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Frost & Sullivan Applauds Fortinet’s Quality-Backed Growth in the Enterprise Firewall Market

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— Fortinet’s high-performance products are ideal for the demanding enterprise network market

MOUNTAIN VIEW, Calif., Jan. 30, 2014 /PRNewswire/ — Based on its recent analysis of the enterprise firewalls market, Frost & Sullivan recognizes Fortinet with the 2012 North America Frost & Sullivan Award for Market Penetration Leadership. Fortinet’s aggressive product development strategy and unwavering focus on product value has enabled it to ably serve the exacting enterprise firewalls market, which requires firewalls that are highly scalable, reliable, and have cutting-edge features.

“Fortinet offers a strong value proposition of comprehensive network security in a single, easily deployed network appliance, which allows businesses of all sizes to reduce the hardware investment costs associated with multiple-point security products,” said Frost & Sullivan Research Analyst Chris Rodriguez.

Fortinet’s operating system, FortiOS, powers all FortiGate® security products, and each FortiGate® device includes a full suite of security technologies. These include next-generation firewall (NGFW), secure socket layer (SSL) Web content filtering, gateway antimalware, on-device sandboxing, cloud-based IP reputation management, wide area network (WAN) optimization, as well as vulnerability and identity management.

Fortinet’s security subscription bundle provides automatic updates to several of the security technologies included in the FortiGate® device from its FortiGuard® Labs global threat research team. Fortinet is also helping customers take advantage of virtualization and cloud infrastructure with a wide range of security products (including FortiGate®) for VMware and Citrix Xen Virtual Machine environments.

Fortinet recently announced select product support for the Amazon Web Services environment, allowing customers to deploy the same technology on-premise as well as in the Amazon cloud. Fortinet has also invested heavily in central policy management, log analysis, reporting capability and threat intelligence functions to address enterprises’ increasing tendency to centralize network management.

“Fortinet’s ‘single-pane-of-glass’ approach offers a management console that provides users with improved visibility and control of policies, content and users,” noted Rodriguez. “This product value was first recognized by small- and medium-sized businesses, which represented the core of Fortinet’s customer base for many years; however, enterprises of all sizes and types are now looking to reduce operating expenses.”

In recent years, Fortinet has assembled a number of high-end FortiGate® appliances for enterprise main offices, data centers and service providers. The most scalable FortiGate® appliance is the 5000 Series, a chassis-based firewall with multiple blade servers, which can reach up to 480 Gbps of firewall throughput with the full array of 14 firewall blades.

Fortinet announced the latest major release of its secure OS, FortiOS 5.0, which includes more than 150 new features. It will enable businesses to solve security challenges thrown up by the bring-your-own-device (BYOD) culture and will assign policies automatically based on user ID and device type. Fortinet is also adding protection technologies, such as in-line sandboxing and reputation systems, to find and block advanced malware on the corporate network or detect compromised systems.

“Fortinet has consistently provided quality security products that are built from the ground up with custom hardware to enhance product performance,” remarked Chris Rodriguez, Senior Industry Analyst. “Furthermore, Fortinet has demonstrated the ability to understand enterprise requirements and deliver new features and technologies that provide the most value.”

Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in capturing market share within its industry. The recipient has shown strategic excellence in product innovation, marketing, and sales strategies that have resulted in the largest gain in market share over the past two to three years.

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.

About Fortinet

Fortinet (NASDAQ: FTNT) helps protect networks, users and data from continually evolving threats. As a global leader in high-performance network security, we enable businesses and governments to consolidate and integrate stand-alone technologies without suffering performance penalties. Unlike costly, inflexible and low-performance alternatives, Fortinet solutions empower customers to embrace new technologies and business opportunities while protecting essential systems and content. Learn more at http://www.fortinet.com.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion

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Contact:

Mireya Espinoza
P: +1.210.247.3870
F: +1.210.348.1003
E: mireya.espinoza@frost.com
Source: Frost & Sullivan

Written by asiafreshnews

February 4, 2014 at 11:55 pm

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One Spark Grows to $3.25 Million in Private Investment Opportunities for Creators

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— Jaguars Owner Shad Khan Joined by New Private Venture Firms

JACKSONVILLE, Fla., Jan. 30, 2014 /PRNewswire/ — One Spark, the world’s crowdfunding festival, announced today a number of private venture capital firms and partners have joined with Jacksonville Jaguars owner Shad Khan to increase potential investment funding for One Spark creators participating in the April 9 – 13, 2014 event in downtown Jacksonville.

(Logo: http://photos.prnewswire.com/prnh/20130123/FL46908LOGO)

Khan pledged up to $1 million during the inaugural One Spark 2013 event and converted his pledge into over $1 million of actual investment in six qualified One Spark 2013 creator projects through his STACHE Investments Corp. Khan is repeating his pledge at One Spark 2014 to make a similar investment in qualified companies or people. Qualifications include entrepreneurial spirit, big ideas and a commitment to base their business in Jacksonville, STACHE’s primary investment mandate.

“One Spark has my support again this year because it showcases Jacksonville, particularly downtown, and everything we have here to offer an entrepreneur,” Khan said. “We will definitely show a preference to qualified creators who have a quality idea that perhaps needs financial support to become reality, and then would be willing to do business here in Jax. I wish the participants good luck.”

This year Khan is joined by Arsenal Venture Partners, Florida Blue, Healthbox, Palm Ventures, PS27 Ventures and UE Investors to offer up to $3.25 million in combined potential investment opportunities for projects they could independently select at One Spark 2014. One Spark 2014 also offers participating projects access to private individual contributions from the public and $310,000 in guaranteed crowdfunds and awards, increased from its first year’s $250,000 crowdfund pool.

“Our partnership with Arsenal Venture Partners, Palm Ventures, Florida Blue, Healthbox, PS27 Ventures, UE Investors and STACHE Investments Corp. continues to elevate the level of funding opportunities on the table for One Spark 2014 creators,” said Elton Rivas, One Spark co-founder. “Connecting great ideas to investment dollars is a critical component of a successful event. The caliber of capital partners who will be at One Spark 2014 looking for the next big thing is truly remarkable.”

One Spark 2014’s creator registration deadline has been extended to Feb. 21, 2014 to give interested creators the opportunity to register and apply for the additional potential capital investment. Details about how registered creators can apply can be found at http://bit.ly/1Spark.

About One Spark: One Spark, The World’s Crowdfunding Festival, is committed to fostering environments of creativity and innovation by showcasing artists, entrepreneurs and innovators from around the world for five days every spring in downtown Jacksonville, Fla. Creators are provided a platform to connect their ideas with resources to make it happen. The festival is an interactive experience that allows attendees to support ideas and projects that inspire them and decide on the next big thing. One Spark 2014 will be held April 9 -13, 2014. One Spark 2014 has also been selected for A&E’s PROJECT STARTUP. To learn more or sign up to be a creator or volunteer, visit BeOneSpark.com.

About Arsenal Venture Partners: Arsenal Venture Partners (AVP) is the leading venture capital firm focused on the intersection of the commercial and defense markets. AVP, formerly known as, MILCOM Venture Partners, manages multiple early stage venture capital funds including Arsenal Venture Partners II, OnPoint Technologies, and MILCOM Technologies. Through the funds it manages the AVP team and has invested in dozens of portfolio companies across three primary sectors: communications and information technology, power and energy and environmental and industrial technologies.

About Florida Blue: Florida Blue, Florida’s Blue Cross and Blue Shield company, is a leader in Florida’s health care industry. Our mission is to help people and communities achieve better health. Florida blue has approximately 4 million health care members and serves 15.5 million people in 16 states through its affiliated companies. Florida Blue is a not-for-profit, policyholder-owned, tax-paying mutual company. Headquartered in Jacksonville, Fla., it is an independent licensee of Blue Cross Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. For more information, visit http://www.FloridaBlue.com.

About Healthbox: Healthbox (www.healthbox.com) is the preeminent resource to help healthcare companies achieve meaningful growth. Within its business accelerator, Healthbox works with early-stage companies that are solving significant problems with technology. The program provides investment, expert insight, business model guidance and sales support to position entrepreneurs for success. Healthbox has created a strong global community dedicated to driving change in healthcare with operations in Boston, Chicago, Florida, Nashville and London. Through strategic partnerships with more than 20 leading healthcare organizations, Healthbox has built a portfolio of 55 active companies.

About Palm Ventures: Since 1992, Palm Ventures has focused on nurturing and growing businesses that have a positive and transformative impact on society. In partnership with management teams and a small group of substantial investors, we leverage our collective strengths and resources to tap an organization’s full potential. By utilizing new and disruptive business models, we challenge the status quo and bring about change that is good for business and good for society.

About PS27 Ventures: PS27 Ventures is a Florida based boutique investment and consulting firm that is focused on the healthy living and wellness solutions segment of the market. We work with founders and inventors of new ideas and breakthrough products and help bring them to market. We advise as well as invest in selected situations. We utilize the Lean Start Up methodology to accelerate our companies to success.

About STACHE Investments Corporation: In an effort to help the community, Shad Khan formed the STACHE Investments Corporation to support business people in the area hoping to help them grow their businesses and provide new employment opportunities for people in the Greater Jacksonville area.

About UE Investors: UEI makes small seed and growth capital investments in businesses with profitable services models and recurring revenue streams. These investments are in both private and public companies as UEI is stage agnostic. However, a bias does exist toward investing in small private companies as a “micro-VC.”
Source: One Spark

Written by asiafreshnews

February 4, 2014 at 11:40 pm

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Opera House Turns China Red for Lunar New Year Celebrations

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SYDNEY /PRNewswire/ — NSW Premier Barry O’Farrell tonight joined members of the Chinese-Australian community at a special lighting of the Sydney Opera House sails as part of Lunar New Year celebrations.
L-R: Chinese Consul General Li Huaxin and New South Wales Premier Barry O’Farrell
L-R: Chinese Consul General Li Huaxin and New South Wales Premier Barry O’Farrell

L-R: Chinese Consul General Li Huaxin and New South Wales Premier Barry O’Farrell
L-R: Chinese Consul General Li Huaxin and New South Wales Premier Barry O’Farrell
Mr O’Farrell was joined by event sponsor Yuhu Group Chairman, Huang Xiangmo, Minister for Citizenship and Communities, Victor Dominello, and Oatley MP, Mark Coure, at the Overseas Passenger Terminal for the ceremony.
Mr O’Farrell and the Chinese Consul General, Li Huaxin, activated the lasers that turned the Opera House’s sails red to mark the start of the Year of the Horse.
“To see the sails of the Opera House bathed in ‘China red’ is an impressive sight against the backdrop of one of the world’s greatest harbours,” Mr O’Farrell said.
“Sydney plays host to the biggest Chinese New Year celebration outside of China and this has become an event the NSW community looks forward to each year.
“The warm and cooperative relationship between NSW and China is underpinned by significant contribution successive generations of Chinese migrants have made to Sydney and New South Wales.
“The NSW Government remains committed to increasing the trade, tourism and cultural relationships between NSW and China.
“China is our largest trading partner and is the State’s leading tourism market, with more tourists arriving in NSW from China than from any other country.
“2014 is the year of the Horse, which is said to be clever, powerful, and spirited. I hope we all embrace those qualities over the next 12 months.”
Mr Dominello said the people of NSW have benefited greatly from the cultural, economic, and philanthropic contributions of generations of Chinese Australians.
“NSW is home to 380,000 Chinese-Australians who are integral to our multicultural fabric, and I wish the Chinese community a safe and prosperous year ahead.
“The NSW Government would like to thank Yuhu Group for funding the event, which will see the Sydney Opera House bathed in China red over the next two nights.”
Source: Destination NSW

Written by asiafreshnews

February 4, 2014 at 4:36 pm

Posted in Uncategorized

Two Consumer-Created Doritos Ads Air In Front Of A Global Super Bowl Audience, One Winner To Take Home $1 Million Grand Prize

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Creators of “Time Machine” and “Cowboy Kid” Each Win the Opportunity to Work with Marvel Studios on the Set of “Marvel’s The Avengers: Age of Ultron”
PLANO, Texas/PRNewswire/ — PepsiCo’s Doritos brand gave two fans the opportunity to put their talent on display when their homemade Doritos ads aired in front of a global audience during Sunday’s Super Bowl XLVIII broadcast, one of the most-watched television events in the world. The creators of both winning ads will now go on to work with Marvel Studios on the set of “Marvel’s The Avengers: Age of Ultron” — the highly anticipated sequel to the 2012 blockbuster movie “Marvel’s The Avengers” — and will compete for a $1 million (U.S.) grand prize. The consumer-created ad with the highest number of total fan votes on http://www.doritos.com will win its creator the $1 million, and the runner-up, selected by the Doritos brand, will receive $50,000 (U.S.). The grand prize winner will be announced on Feb. 3, 2014. More details are available at http://www.doritos.com.
The two ads that aired were (in alphabetical order by finalist last name):
“Time Machine” by Ryan Andersen, Scottsdale, Arizona, United States
“Cowboy Kid” by Amber Gill, Ladera Ranch, California, United States
“There has been tremendous enthusiasm around the world for all five of our finalists and we couldn’t be more thrilled with how consumers have rallied behind their favorites during the voting process,” said Ram Krishnan, vice president of marketing, PepsiCo’s Frito-Lay division. “While fan votes picked one winner, the Doritos brand had a tough time picking our second winner, so we ultimately decided to go with the ad that generated the second highest votes. We’re extremely proud of our two winners and look forward to revealing who will win the $1 million grand prize.”
This is the latest installment of the Doritos “Crash the Super Bowl” contest, which has been held for the past seven years in the U.S. Since it began in 2007, the annual contest has invited U.S. consumers to create and submit 30-second homemade ads celebrating their love of Doritos tortilla chips. This year, Doritos opened up the contest to fans from around the world where Doritos tortilla chips are sold, attracting more than 5,400 submissions from 30 countries.
The two winning ads that aired were among five finalist ads selected by a qualified panel of judges, including executives from the Doritos brand, advertising professionals and the legendary Stan Lee of Pow! Entertainment — Chairman Emeritus of Marvel Studios and co-creator of such Super Heroes as Iron Man, Spider-Man and others. One of the winning ads was selected by worldwide consumer votes on http://www.doritos.com and the other by the Doritos brand.
Andersen, a freelance wedding photographer from Scottsdale, Ariz., teamed up with his six-year-old-son to create “Time Machine.” The $300 (US) commercial is about the cleverest con one could think of to get a bag of Doritos tortilla chips — a time machine that conveniently only runs on Doritos tortilla chips.
Gill is an Orange County, Calif.-based writer, producer, mom of two and creator of “Cowboy Kid.” The commercial centers on a classic case of sibling rivalry for a bag of Doritos tortilla chips. As two brothers race toward the bag, the younger brother saddles up to reach the bag of Doritos tortilla chips first.
Each of the five Crash the Super Bowl finalists won an invitation to East Rutherford, N.J., to attend Super Bowl XLVIII and watched the game from a private luxury suite, where they tuned in to learn which finalist ads aired. The three finalists whose commercials did not air during the broadcast each won $25,000 (U.S.).
As one of the leading snack brands in the world, Doritos has a presence in 46 countries and six continents. With flavors ranging from Nacho Cheese and Cool Ranch to Sweet Chili Pepper and Tangy Cheese, the worldwide Doritos portfolio currently offers more than 70 unique varieties.
PepsiCo’s relationship with the NFL is among the company’s longest-running and most-successful sports sponsorships. PepsiCo leveraged its relationship with the NFL to connect with consumers throughout the season with activations spanning many of the company’s largest food and beverage brands, including Pepsi, Tostitos, Quaker, Doritos and Gatorade.
About Marvel Entertainment
Marvel Entertainment, LLC, a wholly-owned subsidiary of The Walt Disney Company, is one of the world’s most prominent character-based entertainment companies, built on a proven library of more than 8,000 characters featured in a variety of media over seventy years. Marvel utilizes its character franchises in entertainment, licensing and publishing. For more information visit http://www.marvel.com.
About Doritos
Doritos is one of the leading brands from PepsiCo’s (NYSE: PEP) global snack portfolio. To learn more about the Doritos brand, visit its website at http://www.doritos.com.
About PepsiCo
PepsiCo is a global food and beverage leader with net revenues of more than $65 billion and a product portfolio that includes 22 brands that generate more than $1 billion each in annual retail sales. Our main businesses – Quaker, Tropicana, Gatorade, Frito-Lay and Pepsi-Cola – make hundreds of enjoyable foods and beverages that are loved throughout the world. PepsiCo’s people are united by our unique commitment to sustainable growth by investing in a healthier future for people and our planet, which we believe also means a more successful future for PepsiCo. We call this commitment Performance with Purpose: PepsiCo’s promise to provide a wide range of foods and beverages from treats to healthy eats; to find innovative ways to minimize our impact on the environment by conserving energy and water and reducing packaging volume; to provide a great workplace for our associates; and to respect, support and invest in the local communities where we operate. For more information, please visit http://www.pepsico.com.
Follow PepsiCo:
Twitter (@PepsiCo)
Facebook
PepsiCo Blogs
PepsiCo Press Releases
PepsiCo Multimedia
PepsiCo Videos
The NFL Entities (as defined in the Official Rules) have not offered or sponsored this contest in any way.
Source: Frito-Lay North America

Written by asiafreshnews

February 4, 2014 at 3:00 pm

Posted in Uncategorized

Banco Bradesco 2013 Results

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SAO PAULO, Jan. 30, 2014 /PRNewswire/ — The main figures obtained by Bradesco (NYSE: BBD, BBDO; Latibex: XBBDC; BM&FBOVESPA: BBDC3, BBDC4) in 2013 are presented below:
1.Adjusted Net Income(1) for 2013 stood at R$12.202 billion (a 5.9% increase compared to the R$11.523 billion recorded in the same period last year), corresponding to earnings per share of R$2.91 and Return on Average Adjusted Shareholders’ Equity(2) of 18.0%.
2.Adjusted Net Income is composed of R$8.462 billion from financial activities, representing 69.3% of the total, and R$3.740 billion from insurance, pension plan and capitalization bond operations, which accounted for 30.7%.
3.On December 31, 2013, Bradesco’s market capitalization stood at R$128.085 billion(3). As of May 2013, Bradesco common shares compose the Ibovespa index.
4.Total Assets stood at R$908.139 billion in December 2013, a 3.3% increase over the same period in 2012. Return on Total Average Assets was 1.4%.
5.The Expanded Loan Portfolio(4) stood at R$427.273 billion in December 2013, up 10.8% during the same period in 2012. Operations with individuals totaled R$130.750 billion (up 11.2% on December 2012), while operations with companies totaled R$296.523 billion (up 10.6% on December 2012).
6.Assets under Management stood at R$1.260 trillion, a 2.8% increase from December 2012.
7.Shareholders’ Equity stood at R$70.940 billion in December 2013, up 1.3% on December 2012. Capital Adequacy Ratio (Basel III) stood at 16.6% in December 2013, 12.3% of which fell under Tier I Capital.
8.Interest on Shareholders’ Equity and Dividends were paid and recorded in provision to shareholders totaling R$4.078 billion on income for 2013, R$1.803 billion of which was paid as monthly and interim interest and R$2.275 billion was recorded in provision.
9.Interest Financial Margin stood at R$42.686 billion, up 1.6% in comparison with 2012.
10. The Delinquency Ratio over 90 days dropped 0.6 p.p. in the last 12 months and stood at 3.5% on December 31, 2013 (4.1% on December 31, 2012).
11. The Efficiency Ratio(5) in December 2013 stood at 42.1% (41.5% in December 2012), whereas the “adjusted to risk” ratio stood at 52.1%, (52.7% in December 2012).
12. Insurance Written Premiums, Pension Plan Contributions and Capitalization Bond Income totaled R$49.752 billion in 2013, up 12.3% over 2012. Technical Reserves stood at R$136.229 billion, up 9.7% on December 2012.
13. Investments in infrastructure, information technology and telecommunications amounted to R$4.842 billion in 2013, up 9.8% over the same period last year.
14. Taxes and contributions, including social security, paid or recorded in provision, amounted to R$21.758 billion, of which R$9.902 billion referred to taxes withheld and collected from third parties and R$11.856 billion from Bradesco Organization activities, equivalent to 97.2% of Adjusted Net Income(1).
15. Bradesco has an extensive customer service network in Brazil, with 4,674 Branches and 3,586 Service Branches – PAs. Customers can also use 1,180 PAEs – ATMs (Automatic Teller Machines) in companies, 46,851 Bradesco Expresso service points, 33,464 Bradesco Dia & Noite ATMs and 14,739 Banco24Horas ATMs.
16. Payroll, plus charges and benefits, totaled R$11.013 billion. Social benefits provided to the 100,489 employees of the Bradesco Organization and their dependents amounted to R$2.702 billion, while investments in training and development programs totaled R$126.836 million.
17. For the ninth consecutive year, Bradesco was selected to compose the Corporate Sustainability Index (ISE) of BM&FBovespa – Securities, Commodities and Futures Exchange, which reflects the returns of a share portfolio comprising those companies with the best performance in all aspects of corporate sustainability.
18. Major Awards and Acknowledgments in the period:
– Bradesco was considered the best bank in Latin America, ranking first among the 25 best banks in Latin America (AmericaEconomia magazine);
– Bradesco was considered the largest private group in Brazil according to the Valor Grandes Grupos ranking, which ranks the country’s 200 largest groups (Valor Economico newspaper);
– Bradesco was recognized as the best Bank in Brazil (Best Developed and Emerging Markets Banks 2013 – Global Finance Magazine);
– Bradesco was considered the best bank in the 8th Best Companies for Shareholders Award (Capital Aberto magazine / Stern Stewart do Brasil Advisory Services);
– Bradesco was leader of the Top MVP ranking as the company that most produces value from interaction with its stakeholders (Dom Strategy Partners Advisory Services);
– Winner of the Value Creation Award, promoted by Abrasca, aiming at stimulating good corporate governance practices;
– Winner of the first edition (2013) of the Top Case Award, in the Top Case Highlight category (Case Studies – Insight Communication magazine);
– Bradesco was considered the best bank in people management, according to The Best in People Management survey (Valor Carreira/Valor Economico newspaper, with technical support of Aon Hewitt); and
– Grupo Bradesco Seguros was granted the Most Admired Companies in Brazil Award in the Corporate Healthcare Plan and Social Security categories (Carta Capital magazine).
With regards to sustainability, Bradesco divides its actions into three pillars: (i) Sustainable Finances, focused on banking inclusion, social and environmental variables for loan approvals and product offerings; (ii) Responsible Management, focused on valuing professionals, improving the workplace and adopting eco-efficient practices; and (iii) Social and Environmental Investments, focused on education, the environment, culture and sports. In this area, we point out Fundacao Bradesco, which has a 57-year history of extensive social and educational work, with 40 schools in Brazil. In 2013, a budget of R$456.966 million benefited 101,781 students in its schools, in Basic Education (from Kindergarten to High School and Vocational Training – High School Level), Education for Youth and Adults; and Preliminary and Continuing Qualification focused on the creation of jobs and generation of income.
(1) According to non-recurring events described on page 9 of this Report on Economic and Financial Analysis; (2) Excludes mark-to-market effect of available-for-sale securities recorded under Shareholders’ Equity; (3) Number of shares (excluding treasury shares) x closing price for common and preferred shares on the last trading day of the period; (4) Includes sureties and guarantees, letters of credit, advances of credit card receivables, co-obligations in loan assignments (receivables-backed investment funds and mortgage-backed receivables), co-obligations in rural loan assignments, and operations bearing credit risk – commercial portfolio, which includes debentures and promissory notes; and (5) In the last 12 months.
Contact: Ivani Benazzi de Andrade +011-55-11-2178-6218, 4823.ivani@bradesco.com.br or Carlos Tsuyoshi Yamashita, +011-55-11-2178-6204, 4823.carlos@bradesco.com.br both of Banco Bradesco.
Source: Banco Bradesco S.A.

Written by asiafreshnews

February 4, 2014 at 2:58 pm

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Dunkin’ Donuts Celebrates The World’s Love Of Chocolate With Chocolate Lover’s Heart Donuts And Dark Chocolate Mocha Lattes

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New Products Available at Participating Dunkin’ Donuts Locations Across Southeast Asia This February
CANTON, Mass. /PRNewswire/ — Dunkin’ Donuts, one of the world’s leading baked goods and coffee chains, is celebrating the world’s love of chocolate this February with a lineup of deliciously indulgent donuts and beverages. All month long at participating Dunkin’ Donuts restaurants across Southeast Asia, Dunkin’ Donuts will be offering its guests Chocolate Lover’s Heart Donuts and Dark Chocolate Mocha Lattes.
(Photo: http://photos.prnewswire.com/prnh/20140202/NE56122)
(Logo: http://photos.prnewswire.com/prnh/20110224/NY53806LOGO)
The Chocolate Lover’s Heart Donut is a heart-shaped donut filled with rich, indulgent chocolate filling, topped with chocolate icing and white sprinkles. Dunkin’ Donuts’ Dark Chocolate Mocha Latte, available hot or iced, features espresso derived from high-quality coffee beans, steamed milk and rich dark chocolate flavor, topped with a mocha drizzle. These new menu items are the perfect way to celebrate one of the world’s favorite flavors, chocolate.
“With chocolate being such a popular flavor around the globe, we’re excited to share our Chocolate Lover’s Heart Donut and Dark Chocolate Mocha lattes with our guests this February,” said Stan Frankenthaler, Executive Chef and Vice President of Product Innovation at Dunkin’ Brands. “Our Chocolate Lover’s Heart Donut is an indulgent treat that’s delicious to enjoy individually or to share with friends and family in a dozen or half dozen. We think our guests will also fall in love with our Dark Chocolate Mocha Lattes, which are sweet and chocolaty pick-me-ups at any time of the day.”
Chocolate Lover’s Heart Donuts and Dark Chocolate Mocha Lattes are available at participating Dunkin’ Donuts locations across Southeast Asia this month, including restaurants in Malaysia, the Philippines and Singapore. In addition to these seasonal menu items, guests can also enjoy Dunkin’ Donuts’ wide range of high-quality hot and iced beverages, donuts, muffins and sandwiches, all served fast and in a friendly environment.
Dunkin’ Donuts currently has nearly 11,000 restaurants in 33 countries around the world, including 1,400 across Southeast Asia.
About Dunkin’ Donuts
Founded in 1950, Dunkin’ Donuts is America’s favorite all-day, everyday stop for coffee and baked goods. Dunkin’ Donuts is a market leader in the hot regular/decaf/flavored coffee, iced coffee, donut, bagel and muffin categories. Dunkin’ Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for seven years running. The company has nearly 11,000 restaurants in 33 countries worldwide. Based in Canton, Mass., Dunkin’ Donuts is part of the Dunkin’ Brands Group, Inc. (Nasdaq: DNKN) family of companies. For more information, visit http://www.DunkinDonuts.com.
Source: Dunkin’ Donuts
Related stocks: NASDAQ-NMS:DNKN

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February 4, 2014 at 2:53 pm

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Edinburgh Business School Celebrates Success of African Graduates

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LONDON /PRNewswire/ — On the 8th February, Edinburgh Business School will mark the achievements of its long-standing presence in Africa with a celebration event for graduates. The event will see 200 graduates from across the continent gather in Johannesburg. Edinburgh Business School has been offering executive education in Africa since 1990 and currently has 3760 students with a further 2000 alumni from its MBA programme.
The event will also celebrate the first 23 graduates from the African Scholarship programme launched and funded by Edinburgh Business School in 2010. The scholarship scheme is the largest of its kind; offering 250 people in Africa a fully-funded place on the Edinburgh Business School distance learning MBA (Master of Business Administration) programme.
The scholarship programme, which was established in 2010 by Edinburgh Business School, has enabled applicants from across Africa to gain access to advanced management skills and expertise, helping them to effect change in their organisations and communities. The flexibility of the distance learning MBA has also enabled students to continue working while they learn, implementing their new knowledge and skills in the workplace immediately.
Professor Keith Lumsden, Academic Director of Edinburgh Business School, the Graduate School of Business of Heriot-Watt University, comments on the school’s presence in Africa and scholarship scheme:
“Edinburgh Business School has been active in Africa for over 20 years and to celebrate this long standing relationship, we established The Africa Scholarship Programme in 2010. We are very proud to recognise and celebrate all of our graduates today. They emerge equipped with skills that will enhance not only their own lives but also the wider communities around them. All of the people we are recognising at today’s event have worked hard to secure their MBA’s and will no doubt go on to achieve great things.”
Graduating student Simon Peter Kavuma from Uganda comments on the opportunity and the impact the MBA and The African Scholarship Programme has had on his life:
“Receiving the scholarship was a life changing event, and it’s difficult to see how I would have studied for the MBA without it. My MBA studies have led to career progression and possibilities that would have been impossible without it.”
Recently appointed Deputy Chief Finance Office at Citbank Uganda, Simon believes that the MBA was an important factor in securing the new position.
Graca Machel, leading educationalist and wife of the late Nelson Mandela, comments on the scholarship programme:
“Scholarship programmes offer a wonderful opportunity for students from all over Africa to learn, gain and share invaluable technical, managerial and leadership skills, as well as obtain recognised qualifications. These skills are vital in our future leaders. I hope that as the Edinburgh Business School scholars graduate, they will continue to develop leadership which promote the conditions for the full exercise of citizen’s rights
including equity and dignity for all.”
In order to apply for a place on the MBA programme, students must be a national or resident in a sub-Saharan African country, have a university degree and at least two years of full time work experience. You can find out more here http://www.ebsglobal.net/africa
For further details and guidance on how to apply to The African Scholarship Programme please visit http://www.canoncollins.org.uk/edinburghmba.html
Contact Details
For further information about the Edinburgh Business School African Scholarship Programme please contact Emma Cutting or Robert Crosland at Communications Management:
Emma@communicationsmanagement.co.uk +44(0)1727-733886
Robert@communicationsmanagement.co.uk +44(0)1727-737988
Source: Edinburgh Business School

Written by asiafreshnews

February 4, 2014 at 2:25 pm

Posted in Uncategorized

With ONE IN TEN Australian Children Living in Disadvantage, New Short Film Series Launches to Raise Awareness

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SYDNEY /PRNewswire/ — The new animated short film series Tales of the ‘ONE IN TEN’ will launch this week to highlight the plight of disadvantaged children.
ALICE & THE GIANT EMPTINESS
ALICE & THE GIANT EMPTINESS
Produced by The Solid State, the first in the series ALICE & THE GIANT EMPTINESS will premiere across social media on Monday 3 February 2014.
A contemporary tale about a young girl living with the burden of disadvantage, who overcomes a negative self-image and the taunts of classmates to live a life full of possibility, Alice & the Giant Emptiness both enlightens and empowers.
Creator Danny Lachevre said, “It is hoped that this heartfelt film, and the universal character of Alice, will highlight the plight of the many disadvantaged children on who we have based this story.
“The series Tales of the ‘ONE IN TEN’ begins with Alice & the Giant Emptiness and will continue with further stories of others who have struggled against the effects of disadvantage. Each is a story of hope,” he continued.
The Smith Family’s Chief Executive Officer Dr Lisa O’Brien said, “It is estimated that 1 in 10 children are living in jobless families in Australia today. We find this statistic staggering, but we’ve also found many people are unaware of just how large this group is.
“These films are a new approach to raising awareness about the severe impact that financial disadvantage has on children. These kids have responsibilities beyond their years and they will have limited engagement at school, struggle with their education and underachieve throughout their lives. Research shows the most effective solution is to provide learning support. Through long-term, holistic learning programs, we can help these kids to develop the vital life skills they need so they can create better futures for themselves, hence The Smith Family’s focus on supporting the education of disadvantaged children.”
VIEW THE FILM
http://www.talesoftheoneinten.com
Twitter
@talesofthe1in10
#talesofthe1in10

Websites
http://www.thesmithfamily.com.au
http://www.thesolidstate.com.au
Source: The Solid State

Written by asiafreshnews

February 4, 2014 at 2:18 pm

Posted in Uncategorized

Qualcomm Announces First Quarter Fiscal 2014 Results

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— Revenues $6.6 billion
— GAAP EPS $1.09, Non-GAAP EPS $1.26
– Record Quarterly Revenues –
SAN DIEGO /PRNewswire/ — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the first quarter of fiscal 2014 ended December 29, 2013.
“We are pleased with the start to our fiscal year, with record results in quarterly revenues, device sales reported by licensees and MSM chip shipments,” said Dr. Paul E. Jacobs, Chairman and CEO of Qualcomm. “Looking forward, we expect our performance to reflect the continued strong global growth of smartphones, our chipset leadership position and our competitive strengths in 3G/4G technologies and products.”
First Quarter Results (GAAP)*
Revenues: (1) $6.62 billion, up 10 percent year-over-year (y-o-y) and 2 percent sequentially.
Operating income: (1) $1.49 billion, down 28 percent y-o-y and 6 percent sequentially.
Net income: (2) $1.88 billion, down 2 percent y-o-y and up 25 percent sequentially.
Diluted earnings per share: (2) $1.09, even y-o-y and up 27 percent sequentially.
Effective tax rate: (1) 18 percent.
Operating cash flow: $2.78 billion, up 41 percent y-o-y; 42 percent of revenues.
Return of capital to stockholders: $1.59 billion, including $1.00 billion through repurchases of 14.2 million shares of common stock and $590 million, or $0.35 per share, of cash dividends paid.
(1) The gain on the sale of Omnitracs recorded in the first quarter of fiscal 2014 is presented as discontinued operations. Throughout this news release, revenues, operating expenses, operating income, earnings before tax (EBT) and effective tax rates are from continuing operations (i.e., before adjustments for noncontrolling interests and discontinued operations), unless otherwise stated.
(2) Throughout this news release, net income and diluted earnings per share are attributable to Qualcomm (i.e., after adjustments for noncontrolling interests and discontinued operations), unless otherwise stated.
Non-GAAP First Quarter Results*
Non-GAAP results exclude the QSI (Qualcomm Strategic Initiatives) segment and certain share-based compensation, acquisition-related items and tax items.
Revenues: $6.62 billion, up 10 percent y-o-y and 2 percent sequentially.
Operating income: $1.85 billion, down 24 percent y-o-y and 5 percent sequentially.
Net income: $2.16 billion, down 2 percent y-o-y and up 19 percent sequentially.
Diluted earnings per share: $1.26, even y-o-y and up 20 percent sequentially.
Effective tax rate: 18 percent.
Detailed reconciliations between results reported in accordance with GAAP and Non-GAAP results are included within this news release.
* The following should be considered in regards to the year-over-year and sequential comparisons:
The first quarter of fiscal 2014 results included:
$665 million gain ($430 million after tax), or $0.25 per share, in discontinued operations associated with the sale of substantially all of the operations of our Omnitracs division; and
$444 million charge ($346 million after tax), or $0.20 per share, that resulted from an impairment charge on certain property, plant and equipment related to our QMT division.
The fourth quarter of fiscal 2013 results included:
$173 million charge (before and after tax), or $0.10 per share, related to the verdict in our litigation with ParkerVision.
First Quarter Key Business Metrics
MSMTM chip shipments: 213 million units, up 17 percent y-o-y and 12 percent sequentially.
September quarter total reported device sales: approximately $61.6 billion, up 16 percent y-o-y and 2 percent sequentially.
September quarter estimated 3G/4G device shipments: approximately 276 to 280 million units, at an estimated average selling price of approximately $219 to $225 per unit.
Cash and Marketable Securities
Our cash, cash equivalents and marketable securities totaled $31.6 billion at the end of the first quarter of fiscal 2014, compared to $28.4 billion a year ago and $29.4 billion at the end of the fourth quarter of fiscal 2013. On January 22, 2014, we announced a cash dividend of $0.35 per share payable on March 26, 2014 to stockholders of record as of the close of business on March 5, 2014.
Research and Development

($ in millions) Non-GAAP
QSI
Share-Based Compensation
Acquisition-Related Items
GAAP

First quarter fiscal 2014 $1,152
$2
$173
$1
$1,328

As % of revenues 17%

20%

First quarter fiscal 2013 $949
$1
$156
$-
$1,106

As % of revenues 16%

18%

Year-over-year change ($) 21%
N/M
11%
N/M
20%

N/M – Not Meaningful

Non-GAAP research and development (R&D) expenses increased 21 percent y-o-y primarily due to an increase in costs to develop CDMA-based 3G, OFDMA-based 4G LTE and other technologies for integrated circuit and related software products and to expand our intellectual property portfolio.
Selling, General and Administrative

($ in millions) Non-GAAP
QSI
Share-Based Compensation
Acquisition-Related Items
GAAP

First quarter fiscal 2014 $517
$3
$96
$7
$623

As % of revenues 8%

9%

First quarter fiscal 2013 $468
$7
$105
$7
$587

As % of revenues 8%

10%

Year-over-year change ($) 10%
N/M
(9%)
N/M
6%

N/M – Not Meaningful

Non-GAAP selling, general and administrative (SG&A) expenses increased 10 percent y-o-y primarily due to increases in employee-related expenses and selling and marketing expenses, partially offset by a decrease in costs related to litigation and other legal matters.
Effective Income Tax Rates
Our fiscal 2014 annual effective income tax rates are estimated to be approximately 18 percent for GAAP and approximately 17 to 19 percent for Non-GAAP, both of which include an estimate of the United States federal R&D tax credit expected to be generated through December 31, 2013, the date on which the credit expired. The first quarter of fiscal 2014 effective income tax rates were 18 percent for both GAAP and Non-GAAP.
Business Outlook
The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our annual and quarterly reports on file with the Securities and Exchange Commission (SEC) provide a more complete description of risks.
Our outlook does not include provisions for future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as realized investment and certain derivative gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our business outlook to the extent they are reasonably certain; however, actual results may vary materially from the business outlook.
Our outlook for fiscal 2014 diluted earnings per share includes an estimate of the benefit related to approximately $3 billion in stock repurchases that we plan to complete over the remainder of fiscal 2014 under our current stock repurchase program.
The following table summarizes GAAP and Non-GAAP guidance based on the current business outlook. The Non-GAAP business outlook presented below is consistent with the presentation of Non-GAAP results included elsewhere herein.

Qualcomm’s Business Outlook Summary

SECOND FISCAL QUARTER

Q2 FY13
Results Current Guidance
Q2 FY14 Estimates

Revenues
$6.12B
$6.1B – $6.7B

Year-over-year change
even – increase 9%

Non-GAAP diluted earnings per share (EPS)
$1.17
$1.15 – $1.25

Year-over-year change
decrease 2% – increase 7%

Diluted EPS attributable to QSI
$0.02
$0.00

Diluted EPS attributable to share-based compensation
($0.12)

($0.12)

Diluted EPS attributable to acquisition-related items
($0.05)

($0.04)

Diluted EPS attributable to tax items
$0.04
N/A

GAAP diluted EPS
$1.06
$0.99 – $1.09

Year-over-year change
decrease 7% – increase 3%

Metrics

MSM chip shipments 173M
180M – 195M

Year-over-year change
increase 4% – 13%

Total reported device sales (1) approx. $61.1B*
approx. $66.5B – $72.5B*

Year-over-year change
increase 9% – 19%

*Est. sales in December quarter, reported in March quarter

FISCAL YEAR

FY 2013
Results Prior Guidance
FY 2014 Estimates (2) Current Guidance
FY 2014 Estimates (2)

Revenues $24.87B
$26.0B – $27.5B
$26.0B – $27.5B

Year-over-year change
increase 5% – 11%
increase 5% – 11%

Non-GAAP diluted EPS $4.51
$4.95 – $5.15
$5.00 – $5.20

Year-over-year change
increase 10% – 14%
increase 11% – 15%

Diluted EPS attributable to QSI $0.02

($0.03)
$0.00

Diluted EPS attributable to share-based compensation ($0.51)

($0.51)

($0.51)

Diluted EPS attributable to acquisition-related items ($0.16)

($0.16)

($0.16)

Diluted EPS attributable to tax items $0.04
N/A
N/A

GAAP diluted EPS $3.91
$4.25 – $4.45
$4.33 – $4.53

Year-over-year change
increase 9% – 14%
increase 11% – 16%

Metrics

Est. fiscal year* 3G/4G-based device average selling price range (1) approx. $223 – $229
approx. $216 – $230
approx. $216 – $230

*Shipments in Sept. to June quarters, reported in Dec. to Sept. quarters

CALENDAR YEAR Device Estimates (1)

Prior Guidance Calendar 2013
Estimates Current Guidance
Calendar 2013
Estimates Prior Guidance
Calendar 2014
Estimates Current Guidance
Calendar 2014
Estimates

Est. 3G/4G device shipments

March quarter approx. 244M – 248M approx. 244M – 248M not provided not provided

June quarter approx. 260M – 264M approx. 260M – 264M not provided not provided

September quarter not provided approx. 276M – 280M not provided not provided

December quarter not provided not provided not provided not provided

Est. calendar year range (approx.) 1,075M – 1,125M 1,080M – 1,120M 1,220M – 1,300M 1,220M – 1,300M

Est. calendar year midpoint (approx.) (3) 1,100M 1,100M 1,260M 1,260M

(1) Total reported device sales is the sum of all reported sales in U.S. dollars (as reported to us by our licensees) of all licensed CDMA-based, OFDMA-based and CDMA/OFDMA multimode subscriber devices (including handsets, modules, modem cards and other subscriber devices) by our licensees during a particular period (collectively, 3G/4G devices). The reported quarterly estimated ranges of average selling prices (ASPs) and unit shipments are determined based on the information as reported to us by our licensees during the relevant period and our own estimates of the selling prices and unit shipments for licensees that do not provide such information. Not all licensees report sales, selling prices and/or unit shipments the same way (e.g., some licensees report selling prices net of permitted deductions, such as transportation, insurance and packing costs, while other licensees report selling prices and then identify the amount of permitted deductions in their reports), and the way in which licensees report such information may change from time to time. Total reported device sales, estimated unit shipments and estimated ASPs for a particular period may include prior period activity that was not reported by the licensee until such particular period.

(2) Our prior and current outlook for FY 2014 diluted earnings per share includes an estimate of the benefit related to stock repurchases that we plan to complete during the fiscal year. FY 2014 guidance also reflects an annual effective tax rate that includes an estimate of the United States federal R&D tax credit expected to be generated through December 31, 2013, the date on which the credit expired.

(3) The midpoints of the estimated calendar year ranges are identified for comparison purposes only and do not indicate a higher degree of confidence in the midpoints.

N/A – Not Applicable
Sums may not equal totals due to rounding.

Results of Business Segments
The following table reconciles our Non-GAAP results to our GAAP results ($ in millions, except per share data):

SEGMENTS QCT QTL Non-GAAP
Reconciling
Items (1) (2) Non-GAAP
(3) QSI (3) Share-
Based
Compensation (3) Acquisition-
Related
Items (3) Tax
Items GAAP

Q1 – FISCAL 2014

Revenues $4,616 $1,900 $106 $6,622
$- $- $- $-
$6,622

Change from
prior year 12% 8% (25%) 10%

10%

Change from prior quarter 4% 1% (29%) 2%

2%

Operating income (loss)

$1,848
($5) ($281) ($69) $-
$1,493

Change from prior year

(24%)
38% -% 1%

(28%)

Change from prior quarter

(5%)
55% (3%) (3%)

(6%)

EBT $906 $1,670 ($473) $2,103
$4 ($281) ($69) $-
$1,757

Change from prior year (15%) 9% N/M (22%)
N/M -% 1%

(24%)

Change from prior quarter 29% 3% N/M (3%)
N/M (3%) (3%)

(4%)

EBT as % of revenues 20% 88% N/M 32%

27%

Discontinued operations, net of tax (4)

$430
$- $- $- $-
$430

Net income (loss)

$2,163
$4 ($226) ($66) $-
$1,875

Change from prior year

(2%)
N/M (3%) 1% N/A
(2%)

Change from prior quarter

19%
N/M -% 1% N/A
25%

Diluted EPS

$1.26
$0.00 ($0.13) ($0.04) $-
$1.09

Change from prior year

-%
N/M (8%) -% N/A
-%

Change from prior quarter

20%
N/M -% -% N/A
27%

Diluted shares used

1,722
1,722 1,722 1,722 1,722
1,722

Q4 – FISCAL 2013

Revenues $4,457 $1,874 $149 $6,480
$- $- $- $-
$6,480

Operating income (loss)

1,940
(11) (274) (67) –
1,588

EBT $702 $1,622 ($151) 2,173
(11) (274) (67) –
1,821

Net income (loss)

1,818
(24) (226) (67) –
1,501

Diluted EPS

$1.05
($0.01) ($0.13) ($0.04) $-
$0.86

Diluted shares used

1,738
1,738 1,738 1,738 1,738
1,738

Q1 – FISCAL 2013

Revenues $4,120 $1,757 $141 $6,018
$- $- $- $-
$6,018

Operating income (loss)

2,447
(8) (281) (70) –
2,088

EBT $1,068 $1,532 $95 2,695
(17) (281) (70) –
2,327

Net income (loss)

2,204
(12) (219) (67) –
1,906

Diluted EPS

$1.26
($0.01) ($0.12) ($0.04) $-
$1.09

Diluted shares used

1,751
1,751 1,751 1,751 1,751
1,751

Q2 – FISCAL 2013

Revenues $3,916 $2,057 $151 $6,124
$- $- $- $-
$6,124

Operating income (loss)

2,233
(5) (268) (83) –
1,877

EBT $681 $1,803 ($30) 2,454
33 (268) (83) –
2,136

Net income (loss)

2,066
36 (220) (80) 64
1,866

Diluted EPS

$1.17
$0.02 ($0.12) ($0.05) $0.04
$1.06

Diluted shares used

1,763
1,763 1,763 1,763 1,763
1,763

12 MONTHS – FISCAL 2013

Revenues $16,715 $7,554 $597 $24,866
$- $- $- $-
$24,866

Operating income (loss)

8,657
(31) (1,103) (293) –
7,230

EBT $3,189 $6,590 ($245) 9,534
56 (1,103) (293) –
8,194

Net income (loss)

7,911
43 (886) (279) 64
6,853

Diluted EPS

$4.51
$0.02 ($0.51) ($0.16) $0.04
$3.91

Diluted shares used

1,754
1,754 1,754 1,754 1,754
1,754

(1) Non-GAAP reconciling items related to revenues consisted primarily of nonreportable segment revenues less intersegment eliminations. Non-GAAP reconciling items related to earnings before taxes consisted primarily of certain costs of equipment and services revenues, research and development expenses, sales and marketing expenses, other operating expenses and certain investment income or losses and interest expense that are not allocated to the segments for management reporting purposes; nonreportable segment results; and the elimination of intersegment profit.

(2) During the first quarter of fiscal 2014, as a result of the reassessment of management reporting, the Qualcomm Wireless & Internet (QWI) segment was eliminated. Revenues and operating results for the divisions that comprised the QWI segment are included in Non-GAAP reconciling items. Prior period information has been adjusted to conform to the current presentation.

(3) At fiscal year end, the sum of the quarterly tax provision (benefit) for each column equals the annual tax provision (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these provisions (benefits) may not equal the total GAAP tax provision, and this difference is allocated to tax provisions (benefits) among the columns.

(4) During the first quarter of fiscal 2014, a gain of $665 million was recorded associated with the sale of substantially all of the operations of our Omnitracs division.

N/M – Not Meaningful
N/A – Not Applicable
Sums may not equal totals due to rounding.

Conference Call
Qualcomm’s first quarter fiscal 2014 earnings conference call will be broadcast live on January 29, 2014, beginning at 1:45 p.m. Pacific Time (PT) at http://investor.qualcomm.com/events.cfm. This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and information reconciling these Non-GAAP financial measures to the Company’s financial results prepared in accordance with GAAP, as well as other financial and statistical information to be discussed on the conference call, will be posted at http://www.qualcomm.com/investor immediately prior to commencement of the call. An audio replay will be available at http://investor.qualcomm.com/events.cfm and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (855) 859-2056 and international callers may dial (404) 537-3406. Callers should use reservation number 31476192.
Note Regarding Use of Non-GAAP Financial Measures
The Non-GAAP financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. In addition, “Non-GAAP” is not a term defined by GAAP, and as a result, the Company’s measure of Non-GAAP results might be different than similarly titled measures used by other companies. Reconciliations between GAAP and Non-GAAP results are presented herein.
The Company uses Non-GAAP financial information (i) to evaluate, assess and benchmark the Company’s operating results on a consistent and comparable basis; (ii) to measure the performance and efficiency of the Company’s ongoing core operating businesses, including the QCT (Qualcomm CDMA Technologies) and QTL (Qualcomm Technology Licensing) segments; and (iii) to compare the performance and efficiency of these segments against each other and against competitors. Non-GAAP measurements of the following financial data are used by the Company: revenues, cost of equipment and services revenues, R&D expenses, SG&A expenses, operating income, net investment income, income or earnings before income taxes, effective tax rate, net income, diluted earnings per share, operating cash flow and free cash flow. The Company is able to assess what it believes is a more meaningful and comparable set of financial performance measures for the Company and its business segments by using Non-GAAP information. As a result, management compensation decisions and the review of executive compensation by the Compensation Committee of the Board of Directors focus primarily on Non-GAAP financial measures applicable to the Company and its business segments. The Company presents Non-GAAP financial information to provide greater transparency to investors with respect to its use of such information in financial and operational decision-making.
Non-GAAP information used by management excludes QSI and certain share-based compensation, acquisition-related items and tax items.
QSI is excluded because the Company expects to exit its strategic investments at various times, and the effects of fluctuations in the value of such investments and realized gains or losses are viewed by management as unrelated to the Company’s operational performance.
Share-based compensation expense primarily relates to restricted stock units. Certain share-based compensation is excluded because management views such expenses as unrelated to the operating activities of the Company’s ongoing core businesses. Further, the fair values of share-based awards are affected by factors that are variable on each grant date, which may include the Company’s stock price, stock market volatility, expected award life, risk-free interest rates and expected dividend payouts in future years.
Acquisition-related items include amortization and impairment of certain intangible assets, recognition of the step-up of inventories to fair value and the related tax effects of these items starting with acquisitions completed in the third quarter of fiscal 2011, as well as any tax effects from restructuring the ownership of such acquired assets. Additionally, the Company excludes expenses related to the termination of contracts that limit the use of the acquired intellectual property. These acquisition-related items are excluded and are not allocated to the Company’s segments because management views such expenses as unrelated to the operating activities of the Company’s ongoing core businesses. In addition, these charges are impacted by the size and timing of acquisitions, potentially obscuring period-to-period comparisons of the Company’s operating businesses.
Certain tax items that are unrelated to the fiscal year in which they were recorded are excluded in order to provide a clearer understanding of the Company’s ongoing Non-GAAP tax rate and after tax earnings.
About Qualcomm
Qualcomm Incorporated (Nasdaq: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm’s licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm’s engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit http://www.qualcomm.com .
Note Regarding Forward-Looking Statements
In addition to the historical information contained herein, this news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding our expectations for our performance to reflect continued strong global growth of smartphones, our chipset leadership position and our competitive strengths in 3G/4G technologies and products; stock repurchases that we plan to complete over the remainder of fiscal 2014 under our current stock repurchase program; our business outlook; and our estimates and guidance related to revenues, GAAP and Non-GAAP diluted earnings per share, MSM chip shipments, total reported device sales, 3G/4G device average selling price ranges and 3G/4G device shipments, ranges and midpoints. Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to risks associated with the commercial deployment of CDMA, OFDMA and other communications technologies, continuing growth in our customers’ and licensees’ sales of products and services based on these technologies and our ability to continue to drive customer demand for our products and services based on these technologies; competition; our dependence on a small number of customers and licensees; the continued and future success of our licensing programs; attacks on our licensing business model, including current and future legal proceedings or actions of governmental or quasi-governmental bodies or standards or industry organizations; the enforcement and protection of our intellectual property rights; the commercial success of our new technologies, products and services; claims by third parties that we infringe their intellectual property; our dependence on a limited number of third-party suppliers; our stock price and earnings volatility; government regulations and policies; acquisitions, strategic transactions and investments; global economic conditions that impact the mobile communications industry; foreign currency fluctuations; and failures in our products or services or in the products of our customers, including those resulting from security vulnerabilities, defects or errors. These and other risks are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 29, 2013 and Quarterly Report on Form 10-Q for the first quarter ended December 29, 2013 filed with the SEC. Our reports filed with the SEC are available on our website at http://www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.
Qualcomm and MSM are trademarks of Qualcomm Incorporated, registered in the United States and other countries. All other trademarks are the property of their respective owners.
Qualcomm Contact:
Warren Kneeshaw
Vice President, Investor Relations
Phone: 1-858-658-4813
e-mail: ir@qualcomm.com

Supplemental Information

(Unaudited)

Three Months Ended December 29, 2013

Non-GAAP
Results QSI Share-
Based
Compensation Acquisition-
Related
Items GAAP
Results

($ in millions, except per share data)

Cost of equipment and services revenues
$2,633

$-

$12

$61

$2,706

R&D
1,152

2

173

1

1,328

SG&A
517

3

96

7

623

Other expenses
472 (a)

472

Operating income (loss)
1,848

(5)

(281)

(69)

1,493

Investment income, net
$255 (b)
$9 (c)
$-

$-

$264

Tax rate
18%

25%

20%

4%

18%

Net income (loss)
$2,163

$4

$(226)

$(66)

$1,875

Diluted EPS
$1.26

$0.00

$(0.13)

$(0.04)

$1.09

(a) Included a $444 million loss, or $0.20 per share, that resulted from an impairment charge on certain property, plant and equipment related to our QMT division, a $16 million goodwill impairment charge related to our QRS division and a $12 million charge related to the ParkerVision verdict.

(b) Included $156 million in interest and dividend income, $126 million in net realized gains on investments and $6 million in net gains on derivatives, partially offset by $30 million in other-than-temporary losses on investments and $3 million in interest expense.

(c) Included $19 million in net realized gains on investments, partially offset by $7 million in other-than-temporary losses on investments, $2 million in net losses on derivatives and $1 million in equity in losses of investees.

Sums may not equal totals due to rounding.

Reconciliation of Non-GAAP Tax Rates to GAAP Tax Rates (a)

($ in millions)

(Unaudited)

Three Months Ended December 29, 2013

Non-GAAP
Results
QSI
Share-Based
Compensation
Acquisition-
Related Items
GAAP
Results

Income (loss) from continuing operations before income taxes $2,103
$4
$(281)
$(69)
$1,757

Income tax (expense) benefit (370)
(1)
55
3
(313)

Income (loss) from continuing operations $1,733
$3
$(226)
$(66)
$1,444

Tax rate 18%
25%
20%
4%
18%

(a) At fiscal year end, the sum of the quarterly tax provision (benefit) for each column equals the annual tax provision (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these provisions (benefits) may not equal the total GAAP tax provision, and this difference is allocated to tax provisions (benefits) among the columns.

Qualcomm Incorporated
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except per share data)
(Unaudited)

December 29,
2013 September 29,
2013
ASSETS
Current assets:

Cash and cash equivalents $ 8,292 $ 6,142
Marketable securities 8,988 8,824
Accounts receivable, net 1,327 2,142

Inventories 1,064 1,302
Deferred tax assets 404 573
Other current assets 510 572
Total current assets 20,585 19,555
Marketable securities 14,330 14,440
Deferred tax assets 1,346 1,059
Property, plant and equipment, net 2,562 2,995
Goodwill 4,212 3,976
Other intangible assets, net 2,490 2,553
Other assets 757 938
Total assets $ 46,282 $ 45,516

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable $ 1,375 $ 1,554
Payroll and other benefits related liabilities 706 839
Unearned revenues 470 501
Other current liabilities 2,762 2,319
Total current liabilities 5,313 5,213
Unearned revenues 3,566 3,666
Other liabilities 376 550
Total liabilities 9,255 9,429

Stockholders’ equity:
Qualcomm stockholders’ equity:

Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding – –
Common stock, $0.0001 par value; 6,000 shares authorized; 1,687 and 1,685 shares issued and outstanding, respectively – –
Paid-in capital 9,506 9,874
Retained earnings 26,737 25,461
Accumulated other comprehensive income 784 753

Total Qualcomm stockholders’ equity 37,027 36,088
Noncontrolling interests – (1)
Total stockholders’ equity 37,027 36,087

Total liabilities and stockholders’ equity $ 46,282 $ 45,516

Qualcomm Incorporated
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)

Three Months Ended

December 29,
2013 December 30,
2012
Revenues:
Equipment and services $ 4,653 $ 4,199
Licensing 1,969 1,819
Total revenues 6,622 6,018
Costs and expenses:
Cost of equipment and services revenues 2,706 2,237
Research and development 1,328 1,106
Selling, general and administrative 623 587
Other 472 –
Total costs and expenses 5,129 3,930
Operating income 1,493 2,088
Investment income, net 264 239
Income from continuing operations before income taxes 1,757 2,327
Income tax expense (313) (424)
Income from continuing operations 1,444 1,903
Discontinued operations, net of income taxes 430 –

Net income 1,874 1,903
Net loss attributable to noncontrolling interests 1 3
Net income attributable to Qualcomm $ 1,875 $ 1,906

Basic earnings per share attributable to Qualcomm:

Continuing operations $ 0.86 $ 1.12
Discontinued operations 0.25 –
Net income $ 1.11 $ 1.12
Diluted earnings per share attributable to Qualcomm:
Continuing operations $ 0.84 $ 1.09
Discontinued operations 0.25 –
Net income $ 1.09 $ 1.09

Shares used in per share calculations:
Basic 1,688 1,709
Diluted 1,722

1,751

Dividends per share announced $ 0.35 $ 0.25

Qualcomm Incorporated
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

Three Months Ended

December 29,
2013 December 30,
2012
Operating Activities:

Net income $ 1,874

$ 1,903

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization expense 272 241

Gain on sale of discontinued operations (665) –

Goodwill and long-lived asset impairment charges 460 5

Revenues related to non-monetary exchanges (31)
(31)

Income tax provision in excess of income tax payments 258 195

Non-cash portion of share-based compensation expense 282 283
Incremental tax benefits from share-based compensation (99) (61)
Net realized gains on marketable securities and other investments (145) (96)
Net impairment losses on marketable securities and other investments 37 10
Other items, net 33 24
Changes in assets and liabilities:
Accounts receivable, net 788 (185)
Inventories 237 (247)

Other assets 69 (51)
Trade accounts payable (148) 376
Payroll, benefits and other liabilities (342) (387)
Unearned revenues (99) (4)
Net cash provided by operating activities 2,781
1,975
Investing Activities:
Capital expenditures (210) (205)
Purchases of available-for-sale securities (2,055) (3,289)
Proceeds from sales and maturities of available-for-sale securities 2,168 2,226
Purchases of trading securities (785) (970)
Proceeds from sales and maturities of trading securities 773 1,024
Proceeds from sale of discontinued operations, net of cash sold 788 –
Acquisitions and other investments, net of cash acquired (315) (39)
Other items, net 81 26
Net cash provided (used) by investing activities 445 (1,227)
Financing Activities:
Proceeds from issuance of common stock 441 340
Incremental tax benefits from share-based compensation 99 61
Repurchases and retirements of common stock (1,002) (250)
Dividends paid (590) (428)
Other items, net (21) 2
Net cash used by financing activities (1,073) (275)
Changes in cash and cash equivalents held for sale (4) 13
Effect of exchange rate changes on cash and cash equivalents 1 –
Net increase in cash and cash equivalents 2,150 486
Cash and cash equivalents at beginning of period 6,142 3,807
Cash and cash equivalents at end of period $ 8,292 $ 4,293

Source: Qualcomm Incorporated
Related stocks: NASDAQ-NMS:QCOM

Written by asiafreshnews

February 4, 2014 at 2:14 pm

Posted in Uncategorized

Free iPhytter 2 Smartphone Communication App Now Available in Apple App Store and Google Play

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IRVINE, Calif., Jan. 30, 2014 /PRNewswire/ — Smartphone owners can more frequently connect with loved ones and associates at no cost by using iPhytter 2, the newest VoIP communication app, available to download for free, on Apple App Store and Google Play. Nothing beats iPhytter 2 that offers all essential features for free, including calling, instant messaging, and video chatting between in-network users, and incredibly low rate for others. The simple design keeps the app user-friendly for all ages and meets the demand for personal and professional use while drastically saving on monthly phone bills.
FREE iPhytter 2 Mobile Communication App to Connect with Everyone, Wherever they are.
FREE iPhytter 2 Mobile Communication App to Connect with Everyone, Wherever they are.
iPhytter 2 is the free new version of the popular iPhytter mobile communication app used by thousands worldwide. It is the newest addition to the expanding PHYTTER® communication line which offers a wide selection of communication methods between cell phones, landlines, laptops, desktops and fax machines that can be used in various settings.
Key features of iPhytter 2 include:
FREE download
FREE or very cheap calling rates for domestic and international calls
NO connection fee
Convenient Chat function to stay in touch despite noise condition
Real time Audio-Video feature to feel more connected
Simple design with superb usability
New iPhytter 2 users can maximize their experience by using the app as the main source of communication with their friends, family and associates, and by utilizing other PHYTTER products and services.
To learn more about Phytter, please visit http://www.Phytter.com.
To learn more about Interush, please visit http://www.Interush.com
Source: Interush Inc.

Written by asiafreshnews

February 4, 2014 at 12:17 pm