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Archive for July 24th, 2015

Fortex Expands Operations to Shanghai

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— Grand Opening Hosts Chinese FX Industry Leaders at Ritz Carlton Shanghai

SHANGHAI/PRNewswire/ — Fortex Inc., one of the leading electronic communication network (ECN) trading platforms, officially opened its Shanghai office July 22, further demonstrating the firm’s commitment to China’s institutional FX market. The Shanghai office is focused on helping clients and investors capitalize on the opportunities in the high-growth FX investment sector.

Fortex Expands Operations to Shanghai: Grand Opening Hosts Chinese FX Industry Leaders at Ritz Carlton Shanghai
Fortex Expands Operations to Shanghai: Grand Opening Hosts Chinese FX Industry Leaders at Ritz Carlton Shanghai

“It gives me great pleasure to represent Advanced Markets in extending our warmest congratulations to Fortex on its Shanghai office opening,” said Alexander Braid, Chief Operating Officer of Advanced Markets. “As a long-time client and business partner of Fortex, we have always enjoyed close cooperation and robust, reliable, and transparent service delivered by the firm’s technology. I am convinced that Fortex’s market-leading technology will greatly contribute to the ongoing progress of brokerage services in Asia.”

Grand opening ceremonies were held at the Portman Ritz Carlton Hotel in the heart of Shanghai’s downtown. More than 80 local and foreign FX industry executives attended to celebrate this significant milestone with Fortex. Attendees also discussed the role of technology in advancing Asian FX firms, high-demand products for FX brokers, and the latest industry trends. Guests of honor included Alexander Braid, Chief Operating Officer at Advanced Markets; Simon Blyth, Senior Vice President at Sun Hung Kai Forex Limited, FX and commodities department;Xiaolong Chen, Founder of BestCNY; Yuyang Wang, President at GKFX China; Yubin Sheng, Chief Executive Officer at Currenstone; and Junjie Chen, Founder of Doo Holding Group Limited.

“I believe that Fortex technology will bring completely new execution standards to Chinese traders and elevate the whole industry to the next level,” said Blyth. “Sun Hung Kai Financial is delighted to share its great experience of working with Fortex and its staff with the Asian market. Having a strong on-the-ground presence in Shanghai will strongly position Fortex to efficiently serve its client base in the region.”

Opening ceremonies included sessions on industry trends. Jake Zhi, Institutional Products Consultant at Fortex, shared his view of how to create a safe, transparent trading environment with top global banks using Fortex technology. A panel also discussed “How to Balance Risk Management and Clients’ Experience in Post-SNB Era.” In the Post-SNB Era, trading platform stability and risk management systems have become critically important. Guest panelists had a comprehensive and detailed discussion on the significance of risk management and innovative FX tools available in the market. Panelists also acknowledged the stronger demand for pre- and post-trade transparency from their executing venues.

The Fortex ECN platform is designed for high-frequency, low-latency performance and optimized for buy-side and sell-side institutions. It offers direct access to Tier 1 liquidity from all major money center banks. The Fortex XCloud server grid offers dedicated dark fiber connections, eliminating the need to use the public Internet and delivering sub-1ms speed and 480-Gbps throughput. The powerful Fortex XBook matching engine represents each trader’s order in the interbank market to match with the best liquidity available, including hidden liquidity pools. Broker dealers and traders using MT4 can access the Fortex platform through Fortex MT4 Bridge middleware to gain unified global execution venues and aggregated segmented liquidity pools. More information about Fortex can be found athttp://www.fortex.com.

About Fortex

Fortex is the world’s leading ECN platform, with $12 billion in currency, metals, energy, and CFD trades and 500,000 tickets a day for tens of thousands of traders around the world. The company’s powerful Fortex platform, Fortex 6 application for traders, sophisticated cloud infrastructure, and middleware solutions have revolutionized currency, commodity, and equity trading. Today, traders, broker dealers, market makers, money managers, banks, hedge funds, and investors around the world rely on Fortex to accelerate trade execution and support sophisticated trading strategies. And the most successful currency trading firms have built their FX businesses on the Fortex platform. Fortex is headquartered in Redwood Shores, California with offices in New York, Boston, Hong Kong,Shanghai, and London. The company is privately held.

For additional information, contact:
Fortex
Shanghai Representative Office
Marketing@fortex.com
+86 21 60321501

Photo – http://photos.prnasia.com/prnh/20150723/8521504827

Source: Fortex Inc.
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Written by asiafreshnews

July 24, 2015 at 5:52 pm

Posted in Uncategorized

Cognitive Computing Continues Rapid Rise In Asia with New Implementation In Top-5 Bank

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— A Tier-1 Asian bank is the latest to adopt a Cognitive Computing platform to drive revenue growth.

NEW YORK and PARIS /PRNewswire/ — CustomerMatrix announced today that its revenue-generating Cognitive Computing Platform is being implemented for a Tier-1 global bank (one of the five largest in Asia), expanding its growing customer list among the top 10 global banks and financial services companies. The latest addition to CustomerMatrix’s customer base is taking advantage of CustomerMatrix’s Revenue Acceleration Model to derive new revenue from existing customers within 12 weeks.

By employing the CustomerMatrix Revenue Acceleration Model, the bank fast-tracks the advantage that Cognitive Computing can create across multiple business units, allowing it to drive new revenue from both existing Corporate and Private Banking customers. With the pre-provisioned platform requiring less than 12 weeks to implementation, the bank is able to quickly benefit from customer knowledge in both internal and external data sources to present its client-facing teams with highly targeted Revenue ActionAlerts™.

“We’re excited to be helping such a distinguished market leader enhance their customer knowledge to find new revenue in their existing customer base,” said Guy Mounier, CEO and co-founder of CustomerMatrix. “With our Cognitive Computing platform, businesses create true customer knowledge by enriching the customer data they already own with external data, and then applying machine learning to dramatically improve business outcomes. That consistently delivers superior service experience and new revenue from their customer base.”

Performance Measurability

The new platform gives the bank a highly measurable sales process across multiple business units. Client-facing staff are provided with real-time Revenue ActionAlerts™, valued and prioritized when delivered. These Revenue ActionAlerts™ show bankers, advisors and others what actions they can take to create new customer revenue. Revenue ActionAlerts™ are integrated into existing workflows and are automatically tracked by the platform to provide performance measurability and management visibility.

Cognitive Computing Advantage

One clear advantage of CustomerMatrix’s technology is that it uses a lightweight meta-data hub that dynamically enriches data, generating its own rules based upon what it learns from that enriched data, and adjusting its recommendations based on user success and automatic feedback techniques.

About CustomerMatrix

CustomerMatrix offers a market-leading Cognitive Computing platform that connects the dots between you, your organization and customers without adding costly new data infrastructure. The CustomerMatrix Cognitive Computing platform helps companies capture hidden revenue opportunities in real-time, by recommending specific actions for customer-facing employees and placing recommendations in their existing workflows, ranked by impact value.

CustomerMatrix is headquartered in New York City with its R&D center in Paris, France and operations in Asiacentered in Hong Kong. It has a growing list of Global 2000 customers including global banks such as BNP Paribas, insurers such as Allianz, and some of the world’s most distinguished business brands such as Schneider Electric. CustomerMatrix is a founding member of the Cognitive Computing Consortium with IBM-Watson.

For more information, please visit: www.customermatrix.com

Logo – http://photos.prnewswire.com/prnh/20141107/157377LOGO

Source: CustomerMatrix

Written by asiafreshnews

July 24, 2015 at 5:32 pm

Posted in Uncategorized

InterGlobe Technologies Inaugurates 3rd Global Delivery Center in Manila

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GURGAON, India /PRNewswire/ —

InterGlobe Technologies (IGT), the leading provider of integrated IT-BPM solutions to the travel and hospitality industry, announced the opening of its 3rd global delivery center in Manila, as it further expands its global operations. This is IGT’s 11th global delivery center, with a headcount of 100 people and plans to increase to 300 local hires over the next 12-15 months. It will serve global and domestic clients from its expansive travel IT-BPM portfolio.

IGT has been operating in Philippines for over five years now and the expansion is a part of IGT’s strategy to diversify its footprint globally. The decision to set up its 3rd center in the Manila is based on the excellent infrastructure, big talent pool, supportive government policies and connectivity with the rest of the world.

Manila is a strategic global location for us, and we are delighted to set up our 3rd delivery center here. Manila offers first-class infrastructure and a vast talent pool, which aligns with our business process infrastructure, solutions and global delivery model, allowing us to service clients more efficiently,” said Vipul Doshi, Chief Executive Officer‚ IGT.

He adds, “I would like to welcome the employees of our newest center into the organization as we further strengthen internationally benchmarked processes that allows for growth and innovation.”

The center will support BPM services such as customer service, reservations and booking services, back office processing and multi-language support among others for IGT’s travel and hospitality clients. Enabling services across multiple global service centers will drive significant efficiencies of scale and focus on deliveries that can be made remotely across the entire value chain of travel. This includes calculation of complex fares to migration and management of mainframe solutions, managing dynamic multi-contact channels to building ecommerce and mcommerce platforms.

Bringing travel expertise closer to customers will enable IGT to provide quicker services and stronger support for operations in a competitive and dynamic travel landscape. With over 15-years of travel expertise, IGT currently engages in projects for some of the largest travel brands in the world.

(View IGT’s global scale of operations)

About InterGlobe Technologies

InterGlobe Technologies (IGT) is a global travel domain expert, providing travel technology and BPM services, that helps maximize business performance of its customers. IGT is committed to delivering innovation and business excellence across the entire spectrum of the travel‚ and hospitality domains. The company offers integrated application development and maintenance‚ contact center, back office services and solution frameworks to the travel industry worldwide.

IGT is part of InterGlobe Enterprises Limited with interests in aviation, technology & hospitality. With its footprint, spanning across the globe from 11 state-of-the-art delivery centers‚ IGT employs over 7000 travel experts worldwide.

For more information: http://www.igt.in

Media Contact:
Renee Kishore
renee.kishore@igt.in

Source: InterGlobe Technologies (IGT)

Source: InterGlobe Technologies (IGT)
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Written by asiafreshnews

July 24, 2015 at 2:10 pm

Posted in Uncategorized

Qualcomm Announces Strategic Realignment Plan

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–Taking Aggressive Actions to Improve Performance-
–Plan Designed to Right-Size Cost Structure and Increase QCT Margins-
–Will Examine Financial and Structural Alternatives to Create Stockholder Value and Position the Company for Future Growth-
— Plan Endorsed by JANA Partners, a Significant Qualcomm Stockholder-

SAN DIEGO /PRNewswire/ — Qualcomm Incorporated (NASDAQ: QCOM) today announced it has initiated a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth as the Company works to create sustainable long-term value for stockholders. The Company also announced that it has entered into an agreement with JANA Partners pursuant to which Mark McLaughlinand Tony Vinciquerra have been added to the Board of Directors and a third director to be selected by the Company and consented to by JANA will be added promptly.

The core elements of the new plan include:

  • Aggressively right-sizing the cost structure by eliminating approximately $1.4 billion in spending, including an approximately $300 million reduction in annual share-based compensation grants; Company expects to achieve this run-rate by the end of fiscal year 2016
  • Reviewing alternatives to the Company’s corporate and financial structure
  • Reaffirming the Company’s plan to return significant capital to stockholders
  • Adding new Directors with complementary skills while reducing the average tenure of the Board of Directors
  • Further aligning executive compensation with performance, including returns on investment
  • Disciplined investment in areas that further Qualcomm’s leadership positions, build upon the Company’s core technologies and capabilities and offer attractive growth opportunities and returns

“We are making fundamental changes to position Qualcomm for improved execution, financial and operating performance,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We are right-sizing our cost structure and focusing our investments around the highest return opportunities while reaffirming our intent to return significant capital to stockholders and refreshing our Board of Directors. Importantly, our Strategic Realignment Plan is designed to drive meaningful change in the near term – without jeopardizing our ability to retain and build upon our technology leadership position and create long-term value for our stockholders.”

Barry Rosenstein, managing partner of JANA Partners, commented, “We support the bold steps the Board and management are pursuing to enhance stockholder value and are pleased to have worked constructively with them in this endeavor.”

The details of the Qualcomm Strategic Realignment Plan are as follows:

  1. Aggressively right-sizing the cost structure to deliver profitable growth. Qualcomm is implementing a comprehensive cost reduction action to reduce annual costs from its fiscal 2015 levels of $7.3 billion(adjusted for variable compensation) by approximately $1.1 billion through a series of targeted reductions that will not jeopardize the Company’s growth objectives or core technology roadmap. These cost initiatives include reductions in headcount and temporary workforce, streamlining the engineering organization, reducing the number of offices and increasing the mix of resources in lower-cost regions. The Company is also reducing annual share-based compensation grants by approximately $300 million. While these specific cost initiatives are expected to be fully implemented by the end of fiscal year 2016, the Company will continue to examine its cost structure for additional efficiencies that enhance profitability without sacrificing its future growth potential.
  2. Initiating new review of financial and structural alternatives available to create stockholder value. In light of recent industry developments and other elements of the Strategic Realignment Plan, Qualcomm’s Board and management, with the assistance of outside financial advisors, are conducting a review of the Company’s corporate structure (including possible business separation alternatives), capital return opportunities and other potential strategic and financial alternatives available to the Company to create stockholder value. The Company does not expect to publicly comment on this review prior to its completion, which is expected to occur by the end of the calendar year.
  3. Reaffirming intent to return significant capital to stockholders.  A strong balance sheet and regulatory resolution in China have provided Qualcomm the flexibility to significantly increase its capital returns to stockholders and execute the largest capital returns program in Company history. Qualcomm is committed to continuing to return a minimum of 75% of free cash flow to stockholders through dividends and repurchases going forward, in addition to the previously announced $10 billion stock repurchase program to be completed by March 2016. Changes to the capital return program will be considered as part of the Board and management’s review of financial and structural alternatives.
  4. Adding new Directors with complementary skill sets while reducing the average tenure of the Board of DirectorsMark McLaughlin and Tony Vinciquerra have been added to the Board and the Company plans to appoint one additional independent director. These directors bring skills and perspectives that will be helpful to the Company as it implements its Strategic Realignment Plan. The Company is also reducing the average tenure of the Board of Directors. General Brent Scowcroft and Duane Nelles have retired from the Board. SirDonald Cruickshank had previously informed the Company that he will not stand for re-election to the Board in 2016. Raymond Dittamore has advised the Company that, assuming he is re-elected to the Board at the Company’s 2016 Annual Meeting of Stockholders, he does not intend to stand for re-election in 2017.
  5. Further aligning executive compensation with performance and stockholder return objectives. The Board plans to change Qualcomm’s executive compensation program by adding an additional returns-based metric for performance-based equity awards and taking share-based compensation provided to the Company’s executives and other employees into account when calculating earnings per share for use in determining executives’ annual cash bonuses.
  6. Disciplined investment to further leadership positions and drive growth while delivering attractive returns. The Company intends to focus its investments in technologies that scale across core smartphone and adjacent growth opportunities, such as in its leading modem and other differentiated technologies. Qualcomm is reducing its investments outside of QTL and QCT and will focus these investments around the highest-return opportunities, including data centers, small cells and certain IoE verticals.

“Qualcomm has been and will continue to be the industry leader in mobile technologies,” said Mr. Mollenkopf. “We have tremendous advantages and IP leadership, and we are very well positioned to capitalize on the significant long-term opportunities before us as mobile computing dramatically expands beyond the smartphone. The actions we are taking today are designed to ensure that we are properly structured to seize these opportunities while delivering improved near-term performance. I have great confidence in our employees and our ability to implement this new plan and I look forward to providing our stockholders with quarterly updates on our progress.”

“On behalf of the Company and the entire Qualcomm Board, I want to sincerely thank Brent and Duane for their dedication to the Company, service to stockholders and substantial contributions to the growth and success of Qualcomm as it has generated significant shareholder returns during their tenure,” said Dr. Paul Jacobs, Executive Chairman of Qualcomm Incorporated. “We welcome Mark and Tony to the Board.”  Dr. Jacobs further added, “The comprehensive set of initiatives that we have unveiled today is aimed at enhancing stockholder value and driving growth as we position Qualcomm for continued success in the future.”

In connection with the appointments of Messrs. McLaughlin and Vinciquerra, Qualcomm Incorporated and JANA Partners have entered into a cooperation agreement, which will be filed with the Securities and Exchange Commission by the Company.

The Company will discuss the Strategic Realignment Plan during its fiscal third quarter results conference call today at 1:45pm Pacific Time.  The accompanying slides can be found athttp://investor.qualcomm.com/results.cfm.

Biographical information for Mark D. McLaughlin and Tony Vinciquerra

Mark D. McLaughlin is Chairman, President and Chief Executive Officer of Palo Alto Networks.  He joined the company as President and Chief Executive Officer in August of 2011 and became Chairman of the Board in 2012.  He previously served as President and Chief Executive Officer of Verisign, where he held a number of key positions from 2000 to 2007. Prior to Verisign, he was the Vice President of Sales and Business Development for Signio, a leading Internet payment company, and was instrumental in driving the acquisition of Signio by Verisign in 1999. Before joining Signio, he was the Vice President of Business Development for Gemplus, the world’s leading smart-card company, and served as General Counsel of Caere Corporation.  Earlier in his career, he practiced law as an attorney with Cooley Godward Kronish LLP.  President Barack Obama appointed Mr. McLaughlin to serve on the National Security Telecommunications Advisory Committee (NSTAC) in January 2011and to the position of Chairman of the NSTAC in 2014. Mr. McLaughlin currently serves on the Board of Directors for Opower.

Anthony J. “Tony” Vinciquerra is Senior Advisor to Texas Pacific Group in the Technology, Media and Telecom sectors, where he advises TPG on acquisitions and operations. Previously, he was Chairman and Chief Executive Officer of Fox Networks Group, the largest and most profitable operating unit of News Corporation.  Prior to joining Fox, he was Executive Vice President and Chief Operating Officer of Hearst-Argyle Television.  Earlier in his career, he held senior leadership positions at CBS’s television station group and at local television CBS affiliates in the Northeast.  Tony currently serves on the Board of Directors of companies including Univision Communications, Inc. and DirecTV.  Tony previously served as Lead Independent Director of Motorola Mobility and as a director of its predecessor company Motorola.

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 30 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 Qualcomm’s websiteOnQ blogTwitter and Facebook pages.

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 Strategic Realignment Plan and the goals, expectations, execution and elements of that plan, including aggressively right-sizing our cost structure, reviewing alternatives to our corporate and financial structure, reaffirming our plan to return significant capital to stockholders, adding new Directors with complementary skills while reducing the average tenure of the Board of Directors, further aligning executive compensation with performance, disciplined investment in areas that further our leadership positions and build upon our core technologies and capabilities and offer attractive growth opportunities and returns; our expectation that we will continue to be the industry leader in mobile technologies; and our being very well positioned to capitalize on the significant long-term opportunities before us. 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 our ability to successfully execute our Strategic Realignment Plan, including our ability to achieve anticipated cost savings in anticipated timeframes, and to improve our operations and business and financial results; commercial network deployments, expansions and upgrades of CDMA, OFDMA and other communications technologies, our customers’ and licensees’ sales of products and services based on these technologies and our ability to drive our customers’ demand for our products and services; competition in an environment of rapid technological change; 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; government regulations and policies, or adverse rulings in enforcement or other proceedings; the commercial success of our new technologies, products and services; the execution of our Strategic Realignment Plan; claims by third parties that we infringe their intellectual property; acquisitions, strategic transactions and investments; our dependence on a limited number of third-party suppliers; our stock price and earnings volatility; risks associated with our indebtedness; our ability to attract and retain qualified employees; global economic conditions that impact the mobile communications industry; foreign currency fluctuations and failures in our products or services or in the products or services of our customers or licensees, including those resulting from security vulnerabilities, defects or errors. These and other risks are set forth in the Company’s Quarterly Report on Form 10-Q for the third quarter ended June 28, 2015 filed with the SEC. Our reports filed with the SEC are available on our website at 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 is a trademark of Qualcomm Incorporated, registered in the United States and other countries. All other trademarks are the property of their respective owners.

Qualcomm Contacts:
Emily Kilpatrick
Corporate Communications
Phone: 1-858-845-5959
email: corpcomm@qualcomm.com

Warren Kneeshaw
Vice President, Investor Relations
Phone: 1-858-658-4813
e-mail: ir@qualcomm.com

Source: Qualcomm Incorporated

Related stocks: NASDAQ-NMS:QCOM

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Written by asiafreshnews

July 24, 2015 at 1:25 pm

Posted in Uncategorized

Qualcomm Announces Third Quarter Fiscal 2015 Results

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— Revenues $5.8 billion
— GAAP EPS $0.73, Non-GAAP EPS $0.99
— Record $6.2 billion of Capital Returned to Stockholders –
— Announces Strategic Realignment Plan –

SAN DIEGO /PRNewswire/ — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the third quarter of fiscal 2015 ended June 28, 2015.

“Our fiscal third quarter revenues, MSM chip shipments and EPS were within prior expectations, and we took a significant step towards our increased capital return commitments through the initiation of a $5 billion accelerated share repurchase as part of our plan to repurchase an additional $10 billion in stock by March 2016,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “During the quarter, we also launched a comprehensive review of our cost structure and announced today a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth. Importantly, the changes we are announcing today are designed to enable us to right-size our cost structure and reposition Qualcomm for improved financial and operating performance. We will continue to invest to build upon our technology leadership position and capitalize on the significant long-term opportunities before us in order to create sustainable long-term value for stockholders.”

Additional details on the Strategic Realignment Plan were released today by Qualcomm in a separate news release.

Third Quarter Results (GAAP)*

Q3 Fiscal
2015

Q3 Fiscal
2014

Year-Over-
Year
Change

Q2 Fiscal
2015

Sequential
Change

Revenues 1

$5.8B

$6.8B

(14%)

$6.9B

(15%)

Operating income 1

$1.2B

$2.1B

(40%)

$1.3B

(8%)

Net income 2

$1.2B

$2.2B

(47%)

$1.1B

+12%

Diluted earnings per share 2

$0.73

$1.31

(44%)

$0.63

+16%

Operating cash flow

$2.1B

$2.7B

(21%)

($0.7B)

N/M

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 Third Quarter Results*

Q3 Fiscal
2015

Q3 Fiscal
2014

Year-Over-
Year
Change

Q2 Fiscal
2015

Sequential
Change

Revenues

$5.8B

$6.8B

(14%)

$6.9B

(15%)

Operating income

$1.7B

$2.4B

(30%)

$2.7B

(37%)

Net income

$1.6B

$2.5B

(35%)

$2.3B

(31%)

Diluted earnings per share

$0.99

$1.44

(31%)

$1.40

(29%)

Non-GAAP results exclude the QSI (Qualcomm Strategic Initiatives) segment and certain share-based compensation, acquisition-related items, tax items and other items. Beginning in the first quarter of fiscal 2015, we changed our methodology for reporting Non-GAAP results to exclude third-party acquisition and integration services costs and certain other items, which may include major restructuring and restructuring-related costs, goodwill and long-lived asset impairment charges and litigation settlements and/or damages. Detailed reconciliations between 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 third quarter of fiscal 2015 GAAP results included:
    • $142 million of charges, or $0.08 per share, that resulted from an impairment of goodwill and long-lived assets related to one of our display businesses.
  • The second quarter of fiscal 2015 GAAP results included:
    • $975 million charge, or $0.58 per share, related to the resolution reached with the China National Development and Reform Commission (NDRC) regarding its investigation of us under China’s Anti-Monopoly Law; and
    • Operating cash flow also was impacted by the prepayment of $950 million to secure long-term capacity commitments at a supplier of our integrated circuit products.
  • The third quarter of fiscal 2014 Non-GAAP and GAAP results included:
    • $208 million of income, or $0.12 per share, of which $184 million was recorded in other income, due to the reversal of accruals related to our litigation with ParkerVision; and
    • $164 million of charges, or $0.08 per share, that resulted from an impairment of goodwill and long-lived assets related to one of our display businesses.

Third Quarter Key Business Metrics

Q3 Fiscal

2015

Q3 Fiscal

2014

Year-Over-Year
Change (1)

Q2 Fiscal

2015

Sequential
Change (1)

MSMchip shipments

225M

225M

–%

233M

(3%)

Total reported device sales (2)

$60.4B

$58.1B

+4%

$75.8B

(20%)

Est. reported 3G/4G device shipments (approx.) (2)

289M – 293M

250M – 254M

+15%

384M – 388M

(25%)

Est. reported 3G/4G average selling price (approx.) (2)

$205 – $211

$228 – $234

(10%)

$193 – $199

+6%

(1)

The midpoints of the estimated ranges are used for comparison purposes only and do not indicate a higher degree of confidence in the midpoints.

(2)

The third quarter of fiscal 2014 and 2015 are based on sales by our licensees in the March quarter as reported to us in the June quarter, and the second quarter of fiscal 2015 is based on sales by our licensees in the December quarter as reported to us in the March quarter.

Cash and Marketable Securities

Our cash, cash equivalents and marketable securities totaled $35.2 billion at the end of the third quarter of fiscal 2015, compared to $32.7 billion a year ago and $29.6 billion at the end of the second quarter of fiscal 2015. InMay 2015, we issued an aggregate principal amount of $10.0 billion of unsecured floating- and fixed-rate notes.

Return of Capital to Stockholders

During the third quarter of fiscal 2015, we returned $6.2 billion to stockholders, including $5.4 billion through repurchases of 63.7 million shares of common stock (which includes the 57.7 million shares initially delivered under the $5 billion accelerated share repurchase agreements (ASR Agreements)) and $757 million, or $0.48 per share, of cash dividends paid. The final number and the average purchase price of the shares to be delivered under the ASR Agreements will be determined upon settlement of the transactions, which is expected to occur in or before November 2015. Since June 28, 2015, we repurchased and retired 8.0 million shares of common stock for $510 million. On July 7, 2015, we announced a cash dividend of $0.48 per share payable on September 23, 2015 to stockholders of record as of the close of business on September 2, 2015.

Effective Income Tax Rates

Our fiscal 2015 annual effective income tax rates are estimated to be approximately 19 percent for GAAP and approximately 18 percent for Non-GAAP, both of which include the United States federal research and development (R&D) tax credit generated through December 31, 2014, the date on which the credit expired. The effective income tax rates for the third quarter of fiscal 2015 were 15 percent for both GAAP and Non-GAAP. Our estimated annual tax rates for fiscal 2015 GAAP and Non-GAAP decreased from our prior estimates of 21 percent and 19 percent, respectively, primarily resulting from an increase in the allocation of expenses to our United States operations.

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 most recent 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 financial outlook to the extent they are reasonably certain; however, actual results may differ materially from the outlook. Our outlook includes an estimate of the benefit related to stock repurchases that we plan to complete.

We have not included any estimates related to the proposed acquisition of CSR plc in our fiscal 2015 outlook. The acquisition is expected to close by the end of the summer of 2015. We expect the acquisition to be accretive to Non-GAAP earnings per share in fiscal 2016, the first full year of combined operations.

Strategic Realignment Plan

Today, we announced a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth as we work to create sustainable long-term value for stockholders. As part of this, among other actions, we are implementing a cost reduction plan to reduce our annual costs from fiscal 2015 levels of $7.3 billion (adjusted for variable compensation) by approximately $1.1 billion through a series of targeted reductions that will not jeopardize our growth objectives or core technology roadmap. We also plan to reduce annual share-based compensation grants by approximately $300 million. We expect these cost initiatives to be fully implemented by the end of fiscal 2016. In connection with this plan, we expect to incur approximately$350 million to $450 million in restructuring and restructuring-related charges, of which approximately $100 million to $200 million is included in our fourth quarter fiscal 2015 GAAP EPS guidance. Refer to the full text of that release on our investor relations website at: http://investor.qualcomm.com/results.cfm

QCT Outlook

We have reduced our outlook for our semiconductor business, QCT, in the fiscal fourth quarter compared to our prior expectations driven primarily by factors impacting premium-tier demand, including:

  • Increased concentration within the premium tier causing reduced demand for certain OEM devices that include our chipset;
  • Lower demand for our premium-tier chipsets from a vertical customer; and
  • Lower sell through in China of certain handset models using our premium-tier chipsets.

QTL Outlook

In the second quarter of fiscal 2015, we reached a resolution with the NDRC regarding its investigation and agreed to implement a rectification plan that modifies certain of our business practices in China. However, we continue to believe that certain licensees in China are not fully complying with their contractual obligations to report their sales of licensed products to us (which includes 3G/4G units that we believe are not being reported by certain licensees). We continue to make progress, with licensees executing agreements based on the new Chinaterms, and with several other licensees informing us that they intend to retain the terms of their existing agreements. Negotiations with certain other licensees are ongoing, and we expect it will take some time to conclude these negotiations. We believe that the conclusion of new agreements with these licensees will result in improved reporting by these licensees, including with respect to sales of three-mode devices (i.e., devices that implement GSM, TD-SCDMA, and LTE) sold in China. Our current outlook for our licensing business, QTL, also reflects the following:

  • We expect global 3G/4G device shipments to be approximately 1.52 billion to 1.6 billion for calendar year 2015. At this time, we are not providing a forecast for calendar year 2015 reported 3G/4G device shipments.
  • Our guidance for estimated fiscal fourth quarter and fiscal 2015 3G/4G total reported device sales includes an estimate of some prior period activity (i.e., devices shipped in prior periods) that may be reported to us.

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

FOURTH FISCAL QUARTER

Q4 FY14

Results

Current Guidance

Q4 FY15 Estimates (1)

Revenues

$6.7B

$4.7B – $5.7B

Year-over-year change

decrease 15% – 30%

Non-GAAP diluted earnings per share (EPS)

$1.26

$0.75 – $0.95

Year-over-year change

decrease 25% – 40%

Diluted EPS attributable to QSI

$0.02

($0.01)

Diluted EPS attributable to share-based compensation

($0.12)

($0.13)

Diluted EPS attributable to other items

($0.05)

($0.05) – ($0.10)

GAAP diluted EPS

$1.11

$0.51 – $0.76

Year-over-year change

decrease 32% – 54%

Metrics

MSM chip shipments

236M

170M – 190M

Year-over-year change

decrease 19% – 28%

Total reported device sales* (2)

approx. $57.4B

approx. $60.5B – $66.5B (3)

Year-over-year change

increase 5% – 16%

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

FISCAL YEAR

FY 2014

Results

Prior Guidance

FY 2015 Estimates

Current Guidance
FY 2015 Estimates (1)

Revenues

$26.5B

$25.0B – $27.0B

$24.5B – $25.5B

Year-over-year change

decrease 6% – increase 2%

decrease 4% – 8%

Non-GAAP diluted EPS

$5.27

$4.60 – $5.00

$4.50 – $4.70

Year-over-year change

decrease 5% – 13%

decrease 11% – 15%

Diluted EPS attributable to QSI

$0.01

($0.04)

($0.04)

Diluted EPS attributable to share-based compensation

($0.50)

($0.54)

($0.52)

Diluted EPS attributable to other items

($0.13)

($0.74)

($0.84) – ($0.89)

GAAP diluted EPS

$4.65

$3.28 – $3.68

$3.05 – $3.30

Year-over-year change

decrease 21% – 29%

decrease 29% – 34%

Metrics

Total reported device sales* (2)

approx. $243.6B

approx. $255.0B – $275.0B (3)

approx. $253.0B – $259.0B (3)

Year-over-year change

increase 5% – 13%

increase 4% – 6%

*Est. sales in Sept. to June quarters, reported in Dec. to Sept. quarters

(1)

Our guidance range for GAAP for the fourth quarter of fiscal 2015 includes an estimate of restructuring and restructuring-related charges of $100 million to $200 million; these charges are excluded from our Non-GAAP guidance.

(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. In addition, certain licensees may not report (in the quarter in which they are contractually obligated to report) their sales of certain types of subscriber units, which (as a result of audits, legal actions or for other reasons) may be reported in a subsequent quarter. Accordingly, 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 guidance range for the fourth quarter of fiscal 2015 and fiscal 2015 total reported device sales reflects estimated 3G/4G total reported device sales that we currently expect to be reported to us, which includes an estimate of some prior period activity (i.e., devices shipped in prior periods) that may be reported to us.

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 (a)

Non-GAAP

QSI

Share-Based Compensation

Other Items (b) (c) (d)

GAAP

Q3 – FISCAL 2015

Revenues

$3,853

$1,931

$48

$5,832

$—

$—

$—

$5,832

Change from prior year

(22%)

7%

4%

(14%)

(14%)

Change from prior quarter

(13%)

(20%)

4%

(15%)

(15%)

Cost of equipment and services revenues

$2,386

$—

$10

$55

$2,451

Research and development

1,226

2

176

3

1,407

Selling, general and administrative

491

19

85

(18)

577

Other expenses

20

142

162

Operating income (loss)

$1,709

($21)

($271)

($182)

$1,235

Change from prior year

(30%)

N/M

1%

N/M

(40%)

Change from prior quarter

(37%)

N/M

(9%)

84%

(8%)

Investment income, net

$191

(e)

($28)

(f)

$—

$—

$163

EBT

$289

$1,654

($43)

$1,900

($49)

($271)

($182)

$1,398

Change from prior year

(74%)

7%

N/M

(33%)

N/M

1%

N/M

(44%)

Change from prior quarter

(61%)

(23%)

N/M

(35%)

(53%)

(9%)

84%

(9%)

EBT as % of revenues

8%

86%

N/M

33%

24%

Net income (loss)

$1,611

($26)

($213)

($188)

$1,184

Change from prior year

(35%)

N/M

8%

N/M

(47%)

Change from prior quarter

(31%)

4%

(3%)

82%

12%

Diluted EPS

$0.99

($0.02)

($0.13)

($0.12)

$0.73

Change from prior year

(31%)

N/M

7%

N/M

(44%)

Change from prior quarter

(29%)

—%

(8%)

81%

16%

Diluted shares used

1,629

1,629

1,629

1,629

1,629

Q2 – FISCAL 2015

Revenues

$4,434

$2,414

$46

$6,894

$—

$—

$—

$6,894

Operating income (loss)

2,707

(4)

(249)

(1,118)

1,336

EBT

$750

$2,162

$26

2,938

(32)

(249)

(1,118)

1,539

Net income (loss)

2,339

(27)

(206)

(1,053)

1,053

Diluted EPS

$1.40

($0.02)

($0.12)

($0.63)

$0.63

Diluted shares used

1,667

1,667

1,667

1,667

1,667

Q3 – FISCAL 2014

Revenues

$4,957

$1,803

$46

$6,806

$—

$—

$—

$6,806

Operating income (loss)

2,425

(5)

(274)

(71)

2,075

EBT

$1,116

$1,550

$177

2,843

(1)

(274)

(71)

2,497

Net income (loss)

2,470

(232)

2,238

Diluted EPS

$1.44

$0.00

($0.14)

$0.00

$1.31

Diluted shares used

1,714

1,714

1,714

1,714

1,714

Q4 – FISCAL 2014

Revenues

$4,849

$1,795

$48

$6,692

$—

$—

$—

$6,692

Operating income (loss)

2,323

(3)

(252)

(76)

1,992

EBT

$1,045

$1,536

($30)

2,551

29

(252)

(76)

2,252

Net income (loss)

2,143

28

(199)

(78)

1,894

Diluted EPS

$1.26

$0.02

($0.12)

($0.05)

$1.11

Diluted shares used

1,701

1,701

1,701

1,701

1,701

(a)

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 research and development expenses, selling, general and administrative expenses, other expenses or income and certain investment income that are not allocated to the segments for management reporting purposes; nonreportable segment results; and the elimination of intersegment profit.

(b)

Beginning in the first quarter of fiscal 2015, we changed our methodology for reporting Non-GAAP results to exclude third-party acquisition and integration services costs and certain other items, which may include major restructuring and restructuring-related costs, goodwill and long-lived asset impairment charges and litigation settlements and/or damages. In the third quarter of fiscal 2015, other items excluded from Non-GAAP EBT included impairment charges of $131 million and $11 million related to goodwill and intangible assets, respectively, $78 million of acquisition-related items and $6 million of severance costs related to restructurings, partially offset by a $44 million gain on the sale of certain assets.

(c)

In the third quarter of fiscal 2015, the tax expense in the “Other Items” column included a $4 million tax expense to reconcile the tax provision for each column to the total GAAP tax provision for the quarter, a $1 million tax expense for the tax effect of other items in EBT and a $1 million tax expense for the tax effect of acquisition-related items. At fiscal year end, 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 included in the tax provision (benefit) in the “Other Items” column. In interim quarters of prior fiscal years, this difference was allocated to the tax provisions (benefits) among the columns. See the “Reconciliation of Non-GAAP Tax Rates to GAAP Tax Rates” herein.

(d)

Details of amounts included in the “Other Items” column for prior periods are included in the releases for those periods.

(e)

Included $127 million in interest and dividend income, $109 million in net realized gains on investments and $1 million in other net investment income, partially offset by $32 million in interest expense and $14 million in other-than-temporary losses on investments.

(f)

Included $41 million in other-than-temporary losses on investments, partially offset by $13 million in other net investment income.

SEGMENTS

QCT

QTL

Non-GAAP Reconciling Items (a)

Non-GAAP

QSI

Share-Based Compensation

Other Items (d) (g) (h)

GAAP

9 MONTHS – FISCAL 2015

Revenues

$13,529

$6,162

$134

$19,825

$—

$—

$—

$19,825

Change from prior year

(2%)

7%

(35%)

—%

—%

Cost of equipment and services revenues

$7,909

$—

$33

$184

$8,126

Research and development

3,582

5

508

38

4,133

Selling, general and administrative

1,366

27

252

44

1,689

Other expenses

20

1,221

1,241

Operating income (loss)

$6,948

($32)

($793)

($1,487)

$4,636

Change from prior year

5%

(100%)

2%

N/M

(17%)

Investment income, net

$650

(i)

($50)

(j)

$—

$—

$600

EBT

$2,185

$5,395

$18

$7,598

($82)

($793)

($1,487)

$5,236

Change from prior year

(21%)

7%

N/M

—%

N/M

2%

N/M

(20%)

EBT as % of revenues

16%

88%

N/M

38%

26%

Net income (loss)

$6,213

($53)

($648)

($1,303)

$4,209

Change from prior year

(10%)

N/M

1%

N/M

(31%)

Diluted EPS

$3.74

($0.03)

($0.39)

($0.78)

$2.53

Change from prior year

(7%)

N/M

(3%)

N/M

(28%)

Diluted shares used

1,661

1,661

1,661

1,661

1,661

9 MONTHS – FISCAL 2014

Revenues

$13,816

$5,774

$205

$19,795

$—

$—

$—

$19,795

Operating income (loss)

6,611

(16)

(806)

(231)

5,558

EBT

$2,762

$5,054

($217)

7,599

(36)

(806)

(231)

6,526

Discontinued operations, net of tax

430

430

Net income (loss)

6,888

(13)

(655)

(147)

6,073

Diluted EPS

$4.01

($0.01)

($0.38)

($0.08)

$3.53

Diluted shares used

1,718

1,718

1,718

1,718

1,718

12 MONTHS – FISCAL 2014

Revenues

$18,665

$7,569

$253

$26,487

$—

$—

$—

$26,487

Operating income (loss)

8,933

(18)

(1,059)

(306)

7,550

EBT

$3,807

$6,590

($247)

10,150

(7)

(1,059)

(306)

8,778

Discontinued operations, net of tax

430

430

Net income (loss)

9,032

15

(856)

(224)

7,967

Diluted EPS

$5.27

$0.01

($0.50)

($0.13)

$4.65

Diluted shares used

1,714

1,714

1,714

1,714

1,714

(g)

In the nine months ended June 28, 2015, other items excluded from Non-GAAP EBT included $975 million related to the resolution reached with the NDRC, $240 million of acquisition-related items, $235 million related to goodwill impairment charges, $43 million of severance costs related to restructurings and $38 million in impairment charges related to intangible assets, partially offset by a $44 million gain on the sale of certain assets.

(h)

In the nine months ended June 28, 2015, the tax benefit in the “Other Items” column included a $101 million tax benefit related to fiscal 2014 as a result of the retroactive reinstatement of the federal R&D tax credit, a $61 million tax benefit as a result of an agreement reached with the Internal Revenue Service related to Atheros’ pre-acquisition tax returns, a $25 million tax benefit for the tax effect of other items in EBT and a $3 million tax benefit related to fiscal 2014 as a result of the retroactive reinstatement of other tax laws, partially offset by a $6 million tax expense to reconcile the tax provisions for each column to the total GAAP tax provision for the nine months ended June 28, 2015. See the “Reconciliation of Non-GAAP Tax Rates to GAAP Tax Rates” herein.

(i)

Included $397 million in interest and dividend income, $371 million in net realized gains on investments and $6 million in other net investment income, partially offset by $90 million in other-than-temporary losses on investments and $34 million in interest expense.

(j)

Included $71 million in other-than-temporary losses on investments and $18 million in equity in losses of investees, partially offset by $28 million in net realized gains on investments and $11 million in other net investment income.

N/M – Not Meaningful

Sums may not equal totals due to rounding.

Reconciliation of Non-GAAP Tax Rates to GAAP Tax Rates

(Unaudited)

Three Months Ended June 28, 2015

($ in millions)

Non-GAAP Results

QSI

Share-Based Compensation

Other Items

GAAP Results

Income (loss) from continuing operations before income taxes

$

1,900

$

(49)

$

(271)

$

(182)

$

1,398

Income tax (expense) benefit

(289)

22

58

(6)

(215)

Income (loss) from continuing operations

$

1,611

$

(27)

$

(213)

$

(188)

$

1,183

Tax rate

15%

45%

21%

(3%)

15%

Nine Months Ended June 28, 2015

($ in millions)

Non-GAAP Results

QSI

Share-Based Compensation

Other Items

GAAP Results

Income (loss) from continuing operations before income taxes

$

7,598

$

(82)

$

(793)

$

(1,487)

$

5,236

Income tax (expense) benefit

(1,385)

27

145

184

(1,029)

Income (loss) from continuing operations

$

6,213

$

(55)

$

(648)

$

(1,303)

$

4,207

Tax rate

18%

33%

18%

12%

20%

Conference Call

Qualcomm’s fiscal third quarter 2015 earnings conference call will be broadcast live on July 22, 2015, 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 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 78002754.

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 used by the Company include revenues, cost of equipment and services revenues, R&D expenses, SG&A expenses, other expenses, operating income, net investment income, income or earnings before income taxes, effective tax rate, net income and diluted earnings per share. 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, tax items and other items.

  • QSI is excluded because the Company expects to exit its strategic investments in the foreseeable future, 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.
  • Certain other items are excluded because management views such expenses as unrelated to the operating activities of the Company’s ongoing core businesses, as follows:
    • Acquisition-related items include amortization 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. Starting in the first quarter of fiscal 2015, the Company excludes third-party acquisition and integration services costs. Prior year amounts have not been reclassified to conform to the current presentation.
    • Starting in the first quarter of fiscal 2015, the Company excludes certain other items that management views as unrelated to the Company’s ongoing business, such as major restructuring and restructuring-related costs, goodwill and long-lived asset impairments and litigation settlements and/or damages. Prior year amounts have not been reclassified to conform to the current presentation.
    • Certain tax items that are unrelated to the fiscal year in which they are recorded are excluded in order to provide a clearer understanding of the Company’s ongoing Non-GAAP tax rate and after tax earnings. Also, the provision (benefit) to reconcile the tax provisions (benefits) for each column to the total GAAP tax provision for the quarter is excluded. At fiscal year end, 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 included in the tax provision (benefit) in the “Other Items” column. In interim quarters of prior fiscal years, this difference was allocated to the tax provisions (benefits) among the columns.

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 whollyowned 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 30 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 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 capital return commitments, including our plan to repurchase an additional $10 billion in stock by March 2016, our ASR program, including the final number and average purchase price of shares to be delivered thereunder and the timing thereof, and the benefit to our outlook related to stock repurchases we intend to complete; our reduced outlook for our semiconductor business and the factors driving the reduced outlook; our Strategic Realignment Plan and the actions and goals related thereto, including our cost reduction plan and our expectations regarding reducing annual costs and share-based compensation, as well as the restructuring and restructuring-related charges we expect to incur and the timing thereof; our intent to continue to invest to build upon our technology leadership position and capitalize on the long-term opportunities before us; our proposed acquisition of CSR plc, including the expected timing and financial impact of, and our ability to complete, the acquisition; certain licensees in China not fully complying with their contractual obligations to report their sales of licensed products to us; progress with licensees executing agreements based on the new China terms and with several other licensees informing us that they intend to retain the terms of their existing agreements, our expectations that it will take some time to conclude negotiations with certain other licensees, and our belief that the conclusion of new agreements with these licensees will result in improved reporting by these licensees, including with respect to sales of three-mode devices; 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, global 3G/4G and reported 3G/4G device shipments, 3G/4G average selling prices and effective income tax rates. 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 commercial network deployments, expansions and upgrades of CDMA, OFDMA and other communications technologies, our customers’ and licensees’ sales of products and services based on these technologies and our ability to drive our customers’ demand for our products and services; competition in an environment of rapid technological change; 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; government regulations and policies, or adverse rulings in enforcement or other proceedings; the commercial success of our new technologies, products and services; the execution of our Strategic Realignment Plan; claims by third parties that we infringe their intellectual property; acquisitions (including the possibility that the CSR acquisition may not be completed timely, if at all), strategic transactions and investments; our dependence on a limited number of third-party suppliers; our stock price and earnings volatility; our indebtedness; our ability to attract and retain qualified employees; global economic conditions that impact the mobile communications industry; foreign currency fluctuations and failures in our products or services or in the products or services of our customers or licensees, including those resulting from security vulnerabilities, defects or errors. These and other risks are set forth in the Company’s Quarterly Report on Form 10-Q for the third quarter ended June 28, 2015 filed with the SEC. Our reports filed with the SEC are available on our website at 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, Snapdragon 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

Qualcomm Incorporated

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions, except per share data)

(Unaudited)

June 28,
2015

September 28,
2014

ASSETS

Current assets:

Cash and cash equivalents

$

9,987

$

7,907

Marketable securities

11,344

9,658

Accounts receivable, net

1,961

2,412

Inventories

1,583

1,458

Deferred tax assets

472

577

Other current assets

581

401

Total current assets

25,928

22,413

Marketable securities

13,894

14,457

Deferred tax assets

1,275

1,174

Property, plant and equipment, net

2,574

2,487

Goodwill

4,259

4,488

Other intangible assets, net

2,405

2,580

Other assets

1,960

975

Total assets

$

52,295

$

48,574

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Trade accounts payable

$

1,412

$

2,183

Payroll and other benefits related liabilities

697

802

Unearned revenues

680

785

Short-term debt

1,000

Other current liabilities

2,294

2,243

Total current liabilities

6,083

6,013

Unearned revenues

2,576

2,967

Long-term debt

9,913

Other liabilities

527

428

Total liabilities

19,099

9,408

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; 1,578 and 1,669 shares issued and outstanding, respectively

7,736

Retained earnings

32,699

30,799

Accumulated other comprehensive income

503

634

Total Qualcomm stockholders’ equity

33,202

39,169

Noncontrolling interests

(6)

(3)

Total stockholders’ equity

33,196

39,166

Total liabilities and stockholders’ equity

$

52,295

$

48,574

Qualcomm Incorporated

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share data)

(Unaudited)

Three Months Ended

Nine Months Ended

June 28,
2015

June 29,
2014

June 28,
2015

June 29,
2014

Revenues:

Equipment and services

$

3,840

$

4,922

$

13,459

$

13,803

Licensing

1,992

1,884

6,366

5,992

Total revenues

5,832

6,806

19,825

19,795

Costs and expenses:

Cost of equipment and services revenues

2,451

2,740

8,126

7,929

Research and development

1,407

1,429

4,133

4,113

Selling, general and administrative

577

582

1,689

1,745

Other

162

(20)

1,241

450

Total costs and expenses

4,597

4,731

15,189

14,237

Operating income

1,235

2,075

4,636

5,558

Investment income, net

163

422

600

968

Income from continuing operations before income taxes

1,398

2,497

5,236

6,526

Income tax expense

(215)

(260)

(1,029)

(886)

Income from continuing operations

1,183

2,237

4,207

5,640

Discontinued operations, net of income taxes

430

Net income

1,183

2,237

4,207

6,070

Net loss attributable to noncontrolling interests

1

1

2

3

Net income attributable to Qualcomm

$

1,184

$

2,238

$

4,209

$

6,073

Basic earnings per share attributable to Qualcomm:

Continuing operations

$

0.74

$

1.33

$

2.57

$

3.35

Discontinued operations

0.25

Net income

$

0.74

$

1.33

$

2.57

$

3.60

Diluted earnings per share attributable to Qualcomm:

Continuing operations

$

0.73

$

1.31

$

2.53

$

3.28

Discontinued operations

0.25

Net income

$

0.73

$

1.31

$

2.53

$

3.53

Shares used in per share calculations:

Basic

1,608

1,683

1,638

1,686

Diluted

1,629

1,714

1,661

1,718

Dividends per share announced

$

0.48

$

0.42

$

1.32

$

1.12

Qualcomm Incorporated

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months Ended

Nine Months Ended

June 28,
2015

June 29,
2014

June 28,
2015

June 29,
2014

Operating Activities:

Net income

$

1,183

$

2,237

$

4,207

$

6,070

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

Depreciation and amortization expense

297

292

888

853

Gain on sale of discontinued operations

(665)

Long-lived asset and goodwill impairment charges

166

164

304

642

Income tax provision in excess of (less than) income tax payments

86

(24)

159

244

Non-cash portion of share-based compensation expense

271

274

793

806

Incremental tax benefits from share-based compensation

(20)

(70)

(98)

(239)

Net realized gains on marketable securities and other investments

(122)

(298)

(399)

(685)

Impairment losses on marketable securities and other investments

55

11

161

170

Other items, net

2

15

(29)

(5)

Changes in assets and liabilities:

Accounts receivable, net

100

139

438

43

Inventories

281

(37)

(122)

116

Other assets

241

9

(897)

136

Trade accounts payable

(261)

286

(769)

321

Payroll, benefits and other liabilities

(1)

(235)

(406)

(337)

Unearned revenues

(162)

(90)

(408)

(202)

Net cash provided by operating activities

2,116

2,673

3,822

7,268

Investing Activities:

Capital expenditures

(366)

(158)

(815)

(955)

Purchases of available-for-sale securities

(4,360)

(2,488)

(13,118)

(10,315)

Proceeds from sales and maturities of available-for-sale securities

3,266

4,060

11,897

9,744

Purchases of trading securities

(339)

(1,054)

(1,034)

(2,868)

Proceeds from sales and maturities of trading securities

298

826

1,008

2,619

Purchases of other marketable securities

(220)

(220)

Proceeds from sale of discontinued operations, net of cash sold

788

Proceeds from sales of property, plant and equipment

128

36

161

37

Acquisitions and other investments, net of cash acquired

(130)

(100)

(308)

(447)

Other items, net

(27)

4

(11)

65

Net cash (used) provided by investing activities

(1,530)

906

(2,220)

(1,552)

Financing Activities:

Proceeds from short-term debt

1,718

2,813

Proceeds from long-term debt

9,937

9,937

Repayment of short-term debt

(1,813)

(1,814)

Proceeds from issuance of common stock

154

194

571

1,147

Repurchases and retirements of common stock

(5,405)

(1,350)

(9,016)

(3,354)

Dividends paid

(757)

(706)

(2,142)

(1,884)

Incremental tax benefits from share-based compensation

20

70

98

239

Other items, net

50

(184)

41

(65)

Net cash provided (used) by financing activities

3,904

(1,976)

488

(3,917)

Effect of exchange rate changes on cash and cash equivalents

5

4

(10)

3

Net increase in cash and cash equivalents

4,495

1,607

2,080

1,802

Cash and cash equivalents at beginning of period

5,492

6,337

7,907

6,142

Cash and cash equivalents at end of period

$

9,987

$

7,944

$

9,987

$

7,944

Source: Qualcomm Incorporated

Related stocks: NASDAQ-NMS:QCOM

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Written by asiafreshnews

July 24, 2015 at 1:18 pm

Posted in Uncategorized

Ipreo to Acquire iLEVEL; Form Private Capital Markets Division

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— Division to bring new levels of data quality, control and efficiency to Private Capital Markets

NEW YORK /PRNewswire/ — Ipreo, a global leader of data, market intelligence and productivity solutions to capital markets and corporate professionals, today announced the acquisition of iLEVEL, a leading portfolio monitoring, analytics and transparency platform for global private capital markets. iLEVEL will be merged with Ipreo’s Alternative Assets group to form a new Private Capital Markets division within Ipreo.

The newly formed Private Capital Markets division will be dedicated to driving new levels of data flexibility, quality, control and efficiency, while enabling private market participants to generate deeper insights, create more value, demonstrate performance and – ultimately – increase allocations. In the immediate term, the new division’s suite of solutions will include the iLEVEL platform, CapControls, QVAL and ClearMomentum, with plans to integrate data and technology into a comprehensive and cutting-edge platform.

“We have long seen a need for greater transparency in the alternative assets space. The acquisition and integration of a company of iLEVEL’s caliber is a clear demonstration of our commitment to deliver high-quality, innovative solutions to the private capital markets,” said Kevin Marcus, President and COO of Ipreo. “Ipreo will provide a combination of platforms, content and expertise, empowering us to bring unique solutions to market.”

“As a leader in providing world-class data solutions for the private markets, we are excited to become part of Ipreo and to further grow the company’s participation in this asset class,” said Kevin Black, CEO of iLEVEL. “Ipreo has deep expertise in capital-raising solutions, global scale and a strong leadership team. The merger of these solutions will bring long-term benefits to iLEVEL and all Ipreo Private Capital Markets clients across multiple work streams through a single integrated platform.”

Erik Hirsch, chief investment officer of Hamilton Lane and a member of the iLEVEL board of directors added, “iLEVEL has been at the forefront of linking GPs and LPs through greater communication, improved connectivity and enhanced data transparency. We view this strategic alliance as the next positive step in furthering those initiatives and believe the new Private Capital Markets division will greatly benefit from iLEVEL’s sophisticated technology, scaled commercial infrastructure and strong client presence in the private markets.”

Hamilton Lane as well as Duff & Phelps – a leading global valuation and corporate finance advisor – have agreed to roll significant portions of their iLEVEL ownership into an investment stake in Ipreo. Beyond this vested interest, both Hamilton Lane and Duff & Phelps will remain closely aligned with Ipreo’s Private Capital Markets division as critical strategic partners.

Ipreo is a leading provider of primary new-issuance solutions and investor data to all participants in the global capital markets, enabling clients to execute deals more efficiently. Ipreo was acquired in August 2014 by private equity funds managed by Blackstone and Goldman Sachs Merchant Banking Division, and shortly thereafter expanded into the Alternative Assets space with the acquisitions of Shareholder InSite and ClearMomentum.

Originated from within the Blackstone Group in 2006 and spun off as an independent entity in 2010, iLEVEL has changed the way the industry manages, communicates and delivers private capital data. The iLEVEL platform streamlines data collection, analysis and reporting, allowing private capital firms, their LPs and service providers to manage the overall data flow across their respective asset classes. Today, iLEVEL is a leader in private market portfolio management solutions, and counts many of the world’s top private capital firms, fund managers and institutional investors as its clients.

The Ipreo Private Capital Markets Division will be led by Kevin Black, current CEO of iLEVEL. Black is a proven leader in the financial data and analytics space and has successfully led and scaled some of the largest and most successful products and teams in the industry. His deep experience includes serving as an early member of the Capital IQ executive team where he built their global operations and helped drive growth from start-up stage to over 4,000 clients and $400mm in revenue.  Prior to that he served as President of Nelson Information, and – following its sale to Thomson Financial – led Thomson’s global data product management and operations.

Macquarie Capital is acting as financial advisor to Ipreo, and Locke Lord LLP is acting as Ipreo’s legal counsel in respect to the transaction. Barclays Bank PLC is acting as financial advisor to iLEVEL Solutions Holdings LLC, and Goodwin Procter LLP is acting as iLEVEL’s legal counsel in respect to the transaction. Financial details of the transaction were not disclosed.

About Ipreo

Ipreo is a leading global provider of financial services technology, data and analytical services, supporting all participants in the capital-raising process, including sell-side professionals, finance officers at private and public companies, institutional investors, and asset managers. Our unique, cross-asset class solutions equip our clients with the information and tools they need for more effective decision-making and more efficient workflow. Ipreo is the only financial services provider to offer solutions across all asset classes for the Equity, Fixed Income, Municipal, Syndicated Loans, and Alternative Assets markets. Ipreo is private-equity held by Blackstone and Goldman Sachs Merchant Banking Division, and has more than 800 employees supporting clients in every major financial center around the world. For more information, please go to www.ipreo.com.

About iLEVEL

iLEVEL enables increased allocation of capital to alternatives by empowering private capital market participants to more effectively control their data. Whether it is for portfolio assessment, valuations, investor reporting, on-demand insight into the operating metrics of a specific asset, or cash transaction monitoring, iLEVEL is the platform of choice for the private capital industry. The number of firms on iLEVEL has doubled in the past year and includes alternative investment firms of varying sizes that employ a wide range of investment strategies including Private Equity, Real Estate, Credit and Venture Capital.  GP clients use iLEVEL to track over 11,500 assets while leading LPs track over 62,000 assets across more than 7,000 fund investments.  In aggregate, iLEVEL users track over 1 billion data points across their investment portfolios. Visit www.ilevelsolutions.com.

Source: Ipreo
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Written by asiafreshnews

July 24, 2015 at 1:10 pm

Posted in Uncategorized

Manulife to Release Second Quarter 2015 Financial Results

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TORONTO /PRNewswire/ —

TSX/NYSE/PSE: MFC
SEHK:945

Manulife Financial Corporation will release its second quarter 2015 financial results on the morning of Thursday, August 6, 2015. There will be a live webcast of the quarterly conference call with analysts beginning at 2:00 p.m. (ET).

Scheduled speakers are Donald Guloien, President and Chief Executive Officer and Steve Roder, Senior Executive Vice President and Chief Financial Officer.

Telephone Conference Call:

Please call in 10 minutes prior to the scheduled start time.

Local and International: 416-340-8530

Toll free in North America: 1-800-769-8320

A replay of the call will be available beginning at 6:00 p.m. (ET) beginning on August 6, 2015 through August 20, 2015 by dialing 1-800-408-3053 or 905-694-9451 (Pass Code: 6718073).

About Manulife
Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in other parts of the world. We provide strong, reliable, trustworthy and forward-thinking solutions for our customers’ significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Assets under administration by Manulife and its subsidiaries were approximately C$821 billion (US$648 billion) as at March 31, 2015.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife can be found on the Internet at manulife.com

For further information:

Media Contact:

Sean B. Pasternak
Manulife
416-852-2745
sean_pasternak@manulife.com

Investor Relations:

Steven Moore
Manulife
416-926-6495
steven_moore@manulife.com

Robert Veloso
Manulife
416-852-8982
robert_veloso@manulife.com

Source: Manulife Financial Corporation

Related stocks: HongKong:0945 NYSE:MFC

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Written by asiafreshnews

July 24, 2015 at 12:32 pm

Posted in Uncategorized

MY-ecolodge, a Perfect Getaway in Niseko for Budget Travellers

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HOKKAIDO, Japan /PRNewswire/ — Niseko’s reputation as one of the best powder-skiing destinations in the world attracts skiing and snowboarding devotees from all over. Finding a nice, plushy accommodation in the high-end district of Niseko that won’t burn a big hole in one’s pocket can be an arduous challenge. Travellers in need of an economical stay without having to compromise on comfort will be pleased to discover MY-ecolodge, an exceptionally ideal accommodation that is suitably and adequately equipped. MY-ecolodge will open its doors in November 2015, ready to indulge budget travellers with all the extras that many other lodges lack.

To view the Multimedia News Release, please click: http://www.prnasia.com/mnr/myecolodge_201507.shtml

Artist’s Rendering Of Lobby
Artist’s Rendering Of Lobby
Oyunuma Hot Spring
Oyunuma Hot Spring
Oyunuma Hot Spring
Oyunuma Hot Spring
Cherry Blossoms
Cherry Blossoms

Situated just three minutes from the well-favoured town of Hirafu, this boutique lodge boasts 51 rooms and a total of 152 beds and lodgers may choose between a single or double room. For larger groups, MY-ecolodge also provides roomy dormitories for cozying up after a long, enjoyable day.

This gem of a lodge caters mainly to the needs of students, groups and budget travellers. It offers well-maintained amenities including free high speed Wi-Fi and heavenly food, which all add up to the perfect getaway.

A spacious yet cozy indoor common lounge encourages catching-up between activities. Well-equipped activities desks are also accessible for recreational purposes. For guests who simply want to laze around while savouring the cooling breeze or perhaps the warm summertime weather, a terrace and an outdoor recreation area await.

The warm hospitality by well-trained staff and exceptional services akin to a 5-star hotel experience is also extended to those on school educational trips or on corporate retreats. Highly professional event planners are at hand to design fun packed activities for students and to take charge of corporate retreat programs, for both short and long-term stays.

Employers sending their employees on work trips to Niseko can now breathe easy too, for MY-ecolodge is the perfectly pleasant accommodation that is kind to the company bank book.

MY-ecolodge is by far the smartest choice for anyone with budget constraints. Whether it’s for individual stay or for bulk booking, nothing else comes close to what MY-ecolodge has to offer.

Everyone and anyone can now afford a dream trip to Niseko!

CONTACT:
Ms Lynn Marian, Group PR & Marketing Communications
Email: lynn@lowyatgroup.com.my
Tel.: +60-16-6364513

Photo – http://photos.prnasia.com/prnh/20150716/8521504673-a
Photo – http://photos.prnasia.com/prnh/20150716/8521504673-b
Photo – http://photos.prnasia.com/prnh/20150716/8521504673-c
Photo – http://photos.prnasia.com/prnh/20150717/8521504673-d

Source: My Eco Lodge Sdn Bhd

Written by asiafreshnews

July 24, 2015 at 12:13 pm

Posted in Uncategorized

US Senator Recognizes Conservation Efforts of Wenliang Wang

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WASHINGTON /PRNewswire/ — On June 22, United States Senator and former Majority LeaderHarry Reid (D-NV) recognized Mr. Wenliang Wang, Chairman of the China Rilin Industrial Group, for his conservation efforts to restore the Dandong Yalu River Estuary Wetland in China. These wetlands that cover more than 200,000 acres are considered to be of “great importance as a feeding and resting area for hundreds of thousands of the world’s migrating and wading birds,” according to the Dandong Yalu River Estuary Wetland National Nature Reserve.

Photo- http://photos.prnewswire.com/prnh/20150722/240588
Photo- http://photos.prnewswire.com/prnh/20150722/240589

The Senator said, “Mr. President, I rise today to recognize entrepreneur and philanthropist Wenliang Wang for his commitment and dedication to restoring one of the world’s most impressive wetlands, the Dandong Yalu River Estuary Wetland in China.”

Reid went on to say that it was Mr. Wang’s, “private efforts and personal connection to the [Dandong] area that has influenced him to invest millions of dollars in the restoration of the Dandong Yalu River Estuary Wetland.”

According to the Dandong Yalu River Estuary Wetland National Nature Reserve, there are approximately 5 million wading birds of 55 kinds that fly across 20 countries and regions from Alaska to Siberia, down south through East Asia, Southeast Asia to Australia and New Zealand. The wetland is 1,860-3,100 miles from breeding grounds in Alaska and Siberia, and 3,100-3,728 miles from Australia and New Zealand where wading birds spend their winters. It is the closest place near the north-pole tundra for the wading birds to get sufficient foods before they go into breeding zones. Following its restoration, the wetlands have become one of the most inhabited wetlands on these migratory routes with over one million birds spending the winter, passing through, or making the wetlands home because of its unique location, friendly eco environs and abundant food supplies.

In March 2007, 12 bar-tailed godwits labeled “E7” in New Zealand were tagged for the first time with satellite GPS tracking devices to monitor their activities. On March 17th, 2007, the E7 left Miranda, New Zealand, flew 7 days non-stop for 6,342 miles and reached the Dandong Yalu River Estuary Wetland. This was the longest non-stop flight recorded for migratory birds. There were several suitable places on the way where E7 could have landed, but they chose to bypass those and continue on to the wetlands as bar-tailed godwits have high loyalty to their resting places. For the next five weeks, the E7 resided in the wetlands to prepare for their flight to Alaska that was recorded on May 1, 2007. Currently, there are 250 kinds of birds and 76 kinds of fish, 103 various species of amphibians and mammals, and 365 different plants in the wetlands.

In terms of its role in conservation, the wetland has also become a popular feeding and resting hub for one of the world’s rarest birds, the Saunders’s Gull. There are only 7,000 of these birds left in the world, and over 2,600 have made the wetland their home. In 2014, the Wetlands International awarded the Dandong Yalu River Estuary Wetland the title “Best Station for Plover Snipes”.

Over the past decade, Mr. Wang has made the Dandong Port one of the most important gateways for northeastChina, with an annual capacity of 138 million metric tons. His business is now the largest taxpayer in Dandong, a city with a population of nearly 2.5 million.

Additionally, Mr. Wang’s business interests have expanded into different sectors, including becoming one of the largest buyers of soybeans and corns from US and Brazil to produce high quality soybean oils for Chinese markets. Mr. Wang has given tens of millions to several universities including Harvard and NYU here in the US, as well as 30 schools and 1,000 households annually in impoverished areas of China. Recently, Mr. Wang made a commitment to invest millions of dollars to grow mangroves in the US, Brazil and China in an effort to save our shorelines and restore the wetlands.

“I applaud Mr. Wang for his commitment to protecting the internationally significant Dandong Yalu River Estuary Wetland and wish him the very best in his continued efforts to protect our environment and restore these important sites,” said Senator Reid.

Source: Mr. Wenliang Wang

Written by asiafreshnews

July 24, 2015 at 12:07 pm

Posted in Uncategorized

Silent Circle Announces Branded Content Partnership With Guardian Labs

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GENEVA /PRNewswire/ — Silent Circle has announced a branded content partnership with Guardian Labs. The investigative series – The Power of Privacy – examines the state of global privacy today and what becomes possible when businesses and people take control back. The campaign launches on July 23 and will last for six months.

Logo – http://photos.prnewswire.com/prnh/20150723/240706LOGO

Since its formation in 2012, Silent Circle has quickly become one of the most trusted providers of secure communications for enterprises across a variety of industries, from pharmaceuticals to finance to government.

The partnership will feature editorially independent pieces, including five films that look into issues of online business privacy. Content will be hosted on the technology section of theguardian.com and on the Media and Technology professional network. Further content will cover topics such as creative empowerment, how to achieve privacy on your own terms, as well as data visualizations and infographics that will bring to life the reality of privacy today. Silent Circle will also offer thought leadership pieces on the topic in their dedicated partnerzone. All content will be clearly labeled in line with the Guardian’s sponsored content guidelines.

Silent Circle Chief Marketing Officer Rob Smith said: “The goal of this project is to turn the conversation around privacy from one of fear to one of positivity. To explore what privacy makes possible for people, and for enterprise businesses in particular. To look at where we are now, how we got here, where are we going next, and how can we protect ourselves”, said Smith. He added: “The Guardian is the ideal platform as they have been instrumental in bringing important privacy-related stories to the public’s attention.”

Since moving to guardian.com, the Guardian has become one of the world’s largest English language newspaper websites with a wide international reach.

For Silent Circle, this is a continuation of its quest to tell the story of privacy. Earlier this year, Silent Circle released a short film by independent content creator Ivan Cash. The piece featured employees discussing their smartphone app permissions, making the point that one of the greatest risks to enterprise businesses is their employees’ use of smartphones at work.

“It has never been more important for individuals, businesses, governments and other organizations to understand privacy and what tools are available to protect it”, said Smith. “The solutions exist. We’re excited to inform a wider audience of what is possible when organizations and their employees are informed of how their privacy is being constantly compromised and, as a result, they are able to take control back.”

Anna Watkins, Managing Director of Guardian Labs, said: “This is a truly remarkable collaboration that shows how branded content can be informative, engaging, smart and effective. By working with Silent Circle we have created a fantastic platform for a discussion on the topic of business privacy – a subject we know our readers are interested in and will want to engage with and share.”

Guardian Labs is the Guardian’s in-house branded content agency.

Notes to Editors
All content will be clearly labeled in line with the Guardian’s sponsored content guidelines.

Silent Circle Press Contact:
+44 (0) 203 003 6541
press@silentcircle.com

For information about Guardian Labs and the Guardian please contact:
media.enquiries@theguardian.com

About Silent Circle
Silent Circle is a leader in enterprise privacy, delivered through a revolutionary mobile ecosystem of devices, software and services, starting with ZRTP to build a fundamentally different mobile architecture.

Now led by Bill Conner, the former Entrust President and CEO and Nortel President, Silent Circle was co-founded by Mike Janke, former Navy SEAL and security expert; Phil Zimmermann, co-founder of PGP, developer of the ZRTP protocol and 2015 inductee into the Internet Hall of Fame; and Jon Callas, creator of Apple’s whole disk encryption software and Co-founder of PGP Corporation.

Silent Circle is headquartered in Switzerland, home to the world’s best privacy laws. For more information on Silent Circle, go to: https://www.silentcircle.com

About Guardian Labs
Guardian Labs is the Guardian’s in-house branded content agency. It launched in 2014 with a seven-figure Unilever campaign – the award-winning Live Better Challenge. The 133-strong Guardian Labs team of strategists, creatives, project managers, designers, editors, video and content specialists, is dedicated to telling compelling brand stories that connect and engage with the progressive and highly influential audiences across the Guardian’s print and digital platforms.

Source: Silent Circle

Written by asiafreshnews

July 24, 2015 at 11:54 am

Posted in Uncategorized