent of Revenue(8.6 Percent Non-GAAP Constant Currency);Fully Diluted EPS Loss Per Share of 1 Cent(Non-GAAP Fully Diluted EPS Per Share of 42 Cents)Signed $122 Million in New BusinessProvides Outlook for Full Year 2017 Revenue and Operating Income

    DENVER, March 8, 2017 /PRNewswire/ -- TeleTech Holdings, Inc. , a leading global provider of customer experience, engagement and growth solutions, today announced financial results for the fourth quarter and full year ended December 31, 2016.

    "2016 was an eventful year for us. Faced with sales execution challenges in the first half of 2016, we quickly implemented a set of strategic initiatives to optimize our sales performance and accelerate our profitability and cash flow," commented Ken Tuchman, chairman and chief executive officer of TeleTech. "The completion of these strategic initiatives required certain restructure and impairment charges which are one time in nature and primarily non-cash charges. We are already realizing the benefit of these actions in our new business signings, growing revenue backlog, and operating income margin improvement. Our go-to-market optimization and streamlined cost structure together with 2016's 42 new client relationships, addition of several new channel partners, and expanded footprint via the acquisition of Canadian-based Atelka positions us in 2017 to continue to deliver meaningful improvement in our top line growth, operating profit, and cash flow."

    Tuchman continued, "Customer engagement is at the forefront of every business strategy. The market demand for customer experience know-how is unquestionable. Our solutions uniquely combine strategy, analytics, technology and operations to provide our clients with everything they need to achieve customer success with every touchpoint. We are also pleased with the Board of Director's recent decision to declare another increase in the semi-annual dividend to $0.22 per share, representing an 18.9 percent year-over-year increase, as well as increase the share repurchase allowance by an incremental $25 million. These decisions reflect confidence in our business outlook and cash flow generation. We remain committed to maximizing shareholder value."

    FULL YEAR 2016 FINANCIAL HIGHLIGHTS

    Revenue

    --  Full year 2016 GAAP revenue was $1.275 billion compared to $1.287
    billion in 2015.
    --  On a non-GAAP constant currency basis, 2016 revenue grew 0.7 percent
    over the prior year to $1.295 billion. Organic revenue growth was a
    negative 0.1 percent.
    

    Income from Operations

    --  Full year 2016 GAAP income from operations was $52.8 million or 4.1
    percent of revenue compared to $90.2 million or 7.0 percent of revenue
    in 2015.
    --  2016 income from operations on a non-GAAP constant currency basis,
    adjusted for $36.4 million in restructuring charges and asset
    impairments, was $83.3 million, representing 6.4 percent of adjusted
    revenue versus 7.8 percent the prior year.
    

    Earnings Per Share

    --  Full year 2016 GAAP fully diluted earnings per share attributable to
    TeleTech shareholders was $0.71 compared to $1.26 in 2015.
    --  Non-GAAP fully diluted earnings per share was $1.32 compared to $1.48 in
    the prior year.
    

    Bookings

    During the full year 2016, TeleTech signed an estimated $422 million in annualized contract value revenue from new and expanded client relationships, a 10 percent decrease over the prior year. The bookings mix was diversified across all verticals with approximately 85 percent from existing clients, 53 percent from emerging businesses, and 20 percent outside of the United States.

    FOURTH QUARTER 2016 FINANCIAL HIGHLIGHTS

    Revenue

    --  Fourth quarter 2016 GAAP revenue increased 0.9 percent to $344.9 million
    compared to $341.8 million in the prior year period.
    --  Non-GAAP constant currency revenue increased 1.3 percent to $346.4
    million over the prior year period. Organic revenue growth was a
    negative 1.6 percent.
    

    Income from Operations

    --  Fourth quarter 2016 GAAP income from operations was $6.2 million, or 1.8
    percent of revenue, compared to $25.1 million, or 7.3 percent of revenue
    in the fourth quarter 2015.
    --  Non-GAAP constant currency income from operations was $29.7 million or
    8.6 percent of adjusted revenue versus 8.9 percent the prior year.
    

    Restructuring and Impairment

    --  Fourth quarter 2016 GAAP results include $0.5 million of restructuring
    charges and $26.4 million of impairment charges.
    

    Earnings Per Share

    --  Fourth quarter 2016 GAAP fully diluted loss per share attributable to
    TeleTech shareholders of one cent compared to income of 35 cents in the
    same period last year.
    --  Non-GAAP fully diluted earnings per share was 42 cents down from 47
    cents in the prior year.
    

    Bookings

    --  During the fourth quarter 2016, TeleTech signed an estimated $122
    million in annualized contract value revenue from new and expanded
    client relationships. The fourth quarter bookings mix was diversified
    across all verticals with 90 percent from existing clients, 46 percent
    from emerging businesses, and 28 percent from outside of the United
    States.
    

    STRONG BALANCE SHEET CONTINUES TO FUND OPERATIONS, SHARE REPURCHASES, DIVIDENDS, AND INVESTMENTS

    --  As of December 31, 2016, TeleTech had cash and cash equivalents of $55.3
    million and $229.6 million of total debt, resulting in a net debt
    position of $174.3 million.
    --  As of December 31, 2016, TeleTech had approximately $370 million of
    additional borrowing capacity available under its revolving credit
    facility.
    --  Cash flow from operations in the fourth quarter 2016 was $0.7 million
    compared to $17.6 million in the fourth quarter 2015.
    --  Capital expenditures in the fourth quarter 2016 were $12.0 million
    compared to $17.4 million in the fourth quarter 2015.
    --  The Company paid a $0.20 per share semi-annual dividend, an increase of
    eight percent, to TeleTech shareholders in the fourth quarter, or $9.3
    million. The dividend was paid on October 14, 2016 to shareholders of
    record on October 3, 2016.
    --  During the fourth quarter 2016, TeleTech repurchased approximately 607
    thousand shares of common stock for a total cost of $17.4 million. For
    full year 2016, TeleTech repurchased nearly 2.7 million shares of common
    stock for a total cost of $74.7 million. As of December 31, 2016, $19.9
    million was authorized for future share repurchases. As of March 7,
    2017, TeleTech had approximately $37.6 million authorized for future
    share repurchases, which reflects an additional $25 million authorized
    by the Board of Directors on February 23, 2017.
    

    SEGMENT REPORTING & COMMENTARY

    TeleTech reports financial results for the following four business segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS). Financial highlights for the segments are provided below.

    Customer Management Services (CMS) - Customer Experience Delivery Solutions

    --  CMS fourth quarter 2016 revenue increased 9.1 percent to $259.9 million
    compared to $238.3 million in the year ago quarter. Organic revenue grew
    4.9 percent year-over-year. Income from operations was $14.4 million or
    5.5 percent of revenue compared to $14.1 million or 5.9 percent of
    revenue in the prior year. Organic operating margin was 5.9 percent.
    --  Non-GAAP constant currency revenue grew 9.5 percent over the year ago
    period and income from operations was $23.6 million or 9.1 percent of
    adjusted revenue. This compares to $16.4 million or 6.9 percent of
    revenue in the prior year. Non-GAAP organic constant currency revenue
    grew 5.3 percent and non-GAAP organic constant currency operating margin
    was 9.6 percent.
    

    Customer Growth Services (CGS) - Digitally-Enabled Revenue Growth Solutions

    --  CGS fourth quarter 2016 revenue declined 8.7 percent to $35.3 million
    compared to $38.6 million in the year ago quarter. Income from
    operations was $2.8 million or 8.0 percent of revenue, compared to $1.2
    million, or 3.1 percent of revenue in the prior year.
    --  Non-GAAP constant currency revenue declined 8.7 percent over the year
    ago period and income from operations was $2.8 million or 8.0 percent of
    adjusted revenue. This compares to $4.1 million or 10.6 percent of
    revenue in the prior year.
    

    Customer Technology Services (CTS) - Hosted and Managed Technology Solutions

    --  CTS fourth quarter 2016 revenue declined 23.1 percent to $32.1 million
    compared to $41.7 million in the year ago quarter. Loss from operations
    was $9.0 million or negative 28.1 percent of revenue compared to income
    from operations of $4.3 million or 10.3 percent of revenue in the prior
    year.
    --  Non-GAAP constant currency revenue declined 23.0 percent over the year
    ago period and income from operations was $2.3 million or 7.2 percent of
    adjusted revenue. This compares to $4.3 million or 10.3 percent of
    revenue in the prior year.
    

    Customer Strategy Services (CSS) - Customer Experience Strategy and Data Analytics Solutions

    --  CSS fourth quarter 2016 revenue declined 24.0 percent to $17.7 million
    from $23.2 million in the year ago quarter. Loss from operations was
    $1.9 million or negative 11.0 percent of revenue compared to income from
    operations of $5.5 million or 23.8 percent of revenue in the prior year.
    --  Non-GAAP constant currency revenue declined 22.1 percent over the year
    ago period and income from operations was $0.9 million or 5.1 percent of
    adjusted revenue. This compares to $5.5 million or 23.8 percent of
    revenue in the prior year.
    

    BUSINESS OUTLOOK

    "Our challenges in 2016 were not related to the relevancy of our strategy or market demand, nor our solution portfolio or operational delivery. They were related to our sales execution," mentioned Regina Paolillo, chief financial and administrative officer of TeleTech. "We realized that in order to reverse the declining trend in our financial performance we needed to optimize our sales and marketing investment, narrow our priorities, and increase our profitability. And we moved with speed. As a result, we improved our normalized, constant currency operating margin just under 190 basis points from 5.5 percent in the first half of 2016 to 7.4 percent in the second half."

    On a GAAP basis, we anticipate TeleTech's full year 2017 guidance as follows (excluding assets being exited, representing $20 million of revenue and breakeven operating income):

    --  Revenue - GAAP revenue estimated to increase six to seven percent
    between $1.315 and $1.325 billion, reflecting an approximate 150 basis
    point adverse impact from foreign exchange rate movements.
    --  Operating Income Margin - GAAP operating income margin estimated to a
    range between 8.1 and 8.3 percent, reflecting no adverse impact from
    foreign exchange movements.
    --  Capital Expenditures - We are maintaining our capital expenditure
    guidance at 4.2 percent of revenue, of which approximately 65 percent is
    growth oriented.
    

    SEC FILINGS

    The Company plans to file its Annual Report on Form 10-K for the period ending December 31, 2016 with the U.S. Securities and Exchange Commission no later than March 16, 2017, and based on currently available information, does not expect the final results to be materially different.

    The Company's filings with the Securities and Exchange Commission are available in the "Investors" section of TeleTech's website, which can be found at www.teletech.com.

    CONFERENCE CALL

    A conference call and webcast with management will be held on March 9, 2017 at 8:30 a.m. Eastern Time. You are invited to join a live webcast of the conference call by visiting the "Investors" section of the TeleTech website at www.teletech.com. If you are unable to participate during the live webcast, a replay will be available on the TeleTech website.

    NON-GAAP FINANCIAL MEASURES

    To supplement the Company's consolidated financial statements presented in accordance with generally accepted accounting principles (GAAP) in the United States, the Company uses the following Non-GAAP financial measures: Free Cash Flow, Non-GAAP Revenue, Non-GAAP Income from Operations, Non-GAAP EBITDA and Non-GAAP EPS. Additionally our discussion of revenue and income from operations contain references to constant currency amounts. Constant currency measures are calculated by translating the current year reported amounts using the prior year foreign exchange rates for each underlying currency. TeleTech believes that providing these Non-GAAP financial measures provides investors with greater transparency to the information used by TeleTech's management in its financial and operational decision making and allows investors to see TeleTech's results "through the eyes" of management. TeleTech also believes that providing this information better enables TeleTech's investors to understand its operating performance and information used by management to evaluate and measure such performance. These financial measures are not intended to be used in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. A reconciliation of these Non-GAAP financial measures is available in the financial tables attached to this press release. We also encourage all investors to read TeleTech's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

    ABOUT TELETECH

    TeleTech is a leading global provider of customer experience, engagement and growth solutions. Founded in 1982, the Company helps its clients acquire, retain and grow profitable customer relationships. Using customer-centric strategy, technology, processes and operations, TeleTech partners with business leadership across marketing, sales and customer care to design and deliver a simple, more human customer experience across every interaction channel. TeleTech's 48,000 employees live by a set of customer-focused values that guide relationships with clients, their customers, and each other. To learn more about how TeleTech is bringing humanity to the customer experience, visit TeleTech.com.

    FORWARD-LOOKING STATEMENTS

    Statements in this press release contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, relating to our operations, expected financial position, results of operation, continuation of client relationships, and other business matters that are based on our current expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance. We use words such as "may," "believe," "plan," "will," "anticipate," "estimate," "expect," "intend," "project," "would," "could," "target," or similar expressions, or when we discuss our strategy, plans, goals, initiatives, or objectives, we are making forward-looking statements.

    We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from what is expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties and other factors that affect our business and may cause such differences as outlined but are not limited to factors discussed in the sections entitled "Risk Factors" included in TeleTech's filings with the US Securities and Exchange Commission (the "SEC"), including our most recent Annual Report on Form 10-K and subsequent quarterly financial reports on Form 10-Q. TeleTech's filings with the SEC are available in the "Investors" section of TeleTech's website, www.teletech.com and at the SEC's public website at www.sec.gov. Our forward looking statements speak only as of the date of the press release and we undertake no obligation to update them, except as may be required by applicable laws.

    Investor Contact Media Contact Paul Miller Olivia Griner 303.397.8641 303.397.8999

    TELETECH HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Three months ended Twelve months ended December 31, December 31, ------------ ------------ 2016 2015 2016 2015 ---- ---- ---- ---- Revenue $344,947 $341,816 $1,275,258 $1,286,755 Operating Expenses: Cost of services 249,943 245,668 941,592 928,247 Selling, general and administrative 44,895 48,575 175,797 194,606 Depreciation and amortization 16,914 17,279 68,675 63,808 Restructuring charges, net 502 185 4,392 1,814 Impairment losses 26,448 5,034 32,050 8,100 Total operating expenses 338,702 316,741 1,222,506 1,196,575 ------- ------- --------- --------- Income From Operations 6,245 25,075 52,752 90,180 Other income (expense) 290 (590) (2,454) (4,291) Income Before Income Taxes 6,535 24,485 50,298 85,889 Provision for income taxes (6,196) (6,566) (12,863) (20,004) Net Income 339 17,919 37,435 65,885 Net income attributable to noncontrolling interest (953) (916) (3,757) (4,219) ----------- Net (Loss) Income Attributable to TeleTech Stockholders $(614) $17,003 $33,678 $61,666 ===== ======= ======= ======= Net (Loss) Income Per Share Attributable to TeleTech Stockholders Basic $(0.01) $0.35 $0.71 $1.27 Diluted $(0.01) $0.35 $0.71 $1.26 Income From Operations Margin 1.8% 7.3% 4.1% 7.0% Net (Loss) Income Attributable to TeleTech Stockholders Margin (0.2)% 5.0% 2.6% 4.8% Effective Tax Rate 94.8% 26.8% 25.6% 23.3% Weighted Average Shares Outstanding Basic 46,386 48,439 47,423 48,370 Diluted 46,677 48,853 47,736 49,011

    TELETECH HOLDINGS, INC. AND SUBSIDIARIES SEGMENT INFORMATION (In thousands) Three months ended Twelve months ended December 31, December 31, ------------ ------------ 2016 2015 2016 2015 ---- ---- ---- ---- Revenue: Customer Management Services $259,933 $238,257 $924,325 $913,272 Customer Growth Services 35,292 38,642 141,005 129,021 Customer Technology Services 32,056 41,671 141,254 157,606 Customer Strategy Services 17,666 23,246 68,674 86,856 Total $344,947 $341,816 $1,275,258 $1,286,755 ======== ======== ========== ========== Income (Loss) From Operations: Customer Management Services $14,352 $14,062 $50,541 $58,018 Customer Growth Services 2,831 1,186 6,969 3,077 Customer Technology Services (8,999) 4,306 933 13,339 Customer Strategy Services (1,939) 5,521 (5,691) 15,746 Total $6,245 $25,075 $52,752 $90,180 ====== ======= ======= =======

    TELETECH HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands) December 31, December 31, 2016 2015 ---- ---- ASSETS Current assets: Cash and cash equivalents $55,264 $60,304 Accounts receivable, net 300,808 283,474 Other current assets 66,940 71,294 Assets held for sale 10,715 - ------ --- Total current assets 433,727 415,072 Property and equipment, net 151,037 168,289 Other assets 261,540 259,966 ------- ------- Total assets $846,304 $843,327 ======== ======== LIABILITIES AND EQUITY Total current liabilities $178,672 $206,906 Liabilities held for sale 1,357 - Other long- term liabilities 304,380 191,473 Mandatorily redeemable noncontrolling interest - 4,131 Total equity 361,895 440,817 ------- ------- Total liabilities and equity $846,304 $843,327 ======== ========

    TELETECH HOLDINGS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION (In thousands, except per share data) Three months ended Twelve months ended December 31, December 31, ------------ ------------ 2016 2015 2016 2015 ---- ---- ---- ---- Reconciliation of Revenue: Revenue $344,947 $341,816 $1,275,258 $1,286,755 Changes due to foreign currency fluctuations 1 1,452 20,210 Non-GAAP Revenue $346,399 $341,816 $1,295,468 $1,286,755 -------- -------- ---------- ---------- Reconciliation of EBIT & EBITDA: Net Income Attributable to TeleTech stockholders $(614) $17,003 $33,678 $61,666 Interest income (408) (213) (1,234) (1,090) Interest expense 2,185 1,827 7,943 7,538 Provision for income taxes 6,196 6,566 12,863 20,004 ----- ----- ------ ------ EBIT $7,359 $25,183 $53,250 $88,118 Depreciation and amortization 16,914 17,279 68,675 63,808 ------ ------ ------ ------ EBITDA $24,273 $42,462 $121,925 $151,926 Reconciliation of Free Cash Flow: Cash Flow From Operating Activities: Net income $339 $17,919 $37,435 $65,885 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 16,914 17,279 68,675 63,808 Other (16,504) (17,612) 1,785 4,057 ------- ------- ----- ----- Net cash provided by operating activities 749 17,586 107,895 133,750 Less - Total Capital Expenditures 11,969 17,411 50,832 66,595 ------ ------ ------ ------ Free Cash Flow $(11,220) $175 $57,063 $67,155 Reconciliation of Non-GAAP Income from Operations: Income from Operations $6,245 $25,075 $52,752 $90,180 Restructuring charges, net 502 185 4,392 1,814 Impairment losses 26,448 5,034 32,050 8,100 ------ ----- ------ ----- Non-GAAP Income from Operations $33,195 $30,294 $89,194 $100,094 Non-GAAP Income from Operations Margin 9.6% 8.9% 7.0% 7.8% Reconciliation of Non-GAAP EPS: Net Income Attributable to TeleTech stockholders $(614) $17,003 $33,678 $61,666 Add: Asset impairment and restructuring charges, net of related taxes 18,479 3,828 26,190 6,629 Add: Changes in acquisition contingent consideration, net of related taxes (118) 208 (4,553) 313 Add: Estimated loss on assets held for sale, net of related taxes - - 4,208 - Add: Changes in valuation allowance and returns to provision adjustments 1,720 2,110 3,623 3,868 ----- ----- ----- ----- Non-GAAP Net Income Attributable to TeleTech stockholders $19,467 $23,149 $63,146 $72,476 Diluted shares outstanding 46,677 48,853 47,736 49,011 Non-GAAP EPS Attributable to TeleTech stockholders $0.42 $0.47 $1.32 $1.48 Reconciliation of Non-GAAP EBITDA: Net Income Attributable to TeleTech stockholders $(614) $17,003 $33,678 $61,666 Interest income (408) (213) (1,234) (1,090) Interest expense 2,185 1,827 7,943 7,538 Provision for income taxes 6,196 6,566 12,863 20,004 Depreciation and amortization 16,914 17,279 68,675 63,808 Asset impairment and restructuring charges 26,950 5,219 36,442 9,914 Changes in acquisition contingent consideration (199) (278) (4,766) 26 Estimated loss of assets held for sale - - 5,300 - Equity-based compensation expenses 2,495 2,735 9,773 11,304 ----- ----- ----- ------ Non-GAAP EBITDA $53,519 $50,138 $168,674 $173,170

    (1) Foreign currency fluctuations are calculated on a constant currency basis by translating the current year reported amounts using the prior year foreign exchange rates for each underlying currency.

    TELETECH HOLDINGS, INC. Foreign Exchange Impact - Non-GAAP Reconciliation & Year-over-Year (YoY) Growth Rate Comparison U.S. Dollars in Thousands FOURTH QUARTER (three months end, Dec 31, 2016) ------------------------------- Revenue GAAP Revenue Non-GAAP Non-GAAP Foreign Exchange Non-GAAP Constant Adjustments Revenue Impact Currency Revenue ----------- ------- ------ ---------------- CMS $259,933 $ - $259,933 $991 $260,924 YoY Growth Rate: 9.1% 9.1% 9.5% ---------------- --- --- --- CGS $35,292 $ - $35,292 $3 $35,295 YoY Growth Rate: -8.7% -8.7% -8.7% ----- CTS $32,056 $ - $32,056 $16 $32,072 YoY Growth Rate: -23.1% -23.1% -23.0% ------ CSS $17,666 $ - $17,666 $442 $18,108 YoY Growth Rate: -24.0% -24.0% -22.1% ---------------- ----- ----- ----- Emerging Businesses $85,014 $ - $85,014 $461 $85,475 YoY Growth Rate: -17.9% -17.9% -17.5% ---------------- ----- ----- ----- Company (Consolidated) $344,947 $ - $344,947 $1,452 $346,399 YoY Growth Rate: 0.9% 0.9% 1.3% ---------------- --- --- --- Operating Income GAAP Operating Non-GAAP Non-GAAP Foreign Exchange Non-GAAP Constant Income Operating Income Operating Income Impact Currency Operating Adjustments Income ----------- ------ CMS $14,352 $12,598 $26,950 $(3,327) $23,623 Operating Margin: 5.5% 10.4% 9.1% ----------------- --- ---- --- CGS $2,831 $39 $2,870 $(39) $2,831 Operating Margin: 8.0% 8.1% 8.0% ---- CTS $(8,999) $11,338 $2,339 $(28) $2,311 Operating Margin: -28.1% 7.3% 7.2% ------ CSS $(1,939) $2,975 $1,036 $(110) $926 Operating Margin: -11.0% 5.9% 5.1% ----------------- ----- --- --- Emerging Businesses $(8,107) $14,352 $6,245 $(177) $6,068 Operating Margin: -9.5% 7.3% 7.1% ----------------- ---- --- --- Company $6,245 $26,950 $33,195 $(3,504) $29,691 Operating Margin: 1.8% 9.6% 8.6% ----------------- --- --- ---

    Segments Defined: CMS (Customer Management Services), CGS (Customer Growth Services), CTS (Customer Technology Services), CSS (Customer Strategy Services) Emerging Business: CGS, CTS, and CSS --------- Currency-Neutral Methodology: Constant currency adjustments translate the current period reported amounts using the prior year FX rates, which in turn shows the underlying financial performance of the company as if foreign exchange rates did not change.This methodology also provides greater transparency to the information actually used by management in its financial and operational decision making. Non-GAAP Operating Income: Adjusted for restructuring and impairment costs

    TELETECH HOLDINGS, INC. Foreign Exchange Impact - Non-GAAP Reconciliation & Year-over-Year (YoY) Growth Rate Comparison U.S. Dollars in Thousands YTD FY16 (twelve months end, Dec 31, 2016) -------------------------------- Revenue GAAP Revenue Non-GAAP Non-GAAP Revenue Foreign Exchange Non-GAAP Constant Impact Currency Revenue Adjustments ----------- CMS $924,325 $ - $924,325 $17,674 $941,999 YoY Growth Rate: 1.2% 1.2% 3.1% ---------------- --- --- --- CGS $141,005 $ - $141,005 $1,306 $142,311 YoY Growth Rate: 9.3% 9.3% 10.3% ---- CTS $141,254 $ - $141,254 $41 $141,295 YoY Growth Rate: -10.4% -10.4% -10.4% ------ CSS $68,674 $ - $68,674 $1,189 $69,863 YoY Growth Rate: -20.9% -20.9% -19.6% ---------------- ----- ----- ----- Emerging Businesses $350,933 $ - $350,933 $2,536 $353,469 YoY Growth Rate: -6.0% -6.0% -5.4% ---------------- ---- ---- ---- Company (Consolidated) $1,275,258 $ - $1,275,258 $20,210 $1,295,468 YoY Growth Rate: -0.9% -0.9% 0.7% ---------------- ---- ---- --- Operating Income GAAP Operating Non-GAAP Non-GAAP Operating Foreign Exchange Non-GAAP Constant Income Adjustments Income Impact Currency Operating Income ------ CMS $50,541 $16,273 $66,814 $(5,770) $61,044 Operating Margin: 5.5% 7.2% 6.5% ----------------- --- --- --- CGS $6,969 $147 $7,116 $282 $7,398 Operating Margin: 4.9% 5.0% 5.2% ---- CTS $933 $12,425 $13,358 $(170) $13,188 Operating Margin: 0.7% 9.5% 9.3% ---- CSS $(5,691) $7,597 $1,906 $(194) $1,712 Operating Margin: -8.3% 2.8% 2.4% ----------------- ---- --- --- Emerging Businesses $2,211 $20,169 $22,380 $(82) $22,298 Operating Margin: 0.6% 6.4% 6.3% ----------------- --- --- --- Company $52,752 $36,442 $89,194 $(5,852) $83,342 Operating Margin: 4.1% 7.0% 6.4% ----------------- --- --- ---

    Segments Defined: CMS (Customer Management Services), CGS (Customer Growth Services), CTS (Customer Technology Services), CSS (Customer Strategy Services) Emerging Business: CGS, CTS, and CSS ------------------- Currency-Neutral Methodology: Constant currency adjustments translate the current period reported amounts using the prior year FX rates, which in turn shows the underlying financial performance of the company as if foreign exchange rates did not change.This methodology also provides greater transparency to the information actually used by management in its financial and operational decision making. Non-GAAP Operating Income: Adjusted for restructuring and impairment costs

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/teletech-announces-fourth-quarter-and-full-year-2016-financial-results-300420717.html

    Photo: http://mma.prnewswire.com/media/127860/teletech_logo.jpg TeleTech Holdings, Inc.

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




    MDA to provide RADARSAT-2 information for maritime surveillance

    VANCOUVER, March 8, 2017 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") , a global communications and information company, today announced that it has signed three contracts with a total approximate value of CA$2.5 million with Satellite Applications Catapult Ltd. MDA will use imaging capabilities from the RADARSAT-2 satellite to provide information on maritime surveillance and the detection of Illegal, Unreported and Unregulated (IUU) fishing vessels. This information is integrated into other data and shared with government and non-government agencies to monitor fishing activities in remote regions.

    MDA's RADARSAT-2 information is ideal for matching satellite radar-based ship detection to vessel tracking services to locate illegal fishing vessels, in order to protect national interests and preserve valuable fish stocks. The information also supports detecting and highlighting suspicious inbound vessels or those transiting territorial waters, for investigation or interdiction. Accurate detection and tracking enables efficient queuing of patrol assets to intercept targets while minimizing valuable resources and fuel usage.

    The RADARSAT-2 satellite has global high-resolution surveillance capabilities that include a large collection capacity and high accuracy data acquisition. The satellite acquires data regardless of light or weather conditions, and provides frequent re-visit imaging options. The information provided is ideally suited to markets that require either broad-area monitoring or targeted surveillance, such as maritime surveillance, defence and security, land use management, agriculture, disaster management, and natural resources.

    About MDA

    MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.

    MDA's business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.

    MDA's established global customer base is served by more than 4,800 employees operating from 15 locations in the United States, Canada, and internationally.

    The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."

    Related Websites
    www.mdacorporation.com

    Forward-Looking Statements

    This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of certain contracts. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: risks associated with operating a satellite including in-orbit failures or impaired satellite performance; failure of third parties and subcontractors; failure of systems to meet performance requirements; and failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards.

    For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com.

    The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.

    Contact

    Wendy Keyzer | MDA Media Contact | 1-604-231-2743 | wendy@mdacorporation.com

    Marissa Poratto | MDA Investor Relations | 1-604-331-2044 | mporatto@mdalimited.ca

    MacDonald, Dettwiler and Associates Ltd.

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




    Ooma to Present at Sidoti Conference

    PALO ALTO, Calif., March 8, 2017 /PRNewswire/ -- Ooma, Inc. , a smart communications platform for small businesses and consumers, today announced that its management team will present at the Spring 2017 Sidoti Conference on Wednesday, March 29 at 9:15 am ET in New York, NY.

    The presentation will be webcast live and archived on Ooma's investor relations website at http://investors.ooma.com/. The replay of the presentation will be available on the website for at least 30 days.

    About Ooma, Inc.

    Founded in 2004, Ooma creates new communications experiences for small businesses and consumers. Its smart platform serves as a communications hub, which offers cloud-based telephony, internet security, home security and other connected services. Ooma combines PureVoice HD call quality and innovative features with mobile applications for reliable anytime, anywhere calling. The company has been ranked the No. 1 home phone service for overall satisfaction and value for five consecutive years by the leading consumer research publication. Ooma is also partnering with connected device makers to create smarter offices and homes. Ooma is available from leading retailers including Amazon, Best Buy, Costco and Walmart. For more information about Ooma, please visit www.ooma.com or follow us on Twitter, LinkedIn or Facebook.

    Ooma, PureVoice and the Ooma logo are trademarks of Ooma, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ooma-to-present-at-sidoti-conference-300418951.html

    Ooma, Inc.

    CONTACT: Investor Relations: Cynthia Hiponia or Erin Rheaume, The
    Blueshirt Group for Ooma, Inc., ir@ooma.com, (650) 300-1480; Public
    Relations: Brian Jaquet, Ooma, Inc., Brian.Jaquet@ooma.com, (650) 300-2125

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




    Telecom Argentina S.A. announces consolidated results for the annual period ('FY16') and fourth quarter for fiscal year 2016 ('4Q16')

    BUENOS AIRES, Argentina, March 8, 2017 /PRNewswire/ --

    --  Consolidated Revenues amounted to P$53,240 million (+31.5% vs. FY15);
    Fixed Data +64.0% vs. FY15; Fixed Internet +31.6% vs. FY15; and Mobile
    business in Argentina +26.8% vs. FY15.
    --  Mobile subscribers in Argentina reached 19.5 million in FY16.
    --  Mobile Value Added Services in Argentina (Internet and Data): +30.3% vs.
    FY15; 62.3% of Service Revenues.
    --  Mobile ARPU in Argentina increased to P$112.3 per month in FY16 (+22.7%
    vs. FY15).
    --  ADSL ARPU increased to P$270.9 per month in FY16 (+30.6% vs. FY15);
    monthly churn reached 1.7% in FY16.
    --  Consolidated Operating costs -including D&A and Results on write-down of
    PP&E- totaled P$45,480 million (+32.6% vs. FY15).
    --  Operating Income Before Depreciation and Amortization reached P$14,424
    million (+32.7% vs. FY15), 27.1% of consolidated revenues, continuing
    with the improvement in margins. In 4Q16 EBITDA margin represented 29.2%
    vs. 26.9% in 4Q15.
    --  Net Income amounted to P$4,005 million (+16.6% vs. FY15). Net Income
    attributable to Telecom Argentina amounted to P$3,975 million (+16.8%
    vs. FY15). Net Income was influenced by higher depreciation and
    amortization costs due to higher Capex.
    --  Capex increased to P$11,386 million in FY16 (+45.2% vs. FY15, excluding
    the spectrum payment performed in 2Q15), equivalent to 21.4% of
    Consolidated Revenues.
    --  Net Financial Debt: P$5,892 million, an increase of P$3,615 million vs.
    FY15, after Telecom Argentina's cash dividend distribution during 2016
    and higher payments of Capex.
    

    (in million P$, except where noted) As of December, 31 2016 2015 $ % Consolidated Revenues 53,240 40,496 12,744 31.5% Mobile Services 38,226 29,760 8,466 28.4% Fixed Services 15,014 10,736 4,278 39.8% Operating Income before D&A 14,424 10,866 3,558 32.7% Operating Income 7,843 6,229 1,614 25.9% Net Income attributable to Telecom Argentina 3,975 3,403 572 16.8% Shareholders' equity attributable to Telecom Argentina 19,336 17,194 2,142 12.5% Net Financial Position - (Debt) / Cash (5,892) (2,277) (3,615) 158.8% CAPEX (excluding spectrum) 11,386 7,844 3,542 45.2% Fixed lines in service (in thousand lines) 3,920 4,043 (123) -3.0% Mobile customers (in thousand) 22,052 22,201 (149) -0.7% Personal (Argentina) 19,514 19,656 (142) -0.7% Nucleo (Paraguay) -including Wimax customers- 2,538 2,546 (8) -0.3% Broadband accesses (in thousand) 1,738 1,814 (76) -4.2% Average Billing per user (ARBU) Fixed Telephony / voice (in P$) 97.9 67.7 30.2 44.6% Average Revenue per user (ARPU) Mobile Services in Arg. (in P$) 112.3 91.5 20.8 22.7% Average Revenue per user (ARPU) ADSL (in P$) 270.9 207.4 63.5 30.6%

    Telecom Argentina ('Telecom') - , one of Argentina's leading telecommunications companies, announced today a Net Income of P$4,005 million for the annual period ended December 31, 2016, or +16.6% when compared to FY15. Net income attributable to Telecom Argentina amounted to P$3,975 million (+16.8% vs. FY15).

    During FY16, Consolidated Revenues increased by 31.5% to P$53,240 million (+P$12,744 million vs. FY15), mainly fueled by the Fixed Data and Broadband businesses and Mobile Services. Moreover, Operating Income reached P$7,843 million (+P$1,614 million or +25.9% vs. FY15).

    Consolidated Operating Revenues

    Mobile Services

    As of December 31, 2016 clients with mobile services amounted to 22.1 million vs. 22.2 million as of FY15.

    Third parties Revenues amounted to P$38,226 million (+28.4% vs. FY15) as a result of the strategy that promotes the use of mobile internet through a wide offer of 4G devices together with plans with higher volumes of data.

    Telecom Personal in Argentina

    As of December 31, 2016, Personal reached approximately 19.5 million subscribers in Argentina. Postpaid clients remain stable representing 33% of the subscriber base.

    In FY16, third parties Revenues reached P$35,584 million (+P$7,530 million or +26.8% vs. FY15) while Service Revenues (excluding sales of equipment and devices) amounted to P$28,049 million (+26.0% vs. FY15), with 62.3% corresponding to VAS revenues (vs. 60.2% in FY15). VAS revenues amounted to P$17,468 million (+30.3% vs. FY15). Moreover, handset sales reached P$7,535 million, an increase of +30.0% vs. FY15, equivalent to 21.2% of total revenues.

    Due to a higher consumption of VAS, the average monthly revenue per user ('ARPU') amounted to P$112.3 during FY16 (+22.7% vs. FY15) due to higher data consumption.

    Commercial Initiatives

    In terms of infrastructure during the quarter, the Company continued with the evolution of services through the deployment of the Personal 4G/LTE network at an unprecedented rhythm of execution. By the end of 2016, Personal reached 759 locations with coverage, where every provincial capitals and the AMBA region were covered. Together with this, an innovative work of digital radio link was inaugurated: the 4G Personal Service in La Quiaca, that allowed to connect La Quebrada de Humahuaca with broadband internet.

    With the aim to promote the 4G experience among prepaid clients', Personal launched a disruptive offer that allows, through the activation of internet on a daily basis, the unlimited usage of the instant messenger service 'Whatsapp'.

    At the same time, Personal continued to promote the upgrade of devices with discounts and special financing plans, such as the offer presented during Mothers' Day and the launch of new innovative handsets.

    As part of the actions associated to youth, Personal and Huawei presented the 'Personal Fest 2016', the most important music festival of Argentina, where 47.000 people enjoyed during 2 days music and outdoor entertainment, while more than 700.000 followed it via streaming.

    Also, with the aim of supporting the technological and innovative developments that are performed in the country, the Telecom Group was the technological provider of 'Campus Party' (Meeting of innovation, science, creativity and digital entrepreneurship).

    Telecom Personal in Paraguay ('Nucleo')

    As of December 31, 2016, Nucleo's subscriber base surpassed 2.5 million clients. Prepaid and postpaid customers represented 82% and 18%, respectively.

    Nucleo generated revenues from third parties equivalent to P$2,642 million during FY16 (+54.9% vs. FY15). Value Added Services ("VAS") revenues amounted to P$1,407 million (+59.9% vs. FY15) representing 59.1% of FY16 service revenues (vs. 56.9% in FY15). The evolution of Nucleo's sales measured in pesos was influenced by the appreciation of the Guarani with respect to the Peso.

    Fixed Services (Voice, Data & Internet)

    During FY16, revenues generated by fixed services amounted to P$15,014 million, +39.8% vs. FY15; with Data revenues (+64.0% vs. FY15) and Internet (+31.6% vs. FY15) growing the most in the segment.

    Voice

    Total service revenues reached P$6,010 million in FY16 (+38.5% vs. FY15). This increase combines price increases in the corporate segment in February and September 2016 as well as in the retail segment, which became effective as of May 2016.

    As a result of these increases, the average monthly revenue billed per user ('ARBU') reached P$97.9 in FY16, +44.6% vs. FY15.

    Revenues generated by measured services totaled P$2,073 million, an increase of P$273 million or +15.2% vs. FY15 mainly due to a higher penetration of convergent plans that include domestic calls to fixed lines and mobile customers of Personal's.

    Monthly charges and supplementary services reached P$2,480 million, an increase of P$1,074 million or +76.4% vs. FY15 due to the above mentioned price increases.

    Fixed and mobile interconnection revenues amounted to P$845 million (+22.6% vs. FY15). Meanwhile, other revenues totaled P$612 million (+37.8% vs. FY15). Both revenue lines were affected by price increases in rental of spaces and links, related to the FX variation as these services are denominated in foreign currency.

    Data and Internet

    Data service revenues (services mainly offered to the Corporate and Government segments) amounted to P$2,919 million (+P$1,139 million or +64.0% vs. FY15), gaining weight over total revenues of the fixed service and strengthening the position of Telecom as an integrated ICT provider (Datacenter, VPN, among others). This increase was mainly due to the FX rate variations that affected these contracts that are adjusted by the $/U$S exchange rate.

    In line with the convergent proposal of services and positioning Telecom as a business solutions provider, an offer that combines connectivity and mobility together with domestic calls to fixed lines and mobile customers of Personal for the corporate segment was launched.

    In parallel, Telecom and Microstrategy (a leading Company in Business Intelligence for all Companies and industries in the market) reached an agreement to offer Business Intelligence services housed at 'Telecom's Cloud'. This solution offers the possibility to hire the service without investing in IT infrastructure and software licenses through the Cloud modality.

    Internet Service revenues totaled P$5,994 million (+P$1,438 million or +31.6% vs. FY15), mainly due to a commercial offer with higher speeds, where 6Mb and 10Mb lead the clients' preference. In addition, 10Mb or Ultrabroadband (UBB) subscriber base reached 36% of the customer base vs. 27% in FY15.

    As of December 31, 2016, the subscriber base amounted to 1.7 million ADSL accesses representing 44.3% of Telecom's fixed lines in service. In addition, ADSL ARPU reached P$270.9 in FY16, +30.6% when compared to FY15.

    Positioning the Company as an integrated service operator, the first convergent offer was presented, with Arnet at home and Personal in mobility, with the aim of satisfying the connectivity needs of the entire family. The proposal includes, apart from fixed and mobile broadband, unlimited calls to fixed lines and mobile customers of Personal throughout the country.

    Consolidated Operating Costs

    Consolidated Operating Costs totaled P$45,480 million in FY16, an increase of P$11,169 million, or +32.6% vs. FY15 (including 'Results of write-down of PP&E' that resulted in a loss of P$383 million in FY16 vs. a loss of P$199 million in FY15). This increase in costs is mainly due to higher sales, the effect of a highly competitive environment in mobile and Internet business, the impact of higher direct and indirect labor costs, the increase in fees for services related to the suppliers' price adjustment, and the increase in cost of handsets sold, among other cost items.

    The cost breakdown is as follows:

    - Employee benefit expenses and severance payments totaled P$9,800 million (+35.1% vs. FY15), mainly affected by increases in salaries to unionized as well as non-unionized employees together with the social security contributions associated to the collective bargaining agreement set as of July 2016. Total employees at the end of the period amounted to 15,970.

    - Interconnection costs and other telecommunication charges (including TLRD, Roaming, Interconnection, international settlement charges and lease of circuits) amounted to P$2,553 million, +17.6% vs. FY15. This increase resulted from a higher volume of traffic in international outbound calls together with costs related to TLRD and roaming.

    - Fees for services, maintenance, materials and supplies amounted to P$5,006 million (+27.7% vs. FY15), mainly due to costs' increases as a consequence of FX variation in costs in foreign currency as well as costs in pesos due to higher costs recognized to suppliers.

    - Taxes and fees with regulatory authorities reached P$5,125 million (+30.0% vs. FY15), impacted mainly by higher revenues as well as higher bank debit and credit taxes related to collection flows and suppliers payments and dividends paid during FY16 vs. FY15.

    - Commissions (Commissions paid to agents, prepaid card commissions and others) totaled P$3,849 million (+20.5% vs. FY15), as a result of the increase in commissions paid to commercial channels as well as collection fees, both associated to the increase in handset sales. Agent commissions capitalized as SAC amounted to P$1,403 million (+19.7% vs. FY15).

    - Cost of handsets sold totaled P$6,188 million (+34.7% vs. FY15), due to handsets sales with higher unit cost. Deferred costs from SAC amounted to P$130 million (+39.8% vs. FY15).

    - Advertising amounted to P$874 million (+7.4% vs. FY15) due to campaigns performed by Personal with the aim of promoting 4G services in the country.

    - Depreciation and Amortization reached P$6,198 million (+39.7% vs. FY15). PP&E depreciation amounted to P$4,358 million (+42.7% vs. FY15) resulting from the incorporation of assets related to the investment plan that the Group has been executing; amortization of SAC and service connection costs totaled P$1,474 million (+41.1% vs. FY15) meanwhile, amortization of 3G/4G licenses amounted P$338 million (+4.3% vs. FY15) and amortization of other intangible assets reached P$28 million (+21.7% vs. FY15).

    - Other Costs totaled P$5,504 million (+45.3% vs. FY15). This increase was mainly due to VAS costs that totaled P$1,499 million (+19.3% vs. FY15), related to the increase of sales of those services, mainly in the mobile segment. Bad debt expenses reached P$1,228 million (+117.7% vs. FY15) mainly influenced by the financing plans for the sale of handsets in the mobile business. Bad debt expenses represented 2.7% of consolidated costs and 2.3% of consolidated revenues.

    Consolidated Financial Results

    Net Financial Results amounted to a loss of P$2,244 million, a variation of P$1,142 million vs. FY15. This was mainly due to a higher debt position that generated higher losses in net financial interests of P$1,483 million in FY16 (-P$957 million vs. FY15) and losses of FX results net of NDF instruments for P$1,055 million in FY16 (vs. a loss of P$1,140 million in FY15) mainly due to the peso depreciation that occurred in December 2015. Meanwhile, gains on mutual funds and other investments amounted to P$348 million (-P$253 million vs. FY15).

    Consolidated Net Financial Position

    As of December 31, 2016, Net Financial Position (Cash, Cash Equivalents and financial Investments minus Loans) resulted in a Debt Position of P$5,892 million, a variation of P$3,615 million when compared to the Net Financial Position as of December 31, 2015, after the cash dividend payment of Telecom Argentina for an amount of P$2,000 million distributed in May 2016 (P$700 million) and in August 2016 (P$1,300 million) and higher payments of capex.

    Capital Expenditures

    During FY16, the Company invested P$11,386 million (+45.2% vs. FY15 without considering the spectrum payment of P$2,256 million occurred in 2Q15). Of this amount, P$4,017 million was allocated to Fixed Services and P$7,369 million to Mobile services, focusing on improving network capacity with the aim of enhancing the customer experience and quality of the current and future services. In relative terms, Capex reached 21.4% of consolidated revenues vs. 19.4% in FY15 without considering the payment of 4G licenses that was made during 2015.

    The principal investments of the Group are oriented to improve service quality and coverage. The constant investments in technology is one of the main key strategic pillars and are specifically focused on the coverage and capacity of the infrastructure and new service platforms to serve the increasing level of traffic and bandwidth generated by the consumption behavior of the customer base. Moreover, in the mobile business, Personal continued with the network deployment with 4G technology in the country, covering all the capital provinces, reaching 85% of coverage of population in those cities.

    Relevant Matters

    Loan with the International Finance Corporation (IFC)

    On October 6, 2016 Personal and the IFC signed a loan agreement for an amount of U$S 400 million and for a six year period, payable in 8 equal half-yearly installments commencing on the 30th month, at a 6 month LIBO rate plus 400bp spread. This loan was used to deploy the 4G network and refinance short-term debt.

    On October 26, 2016 Personal received the loan proceeds for an amount of U$S 392.5 million, net of expenses of U$S 7.5 million.

    Telecom Personal Notes - Global Program and Series Issuance

    Personal's Ordinary and Extraordinary Shareholders' Meeting held on December 2, 2010 had approved the creation of a Medium Term Note Program for a maximum circulation amount of U$S 500 million or its equivalent in other currencies, for a five year period. On October 13, 2011, the Comision Nacional de Valores ("CNV") had authorized the mentioned Program through Resolution No. 16,670.

    Personal's Ordinary Shareholders' Meeting held on May 26, 2016 authorized to extend the due date of the Program and to expand the Program's maximum circulation amount to U$S 1,000 million or its equivalent in other currencies.

    On October 20, 2016, the CNV authorized the extension and expansion of the mentioned Program through Resolution No. 18,277. Under the Program, Personal issued Series with the following terms and conditions: Series III, denominated in pesos at a floating rate and with a maturity of 18 months from the date of issuance and settlement of November 16th, 2016, for a nominal value of $721,969,404; and Series IV, denominated in US dollars, at a fixed rate and with a maturity of 24 months from the same date of issuance and settlement as Series III, for a nominal value of U$S77,900,400.

    The mentioned notes have a local risk rating issued by FIX SCR S.A. (Fitch Ratings) of "AA+ (arg)", due to the credit quality and financial strength of Personal.

    The mentioned issuances intended to contribute to develop the local capital markets and are aimed to promote the retail market. The proceeds from the issuance were applied, the refinancing of short-term debt.

    Mandatory Public Tender Offer ("OPA")

    On February 24, 2016, Telecom Argentina was notified by Fintech Telecom, LLC's of its intention to launch a Mandatory Public Tender Offer (the "OPA") for all Class B common shares of Telecom Argentina listed on the Buenos Aires Securities Market, or Mercado de Valores de Buenos Aires S.A., resulting from a change of control event. On September 6, 2016, the CNV's Board of Directors approved the terms of the OPA.

    On November 7, 2016, Fintech informed the Company that, having ended the OPA's offers reception period in Argentina, a total offer of 12,337,723 Class "B" shares were received and accepted, representing 1.253% of Telecom Argentina's total capital. Simultaneously, Fintech had launched an OPA in the United States of America, where the offer period expired on November 23, 2016 and offers for 5,549,209 ADSs and 3,695 Class "B" shares were received and accepted.

    Other Relevant Matters

    Decree 1,340/16 - Refarming

    Decree N 1,340/16, published in the Official Bulletin of January 2, 2017, introduced certain changes to Decree N 267/15 and implemented basic rules to reach a higher level of convergence of networks and services, under a competitive environment.

    Among other matters the Decree establishes: -The limit term of 15 years for the protection of the last mile NGN networks used for broadband services deploy by ICT licensees; -That the Ministry of Communications ("MINCOM") and/or the Communication Entity ("ENACOM") will dictate the rules of administration, management and control of the radio electric spectrum; - That the Company, as well as the rest of the operators included in Section 94 of the Argentine Digital Law, will be able to registered the Broadcasting services via physical or radio electric links, as of the entry of force of the Decree, setting as the starting date for the provision of the said service in the AMBA region, and in the cities of Rosario (Santa Fe province) and Cordoba (Cordoba Province), January 1, 2018. The Decree sets that the initial date for the rest of the country will be determined by the ENACOM.

    Resolution 5/2017

    The Ministry of the Interior, Public Works and Housing published in the Official Bulletin Resolution N 5/2017, where it established the monthly rates in Argentine pesos for 2017 for the rent of terraces, ceilings, towers, lots or any other public buildings in order to install antenna infrastructure, equipment and installations associated to telecommunication services, information technologies and audiovisual communication. The objective is to unify the price according to the kind of antenna for the entire national territory. Initial rental values will be for the term of two years. After such period, the prices will be updated.

    Resolutions 1,033 and 1,034/2017

    The ENACOM approved changes in the frequency allocation of 2.5 GHz and 900 MHz for the mobile services. The regulator resolved the change in the allocation of the frequency bands between 905 MHz/ 915MHz; 950 MHz/ 960 MHZ and 2500 MHz/ 2690 MHz, to the mobile service with primary category, for the provision of advanced mobile communication services.

    Resolution N 1,034/17 modifies the General Regulation of the Advanced Mobile Communication Service, which established that for the provision of 4G services the country was considered as a geographic area of exploitation. Now the operation of these services will be able to be local or regional.

    In the case of 2.5 GHz, ENACOM established that the channeling model 2500-2570 and 2620-2690 MHz for FDD and 2575-2620 for TDD (option 1 from the UIT), same as the one used in countries of the region that offer LTE using such frequencies.

    Likewise, it was delegated to the Chairman of ENACOM the determination of the Unique Reference Value corresponding to every frequency band used for the mobile communication in 2.5 GHz. Also, ENACOM will have 15 working days to determine the locations, the service and coverage conditions over which the providers will be able to apply for the allocation of 2.5 GHz.

    The rule clarifies that in the case of interference in the 2.5 GHz band; the services of the Community Closed Television Circuit by subscription through radioelectric link (CCTVS), allocated for such frequency, should migrate to bands between 12.2 and 12.7 GHz, in accordance to Resolution 2531/16. Meanwhile, systems classified as the Digital Multichannel (MXD) and point to point and point to multipoint services TV Program (TPMTV) operating currently in frequencies 2,500 and 2,690 MHz should migrate to frequencies above 6 GHz designated for such services.

    As from now, all the projects presented for the usage of those frequencies, the Ministry of Communications will have 30 days to analyze and take the necessary actions provided in the Refarming Regulation.

    Destination of Retained Earnings

    In respect to the Retained Earnings, according to Section 27, Chapter II of Title II of the CNV Rules, (N.T 2013), Shareholders' Meetings of Companies that exhibit cumulative positive results in their annual financial statements not subject to restrictions for its distribution, should adopt an express resolution regarding its allocation to either one or a combination of the following: cash dividend distribution, share capitalization or creation of reserves, where it should be specifically foreseen in the Agenda of the Shareholders Meeting that deals with the treatment of the distributable earnings.

    In relation to these alternatives, the Board of Directors proposes:

    a. To allocate the amount of the Retained Earnings of P$3,975 million to 'Reserve for Future Cash Dividends';

    b. To release the amount of P$2,730 million from the 'Voluntary Reserve for Future Capital Operations', and transfer it to the 'Reserve for Future Cash Dividends'; and

    c. To release the amount of P$2,904 million from the 'Voluntary Reserve for Future Investments', to increase the 'Reserve for Future Cash Dividends'.

    Moreover, it is proposed that the Shareholders Meeting determines the amount to be withdrawn from the Reserve for Future Cash Dividends and the opportunity and conditions for the cash dividend payment to Shareholders, notwithstanding the faculty of the Board of Directors to determine the payment of anticipated dividends in accordance to that contemplated in Section 224, second paragraph of the General Corporations Law.

    *********

    Telecom is the parent company of a leading telecommunications group in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission and Internet services, among other services. Additionally, through a controlled subsidiary, the Telecom Group offers cellular services in Paraguay. The Company commenced operations on November 8, 1990, upon the Argentine government's transfer of the telecommunications system in the northern region of Argentina.

    Nortel Inversora S.A. ("Nortel"), which acquired the majority of the Company from the Argentine government, holds 54.74% of Telecom's issued common stock. Nortel is a holding company whose common stock (approximately 78% of capital stock) is owned by Sofora Telecomunicaciones S.A. Additionally, Nortel capital stock is comprised of preferred shares that are held by minority shareholders.

    As of December 31, 2016, Telecom continued to have 984,380,978 shares issued and 969,159,605 shares outstanding.

    For more information, please contact Investor Relations:

    Pedro Insussarry Solange Barthe Dennin Luis F. Rial Ubago Ruth Fuhrmann Antonella Papaleo (5411) 4968 3743 (5411) 4968 3752 (5411) 4968 3718 (5411) 4968 4448 (5411) 4968 6236

    Voice Mail: (5411) 4968 3628
    Fax: (5411) 4968 3616
    E-mail: relinver@ta.telecom.com.ar

    For information about Telecom Group services, visit:

    www.telecom.com.ar
    www.personal.com.ar
    www.personal.com.py
    www.arnet.com.ar

    Disclaimer
    This document may contain statements that could constitute forward-looking statements, including, but not limited to, the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; the effects of its debt restructuring process; the impact of emergency laws enacted by the Argentine Government; and the impact of rate changes and competition on the Company's future financial performance. Forward-looking statements may be identified by words such as "believes," "expects," "anticipates," "projects," "intends," "should," "seeks," "estimates," "future" or other similar expressions. Forward-looking statements involve risks and uncertainties that could significantly affect the Company's expected results. The risks and uncertainties include, but are not limited to, the impact of emergency laws enacted by the Argentine government that have resulted in the repeal of Argentina's Convertibility law, devaluation of the peso, various changes in restrictions on the ability to exchange pesos into foreign currencies, and currency transfer policy generally, the "pesification" of tariffs charged for public services, the elimination of indexes to adjust rates charged for public services and the Executive branch announcement to renegotiate the terms of the concessions granted to public service providers, including Telecom. Due to extensive changes in laws and economic and business conditions in Argentina, it is difficult to predict the impact of these changes on the Company's financial condition. Other factors may include, but are not limited to, the evolution of the economy in Argentina, growing inflationary pressure and evolution in consumer spending and the outcome of certain legal proceedings. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. The Company undertakes no obligation to release publicly the results of any revisions to forward-looking statements which may be made to reflect events and circumstances after the date of this press release, including, without limitation, changes in the Company's business or to reflect the occurrence of unanticipated events. Readers are encouraged to consult the Company's Annual Report on Form 20-F, as well as periodic filings made on Form 6-K, which are filed with or furnished to the United States Securities and Exchange Commission for further information concerning risks and uncertainties faced by Telecom.

    Contacts:
    Pedro Insussarry
    Solange Barthe Dennin
    (54 11) 4968-3743/3752

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/telecom-argentina-sa-announces-consolidated-results-for-the-annual-period-fy16-and-fourth-quarter-for-fiscal-year-2016-4q16-300420690.html

    Telecom Argentina S.A.

    Web site: http://www.telecom.com.ar/




    Commvault Partners with Pure Storage to Give Customers Power, Performance & Efficiency for the Flash Data Center with Cisco UCSWorld-class technology from Pure Storage, Cisco and Commvault provide organizations a high performance, scalable platform for easily deploying business-critical workloads

    MELBOURNE, Australia and TINTON FALLS, N.J., March 8, 2017 /PRNewswire/ -- Cisco Live -- Commvault , a global leader in enterprise backup, recovery, archive and the cloud, today announced the integration of its Commvault Data Platform and IntelliSnap(R) technology for FlashStack(TM), a flexible, converged infrastructure solution offered jointly by Cisco and Pure Storage, combining the latest in compute, network, and storage hardware into a single, integrated architecture. By providing the data protection layer for FlashStack with IntelliSnap integration, Commvault is working with Pure Storage and Cisco to address the ongoing shift from the traditional silo approach of separate servers, storage, and networking equipment to a pre-designed, pre-engineered, tested and optimized solution that provides organizations a high performance, scalable infrastructure for deploying mission-critical workloads.

    Commvault's IntelliSnap integration with FlashStack is an ideal replacement over traditional data management and protection tools that are unable to scale and support critical enterprise applications and databases like Oracle, VMware SAP, and Microsoft SQL and Exchange, whether physical or virtual.

    An industry leader in snapshot technology with broad support for a wide variety of storage hardware platforms, Commvault's IntelliSnap Technology provides FlashStack customers an application-aware management umbrella that automates and orchestrates the creation, retention and use of snapshots, dramatically simplifying data protection and recovery procedures as well as data sharing. Commvault's Software also integrates the protection and recovery processes by automating workflows, which significantly reduces the burden on a customer's staff and FlashStack. Testing and reference architectures between Cisco and Commvault make extending FlashStack snapshot protection easy and efficient with backup onto Cisco's Unified Computing System(TM) (Cisco UCS(R)) as part of the converged infrastructure stack.

    With FlashStack as a leading purpose-built consolidation platform for enterprise applications, Commvault's simplified data management and optimized protection enables organizations transitioning to FlashStack to have a smooth and seamless experience. Following deployment, Commvault also enables FlashStack customers to protect and recover critical workloads faster, reduce risk by eliminating manual processes, and achieve lower management overhead and costs while leveraging Cisco S-series for their secondary storage and data protection needs. By consolidating point products onto FlashStack, customers are able to reduce power and cooling usage while increasing agility by easily using snapshots for extended uses, like test/dev, devops, analytics, and reporting.

    "Through our extended collaboration with Pure Storage and Cisco to provide Commvault's IntelliSnap integration with FlashStack, we reinforce our ongoing commitment to support all flash data centers to enable business critical applications to perform faster, run more efficiently, and be more available for our shared customers," said Ralph Nimergood, VP of Worldwide Channels and Alliances, Commvault. "With Commvault Software providing the data protection layer for FlashStack, which is built on industry-leading servers and networking components from Cisco and purpose-built, all flash storage from Pure Storage, customers are able to leverage a pre-designed, pre-engineered, and tested solution as a whole. Not only does this integration make their purchase easier while reducing unnecessary hardware acquisition costs, selecting this architecture optimizes mission-critical applications and limits deployment times. This winning combination of technology industry leaders gives customers the ultimate power and efficiency in one converged solution."

    "The addition of Commvault Software completes a trifecta of industry leading technology from Cisco and Pure Storage for our FlashStack offering to provide organizations with a powerful, efficient, and evergreen infrastructure solution," said Michael Sotnick, VP of Channels and Alliances, Pure Storage. "Commvault's IntelliSnap Technology is an ideal fit for FlashStack customers who are responsible for transforming their organizations by delivering faster applications, a better user experience and smarter analytics. By providing modernized and innovative data protection and management from Commvault, FlashStack customers will garner an accelerated time to value while driving an increased ROI from their infrastructure."

    The FlashStack solution with Commvault IntelliSnap integration is available for purchase through select channel partners and resellers of Commvault, Pure Storage and Cisco globally. Existing infrastructure partners will benefit by expanding their target base to customers seeking to protect critical applications and databases -- such as Oracle, VMware, Microsoft SQL and Exchange, SAP HANA and others -- with a complete end-to-end validated enterprise-class solution. This offering enables partners to sell an industry-leading solution based on Commvault's longstanding relationships with Pure Storage and Cisco.

    The Cisco Validated Design (CVD) for FlashStack Virtual Server Infrastructure with Commvault for Data Protection can be downloaded here.

    "Proven Commvault solutions for FlashStack creates additional opportunities for us to address mission critical needs of our customers with confidence," said Ryan Sheehan, GM Advanced Solutions & Services, SHI International Corp. "Customers are shifting from traditional data protection point products in favor of modernized infrastructure solutions. Bringing industry leaders Commvault, Pure Storage and Cisco together, we are able to address organizations that need to protect data intensive business critical applications Oracle, VMware, Microsoft SQL and Exchange, SAP HANA and others that are the lifeblood of their business."

    "Our customers are increasingly seeing the value in moving from inflexible, siloed data protection and management architectures, to a holistic approach that provides them the agility and scalability they need to not only lower risk by fully protecting all their data, but also more easily activates this data for competitive advantage," said Mark Melvin, CTO, ePlus Inc. "We're thrilled to see Commvault working together with Pure Storage and Cisco on this FlashStack initiative to deliver a powerful, fully converged infrastructure, making it easier for customers to implement holistic data management strategies that reduce risk and costs, and deliver better business agility and insights."

    About the Commvault Data Platform and Solutions Portfolio
    The eleventh version of Commvault solutions portfolio is uniquely positioned to help customers activate their data by accelerating the transformation from legacy data management to a modern data environment to unlock critical business insight and drive new value from customers' technology investments. The Commvault solutions portfolio is comprised of an industry-leading product offering in the areas of data protection and recovery, cloud, virtualization, archive, and file sync and share that addresses evolving market trends, growth areas, and customer use cases. The Commvault Data Platform is open and standards-based, helping customers better leverage data, improve IT operations, and enabling 3(rd) party innovation.

    About Commvault
    Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform modern data environments. With solutions and services delivered directly and through a worldwide network of partners and service providers, Commvault solutions comprise one of the industry's leading portfolios in data protection and recovery, cloud, virtualization, archive, file sync and share. Commvault has earned accolades from customers and third party influencers for its technology vision, innovation, and execution as an independent and trusted expert. Without the distraction of a hardware business or other business agenda, Commvault's sole focus on data management has led to adoption by companies of all sizes, in all industries, and for solutions deployed on premise, across mobile platforms, to and from the cloud, and provided as-a-service. Commvault employs more than 2,700 highly skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault -- and how it can help make your data work for you -- visit commvault.com.

    Safe Harbor Statement: Customers' results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.

    (C)1999-2017 Commvault Systems, Inc. All rights reserved. Commvault, Commvault and logo, the "C hexagon" logo, Commvault Systems, Solving Forward, SIM, Singular Information Management, Commvault OnePass, Commvault Galaxy, Unified Data Management, QiNetix, Quick Recovery, QR, CommNet, GridStor, Vault Tracker, InnerVault, Quick Snap, QSnap, IntelliSnap, Recovery Director, CommServe, CommCell, ROMS, APSS, Commvault Edge, Commvault GO, and CommValue are trademarks or registered trademarks of Commvault Systems, Inc. All other third party brands, products, service names, trademarks, or registered service marks are the property of and used to identify the products or services of their respective owners. All specifications are subject to change without notice.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/commvault-partners-with-pure-storage-to-give-customers-power-performance--efficiency-for-the-flash-data-center-with-cisco-ucs-300420376.html

    Photo: http://mma.prnewswire.com/media/460887/commvault_new__logo.jpg Commvault

    CONTACT: Media Contact: Leo Tignini, Commvault, 732-728-5378,
    ltignini@commvault.com, @leotignini; Investor Relations Contact: Michael
    Picariello, Commvault 732-728-5380, ir@commvault.com

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




    General Services Administration Awards Leidos Healthcare Information Technology and Cybersecurity Contract

    RESTON, Va., March 8, 2017 /PRNewswire/ -- Leidos , a global science and technology company, was awarded a prime contract by the General Services Administration (GSA) to provide healthcare information technology and a range of cybersecurity services through the GSA IT Schedule 70 vehicle. The multiple-award indefinite delivery/indefinite quantity contract has a period of performance through December 12, 2032, including all options. There is no dollar ceiling limit on this flexible contract vehicle. Leidos is one of 25 companies that have been authorized to provide services to the government under all four "highly adaptive" cybersecurity service special item numbers (SINs).

    The GSA Schedule 70 is the largest, most widely used acquisition tool in the federal government and provides direct access to products, services, and solutions from more than 4,700 certified industry partners. Leidos has demonstrated experience in delivering high-quality healthcare IT and cybersecurity services to numerous federal, civil, and commercial customers. Under the contract modification, Leidos will offer support to government agencies through the health IT, penetration testing, incident response, cyber hunt and risk and vulnerability assessment SINS.

    "The health IT and cybersecurity scope additions to our GSA IT 70 Schedule will allow for dynamic growth within those core Leidos markets," said Leidos Chief of Business Development & Strategy, Gerry Fasano. "This vehicle provides our customers with a quick way to meet their mission requirements and provides Leidos with a key contract vehicle to pursue important markets."

    About Leidos

    Leidos is a global science and technology solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 32,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $7.04 billion for the fiscal year ended December 30, 2016. For more information, visit www.Leidos.com.

    Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended December 30, 2016, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

    Contact: Melissa Koskovich Jennifer Moffett (571) 526-6850 (571) 526-6852 Koskovichm@Leidos.com Jennifer.a.moffett@leidos.com

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/general-services-administration-awards-leidos-healthcare-information-technology-and-cybersecurity-contract-300420251.html

    Photo: http://mma.prnewswire.com/media/4662/leidos_logo_4817_21071_.jpg Leidos

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




    SAP Extends Customer Engagement Portfolio with New Microservices-Based Revenue Cloud Solution

    WALLDORF, Germany, March 8, 2017 /PRNewswire/ -- SAP SE today announced the extension of its customer engagement and commerce cloud suite with the availability of the SAP(R) Hybris(R) Revenue Cloud solution. This announcement was made at the SAP Hybris LIVE: Digital Summit, a new one-day event taking place March 8, 2017, sequentially in Singapore, Munich and New York and being live-streamed worldwide.

    SAP Hybris Revenue Cloud goes beyond the quote-to-cash process with new capabilities for order configuration, pricing, quoting, order orchestration and subscription billing -- all in the cloud. It includes omnichannel capabilities to meet the needs of the personalized, outcome-based digital business model many customers are striving to achieve as they digitally transform their business. Importantly, SAP Hybris Revenue Cloud allows enterprises to integrate billing strategically rather than tactically. The solution will be available initially in the United States followed by other countries during 2017, and will include a series of editions designed for different enterprise needs.

    Monetizing Digital Business for an Outcome-Based Economy
    "Client business models are changing, and digital is at the forefront of every customer interaction across all channels," said Brian Walker, chief strategy officer, SAP Hybris.* "With the addition of SAP Hybris Revenue Cloud to our portfolio of cloud solutions, we are ideally positioned to help clients take advantage of disruption occurring in their markets, develop new business models and focus on what really matters -- delivering outstanding customer experiences."

    Financial data and operational data are often siloed. With SAP Hybris Revenue Cloud, customers can connect to SAP S/4HANA(R) for a single view, providing flexible, simplified reporting and improved automation to better track and manage the health of customer relationships and their overall business. In addition, SAP Hybris Revenue Cloud enables handling of orders across multiple fulfillment and service delivery platforms, delivering the results customers want in an outcome-based economy.

    A New Generation of Microservices-Based Cloud Offerings
    SAP Hybris Revenue Cloud constitutes a new generation of cloud products based on a microservices architecture that enables partners and customers to build and harness flexible extensions and solutions. The SAP Hybris cloud suite can run on SAP Hybris as a Service (informally known as "YaaS"), which helps businesses rapidly and easily augment and enhance their existing solutions with microservices and software-as-a-service applications.

    Concur, an SAP company, represents SAP's solution for integrated travel and expense management; it is looking to consolidate on SAP Hybris Revenue Cloud to help transform its entire quote-to-cash process, which previously ran on a mix of cloud products. This transition will be part of a broader initiative to adopt the SAP Hybris product suite.

    SAP Hybris Revenue Cloud works as a stand-alone solution connected to an enterprise's existing IT systems, or it can be operated as an integral part of the SAP Hybris cloud portfolio. This gives enterprises an end-to-end commerce solution that enables customer engagement across channels and devices, and allows them to respond to changing customer needs, such as by providing initial offers and cross-sell, up-sell and down-sell options. Importantly, it allows customers to build new subscription- and usage-based offers grounded on deep customer insights.

    For more information, read this blog post and visit the SAP News Center. Follow SAP on Twitter at @sapnews. For more information on SAP Hybris solutions, visit the News Center or follow on Twitter at @saphybris.

    About SAP
    As market leader in enterprise application software, SAP helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 345,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

    *SAP Hybris is a brand name launched in January 2016 to represent the SAP solutions for customer engagement and commerce as well as the offerings, employees, and business of acquired company hybris AG, which continues to be our legal entity until integration with SAP is complete.

    Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

    (C) 2017 SAP SE. All rights reserved.
    SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.

    For customers interested in learning more about SAP products:
    Global Customer Center: +49 180 534-34-24
    United States Only: 1 (800) 872-1SAP (1-800-872-1727)

    For more information, press only:
    Michael Baxter, SAP, +49 151 1719 6185, m.baxter@sap.com, CET
    SAP News Center press room; press@sap.com
    Jenny Gardynski or Nikki Festa, PAN Communications, +1 (617) 502-4300, SAPHybris@pancomm.com, EST

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sap-extends-customer-engagement-portfolio-with-new-microservices-based-revenue-cloud-solution-300419894.html

    Photo: http://mma.prnewswire.com/media/75173/sap_ag_logo.jpg SAP SE

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




    Canon Announces New varioPRINT 140 Series to Help Meet Needs of Monochrome Document Production Across Vertical MarketsvarioPRINT 140 Series Provides Reliability with Outstanding Productivity

    MELVILLE, N.Y., March 8, 2017 /PRNewswire/ -- Signifying a continued commitment to innovation and investment in the monochrome production print market, Canon U.S.A., a leader in digital imaging solutions, has announced the arrival of the third generation of the varioPRINT DP product line with the release of the varioPRINT 140 Series. Consisting of models that print at speeds of up to 140 ipm, 130 ipm and 115 ipm(1), the new Series incorporates the proven reliability that varioPRINT users depend on and features market-driven extensions to help print service providers who work with high monochrome workloads meet the deadlines, quality and flexibility expectations of their customers.

    http://photos.prnewswire.com/prnvar/20160119/323578LOGO

    Positioned for small to mid-sized commercial printers and in-plants, the convenience, reliability and efficiency of the varioPRINT 140 Series makes the device optimal for environments with average monthly print volumes up to 800,000 letter-size images. Enhancements to copy and scan capabilities in the new series address the high document digitization needs in markets such as legal, healthcare and education.

    "Monochrome printed documents likely affect all facets of our everyday life, from educational materials to legal briefs to books and user manuals. Understandably, monochrome printed pages are projected to remain the largest by volume in the coming years and there is still a strong desire for devices dedicated to black-and-white printing," said Toyotsugu Kuwamura, executive vice president and general manager, Business Imaging Solutions Group, Canon U.S.A., Inc. "The varioPRINT 140 Series highlights Canon's on-going commitment to answer the demands of all production markets. A worthy successor to Canon's previous monochrome devices, it provides reliability and versatility for environments with the need for efficient and cost-effective black-and-white production printing."

    "It's interesting to note that monochrome printing remains a vital component of the business for many in-plants and commercial printers, which is why we continue to see investment in the new monochrome printing platforms from industry leaders such as Canon," said Dave Erlandson, General Manager of Caslon & Company. "Canon's next generation of monochrome presses is raising the bar. Long known for rock solid reliability, the varioPRINT line and the latest PRISMAsync capabilities will help enhance throughput and reduce labor costs as print service provider strive to be more efficient and profitable."

    Integral Productivity
    The varioPRINT 140 Series has the capability of producing peak volumes up to 2.2 million letter-size images per month and features Canon's unique productivity tools for production planning and monitoring:

    --  PRISMAsync Job Scheduler
    --  PRISMAsync Remote Manager
    --  PRISMAsync Remote Control app for smart devices(2)
    

    Downloadable to a smartphone or personal tablet, the new Remote Control app allows operators to focus on other tasks while receiving real-time notifications of upcoming operator actions, such as loading media or adding consumables, or alerts of immediate actions needed. One or multiple PRISMAsync Print Server-driven digital presses can be monitored at a glance helping expedite manual interventions to increase device uptime and productivity.

    Flexible and Intuitive Workflow
    Improved copy and scan features provide users with a convenient and efficient method of document digitization with book copy mode, an easy copy screen, page numbering and a smaller scan file size, making the device ideal for high-volume copy/scan environments.

    The Windows 10-based PRISMAsync Print Server driving the varioPRINT 140 Series helps streamline the job handling process with its highly visual press console and, in turn, helps reduce time spent training staff and manually managing the operation. By design, it fully integrates with Canon's PRISMA software suite of workflow essentials for production printing to improve total system performance and accelerate workflow, helping to keep rising costs in check and avoid setbacks. For integration into other existing workflows, the JDF/JMF interface of the varioPRINT 140 Series allows connectivity to third-party systems such as CIP4-compliant MIS or Web-to-Print solutions.

    Application Quality
    The varioPRINT 140 Series delivers offset-like, high print quality with sharp lines, halftone uniformity and smooth gradations through its ScreenPoint Technology's SuperCell rasterization. ScreenPoint Technology also allows the reproduction of color halftones and photographs as grayscale images with excellent resolution, dense black fills, and precise fine lines without operator intervention. The true digital nature of the varioPRINT 140 Series' unique DirectPress Technology all but eliminates quality degradation. Working in a single, stable digital process which isn't affected by light, static charge, temperature, humidity, developer or toner mixtures DirectPress Technology provides output consistency over time and from press to press; and results in outstanding reliability.

    The varioPRINT 140 Series offers a full range of in-line finishing and output options, including stapling, saddle stitching, folding, die punching, inserting, ring binding and high-capacity stacking, to automate manufacture of most print products. For further specialized needs, the Series' open Document Finishing Device (DFD) Interface enables in-line connectivity to third party devices.

    Secure and Sustainable
    Vital for many CRDs and in-plant printers that handle sensitive materials, the varioPRINT 140 Series is equipped with new security features to help provide better control over unauthorized usage and enhanced observation of user activity. Security features include user authentication by role or via LDAP-based operator login, a configurable user interface and extended audit logging.

    The varioPRINT 140 Series is the latest of a long line of sustainable products offered by Canon. Utilizing leading-edge technology to produce a cleaner working environment, the varioPRINT 140 produces no ozone emissions with virtually no toner waste. Recognizing the importance of conservation, the varioPRINT 140 Series' energy consumption is among the lowest per print when compared to other devices in the marketplace.

    Availability
    The varioPRINT 140 Series of digital presses will be available through Canon Authorized Dealers and Canon Solutions America later this month.

    For more information please visit www.usa.canon.com.

    About Canon U.S.A., Inc.
    Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $29 billion in global revenue, its parent company, Canon Inc. , ranks third overall in U.S. patents granted in 2016(**) and is one of Fortune Magazine's World's Most Admired Companies in 2016. Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. In 2014, the Canon Americas Headquarters secured LEED(R) Gold certification, a recognition for the design, construction, operations and maintenance of high-performance green buildings. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA. For media inquiries, please contact pr@cusa.canon.com.

    (** )Based on weekly patent counts issued by United States Patent and Trademark Office.

    (1 )Printed on letter size, 20 lbs. bond paper.

    (2 )Android/iOS supported; Setup and data transfer outside user network is required.

    Canon U.S.A. Web site:
    http://www.usa.canon.com

    For sales information/customer support:
    1-800-OK-CANON

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/canon-announces-new-varioprint-140-series-to-help-meet-needs-of-monochrome-document-production-across-vertical-markets-300420529.html

    Photo: http://photos.prnewswire.com/prnh/20160119/323578LOGO Canon U.S.A., Inc.

    CONTACT: Andrew Berger, Canon U.S.A., Inc., 631.330.2403,
    aberger@cusa.canon.com

    Web site: http://www.usa.canon.com/




    Canon launches Oce Colorado 1640, the world's first 64 inch roll-to-roll printer built on Canon's new UVgel technology

    MELVILLE, N.Y., March 8, 2017 /PRNewswire/ -- Canon U.S.A., Inc. a leader in digital imaging solutions, today announced a new print technology that will offer large format graphics print providers unique levels of print speed, quality, automation, and cost of operation.

    http://photos.prnewswire.com/prnvar/20160119/323578LOGO

    Canon, a world leader in imaging solutions, proudly introduces a new 64 inch roll-to-roll printer designed to deliver exceptional productivity for high quality indoor and outdoor graphics. Customers will be able to easily handle peak periods with fully automated media loading of multiple online rolls, confidently print unattended with on-the-fly quality assurance, produce instantly cured prints on a wide variety of media including heat sensitive media, and help cut expenses with segment-leading low operating costs. The Oce Colorado 1640 will transform 64 inch roll-to-roll sign and display printing.

    "We are very excited about this revolutionary new game changing technology," said Toyo Kuwamura, executive vice president and general manager, Business Imaging Solutions Group, Canon U.S.A., Inc. "This new technology will help large format print providers to increase their print production while lowering their operating costs, enabling them to profitably grow their business. This technology will have a great business impact on the market including small, midsize and even the large production shops, everyone will benefit."

    UVgel Technology
    At the heart of the new Oce Colorado 1640 is Canon's recently announced UVgel technology. This technology combines a radically new UV curable ink from Canon that instantly gels on contact with the media, an advanced "self-aware" piezoelectric printhead technology, an LED-based UV system that cures without adding any damaging heat to the media, and continuous, on-the-fly, printhead nozzle monitoring and performance compensation. These unique technologies come together to create a 64" roll-to-roll printer that sets new standards for quality, productivity, automation, application range, and operating costs.

    Breakthrough Productivity
    The new Oce Colorado 1640 is the fastest 64 inch printer on the market. It boasts a top speed of 1710 square feet per hour and delivers high quality, POP prints at 430 square feet per hour faster than any competing system in this segment. The new, technologically advanced UVgel ink instantly gels on contact with media resulting in precise dot gain and positional control, perfectly repeatable images, and instantly cured, durable prints. The state-of-the-art low temperature LED-UV curing system moves independently from the printing carriage thus enabling uniform, post-print UV curing that further contributes to print speed and print quality. Confident unattended printing, automated quality assurance, unattended roll change, and reduced print waste all significantly contribute to overall productivity.

    Innovations in Automation
    The Oce Colorado 1640 sets a new standard in industrialization and automation. It features a heavy-duty drawer mechanism that holds up to two rolls of media at one time, each weighing up to 110 lbs. The two rolls can be of the same media type and size or different media, and once initialized, the print engine can switch jobs between rolls without operator assistance. If an unknown media is loaded, the printer will automatically measure its thickness and adjust the print gap accordingly. This ensures the best possible print quality and reduces the risk of printhead crashes. This information is then stored in the media library along with other media parameters so that the next time this type of media is loaded, the printer knows exactly how to handle it.

    Reliability is key for a true production-oriented printer, and the machine must be able to print while unattended. This is why Canon has developed several innovative technologies for on-the-fly quality assurance and control. The UVgel printheads incorporate patented continuous nozzle monitoring to detect and correct any underperforming nozzles. During each and every printing pass, Canon's patented nozzle monitoring technology automatically checks all nozzles using acoustic sampling and even detects whether nozzles are going to misfire before they actually do. In the event of nozzle failure, corrective maintenance is automatically performed.

    Broad Application Range
    The Oce Colorado 1640 is excellent for both indoor and outdoor applications. It delivers a large color gamut, similar to solvent inks but combines this with the environmental benefits and safety profile of latex and UV-cured systems. The result is nearly odorless, VCL-free, durable, colorfast, high quality prints even on the thinnest, most heat-sensitive media. Canon's unique UVgel technology features ultra-thin ink dispersion with almost no discernible physical profile on the media surface. Prints feel uniquely smooth, unlike other UV ink technologies, and satisfy the highest environmental standards for indoor usage with a virtually odorless profile.

    As with all roll-to-roll printers, an important factor in print quality, and subsequently application range, is the accuracy with which the printer advances the media. Built on a heavy, robust frame for class-leading rigidity and equipped with industrial components, the media handling system uses an optical feedback loop that continuously monitors media advance. Using virtually invisible printed index marks at the edges of the media, the system measures media advances in real time to automatically correct the subsequent step size as needed.

    Lowest Operating Cost
    The Oce Colorado 1640 leads the way in terms of low operating costs. Canon's unique UVgel technology features ink consumption much lower than competitive technologies, as much as 40 percent lower. This technical advantage is matched with a competitive ink price, making the ink cost of production significantly lower than competing technologies. Looking beyond the easily measured cost savings found in every print, additional savings may be realized through unsurpassed automation features that help reduce operator machine handling time by up to a third compared to competitive products.

    "Canon is looking forward to the U.S. debut of this product at the ISA Show in April," said Toyo Kuwamura, executive vice president and general manager, Business Imaging Solutions Group, Canon U.S.A., Inc. "We know that there has been a lot of anticipation around this technology and we are very excited about what the future will bring."

    In summary, this proprietary UVgel technology, consisting of both inks and print heads from Canon, will offer large format graphics print providers significant benefits to existing eco-solvent or Latex ink technology, including:

    --  The world's fastest 64 inch roll-roll printer with a maximum usable
    print speed of 1710 square feet per hour and a high quality POP mode at
    430 square feet per hour.
    --  Up to 40 percent reduction in ink/printing costs compared to other
    technologies such as latex
    --  Industrial designed production printer capable of printing higher print
    volumes and built to withstand high duty cycles
    --  Very high print quality across a wide range of applications without
    having to significantly compromise productivity by reducing speed
    --  Extremely easy and fast media loading and automatic switching with the
    support of 2 in-line rolls
    --  On-the-fly quality assurance technology facilitates unattended printing
    and reduced print waste
    --  Automated maintenance provides consistent print quality and higher
    uptime
    

    This product will have its first public debut in the U.S.A. at the ISA International Sign Expo in April of 2017. In conjunction with the first commercially available units, pricing and specification details will be released at that time.

    About Canon U.S.A., Inc.
    Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $29 billion in global revenue, its parent company, Canon Inc. , ranks third overall in U.S. patents granted in 2016.(**) Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes in the United States. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. In 2014, the Canon Americas Headquarters secured LEED(R) Gold certification, a recognition for the design, construction, operations and maintenance of high-performance green buildings. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA. For media inquiries, please contact pr@cusa.canon.com.

    **Based on weekly patent counts issued by United States Patent and Trademark Office.

    Availability, prices and specifications are subject to change without notice.

    Canon is a registered trademark of Canon Inc. in the United States and elsewhere. Oce is a registered trademark of Oce-Technologies B.V. in the United States and elsewhere.

    All other referenced product names and marks are trademarks of their respective owners and are hereby acknowledged.
    (C) 2017 Canon U.S.A., Inc. All rights reserved.

    Canon U.S.A. website:
    http://www.usa.canon.com

    For sales information/customer support:
    1-800-OK-CANON

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/canon-launches-oce-colorado-1640-the-worlds-first-64-inch-roll-to-roll-printer-built-on-canons-new-uvgel-technology-300420539.html

    Photo: http://photos.prnewswire.com/prnh/20160119/323578LOGO Canon U.S.A., Inc.

    CONTACT: Editorial Contact, Siobhan Cullagh, Canon U.S.A., Inc.,
    631-330-4602, scullagh@cusa.canon.com

    Web site: http://www.usa.canon.com/




    SNM GLOBAL HOLDINGS has Agreed to Terms for Entering into a Joint Venture Agreement with Green, Inc.

    MIAMI BEACH, Fla., March 8, 2017 /PRNewswire/ -- SNM Global Holdings has agreed to terms for entering into a Joint Venture agreement with Green, increasing their proposed stake in the company.

    Green is a cloud-based provider of closed loop digital payments technology enabling the cannabis industry with a secure, cashless way to process transactions. "With, in our opinion, the exciting potential of Green and its technology, we feel a significant increase to joint partners in the deal is a prudent investment for our company and shareholders. Raising our stake from 10% to 50% we feel will enhance our valuation and the SNM brand," stated SNM Global CEO Troy Lowman.

    Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/snm-global-holdings-has-agreed-to-terms-for-entering-into-a-joint-venture-agreement-with-green-inc-300420422.html

    SNM Global Holdings

    CONTACT: Troy Lowman, Chief Executive Officer, SNM Global Holdings,
    410-733-6551




    QinetiQ North America Applies its Wind Profiling Portable Radar Technology for Accurate Single-Pass Airdrops to U.S. Military Ground Forces

    WALTHAM, Mass., March 8, 2017 /PRNewswire/ -- QinetiQ North America (QNA) today announced that it has recently received a $3M contract from the U.S. Air Force Life Cycle Management Center (AFLCMC) for its Wind Profiling Portable Radar (WiPPR(R)) technology. WiPPR provides near real-time precision wind measurements which will enable C-130 and C-17 aircrews to airdrop critical supplies more accurately and quickly to U.S. ground forces in austere locations.

    Under the contract, QNA will design and build a prototype airborne WiPPR unit that will be tested to demonstrate accurate wind measurement in near real-time. Airborne WiPPR is based on QNA's commercially available ground based WiPPR Wind-Profiling Portable Radar technology. WiPPR systems are available for research, weather, and commercial wind markets worldwide.

    "Airborne WiPPR will provide the airdrop aircraft an organic capability to characterize the air mass and execute a "single-pass" precision resupply of troops in contact," said Bob Polutchko, Vice President of QNA's Emerging Markets. "This capability will reduce the exposure of aircraft and aircrews to enemy countermeasures."

    QNA has a long history of providing operational systems to the US military that provide local meteorological data in support of critical operations including airdrop. WiPPR is the next step in this operational capability.

    About QinetiQ North America
    QinetiQ North America (QNA) is a subsidiary of QinetiQ Group plc, the FTSE250 company listed on the London Stock Exchange . QNA delivers world-class technology and revolutionary products to the defense, security, commercial, utility and transportation markets. Customers rely on QNA products to increase situational awareness, aid in personal safety, enhance security and streamline operations. QNA products include unmanned systems, military protection, power sensors and control systems and transportation safety solutions. QNA is headquartered in Waltham, Massachusetts and operates as the US arm of QinetiQ Group's Global Products division. For more information, visit www.qinetiq-na.com.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/qinetiq-north-america-applies-its-wind-profiling-portable-radar-technology-for-accurate-single-pass-airdrops-to-us-military-ground-forces-300420174.html

    Photo: http://mma.prnewswire.com/media/475813/QinetiQ_North_America_Wind_Measurement.jpg QinetiQ North America

    CONTACT: Julie Collura, Communications Manager,
    Julie.Collura@QinetiQ-NA.com, 1.781.250.9618

    Web site: http://www.qinetiq-na.com/




    Canon Introduces Wide Array of MFPs and Printers Designed to Help Meet the Diverse Needs of BusinessesNew imageRUNNER ADVANCE and imageCLASS Models to Deliver Consistent Design, Reliable Performance and Intuitive User Experience

    MELVILLE, N.Y., March 8, 2017 /PRNewswire/ -- Canon U.S.A., Inc., a leader in digital imaging solutions, today announced the availability of several new multifunction and single function printers designed to meet the needs of businesses, large and small. Available in both color and monochrome models, the new imageRUNNER ADVANCE and imageCLASS devices provide customers with the signature dependability and consistent user experience they have come to expect from Canon, helping organizations to enhance productivity - while addressing a diverse set of business applications and end user requirements.

    http://photos.prnewswire.com/prnvar/20160119/323578LOGO

    Technology is meant to simplify business, and Canon's goal is to offer both hardware and software solutions with a consistent design that helps customers enable their workforce for maximum efficiency. Along with similar interfaces for consistent user experience in multi-device installations and integration with uniFLOW, Canon's premier output management platform, for greater visibility, control, and security of office printing across their fleet. The imageRUNNER ADVANCE models also provide users with powerful scanning and document processing capabilities through uniFLOW - helping organizations to secure, automate and simplify paper-intensive business processes.

    "As a business optimizes its fleet, it seeks to maximize return on investment. Yet, an organization is only as productive as its workers, and an enterprise must focus on both fleet optimization and individual productivity to reach its goal of improved efficiency," said Barbara Richards, senior consultant, InfoTrends. "Regardless of whether a fleet employs a combination of color, monochrome, multifunction or single-function technology, for business operations to continue without a hitch, employees need a familiar experience as they move from device to device."

    "The needs of today's businesses can vary greatly across an organization, which is why Canon provides customers with print technology that offers not only a strong feature set and solutions platform, but also consistency and coherence across our devices," said Toyotsugu Kuwamura, executive vice president and general manager, Business Imaging Solutions Group, Canon U.S.A., Inc. "Designed for a straightforward user experience, these new imageRUNNER ADVANCE and imageCLASS models deliver efficient, adaptable and cost-effective print capability designed to expand productivity."

    New imageRUNNER ADVANCE Models
    Completing the third generation imageRUNNER ADVANCE portfolio, the new imageRUNNER ADVANCE C3530i and imageRUNNER ADVANCE C3525i models provide enhanced productivity with a small footprint. Equipped with outstanding scanning capabilities, these new models can help digitally transform paper intensive environments in markets such as legal, financial, healthcare, and education. InfoTrends estimates that workers spend approximately 25 percent of their time at the MFP for the purpose of scanning.(1) Providing duplex scanning capabilities nine times faster than predecessor models, the new imageRUNNER ADVANCE 3500 Series single-pass duplex scanning can help reduce the time needed to scan a 50-page duplexed document.

    The new imageRUNNER ADVANCE C355iF/C255iF models are the first A4 models to be introduced on the award-winning third generation imageRUNNER ADVANCE platform. Designed with the same user interface, dependability, device security, document security, and standard workflow features offered by the third generation imageRUNNER ADVANCE line, these new models provide consistency in user and management experience across a fleet. This coherence gives customers flexibility in choosing the right solution for their situation even if they have limited space requirements, or have environments without a need for A3 size prints.

    With security and compliance being top priorities for organizations across all industries, the ability to secure multifunction printers becomes a critical aspect of an organization's security plan. Leveraging the feature rich security capabilities of the third generation imageRUNNER ADVANCE platform, the new imageRUNNER ADVANCE models provide robust device and document security functionality designed to help protect the device, as well as the information that flows through it, from unauthorized access. When coupled with uniFLOW, document security is further enhanced through secure pull printing and secure document scanning.

    New imageCLASS Models
    Today's businesses, from hospitals to financial institutions to law offices, require a combination of equipment that supports the needs of departments, workgroups and individuals. The imageCLASS LBP312dn (45 ppm black-and-white) printer, Color imageCLASS MF735Cdw (28 ppm multifunction) printer and Color imageCLASS LBP654Cdw (28 ppm color) printer offer faster speeds, increased toner cartridge capacities and an improved user experience, when compared with their predecessors. Additionally, the MF735Cdw and LBP654Cdw leverage a new device platform called Application Library which empowers users to create and access their own customized workflows via an easily navigable remote interface and a new five-inch color touch screen, respectively, to help improve operational efficiency and control.

    The new imageCLASS models expand the available assortment of desktop-ready Canon printers that can be leveraged throughout an organization as a complement to more centralized imageRUNNER ADVANCE equipment. Common optional tools such as the uniFLOW solution, imageWARE Remote and Canon Managed Document Services can be employed to help manage the fleet, from optimizing print workflows and security features, to managing supplies, service and maintenance.

    Availability*
    The imageRUNNER ADVANCE C3500 Series and imageRUNNER ADVANCE C355/C255iF MFP models are currently scheduled to be available early spring through authorized Canon dealers.

    The imageCLASS LBP312dn, Color imageCLASS MF735Cdw and Color imageCLASS LBP654Cdw models are currently scheduled to be available early spring through authorized Canon dealers and select Canon resellers.

    About Canon U.S.A., Inc.
    Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $29 billion in global revenue, its parent company, Canon Inc. , ranks third overall in U.S. patents granted in 2016.(**) Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes in the United States. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. In 2014, the Canon Americas Headquarters secured LEED(R) Gold certification, a recognition for the design, construction, operations and maintenance of high-performance green buildings. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA. For media inquiries, please contact pr@cusa.canon.com.

    **Based on weekly patent counts issued by United States Patent and Trademark Office.

    *Availability, prices and specifications are subject to change without notice. Actual prices are set by individual dealers and may vary.

    All referenced product names, and other marks, are trademarks of their respective owners.

    1 InfoTrends Business Scanner Survey

    Canon U.S.A. website:
    http://www.usa.canon.com

    For sales information/customer support:
    1-800-OK-CANON

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/canon-introduces-wide-array-of-mfps-and-printers-designed-to-help-meet-the-diverse-needs-of-businesses-300420542.html

    Photo: http://photos.prnewswire.com/prnh/20160119/323578LOGO Canon U.S.A., Inc.

    CONTACT: Kim Tucker, Canon U.S.A., Inc., 631-330-4605,
    kitucker@cusa.canon.com

    Web site: http://www.usa.canon.com/




    CDI Corp. Reports Fourth Quarter and Full Year 2016 Results

    PHILADELPHIA, March 8, 2017 /PRNewswire/ -- CDI Corp. , (the "Company") today reported results for the fourth quarter and full year ended December 31, 2016.

    "We are pleased to see the benefit of our efficiency and cost management actions on our operating expenses and cash flows in the fourth quarter, providing a stronger foundation for our future success," stated President and Interim Chief Executive Officer Michael S. Castleman. "As we enter 2017, the entire CDI team remains squarely focused on our transformation. Through targeted programs that leverage inherent strengths of the CDI platform, we are aligned on our primary mission: to deliver profitable growth and thereby generate improved investor returns."

    Fourth Quarter and Full-Year 2016 Overview

    --  Fourth quarter revenue of $183.9 million versus $236.6 million in fourth
    quarter 2015, or $211.5 million in fourth quarter 2015 excluding CDI
    AndersElite Limited ("Anders"), which was sold in September 2016
    
    --  Fourth quarter net loss attributable to CDI of $1.5 million, or $(0.08)
    per diluted share, versus net loss attributable to CDI of $17.1 million
    in fourth quarter 2015, or $(0.87) per diluted share
    
    --  Fourth quarter adjusted EBITDA(1) of $0.5 million versus $0.4 million in
    prior year
    
    --  Fourth quarter cash flow from operating activities of $7.0 million
    
    --  Full-year 2016 revenue of $864.4 million versus $985.5 million in 2015;
    Excluding Anders, full-year 2016 revenue was $805.1 million versus
    $880.5 million in 2015
    
    --  Full-year 2016 net loss attributable to CDI of $31.6 million, or $(1.66)
    per diluted share, versus net loss attributable to CDI of $37.0 million,
    or $(1.88) per diluted share for 2015
    
    --  Full-year adjusted EBITDA(1 )loss of $2.1 million versus adjusted
    EBITDA(1) of $13.2 million in 2015
    
    --  Full-year cash flow from operating activities of $13.5 million.
    

    Summary Results from Operations for the Fourth Quarter 2016

    For the fourth quarter 2016, revenue of $183.9 million was down 13.1% compared to the prior-year fourth quarter, adjusting for the sale of Anders. Revenues declined for Enterprise Talent, Engineering Solutions and MRI, partially offset by an increase in Specialty Talent & Technology Solutions.

    Enterprise Talent revenue of $95.3 million compares to prior-year fourth quarter revenue of $138.3 million, or $113.3 million excluding Anders, a decline of 15.8%.

    (1) Adjusted EBITDA excludes from net income (loss) attributable to CDI, interest, income taxes, depreciation and amortization expense, impairment charges, restructuring and other related costs, share-based compensation expense, leadership transition costs, loss on disposition, certain acquisition and litigation items, gain from the sale of a non-operating corporate asset, impairment related costs and sales and use tax recovery benefit. See the financial tables accompanying this release for more information on non-GAAP financial measures and the reconciliation of these measures to GAAP measures.

    Engineering Solutions revenue of $58.0 million compares to prior-year fourth quarter revenue of $67.0 million, or a decline of 13.4%. Government Services revenue grew 9.8% year-over-year, offset by revenue declines in Energy, Chemicals and Infrastructure (EC&I) and Aerospace and Industrial Equipment (AIE) of 20.8% and 16.7%, respectively.

    Specialty Talent & Technology Solutions revenue of $18.5 million, which includes the contribution from EdgeRock acquired on October 6, 2015, compares to prior-year fourth quarter revenue of $18.1 million, or an increase of 2.0%. Specialty Talent grew 3.3%, while Technology Solutions grew 0.2%.

    Management Recruiters International, Inc. (MRI) revenue of $12.0 million compares to prior-year fourth quarter revenue of $13.2 million, or a decline of 8.4%. Royalty & Franchise Fees declined 12.2% while Contract Staffing declined 7.3%.

    Gross profit of $36.2 million compares to prior-year fourth quarter gross profit of $44.7 million, or $40.6 million when excluding Anders, a decline of $4.4 million, or 10.8%. Gross margin, when excluding Anders, expanded 50 basis points year-over-year, to 19.7%.

    The Company reported an operating loss in the fourth quarter of $2.3 million compared to an operating loss of $8.8 million in the year-ago quarter.

    Operating and administrative expenses in the fourth quarter were $38.5 million versus prior-year fourth quarter of $49.9 million, or $44.9 million when excluding Anders, an improvement of $6.4 million, or 14.3%.

    More detailed segment data are included in the tables accompanying this release and in the Company's Form 10-K Report.

    Balance Sheet and Liquidity

    CDI ended the year with $3.2 million in cash and cash equivalents versus $16.9 million at the end of 2015 and $10.2 million at the end of the third quarter 2016. The company had no debt outstanding as of December 31, 2016, versus $18.8 million outstanding at December 31, 2015, and $15.0 million outstanding at September 30, 2016. Cash flow from operating activities for the full year was $13.5 million in 2016 versus $14.3 million in 2015. Liquidity, including availability under CDI's bank and credit facilities, totaled $125.5 million at December 31, 2016, versus $137.6 million at the end of 2015 and $120.6 million at September 30, 2016.

    Business Outlook and Strategy to Unlock CDI's Potential

    The Company expects revenue for the first quarter of 2017 to range from $180 million to $185 million. This guidance reflects slower activity experienced in the first part of the quarter, consistent with that experienced in the late part of the 2016 fourth quarter, followed by increased activity levels across multiple segments, including Enterprise Talent, beginning in late January. However, overall demand trends among large clients and programs remain uncertain.

    Entering 2016, the Company announced a strategy to create extraordinary outcomes for clients by delivering solutions based on skilled technical and professional talent. This strategy, which remains our focus, is based on four pillars of CDI strength:

    --  An ability to identify and recruit skilled technical talent, as
    evidenced by the Company's approximate four thousand internal and
    external billable employee hires in 2016;
    
    --  Deep industry and technical expertise aligned with positive secular
    trends in the technology, energy, industrial, aerospace and government
    sectors;
    
    --  A long-established capability to deliver complex technical solutions
    through project and managed services, with approximately two thousand
    technical specialists currently in-house; and
    
    --  A formidable, blue chip client base, with the Company's top 20
    commercial clients having an average relationship tenure of 14 years;
    sixteen of those top 20 clients are members of the domestic or global
    Fortune 500.
    

    During 2017, the Company is accelerating its transformation through increased sales and operational discipline. This discipline is embodied in five enterprise-wide programs currently being executed to accelerate growth and deliver improved profitability. These include:

    --  Increase client and vertical industry penetration through corporate
    strategic and key account management;
    
    --  Extend multiple engineering and technology service lines to the large
    federal government sector, including both civilian and defense agencies;
    
    --  Integrate our Specialty Talent and Technology Solutions units under the
    EdgeRock brand and pursue a coordinated go-to-market strategy around
    high-value IT applications, infrastructure and service management;
    
    --  Create a single talent acquisition Center of Excellence serving all CDI
    operations as an engine for service and client growth; and
    
    --  Unify operating platforms and support organizations to reduce cost and
    complexity while improving effectiveness throughout the enterprise.
    

    Webcast

    At 4:30 p.m. Eastern Time on March 8, 2017, Michael S. Castleman, President and Interim CEO, will host a webcast to discuss the fourth quarter and full year 2016 results and business outlook. The webcast can be accessed live, via the Internet, at www.cdicorp.com.

    About CDI

    CDI Corp. seeks to create extraordinary outcomes with our clients by delivering solutions based on skilled technical and professional talent. Our business is comprised of four segments: Enterprise Talent, Specialty Talent & Technology Solutions, Engineering Solutions and MRI. We provide engineering and information technology solutions encompassing managed, project and talent services. Our clients are in multiple industries, including energy, chemicals, infrastructure, aerospace, industrial equipment, technology, and also include municipal and state governments, and the U.S. Department of Defense. We have offices and delivery centers in the U.S. and Canada. In addition, we also provide recruiting and staffing services through our global MRINetwork((R)) of franchisees. Learn more at www.cdicorp.com.

    Caution Concerning Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, from time to time, we and our representatives may make statements that are forward-looking. All statements that address expectations or projections about the future, including, but not limited to, statements about our plans, strategies, adequacy of resources and future financial results (such as revenue, gross profit, operating profit, cash flow, and tax rate), are forward-looking statements. Some of the forward-looking statements can be identified by words like "anticipates," "believes," "expects," "may," "will," "could," "should," "intends," "plans," "estimates" and similar references to future periods. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions that are difficult to predict. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. Important factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to: weakness or volatility in general economic conditions and levels of capital spending by clients in the industries we serve; weakness or volatility in the financial and capital markets, which may result in the postponement or cancellation of our clients' projects or the inability of our clients to pay our fees; the termination of one or more major client contracts or projects; the uncertain timing and funding of new contract awards and renewals; a high concentration of our business with a few large clients; the failure to achieve the anticipated benefits of acquisitions, and difficulties in integrating acquired businesses with CDI; the inability to obtain favorable price and other terms for any acquisitions and divestitures we may do; delays or reductions in government spending; credit risks associated with our clients; competitive market pressures; foreign currency fluctuations; restrictions on the availability of funds and on our activities under our asset-based, secured credit facility; the availability, retention and cost of qualified labor; our level of success in attracting, training, and retaining qualified management personnel and other staff employees; changes in tax laws and other government regulations, including the impact of health care reform laws and regulations; the possibility of incurring liability for our business activities, including, but not limited to, the activities of our professional employees and our temporary employees; our performance on client contracts; negative outcome of pending and future claims and litigation; improper disclosure or loss of sensitive or confidential company, client, government, employee or candidate information, including personal data; and government policies, legislation or judicial decisions adverse to our businesses. More detailed information about these and other risks and uncertainties may be found in our filings with the United States Securities and Exchange Commission (SEC), particularly in the "Risk Factors" section in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2016. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We assume no obligation to update such statements, whether as a result of new information, future events or otherwise, except as required by law. Unless the context otherwise requires, all references herein to "CDI," the "Registrant," the "Company," "we," "us" or "our" are to CDI Corp. and its consolidated subsidiaries.

    Use of Non-GAAP Financial Measures

    This press release contains financial information calculated other than pursuant to U.S. Generally Accepted Accounting Principles (GAAP). In particular, it includes Adjusted EBITDA and Adjusted EBITDA Margin which are adjusted to exclude from net income (loss) attributable to CDI, interest, income taxes, depreciation and amortization expense, impairment charges, restructuring and other related costs, share-based compensation expense, leadership transition costs, loss on disposition, certain acquisition and litigation items, gain from the sale of a non-operating corporate asset, impairment related costs and sales and use tax recovery benefits and Adjusted EPS which excludes from diluted earnings per common share impairment charges, restructuring and other related costs, leadership transition costs, loss on disposition, certain acquisition and litigation items, amortization of acquired intangibles, gain on sale of non-operating asset, impairment related costs, sales and use tax recovery benefit and the related income tax effect. We present these as supplemental measures of performance.

    These non-GAAP measures have limitations as analytical tools, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Some of the limitations of Adjusted EBITDA and Adjusted EPS as analytical tools are: (i) these measures do not reflect all our cash expenditures, or future requirements, for capital expenditures or contractual commitments; (ii) these measures do not reflect changes in, or cash requirements for, our working capital needs; (iii) these measures do not reflect interest expense, or the cash requirements necessary to service interest or principal payments, on our debts; (iv) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized often will have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements; (v) share-based compensation is and will remain a key element of our overall long-term incentive compensation package, although we exclude it from Adjusted EBITDA as an expense when evaluating our ongoing operating performance for a particular period; (vi) these measures do not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of our ongoing operations; and (vii) other companies in our industry may calculate these measures differently than we do, limiting its usefulness as a comparative measure.

    We present these non-GAAP financial measures because we believe these assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures are also used by management in its evaluation of core operations and financial and operational decision-making.

    Financial Tables Follow

    CDI CORP. AND SUBSIDIARIES -------------------------- (Amounts in tables are in thousands, except per share amounts and percentages) (Unaudited) Three months ended Year ended December 31, December 31, Consolidated Statements of Operations: 2016 2015 2016 2015 -------------------------------------- ---- ---- ---- ---- Revenue $183,890 $236,553 $864,367 $985,494 Cost of services 147,673 191,896 702,247 800,593 ------- ------- ------- ------- Gross profit 36,217 44,657 162,120 184,901 Operating and administrative expenses (1), (2), (3) 38,498 49,863 177,535 187,433 Restructuring and other related costs (4) - 3,604 3,767 4,217 Impairment (5) - - - 21,537 Loss on disposition of business interests (6) - - 11,301 310 --- --- ------ --- Operating loss (2,281) (8,810) (30,483) (28,596) Other income (expense), net (275) (538) (988) 61 ---- ---- ---- --- Loss before income taxes (2,556) (9,348) (31,471) (28,535) Income tax expense (benefit) (7) (1,102) 7,766 102 8,551 ------ ----- --- ----- Net loss (1,454) (17,114) (31,573) (37,086) Less: Loss attributable to the noncontrolling interest - - - (83) Net loss attributable to CDI $(1,454) $(17,114) $(31,573) $(37,003) ======= ======== ======== ======== Earnings (loss) per common share: Basic and Diluted $(0.08) $(0.87) $(1.66) $(1.88) Weighted-average shares outstanding - Basic and Diluted 18,654 19,701 19,031 19,676

    December 31, Selected Balance Sheet Data: 2016 2015 ---------------------------- ---- ---- Cash and cash equivalents $3,165 $16,932 Accounts receivable, net 178,365 205,685 Total current assets 196,368 240,320 Total assets 289,292 339,097 Total current liabilities 80,870 103,783 Total CDI shareholders' equity 188,976 221,243

    Year ended December 31, Selected Cash Flow Data: 2016 2015 ------------------------ ---- ---- Net cash provided by operating activities $13,493 $14,265 Depreciation and amortization 10,300 11,679 Capital expenditures 7,591 7,940 Stocks repurchased under stock repurchase program 7,255 - Dividends paid to shareholders - 10,235

    Three months ended Year ended December 31, December 31, Selected Earnings and Other Financial Data: 2016 2015 2016 2015 ------------------------------------------- ---- ---- ---- ---- Gross margin 19.7% 18.9% 18.8% 18.8% Operating and administrative expenses as a percentage of revenue 20.9% 21.1% 20.5% 19.0% Operating margin (1.2)% (3.7)% (3.5)% (2.9)% Effective income tax rate (7) 43.1% (83.1)% (0.3)% (30.0)%

    Three months ended Year ended December 31, December 31, Selected Segment Data: 2016 2015 2016 2015 ---------------------- ---- ---- ---- ---- Enterprise Talent Revenue: North America Staffing $95,338 $113,277 $436,653 $490,986 UK Staffing - 25,005 59,302 104,977 --- Total revenue $95,338 $138,282 $495,955 $595,963 ======= ======== ======== ======== Gross profit $10,599 $16,177 $56,362 $71,928 Gross margin 11.1% 11.7% 11.4% 12.1% Operating profit (loss) (3), (4), (5), (6) $2,118 $238 $(7,504) $(1,448) Operating margin 2.2% 0.2% (1.5)% (0.2)% Specialty Talent and Technology Solutions Revenue: Specialty Talent $10,584 $10,242 $42,016 $10,242 Technology Solutions 7,887 7,873 32,915 31,188 ----- Total revenue $18,471 $18,115 $74,931 $41,430 ======= ======= ======= ======= Gross profit $5,660 $5,853 $22,108 $13,432 Gross margin 30.6% 32.3% 29.5% 32.4% Operating profit (loss) (1), (3), (4) $83 $(626) $(483) $731 Operating margin 0.4% (3.5)% (0.6)% 1.8% Engineering Solutions Revenue: Energy, Chemicals and Infrastructure (EC&I) $30,803 $38,888 $130,376 $175,232 Aerospace and Industrial Equipment (AIE) 11,402 13,692 49,238 59,881 Government Services 15,834 14,424 63,684 59,828 ------ ------ Total revenue $58,039 $67,004 $243,298 $294,941 ======= ======= ======== ======== Gross profit $14,098 $16,134 $59,210 $73,391 Gross margin 24.3% 24.1% 24.3% 24.9% Operating loss (2), (3), (4), (5) $(1,504) $(3,227) $(10,238) $(12,840) Operating margin (2.6)% (4.8)% (4.2)% (4.4)% Management Recruiters International (MRI) Revenue: Contract Staffing $9,267 $9,992 $38,252 $40,044 Royalties and Franchise Fees 2,775 3,160 11,931 13,116 ----- ----- ------ ------ Total revenue $12,042 $13,152 $50,183 $53,160 ======= ======= ======= ======= Gross profit $5,860 $6,493 $24,440 $26,150 Gross margin 48.7% 49.4% 48.7% 49.2% Operating profit (3), (4) $1,214 $1,055 $3,980 $6,012 Operating margin 10.1% 8.0% 7.9% 11.3%

    Three months ended Year ended December 31, December 31, Non-GAAP Financial Measures: 2016 2015 2016 2015 ---------------------------- ---- ---- ---- ---- Adjusted EBITDA (8) $498 $365 $(2,127) $13,184 Adjusted EBITDA margin (8) 0.3% 0.2% (0.2)% 1.3% Adjusted operating expenses (8) $35,701 $44,140 $164,338 $171,539 Adjusted EPS (8) $(0.06) $(0.06) $(0.26) $0.04

    (1) In the first quarter of 2016, the Company's Specialty Talent and Technology Solutions segment recorded a benefit to "Operating and administrative expenses" of $0.8 million for the reversal of the earnout liability related to the acquisition of EdgeRock Technologies, LLC. (2) In the nine months ended September 30, 2016, the Company's Engineering Solutions segment recorded a charge to "Operating and administrative expenses" of $1.0 million related to project-related disputes. (3) The following table summarizes the amount of depreciation and amortized recognized by reporting segment for the indicated periods:

    Three months ended Year ended December 31, December 31, 2016 2015 2016 2015 ---- ---- ---- ---- Depreciation and amortization: Enterprise Talent $161 $328 $1,070 $1,253 Specialty Talent and Technology Solutions 456 2,250 2,632 2,483 Engineering Solutions 1,045 1,277 4,630 5,724 MRI 70 68 275 295 Corporate 457 445 1,693 1,924 ----- ----- Total Depreciation and amortization $2,189 $4,368 $10,300 $11,679 ====== ====== ======= =======

    (4) The following table summarizes the amount of "Restructuring and other related costs" in the consolidated statements of operations related to certain restructuring plans by reporting segment for the indicated periods:

    Three months ended Year ended December 31, December 31, 2016 2015 2016 2015 ---- ---- ---- ---- Restructuring and other related costs: Enterprise Talent $ - $706 $433 $1,084 Specialty Talent and Technology Solutions - 130 215 130 Engineering Solutions - 1,918 2,690 2,153 MRI - - 206 - Corporate - 850 223 850 --- --- --- --- Total restructuring and other related costs $ - $3,604 $3,767 $4,217 === === ====== ====== ======

    (5) In the third quarter of 2015, the Company recorded an aggregate charge of $21.5 million to "Impairment" related to the impairment of goodwill comprised of $10.7 million in Enterprise Talent and $10.4 million in Engineering Solutions and $0.5 million related to the impairment of certain fixed assets in Engineering Solutions. (6) In the third quarter of 2016, the Company's Enterprise Talent segment recorded a loss of $11.3 million related to the loss on disposition of CDI AndersElite Limited (Anders), the Company's UK staffing and recruitment business. (7) In the fourth quarter of 2015, the Company recorded a valuation allowance for deferred tax assets in the amount of $11.8 million. During 2016 and 2015, the Company recorded valuation allowances for deferred tax assets in the amounts of $11.0 million and $15.0 million, respectively. (8) Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted operating expenses and Adjusted EPS are non-GAAP financial measures. Adjusted EBITDA is calculated by excluding from net income loss attributable to CDI, interest, income taxes, depreciation and amortization expense, impairment, restructuring and other related costs, share-based compensation expense, leadership transition costs, loss on disposition of business interests, acquisition-related costs, reserve for project-related disputes, earnout adjustments, gain on sale of non-operating corporate asset, impairment related costs and sales and use tax recovery benefit. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted operating expenses excludes from operating expenses, which is the sum of "Operating and administrative expenses", "Restructuring and other related costs", "Impairment" and "Loss on disposition of business interests" in the consolidated statements of operations, depreciation and amortization expense, impairment, restructuring and other related costs, share-based compensation expense, leadership transition costs, loss on disposition of business interests, acquisition-related costs, reserve for project- related disputes, earnout adjustments, impairment related costs and sales and use tax recovery benefit. Adjusted EPS excludes from diluted earnings per common share, impairment, restructuring and other related costs, leadership transition costs, loss on disposition of business interests, acquisition-related costs, amortization of acquired intangibles, reserve for project-related disputes, earnout adjustments, gain on sale of non-operating corporate asset, impairment related costs, sales and use tax recovery benefit and related income tax effect, including certain deferred tax adjustments. See reconciliation of these non-GAAP financial measures to U.S. GAAP financial measures below.

    Reconciliations of non-GAAP Financial Measures to U.S. GAAP Financial Measures: ------------------------------------------------------------------------------- Three months ended Year ended December 31, December 31, 2016 2015 2016 2015 ---- ---- ---- ---- Net loss attributable to CDI to Adjusted EBITDA: Net loss attributable to CDI $(1,454) $(17,114) $(31,573) $(37,003) Interest expense, net 257 386 1,079 518 Income tax expense (1,102) 7,766 102 8,551 Depreciation and amortization 2,189 4,368 10,300 11,679 Impairment (a) - - - 21,537 Restructuring and other related costs (b) - 3,604 3,767 4,217 Share-based compensation (c) 483 499 1,994 2,202 Leadership transition (d) - - 475 113 Loss on disposition of business interests (e) - - 11,301 310 Acquisition-related (f) 125 1,231 274 2,275 Reserve for project-related disputes (g) - - 1,000 - Earnout adjustments (h) - - (846) - Gain on sale of non-operating corporate asset (i) - - - (840) Impairment related costs (j) - 150 - 150 Sales and use tax recovery benefit (k) - (525) - (525) Adjusted EBITDA $498 $365 $(2,127) $13,184 ==== ==== ======= ======= Adjusted EBITDA margin 0.3% 0.2% (0.2)% 1.3% Operating expenses to Adjusted operating expenses: Operating expenses (l) 38,498 53,467 192,603 213,497 Depreciation and amortization 2,189 4,368 10,300 11,679 Impairment (a) - - - 21,537 Restructuring and other related costs (b) - 3,604 3,767 4,217 Share-based compensation (c) 483 499 1,994 2,202 Leadership transition (d) - - 475 113 Loss on disposition of business interests (e) - - 11,301 310 Acquisition-related (f) 125 1,231 274 2,275 Reserve for project-related disputes (g) - - 1,000 - Earnout adjustments (h) - - (846) - Impairment related costs (j) - 150 - 150 Sales and use tax recovery benefit (k) - (525) - (525) --- ---- --- ---- Adjusted operating expenses $35,701 $44,140 $164,338 $171,539 ======= ======= ======== ======== EPS to Adjusted EPS: Earnings per common share - diluted $(0.08) $(0.87) $(1.66) $(1.88) Impairment (a) - - - 1.09 Restructuring and other related costs (b) - 0.18 0.20 0.21 Leadership transition (d) - - 0.03 0.01 Loss on disposition of business interests (e) - - 0.59 0.01 Acquisition-related (f) 0.01 0.06 0.01 0.12 Amortization of acquired intangibles (m) 0.02 0.11 0.12 0.11 Reserve for project-related disputes (g) - - 0.05 - Earnout adjustments (h) - - (0.04) - Gain on sale of non-operating corporate asset (i) - - - (0.04) Impairment related costs (j) - 0.01 - 0.01 Sales and use tax recovery benefit (k) - (0.03) - (0.03) Income tax effect (n) (0.01) 0.48 0.44 0.43 ----- ---- ---- ---- Adjusted EPS $(0.06) $(0.06) $(0.26) $0.04 ====== ====== ====== =====

    (a) Represents "Impairment" in the consolidated statements of operations related to the impairment of goodwill, certain fixed assets, definite- lived intangibles and other assets. (b) Represents "Restructuring and other related costs" in the consolidated statements of operations related to restructuring plans undertaken during 2013, 2014 and 2015. (c) Represents share-based compensation expense included in "Operating and administrative expenses" in the consolidated statements of operations. (d) Represents charges associated with the CEO and other executive leadership changes included in "Operating and administrative expenses" in the consolidated statements of operations. (e) Represents "Loss on disposition of business interests" in the consolidated statements of operation related to the disposition of the Company's UK Staffing and recruitment business in the Company's Enterprise talent segment and the controlling interest in a Mexico- based engineering design company in the Company's Engineering Solutions segment. (f) Represents incremental costs associated with the acquisition of a business included in "Operating and administrative expenses" in the consolidated statements of operations. (g) Represents the impact to "Operating and administrative expenses" in the consolidated statements of operations related to an increase in reserves for project-related disputes. (h) Represents a benefit from earnout adjustments associated with the acquisition of a business included in "Operating and administrative expenses" in the consolidated statement of operations. (i) Represents the gain on sale of non-operating corporate asset included in "Other income (expense), net" in the consolidated statements of operations. (j) Represents third-party valuation and related consulting fees associated with the impairment included in "Operating and administrative expenses" in the consolidated statements of operations. (k) Represents a net recovery on settlement of 2007 to 2011 Pennsylvania sales and use tax included in "Operating and administrative expenses" in the consolidated statements of operations. (l) Operating expenses includes "Operating and administrative expenses", "Restructuring and other related costs", "Impairment" and "Loss on disposition of business interests" in the consolidated statements of operations. (m) Represents the EPS impact to "Operating and administrative expense" in the consolidated statements of operations related to the amortization of definite-lived intangibles identified as a result of acquisitions completed during the fourth quarter of 2015. (n) Represents the aggregate income tax effect of each of the adjustments to diluted earnings per common share based on the specific income tax effect, including any related deferred tax adjustments. Also, in the third quarter of 2016 and fourth quarter of 2015, the Company recorded valuation allowances for deferred tax assets in the amounts of $8.9 million and $11.8 million, respectively.

    Summary of Historical Impact of Anders on Reported Results Supplemental Non-GAAP Financial Measures: ----------------------------------------- Three months ended Year ended December 31, December 31, 2016 2015 2016 2015 ---- ---- ---- ---- Revenue excluding Anders (i) $183,890 $211,548 $805,065 $880,517 Gross Profit excluding Anders (i) 36,217 40,584 152,362 167,322 Operating and administrative expenses excluding Anders (i), (ii) 38,498 44,925 165,993 167,930 Depreciation and amortization excluding Anders (i) 2,189 4,198 9,862 11,057

    (i) Revenue excluding Anders, Gross profit excluding Anders, Operating and administrative expenses excluding Anders, and Depreciation and amortization excluding Anders are non-GAAP financial measures. Revenue, Gross profit, Operating and administrative expenses and Depreciation and amortization excluding Anders, excludes from the Company's consolidated revenue, gross profit, operating and administrative expenses and depreciation and amortization, the revenue, gross profit, operating and administrative expenses, depreciation and amortization of UK-based AndersElite Limited. See reconciliation of these supplemental non-GAAP financial measures to U.S. GAAP financial measures below. (ii) Operating and administrative expenses include depreciation and amortization expense, share-based compensation expense, leadership transition costs, acquisition-related costs, reserve for project-related disputes and earnout adjustments as detailed in the above reconciliation of Operating expenses to Adjusted operating expenses.

    Reconciliations of Supplemental non-GAAP Financial Measures to U.S. GAAP Financial Measures: -------------------------------------------------------------------------------------------- Three months ended Year ended December 31, December 31, 2016 2015 2016 2015 ---- ---- ---- ---- Revenue to Revenue excluding Anders: Revenue $183,890 $236,553 $864,367 $985,494 Anders Revenue - 25,005 59,302 104,977 --- ------ ------- Revenue excluding Anders $183,890 $211,548 $805,065 $880,517 ======== ======== ======== ======== Gross Profit to Gross Profit excluding Anders: Gross profit $36,217 $44,657 $162,120 $184,901 Anders Gross profit - 4,073 9,758 17,579 --- ----- ----- ------ Gross profit excluding Anders $36,217 $40,584 $152,362 $167,322 ======= ======= ======== ======== Operating and Administrative Expenses to Operating and Administrative Expenses excluding Anders: Operating and administrative expenses (*) $38,498 $49,863 $177,535 $187,433 Anders Operating and administrative expenses - 4,938 11,542 19,503 --- ----- ------ ------ Operating and administrative expenses excluding Anders $38,498 $44,925 $165,993 $167,930 ======= ======= ======== ======== Depreciation and Amortization to Depreciation and Amortization excluding Anders: Depreciation and amortization $2,189 $4,368 $10,300 $11,679 Anders Depreciation and amortization - 170 438 622 --- --- Depreciation and amortization excluding Anders $2,189 $4,198 $9,862 $11,057 ====== ====== ====== =======

    (*) Operating and administrative expenses include depreciation and amortization expense, share-based compensation expense, leadership transition costs, acquisition-related costs, reserve for project-related disputes and earnout adjustments as detailed in the above reconciliation of Operating expenses to Adjusted operating expenses.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cdi-corp-reports-fourth-quarter-and-full-year-2016-results-300420536.html

    CDI Corp.

    CONTACT: Investor Relations: Vance Edelson, ICR LLC, 215-278-8230,
    InvestorRelations@CDICorp.com

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




    Turtle Beach Reports Fourth Quarter And Full Year 2016 Results In-Line With Revenue Outlook, Exceeding EPS And Adjusted EBITDA

    SAN DIEGO, March 8, 2017 /PRNewswire/ -- Turtle Beach Corporation , a leading gaming headset and audio accessory company, reported financial results for the fourth quarter and full year ended December 31, 2016.

    Fourth Quarter Summary vs. Year-Ago Quarter:

    --  Net revenue decreased 3% (flat in constant currency) to $82.2 million
    with new-gen headset sales up 8%.
    --  Gross margin rose 760 basis points to 36.7% with headset gross margin up
    630 basis points to 37.2%.
    --  Operating expenses, excluding a $49.8 million goodwill impairment charge
    in the year-ago quarter, were reduced by 19% to $14.9 million.
    --  Net income improved significantly to $12.2 million, or $0.25 per share,
    compared to a loss of $(46.5) million, or $(1.09) per share. The
    year-ago quarter included a $49.8 million goodwill impairment charge.
    --  Adjusted EBITDA improved 63% to $16.1 million.
    

    "Our fourth quarter closed out a strong year highlighted by solid demand for our entry-level RECON series headsets, our new STEALTH 520 and STEALTH 420X+ wireless headsets and good overall performance across the rest of our line," said Juergen Stark, CEO, Turtle Beach Corporation. "In fact, this strength continued to drive our leading market share higher. Recent NPD data confirmed that our 2016 unit share was up 90 basis points to 34.2%, while our revenue share rose slightly to 42.0% compared to 41.9% in 2015.

    "These results were achieved despite the overall console gaming market slowing significantly and uncharacteristically this past holiday season. We believe lower sales of marquee games, as well as the November 2016 debut of PlayStation( (R))4 Pro and the yet-to-be-announced launch date of Xbox Scorpio, disrupted the consumer's typical holiday purchasing behavior. Despite this softening, fourth quarter profitability exceeded our outlook due to a favorable mix of new-gen to old-gen sales, gross margin-enhancing supply chain and logistics improvements, as well as prudent operating expense management across the entire business.

    "In the fourth quarter we converted much of our HyperSound business to a license model and wound down operating expenses to under $300,000 per month. While we are still pursuing additional revenue-generating opportunities, including licensing the technology for HyperSound Glass and other applications, we plan to continue to reduce operating expenses to a point where it becomes immaterial to our overall business.

    "Our goals throughout 2017 will be focused on further improving our overall profitability, which we believe will allow us to continue to strengthen our balance sheet. We believe we have significant growth opportunities in virtual reality, livestreaming, PC gaming and expansion throughout China that we expect to continue to cultivate throughout the year, with more significant investment planned for 2018."

    Fourth Quarter 2016 Financial Results

    Net revenue in the fourth quarter was $82.2 million compared to $84.6 million in the year-ago quarter, and on a constant currency basis, net revenue was essentially unchanged. New-gen headset sales in the fourth quarter were up 8%.

    Gross margin in the fourth quarter was up 760 basis points to 36.7% compared to 29.1% in the year-ago quarter. Gross margin in the headset segment increased 630 basis points to 37.2% due to higher margin new-gen headsets contributing 94% of revenues in the fourth quarter, up from 86% during the same period in 2015, as well as supply chain and logistics improvements.

    Operating expenses in the fourth quarter, excluding a $49.8 million goodwill impairment charge in the year-ago quarter, were reduced by 19% to $14.9 million compared to $18.3 million (excluding the charge mentioned above) in the fourth quarter of 2015. The decline was due to continued cost management across the business. Including the year-ago impairment charge, operating expenses in the fourth quarter of 2015 were $68.1 million.

    Net income in the fourth quarter improved significantly to $12.2 million, or $0.25 per diluted share, compared to a net loss of $(46.5) million, or $(1.09) per diluted share, in the year-ago quarter. Excluding the aforementioned 2015 impairment charge, net income in the fourth quarter of 2015 was $3.3 million, or $0.08 per diluted share. The year-over-year increase, even when excluding the impairment charge, was due to the aforementioned gross margin improvements and continued cost management. The fourth quarter of 2016 included approximately 6.8 million incremental shares compared to the year ago quarter, primarily due to the February 2016 follow-on public offering of common stock and concurrent private placement.

    Adjusted EBITDA (as defined below in "Non-GAAP Financial Measures") on a consolidated basis increased 63% to $16.1 million compared to $9.9 million in the year-ago quarter. The improvement was primarily driven by strong new-gen headset sales and successful cost management initiatives and supply chain and logistics improvements. Adjusted EBITDA for the headset business was up 23% to $17.2 million in the fourth quarter compared to $14.0 million in the year-ago quarter.

    Full Year 2016 Financial Results

    Net revenue in 2016 increased 7% (up 9% in constant currency) to $174.0 million compared to $162.7 million in 2015. The increase was due to the success of the new-gen headset portfolio.

    Gross margin in 2016 was 24.5% compared to 25.0% in 2015. The decline was due to non-cash intangible asset amortization costs associated with the HyperSound Clear(TM) 500P launch, as well as a $7.1 million inventory reserve associated with the HyperSound restructuring. Gross margin in the headset segment increased 540 basis points to 31.9% from 26.5% due to higher margin new-gen headsets contributing 92% of revenues in 2016, up from 77% in 2015, as well as the supply chain and logistics improvements.

    Operating expenses in 2016 were comprised of headset-related expenses of $46.6 million, HyperSound impairment of $63.2 million and HyperSound-related expenses of $10.5 million. Compared to 2015, headset operating expenses declined 10% and HyperSound expenses excluding the impairment decreased 24% due to continued cost management across the business.

    Net loss in 2016 was $(87.2) million, or $(1.79) per diluted share, compared to a net loss of $(82.9) million, or $(1.96) per diluted share in 2015. Excluding the goodwill and intangible asset impairment charges, HyperSound restructuring reserves and approximately $0.6 million for other restructuring charges, net loss in 2016 was $(16.2) million, or $(0.33) per diluted share. This compares to a loss of $(24.2) million, or $(0.57) per diluted share in 2015, which excludes the goodwill impairment charge, as well as a $8.5 million non-cash valuation allowance and $0.4 million for other restructuring charges. This improvement was driven by the success of the new-gen headsets and prudent cost management.

    Adjusted EBITDA (as defined below in "Non-GAAP Financial Measures") was up significantly to $4.0 million, including investments of approximately $10.4 million in the HyperSound business, compared to adjusted EBITDA of $(11.4) million in 2015, which included $13.8 million in HyperSound investments. Adjusted EBITDA for the headset business increased over 500% to $14.4 million in 2016 compared to $2.4 million in 2015.

    Balance Sheet Highlights

    At December 31, 2016, the Company had approximately $6.2 million of cash and cash equivalents compared to $7.1 million at December 31, 2015. As a result of the Company's $60 million revolving credit facility, Turtle Beach generally does not hold a large cash balance.

    As of December 31, 2016, total outstanding debt principal was $69.7 million, which includes $35.9 million of revolving debt, $14.4 million in term loans and $19.4 million in subordinated notes, compared to $68.1 million in total outstanding principal debt at December 31, 2015.

    2017 Outlook

    For the first quarter of 2017, Turtle Beach expects net revenue to range between $12-$13 million compared to $24.0 million in the first quarter of 2016. This reflects the impact of higher-than-normal channel inventory due to the soft 2016 holiday retail gaming sales environment. Adjusted EBITDA is expected to be approximately $(8.5) million compared to $(6.3) million in the first quarter of 2016. Net loss for the first quarter is expected to range between $(0.24)-$(0.26) per diluted share, compared to a net loss of $(0.26) per diluted share in the first quarter of 2016.

    For the full year 2017, Turtle Beach expects net revenue to range between $155-$160 million compared to $174.0 million in 2016. This reflects the higher channel inventory impact on first quarter revenue and an approximate $6-$7 million year-over-year decline in old-gen headset sales, bringing this business to a close in 2017. This also assumes no material revenue from HyperSound. The Company expects to generate $10-$12 million in consolidated adjusted EBITDA in 2017 compared to $4.0 million in 2016. This includes an approximately $1 million expected adjusted EBITDA loss from HyperSound in 2017. Net loss in 2017 is expected to range between $(0.08)-$(0.12) per diluted share based upon 49.3 million diluted shares outstanding, compared to a net loss of $(1.79) per diluted share in 2016 (or a loss of $(0.33) per diluted share in 2016 excluding the goodwill and intangible asset impairment charges, HyperSound restructuring reserves and other restructuring charges).

    With respect to the Company's adjusted EBITDA outlook for the first quarter and full year 2017, a reconciliation to its net loss outlook for the same periods has not been provided because of the variability, complexity and lack of visibility with respect to certain reconciling items between adjusted EBITDA and net loss, including other income (expense), provision for income taxes and stock-based compensation. These items cannot be reasonably and accurately predicted without the investment of undue time, cost and other resources and, accordingly, a reconciliation of the Company's adjusted EBITDA outlook to its net loss outlook for such periods is not available without unreasonable effort. These reconciling items could be material to the Company's actual results for such periods.

    Conference Call Details

    Turtle Beach Corporation will hold a conference call today, March 8, 2017, at 2:00 p.m. Pacific time (5:00 p.m. Eastern) to discuss its fourth quarter and full year 2016 results.

    CEO Juergen Stark and CFO John Hanson will host the call, followed by a question and answer session.

    Conference Call Details:
    Date: Wednesday, March 8, 2017
    Time: 5:00 p.m. ET / 2:00 p.m. PT
    Toll-Free Dial-in Number: (877) 303-9855
    International Dial-in Number: (408) 337-0154
    Conference ID: 75391856

    Please dial-in 5-10 minutes prior to the start time of the conference call and an operator will register your name and organization. If you have any difficulty with the conference call, please contact Liolios at (949) 574-3860.

    The conference call will be broadcast live and available for replay here and via the investor relations section of the Company's website at www.turtlebeachcorp.com.

    A replay of the conference call will be available after 8:00 p.m. PT on the same day through March 15, 2017.

    Toll-Free Replay Number: (855) 859-2056
    International Replay Number: (404) 537-3406
    Replay ID: 75391856

    Non-GAAP Financial Measures

    In addition to its reported results, the Company has included in this earnings release certain financial results, including adjusted EBITDA and constant currency revenue, that the Securities and Exchange Commission defines as "non-GAAP financial measures." Management believes that such non-GAAP financial measures, when read in conjunction with the Company's reported results, can provide useful supplemental information for investors analyzing period to period comparisons of the Company's results. "Adjusted EBITDA" is defined by the Company as net income (loss) before interest, taxes, depreciation and amortization, stock- based compensation (non-cash), and certain special items that we believe are not representative of core operations. Constant currency revenue is measured by applying prior year currency exchange rates to current year results to exclude the impact of translation at different rates from period to period. See a reconciliation of GAAP results to adjusted EBITDA and constant currency revenue included below for the three and twelve months ended December 31, 2016 and 2015.

    About Turtle Beach Corporation

    Turtle Beach Corporation (http://corp.turtlebeach.com) designs innovative, market-leading audio products. Under its award-winning Turtle Beach brand (www.turtlebeach.com), the Company is the clear market share leader with its wide selection of acclaimed gaming headsets for use with Xbox One and PlayStation((R))4, as well as personal computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and hearing healthcare. The Company's shares are traded on the NASDAQ Exchange under the symbol: HEAR.

    Cautionary Note on Forward-Looking Statements
    This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "project", "intend" and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current belief, as well as assumptions made by, and information currently available to, management.

    While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to the Company's liquidity, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, the outcome of our HyperSound strategic review process and other factors discussed in our public filings, including the risk factors included in the Company's most recent Annual Report on Form 10-K and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

    All trademarks are the property of their respective owners.

    Turtle Beach Corporation Consolidated Balance Sheets (in thousands, except par value and share amounts) Table 1. December 31, 2016 December 31, 2015 ------------- ----------------- ASSETS (unaudited) Current Assets: Cash and cash equivalents $6,183 $7,114 Accounts receivable, net 54,633 57,192 Inventories 21,698 26,146 Prepaid income taxes - 260 Prepaid expenses and other current assets 4,121 4,191 ----- ----- Total Current Assets 86,635 94,903 Property and equipment, net 4,311 6,859 Goodwill - 31,152 Intangible assets, net 1,618 37,956 Deferred income taxes 543 - Other assets 1,693 1,590 Total Assets $94,800 $172,460 ======= ======== LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Revolving credit facilities $35,905 $32,453 Term loan 2,647 4,814 Accounts payable 11,927 17,680 Other current liabilities 16,414 14,236 ------ ------ Total Current Liabilities 66,893 69,183 Term loans, long-term portion 10,442 12,174 Series B redeemable preferred stock 17,480 16,145 Deferred income taxes - 4 Subordinated notes -related party 17,881 15,365 Other liabilities 2,800 2,937 Total Liabilities 115,496 115,808 ------- ------- Commitments and Contingencies Stockholders' Equity Common stock, $0.001 par value -100,000,000 shares authorized; 49,251,336 and 42,529,502 shares issued and outstanding as of December 31, 2016 and 2015, respectively 49 43 Additional paid-in capital 146,615 136,693 Accumulated deficit (166,800) (79,618) Accumulated other comprehensive loss (560) (466) ---- ---- Total Stockholders' Equity (Deficit) (20,696) 56,652 ------- ------ Total Liabilities and Stockholders' Equity (Deficit) $94,800 $172,460 ======= ========

    Turtle Beach Corporation Consolidated Statements of Operations (in thousands, except share and per-share data) (unaudited) Table 2. Three Months Ended Year Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 ------------- ----------------- ----------------- ----------------- Net Revenue $82,204 $84,559 $173,978 $162,747 Cost of Revenue 51,996 59,950 131,368 122,056 Gross Profit 30,208 24,609 42,610 40,691 ------ ------ ------ ------ Operating expenses: Selling and marketing 8,835 9,980 28,572 31,829 Research and development 1,558 2,915 8,259 11,556 General and administrative 4,419 5,360 19,580 21,484 Goodwill and other intangible asset impairment - 49,822 63,236 49,822 Business transaction costs - - - - Restructuring charges 100 63 664 399 --- --- --- --- Total operating expenses 14,912 68,140 120,311 115,090 ------ ------ ------- ------- Operating income (loss) 15,296 (43,531) (77,701) (74,399) Interest expense 2,116 1,941 7,447 5,099 Other non-operating expense, net 1,026 387 2,421 1,016 Loss before income tax expense (benefit) 12,154 (45,859) (87,569) (80,514) Income tax expense (benefit) (47) 677 (387) 2,393 Net income (loss) $12,201 $(46,536) $(87,182) $(82,907) ======= ======== ======== ======== Net income (loss) per share: Basic $0.25 $(1.09) $(1.79) $(1.96) Diluted $0.25 $(1.09) $(1.79) $(1.96) Weighted average number of shares: Basic 49,250 42,518 48,592 42,269 Diluted 49,311 42,518 48,592 42,269

    Turtle Beach Corporation Reconciliation of GAAP and Non-GAAP Measures (in thousands, except per-share data) (unaudited) Table 3. Three Months Ended Year Ended December 31, December 31, December 31, December 31, 2016 2015 2016 2015 ---- ---- ---- ---- Net Income (Loss) ---------------- GAAP Net Income (Loss) $12,201 $(46,536) $(87,182) $(82,907) Goodwill and intangible asset impairment - 49,822 63,236 49,822 HyperSound inventory reserve - - 7,079 - Restructuring charges 100 63 664 399 Tax Valuation Allowance - - - 8,528 Non-GAAP Earnings 12,301 3,349 (16,203) (24,158) ------ ----- ------- ------- Diluted Earnings Per Share -------------------------- GAAP - Diluted $0.25 $(1.09) $(1.79) $(1.96) Goodwill and intangible asset impairment $ - $1.17 $1.30 $1.18 HyperSound inventory reserve $ - $ - $0.15 $ - Restructuring charges $ - $ - $0.01 $0.01 Tax Valuation Allowance $ - $ - $ - $0.20 --- --- Non-GAAP - Diluted $0.25 $0.08 $(0.33) $(0.57) ----- ----- ------ ------ December 31, Three Months Ended Year Ended ------------------ ---------- Constant Currency Reconciliation -------------------------------- 2015 Revenue (GAAP) $84,559 $162,747 2016 Revenue (GAAP) $82,204 $173,978 Percentage Change Y/Y (GAAP) (3)% 7% Constant Currency Impact $2,717 $3,506 Percentage Change Y/Y -% 9%

    Turtle Beach Corporation GAAP to Adjusted EBITDA Reconciliation (in thousands) (unaudited) Table 4. Three Months Ended December 31, 2016 As Adj Adj Adj Adj Reported Depreciation Amortization Stock Compensation Other (1) EBITDA Net Revenue $82,204 $ - $ - $ - $ - $82,204 Cost of Revenue 51,996 (151) - (159) - 51,686 ------ ---- --- ---- --- ------ Gross Profit 30,208 151 - 159 - 30,518 Operating Expense 14,912 (729) (100) (579) (17) 13,405 ------ ---- ---- ---- --- ------ Operating income 15,296 880 100 738 17 17,113 Interest expense 2,116 Other non-operating expense, net 1,026 1,026 ----- ----- Earnings before income tax expense 12,154 Income tax benefit (47) --- Net income $12,201 Adjusted EBITDA $16,087 ======= ======= Year Ended December 31, 2016 As Adj Adj Adj Adj Reported Depreciation Amortization Stock Compensation Other (1) EBITDA Net Revenue $173,978 $ - $ - $ - $ - $173,978 Cost of Revenue 131,368 (571) (3,660) (557) (7,079) 119,501 ------- ---- ------ ---- ------ ------- Gross Profit 42,610 571 3,660 557 7,079 54,477 Operating Expense 120,311 (4,496) (468) (3,403) (63,817) 48,045 ------- ------ ---- ------ ------- ------ Operating income (loss) (77,701) 5,067 4,128 3,960 70,896 6,432 Interest expense 7,447 Other non-operating expense, net 2,421 2,421 ----- ----- Loss before income tax expense (87,569) Income tax benefit (387) ---- Net loss $(87,182) Adjusted EBITDA $4,011 ======== ====== (1) Other includes goodwill and other intangible assets impairment, business transition costs and restructuring charges.

    Table 4. (continued) Three Months Ended December 31, 2015 As Adj Adj Adj Other (2) Adj Reported Depreciation Amortization Stock Compensation EBITDA Net Revenue $84,559 $ - $ - $ - $ - $84,559 Cost of Revenue 59,950 (262) (1,121) (162) - 58,405 ------ ---- ------ ---- --- ------ Gross Profit 24,609 262 1,121 162 - 26,154 Operating Expense 68,140 (1,096) (208) (1,087) (49,885) 15,864 ------ ------ ---- ------ ------- ------ Operating income (loss) (43,531) 1,358 1,329 1,249 49,885 10,290 Interest expense 1,941 Other non-operating expense, net 387 387 --- --- Earnings before income tax expense (45,859) Income tax expense 677 --- Net loss $(46,536) Adjusted EBITDA $9,903 ======== ======

    Year Ended December 31, 2015 As Adj Adj Adj Other (2) Adj Reported Depreciation Amortization Stock Compensation EBITDA Net Revenue $162,747 $ - $ - $ - $ - $162,747 Cost of Revenue 122,056 (765) (1,176) (889) - 119,226 ------- ---- ------ ---- --- ------- Gross Profit 40,691 765 1,176 889 - 43,521 Operating Expense 115,090 (5,136) (839) (5,008) (50,221) 53,886 ------- ------ ---- ------ ------- ------ Operating income (loss) (74,399) 5,901 2,015 5,897 50,221 (10,365) Interest expense 5,099 Other non-operating expense, net 1,016 1,016 ----- ----- Loss before income tax benefit (80,514) Income tax expense 2,393 ----- Net loss $(82,907) Adjusted EBITDA $(11,381) ======== ======== (2) Other includes Goodwill impairment and Restructuring charges.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/turtle-beach-reports-fourth-quarter-and-full-year-2016-results-in-line-with-revenue-outlook-exceeding-eps-and-adjusted-ebitda-300420566.html

    Turtle Beach Corporation

    CONTACT: For Investor Information, Contact: Cody Slach, Investor
    Relations, Liolios, 949.574.3860, hear@liolios.com; For Media Information,
    Contact: MacLean Marshall, Sr. Director - Brand & PR/Communications, Turtle
    Beach Corp., 858.914.5093, maclean.marshall@turtlebeach.com

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




    Scientific Games Signs Exclusive James Bond Licensing DealCompany To Leverage First-Ever James Bond Omni-Channel License: Across Gaming, Lottery and Social Channels

    LAS VEGAS, March 8, 2017 /PRNewswire/-- Scientific Games Corporation ("Scientific Games" or the "Company") today announced a license agreement for the James Bond franchise, spanning land-based gaming, lottery and social slots.

    http://photos.prnewswire.com/prnvar/20160203/329306LOGO

    The exclusive agreement with EON Productions Limited, Danjaq, LLC and MGM Interactive Inc., a subsidiary of Metro-Goldwyn-Mayer Inc., gives Scientific Games the rights to leverage all past and future iconic James Bond films, as well as the film's talent portraying James Bond.

    With the industry's broadest product portfolio and a large library of engaging, player-favorite games, Scientific Games will capitalize on the James Bond experience across its omni-channel portfolio.

    Scientific Games Chief Executive Officer Kevin Sheehan said, "The Bond franchise is clearly a long sought-after and incredibly exciting brand for our industry. James Bond is synonymous with action, excitement, and next-generation technology. We look forward to harnessing the power of the Bond brand to drive innovation across the Company in the years ahead."

    Ronald O. Perelman, Chairman of Scientific Games' Board of Directors, said, "We have been excited about this license opportunity for a very long time and are thrilled that Kevin Sheehan and his team at Scientific Games were able to secure the exclusive licensing rights."

    Scientific Games expects to showcase the first James Bond-themed slot games at the Global Gaming Expo October 3-5, 2017 in Las Vegas.

    (C) 2017 Scientific Games Corporation. All Rights Reserved.

    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 shufflers; 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 ScientificGames.com.

    About Albert R. Broccoli's EON Productions
    EON Productions Limited and Danjaq LLC are wholly owned and controlled by the Broccoli/Wilson family. Danjaq is the US based company that co-owns, with Metro-Goldwyn-Mayer Studios, the copyright in the existing James Bond films and controls the right to produce future James Bond films as well as all worldwide merchandising. EON Productions, an affiliate of Danjaq, is the UK based production company which makes the James Bond films. The 007 franchise has produced twenty four films since 1962.

    About Metro-Goldwyn-Mayer
    Metro-Goldwyn-Mayer is a leading entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world's deepest libraries of premium film and television content. In addition, MGM has investments in numerous television channels. For more information, visit www.mgm.com.

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

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

    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 on March 3, 2017 (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.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/scientific-games-signs-exclusive-james-bond-licensing-deal-300420181.html

    Photo: http://photos.prnewswire.com/prnh/20160203/329306LOGO Scientific Games Corporation

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




    Hyve Solutions Announces New Rack and Server Solutions Supporting Open Compute Project Initiatives

    SANTA CLARA, Calif., March 8, 2017 /PRNewswire/ -- (from Open Compute Project U.S. Summit 2017) Hyve Solutions Corporation, a wholly owned subsidiary of SYNNEX Corporation and leading Platinum Open Compute Project Solutions Provider, is showcasing at the 2017 Open Compute Summit a new and innovative 48V OCP Open Rack with a single bus bar designed for the masses, and is previewing closed-box demos of server solutions based on the next-generation Intel(R) Xeon(R) processor (codename Skylake).

    Based upon the Open Rack Standard V2.0, Hyve Solutions has developed a shallow depth (762mm) rack design that provides higher levels of power efficiency with a simplified electrical design. The 48V rack-level power sub-system transmits DC power to the bus bar, providing direct power to rack equipment and eliminating the need for technicians to access the rear of the rack to disconnect power prior to servicing equipment. As a safety element, bus bar covers protect users from undesired electrical contact when the rack is in operation. Additionally, a 48V Lithium Ion battery unit provides backup power to the rack during power outages. Several battery units with N+1 redundancy can be stacked to provide sufficient back-up time based upon customer power requirements.

    To complement the new 48V Open Rack, Hyve Solutions has been developing a new range of Hyve Solutions Ambient Series server solutions based on the next-generation Intel(R) Xeon(R) processor (codename Skylake), featuring Intel(R) Advanced Vector Extension 512 (Intel(R) AVX-512) and Intel(R) Resource Director Technology (Intel(R) RDT). Intel RDT provides deeper visibility and control over shared platform resources to deliver performance consistency and dynamic service delivery, through application prioritization, helping drive efficiency and flexibility across the data center. A closed-box Ambient Series server demo is available to preview in the Hyve Solutions booth, with production-ready solutions available by mid-2017.

    "We're continuously looking for ways to create additional efficiencies for our large-scale data center customers," said Steve Ichinaga, President of Hyve Solutions. "Our newly developed 48V OCP Open Rack and Ambient Series server solutions based on the next-generation Intel(R) Xeon(R) processor will help our customers reduce power consumption in the data center and save money."

    About Hyve Solutions

    Hyve Solutions Corporation, a wholly owned subsidiary of SYNNEX Corporation , is a leader in providing customers with better, purpose-built datacenter servers and storage that are cost effective and built to be specific to actual workloads and datacenter environments. The Company offers highly energy-efficient solutions via its unique role in the Open Compute Project. For more information about Hyve Solutions, visit www.hyvesolutions.com, email sales@hyvesolutions.com or call (855) 869-6873.

    About SYNNEX Corporation

    SYNNEX Corporation , a Fortune 500 corporation and a leading business process services company, provides a comprehensive range of distribution, logistics and integration services for the technology industry, as well as outsourced services focused on customer engagement strategy to a broad range of enterprises. SYNNEX distributes a broad range of information technology systems and products and also provides systems design and integration solutions. Concentrix, a wholly-owned subsidiary of SYNNEX Corporation, offers a portfolio of strategic solutions and end-to-end business services around customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients in ten identified industry verticals. Founded in 1980, SYNNEX Corporation operates in numerous countries throughout North and South America, Asia-Pacific and Europe. Additional information about SYNNEX may be found online at www.synnex.com.

    Safe Harbor Statement

    Statements in this release that are forward-looking, such as product features and capabilities, availability and timing of availability of production-ready solutions of the new range of Ambient Series server solutions based on the next-generation Intel(R) Xeon(R) processor, and the success of the collaboration, involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.

    Copyright 2017 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX Logo, HYVE SOLUTIONS, CONCENTRIX, and all other SYNNEX company, product and services names and slogans are trademarks or registered trademarks of SYNNEX Corporation. SYNNEX, the SYNNEX Logo, HYVE SOLUTIONS, and CONCENTRIX Reg. U.S. Pat. & Tm. Off. Other names and marks are the property of their respective owners.

    Intel and Xeon are registered trademarks of Intel Corporation in the United States and other countries.

    SNX-G

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hyve-solutions-announces-new-rack-and-server-solutions-supporting-open-compute-project-initiatives-300420324.html

    Photo: http://mma.prnewswire.com/media/476175/Hyve_Solutions_Logo.jpg SYNNEX Corporation

    CONTACT: Jennifer Oladipo, Account Director, Hughes Agency, For SYNNEX
    Corporation, 864.271.0718, jennifero@hughes-agency.com

    Web site: http://www.hyvesolutions.com/
    http://www.synnex.com/




    MSA's Anne Herman Recognized with BusinessWomen First Award

    PITTSBURGH, March 8, 2017 /PRNewswire/ -- Anne Herman, Vice President of Global Operational Excellence and Chief Customer Officer for MSA Safety , has been recognized by the Pittsburgh Business Times as one of the 25 most influential businesswomen in western Pennsylvania. Ms. Herman will accept her BusinessWomen First Award at a Women's Leadership Reception on March 8 at the Westin Convention Center Hotel in downtown Pittsburgh.

    "This distinguished recognition is well deserved and reflects the many contributions Ms. Herman has made to MSA - and to her colleagues and community - over her very successful career with MSA," said William M. Lambert, MSA Chairman, President and CEO. "Anne possesses deep expertise in R&D, standards compliance and operations engineering, and she is without question a leader in the global safety industry. As Chief Customer Officer and global leader of our customer experience team, Anne has a deep understanding of our customers and the quality they expect from our life-saving products," Mr. Lambert continued. "It's great that the BusinessWomen First Awards program saw fit to recognize and honor influential businesswomen in our region, and we are proud to have Anne as a member of the MSA leadership team."

    Since 2012, the Pittsburgh Business Times has recognized businesswomen who have made a difference in their communities, blazed a trail for other women and are leaving a mark on the western Pennsylvania business community with this award.

    In addition to accepting her award on March 8 at the Women's Leadership Reception, Ms. Herman and the other honorees will be featured in a special supplement honoring the recipients. The special insert will be available in the Friday, March 10 issue of the Pittsburgh Business Times.

    Ms. Herman was one of the few women in her field when she joined MSA in 1984 as an assistant chemist. Since then she has held roles of increasing responsibility. Most recently, she was promoted to her current role, where she leads MSA's global operations, quality and supply chain organizations and serves as MSA's Chief Customer Officer. She graduated with a bachelor's degree in chemical engineering from Bucknell University and an MBA from Duquesne University.

    In addition to her academic accomplishments, Ms. Herman completed the Women's Executive Leadership Program from Duquesne University and is the executive sponsor of WMSA, MSA's professional organization dedicated to the advancement of women in the workplace. She is also a member of the Graduate and Executive Programs Advisory Council (GEPAC) for the Palumbo Donahue School of Business at Duquesne University, sits on the Board of Directors of the YWCA of Greater Pittsburgh and is a certified Six Sigma Green Belt.

    About MSA( )

    Established in 1914, MSA Safety Incorporated is the global leader in the development, manufacture and supply of safety products that protect people and facility infrastructures. Many MSA products integrate a combination of electronics, mechanical systems and advanced materials to protect users against hazardous or life-threatening situations. The company's comprehensive product line is used by workers around the world in a broad range of markets, including the oil, gas and petrochemical industry, the fire service, the construction industry, mining and the military. MSA's core products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, fire and rescue helmets, and fall protection devices. With 2016 revenues of $1.15 billion, MSA employs approximately 4,300 people worldwide. The company is headquartered north of Pittsburgh in Cranberry Township, Pa., and has manufacturing operations in the United States, Europe, Asia and Latin America. With more than 40 international locations, MSA realizes approximately half of its revenue from outside North America. For more information visit MSA's web site at www.MSAsafety.com.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/msas-anne-herman-recognized-with-businesswomen-first-award-300420475.html

    Photo: http://mma.prnewswire.com/media/476361/MSA_Anne_Herman_BusinessWomen_First_Award.jpg MSA

    CONTACT: Media, Mark Deasy, (724) 741-8570; Investor Relations, Kenneth
    Krause, (724) 741 8534

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




    Canon Can Help Businesses Take Data from Unstructured to Under Control with the Extension of its Relationship with Box, Inc. and New Alliance with mxHero(TM), Inc.Expansion of Canon Solutions Portfolio Empowers Customers with Cloud-Based Information Management, Establishes Canon as a Box and mxHero Reseller

    MELVILLE, N.Y., March 8, 2017 /PRNewswire/ -- Workflow technology that can simplify communication and provide security features is a top priority for many of today's businesses. Industry experts estimate that 80 percent of data in the world is unstructured, with 40 percent of this data trapped in the form of e-mails and e-mail attachments. Continuing its efforts to help customers confidently transfer information, from image capture to file sharing, Canon U.S.A., Inc., a leader in digital imaging solutions, today announced the expansion of its relationship with Box, Inc. ("Box"), and the beginning of a new relationship with MxHero, Inc., ("mxHero"), a cloud service for intelligent e-mail management and collaboration.

    http://photos.prnewswire.com/prnvar/20160119/323578LOGO

    Augmenting Canon's existing solutions portfolio of premier output and content management solutions, the Canon's strong integration with Box and mxHero will offer customers powerful cloud-based capabilities to address many of the headaches that come with sending and receiving large files, including the need for security features and limited mailbox quota. As e-mails pass through mxHero, attachments can be automatically routed to an access restricted cloud storage account, such as Box - transforming inboxes from bulky and vulnerable to lightweight and controlled. Trusted by 64 percent of Fortune 500(R) companies for their cloud content management needs(1), Box solutions provide users with an array of security features, including the ability to restrict who and when files can be accessed.

    "In expanding our relationship with Canon, we are also expanding our commitment to helping to solve today's business challenges. Whether organizations are simply sharing and accessing files from mobile devices or completing sophisticated business processes, like data governance and retention, we are thrilled to grow our relationship with Canon and continue to help customers across a variety of industries manage their business content in the cloud," said Chris Penner, senior vice president, Global Channel Sales and Alliances, Box, Inc.

    "Email messages and attachments represent a huge amount of unstructured data that is not easily governed or secured. Working with our cloud storage partners, mxHero's solutions augment security, increase productivity and provide dramatic return on investment benefits," said Alex Panagides, chief executive officer, mxHero. "We are excited to begin this partnership with Canon, a company that also puts a great emphasis on providing the market with an effective workflow process that controls unstructured data while providing the secure features that are essential to today's business technology."

    Many businesses continue to send confidential information in the form of bulky, unprotected attachments. With no end-user intervention or workflow disruption, mxHero integrates with existing customer e-mail servers to facilitate the transfer of files and automate additional mail rules, including the separation of attachments from e-mails to cloud-based platforms like Box, a feature which can be particularly helpful for businesses tasked with maintaining files for audit, including those in legal, finance and healthcare.

    "From the time an image is scanned, to the moment it travels outside the organization, Canon understands that businesses require solutions that improve the way information is transmitted, received and maintained," said Toyotsugu Kuwamura, executive vice president and general manager, Business Imaging Solutions Group, Canon U.S.A., Inc. "With a longstanding history of providing solutions with security capabilities for the streamlining of image capture, output and content management, these relationships allow Canon and its dealers the opportunity to provide our customers with solutions to help address one of the most daunting challenges faced by businesses today - the effective management, storage and collaboration of their unstructured data."

    Availability
    Box and mxHero solutions are expected to be available through Canon authorized dealers and Canon Solutions America in May 2017.

    For more information about Canon U.S.A., visit www.usa.canon.com.

    About Canon U.S.A., Inc.
    Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $29 billion in global revenue, its parent company, Canon Inc. , ranks third overall in U.S. patents granted in 2016.** Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes in the United States. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. In 2014, the Canon Americas Headquarters secured LEED(R) Gold certification, a recognition for the design, construction, operations and maintenance of high-performance green buildings. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA. For media inquiries, please contact pr@cusa.canon.com.

    **Based on weekly patent counts issued by United States Patent and Trademark Office.

    Availability, prices and specifications are subject to change without notice.

    All referenced product names, and other marks, are trademarks of their respective owners.

    1 According to Box.com

    Canon U.S.A. website:
    http://www.usa.canon.com

    For sales information/customer support:
    1-800-OK-CANON

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/canon-can-help-businesses-take-data-from-unstructured-to-under-control-with-the-extension-of-its-relationship-with-box-inc-and-new-alliance-with-mxhero-inc-300420533.html

    Photo: http://photos.prnewswire.com/prnh/20160119/323578LOGO Canon U.S.A., Inc.

    CONTACT: Editorial Contacts: Siobhan Cullagh, Canon U.S.A., Inc.,
    631-330-4602, scuallagh@cusa.canon.com

    Web site: http://www.usa.canon.com/




    Sikorsky Recognizes Helijet for 30 Years of Safe S-76 Flight Operations

    DALLAS, March 8, 2017 /PRNewswire/ -- Sikorsky today recognized Helijet International for 30 years of safe scheduled airline and charter operations with S-76 helicopters. The recognition event was hosted at the 2017 Helicopter Association International Heli-Expo show. Sikorsky is a Lockheed Martin company .

    Helijet's fleet of 11 Sikorsky S-76 helicopters is used primarily for scheduled passenger transport, air medical services and corporate charter services. Sikorsky's global S-76 fleet recently achieved a seven-million flight hour milestone, to which Helijet's operations contributed.

    Sikorsky also recognized Helijet President & CEO Daniel Sitnam for his dedication and commitment to safety, leadership and training throughout the 30-year journey.

    "It is with great pride that we highlight this long-standing relationship and recognize Helijet for the trust placed in Sikorsky helicopters for the past three decades," said Sikorsky Vice President for Strategy & Business Development, Nathalie Previte. "This milestone is particularly notable as Helijet is the first helicopter airline with such a lengthy record of uninterrupted airline operations, moving well over two million passengers to date."

    For more than 19 years, Helijet has provided air medical transport services through its British Columbia Ambulance Services (BCAS) division. The BCAS Airevac Ambulance Program is one of the largest in North America, with approximately 7,000 patients flown every year, with pilots often navigating rugged terrain and adverse weather day and night.

    "Since 1998, we've flown over 25,000 flight hours and facilitated more than 50,000 patient transfers with BCAS, using the Sikorsky S-76 series helicopter," said Sitnam. "Helijet has proven itself to be a dependable service provider while working within the often-challenging circumstances of BCAS patient transfer assignments. Without question, Sikorsky's commitment to safety and customer service, and the reliability of the S-76 helicopter has been a key part of our success and our excellent safety record."

    Sikorsky has delivered more than 850 S-76 helicopters to customers globally since 1979 and will celebrate the 40(th) anniversary of the S-76's first flight on March 13. The legendary S-76 helicopter operates in more than 40 countries on five continents.

    For additional information, visit: Sikorsky Commercial Systems & Services

    About Lockheed Martin

    Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

    About Helijet International Inc.

    Based in Richmond, British Columbia, Canada Helijet International is the world's largest helicopter airline. In addition, Helijet is the largest air medical service provider of helicopters to the Province of British Columbia, as well as offering helicopter and turbojet air service solutions to world-renowned sport fishing resorts and public or private energy sectors throughout BC's West Coast and the Pacific Northwest. Helijet, in partnership with its medical service provision partner, also offers turbojet medical air service provision to clients throughout the North Americas and the Asias.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sikorsky-recognizes-helijet-for-30-years-of-safe-s-76-flight-operations-300418078.html

    Photo: http://mma.prnewswire.com/media/474612/Sikorsky_S_76_helicopter_Lockheed_Martin.jpg
    http://mma.prnewswire.com/media/159313/lockheed_martin_logo.jpg Lockheed Martin

    CONTACT: MEDIA, Callie Ferrari, APR, +1 203-360-4819,
    callie.d.ferrari@lmco.com

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




    IBM Researchers Store Data on World's Smallest Magnet -- a Single Atom

    ARMONK, N.Y., March 8, 2017 /PRNewswire/ -- IBM today announced it has created the world's smallest magnet using a single atom - and stored one bit of data on it. Currently, hard disk drives use about 100,000 atoms to store a single bit. The ability to read and write one bit on one atom creates new possibilities for developing significantly smaller and denser storage devices, that could someday, for example, enable storing the entire iTunes library of 35 million songs on a device the size of a credit card.

    Today's breakthrough builds on 35 years of nanotechnology history at IBM, including the invention of the Nobel prize-winning scanning tunneling microscope. Earlier this week, IBM announced it will be building the world's first commercial quantum computers for business and science. Future scanning tunneling microscope studies will investigate the potential of performing quantum information processing using individual magnetic atoms.

    "Magnetic bits lie at the heart of hard-disk drives, tape and next-generation magnetic memory," said Christopher Lutz, lead nanoscience researcher at IBM Research - Almaden in San Jose, California. "We conducted this research to understand what happens when you shrink technology down to the most fundamental extreme -- the atomic scale."

    By starting at the smallest unit of common matter, the atom, scientists demonstrated the reading and writing of a bit of information to the atom by using electrical current. They showed that two magnetic atoms could be written and read independently even when they were separated by just one nanometer - a distance that is only a millionth the width of a pin head. This tight spacing could eventually yield magnetic storage that is 1,000 times denser than today's hard disk drives and solid state memory chips. Future applications of nanostructures built with control over the position of every atom could allow people and businesses to store 1,000 times more information in the same space, someday making data centers, computers and personal devices radically smaller and more powerful.

    The study was published today in the peer-reviewed journal, Nature.

    The IBM scientists used a scanning tunneling microscope (STM), an IBM invention that won the 1986 Nobel Prize for Physics, to build and measure isolated single-atom bits using the holmium atoms. The custom microscope operates in extreme vacuum conditions to eliminate interference by air molecules and other contamination. The microscope also uses liquid helium for cooling that allows the atoms to retain their magnetic orientations long enough to be written and read reliably.

    For more information about IBM Research, visit www.ibm.com/research.

    About IBM Research
    For more than seven decades, IBM Research has defined the future of information technology with more than 3,000 researchers in 12 labs located across six continents. Scientists from IBM Research have produced six Nobel Laureates, 10 U.S. National Medals of Technology, five U.S. National Medals of Science, six Turing Awards, 19 inductees in the National Academy of Sciences and 20 inductees into the U.S. National Inventors Hall of Fame. For more information about IBM Research, visit www.ibm.com/research.

    Media Contacts Caroline Yu Vespi Chris Blake IBM Research External Relations IBM Research External Relations cvespi@us.ibm.com blakechr@us.ibm.com 925-212-9184 415-613-1120

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ibm-researchers-store-data-on-worlds-smallest-magnet----a-single-atom-300420581.html

    Video: https://www.youtube.com/watch?v=2laKpYWIa5I&feature=youtu.be Photo: http://mma.prnewswire.com/media/476476/IBM_Research.jpg
    http://mma.prnewswire.com/media/476488/IBM_Corporation_Logo.jpg IBM

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




    Cavium and Microsoft Collaborate to Accelerate Cloud Services with ThunderX2(TM)

    SAN JOSE, Calif., March 8, 2017 /PRNewswire/ -- Cavium, Inc. , announced today that they are collaborating with Microsoft on evaluating and enabling a variety of cloud workloads running on Cavium's flagship ThunderX2 ARMv8-A Data Center processor for the Microsoft Azure cloud platform.

    The companies are also demonstrating web services on a version of Windows Server developed for Microsoft's internal use running cloud services workloads on ThunderX2. The server platform is based on Microsoft's Project Olympus - Microsoft's next generation open source hyperscale cloud hardware design. The demonstrations will be shown at the Open Compute Project (OCP) U.S. Summit in San Jose on March 8 and 9, 2017 and are the result of an extensive long term collaboration between the two companies.

    The ThunderX2 product family is Cavium's second generation 64-bit ARMv8-A server processor SoCs for Data Center, Cloud and High Performance Computing applications. The family integrates fully out-of-order high performance custom cores supporting single and dual socket configurations. ThunderX2 is optimized to drive high computational performance delivering outstanding memory bandwidth and memory capacity. The new line of ThunderX2 processors includes multiple workload optimized SKUs for both scale up and scale out applications and is fully compliant with ARMv8-A architecture specifications as well as ARM's SBSA and SBBR standards. It is also widely supported by industry leading OS, Hypervisor and SW tool and application vendors.

    Cavium's hardware platform is fully compliant with Microsoft's Project Olympus which is one of the most modular and flexible cloud hardware designs in the data center industry. The platform integrates two ThunderX2 processors in a dual socket configuration. ThunderX2 SoC integrates a large number of fully out-of-order custom ARMv8-A cores with rich IO connectivity for accommodating a variety of peripherals for Azure, delivering excellent throughput and latency for cloud applications. The platform has been designed in collaboration with a leading server ODM supplier for Microsoft.

    "Cavium is excited to work with Microsoft on ThunderX2," said Gopal Hegde, VP/GM, Data Center Processor Group at Cavium. "ARM-based servers have come a long way with first generation ThunderX-based server platforms being deployed at multiple data centers, which enabled a critical mass of ecosystem partners for ARM. We see the second generation products helping to drive a tipping point for ARM server deployment across a mainstream set of volume applications. Microsoft's support will help accelerate commercial deployment of ARMv8 server platforms for Data Centers and Cloud."

    Dr. Leendert van Doorn, Distinguished Engineer, Microsoft Azure, Microsoft Corp said, "We're impressed with the innovation and competitiveness of the latest generation of ARM server processors, like ThunderX2, and are excited about the roadmap. Microsoft has developed a version of Windows Server, for Microsoft's internal use, that supports ARMv8. We have also been working closely with Cavium on ThunderX2 to support Microsoft's Project Olympus design so they can be consumed in our data centers."

    About Cavium

    Cavium, Inc. , offers a broad portfolio of infrastructure solutions for compute, security, storage, switching, connectivity and baseband processing. Cavium's highly integrated multi-core SoC products deliver software compatible solutions across low to high performance points enabling secure and intelligent functionality in Enterprise, Data Center and Service Provider Equipment. Cavium processors and solutions are supported by an extensive ecosystem of operating systems, tools, application stacks, hardware reference designs and other products. Cavium is headquartered in San Jose, CA with design centers in California, Massachusetts, India, Israel, China and Taiwan.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cavium-and-microsoft-collaborate-to-accelerate-cloud-services-with-thunderx2-300420109.html

    Photo: http://mma.prnewswire.com/media/326314/cavium_networks_logo.jpg Cavium, Inc.

    CONTACT: Angel Atondo, Sr. Marketing Communications Manager, Telephone: +1
    408-943-7417, Email: angel.atondo@cavium.com

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




    Cavium Collaborates with Microsoft to Showcase SONiC Compatibility at OCP US Summit 2017Cavium seamlessly connects SONiC software on XPliant(R) Ethernet switches

    SAN JOSE, Calif., March 8, 2017 /PRNewswire/ -- Cavium, Inc. a leading provider of semiconductor products that enable secure and intelligent processing for enterprise, data center, cloud, wired and wireless networking, today announced support for Software for Open Networking in the Cloud (SONiC) on Cavium's XPliant(R) Ethernet switches.

    SONiC is an open source project contributed by Microsoft which is comprised of a collection of networking software components required to build network devices like switches.

    During the OCP US Summit being held in Santa Clara, Microsoft and Cavium will collaborate to showcase SONiC running on OCP AS7512-32X open network 100GE data center platform by Edgecore Networks, which features the XPliant programmable Ethernet switch device.

    "SONiC is about cloud speed and scale," said Eric Hayes, VP/GM, Switch Platform Group at Cavium. "By supporting SONiC we are enabling developers to unleash innovation with cloud-scale agility, greatly improving data center network operational efficiency, and significantly increasing the ROI of the datacenter operator's switching infrastructure investment."

    Cavium's XPliant Ethernet switch family is the first to deliver a high throughput programmable data center switching solution that is shipping today in production. Platforms based on the XPliant Ethernet switch family leverage its programmatic control of table resources and pipeline logic to meet the specific needs of the network architecture and while providing an advanced packet visibility and telemetry. In addition to programmability, the XPliant family of Ethernet switches architecture offers a fully centralized shared dynamically allocated packet buffer to absorb large packet bursts and provide advanced traffic management functions.

    "Cavium's support of SONiC is another example of expanding the open networking community effort," said Jeff Catlin, VP Technology, Edgecore Networks. "Cavium's continuing contributions to these open initiatives help to develop rich ecosystems of differentiated solutions, including the Cavium XPliant based Edgecore AS7512-32X switch, an OCP open hardware design."

    Yousef Khalidi, Corporate Vice President of Microsoft Azure Networking, said, "With Cavium SONiC support, the data center operators are getting the option to use a programmable switching silicon, delivering the flexibility the industry needs to embrace the full agility of the cloud. Cavium silicon is included in the Microsoft SONiC showcase, along with other vendors, where we demonstrate sharing the same software stack across multiple switch hardware platforms."

    Cavium will showcase an array of the company's extensive portfolio of products and technologies for data centers based on XPliant programmable Ethernet switches, ThunderX(R) Server processors, QLogic FastLinQ(R) Ethernet adapters in booth B-15 at this week's OCP US Summit.

    The switching demonstration will include a variety of hardware platforms such as Arista 7160, Edge-Core AS7512-32X and Wedge 100C and diversity of disaggregated switching software solutions available to run with XPliant ASICs such as FBOSS, OpenSwitch, PicOS, PontOS, SONiC and others.

    To schedule a meeting with Cavium, please contact your local sales account manager or Lilly Ly lly@cavium.com. Please enter Meeting Request at OCP 2017.

    About Cavium

    Cavium, Inc. , offers a broad portfolio of infrastructure solutions for compute, security, storage, switching, connectivity and baseband processing. Cavium's highly integrated multi-core SoC products deliver software compatible solutions across low to high performance points enabling secure and intelligent functionality in Enterprise, Data Center and Service Provider Equipment. Cavium processors and solutions are supported by an extensive ecosystem of operating systems, tools, application stacks, hardware reference designs and other products. Cavium is headquartered in San Jose, CA with design centers in California, Massachusetts, India, Israel, China and Taiwan.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cavium-collaborates-with-microsoft-to-showcase-sonic-compatibility-at-ocp-us-summit-2017-300420113.html

    Photo: http://mma.prnewswire.com/media/326314/cavium_networks_logo.jpg Cavium, Inc.

    CONTACT: Angel Atondo, Sr. Marketing Communications Manager, Telephone: +1
    408-943-7417, Email: angel.atondo@cavium.com

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




    Lockheed Martin Awarded Third Generation USAF Logistics ContractLockheed Martin will leverage advances in software and automation to lower costs and increase aircraft readiness

    ORLANDO, Fla., March 8, 2017 /PRNewswire/ -- The Defense Logistics Agency has named Lockheed Martin [NYSE: LMT] as the Industrial Product-Support Vendor (IPV) for the U.S. Air Force Generation III logistics program.

    Lockheed Martin will continue to enable rapid replenishment of consumable parts to U.S. Air Force Air Logistics Complexes (ALC) at Hill Air Force Base, Utah, Tinker Air Force Base, Oklahoma, and Robins Air Force Base, Georgia, as part of the five year, $750 million contract.

    "Our ability to integrate technology seamlessly helped us achieve a 99.78 percent bin fill rate with virtually zero quality issues," said Scott Martin, senior program manager of Lockheed Martin's U.S. Air Force IPV. "As the manufacturer of many U.S. Air Force platforms, we understand the cradle-to-grave lifecycle of a weapons system - from design and development to production and sustainment."

    Lockheed Martin Global Supply Chain Services business has served as the Defense Logistics Agency and the U.S. Air Force IPV for the last 11 years, succeeding in improving material availability and driving down costs through reductions in inventory and increases in automation. Through integrating new technologies, Lockheed Martin will enable efficient, highly reliable forecasting and inventory management to improve part availability.

    Under the previous IPV contract, Lockheed Martin assumed the responsibility for end-to-end supply chain management of more than 89,000 unique parts filling nearly a quarter million bins, making it the Defense Department's largest IPV contract.

    "Our team takes great pride in supporting the critically important U.S. Air Force sustainment mission," said Laura Frank, vice president of Lockheed Martin's Enterprise Sustainment Solutions business. "A strong logistics infrastructure translates into more efficient, effective sustainment, ultimately getting aircraft back to the warfighter faster and at a lower cost."

    For additional information, visit our website, www.lockheedmartin.com/us/products/global-supply-chain-services.html.

    About Lockheed Martin
    Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lockheed-martin-awarded-third-generation-usaf-logistics-contract-300420309.html

    Photo: http://mma.prnewswire.com/media/476186/Lockheed_Martin_US_Air_Force_Air_Logistics_Complexes.jpg
    http://mma.prnewswire.com/media/159313/lockheed_martin_logo.jpg Lockheed Martin

    CONTACT: Greg Lester, +1 856-722-3317, Gregory.s.lester@lmco.com

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




    Schneider Electric Leverages Canon's PRISMAdirect and PRISMAprepare Solutions as Workflow Platform to Help Transform its In-Plant OperationsPRISMAdirect and PRISMAprepare Solutions Unlocked Opportunities Through Workflow Efficiency

    MELVILLE, N.Y., March 8, 2017 /PRNewswire/ -- Canon U.S.A., Inc., a leader in digital imaging solutions, is pleased to announce that Schneider Electric, a global specialist in energy management and automation with operations in more than 100 countries, has selected Canon's PRISMAdirect and PRISMAprepare solutions to help streamline the company's order submission and file preparation process to their in-house print center. PRISMAdirect and PRISMAprepare are integral parts of the PRISMA Suite, Canon's integrated suite of workflow essentials for production print environments. Designed to help drive outstanding efficiency from job submission to completion, the PRISMA Suite encompasses a complete production printing workflow portfolio including web-to-print, order management, document make-ready, production print servers, production management and automation.

    When the department first started offering print-on-demand services, it was typically serving the internal clients within its Nashville, Tennessee facility. As word of mouth spread and other business units wanted to take advantage of the pricing and the services provided, the business grew rapidly. By 2016, the in-house print operation had nearly tripled from an average of 24 million pages annually in 2010 to over 60 million pages annually.

    The growth is being driven by new services and capabilities including digital color printing, large format printing and fulfillment services to support an expanding range of internal customers across the U.S.A. The department provides print and digital media solutions with its arsenal of Canon imagePRESS digital color presses and varioPRINT 135 Series monochrome presses as well as electronic delivery of information and archival media, wide format and promotional items. The growth did not come without challenges.

    "As our fulfillment orders grew, we started to see some slowdowns in our workflow, mainly from processing and preparing the orders coming to us," said Kris Tanner, Manager - Solutions Support Group / Print On Demand for Schneider Electric. "We knew we needed to engage our internal customers faster and with more accurate data, and really put the ordering and the decision-making of the customer on the front-end submission."

    Responding to Schneider Electric's request for information, Canon conducted a business and workflow assessment to help validate their concerns on the current processes and research various solution options. Following a review of multiple vendor proposals, the company decided to implement Canon's platform.

    "Canon came back with the best solution," said Tanner. "PRISMAdirect has brought a level of engagement and self-help for our customers that we were lacking, allowing them to make smarter decisions, better leverage our services and ultimately increase their satisfaction."

    Tanner also noted that implementing the PRISMAdirect and PRISMAprepare solutions has allowed the department to gain operational efficiencies, including cutting prep time in half and freeing up staff to handle other needs. The solution has also opened up new business possibilities, such as building a Schneider Print On Demand e-commerce site using the PRISMAdirect solution to highlight relevant products that customers may not even be aware exist.

    "With the addition of Canon's solutions, our staff of six has the ability and capacity to handle almost double the business that we were handling with the same equipment just a few years ago," said Tanner. "I now have a great workflow platform on both sides of our workflow from submission through production, and I get great support."

    "In today's ever-changing environment, it is not an easy task for in-house printing operations to meet their customers' expanding needs," said Toyotsugu Kuwamura, executive vice president and general manager, Business Imaging Solutions Group, Canon U.S.A., Inc. "Solutions like PRISMAdirect and PRISMAprepare are helping in-house and commercial print organizations expand their capabilities and streamline their processes."

    Click to view a video for more information about Schneider Electric.

    About Schneider Electric
    Schneider Electric is the global specialist in energy management and automation. With revenues of ~EUR25 billion in FY2016, our 160,000+ employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies reshape industries, transform cities and enrich lives. At Schneider Electric, we call this Life Is On.

    About Canon U.S.A., Inc.
    Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $29 billion in global revenue, its parent company, Canon Inc. , ranks third overall in U.S. patents granted in 2016.(**) Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes in the United States. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. In 2014, the Canon Americas Headquarters secured LEED(R) Gold certification, a recognition for the design, construction, operations and maintenance of high-performance green buildings. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA. For media inquiries, please contact pr@cusa.canon.com.

    (**)Based on weekly patent counts issued by United States Patent and Trademark Office

    Availability, prices and specifications are subject to change without notice.

    All referenced product names and other marks, are trademarks of their respective owners.

    Results may vary based on a number of factors, including but not limited to, solutions and hardware used.

    Canon U.S.A. website:
    http://www.usa.canon.com

    For sales information/customer support:
    1-800-OK-CANON

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/schneider-electric-leverages-canons-prismadirect-and-prismaprepare-solutions-as-workflow-platform-to-help-transform-its-in-plant-operations-300420306.html

    Photo: http://mma.prnewswire.com/media/323578/Canon_Logo.jpg Canon U.S.A., Inc.

    CONTACT: Siobhan Cullagh, Canon U.S.A., Inc., 631-330-4602,
    scullagh@cusa.canon.com

    Web site: http://www.usa.canon.com/




    Meitu, Inc. and the Peacemakers Network Partner to Raise Funds for Women's EmpowermentMeitu's MakeupPlus app to launch #SHEunites fund-raising campaign with exclusive makeup looks by NikkieTutorials

    PALO ALTO, Calif., March 8, 2017 /PRNewswire/ -- Meitu, Inc. (SEHK: 1357), a leading mobile internet company with its apps activated on more than 1.1 billion unique devices, today on International Women's Day, announced the launch of #SHEunites in partnership with the Peacemakers Network. The campaign aims to empower women by providing a digital platform to share their inspiring stories, while raising funds for the Network to commission trainings, workshops, and the capacity building of supportive local networks for women around the world.

    The Peacemakers Network was initiated by United Nations, and serves as a global network of NGOs created to improve equality and respect within diverse communities and to strengthen the voice of grassroots peacebuilders. Women are crucial in building a flourishing and peaceful society. However, their work often goes unrecognized. As a result, Meitu's artificial intelligence-based makeup try-on app, MakeupPlus, is teaming up with the Peacemakers Network to support the critical work done by women around the world.

    MakeupPlus will feature three exclusive makeup looks created by world-renowned YouTube makeup artist NikkieTutorials to drive the #SHEunites campaign. Originally made viral through NikkieTutorials' half-face makeup tutorial to bring awareness to makeup shaming, the Power Of Makeup movement and makeup look will be reignited as part of the virtual makeup collection to support the cause.

    Supporters are encouraged to download MakeupPlus, apply their favorite #SHEunites virtual makeup look, share their photo and hashtag #SHEunites on Instagram to help raise up to $100,000 for the Network.

    "As the world's leading beauty app developer used by millions of women and men across the globe, we strive to support women's empowerment causes worldwide," said Frank Fu, Managing Director of Meitu's Global Operations. "We're so excited to team up with the Peacemakers Network and NikkieTutorials to support this cause through our digital platform and provide a fun, new way to engage supporters."

    With Meitu's free MakeupPlus app, users can give themselves a full virtual makeover (over 50 different styles and thousands of makeup combinations) - from lipstick, foundation and eyelashes, to eye and hair color, faux freckles and glitter - straight from their smartphone. To help bring MakeupPlus users' favorite looks to life, the app also includes tutorials from popular makeup artists along with an expertly-curated content channel to keep its community up-to-date on the latest beauty trends.

    Meitu is a strong supporter of social responsibility initiatives. The company's Corporate Social Responsibility program has supported causes ranging from men's health in partnership with Movember Foundation, to raising funds for the Orlando Relief Fund with its #Lips4Love campaign last year.

    Support the cause and download MakeupPlus to wear and share the #SHEunites looks here. To view Nikkie's tutorial on one of her looks available exclusively in MakeupPlus, please visit her YouTube page here.

    About the Peacemakers Network
    The Peacemakers Network is a global network of NGOs created to improve equality and respect within diverse communities and to strengthen the voice of grassroots peacebuilders. The Peacemakers Network empowers women through trainings, workshops, and the capacity building of supportive local networks.

    About Meitu, Inc.
    Meitu, Inc. (SEHK: 1357) is a global mobile internet platform and innovator in mobile video and photography, including Artificial Intelligence-based facial recognition and virtual "try-on" technologies for hair, makeup and skincare. By leveraging its technology leadership and global user base, Meitu, Inc. is building a mobile beauty ecosystem where users can discover, create and share new looks - right from their smartphone. Today, Meitu, Inc. apps are installed on over 1.1 billion unique mobile devices around the world, with billions of photos generated by Meitu, Inc. apps each month. More information about Meitu, Inc. can be found at corp.meitu.com/en.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/meitu-inc-and-the-peacemakers-network-partner-to-raise-funds-for-womens-empowerment-300420354.html

    Photo: http://mma.prnewswire.com/media/475923/Meitu_SHEunites.jpg
    http://mma.prnewswire.com/media/398573/Meitu_Logo.jpg Meitu

    CONTACT: Liz Goodno, Elizabeth@us.meitu.com

    Web site: http://corp.meitu.com/




    Knott's Berry Farm and VRstudios Unveil Details of "VR Showdown In Ghost Town" - The First Permanent Free-Roaming, Virtual Reality Experience at a U.S. Theme ParkCustom VR Installation Opens in April, 2017, Exclusively at Knott's Berry Farm

    BUENA PARK, Calif., March 8, 2017 /PRNewswire/ -- Knott's Berry Farm, its parent company Cedar Fair Entertainment and VRstudios announced today the details of the first permanent installation of a free-roaming, multi-player VR experience in a U.S. theme park, which will be located inside the Knott's Berry Farm Boardwalk Arcade. A new custom and industry first virtual reality (VR) experience, "VR Showdown in Ghost Town" will make its debut in April, and is exclusively available at Knott's Berry Farm.

    The immersive and interactive VR attraction will invite guests to embark on a time travel adventure, which will transport them to a futuristic version of Knott's western town of Calico. Players will be met by robotic creations and embark on a daring mission with other groups of players to defend the town.

    The one-of-a-kind immersive experience perfectly combines virtual reality and a competitive gaming realm that will captivate guests. Armed with state-of-the-art wireless virtual reality headsets and futuristic blasters, multiple players will compete against one another for the highest score and bragging rights, as part of this immersive adventure, while striving toward shared team goals. At the end of the VR competition, guests will be able to view and compare scores with their fellow opponents.

    "We are always looking for new and exciting ways to entertain our guests," said Christian Dieckmann, Cedar Fair's Vice President of Strategic Growth. "By using a free-roaming system, we can take full advantage of the capabilities of VR and let our guests be the stars of the show. A majority of people have not yet experienced VR, and we anticipate there will be a lot of interest from guests to have their first taste at our park."

    "VR Showdown in Ghost Town" is one of the many exciting new experiences coming to Knott's in 2017 and will be available to guests at an introductory price of $6.00, in addition to park admission.

    For further updates and park information please visit knotts.com or download the Knott's Berry Farm app for your smartphone. Join the conversation about the new virtual reality experience using the hashtag #VRShowdownInGhostTown on the Knott's Facebook or Twitter page.

    About Knott's Berry Farm and Cedar Fair:
    Knott's Berry Farm is Southern California's original theme park; featuring world-class rides, shows, attractions, the Knott's Soak City Waterpark and Knott's Berry Farm Hotel. Knott's Berry Farm is owned and operated by the Cedar Fair Entertainment Company , a publicly traded partnership headquartered in Sandusky, Ohio. The Company, which owns and operates 11 amusement parks, two outdoor water parks, one indoor water park and five hotels, is one of the largest regional amusement park operators in the world. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, and Toronto, Ontario. Cedar Fair also operates the Gilroy Gardens Family Theme Park in California under a management contract.

    About VRstudios:

    VRstudios (www.vrstudios.com) is a leading global VR technology company, whose VR systems and content are installed in 11 countries. The company is delivering the first truly wireless, full-range-of-motion, multi-participant, immersive experiences for the location-based entertainment industry, such as theme parks, family entertainment centers, food and beverage outlets, movie theaters and arcades. VRstudios is the first company to offer an all-in-one VR solution bundle, including its own experience management software, wireless headsets and interactive devices, entertainment content and developer tools. The company launched in 2014 and is headquartered in Bellevue, Washington.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/knotts-berry-farm-and-vrstudios-unveil-details-of-vr-showdown-in-ghost-town---the-first-permanent-free-roaming-virtual-reality-experience-at-a-us-theme-park-300420329.html

    Photo: http://mma.prnewswire.com/media/476066/Knotts_Berry_Farm_VR_Showdown.jpg
    http://mma.prnewswire.com/media/476064/Knotts_Berry_Farm_Cedar_Fair_Entertainment.jpg
    http://mma.prnewswire.com/media/476065/Knott_s_Berry_Farm_Logo.jpg
    http://mma.prnewswire.com/media/476063/Knotts_Berry_Farm___VRSTUDIO_Logo.jpg Knott's Berry Farm

    CONTACT: Knott's Berry Farm Media Contact: Diana Bahena, (714) 220-5130,
    diana.bahena@knotts.com; VRstudios Media Contact: Teresa Fausti, (425)
    503-5674, teresa.fausti@vrstudios.com

    Web site: http://knotts.com/




    comScore Reports January 2017 U.S. Smartphone Subscriber Market Share

    RESTON, Va., March 8, 2017 /PRNewswire/ -- comScore, Inc. today released data from comScore MobiLens(R), reporting market share trends in the U.S. smartphone industry for January 2017.

    Top Smartphone OEMs 3 Month Avg. Ending January 2017 Total U.S. Smartphone Subscribers Age 13+ Source: comScore MobiLens ------------------------- Top Smartphone OEMs Share (%) of Smartphone Subscribers --- ----------- Total Smartphone Subscribers 100.0% ---------------------------- ----- Apple 44.6% ----- ---- Samsung 28.0% ------- ---- LG 10.3% --- ---- Motorola 4.3% -------- --- HTC 2.3% --- ---

    Top Smartphone Platforms 3 Month Avg. Ending January 2017 Total U.S. Smartphone Subscribers Age 13+ Source: comScore MobiLens ------------------------- Top Smartphone Platforms Share (%) of Smartphone Subscribers --- ----------- Total Smartphone Subscribers 100.0% ---------------------------- ----- Android 53.2% ------- ---- Apple 44.6% ----- ---- Microsoft 1.6% --------- --- BlackBerry 0.6% ---------- ---

    For more market rankings from comScore, visit our Rankings page here.

    About comScore
    comScore is a leading cross-platform measurement company that precisely measures audiences, brands and consumer behavior everywhere. comScore completed its merger with Rentrak Corporation in January 2016, to create the new model for a dynamic, cross-platform world. Built on precision and innovation, our unmatched data footprint combines proprietary digital, TV and movie intelligence with vast demographic details to quantify consumers' multiscreen behavior at massive scale. This approach helps media companies monetize their complete audiences and allows marketers to reach these audiences more effectively. With more than 3,200 clients and global footprint in more than 75 countries, comScore is delivering the future of measurement. Shares of comScore stock are currently traded on the OTC Market . For more information on comScore, please visit comscore.com.

    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/comscore-reports-january-2017-us-smartphone-subscriber-market-share-300420345.html

    Photo: http://mma.prnewswire.com/media/327730/comScore_Logo.jpg comScore

    CONTACT: Adam Lella, comScore, Inc., (312) 775-6474, press@comscore.com

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

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