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Archive for April 25th, 2014

Kraton Enhances Polymer Offerings

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– Technology Allows for Revolutionary Process Capabilities and Performance Attributes

HOUSTON, April 24, 2014 /PRNewswire/ — Kraton Performance Polymers, Inc. (NYSE: KRA), a leading global innovator and producer of Styrenic Block Copolymers (SBCs) and other engineered polymers, today announced the introduction of two new hydrogenated styrenic block copolymers (HSBCs). Kraton™ MD6951 and MD1648 present a unique balance of high elasticity, extraordinary tensile strength and exceptional lower melt viscosity, which will allow for a host of new process applications to be explored. Both polymers are an extension of the versatile family of HSBCs – Kraton A and ERS polymers – and will enable innovators to pursue melt blown, injection molding, rotational molding, compression molding, or textile processes, while maintaining the softness, strength, and pliability of their products.

Kraton™ MD6951
MD6951 is the newest HSBC in the Kraton A family, and has an enhanced flow capability never before seen on the market. It has several potential applications, including soft touch over molding, which produces such products as cell phone protectors and power tool grips, protective cling films and sound dampening materials. MD6951 maintains the reliability and hallmarks of the Kraton A family, such as softness, ease of use and compatibility. Additionally, its increased polarity makes it compatible with thermoplastic polyurethane, polystyrene, polyphenylene oxide, among others. MD6951 is FDA-compliant, possesses exceptional elasticity, and makes everyday products more durable, resilient and comfortable – adding value for product innovators, while expanding process application techniques.

Kraton™ MD1648
MD1648 is an enhanced rubber segment (ERS) styrenic block copolymer. ERS polymers are compatible with polyolefins such as polypropylene and polyethylene – plastics used in such materials as elastic non-wovens for applications such as surgical and protective apparel, diapers and industrial textiles. Historically, SBCs had certain limitations because of high viscosity making them unsuitable for fine fiber processing. However, because MD1648 possesses high elasticity and strength together with exceptionally low viscosity, it can run on existing melt blown process equipment. This opens the door for manufacturers to create products that are more flexible, softer and can produce quieter fabric constructions. In addition, MD1648 may be leveraged to improve polypropylene modified household goods, automotive parts, hot melt adhesives like bonding tapes, spray and aerosol adhesives, and insulating materials.

According to Lothar Freund, Vice President of Technology at Kraton, “We are excited about what these two technical advances mean for our customers and the future of the polymer industry. MD6951 and MD1648 allow many different industries to explore new markets and uncover new process applications that were never before available. We are proud to bridge this gap that will allow innovators across the globe to produce new and better products that will enhance our everyday lives.”

About Kraton Polymers
Kraton Performance Polymers, Inc., through its operating subsidiary Kraton Polymers LLC and its subsidiaries, is a leading global producer of engineered polymers and styrenic block copolymers (“SBCs”), a family of products whose chemistry was pioneered by us almost fifty years ago. SBCs are highly-engineered thermoplastic elastomers, which enhance the performance of numerous products by delivering a variety of attributes, including greater flexibility, resilience, strength, durability and processability. Our polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving, roofing and footwear products. We currently offer our products to a diverse group of more than 800 customers in over 60 countries worldwide, and are the only SBC producer with manufacturing and service capabilities on four continents. We manufacture products at five plants globally, including our flagship plant in Belpre, Ohio, as well as plants in Germany, France and Brazil, and a joint venture plant operated in Japan.
Forward Looking Statements
This press release may contain “forward-looking statements,” which are statements other than statements of historical fact and are often characterized by the use of words such as “believes,” “expects,” “estimates,” “projects,” “may,” “will,” “intends,” “plans” or “anticipates,” or by discussions of strategy, anticipated performance, plans or intentions. All forward-looking statements in this press release are made based on management’s current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These risks and uncertainties are more fully described in “Part I. Item 1A. Risk Factors” contained in our Annual Report on 10-K, as filed with the Securities and Exchange Commission and as subsequently updated in our Quarterly Reports on Form 10-Q. We hereby make reference to all such filings for all purposes. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information.
Kraton, the Kraton logo and design, Cariflex, Nexar and the “Giving Innovators their Edge” tagline are all trademarks of Kraton Polymers LLC. © Kraton Performance Polymers, Inc. 2014. All rights reserved.
Media Contacts:
Michelle Mason, Director of Marketing, Kraton Performance Polymers, Inc.
T: +1-281-504-4754 | F: +1-281-504-4755 | E: Michelle.Mason@Kraton.com
Molly LeCronier or Shanta Mauney, Ward Creative Communications
T: +1-713-869-0707 | E: mlecronier@wardcc.com | E: smauney@wardcc.com
Investor Contact:
Gene Shiels, Director of Investor Relations, Kraton Performance Polymers, Inc.
T: +1-281-504-4886 | E: Gene.Shiels@Kraton.com
Logo – http://photos.prnewswire.com/prnh/20100728/DA42514LOGO
Source: Kraton Performance Polymers, Inc.

Written by asiafreshnews

April 25, 2014 at 5:16 pm

InformEx Announces Call for Speakers to Present at 2015 Conference & Expo in New Orleans

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— Abstracts are now being accepted for education sessions that highlight trends and business insights for the custom and specialty chemical sector

HAMILTON, N.J., April 24, 2014 /PRNewswire/ — InformEx, North America’s leading business partnering event and educational resource for buyers and sellers of high-value chemistry, invites speakers to submit proposals for education sessions to be held during the 31st edition of InformEx, Feb. 3-6, 2015 at the Morial Convention Center in New Orleans.

Photo – http://photos.prnewswire.com/prnh/20140423/77723

InformEx fosters the continuous advancement of the fine, specialty and custom chemicals industry by providing networking tools, continual educational opportunities and community collaboration forums — all designed to accelerate personal and professional growth in the changing chemical enterprise landscape.

“Through ongoing education, InformEx provides industry leaders with the tools they need to adapt to the changing industry landscape and grow their business,” said Lauren Belmont, InformEx brand marketing manager. “We’re looking for another great lineup of speakers and session topics for our 2015 event, which we’re thrilled to be bringing back to New Orleans.”

Speakers at InformEx 2014 in Miami Beach, Fla., covered a diverse range of emerging issues and trends relevant to the chemical industry, including personalized medicine, green chemistry, shale gas and 3-D printing, among many other topics. Next year’s event is expected to draw more than 3,500 attendees and hundreds of exhibitors from top pharmaceutical, fine chemical and specialty chemical companies. Registration for InformEx 2015 opens in mid-August.

The deadline for speaker abstracts is Friday, June 27. Those who are interested in submitting a proposal for InformEx 2015 should follow these guidelines:

Limit abstracts to 350 words, covering the primary topic category and key points that will be communicated during the education session.
Include contact information and a brief biography (100-word maximum) of the presenting speaker.
Share proposed session title of the speaker’s presentation.
Ensure that the session will offer a clear educational value and will be non-promotional in nature.
If available, provide a sampling of data and sources to be cited in the presentation.

Submit your presentation proposal through this link: http://www.informex.com/call-for-speakers.

In addition to submitted speaker abstracts, InformEx is interested in hearing suggestions for high-interest topics or speakers who are not part of your organization. To make a recommendation for a speaker or topic, contact the education session organizers at informex@chempetitive.com.

InformEx reserves the right to accept abstracts at their discretion in order to assemble the best possible program. InformEx is a marquee event for manufacturers, distributors and service providers to the fine, specialty, and custom chemical industry. For more information, visit http://www.informex.com.

About InformEx
Produced by UBM, InformEx is committed to the continuous advancement of the fine, specialty, and custom chemicals industry by providing networking tools, educational opportunities and community collaboration forums — all designed to accelerate growth in the changing chemical enterprise landscape. The annual InformEx event is the premier must-attend exposition for the chemical industry for the past 30 years, providing a platform for in-person networking and business development. Each year the event brings together an international mix of more than 3,500 fine and specialty chemicals professionals and hundreds of exhibitors. To learn more, visit http://www.informex.com.
Source: InformEx

Written by asiafreshnews

April 25, 2014 at 3:02 pm

Posted in Uncategorized

Qualcomm Announces Second Quarter Fiscal 2014 Results

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Revenues $6.4 billion
GAAP EPS $1.14, Non-GAAP EPS $1.31
Record Quarterly Non-GAAP EPS; Raising Fiscal 2014 EPS Guidance –

SAN DIEGO, April 24, 2014 /PRNewswire/ — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the second quarter of fiscal 2014 ended March 30, 2014.

“We delivered another solid quarter, driven by demand for our leading multimode 3G/LTE chipset solutions and record licensing revenues,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “Looking forward, we are pleased to be raising our earnings per share guidance for the fiscal year. We continue to see increasing demand for our industry-leading chipsets and strong growth in calendar year 2014 of 3G/4G smartphones around the world.”

Second Quarter Results (GAAP)*

Revenues: (1) $6.37 billion, up 4 percent year-over-year (y-o-y) and down 4 percent sequentially.
Operating income: (1) $1.99 billion, up 6 percent y-o-y and 33 percent sequentially.
Net income: (2) $1.96 billion, up 5 percent y-o-y and 4 percent sequentially.
Diluted earnings per share: (2) $1.14, up 8 percent y-o-y and 5 percent sequentially.
Effective tax rate: (1) 14 percent.
Operating cash flow: $1.81 billion, down 18 percent y-o-y; 28 percent of revenues.
Return of capital to stockholders: $1.59 billion, including $1.00 billion through repurchases of 13.4 million shares of common stock and $589 million, or $0.35 per share, of cash dividends paid.

(1) 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 Second Quarter Results*

Non-GAAP results exclude the QSI (Qualcomm Strategic Initiatives) segment and certain share-based compensation, acquisition-related items and tax items.

Revenues: $6.37 billion, up 4 percent y-o-y and down 4 percent sequentially.
Operating income: $2.34 billion, up 5 percent y-o-y and 26 percent sequentially.
Net income: $2.26 billion, up 9 percent y-o-y and 4 percent sequentially.
Diluted earnings per share: $1.31, up 12 percent y-o-y and 4 percent sequentially.
Effective tax rate: 15 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 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.

Second Quarter Key Business Metrics

MSM™ chip shipments: 188 million units, up 9 percent y-o-y and down 12 percent sequentially.
December quarter total reported device sales: approximately $66.5 billion, up 9 percent y-o-y and 8 percent sequentially.
December quarter estimated 3G/4G device shipments: approximately 295 to 299 million units, at an estimated average selling price of approximately $221 to $227 per unit.

Cash and Marketable Securities

Our cash, cash equivalents and marketable securities totaled $32.1 billion at the end of the second quarter of fiscal 2014, compared to $30.5 billion a year ago and $31.6 billion at the end of the first quarter of fiscal 2014. On April 8, 2014, we announced a cash dividend of $0.42 per share payable on June 25, 2014 to stockholders of record as of the close of business on June 4, 2014, which represents a 20 percent increase over our prior quarterly dividend.

Research and Development

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

Second quarter fiscal 2014 $ 1,170
$ 1
$ 163
$ 22
$ 1,356

As % of revenues 18%

21%

Second quarter fiscal 2013 $ 1,056
$ 1
$ 156
$ 1
$ 1,214

As % of revenues 17%

20%

Year-over-year change ($) 11%
N/M
4%
N/M
12%

N/M – Not Meaningful

Non-GAAP research and development (R&D) expenses increased 11 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

Second quarter fiscal 2014 $ 453
$ 5
$ 75
$ 6
$ 539

As % of revenues 7%

8%

Second quarter fiscal 2013 $ 556
$ 4
$ 95
$ 6
$ 661

As % of revenues 9%

11%

Year-over-year change ($) (19%)
25%
(21%)
N/M
(18%)

N/M – Not Meaningful

Non-GAAP selling, general and administrative (SG&A) expenses decreased 19 percent y-o-y primarily due to decreases in costs related to litigation and other legal matters, employee-related expenses and patent-related expenses.

Effective Income Tax Rates

Our fiscal 2014 annual effective income tax rates are estimated to be 16 percent for GAAP and Non-GAAP, both of which include an estimate of the United States federal R&D tax credit generated through December 31, 2013, the date on which the credit expired. Our estimated annual tax rates decreased from our prior estimate primarily as a result of an increase in our estimate of foreign income taxed at rates lower than rates in the United States, which was partially the result of an agreement recently reached with the Internal Revenue Service related to transfer pricing. Also as a result of this agreement, we expect to record a tax benefit of approximately $65 million during the third quarter of fiscal 2014 related to our fiscal 2013 tax return, which will be excluded from Non-GAAP results and is excluded from our guidance.

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 outlook to the extent they are reasonably certain; however, actual results may differ materially from the outlook.

Our outlook for fiscal 2014 diluted earnings per share includes an estimate of the benefit related to approximately $2 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 outlook. The Non-GAAP outlook presented below is consistent with the presentation of Non-GAAP results included elsewhere herein.

Qualcomm’s Business Outlook Summary

THIRD FISCAL QUARTER

Q3 FY13
Results Current Guidance
Q3 FY14 Estimates (1)

Revenues $6.24B $6.2B – $6.8B

Year-over-year change
decrease 1% – increase 9%

Non-GAAP diluted earnings per share (EPS) $1.03 $1.15 – $1.25

Year-over-year change
increase 12% – 21%

Diluted EPS attributable to QSI $0.02 $0.00

Diluted EPS attributable to share-based compensation ($0.13) ($0.13)

Diluted EPS attributable to acquisition-related items ($0.04) ($0.04)

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

GAAP diluted EPS $0.90 $0.98 – $1.08

Year-over-year change
increase 9% – 20%

Metrics

MSM chip shipments 172M 198M – 213M

Year-over-year change
increase 15% – 24%

Total reported device sales (2) approx. $56.5B* approx. $56.0B – $62.0B*

Year-over-year change
decrease 1% – increase 10%

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

FISCAL YEAR

FY 2013
Results Prior Guidance
FY 2014 Estimates (3) Current Guidance
FY 2014
Estimates (1) (3)

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 $5.00 – $5.20 $5.05 – $5.25

Year-over-year change
increase 11% – 15% increase 12% – 16%

Diluted EPS attributable to QSI $0.02 $0.00 ($0.01)

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 $4.33 – $4.53 $4.37 – $4.57

Year-over-year change
increase 11% – 16% increase 12% – 17%

Metrics

Est. fiscal year* 3G/4G device average selling price range (2) approx. $223 – $229 approx. $216 – $230 approx. $218 – $228

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

CALENDAR YEAR Device Estimates (2)

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

December quarter not provided approx. 295M – 299M not provided not provided

Est. calendar year range (approx.) 1,080M – 1,120M 1,075M – 1,091M 1,220M – 1,300M 1,220M – 1,300M

Est. calendar year midpoint (approx.) (4) 1,100M 1,083M 1,260M 1,260M

(1) Our current outlook for the third quarter of fiscal 2014 and fiscal 2014 GAAP dilutedEPS excludes a tax benefit of approximately $65 million that we expect to record in the third quarter of fiscal 2014 as a result of an agreement reached with the Internal Revenue Service, which will be excluded from our Non-GAAP results.

(2) 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 sales net of permitted deductions, including transportation, insurance, packing costs and other items, while other licensees report sales 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.

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

(4) 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

Q2 – FISCAL 2014

Revenues $4,243 $2,071 $53 $6,367 $— $— $— $— $6,367

Change from prior year 8% 1% (65%) 4%

4%

Change from prior quarter (8%) 9% (50%) (4%)

(4%)

Operating income (loss)

$2,337 ($6) ($251) ($90) $— $1,990

Change from prior year

5% (20%) 6% (8%)
6%

Change from prior quarter

26% (20%) 11% (30%)
33%

EBT $740 $1,834 $78 $2,652 ($39) ($251) ($90) $— $2,272

Change from prior year 9% 2% N/M 8% N/M 6% (8%)
6%

Change from prior quarter (18%) 10% N/M 26% N/M 11% (30%)
29%

EBT as % of revenues 17% 89% N/M 42%

36%

Net income (loss)

$2,255 ($17) ($198) ($81) $— $1,959

Change from prior year

9% N/M 10% (1%) N/M 5%

Change from prior quarter

4% N/M 12% (23%) N/A 4%

Diluted EPS

$1.31 ($0.01) ($0.11) ($0.05) $— $1.14

Change from prior year

12% N/M 8% —% N/M 8%

Change from prior quarter

4% N/M 15% (25%) N/A 5%

Diluted shares used

1,719 1,719 1,719 1,719 1,719 1,719

Q1 – FISCAL 2014

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

Operating income (loss)

1,848 (5) (281) (69) — 1,493

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

Discontinued operations, net of tax (4)

430 — — — — 430

Net income (loss)

2,163 4 (226) (66) — 1,875

Diluted EPS

$1.26 $0.00 ($0.13) ($0.04) $— $1.09

Diluted shares used

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

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

Q3 – FISCAL 2013

Revenues $4,222 $1,867 $154 $6,243 $— $— $— $— $6,243

Operating income (loss)

2,035 (7) (280) (71) — 1,677

EBT $738 $1,633 ($161) 2,210 51 (280) (71) — 1,910

Net income (loss)

1,823 43 (222) (64) — 1,580

Diluted EPS

$1.03 $0.02 ($0.13) ($0.04) $— $0.90

Diluted shares used

1,765 1,765 1,765 1,765 1,765 1,765

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

6 MONTHS – FISCAL 2014

Revenues $8,859 $3,971 $159 $12,989 $— $— $— $— $12,989

Change from prior year 10% 4% (46%) 7%

7%

Operating income (loss)

$4,185 ($10) ($532) ($160) $— $3,483

Change from prior year

(11%) 17% 3% (4%)
(12%)

EBT $1,646 $3,504 ($394) $4,756 ($35) ($532) ($160) $— $4,029

Change from prior year (6%) 5% N/M (8%) N/M 3% (4%)
(10%)

EBT as % of revenues 19% 88% N/M 37%

31%

Discontinued operations, net of tax (4)

$430 $— $— $— $— $430

Net income (loss)

$4,418 ($13) ($423) ($147) $— $3,835

Change from prior year

3% N/M 4% —% N/M 2%

Diluted EPS

$2.57 ($0.01) ($0.25) ($0.09) $— $2.23

Change from prior year

6% N/M —% (13%) N/M 4%

Diluted shares used

1,721 1,721 1,721 1,721 1,721 1,721

6 MONTHS – FISCAL 2013

Revenues $8,036 $3,813 $294 $12,143 $— $— $— $— $12,143

Operating income (loss)

4,681 (12) (549) (154) — 3,966

EBT $1,749 $3,335 $66 5,150 16 (549) (154) — 4,463

Net income (loss)

4,270 24 (439) (147) 64 3,772

Diluted EPS

$2.43 $0.01 ($0.25) ($0.08) $0.04 $2.15

Diluted shares used

1,757 1,757 1,757 1,757 1,757 1,757

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 second quarter fiscal 2014 earnings conference call will be broadcast live on April 23, 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 +1 (855) 859-2056 and international callers may dial +1 (404) 537-3406. Callers should use reservation number 25607511.

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. Non-cash share-based compensation is excluded because management views such expenses as unrelated to the operating activities of the Company’s ongoing core businesses.
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 increasing demand for our industry-leading chipsets and strong growth in calendar year 2014 of 3G/4G smartphones around the world; stock repurchases that we plan to complete over the remainder of fiscal 2014 under our current stock repurchase program; the tax benefit of approximately $65 million that we expect to record in the third quarter of fiscal 2014 as a result of an agreement we reached with the Internal Revenue Service; 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 second quarter ended March 30, 2014 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.

Supplemental Information

(Unaudited)

Three Months Ended March 30, 2014

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

($ in millions, except per share data)

Cost of equipment and services revenues $ 2,407
$ —
$ 13
$ 62
$ 2,482

R&D 1,170
1
163
22
1,356

SG&A 453
5
75
6
539

Operating income (loss) 2,337
(6)
(251)
(90)
1,990

Investment income, net $ 315 (a) $ (33) (b) $ —
$ —
$ 282

Tax rate 15%
54%
21%
10%
14%

Net income (loss) $ 2,255
$ (17)
$ (198)
$ (81)
$ 1,959

Diluted EPS $ 1.31
$ (0.01)
$ (0.11)
$ (0.05)
$ 1.14

(a) Included $237 million in net realized gains on investments, $167 million in interest and dividend income and $2 million in gains on deconsolidation of subsidiaries, partially offset by $88 million in other-than-temporary losses on investments and $3 million in interest expense.

(b) Included $35 million in other-than-temporary losses on investments and $4 million in equity in losses of investees, partially offset by $6 million in net realized gains on investments.

Six Months Ended March 30, 2014

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

($ in millions, except per share data)

Cost of equipment and services revenues $ 5,040
$ —
$ 25
$ 124
$ 5,189

R&D 2,321
3
336
23
2,683

SG&A 971
7
171
13
1,162

Other expenses 472 (c) —


472

Operating income (loss) 4,185
(10)
(532)
(160)
3,483

Investment income, net $ 571 (d) $ (25) (e) $ —
$ —
$ 546

Tax rate 16%
57%
20%
8%
16%

Net income (loss) $ 4,418
$ (13)
$ (423)
$ (147)
$ 3,835

Diluted EPS $ 2.57
$ (0.01)
$ (0.25)
$ (0.09)
$ 2.23

(c) Included a $444 million loss 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.

(d) Included $364 million in net realized gains on investments, $322 million in interest and dividend income, $5 million in net gains on derivatives and $1 million in gains on deconsolidation of subsidiaries, partially offset by $116 million in other-than-temporary losses on investments and $5 million in interest expense.

(e) Included $43 million in other-than-temporary losses on investments, $5 million in equity in losses of investees and $1 million in net losses on derivatives, partially offset by $24 million in net realized gains on investments.

Sums may not equal totals due to rounding.

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

(Unaudited)

Three Months Ended March 30, 2014

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

Income (loss) from continuing operations
before income taxes
$ 2,652
$ (39)
$ (251)
$ (90)
$ 2,272

Income tax (expense) benefit
(397)
21
53
9
(314)

Income (loss) from continuing operations
$ 2,255
$ (18)
$ (198)
$ (81)
$ 1,958

Tax rate
15%
54%
21%
10%
14%

Six Months Ended March 30, 2014

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

Income (loss) from continuing operations before income taxes
$ 4,756
$ (35)
$ (532)
$ (160)
$ 4,029

Income tax (expense) benefit
(768)
20
109
13
(626)

Income (loss) from continuing operations
$ 3,988
$ (15)
$ (423)
$ (147)
$ 3,403

Tax rate
16%
57%
20%
8%
16%

(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)

March30, 2014
September29, 2013

ASSETS

Current assets:

Cash and cash equivalents $ 6,337
$ 6,142

Marketable securities 10,291
8,824

Accounts receivable, net 2,217
2,142

Inventories 1,147
1,302

Deferred tax assets 495
573

Other current assets 521
572

Total current assets 21,008
19,555

Marketable securities 15,425
14,440

Deferred tax assets 1,161
1,059

Property, plant and equipment, net 2,573
2,995

Goodwill 4,226
3,976

Other intangible assets, net 2,699
2,553

Other assets 783
938

Total assets $ 47,875
$ 45,516

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Trade accounts payable $ 1,551
$ 1,554

Payroll and other benefits related liabilities 739
839

Unearned revenues 625
501

Other current liabilities 2,986
2,319

Total current liabilities 5,901
5,213

Unearned revenues 3,367
3,666

Other liabilities 354
550

Total liabilities 9,622
9,429

Stockholders’ equity:

Qualcomm stockholders’ equity:

Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding —

Common stock and paid-in capital, $0.0001 par value; 6,000 shares authorized; 1,686 and 1,685 shares issued and outstanding, respectively 9,347
9,874

Retained earnings 28,097
25,461

Accumulated other comprehensive income 810
753

Total Qualcomm stockholders’ equity 38,254
36,088

Noncontrolling interests (1)
(1)

Total stockholders’ equity 38,253
36,087

Total liabilities and stockholders’ equity $ 47,875
$ 45,516

Qualcomm Incorporated

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share data)

(Unaudited)

Three Months Ended
Six Months Ended

March30, 2014
March31, 2013
March30, 2014
March31, 2013

Revenues:

Equipment and services $ 4,229
$ 3,990
$ 8,881
$ 8,189

Licensing 2,138
2,134
4,108
3,954

Total revenues 6,367
6,124
12,989
12,143

Costs and expenses:

Cost of equipment and services revenues 2,482
2,372
5,189
4,609

Research and development 1,356
1,214
2,683
2,320

Selling, general and administrative 539
661
1,162
1,248

Other —

472

Total costs and expenses 4,377
4,247
9,506
8,177

Operating income 1,990
1,877
3,483
3,966

Investment income, net 282
259
546
497

Income from continuing operations before income taxes 2,272
2,136
4,029
4,463

Income tax expense (314)
(273)
(626)
(697)

Income from continuing operations 1,958
1,863
3,403
3,766

Discontinued operations, net of income taxes —

430

Net income 1,958
1,863
3,833
3,766

Net loss attributable to noncontrolling interests 1
3
2
6

Net income attributable to Qualcomm $ 1,959
$ 1,866
$ 3,835
$ 3,772

Basic earnings per share attributable to Qualcomm:

Continuing operations $ 1.16
$ 1.08
$ 2.02
$ 2.20

Discontinued operations —

0.25

Net income $ 1.16
$ 1.08
$ 2.27
$ 2.20

Diluted earnings per share attributable to Qualcomm:

Continuing operations $ 1.14
$ 1.06
$ 1.98
$ 2.15

Discontinued operations —

0.25

Net income $ 1.14
$ 1.06
$ 2.23
$ 2.15

Shares used in per share calculations:

Basic 1,688
1,722
1,688
1,716

Diluted 1,719
1,763
1,721
1,757

Dividends per share announced $ 0.35
$ 0.25
$ 0.70
$ 0.50

Qualcomm Incorporated

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months
Ended
Six Months
Ended

March30,
2014
March31,
2013
March30,
2014
March31,
2013

Operating Activities:

Net income $ 1,958
$ 1,863
$ 3,833
$ 3,766

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

Depreciation and amortization expense 289
248
561
489

Gain on sale of discontinued operations —

(665)

Goodwill and long-lived asset impairment charges 19
23
479
28

Income tax provision in excess of (less than)income tax payments 10
(34)
268
161

Non-cash portion of share-based compensation expense 251
267
532
550

Incremental tax benefits from share-based compensation (70)
(42)
(169)
(103)

Net realized gains on marketable securities and other investments (243)
(84)
(388)
(179)

Net impairment losses on marketable securities and other investments 123
12
159
22

Other items, net (23)
(25)
(20)
(33)

Changes in assets and liabilities:

Accounts receivable, net (884)
(239)
(96)
(424)

Inventories (84)
(207)
153
(454)

Other assets 58
(150)
127
(201)

Trade accounts payable 183
1
35
377

Payroll, benefits and other liabilities 240
590
(102)
203

Unearned revenues (13)
(7)
(112)
(11)

Net cash provided by operating activities 1,814
2,216
4,595
4,191

Investing Activities:

Capital expenditures (587)
(289)
(797)
(494)

Purchases of available-for-sale securities (5,772)
(4,160)
(7,827)
(7,449)

Proceeds from sales and maturities of available-for-sale securities 3,516
2,306
5,684
4,532

Purchases of trading securities (1,029)
(826)
(1,814)
(1,796)

Proceeds from sales and maturities of trading securities 1,020
574
1,793
1,598

Proceeds from sale of discontinued operations, net of cash sold —

788

Acquisitions and other investments, net of cash acquired (32)
(93)
(347)
(132)

Other items, net (19)
44
62
70

Net cash used by investing activities (2,903)
(2,444)
(2,458)
(3,671)

Financing Activities:

Proceeds from issuance of common stock 512
407
953
747

Incremental tax benefits from share-based compensation 70
42
169
103

Repurchases and retirements of common stock (1,002)

(2,004)
(250)

Dividends paid (589)
(431)
(1,179)
(859)

Change in obligations under securities lending 142
(3)
123

Other items, net (1)
(1)
(3)
(2)

Net cash (used) provided by financing activities (868)
14
(1,941)
(261)

Changes in cash and cash equivalents held for sale 4
18

31

Effect of exchange rate changes on cash and cash equivalents (2)
(4)
(1)
(4)

Net (decrease) increase in cash and cash equivalents (1,955)
(200)
195
286

Cash and cash equivalents at beginning of period 8,292
4,293
6,142
3,807

Cash and cash equivalents at end of period $ 6,337
$ 4,093
$ 6,337
$ 4,093

Source: Qualcomm Incorporated

Written by asiafreshnews

April 25, 2014 at 2:33 pm

Posted in Uncategorized

Waterloo Global Science Initiative invests in young people as a force for change in education

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PHOENIX, April 24, 2014 /PRNewswire/ — Waterloo Global Science Initiative (WGSI) is pleased to launch its Equinox Fellowship, a program that funds projects initiated by young people between the ages of 18 and 30 inspired by the priorities outlined in the Equinox Blueprint: Learning 2030 which launched globally last week in Oxford, UK at the World Literacy Summit. Equinox Blueprint: Learning 2030’s student-centered vision for the future of education was developed at last fall’s Equinox Summit: Learning 2030. Half of its collaborators were high school students, student leaders, entrepreneurs, and activists between 18 and 30.

In partnership with leading youth social entrepreneurship network, TakingITGlobal, a cohort of 30 young innovators participated in the Sprout e-course to develop a project and be eligible for a Project Launch Grant and mentorship opportunities provided by TakingITGlobal and MaRS Discovery District.

WGSI is pleased to announce the recipients of the Equinox Fellowship:

Iyinoluwa Aboeyeji (Lagos, Nigeria) – Teaching for Learning

Aboeyeji is the Co-Founder and CEO of Fora, a start-up that connects young Africans to e-learning resources, and a recent graduate of the University of Waterloo. His new project, Teaching for Learning is program that will use e-learning resources from Coursera and the Commonwealth Education Trust in Foundation of Teaching and Learning to expose primary and secondary school teachers in Lagos, Nigeria to new ideas about pedagogy and tools that will allow them to become better teachers

Eric Kennedy (Phoenix, AZ, USA) – International Interdisciplinary Student Network

Kennedy, a PhD. Student in the Consortium for Science Policy and Outcomes at Arizona State University and graduate of the University of Waterloo’s Centre for Knowledge Integration, is developing The International Interdisciplinary Network (IIN) to link, empower, and support interdisciplinary student associations and their young leaders around the world.

Bryson McLachlan (Waterloo, ON, Canada ) – Design Thinking Module

McLachlan, a student in the Centre for Knowledge Integration at the University of Waterloo, is developing a learning module for middle and high school students that introduces them to design thinking and collaborative work. The long term goal is to equip young people with a resilient and flexible skill set that can be adapted to difficult problems that stretch across multiple disciplines and outside school walls.

Olatunde Ajoke Omoware (Agbado, Nigeria) – Agbado e-Learning Centre

Omoware is the Human Resources and Project Coordinator for the non-profit AGDC Employability and Enterprise. Her project targets children from the poorest homes in Agbado, Nigeria who are almost a year behind their classmates by the time they start school. In an area serviced by only one government secondary school, Agbado e-Learning Centre will provide children with access to the basics of ICT and Internet usage as well as books and literacy resources.

About the Waterloo Global Science Initiative

Founded in 2009, Waterloo Global Science Initiative (WGSI) is a non-profit partnership between Perimeter Institute for Theoretical Physics and the University of Waterloo, a pairing that has previously resulted in the distinguished Perimeter Scholars International program and the University of Waterloo’s pioneering Institute for Quantum Computing. WGSI’s mandate is to promote dialogue around complex global issues and to catalyze the long-range thinking necessary to advance ideas, opportunities and strategies for a secure and sustainable future. The organization’s core activities include the Equinox Summit Series, Equinox Blueprints, Equinox Fellowship for young leaders, and a range of impact activities programmed around each summit topic and its outcomes. For more information visit wgsi.org.

Image with caption: “Young education innovators working to develop Equinox Blueprint: Learning 2030. (CNW Group/Waterloo Global Science Initiative (WGSI))”. Image available at: http://photos.newswire.ca/images/download/20140423_C4885_PHOTO_EN_39575.jpg

Image with caption: “Young education innovators working to develop Equinox Blueprint: Learning 2030. (CNW Group/Waterloo Global Science Initiative (WGSI))”. Image available at: http://photos.newswire.ca/images/download/20140423_C4885_PHOTO_EN_39574.jpg

For further information:

Hayley Rutherford
Content & Programming Coordinator
Waterloo Global Science Initiative (WGSI)
hrutherford@wgsi.org
+1 519 569 7600 ext 7613
Source: Waterloo Global Science Initiative (WGSI)

Written by asiafreshnews

April 25, 2014 at 2:04 pm

Posted in Uncategorized

Frost & Sullivan Acknowledges the Superior Innovation in ViOptix’s T.Ox, a Portable Device for Tissue-Oxygen Saturation Diagnosis

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— The product’s non-invasiveness reduces infection risks, while its portability enables its usage across a range of applications within healthcare provider organizations

MOUNTAIN VIEW, Calif., April 24, 2014 /PRNewswire/ — Based on its recent analysis of the oximetry technology market, Frost & Sullivan recognizes ViOptix, Inc. with the 2013 North American Frost & Sullivan Award for New Product Innovation for the development of the T.Ox Tissue Oximeter. It is a patent-protected, non-invasive, portable device for tissue-oxygen saturation diagnosis and monitoring. The device has broad appeal across various healthcare applications, including plastic/reconstructive surgery, intra- and post-operative tissue oxygen saturation monitoring, melanoma detection, and other critical care procedures.

The T.Ox Tissue Oximeter consists of a touchscreen display console that makes it user-friendly in various healthcare settings, including medical testing facilities and surgical areas. It aids the early detection of several tissue-related medical conditions, enabling healthcare providers to determine appropriate treatment options.

The T.Ox Tissue Oximeter leverages near-infrared (NIR) technology to assess tissue health by measuring photon scattering and absorption ratios. This way, it delivers continuous, real-time, tissue-oxygen saturation data to physicians and surgeons, helping them with both diagnosis and treatment. The use of NIR technology also eliminates the need for risky, invasive medical testing procedures that can be costly and increase patient exposure to infectious diseases.

“From an economic perspective, the use of a single device for diagnosing multiple tissue-related illnesses and improving surgical procedure effectiveness essentially delivers a strong economic value proposition,” said Frost & Sullivan Research Analyst Imran Khan. “In addition, ViOptix offers its product on a leased basis to hospitals and other microsurgical centers, which reduces the strain on these organizations’ capital expenditures.”

From a healthcare providers’ perspective, the T.Ox Tissue Oximeter solution aids effective diagnosis and treatment of various vascular conditions. It can benefit a wide variety of medical procedures, including breast reconstructive surgeries after a mastectomy, plastic surgery, detection and assessment of peripheral vascular disease, melanoma detection and treatment, and amputation.

“Unlike other tissue oximetry products that are still in trial stages, ViOptix received Food and Drug Administration approval for its first-generation Tissue Oximeter product T.Ox in 2005,” noted Khan. “Therefore, the company has first-mover advantage as a leading provider of a tissue oximetry solution that fits the diagnostic and treatment needs of a wide spectrum of healthcare providers.”

Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, increases customer acquisition and overall market penetration potential.

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 in order to identify best practices in the industry.

About ViOptix

ViOptix Inc. develops, manufactures and markets innovative proprietary products for improving surgical outcomes through the non-invasive measurement of localized oxygen saturation levels in tissue. Its first product, the T.Ox Tissue Oximeter, received U.S. Food and Drug Administration clearance in January 2005. For more information on the Company or its products, visit the Company’s website at http://www.vioptix.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

Join Us: Join our community

Subscribe: Newsletter on “the next big thing”

Register: Gain access to visionary innovation

Contact:

Mireya Espinoza
P: +1-210-247-3870
F: +1-210-348-1003
E: mireya.espinoza@frost.com

Mark Lonsinger
E: lonsingerm@vioptix.com
Source: Frost & Sullivan

Written by asiafreshnews

April 25, 2014 at 1:51 pm

Posted in Uncategorized

Merck Announces Positive Outcome of IIIb Study for Kuvan

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DARMSTADT, Germany, April 24, 2014 /PRNewswire/ —

Primary endpoint met in SPARK study: significant increase in phenylalanine tolerance demonstrated after 26 weeks of the study in children less than 4 years of age with phenylketonuria and responsive to Kuvan treated with Kuvan plus a phenylalanine-restricted diet, versus diet alone
SPARK study was conducted as a post-authorization measure and results will be submitted to EMA this year
Merck, a leading company for innovative and top-quality high-tech products in the pharmaceutical and chemical sectors, announced today that the Phase IIIb SPARK* study has met its primary endpoint. The results of the first 26 weeks of this study demonstrated that the addition of Kuvan® (sapropterin dihydrochloride) to a phenylalanine-restricted diet in children less than 4 years of age who have phenylketonuria (PKU) and have been previously shown to be responsive to Kuvan significantly increased tolerance to phenylalanine compared with a phenylalanine-restricted diet alone. The safety profile of Kuvan in this population was consistent with the safety profile for Kuvan described in the European Summary of Product Characteristics. The 26-week results will be submitted for presentation at upcoming international scientific meetings and for publication in a peer-reviewed journal. SPARK was requested by the European Medicines Agency (EMA) as a post-authorization measure and demonstrates Merck’s commitment to addressing areas of high unmet medical need. The positive outcome of the study will enable the submission of a regulatory application for a label extension later this year.

Dr John Orloff, Global Head of Clinical Development at Merck’s biopharmaceutical division Merck Serono, underlined the company’s commitment to better management of PKU for all those affected by it: “PKU is a serious rare disease that has a significant impact on patients and their families. We are delighted by the positive outcome of this study, and remain dedicated to further improving our understanding of PKU in infants and young children.”

PKU is an inborn metabolic disorder that causes the toxic accumulation of phenylalanine, an essential amino acid found in all protein-containing foods, in the brain and blood.[1],[2] Untreated, PKU can lead to intellectual disability, seizures and other serious medical problems.[1],[2] In many countries, implementation of national newborn screening programs has allowed identification of children with PKU at birth, enabling the management of the disease to begin as early as possible in order to avoid potentially severe neurological damage.[3]

“This is the first time a controlled study such as this has been conducted in children below 4 years of age with PKU” said Professor Ania Muntau, Klinikum University Munich, Germany, and lead investigator for SPARK. “These study findings with Kuvan in addition to phenylalanine-restricted diet could lead to a new disease management approach to control blood phenylalanine levels right from birth.”

SPARK is a Phase IIIb, multicenter, open-label, randomized, controlled study designed to assess the efficacy, safety, and population pharmacokinetics of Kuvan in patients younger than 4 years old with PKU and who have been previously shown to be responsive to Kuvan in a response test. The study was conducted under a Pediatric Investigational Plan. Patients were randomized to Kuvan (10 mg/kg/day) plus a phenylalanine-restricted diet, or to a phenylalanine-restricted diet alone, for 26 weeks, and the primary endpoint of the study was to compare phenylalanine tolerance achieved in both arms after 26 weeks of treatment. Secondary study endpoints included change in levels of blood phenylalanine during the study period, change in dietary phenylalanine tolerance over time (from baseline to 26 weeks) in both groups, as well as assessment of neurodevelopmental function, growth parameters and safety. The long-term efficacy and safety of Kuvan will be assessed in the study’s 3-year extension period, in which all patients will be offered to receive Kuvan in addition to the phenylalanine-restricted diet.

European marketing authorization was granted for Kuvan in 2008. Kuvan was the first, and remains the only, medication in combination with dietary modifications in Europe designed to reduce the concentration of phenylalanine in the blood and in the brain in those patients who are responsive to Kuvan to prevent the debilitating effects of PKU.[4] Kuvan is indicated in patients of all ages with tetrahydrobiopterin (BH4) deficiency, and in those aged 4 years and above with PKU (due phenylalanine hydroxylase enzyme deficiency) who are responsive to Kuvan. Currently, there is no licensed medication in Europe for the treatment of PKU in the 0-4 years age group. Kuvan is marketed by Merck Serono outside the USA, Canada and Japan, by BioMarin in the USA and Canada, and under the name Biopten® by Asubio Pharma in Japan. In the USA and Europe, Kuvan received orphan drug designation.

*SPARK: Safety Pediatric EfficAcy PhaRmacokinetic with Kuvan (sapropterin dihydrochloride)

References:

Blau N: Phenylketonuria and BH4 deficiencies. Bremen: Uni-Med; 2010
Blau N, van Spronsen FJ, Levy HL: Phenylketonuria. Lancet 2010,376:1417-1427
Loeber JG. Neonatal screening in Europe: the situation in 2004. J Inherit Metab Dis 2007;30:30-38
http://www.ema.europa.eu/ema/index.jsp?curl=pages/medicines/human/medicines/000943/human_med_000880.jsp&mid=WC0b01ac058001d124, Accessed 31.03.2014
About phenylketonuria (PKU)
PKU is an autosomal recessive genetic disorder caused by a defect or a deficiency of the enzyme phenylalanine hydroxylase (PAH). PAH is required for the metabolism of phenylalanine (Phe), an essential amino acid found in all protein-containing foods. It affects approximately 1/10,000 newborns in Europe and 1/15,000 in the US. If PKU patients are not treated with a Phe-restricted diet, Phe will accumulate in the blood and brain to abnormally high levels, thereby resulting in a variety of complications including clinically significant mental retardation and brain damage, mental illness, seizures and tremors, and cognitive problems. Universal systematic newborn screening programs were developed in the 1960s and early 1970s to enable diagnosis of all patients with PKU patients at birth.
About tetrahydrobiopterin (BH4) deficiency
BH4 deficiency is a very rare inborn error of metabolism, and is estimated to account for 1-2% of cases of hyperphenylalaninemia (HPA). BH4 deficiency is an autosomal recessive genetic condition and can result from deficiencies of any of the five different enzymes involved in BH4 synthesis and regeneration. BH4 is a necessary co-factor for PAH. Therefore, BH4 deficiency impairs PAH activity leading to a biochemical situation similar to PKU, with HPA resulting from deficient conversion of Phe to tyrosine. In addition, since BH4 is also a necessary co-factor for both tyrosine hydroxylase and tryptophan hydroxylase, BH4 deficiency causes deficiencies in the downstream neurotransmitter products of these amino acids including catecholamines and serotonin. Dietary limitation of whole protein or Phe intake is often not necessary with BH4 treatment. However, since BH4 does not cross the blood brain barrier, concomitant therapy with neurotransmitter precursors, i.e. levodopa and 5-hydroxytryptophan, may be necessary to boost central nervous system substrate levels for catecholamine and serotonin synthesis, respectively.
About Kuvan
Kuvan® (sapropterin dihydrochloride) is an oral therapy and the first treatment indicated in Europe in conjuction with a Phe-restricted diet, for the treatment of hyperphenylalaninemia (HPA) due to phenylketonuria (PKU) in patients from the age of 4 who have shown to be responsive to Kuvan, or due to tetrahydrobiopterin (BH4) deficiency. Kuvan was developed jointly by BioMarin Pharmaceutical Inc. and Merck Serono. In the US, Kuvan is marketed by BioMarin and is indicated for the treatment of HPA due to PKU without age restriction. The current label states that safety and efficacy of Kuvan in pediatric patients less than 4 years of age have not been established in clinical studies. Kuvan is to be used in conjunction with a Phe-restricted diet.
Kuvan is the synthetic form of 6R-BH4, a naturally occurring co-factor that works in conjunction with the enzyme phenylalanine hydroxylase (PAH) to metabolize phenylalanine (Phe) into tyrosine. Clinical data show that Kuvan produces significant reductions in blood Phe concentration in a large subset of patients.
Most common side effects reported with the use of Kuvan include headache, runny nose, diarrhea, vomiting, sore throat, cough, abdominal pain, stuffy nose and low levels of phenylalanine in the blood.
Kuvan is approved in 49 countries worldwide, including member states of the European Union and the USA. Under the terms of the agreement with BioMarin, Merck Serono has exclusive rights to market Kuvan in all territories outside the USA, Canada and Japan.
All Merck Press Releases are distributed by e-mail at the same time they become available on the Merck Website. Please go to http://www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.
Merck is a leading company for innovative and top-quality high-tech products in the pharmaceutical and chemical sectors. With its four divisions Merck Serono, Consumer Health, Performance Materials and Merck Millipore, Merck generated total revenues of € 11.1 billion in 2013. Around 38,000 Merck employees work in 66 countries to improve the quality of life for patients, to further the success of customers and to help meet global challenges. Merck is the world’s oldest pharmaceutical and chemical company – since 1668, the company has stood for innovation, business success and responsible entrepreneurship. Holding an approximately 70 percent interest, the founding family remains the majority owner of the company to this day. Merck, Darmstadt, Germany is holding the global rights to the Merck name and brand. The only exceptions are Canada and the United States, where the company is known as EMD.
Source: Merck KGaA

Written by asiafreshnews

April 25, 2014 at 10:52 am

MediaMath Acquires Tactads to Enable Cookieless, Cross-Device Targeting and Measurement

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– Tactads acquisition is part of MediaMath’s larger strategy to enable marketers to engage with consumers across all devices

NEW YORK, April 24, 2014 /PRNewswire/ — MediaMath, the creator of the TerminalOne Marketing Operating System™ for digital marketers, today announced its acquisition of Tactads, provider of cookieless and cross-device targeting technologies. Integrated into TerminalOne, these technologies will provide advertisers the ability to communicate with consumers and unify marketing efforts across smartphone, tablet, laptop, desktop, and other devices.

“The usage of multiple web-enabled devices has reached a critical mass and so has the challenge of targeting hyper-connected users across screens,” said Joe Zawadzki, chief executive officer, MediaMath. “Our acquisition of Tactads is just one of the many means we are employing to help our clients overcome this challenge, improve marketing effectiveness, and drive ROI.”

Tactads, a France-based company, has developed proprietary software that uses sophisticated algorithms to identify and associate devices using statistical techniques. This technology does not rely on cookies, does not employ personally identifiable information about consumers, and adheres to industry privacy standards.

“The ad tech industry has gone through a huge transformation which has compelled a change in the way advertisers engage with consumers,” said Romain Gauthier, chief executive officer, Tactads. “We have been focused on developing privacy-compliant solutions to meet the challenges of targeting and to improve marketing performance — a goal that MediaMath shares. This acquisition will help introduce our solution to a broad, global audience and we’re excited to be part of the MediaMath family.”

Tactads’ solution is one component of MediaMath’s proprietary ConnectedID technology, being developed to enable advertisers to engage with their customers across channels and devices with unprecedented scale. “In addition to integrating Tactads’ powerful cookieless and cross-device technologies, our ConnectedID offering will bridge targeting signals from media companies, publishers, and advertisers, while maintaining strict privacy compliance and allow for a more robust consumer opt-out than cookie-based solutions in the market today,” said Ari Buchalter, chief operating officer, MediaMath. “ConnectedID will power cross-channel marketing and measurement as never before.”

ConnectedID is expected to be available in beta in Q3 2014 as part of MediaMath’s TerminalOne Marketing Operating System™.

Written by asiafreshnews

April 25, 2014 at 10:36 am

Posted in Uncategorized

MediaMath Acquires Tactads to Enable Cookieless, Cross-Device Targeting and Measurement

leave a comment »

– Tactads acquisition is part of MediaMath’s larger strategy to enable marketers to engage with consumers across all devices

NEW YORK, April 24, 2014 /PRNewswire/ — MediaMath, the creator of the TerminalOne Marketing Operating System™ for digital marketers, today announced its acquisition of Tactads, provider of cookieless and cross-device targeting technologies. Integrated into TerminalOne, these technologies will provide advertisers the ability to communicate with consumers and unify marketing efforts across smartphone, tablet, laptop, desktop, and other devices.

“The usage of multiple web-enabled devices has reached a critical mass and so has the challenge of targeting hyper-connected users across screens,” said Joe Zawadzki, chief executive officer, MediaMath. “Our acquisition of Tactads is just one of the many means we are employing to help our clients overcome this challenge, improve marketing effectiveness, and drive ROI.”

Tactads, a France-based company, has developed proprietary software that uses sophisticated algorithms to identify and associate devices using statistical techniques. This technology does not rely on cookies, does not employ personally identifiable information about consumers, and adheres to industry privacy standards.

“The ad tech industry has gone through a huge transformation which has compelled a change in the way advertisers engage with consumers,” said Romain Gauthier, chief executive officer, Tactads. “We have been focused on developing privacy-compliant solutions to meet the challenges of targeting and to improve marketing performance — a goal that MediaMath shares. This acquisition will help introduce our solution to a broad, global audience and we’re excited to be part of the MediaMath family.”

Tactads’ solution is one component of MediaMath’s proprietary ConnectedID technology, being developed to enable advertisers to engage with their customers across channels and devices with unprecedented scale. “In addition to integrating Tactads’ powerful cookieless and cross-device technologies, our ConnectedID offering will bridge targeting signals from media companies, publishers, and advertisers, while maintaining strict privacy compliance and allow for a more robust consumer opt-out than cookie-based solutions in the market today,” said Ari Buchalter, chief operating officer, MediaMath. “ConnectedID will power cross-channel marketing and measurement as never before.”

ConnectedID is expected to be available in beta in Q3 2014 as part of MediaMath’s TerminalOne Marketing Operating System™.

Written by asiafreshnews

April 25, 2014 at 10:34 am

Posted in Uncategorized

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